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Gerald L Bailey's avatar

One reason the SS Fund is going broke is; it has been utilized as a Benevolence Fund. The Dems brought the trust fund into the General Budget process, and Jimmy Carter utilized it to bring in the Vietnamese people, with the promise that the Nams would be educated, in good health, and given the opportunity could work in jobs, and not be a burden on the Society. Well, they came in with diseases, TB, etc., and were placed into the SS SI benefits program. And that was the beginning of the Benevolence Fund process.

Now, it is disclosed via DOGE that there is also corruption payments from the Fund.

Were you aware that high-income people who are drawing SS could be paying into the Medicare Premiums, up to $ 1,000 per month? There is a floor for single income and couples income.

No mention of the Federal Pension funds being paid out will go broke. That is because every Fed Taxpayer (You) are backing and paying into that fund. Federal pension payouts have become obscene.

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Gerald L Bailey's avatar

Despite Elon's redress, Navarro is right in saying that DT wants to negotiate tariffs. You becha that's correct. The Art of The Deal is DT provocative. Navarro is right in saying it is permanent, meaning it stays until negotiated away. Elon was/is just too impulsive in this regard. Navarro's facade/profile gives a little profile of stability, even though that may not be actuality. DT will probably remove Navarro but should not.

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dennis mcconaghy's avatar

At some point, Congressional Repbulicans are going to have to accept that the only means to actually deal with the deficit is fundamentally alter entitlements. A polite way of saying reduce their financial burden. The most obvious would be to means test immediately social security. And going forward change it to a more actuarially sound pension plan. LIkewise for Medicare.

Trying to reduce the size of the federal bureaucracy is laudable, but not consequential, if net benefits are to be preserved.

Tax cuts are virtually impossible to rationalize given the size of the debt.

Tariffs of course simply erode the economy.

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BombersBay's avatar

It is unbelievable to me that the Republicans, given a gift of all 3 branches of government, cannot come together to get this done, especially with the debt levels that exist. I take that back, it is believable to me when you look at what they’ve done over the years. At this point you have to not only blame the Republicans, but the voters too, who only pay attention in the last 2 weeks of an election cycle. If they can’t get this done, then I’m done with them. Might as well let the whole thing fail.

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Joe Hatfield's avatar

Re: "Frankly, the House of Representatives is probably lost anyway at this point, so they might as well fight to save the nation since they cannot save themselves."

Erick..... seriously? Maybe try to keep some optimism here.

November 2026 is a long way. A lot can and will happen between now and then.

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Neil McKenna's avatar

The party in control of the White House almost always loses House seats in the midterms. That is, setting aside any rejection of that party's policies by the voters, this is what usually happens anyway. Turning now to the immediate situation (rather than simply the usual case), Republicans hold an extremely slim majority in the House. They only need lose just a handful of seats to lose that majority.

Given historical experience, it was therefore extremely unlikely that Republicans would retain control of the House to begin with. If Trump is serious about putting the nation through a period of short-term pain for long-term gain, the American people are unlikely to react to that pain in 2026 by rewarding the political party deemed responsible for inflicting it.

In sum, Erick is simply being realistic.

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Joe Hatfield's avatar

Usually. But these are unusual times.

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Sue Haggerty's avatar

I think Scott Bessent is exactly who we need to help land this plane, so-to-speak. He appears to be a calming influence with a steady hand, whom I hope will be able to negotiate beneficial tariff deals. Though I am not familiar with his prior positions, he is outwardly supporting Trump's position, which makes me want to believe he will strive to make this work. And posing this as a tatic with a potential way out, clearly is a tool to leverage our position. We'll see. I'm not a fan of tariffs, but now that we're in it, we need the smartest folks in the room to make it work. Fingers crossed.

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Neil McKenna's avatar

The smartest people in Trump's room usually get fired eventually.

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JD Holmes's avatar

Isn't it a bit early to concede the House of Representatives race? "Events change things, dear boy."

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Pool Westbury's avatar

The Tariff policy debate is healthy, but it is part of a larger thought process by Trump. If you watch his early 1980s interviews on the Opray Winfrey Show, you see he is saying the same thing today as he said back then. He has not changed his beleif structure.

From a strategic perspective, this is a fight between Liberty and Tyranny. Trump believes, as I do, that America is the leader of Liberty, while China is the primary driver of Tyranny. Should we distrust Russia, Iran, North Korea?

Iran is really a Middle East problem and one that Europe and the West aligned with Isreal can easily confront. But Europe does not want to confront radical Islamic terrorism (for some odd reason). We can push Iran back into a box and leave them without money and force them into grinding poverty until such time as the Iranian people (really Persians) decide enough is enough and change their civil institutions that are more aligned with the West than 7th century Islamic thought. Here is the deal. Saudia Arabia makes nice with Isreal, invests $1 trillion plus in the US and the US confronts Iran. Saudia Arabia gets to sell tons of oil around the world.

North Korea is just a proxy for China and nothing of significance to the West and the US.

Russia? What can you say, the Russian Empire is alive and well and I am not sure the Russian Federation is capable of change. The Ukrainian Russian war will go on for many more years until one side runs out of soldiers. My belief is that Russia will fail first. Ukrainian military capability is improving faster than Russia's. Russia has burned through 50 plus years of cold war investment in hardware. They just cannot adapt their force structure, military industrial capacity or tactics to confront a modern Ukranian military using drones to minimize the numerical advantage in manpower of Russia. The largest lever we have is the price of oil and natural gas. Push oil prices towards $50 and Nat Gas (Henry Hub) to under $4 and Russia runs out of cash. It wold be great of NY figured out they could retain their Empire State name plate if they opened up to fracking, built a pipeline to the end of long island and set up an LNG hub to double LNG exports to the World.

Tariff policy does nothing to change these realities. It all has to do with the price of oil and the ability of the West to constrain Russia and Iran from generating significant cash to fund their strategic ambitions.

But Tariffs against China? Without exports China's economy suffers. They wasted untold trillions on over investment in real estate and infrastructure. Their population demographics are aging. Korea, Japan, and China are losing lots of working age people over the next few decades. This is why Kia/Hyundia, and others build more and more plants in the US. Korea will not have a workforce in 20 years to produce much in the way of exports. What wold happen if Korea converts to Christianity and their fertility rate goes from 1.2 to 3? Korean women dont want to marry and dont want kids. Why? Because Korean men do not treat women well.

Can Trump use tariffs to force Europe to get its act together. Invest in more defense? Reduce their Vat/Tariff/regulatory structures to more closely align with the concept of liberty (free press, free speech, low taxes, low regulation, etc.? does that matter to the US? Yes, it does. Why? Because Europe needs to reestablish their strong Western institutions and stop this insane policy of global integration multilateralism and multiculturalism. Why are US navy ships fighting the Houthis? Because the Navy's of Europe cannot defend themselves from antiship missiles and sophisticated drones. So, we are stuck keeping the Red Sea open to shipping when the Red Sea is far more important to Europe.

The Senate needs to reduce spending especially after all the stuff that DOGE is uncovering. Will they work with Congress to cap spending? If so, then we can maintain low taxes rates. Can The President reduce regulations? Sure, he has the rule making ability as the executive. But we really need Congress to codify the changes.

In short, Tariffs are a small part of the overall fiscal imbalances the US faces. Too much spending, regulation, grift and defense obligations, leaves the US economy overburdened. Tariffs add a small amount of cost to the price function, which redices the efficient allocation of capital between buyers and sellers. But taxes, regualtions and an overburdened defense obligaton add far more cost. As such, the reaction (long term) to Trump's tariffs is overblown. The deregulation, spending cuts, and tax policy choices take longer than the President imposing tariffs that force our trading partners to embrace liberty and confront tyranny. Further, if we could reduce defense spending obligations from 3% plus to under 2% would give us far more capacity to reduce the debt. Clinton did this in the 1990s. We reduced the force structure significantly, lowered taxes and reformed social welfare policies. Cna we do this over the next 3 years?

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Beverly's avatar

Wow, what a great post!

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Kaye Oh's avatar

I second that!

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Paul Perrone's avatar

Maybe I have missed it, but why does Erick think Trump is raising tariffs? Does he think he is purposely doing it to tank the stock market? Does he think that Trump is just stupid? Or is just possible that Trump is doing what he thinks is right for the country? I

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Neil McKenna's avatar

Don't know about Erick but I, for one, think that Trump is just stupid.

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Paul Perrone's avatar

Yup sure…don’t know how he got to be a billionaire and President twice.

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Neil McKenna's avatar

He got to be a billionaire because his daddy was rich enough to give him a head start and then bail him out when he screwed up.

He got to be President twice because we're stupid.

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Paul Perrone's avatar

Yeah, you’re right. We were not smart enough to vote for Kamala.

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Neil McKenna's avatar

The Republicans fielded the strongest field of candidates in 2016 that I can remember. By far. We also weren't smart enough to vote for any of them . . . except for the idiot now tanking not just our, but the entire world economy.

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Paul Perrone's avatar

Right again. We’re all morons. You and Erick should run in 2028 and fix everything.

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MGC's avatar

Erick is again spot on. Spending is the recurring problem. There are too many programs on auto-pilot and money just flows out the door…not to mention the waste, fraud and abuse by those illegally receiving.

The entire budget needs to be brought back on line through the appropriation process. No more entitlements. Let each Senator and Representative vote on the appropriations; no more omnibus. If going to staggered two-year appropriations needed, fine, but restore accountability by those we elect.

Elon Musk and DOGE need to be supported. Get some spine.

And to our Democratic friends…” hands off” ….if only you would.

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Neil McKenna's avatar

Supporting DOGE means not supporting the U.S. Constitution, which put Congress in charge of both spending and the determination of which agencies should or should not exist. Were DOGE identifying cuts for Congressional action, I would be all for it. However, it (and Trump) lacks the constitutional authority to do what it (he) is doing.

We elected a President, not a king.

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Michael Howell's avatar

If Congress can't get this tax cut extension passed, then I am done. I voted for Trump in 2024, foolishly believing that my vote actually meant something. The last winning president that I voted for was Bush in '88, and the last presidential election I participated in was in '92 when I voted for Perot. I still begrudgingly participate in the state and local elections, but that's likely to end, seeing how the school zone speed camera (HB 225) died in committee like I predicted it would. I will still vote in years where there is an amendment, or local tax issue on the ballot. My prediction is that they won't pass the extension, and our taxes will go up next year. They'll use that extra money from the earnings of my labor to bailout the farmers, yet again, or maybe it's time for another bailout of Wall Street, who know?

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Franklyn Murphy's avatar

Erick, I don't get to listen to your whole show often. Will you be speaking to any deals regarding the EU or specific countries and tariffs that are in the works? I see things, but don't totally trust that they are totally factual.

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GroverC's avatar

I'd like to know why Donald Trump is so willing to abandon several key objectives of the House-Senate budget negotiations that he previously said he stood for. It's like he'll take ANYTHING to move his now uglified "Beautiful Bill" to completion as fast as possible. Don't hand me this "promises made, promises kept" tagline for his administration anymore. When it comes to weak and not-smart, he's our PANICAN-in-Chief.

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Frank Hinkley's avatar

Good Morning People all that politicians fight about is witch one gets to steal more of our money all of the so called cuts always end up costing more and no body nowes where the money goes it’s just the SOShit God Bless America

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Joe Guerriero's avatar

Looks like the Never Trump crew is trying to once again spin things to make them look right and Trump wrong. The CNN article regarding Bessent and the implication that “behind the scenes” he’s against tariffs or is manipulating Trump in some way is garbage. His comments regarding tariffs for those that have been following him the past 5 years or so are totally aligned with Trump and his comments this morning (see below) also support that fact. As for DeSantis? I like him, but President? Not likely.

https://www.cnbc.com/2025/04/08/treasury-secretary-bessent-says-chinas-escalation-was-big-mistake-country-playing-with-losing-hand.html?__source=newsletter%7Cbreakingnews

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Rachel's avatar

DeSantis is an actual conservative.

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Joe Guerriero's avatar

Who cares.

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Rachel's avatar

I do, and so do a lot of other people who want a measured and conservative approach to government from the Tea Party perspective. Your response is indicative of the problems within the current Republican Party.

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Joe Guerriero's avatar

Good for you. I care about a strong, secure, healthy America. A prosperous country where every citizen has the opportunity to succeed and live their lives in peace and security. Your “conservative” GOP is as responsible as the Democrats for our horrible debt and the challenges this country faces. They have been complicit in caving to the globalist elite, as evidenced by GOP senators fighting Trump’s tariff stance. They’ve sold out to corporate interests. Your “conservatives” have been as responsible for the hollowing out of the middle class as anyone.

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Neil McKenna's avatar

I feel you, Joe. Neither of the traditional iterations of the two major parties has served us well.

This time, however, the GOP senators pushing back against Trump's tariffs aren't just serving corporate interests. The middle class also stands to lose as their retirement investments lose value in the stock market, they begin paying the higher prices that tariffs will bring, and they lose their jobs with the onset of the recession that most economic analysts can now see coming.

Make no mistake, though. More generally, I wholeheartedly endorse your condemnation of both major parties. (Indeed speaking as a Democrat, the sheer incompetence of my own party is really beginning to p*ss me off.)

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Rachel's avatar

Obviously, you don't understand what I mean when I said "from the Tea Party perspective." There's a difference between Republicans and Conservatives who are Republicans.

I oppose the way he's wielding the tariffs, and his rule by executive order. I support other things he's doing, but we would have gotten those things with a DeSantis admin without the negatives Trump brings.

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Joe Guerriero's avatar

You may oppose how he’s going about the tariff issue but fact is your conservatives never did a thing but complain. That the problem with the vast majority of politicians. All talk, no action. Lack of doing the right thing particularly when uncomfortable or politically inconvenient is exactly what’s wrong with your “conservatives”.

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Bill Brockman's avatar

Trump’s dilemma is that he has staffed his administration with a number of ticking bombs. People inside such as Navarro, RFK Jr., and those officially outside such as Loomer, Carlson, too many to count. The sane people must be ever vigilant.

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Rachel's avatar

I thought CoS Susie Wiles was going to restrict Loomer's access to Trump? Yet, she got through. Not good. As for Carlson...he's completely gone off the deep end.

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