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00:00:00
Talk about brutal.00:00:02
Hello, everybody. David Shuster here.00:00:04
Democratic Senator Elizabeth Warren
of Massachusetts just pummeled00:00:07
a Trump supporting news anchor on CNBC.00:00:09
Warren lashed out at Sarah Eisen,
who tried to defend Trump, taking away00:00:13
- Harvard University research grants.
- You know what?00:00:15
Instead of just mouthing off
about what you think is happening,00:00:19
actually present some evidence.00:00:21
And let's look at the evidence.00:00:22
Let's let the other side come in
and question that evidence.00:00:25
But you don't just get to lip off and say,
and therefore the king gets to wave his00:00:30
magic wand and say, off with your head.00:00:33
Doesn't the government determine
where federal dollars tax dollars go?00:00:37
And so they're allowed under the law.00:00:39
Do you think they have a big bushel
basket of money and they just say,00:00:44
you good looking, you will have money,
you not so good looking.00:00:48
You're going to have
to go hungry for a while.00:00:51
That's not how it works.
Let's just do common law 101.00:00:55
And that is Congress writes those laws
and allocates that money.00:01:00
The administration's job is
to enforce those laws and spend that money00:01:06
the way the law tells them.00:01:08
And if they fail to do that,
part three is the courts are the ones00:01:13
who step in and enforce the law.00:01:15
Warren sounded like a third grade teacher
trying to simplify things00:01:19
for an underachieving student,
and Eisen had it coming to her.00:01:24
Earlier during the interview,
Eisen belittled Warren's efforts to assert00:01:27
congressional authority over tariffs.00:01:29
Eisen claimed, inaccurately,
that Congress doesn't have that power,00:01:34
prompting Warren to rip her apart.00:01:36
It ultimately doesn't matter.00:01:38
What do you mean,
it ultimately doesn't matter?00:01:40
- This is the law.
- I'm still a kind of constitutional 101.00:01:44
No, but he has the authority, ultimately.00:01:46
Well, no, he does not.
That's the whole point.00:01:49
He does not have the authority if Congress
does not let him keep this authority.00:01:54
We can't take this away.00:01:55
And to try and take it away.
Warren is seeking a Senate vote.00:01:59
Warren, who is the top ranking Democrat
on the Senate Banking Committee,00:02:02
has called Trump's tariffs corrupt.00:02:05
She points out that Trump initially said
there would be no tariff exceptions.00:02:09
Then, after Trump spoke with Apple CEO
Tim Cook and made what Trump described00:02:13
as a great deal, the Trump administration
exempted iPhones from the import taxes.00:02:19
All of a sudden,
great deal available for Tim Cook.00:02:23
Tim Cook, who, by the way, put $1 million.00:02:25
A great deal available
for Americans who have to buy iPhones.00:02:28
No, it is a great deal for one company.00:02:31
But how many of the competitors
now get hurt?00:02:34
In fact, I'd like to know
what else goes on in this deal.00:02:37
Is it that Tim Cook
and his interests get protection?00:02:41
But any of his competitors, I don't know.
Do they get a higher interest rate?00:02:45
What happens to them?
The problem we've got here.00:02:48
And the thing is, Donald Trump
actually has a history on this,00:02:51
as we point out in the letter.00:02:53
Just has a good relationship with.00:02:54
- A good.
- Relationship there.00:02:56
When he is negotiating a tariff deal.00:03:00
He negotiates on behalf
of everybody in the United States.00:03:05
And to pick.00:03:06
You get a special deal.
You get smacked in the face.00:03:10
It has two consequences.
One is that's just terrible.00:03:13
That's not how competition
is supposed to work.00:03:15
But the second
and the more pernicious here,00:03:18
it's like putting poison in the water.00:03:20
It means nobody can trust the system.
There's no independence in the system.00:03:26
There's no fairness in the system.
It's all.00:03:28
Whose palm did you grease?00:03:30
Who did you suck up to
in order to be treated better?00:03:35
One person who was definitely not
sucking up to Donald Trump these days00:03:39
is fed Chair Jerome Powell.00:03:41
Powell has been blunt in connecting the
weakening economy to the Trump tariffs.00:03:46
The level of tariff increases
announced so far00:03:49
is significantly larger than anticipated,00:03:51
and the same is likely to be true of
the economic effects, which will include00:03:56
higher inflation and slower growth.00:03:58
As a result, Powell has dismissed Donald
Trump's request to lower interest rates.00:04:03
We are well positioned to wait for greater
clarity before considering any adjustments00:04:08
to our policy stance.00:04:09
So Donald Trump
is threatening to fire Powell.00:04:13
He's too late. Always too late.00:04:16
A little slow,
and I'm not happy with them.00:04:20
Let them know it.00:04:21
And, Oh, if I want him out, he'll be
out of there real fast, believe me.00:04:27
The law prevents the president
from firing or replacing the fed chair.00:04:32
And Jerome Powell has said
he is not going to resign,00:04:35
even if Donald Trump demands he leave.00:04:38
Now, back to Elizabeth Warren.00:04:39
The senator herself has
criticized Powell through the years,00:04:42
but she says disagreeing
with the fed chair is one thing.00:04:45
Threatening his job or firing him
is something else, something illegal.00:04:50
And Warren says that such a move
would tank the already00:04:54
battered US stock markets.00:04:56
If Chairman Powell can be fired by the
president of the United States, it will00:05:02
crash the markets in the United States.00:05:05
The infrastructure that keeps this stock
market strong and therefore a big part00:05:10
of our economy strong,00:05:11
and therefore a big part of the world
economy strong, is the idea that the big00:05:17
pieces move independent of the politics.00:05:20
But I know you're I know you are not
the president, but you have also been00:05:23
very vocal in terms of wanting
Fed Chair Powell to cut interest rates,00:05:28
especially when he was raising.00:05:29
And you and I have talked about like,
maybe you shouldn't inject00:05:32
your politics into the fed.00:05:33
That's that's essentially
all he's doing here.00:05:36
Oh. That's the question
when he talks about terminating Powell.00:05:40
Come on.00:05:41
- No. He said his.
- Termination.00:05:42
- Cannot.
- Come soon.00:05:43
Enough. His term ends next year.00:05:45
You think he was saying term in.
Look I hope he was saying term end.00:05:48
I think what he's doing
is testing the waters.00:05:51
Does he think he can get away
with firing Powell?00:05:54
And all of you won't
raise any hell about that.00:05:57
He's checking that out.00:05:58
And I'm just saying
for the strength of our country.00:06:01
I hope all of you
are pushing back at this.00:06:05
Sara Eisen continued to push
back at Senator Warren.00:06:09
Eisen is reportedly viewed
by the Trump White House as one of their00:06:11
most reliable advocates on CNBC,00:06:14
and she often seems to match
the ignorance the Trump team has00:06:18
about the Constitution and the checks
and balances of our government.00:06:22
Now, to be clear, I do think that all
guests on CNBC and elsewhere should face00:06:27
skeptical and adversarial questions.00:06:30
Tough questions should punctuate
every interview, whether the guest is00:06:33
a Republican, Democrat or whatever.00:06:36
But those adversarial exchanges
should be grounded in reality, not Trump00:06:41
talking points or misinformation.00:06:43
Senator Warren and other Democrats
recently asked the Trump administration00:06:46
for some transparency on the tariffs,00:06:49
including a record of who is asking for
special exemptions, whether the requests00:06:53
are going to the president, the Secretary
of the Treasury or the trade rep.00:06:57
So far, the Trump White House has not
given any of the information requested,00:07:02
which makes you wonder if some
of these requests and special deals00:07:06
are above board, or whether they amount
to shakedowns and bribes.00:07:11
As Warren noted, until now,
America has been based on the rule of law00:07:16
as articulated by the Constitution.00:07:19
And whatever side
of the political spectrum you're on,00:07:22
that's what serves all of us.00:07:25
And that's what keeps us all strong.00:07:27
That's what gives us a chance
to build prosperity.00:07:30
You take that away, and it may work great
for a handful of billionaires, but for00:07:35
everybody else in this country, for
every kid who needs that public school,00:07:41
for every senior, who needs that Social
Security check, for every veteran00:07:45
who counts on the promise that was made
to him or her, you take that away.00:07:51
And our country is not
just a little bit poorer.00:07:54
Our country fundamentally breaks apart.00:07:56
In these challenging Times of Trump.00:07:59
There are several Democrats
who have been stepping up00:08:02
in forceful and compelling fashion,
and Senator Elizabeth Warren to the list.00:08:07
She understands markets, trade and the
financial system as well as anybody.00:08:12
Warren's urgency in speaking out against
Trump is noteworthy, and her willingness00:08:16
to blast Trump's sycophants to their face
on live television is inspiring.00:08:22
Will this bill increase
or decrease the deficit?00:08:29
There are varying scoring on that.
Senator, you're.00:08:34
The Secretary of the Treasury.
So I'm asking you, what is your view?00:08:37
Will this bill increase
or decrease the deficit?00:08:41
It is my view that over the ten
year window, it will decrease.00:08:47
You know, do you have anybody
who agrees with you on this?00:08:50
Yes. Yes, ma'am.00:08:52
- Yes, ma'am.
- Let me ask my question.00:08:53
Okay.00:08:54
Every credible, independent expert
agrees that Trump and the Republicans00:09:01
big, beautiful bill would add trillions of
dollars to the national debt and would not00:09:06
even come close to paying for itself.00:09:08
The nonpartisan Congressional Budget
Office, the Penn Wharton Budget Model,00:09:14
and the Yale Budget Lab all agree on this.00:09:17
And they're looking at ten year windows.
Thank you.00:09:20
Warren noted that conservative
organizations have also criticized00:09:24
the Big Beautiful Bill act
and say it will explode the national debt.00:09:28
This includes the Conservative Tax
Foundation and the Committee00:09:31
for Responsible Federal Budget and more.00:09:34
Even Elon Musk and the Wall Street Journal
are criticizing the bill00:09:39
for ballooning the national debt.00:09:42
The only people who are saying publicly
that it's not going to add to the00:09:47
national debt, are you Donald Trump?00:09:51
The Republicans in Congress, do you have
an independent group that has put00:09:56
forward numbers that disagrees with all
of these conservative groups and disagrees00:10:01
with the Wall Street Journal on this.00:10:02
Well, Senator, interesting to see you
aligned with Elon Musk.00:10:07
- But, if I add.
- You're no more shocked than I am.00:10:14
That is how witty and fast
Senator Warren is.00:10:16
To say she is quick on her feet
would be an understatement.00:10:20
Back to Treasury Secretary Bessent.00:10:22
If we want to take
the full congratulations congressional00:10:25
budget scoring, they predict,
and I don't agree with their methodology.00:10:31
They predict a 2.4 trillion deficit.00:10:34
- But okay, so the.
- Answer to the question.00:10:36
- Is yes.
- No, no but may I finish.00:10:38
They include that.00:10:41
But they've also scored 2.8 trillion
in tariff income.00:10:44
So even even in Washington D.C. Math.00:10:47
So in Washington D.C.
Math that is a 400 billion surplus.00:10:51
Okay, so let me make sure
I understand this bill you admit will00:10:55
increase the deficit by $2.4 trillion.00:10:59
But you think there will be another bill
and another set of agreements that somehow00:11:04
materialize, haven't materialized so far,
don't have any statutory authority,00:11:09
but that will make up the difference.00:11:11
So the answer to the original question,
will this bill increase00:11:15
or decrease the deficit?00:11:16
I think you just said it will increase.
This bill increases the deficit.00:11:21
I want to use all all the CBO scoring,
and you can't take one without the other.00:11:27
I don't agree with the CBO. One is the.00:11:30
Law that we are scoring
the bill that is in front of us.00:11:33
We don't have a tariff bill
in front of us to score.00:11:36
Not only is there no tariff bill to score,
there are also no tariff deals yet00:11:41
from the Trump administration.00:11:43
Back in April, when Donald Trump
announced his global tariffs,00:11:46
the Trump White House predicted
there might be 90 deals and 90 days.00:11:50
So far there are zero none.00:11:54
There are some deals or agreements
in principle with China and the UK. But00:11:59
when it comes to comprehensive agreements
that businesses,00:12:01
investors and others can analyze
and examine, say, for tariff revenue that00:12:06
comes into Washington, there is nothing.00:12:09
Mr. Secretary,
let me go on to the second question.00:12:12
You have said that government spending is,
quote, out of control.00:12:16
You have also called government spending,
quote, unsustainable.00:12:20
In fact, in the name of fiscal
responsibility, you're working with the00:12:24
Republicans on this big, beautiful bill to
pass the biggest cuts to Medicaid and the00:12:30
Affordable Care Act in American history.00:12:33
So, Mr. Secretary, help me understand
here, why is the national debt so very00:12:38
important that you're trying to kick 16
million people off their health insurance?00:12:44
But increasing the national debt doesn't
seem to matter if you're cutting taxes for00:12:50
billionaires and billionaire corporations.00:12:53
And that is arguably the best question
from any member of Congress this year.00:12:58
Well, first of all, a huge portion
of this goes to family owned businesses00:13:04
that are pass through entities
that are below that level.00:13:07
Senator, and I am sure you share my goals
of Main Street prosperity.00:13:12
You know, I'm glad to do tax cuts
for people of modest means.00:13:16
The question I'm asking is,
why does the deficit not matter to you00:13:21
when we're talking about knocking
16 million people off their health care?00:13:24
So that figure is overstated
by 5.1 million.00:13:27
That is an amount not attributable
to provisions in this bill.00:13:30
- It's okay.
- Just it is it is simply.00:13:33
Well, first of all,
let's set that straight.00:13:37
Work requirements account
for 8 million of CBO's claim number.00:13:42
Again, we're creating an economy
that promotes clear Secretary.00:13:45
So you don't want to answer the.00:13:47
Question, Senator, I am answering.
No you're not.00:13:50
And what I want is for Medicaid to be used
for mothers and children as it was meant,00:13:56
not for 1.4 million illegal aliens,
not for able bodied people.00:14:00
And not is not used for people
who are not documented.00:14:03
Mr. Chairman, I just want to say here,
the part that troubles me the most00:14:08
is that the Secretary is deeply worried
about the about the deficit00:14:14
and is willing to knock 16 million,00:14:16
he says, nearly 11 million people
off their health care matters so much.00:14:22
But it doesn't matter so much if you're
cutting taxes for billionaires,00:14:25
then it's okay to run up a big deficit.00:14:27
- I think that's wrong.
- Wow.00:14:30
Elizabeth Warren knows these issues
better than anybody in Washington.00:14:34
Her approach is direct,
emphatic and matter of fact.00:14:38
In other words,
Trump officials like Scott Bessent00:14:40
don't stand a chance against Warren.00:14:43
Also, the Trumpsters are literally
trying to defend the indefensible.00:14:47
The One Big Beautiful Bill act slashes
Medicaid, takes away health care for00:14:51
millions of people, and cuts food stamps,00:14:54
ensuring that some people will go hungry
on top of facing financial ruin00:14:58
if they get sick
and need medical care at the same time.00:15:01
The bill gives tax cuts to the wealthy.
But it gets even worse.00:15:06
The nonpartisan Congressional Budget
Office just released new projections,00:15:10
and this graph average annual change
in household resources00:15:14
as a percentage of current income
after transfers and taxes, 2026 to 2034.00:15:18
The highest or richest 10% of Americans
will see their household income rise00:15:23
by about 3%. The lowest or poorest
10% of Americans will see their00:15:29
household income drop by 4%. As economist00:15:33
and writer Paul Krugman recently noted
in his Substack that 4% income00:15:38
decline for the poorest 10% of Americans
is the scale of economic damage00:15:41
you'd expect from a severe recession,00:15:44
but here it is, being deliberately
inflicted on the poorest Americans.00:15:48
And as Krugman points out, the CBO doesn't
even consider the effect of Trump.00:15:53
Tariffs on household incomes and tariffs
are regressive taxes, they fall00:15:58
more heavily on lower income families.00:16:01
So the 4% income decline for the poorest
group of Americans could be even worse,00:16:05
perhaps 6 or 7%. The bottom line is that
the Trump GOP bill is going to take money00:16:11
away from 80% of the American public,
and because of tax cuts for the rich,00:16:17
the federal deficit is going to explode.00:16:19
That's why the voice of Senator Elizabeth
Warren and others is so important.00:16:24
This stuff is going to impact all of us.00:16:27
And by the way,
Senator Warren has hammered Trump00:16:30
Republicans repeatedly this year.00:16:32
Last month, Warren blasted CNBC host Sara
Eisen, who tried to defend Trump, taking00:16:37
away Harvard University research grants.00:16:40
You know what? Instead of just mouthing off
about what you think is happening,00:16:43
actually present some evidence.00:16:46
And let's look at the evidence.00:16:47
Let's let the other side come in
and question that evidence.00:16:50
But you don't just get to lip off and say,
and therefore the king gets to wave his00:16:55
magic wand and say, off with your head.00:16:58
Doesn't the government determine
where federal dollars tax dollars go?00:17:02
And so they're allowed to decide.00:17:04
Do you think they have a big bushel
basket of money and they just say,00:17:09
you good looking, you will have money.00:17:11
You not so good looking.00:17:13
You're going to have
to go hungry for a while.00:17:15
That's not how it works.
Let's just do Cornwall 101.00:17:20
And that is Congress writes those laws
and allocates that money.00:17:25
The administration's job is
to enforce those laws and spend that money00:17:31
the way the law tells them.00:17:33
And if they fail to do that,
part three is the courts are the ones00:17:38
who step in and enforce the law.00:17:40
I've said this before,
and I'll say it again.00:17:43
Warren's urgency in speaking out
against most things Trump, including his00:17:47
tax and spending bill, is noteworthy.00:17:49
And Warren's willingness
to blast Trump's staffers and sycophants00:17:53
to their face is inspiring.Description:
Get paid to use your phone less! Switch to Noble Mobile today: https://noblemobile.com/tyt Sen. Elizabeth Warren (D-Mass.) sparred with CNBC’s Sara Eisen on after being challenged over her criticism of President Donald Trump’s inconsistent tariff policies. David Shuster breaks it down on Rebel HQ. SUBSCRIBE today: ☞ https://www.youtube.com/rebelhq?sub_confirmation=1 Rebel HQ amplifies some of the most dynamic voices of the progressive movement, with over 20 contributors taking on important and impactful news stories daily. FACEBOOK: ☞ https://www.facebook.com/unsupportedbrowser TWITTER: ☞ https://x.com/TYTPolitics INSTAGRAM: ☞ https://www.facebook.com/unsupportedbrowser TIKTOK: ☞ https://www.tiktok.com/@rebelhq TWITCH: ☞ https://www.twitch.tv/tyt Merch: https://shoptyt.com/ Donate: https://secure.actblue.com/donate/tytgo Website: https://tyt.com/ If you want to watch more videos from TYT, consider subscribing to other channels in our network: The Young Turks https://www.youtube.com/theyoungturks The Watchlist https://www.youtube.com/watchlisttyt Indisputable with Dr. Rashad Richey https://www.youtube.com/indisputabletyt The Damage Report https://www.youtube.com/thedamagereport TYT Sports https://www.youtube.com/tytsports The Conversation https://www.youtube.com/tytconversation TYT Investigates https://www.youtube.com/channel/UCwNJt9PYyN1uyw2XhNIQMMA shuster warren super.mp4
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Warning: this download method no longer works with most YouTube videos.
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