Stephen Moore

Correct, because I'd say in the... You're going to have some revenue on that. But in the long term, we're trying to correct a behavior here. Now, this is an example that I've used before, not that I'm in favor of it because I didn't support it in the state legislature. But if you think about something like a cigarette. You keep breaking up. Are you there? Oh, yeah, I'm there. Can you hear me?

Correct, because I'd say in the... You're going to have some revenue on that. But in the long term, we're trying to correct a behavior here. Now, this is an example that I've used before, not that I'm in favor of it because I didn't support it in the state legislature. But if you think about something like a cigarette. You keep breaking up. Are you there? Oh, yeah, I'm there. Can you hear me?

Correct, because I'd say in the... You're going to have some revenue on that. But in the long term, we're trying to correct a behavior here. Now, this is an example that I've used before, not that I'm in favor of it because I didn't support it in the state legislature. But if you think about something like a cigarette. You keep breaking up. Are you there? Oh, yeah, I'm there. Can you hear me?

Yes, I can. An example to think about would be, say, like a cigarette tax, which I'm not in favor of. But what they're trying to do is change a behavior on the other side. So you might get some revenue in the beginning, but eventually people will come off of cigarettes.

Yes, I can. An example to think about would be, say, like a cigarette tax, which I'm not in favor of. But what they're trying to do is change a behavior on the other side. So you might get some revenue in the beginning, but eventually people will come off of cigarettes.

Yes, I can. An example to think about would be, say, like a cigarette tax, which I'm not in favor of. But what they're trying to do is change a behavior on the other side. So you might get some revenue in the beginning, but eventually people will come off of cigarettes.

So it's the same way you could think to an extent on tariffs is that we're trying to correct the way that these foreign countries are dealing with us and bring it to a more level playing field. The president said he's for free trade, but he is for fair trade. So we'll get some revenue in the short term. This is not a long-term play, though, I don't think.

So it's the same way you could think to an extent on tariffs is that we're trying to correct the way that these foreign countries are dealing with us and bring it to a more level playing field. The president said he's for free trade, but he is for fair trade. So we'll get some revenue in the short term. This is not a long-term play, though, I don't think.

So it's the same way you could think to an extent on tariffs is that we're trying to correct the way that these foreign countries are dealing with us and bring it to a more level playing field. The president said he's for free trade, but he is for fair trade. So we'll get some revenue in the short term. This is not a long-term play, though, I don't think.

And, you know, this budget resolution that they're going to have on the floor today has a floor itself within it.

And, you know, this budget resolution that they're going to have on the floor today has a floor itself within it.

And, you know, this budget resolution that they're going to have on the floor today has a floor itself within it.

provide some guardrails in there for one and a half trillion dollars in cuts yeah but but isn't that a like an 85 million trillion dollar bill over 10 years you're only cutting i mean that's i mean really yeah so that's over the 10-year window you're right so that's over the 10-year window so in the way i've thought about it and i've talked to people

provide some guardrails in there for one and a half trillion dollars in cuts yeah but but isn't that a like an 85 million trillion dollar bill over 10 years you're only cutting i mean that's i mean really yeah so that's over the 10-year window you're right so that's over the 10-year window so in the way i've thought about it and i've talked to people

provide some guardrails in there for one and a half trillion dollars in cuts yeah but but isn't that a like an 85 million trillion dollar bill over 10 years you're only cutting i mean that's i mean really yeah so that's over the 10-year window you're right so that's over the 10-year window so in the way i've thought about it and i've talked to people

They're like, oh, it's $1.5 trillion, or what if we get to $2 trillion? It's like, well, one, it's over the 10-year window, which is saying we're going to reduce, let's say, $200 billion a year if it's $2 trillion. If this place tomorrow woke up and said they wanted to spend $200 more billion a year, they could do it in a nanosecond.

They're like, oh, it's $1.5 trillion, or what if we get to $2 trillion? It's like, well, one, it's over the 10-year window, which is saying we're going to reduce, let's say, $200 billion a year if it's $2 trillion. If this place tomorrow woke up and said they wanted to spend $200 more billion a year, they could do it in a nanosecond.

They're like, oh, it's $1.5 trillion, or what if we get to $2 trillion? It's like, well, one, it's over the 10-year window, which is saying we're going to reduce, let's say, $200 billion a year if it's $2 trillion. If this place tomorrow woke up and said they wanted to spend $200 more billion a year, they could do it in a nanosecond.

Yeah. And we do got to get more serious on this. And I do think, though, I mean, the things that we're seeing from Doge, if people have the intestinal fortitude, which I am one of these to actually take what they're doing and put it into law. Yes, they can pause the spending. But if we don't put it into law, it will be reappropriated in the next year.

Yeah. And we do got to get more serious on this. And I do think, though, I mean, the things that we're seeing from Doge, if people have the intestinal fortitude, which I am one of these to actually take what they're doing and put it into law. Yes, they can pause the spending. But if we don't put it into law, it will be reappropriated in the next year.