Senator Eric Schmitt
speaker
478 appearances
21 recordings
1 series
first heard Dec 2024
last heard Jun 2025
Senator Eric Schmitt’s voice in public audio — every appearance, attributed to the second.
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Appearances
So my point is that it is possible, but it's not likely. Now, talking about taxes. We're going to send more money to Washington, D.C. by raising taxes? Absolutely not. We have proven we can't spend the dollar wisely. I know you know the scripture better than I do when you start talking about the talons and the servants that got five, four, right?
One guy went and buried it, and one guy spent it wisely. We're the guy that buried it at Washington, D.C., and we're not spending it wisely, and it needs to be given back to the people who will spend it right. We proved underneath President Trump that Reagan economics still work. When President Trump cut taxes, they were talking about this $10 trillion deficit that he was going to add.
What we saw in the very first year was an actual increase into the Treasury Department. We were actually on the path, if COVID wouldn't have happened, to actually have a balanced budget, which is why President Trump is pushing so hard to have a balanced budget. There is no way underneath the Republican Congress, being in the House and Senate, we're going to raise taxes.
Well, you got to remember, everything's got to go within the bird rule. And it's got to be directly related to something financially because it's reconciliation. So we got to be very careful that we don't blow up the whole bill by trying to put too much stuff into it. We're going to have other opportunities as we move forward because we still have the disaster bill we've got to put into.
We've still got to be looking at trying to do immigration reform. There's going to be opportunities for us to do this. And then there's one thing that I have had the privilege of talking with Secretary Burgum about is setting up this true sovereign wealth fund. And this is stuff that can be put in this bill, by the way, but the sovereign wealth fund that goes after the debt.
If we use the resources we have inside the United States, which we have more resources under our feet in the United States than any other country in the world, we just don't utilize it. But we actually set up a sovereign wealth fund like a lot of these Middle East rich countries do.
And instead of us using it as a slush fund, but we use it specifically 100% to pay off the debt, we can see where we could get out of debt in a year and a half's lifetime. Now, it'll still be our kids carrying it, but there's an opportunity for us to get out of debt in our lifetime underneath President Trump setting it up for future congresses if they don't screw it up. But who knows?
They probably would.
I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA.
Of course I'm going to respond.
The problem is our country didn't respond. Look, the EU was set up in order to take advantage of the United States.
Of course they are. I have great respect for Ireland and what they did. And they should have done just what they did. But the United States shouldn't have let it happen. We had stupid leaders. We had leaders that didn't have a clue. Or let's say they weren't business people, but they didn't have a clue what was happening. And all of a sudden, Ireland has, you know, our farmers.
Yeah, it's incredible, Charlie, what he's done in, what, 50 days or so. He's really literally rewriting everything, not just, you know, social structures, but he's also rewriting how things like Wall Street work with the tariff – situation, how he he's teaching people. And I'll be perfectly honest with you. I'm a free market person. I've my entirety. I started CNBC 20 something years ago.
I've always been an advocate for the free market. I don't like government involvement in markets. They tend to adjust themselves better than government does, but he, He taught me something this time. He, you know, he mentioned something called, you know, we have the internal revenue service, which means we're all paying money. We work hard. We pay our taxes.
That's the internal within the United States. But these tariffs are external revenue. Right. It's coming from the outside. And, you know, it really does tell you, well, maybe taking some of the burden off.
us the people who are paying the vast majority of the four five trillion dollar budgets that were put seven trillion dollar budgets that we're putting together so he's he's rewriting all all the rules what i saw day before yes yesterday actually when he brought the teslas out after after uh By the way, after the market closed, he started around 3.56 or so. My show starts at 4 o'clock.
He started a couple minutes before. Elon at 4.05 says, I'm here to double my automobile output to the United States next year. Wow. After the market closes. So what happened earlier in the day, what we didn't realize was the market was down yesterday. It was down, you know, a good amount of day before yesterday. It was down a good amount of two and a half, almost 3%. Tesla. was down 17%.
It was five times the market move because there were people attacking Elon Musk and Tesla because of his closeness to Trump and Doge. And so they were punitively damaging, the Wall Street was punitively damaging Elon Musk and Tesla. After the close, Musk says, we're going to double our output. And Trump says, I love this car. I want to buy one of these cars.
I said to the audience, I'm watching this at 408, 409. Tesla's going to open up a lot higher tomorrow, today. And it's going to run. And it's up $18 a share today. Here's my point. You don't mess with Donald Trump and Elon Musk, two of the smartest people in the world in markets. And that means it's not like they're making money for themselves, Charlie. They have plenty of money.
They're the richest man in the world. Trump's got $5, $6, $7 billion. He doesn't need the money. That's not what this is about. It's about helping the American people. It's about helping the middle class. And it is just fascinating to see because these are all – rewriting the way finance works. And we are all going to benefit from it.
Showing 301–320 of 478 · page 16 of 24
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