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The Bulwark Podcast

Bill Kristol: Trump Is in Way over His Head

23 Mar 2026

Transcription

Transcript generated automatically by AI and may contain errors.

Chapter 1: What is the main topic discussed in this episode?

13.548 - 35.587 Tim Miller

Hello and welcome to the Bulwark Podcast. I'm your host, Tim Miller. It is Monday. So we are here with editor-at-large Bill Kristol. Bill, I want to start with you with what I have titled Stupid War Update. Is that okay? That's fine. There's a lot to update, right? Yeah, I think we should just dispense with the pleasantries this week and go to the stupid war update.

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35.988 - 53.28 Tim Miller

So since we were last together, me and the podcast audience, Friday, Trump lifted the oil sanctions on Iranian oil that's currently at sea, giving them a multibillion dollar windfall while we bomb them. And then Iran fired a couple of missiles unsuccessfully at the island of Diego Garcia.

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53.4 - 73.79 Tim Miller

Great name for an island, which is far beyond the range that we'd previously known they're capable of sending missiles. So that missiles, they didn't succeed. They're intercepted. It was kind of interesting, a data point. Then Trump threatened to hit and obliterate their power plants within 48 hours from this exact point of time. If they don't open the strait, that was yesterday.

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73.83 - 91.703 Tim Miller

Iran replied, threatening to hit energy assets across the Middle East. You know, the worst case scenario here could have been just a global energy crisis like we haven't seen had both sides gone through with that. Then this morning, Trump blinked and called off the threat. He bleated this.

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Chapter 2: What recent actions has Trump taken regarding Iran?

91.823 - 103.073 Tim Miller

I'm pleased to report the United States of America and the country of Iran have had over the last few days very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.

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103.053 - 119.155 Tim Miller

etc etc and then he goes on to say that uh they're going to postpone all military strikes against iranian power plants and energy infrastructure for five days which you might notice would be like right after the markets close again on friday iran denies that these talks occurred at all

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119.135 - 132.494 Tim Miller

Israel news outlets are reporting that this is basically just market manipulation, that nothing has happened, that they're pressing forward. The Israeli Air Force has begun a new wave of strikes targeting Iranian infrastructure sites this morning while Trump bleated that out.

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133.536 - 149.497 Tim Miller

And then Trump was on the tarmac after the bleat this morning and said that if negotiations go well, we'll end up settling this. Otherwise, we'll just keep bombing our little hearts out. So that's the state of affairs on the Iran war. response.

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152.058 - 175.28 Bill Kristol

Well, I guess I've always been slightly of the view that Trump would taco himself out of this, that he was sufficiently worried about boots on the ground in the Middle East and certainly worried about gas prices, that he would find a way to have a negotiation or a fake negotiation or just order his fire, kind of stop the war and assume that Iran would have to open the strait pretty soon afterwards anyway because of pressure from other nations.

175.741 - 195.022 Bill Kristol

And I think that's where he ended up. I mean, it is convenient, as Andrew Egger pointed out this morning in Morning Shots, that he launched the really big bluff, I guess it turned out to be, at least for now. And these are all just at least for now, because who knows where this could go. But at least for now, the big bluff was launched late Saturday afternoon and called off early Monday morning.

195.042 - 215.069 Bill Kristol

So it was while the markets were closed, Trump was bluffing. Now, hey, relief, presumably the market, God knows how much market manipulation there's been by various people in and close to the Trump campaign. Trump administration. You know, the threats were pretty jaw-dropping. On Sunday, to Israeli radio, he pledged the total decimation of Iran.

215.509 - 225.845 Bill Kristol

If they didn't pledge to reopen the strait right away, and they haven't done so, they've simply said, well, they haven't said anything. Trump has said, we're talking to them, and they've said, actually, we haven't talked to the U.S. at all.

225.865 - 235.339 Bill Kristol

But, I mean, they could have talked to Oman or to Qatar or to Japan or UK or a million possible interlocutors or have indirect contacts with some people there and not others.

Chapter 3: How did Iran respond to Trump's military threats?

387.262 - 409.395 Bill Kristol

kind of uneasy ceasefire, which isn't really a deal, but it's sort of a quasi-deal and does basically reduce the violence for now. Not that it might entirely go away overnight, but this is a big retreat. Let us not kid ourselves. It's one thing to have a theory, a strategy where you're going to bomb for X amount of time and then get a good deal out of it. That wasn't his plan.

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409.455 - 421.001 Bill Kristol

His plan was to bomb for three days and stop it, basically. His plan was to be Venezuela-like. He's way in over his head. He's throwing stuff at the wall. He's bluffing. He's blustering. What's been, I think, most worrisome just from the point of view of actually the U.S.

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421.061 - 440.879 Bill Kristol

and the world, like the real world, not Trump's psyche, is that he would stumble into a truly insane escalation that would cause... Genuine economic crisis and all kinds of other second and third order effects. And I think in that respect, it's good that his inclination is to back off. His inclination is to chicken out.

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441.019 - 448.47 Tim Miller

For sure. I mean, last night when we went to bed, the possible of a completely catastrophic event.

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448.45 - 472.01 Tim Miller

energy crisis roiling the entire world, leading to, you know, untold kind of damage and, you know, refugee, like, you know, and if Trump really had tried to take out the Iranian energy infrastructure, and then the Iranians fired at energy assets across the region, and there was no plan to opening the straight, you know, you end up in a situation that, that affects everybody around the globe.

472.531 - 488.85 Tim Miller

I do think that your point is, this is a big back down. And, you know, we don't want to escalate The Iranians, though, more so than in Venezuela, have some impact on what is happening here and have a vote, so to speak. I mentioned earlier, they said that they're not even having talks.

488.87 - 503.951 Tim Miller

Gerard Baker at the Wall Street Journal, who's been intended to be friendly towards Trump in the past, writes this, "...the unsettling reality is that with this president, Americans in wartime are in an unprecedented position of having to suspect that the enemy's version of events is more likely to be true than our own." We have become the Baghdad bobs.

504.532 - 514.891 Tim Miller

And then we had this from the spokesperson from the Iranian Armed Forces. I swear this is not from Wayne's World or a spoof movie. This is the real life that we're in. Let's listen.

515.833 - 524.509 Greg Phillips

Hey, Trump, you are fired. You are familiar with this sentence. Thank you for your attention to this matter. The central headquarter of Qatam Olympia.

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