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Chapter 1: What were the main points of Trump's 2026 State of the Union address?
Donald Trump delivered what may be the most detached from reality State of the Union address we have ever seen, rambling and confused and claiming he ended wars that he didn't really end, suggesting it should be his third term and, of course, insisting this is the best economy anyone has seen or heard of ever. But if everything, if anything, is not so good, it's Joe Biden's fault.
Meanwhile, Americans realize that's not true. And we actually heard from a lot of them after the speech. Republicans are panicked. They're saying it was majestic. They're saying it was the best state of the union ever. We'll show you the clips of them making that case. And then in total panic mode, the DOJ has records tied to Epstein allegations that are missing. Serial numbers exist.
The pages don't. Where did they go? 53 pages. We'll talk about it. And even CNBC's MAGA friendly host Joe Kernan shut down inflation spin from a Republican senator live on air. It was fascinating. And then the moment that MAGA Mike Johnson realized If Republicans lose the House in 2026, which is looking more and more likely, the shield is gone.
Chapter 2: How are right-wing politicians misrepresenting Trump's approval ratings?
Trump's term is over. MAGA Mike Johnson gets it. I hope we do as well. Let's get into it. Donald Trump just completed his 2026 State of the Union address. It was a global humiliation and a total disaster. We just watched it. I'm going to show you some of the most critical moments. But what I can summarize for you is that this was not only a ridiculous speech and a dangerous speech.
It was kind of a pointless speech. Much of the speech spent giving people awards and medals in the crowd, some deserving, some not so much, but a real waste of time at the end of the day. And Donald Trump sort of plodding through with increasingly less energy as it went. delivering the lines without really any attachment to them, told endless lies.
But let's start with Donald Trump's arrival where he looked rough even at the beginning. Trump looked so rough at the beginning as he arrived with his hair completely blown out of proportion, his makeup inappropriately applied, orange faced in some areas, missing makeup and others just from what he looked like when he arrived. you knew that this was not going to go well.
And indeed, indeed, Donald Trump sticking with a lot of what he says every day, which is it doesn't matter how you feel things are. Everything's great. And I fixed it. And the last remaining things that are not so good are the fault of Joe Biden or definitely someone else. For example, Donald Trump insisting he inherited a stagnant economy with record inflation.
When I last spoke in this chamber 12 months ago, I had just inherited a nation in crisis with a stagnant economy, inflation at record levels, a wide open border, horrendous recruitment for military and police, rampant crime at home, and wars and chaos all over the world. But tonight, after just one year, I can say with dignity and pride that we have achieved a transformation like
No one has ever seen before. And of course, most of that isn't true. Inflation was like two point eight percent when Trump came into office. The crime rate has been declining for decades in the United States.
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Chapter 3: What challenges did Attorney General Pam Bondi face in defending Trump's speech?
It's just a made up farce. At the end of the day, Trump at one point agitated and kind of screaming into the microphone saying, we're winning so much. People are saying, please, it's too much winning. And for all of these reasons, I say tonight, members of Congress, the state of our union is strong. All right. Let me actually skip forward to when Trump resumes talking.
Mr. President, we're winning too much. We can't take it anymore.
Chapter 4: How did Joe Kernen challenge Republican claims about inflation?
We're not used to winning in our country until you came along. We're just always losing. But now we're winning too much. Anyway, that's Trump's impression of people coming up to him crying, saying we're winning too much and Trump screaming into the microphone to the point that it was blowing it out and clipping. Notably, Republicans kind of clapping like seals when Trump would just tell his lies.
Here's just one example of that. In 12 months, I secured commitments for more than $18 trillion, pouring in from all over the globe. Anyway, they clap and clap and clap. But it's a lie. As I've told you before, Donald Trump has really not secured anything.
Chapter 5: What evidence suggests Trump's economic leadership narrative is weakening?
He's gotten people to say to him, hey, you know what, if you bring us some interesting investments or potentially we would make purchases over the next 10 years and it's not really free money, even if we get it because it's being exchanged at the end of the day for goods and services. But why let a little bit of information get in the way of a good story? Trump did glitch a bunch.
We could just do a clip on Trump's glitches. Trump's energy diminished throughout the speech. His slurring increased throughout the speech and the glitches became more frequent. Just one example. But there were it comes to the corruption that is plunging a really It's plundering America.
And that's that same glitch where Trump goes when it's plundering and then he glitches and then he realizes he messed up and he goes back to the beginning. I won't bore you with it. Glitch after glitch after glitch. Trump notably has reframed kicking people off of food stamps as lifting them off.
Chapter 6: What criticisms did voters have regarding Trump's economic claims?
The word lifting is doing some really heavy lifting here. We cut a record number of job killing regulations, and in one year we have lifted 2.4 million Americans a record off of food stamps. And of course, lifted implies that their economic circumstances have improved so much that they no longer need food stamps.
But of course, they just put in a bunch of paperwork requirements and kicked a bunch of people off. Not really the victory that Trump wants it to be. the topic of tariffs came up, it was very interesting because recall that just five days ago, the Supreme Court said Trump's blanket tariffs are illegal. Trump insisting that foreign countries pay the tariffs.
We'll get to the Supreme Court part in a moment. We all know, of course, that American businesses pay the tariffs, 90 percent of which is passed on to the average I believe the tariffs paid for by foreign countries will, like in the past, substantially replace the modern day system of income tax, taking a great financial burden off the people that I love.
unfortunately for Trump and really for the whole country. I mean, listen, if tariffs work that way, maybe they wouldn't be destructive, but that's not the way that they work. The camera shifting to the Supreme Court justices as Donald Trump arguing
Chapter 7: What implications would losing the midterms have for Trump and Republicans?
that he already has permission to do tariffs based on prior Supreme Court decisions. This is Trump's totally bizarre kind of novel legal interpretation. An awkward moment, to say the least.
Speaker 4 Supreme Court's unfortunate involvement.
So despite the disappointing ruling, these powerful country saving, it's saving our country, the kind of money we're taking in.
Peace protecting. Many of the wars I settled was because of the threat of tariffs. I wouldn't have been able to settle them without tariffs. will remain in place under fully approved and tested alternative legal statutes.
Oh, yeah.
And they have been tested for a long time.
They're a little more complex, but they're actually probably better leading to a solution that will be even stronger than before. Congressional action will not be necessary. It's already time tested and approved.
That's Trump's legal theory about tariffs. The Supreme Court justices did not seem impressed. I did have on my bingo card Trump mentioning the Dow hitting 50000 at one point. And indeed, he mentioned it. And it sort of sounds like one person clapped about it. And now it's just taken off.
One of the primary reasons for our country's stunning economic turnaround, the biggest in history where the Dow Jones broke 50000 four years ahead of schedule and the S&P hit 7000 where it wasn't supposed to do it for many years.
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Chapter 8: What were the significant developments from the Bonus Show following the SOTU?
If the inflation was down under Democrats, you ignore it. If it levels off under Republicans, it's because of something that Republicans did. The real issue, I think, is actually bigger than this. Yes, he's a liar. Yes, they tell these lies all the time. But Americans remember that high inflation period. Americans remember their grocery bills at the time. They remember gas prices at the time.
They also can compare that to right now. And over the last 13 months, as Donald Trump has been president, none of those things have gotten cheaper. There there is on there is this on average gas prices. There have been periods where they've been more or less. Right now, gas prices are down about 11 cents from when Trump took over. There were periods where gas prices were higher.
But to be frank, it's been plus or minus 20 cents for a really long time. For the average person, it makes no difference in their monthly budget. And I'm not saying that to be dismissive. If you look at the average miles driven, if you're a long haul trucker or independent operator of transportation fleets or something, it makes a difference. Plus or minus 20 cents for the average person.
You don't even notice it. And so even like the gas prices being down 11 cents now, but before they were up 20 percent, it's basically irrelevant. The important thing is inflation fell to where it is now, years before Donald Trump came back. You can't memory hole like we have the data. It's very clear. And then because it's Mark Wayne Mullen, he adds another gem.
And I love there's a specific part of this. If you know me, you'll know which part of this I love. Listen to his follow up here.
But anybody that's planning on going to to Mexico for spring break. I mean, my chiropractor called me yesterday and said he's still planning on going to Cancun. I said, are you crazy? Right. No one should be going down there right now. It is very volatile. And the United States is laser focused on watching what's taking place. Senator, thank you. Thank you, Joe. Yeah. No, no, no. Cancun.
The it is maybe one of the least surprising things in the world that Mark Wayne Mullen is the type of person who would have a chiropractor and believe that chiropractors are evidence based. That is just so completely unsurprising and a little cherry on top. I'm not shocked that the guy who is going upside down to tell us about how Trump fixed inflation goes. My chiropractor said the following.
Mark Wayne Mullen is pathetic. Joe Kernan is normally a very flat out pro MAGA guy. But I have to tell you, the fact that he called out Mark Wayne Mullen's nonsense, I like Trump keeps bragging about the stock market. The Dow is at 50000. Stocks are booming. Best economy ever. Technically, it is true that stocks are up. US markets are up about 14 percent since Donald Trump took office.
But there's a little bit of a problem here. Take a look at this chart. This chart was taken when when American stocks were up 16 percent. The problem is that the stock market return under Trump. is 21st out of 23 developed markets. Hmm. We are actually getting crushed. Global markets are up triple what the US is up. So this is not a story about stocks are down. Stocks are up. My portfolio is up.
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