May 17, 2025 • 30 mins
🏛️ Legislative Setback: The “Big Beautiful Bill”
- The House Budget Committee voted down a major budget reconciliation bill championed by Donald Trump.
- The bill was rejected due to opposition from conservative Republicans who felt it didn’t go far enough in advancing Trump’s agenda.
- Key concerns included:
- Front-loaded tax cuts and spending with delayed savings.
- Delayed reforms that might be repealed before implementation.
- Lack of trust in moderate Republicans ("RINOs").
- Despite the setback, Trump and his allies remain optimistic, framing it as a temporary roadblock and emphasizing ongoing negotiations.
🌐 International Achievements
- The document highlights several foreign policy and trade accomplishments claimed by the Trump administration:
- A new UK trade deal.
- A China trade agreement reducing tariffs significantly.
- Ceasefires negotiated with India and Pakistan, and the Houthis.
- The release of an American hostage from Gaza.
💊 Prescription Drug Reform
- Trump announced sweeping reforms aimed at reducing prescription drug prices in the U.S.
- Key points include:
- Ending the U.S. subsidization of foreign healthcare through inflated drug prices.
- Implementing a “Most Favored Nation” pricing model to ensure Americans pay the lowest global price for medications.
- Criticism of Big Pharma and foreign countries for exploiting the U.S. market.
- Emphasis on reducing bankruptcies caused by high medical costs.
📈 Economic and Trade Policy
- The China deal is portrayed as a major win, with tariffs dropping and commitments to open Chinese markets to U.S. goods.
- The administration frames this as a reversal of the failures of previous administrations, particularly the Biden administration.
- The narrative emphasizes Trump’s strength in negotiations and his vision for rebalancing global trade.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
I want to start with some breaking news.
Speaker 2 (00:03):
The House Budget Committee has just voted down what Donald
Trump described as the big Beautiful Bill. Now the question
is why they are seeking more quote conservative reforms. The
House Budget Committee voted down the Budget Reconciliation Bill just
after noon on Friday, in a temporary roadblock for President
(00:27):
Donald Trump's bill that he says we need to get
it done.
Speaker 1 (00:30):
The defeat of the.
Speaker 2 (00:31):
Bill is another expected, if unnecessary bump and the often
messy negotiating process of a massive piece of legislation. And
this is something I want you to understand. I'm not
that surprised over it. It would have been great to
get this thing done quickly and just move it through.
The chance of that happening based on what I was told,
(00:52):
we're probably about five percent, So this is a speed bump.
I want to be clear. And the media is going
to want to dunk on this. I do not believe
this is going to derail the agenda of Donald Trump
or the quote big beautiful bill. I just want to
be clear now. It is not the headline that we wanted,
all right. This is one that we I think the
(01:14):
Republicans should have tried to avoid and putting it in context,
this is one of those moments where the Democrats and
the media, they're going to dunk on it big. All right, now,
let me give you the background on this so you understand.
Conservatives on the committee made it clear before the committee
markup of the bill that they were against the bill
in its current form, stating that it felt short three
(01:38):
to two one, stating that it felt short of fully
realizing Donald Trump's transformative agenda. Quote unquote, Speaker Mike Johnson
chose to go ahead with the scheduled markup of this bill.
Some thought that was a bad idea. We'll see how
it plays out. So then fast forward to Friday four, Conservatives,
(01:58):
along with another Republican who changes vote for procedural reasons,
opposed the bill, which went down sixteen to twenty one.
You had Representative from Texas, Chip Roy, you had Ralph
Norman from South Carolina.
Speaker 1 (02:16):
You had Josh Rattin.
Speaker 2 (02:18):
A Republican from Oklahoma, and you had Andrew Clyde, a
Republican from South Carolina. That all jumped on board to
say we're going to stop this now. House conservatives requested
more changes in order to make a bigger, more beautiful
bill is the way they described it. Their concerns varied
from spending and taxes to Second Amendment provisions, but they
(02:40):
also raised concerns that many of the reforms in the
legislation were postponed for years and would likely be eliminated
in future legislation before they could even take effect. Chip
Roy putting out tweets saying, quote, why there's a problem.
The House bill front loads tax cuts and spending and
then backloads the savings. And he had a chart that
(03:03):
he put up basically saying that we wouldn't get the
best effects of this until twenty thirty and that's not
what the American people actually voted for. Now, the committee
has not expected to meet again, according to the House
Budget Committee Chairman Jody R.
Speaker 1 (03:19):
Arrington.
Speaker 2 (03:20):
He's a Republican from Texas who voted to avance the
bill despite agreeing with the no votes that the bill
must be improved before final passage on the House floor,
a sentiment shared by other Republicans also on the committee.
But the four Conservatives on the House Freedom Caucus one
of these changes made sooner rather than later, because well,
they don't trust the rhinos.
Speaker 1 (03:40):
I understand that. Okay, the rhinos.
Speaker 2 (03:43):
They always will screw you at the last moment, especially
when you're trying to get a deal done. So I
get them saying we want it on the front end.
I understand the thinking here and I want you to
understand that as well. They said, despite voting no, they
remained willing to work towards a quote compromising this.
Speaker 1 (04:00):
We are continuing to negotiate.
Speaker 2 (04:02):
That is what a spokesman for the House Freedom Caccus said.
Speaker 1 (04:07):
We are not leaving right now.
Speaker 2 (04:09):
We have been making progress and are continuing our work
on the legislation. The House Freedom cauc is putting out
this statement on Twitter saying, and I'm going to quote
it exactly so you understand their viewpoint.
Speaker 1 (04:21):
Said quote Representats Roy Norman, Riche.
Speaker 2 (04:24):
And Claude and others continue to work in good faith
to enact President's big beautiful bill quote unquote. We were
making progress before the vote and the Budget Committee and
will continue negotiations to further improve the reconciliation package.
Speaker 1 (04:37):
We are not going anywhere, and we will.
Speaker 2 (04:38):
Continue to work through the weekend, meaning obviously right now.
So when you look at this and what we under
what we understand now is, look, I think Trump's frustrated
by this, but this will overcome and will They will
figure it out and they will do it now. Trump
posted on true Social Friday morning, saying this quote, Republics
(05:00):
Wicks must unite behind.
Speaker 1 (05:01):
The one Big, beautiful bill.
Speaker 2 (05:04):
Not only does it cut taxes for all Americans, but
it will kick millions of illegal aliens off of Medicaid
to protect it for those who are the ones in
real need. The country will suffer greatly without this legislation,
with their taxes going up sixty five percent. It will
be blamed on Democrats, but that doesn't help our voters.
(05:26):
We don't need grand standards in the Republican Party. Stop
talking and get it done. It's time to fix the
mess that Biden the Democrats gave us.
Speaker 1 (05:35):
So that was what he said on true Social. Now.
Trump's urgency is understandable.
Speaker 2 (05:40):
His team has continued to work with members of Congress
as the process moves forward, is what the White House
said Friday afternoon. The ultimate ambitious goal of sending a
bill to Trump's desk by July fourth remains achievable, is
what the White House is saying as well now. Before
Friday's vote, Mike Lee told Breitbart News exclusive that the
(06:00):
legislative process isn't easy, but that Republicans working to make
further changes to the bill are doing so to ensure
it advances what Trump is laid out and what needs
to be done that both he and those who elected
him have quote demanded.
Speaker 1 (06:18):
So you can understand the kind of more of the
background this.
Speaker 2 (06:21):
There are some things that we need to address as
we advance legislation in order to advance President Donald Trump's
agenda in order to advance what he has laid out
as what needs to be done that both he and
those who elected him have demanded.
Speaker 1 (06:35):
Is what Lee also went on to say.
Speaker 2 (06:37):
Now, despite this setback, all right, I want to be
clear before the media.
Speaker 1 (06:42):
Punks you and lies to you.
Speaker 2 (06:45):
I have no doubt the House will eventually pass this
bill in a form that will probably better than what
it is today.
Speaker 1 (06:51):
All right.
Speaker 2 (06:52):
I have no doubt that negotiations are likely to continue
throughout the weekend based on the members that I've talked to. Now,
once the Budget Committee passes the bill, then this big,
beautiful bill has another big hurdle. It has the Senate, okay,
and the Senate must consider it where further changes are
likely to be made, which would necessitate House passage of
(07:14):
the Senate amended bill or more likely a conference committee
for further negotiations. So again, the President wants this by
July fourth. He wants to have a big moment July
fourth talking about what he has done for the American people.
And that's really important. That's a good thing. It's something
that the president has on his calendar. And look, I
(07:35):
like having a timeline of getting things done. I think
it's important that we get things done in a timely manner.
And if we don't get things done a tily man
and then what you end up having is things fall
through the cracks, right, and we don't get things done
the way we want them done, and then we stall
out and then before we know, it's the midterms.
Speaker 1 (07:56):
And we got nothing done.
Speaker 2 (07:57):
That is the biggest concern that I have here, Like,
that's the biggest problem that I have, is that we
can end up in that scenario, that situation. So to
recap for you, I want to be clear, I don't
think this is doom and gloom. I think more than like,
we were probably going to get a better deal done
than we would have before. That's a huge bonus. That's
(08:20):
something that we should all be very excited about. So
I want to be clear that's number one. Number two,
I think the President putting pressure on them to work
through the weekend is a smart political move. It is
a move that he understands. I don't want you going home.
I don't want this thing to stall. I don't want
this thing to linger. I want to get it done.
(08:43):
So that's part two that I think also is extremely
important here. And finally, let me just put it this way.
The idea that this big, beautiful bill was just going
to run through Congress, I think was a great idea
in theory. I don't believe it was ever going to
be reality, and I think that's what we're witnessing now.
Speaker 1 (09:03):
And look, the President hates it when they drag their feet.
Speaker 2 (09:06):
There's a lot of people that are doing a lot
of things on this bill, and there are a lot
of rhinos that are gonna want things in this bill,
and it's going to get complicated.
Speaker 1 (09:13):
I don't think it's going to be the last hurdle.
Speaker 2 (09:16):
But I also do think that the American people have
a mandate on Congress to actually get it done. And
I do think that's part of the important part here
is that. So I'm going to keep you updated on it.
We're going to watch it throughout the weekend for you
that I can promise you. We have got a lot
that has happened at the White House. In fact, and
just the last week, President Trump has secured a UK
(09:38):
trade deal, which is already old news. We now have
this China trade deal. We have the release of an
American hostage. We have the ceasefire with India and Pakistan,
and a ceasefire with the who thies? And where's the
media obsessing over well, saying that Donald Trump's deal with
China may not actually work out, and that's what you
should really be focusing on. Press singer Terry, coming out
(10:01):
on Fox and Friends Monday morning, sang the stage for
all of this, saying, this told.
Speaker 3 (10:06):
You the next one hundred days would consist of peace
deals in trade deals, and that's exactly what we have seen.
The President announced last week the big trade deal with
the UK, as you mentioned, now we have a first
deal with China. Just yesterday, the President announced the release
of the last remaining American hostage in Gaza, Eden, Alexander,
who will soon be united with his loving family, God
(10:27):
bless him. That's thanks to President Trump. We also negotiated
a ceasefire with the Hoothies, and President Trump was instrumental
in negotiating a ceaspire with India and Pakistan.
Speaker 1 (10:37):
This is all in the last week.
Speaker 3 (10:39):
President Trump and his team are working incredibly hard on
behalf of the country and the world to secure peace deals,
in trade deals, and don't forget, we have a tax
deal coming too. The administration is working with Capitol Hill
to sign the largest tax cuts in American history.
Speaker 2 (10:54):
Right now, you listen to this White House and time
and time again, this administration is telling you what they're
gonna do. The left says it's impossible, that it cannot happen,
and then they pay off on it and they do it.
You look at the president right now on the issue
of China.
Speaker 1 (11:13):
Just this week, I was.
Speaker 2 (11:14):
On CNN and one of the people from the view
in Navarro Post of Views, she's on CNN. She's like,
and another expert quote unquote expert when it comes to
economy we're on.
Speaker 1 (11:25):
They're like, well, there's a very.
Speaker 2 (11:26):
Good chance these trade deals won't even get done this year.
And I'm like, that's not true, that's absolutely not true.
And I fought back hard because they're just lying and
they're like, well, the American people can't handle these trade
deals and there's gonna be empty shelves because this is
going to drag.
Speaker 1 (11:39):
On into next year.
Speaker 2 (11:41):
Well, what happened with China here is part of what
the White House said about that.
Speaker 4 (11:45):
First off, your reaction and what could you tell us
about the China deal that has tariffs dropping from one
hundred and forty five to one five respectively.
Speaker 1 (11:54):
To thirty and ten.
Speaker 3 (11:57):
This is an extraordinary first step in the right and
thanks to the strength of President Trump, Secretary Besant, and
Ambassador Greer, we're able to cut this initial deal with China.
China agreed to reduce their tariffs on the United States
by one hundred and fifteen percent. They also agreed to
continue having discussions about opening Chinese markets to American made
(12:19):
products and goods. And they also agreed to continue seriously
discussing the grave impact that Chinese produced fetanol is having
right here in the United States and our people. So
this is a great first step for the American public,
and Secretary Best and Ambassador Greer, and of course President
Trump will continue negotiations with China. So we can hopefully
inevitably get to a fair and comprehensive big trade deal.
Speaker 2 (12:42):
So yet again what the media and the lapset was
impossible has become a reality. President Trump also on Monday
saying this about China and.
Speaker 4 (12:51):
The deal, and they've agreed to open China, fully open China,
and I think it's going to be fantastic for China.
I think it's going to be fantastic for US, and
I think it's going to be.
Speaker 5 (13:01):
Great for unification and peace.
Speaker 4 (13:04):
China will also suspend and remove all of its non
monetary barriers. They've agreed to do that. Well, they're very numerous.
But again, to me, the biggest thing that came out
of that meeting is they've agreed. Now we have to
get it papered, but they've agreed to open up China.
Going to be great for everybody.
Speaker 2 (13:22):
And look, this is the President United States of America
having dialogue and conversations and sending an envoy to Geneva,
where he said, we've got to let them understand they've
been taking advantage of us.
Speaker 1 (13:33):
They know that we're not going to let them keep
doing it.
Speaker 2 (13:36):
They know that, so let's do a better deal for
both nations, and so as you describe what happened Geneva,
here's what he said with more details.
Speaker 4 (13:46):
In addition, yesterday we achieved a total reset with China
after productive talks in Geneva. Both sides now agreed to
reduce the tariffs imposed after April two to ten percent
for ninety days, as negotiators continue in the largest structural issues.
Speaker 5 (14:06):
And I want to tell you that a couple of things.
Speaker 4 (14:09):
First of all, that doesn't include the tariffs that are
already on that are our tariffs, And it doesn't include
tariffs on cars, steel, aluminum, things such as that, or
tariffs that may be imposed on pharmaceuticals, because we want
to bring the pharmaceutical businesses back to the United States
and they're already starting to come back now based on tariffs.
Speaker 2 (14:32):
So let me walk you through where we were and
where we are now, because if you look at this timeline,
it's one that you need to understand not only how
quickly this happened, but also what the art of the
deal look like. I'm going to take you back to
Phase one of the trade agreement, signed January the fifteenth
of twenty twenty. All right, Phase one of the agreement
(14:53):
back then aimed to ease trade tensions between the US
and China that it escalated. They claim since twenty eighteen,
China commitments were to increase the purchase of US goods
and services by two hundred billion over twenty twenty twenty
twenty one compared to quote twenty seventeen levels.
Speaker 1 (15:10):
Guess what happened. They didn't do that.
Speaker 2 (15:11):
They also claim they were going to enhance intellectual property protections.
Speaker 1 (15:14):
They didn't do it.
Speaker 2 (15:16):
They said they were going to eliminate force technology transfers,
they lied, they didn't do it. They said they were
going to reframe from competitive currency devaluation.
Speaker 1 (15:24):
They lied.
Speaker 2 (15:24):
They are currency they do currency manipulation all the time.
Speaker 1 (15:29):
They didn't do it.
Speaker 2 (15:29):
Now again, I go back to their lies with the
Obama Biden regime and the Biden Harrish regime. They said
they were going to improve access for US financial services firms.
All of that was a lie. None of it worked.
So you now look and you move forward from there. Right,
they were lying. They're taking advantage of us. They have
tars on our stuff. They don't like our stuff going
to their country. You move forward to twenty twenty five
(15:53):
May the twelfth and here's what we now know. There
was this trade tension. They took advantage of us. The
Presence said no more, and he said we're done. We're
gonna basically put imports to one hundred and forty five percent.
You now see where we are today on the twelfth,
and the US tarifs on Chinese imports are gone from
(16:14):
one hundred and forty five percent to down to thirty percent.
Chinese tariffs on US goods have been reduced from one
hundred and twenty five percent to ten percent, and the
reductions are set for ninety day periods, during which they
say further negotiations will continue. Global stock markets what do
they do? They didn't listen to the media or the
left or the Democrats. They surge with significant gains and
(16:37):
major indexes. The US dollar also strengthened, and commodity price
including crude oil, rows significantly.
Speaker 1 (16:46):
While the agreement is seen as.
Speaker 2 (16:47):
A quote positive step, experts quote caution it may be
temporary fixed without addressing underlying issues.
Speaker 1 (16:55):
That's the economic times. Again.
Speaker 2 (16:57):
You cannot trust the media and how they're doing. So
what is the takeaway from this? The takeaway is pretty simple.
US China trade the relations are seeing a significant development
in favor of the US. China needs America more than
we need China, is what they are now signaling. They
were going to have major economic problems in China. That's
(17:19):
the reason why they decide to come forward and do
this deal now. And look, if you listen to what
those around the president said about this deal, President Trump
outlining a vision they said for rebranding and rebalancing global trade.
I want you to hear what Scott Bess said had
to say, Take a listen.
Speaker 6 (17:39):
This administration is running full speed to make sure that
what we saw during COVID never happens again. So it's
a combination of it can be terrorists, but again it
is the administration moving as quickly as possible to make
sure that we are self sufficient in the strategic industries.
Speaker 7 (18:01):
I think that's completely understandable from the United States side.
Speaker 1 (18:05):
And I want to miss the.
Speaker 7 (18:06):
Secretary whether the Chinese understood that. Did you get the
sense they do understand that that will be the road
forward for the United States.
Speaker 6 (18:15):
Well, I think they understand that, and I think they
understand that we are focused on fair trade, that this
gigantic deficit that we have with them, that it didn't
happen last year. It didn't happen there before. It's happened
over decades, and that this happened half excuse me has.
Speaker 1 (18:36):
To be remedied.
Speaker 6 (18:38):
The China shock gutted our manufacturing sector, and we want
to bring that back. On the other side, Party Chair,
she has said that he would like to increase consumption,
but to date the Chinese had just increased manufacturing. So
we would like to see them increase consumption. We would
(18:59):
like to see open their market to American products. So
there are two ways to rebalance. One is fewer Chinese
goods in the US market. The other is more American
goods in the Chinese market. And my guess is that
the answer is somewhere in between.
Speaker 2 (19:19):
So you listen to what the President outlined a vision
for a rebalance, and we're getting it this ninety days
to move forward with lowering these tariffs on each country
and China moving several steps closer to achieving a major
renegotiation deal. Everyone said this was impossible, and it's happening.
(19:42):
I mentioned earlier that China ignored and broke virtually everything
from twenty twenty to twenty twenty four that we had
had in agreements before them. Currency manipulation laugh in our
face is a great example of that. Second Trader Secretary
Bassett also said this about China and why they were
able to get away with ignoring the trade agreement that
(20:03):
was set up by Trump in twenty sixteen through twenty twenty,
that Joe Biden inherited that they just they didn't care
because they knew Joe Biden was weak.
Speaker 1 (20:11):
They owned him.
Speaker 2 (20:12):
This goes back to the corruption with the Biden crime family.
China was paying off the President's family clearly, and the
ten percent for the big guy.
Speaker 1 (20:23):
They knew they didn't have to play by the rules.
Speaker 6 (20:26):
What has to happen is it has to be fair
for the American people. But in January twenty twenty, President
Trump produced a template.
Speaker 1 (20:35):
We had an excellent.
Speaker 6 (20:37):
Trade agreement with China, and the Biden administration chose.
Speaker 1 (20:43):
Not to enforce it.
Speaker 6 (20:45):
The Chinese delegation basically told us that once President Biden
came into office, they just ignored their obligations. So we
all already have a large framework. The other thing to
remember here, Jonathan, is this is a pause down to
ten percent. The April second level for China is thirty
(21:08):
four percent, so we will be working to see where
their final reciprocal number ends up. And the negotiations are
a combination of tariffs, non tariff, trade barriers, currency manipulation,
and subsidies of labor and capital.
Speaker 2 (21:29):
So this is all part of the Grand Plan. Trump
has a China trade deal. They said it couldn't happen.
Trump is lowering prescription drug prices. That's another thing that
he did as well. So let's move to that because
that's another big part of this story right now that
you need to understand. The President coming out making it
very cleared that it's time for us to fight big pharma,
(21:53):
as he put it, fight them and make sure that
America is no longer taking advantage of. Same with what
we just talked about with China, but now this applies
to us and to what we're dealing with with prescription
drug prices that are clearly out of control. Take a
(22:13):
listen to President talking about this at the White House.
Are saying we are no longer going to be taken
advantage of, and the rest of the world is going
to have to pay their fair share, and we're not
going to subsidize these companies.
Speaker 4 (22:25):
But starting today, the United States will no longer subsidize
the healthcare of foreign countries, which is what we were doing.
We were subsidizing others healthcare countries where they paid a
small fraction of what for the same drug.
Speaker 5 (22:40):
That what we pay many, many times and more for.
Speaker 4 (22:43):
And we're no longer tolerate profiteering and price gouging from
big pharma. But again, it was really the countries that
forced big pharma to do things that frankly, I'm not
sure they really felt comfortable doing. But they've gotten away
with it these countries. European Union has been brutal, and
(23:03):
the drug companies actually told me, sir is, it was
just brutal how they forced them, and European Union suing
all our companies, Apple, Google, Meta, they're suing all of
our companies. They end up they have judges that are
European Union centric and they get rewarded fifteen billion, seventeen billion,
(23:28):
twenty billion, and they use that to run their operation.
Speaker 2 (23:34):
Not going to happen any longer that I can tell you,
not going to happen any longer that I can tell you.
And so is this going to be a slash and
the prices for you? The American people, Yes, how do
we know it? Here's the president on that.
Speaker 4 (23:49):
So for the first time in many years, we'll slash
the costs of prescription drugs and we will bring fairness
to America.
Speaker 5 (23:55):
Drug prices will come down by much more. Really, if
you think fifty nine, if you think of a.
Speaker 4 (24:02):
Drug that is sometimes ten times more expensive, it's much
more than the fifty nine percent. You know, it depends
on the way you want to analyze it. But in
one way, you could analyze it that way, but between
fifty nine and eighty and I guess even ninety percent.
So when I worked so hard in the first term,
and if I got prices down, I remember I was
(24:24):
the only one to ever get prices.
Speaker 5 (24:25):
Down for a full year.
Speaker 4 (24:27):
But I get them down like two percent, and I
thought it was like a big deal. Well we're getting
them down sixty seventy eighty ninety percent, But actually more
than that if you think about it in the way mathematically,
and Farmer has to say, we're sorry, but we'll not
be able to do this any longer. To these to
(24:47):
these countries that have been so tough, they've been very tough, nasty.
Speaker 5 (24:52):
It's trade.
Speaker 4 (24:53):
It's trade, and Farmer is also very powerful, and the
Democrats have protected farmer.
Speaker 2 (25:00):
And look, the President wasn't done there, as he explained
to the American.
Speaker 1 (25:04):
People, and this is good for everyone. This is not
a political statement the president's making.
Speaker 2 (25:09):
He's talking about how much more we are paying then
other countries are paying for the same drugs made in
the same pharmaceutical labs. The same damn pill in the
same place comes off the line, and it goes to
one country and they pay ten cents on the dollar
compared to the US.
Speaker 1 (25:25):
It's wrong.
Speaker 4 (25:26):
So today Americans spend seventy percent more for prescription drugs
than we spent in the year two thousand.
Speaker 5 (25:33):
Think of that our.
Speaker 4 (25:35):
Country has the highest drug prices anywhere in the world
by sometimes a factor of five, six seven, eight times.
It's not like this slightly higher that six seven, eight times.
There are even cases of ten times higher, so that
you go ten times more expensive for the same drug.
Speaker 5 (25:52):
That's big numbers.
Speaker 4 (25:54):
Even though the United States is home to only four
percent of the world's population, pharmacutical companies make more than
two thirds of their profits in America. So think of that,
with four percent of the population, the pharmaceutical companies make
most of their money, most of their profits from America.
Speaker 5 (26:12):
That's not a good thing. Now.
Speaker 4 (26:15):
I think, by the way pharmaceutical I have great respect
for these companies and for.
Speaker 5 (26:19):
The people that run them. I really do, and I
think they did.
Speaker 4 (26:22):
One of the greatest jobs in history for their company
convincing people for many years that this was a fair system.
Never nobody really understood why, but I figured it out.
For years, pharmaceutical and drug companies have said that research
and development costs were what they are for no reason whatsoever.
Speaker 5 (26:45):
They had to be borne by America alone. Not anymore.
Speaker 2 (26:50):
They don't, not anymore, they don't the present saying we're
going to most favored nation prescription drug pricing. This is
where it's going to affect you in your bottom line
when you go shopping for drugs that you need.
Speaker 1 (27:06):
And here is how that's going to work.
Speaker 4 (27:08):
But it's called most favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price, that's the
price that we're going to get.
Speaker 5 (27:19):
So remember that.
Speaker 4 (27:20):
So we're no longer paying ten times more than another country.
Whoever is paying the lowest price, we will look at
that price and we will say that's the price we're
going to pay most favored nations. That's what it is.
One breast cancer drug costs Americans over sixteen thousand dollars
(27:41):
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one tenth.
Speaker 5 (27:57):
For the identical product.
Speaker 4 (28:01):
A common asthma drug costs almost five hundred dollars here
in America, but costs less than forty dollars in the
United Kingdom. So forty dollars in the United Kingdom, which
is where this gentleman told me he paid a small
amount for his shot. But think of that, So forty
dollars versus five hundred dollars here.
Speaker 2 (28:26):
Forty dollars compared to four or five hundred dollars here.
You have a president that is saying it very clearly.
This should have been done a long time ago. We
should have made it competitive market. That's what the American
people should have expected here. And one of the biggest
problems is when it comes to this is we have
(28:47):
so many people that are filing bankruptcy, so many Americans
that are that are filing bankruptcy because of these incredibly
high prices. This is a historic day for the president.
It's a story day, by the way, for the American people.
It's something that we should all be so excited about
because we finally have a president that is saying no
(29:10):
more to bankruptcy because of people that are having to
mortgage their homes and second mortgage and third mortgage to
pay for life saving pills that other countries are paying pennies.
Speaker 1 (29:18):
On the dollar for.
Speaker 2 (29:19):
It's exactly, by the way, what the NIH director had to.
Speaker 8 (29:22):
Say, I firmly believe in research and development for drugs.
I mean, it's part of the NIX mission to look
for fundamental biological advances that develop in better treatments. But
why should it only be American taxpayers that pay for that.
What President Trump is doing is saying enough, let's have
a broader base of support for this research mission. It's
(29:44):
actually pro in some ways pro pharmas because it's going
to expand the set of of sort of stakeholders to
include Europeans as well for the support of R and D,
while at the same time protecting American taxpayers from having
to pay such high prices for drugs. I mean, we
have patients going bankrupt over high health bills.
Speaker 2 (30:04):
We have a going bankrupt, and the present's trying to
stop that. Don't forget we do this show every day,
so make sure you hit that subscribe or auto download
button so you don't miss any of the interviews we do,
especially with members of the administration. And I'll see you
back here tomorrow morning.
I want to start with some breaking news.
Speaker 2 (00:03):
The House Budget Committee has just voted down what Donald
Trump described as the big Beautiful Bill. Now the question
is why they are seeking more quote conservative reforms. The
House Budget Committee voted down the Budget Reconciliation Bill just
after noon on Friday, in a temporary roadblock for President
(00:27):
Donald Trump's bill that he says we need to get
it done.
Speaker 1 (00:30):
The defeat of the.
Speaker 2 (00:31):
Bill is another expected, if unnecessary bump and the often
messy negotiating process of a massive piece of legislation. And
this is something I want you to understand. I'm not
that surprised over it. It would have been great to
get this thing done quickly and just move it through.
The chance of that happening based on what I was told,
(00:52):
we're probably about five percent, So this is a speed bump.
I want to be clear. And the media is going
to want to dunk on this. I do not believe
this is going to derail the agenda of Donald Trump
or the quote big beautiful bill. I just want to
be clear now. It is not the headline that we wanted,
all right. This is one that we I think the
(01:14):
Republicans should have tried to avoid and putting it in context,
this is one of those moments where the Democrats and
the media, they're going to dunk on it big. All right, now,
let me give you the background on this so you understand.
Conservatives on the committee made it clear before the committee
markup of the bill that they were against the bill
in its current form, stating that it felt short three
(01:38):
to two one, stating that it felt short of fully
realizing Donald Trump's transformative agenda. Quote unquote, Speaker Mike Johnson
chose to go ahead with the scheduled markup of this bill.
Some thought that was a bad idea. We'll see how
it plays out. So then fast forward to Friday four, Conservatives,
(01:58):
along with another Republican who changes vote for procedural reasons,
opposed the bill, which went down sixteen to twenty one.
You had Representative from Texas, Chip Roy, you had Ralph
Norman from South Carolina.
Speaker 1 (02:16):
You had Josh Rattin.
Speaker 2 (02:18):
A Republican from Oklahoma, and you had Andrew Clyde, a
Republican from South Carolina. That all jumped on board to
say we're going to stop this now. House conservatives requested
more changes in order to make a bigger, more beautiful
bill is the way they described it. Their concerns varied
from spending and taxes to Second Amendment provisions, but they
(02:40):
also raised concerns that many of the reforms in the
legislation were postponed for years and would likely be eliminated
in future legislation before they could even take effect. Chip
Roy putting out tweets saying, quote, why there's a problem.
The House bill front loads tax cuts and spending and
then backloads the savings. And he had a chart that
(03:03):
he put up basically saying that we wouldn't get the
best effects of this until twenty thirty and that's not
what the American people actually voted for. Now, the committee
has not expected to meet again, according to the House
Budget Committee Chairman Jody R.
Speaker 1 (03:19):
Arrington.
Speaker 2 (03:20):
He's a Republican from Texas who voted to avance the
bill despite agreeing with the no votes that the bill
must be improved before final passage on the House floor,
a sentiment shared by other Republicans also on the committee.
But the four Conservatives on the House Freedom Caucus one
of these changes made sooner rather than later, because well,
they don't trust the rhinos.
Speaker 1 (03:40):
I understand that. Okay, the rhinos.
Speaker 2 (03:43):
They always will screw you at the last moment, especially
when you're trying to get a deal done. So I
get them saying we want it on the front end.
I understand the thinking here and I want you to
understand that as well. They said, despite voting no, they
remained willing to work towards a quote compromising this.
Speaker 1 (04:00):
We are continuing to negotiate.
Speaker 2 (04:02):
That is what a spokesman for the House Freedom Caccus said.
Speaker 1 (04:07):
We are not leaving right now.
Speaker 2 (04:09):
We have been making progress and are continuing our work
on the legislation. The House Freedom cauc is putting out
this statement on Twitter saying, and I'm going to quote
it exactly so you understand their viewpoint.
Speaker 1 (04:21):
Said quote Representats Roy Norman, Riche.
Speaker 2 (04:24):
And Claude and others continue to work in good faith
to enact President's big beautiful bill quote unquote. We were
making progress before the vote and the Budget Committee and
will continue negotiations to further improve the reconciliation package.
Speaker 1 (04:37):
We are not going anywhere, and we will.
Speaker 2 (04:38):
Continue to work through the weekend, meaning obviously right now.
So when you look at this and what we under
what we understand now is, look, I think Trump's frustrated
by this, but this will overcome and will They will
figure it out and they will do it now. Trump
posted on true Social Friday morning, saying this quote, Republics
(05:00):
Wicks must unite behind.
Speaker 1 (05:01):
The one Big, beautiful bill.
Speaker 2 (05:04):
Not only does it cut taxes for all Americans, but
it will kick millions of illegal aliens off of Medicaid
to protect it for those who are the ones in
real need. The country will suffer greatly without this legislation,
with their taxes going up sixty five percent. It will
be blamed on Democrats, but that doesn't help our voters.
(05:26):
We don't need grand standards in the Republican Party. Stop
talking and get it done. It's time to fix the
mess that Biden the Democrats gave us.
Speaker 1 (05:35):
So that was what he said on true Social. Now.
Trump's urgency is understandable.
Speaker 2 (05:40):
His team has continued to work with members of Congress
as the process moves forward, is what the White House
said Friday afternoon. The ultimate ambitious goal of sending a
bill to Trump's desk by July fourth remains achievable, is
what the White House is saying as well now. Before
Friday's vote, Mike Lee told Breitbart News exclusive that the
(06:00):
legislative process isn't easy, but that Republicans working to make
further changes to the bill are doing so to ensure
it advances what Trump is laid out and what needs
to be done that both he and those who elected
him have quote demanded.
Speaker 1 (06:18):
So you can understand the kind of more of the
background this.
Speaker 2 (06:21):
There are some things that we need to address as
we advance legislation in order to advance President Donald Trump's
agenda in order to advance what he has laid out
as what needs to be done that both he and
those who elected him have demanded.
Speaker 1 (06:35):
Is what Lee also went on to say.
Speaker 2 (06:37):
Now, despite this setback, all right, I want to be
clear before the media.
Speaker 1 (06:42):
Punks you and lies to you.
Speaker 2 (06:45):
I have no doubt the House will eventually pass this
bill in a form that will probably better than what
it is today.
Speaker 1 (06:51):
All right.
Speaker 2 (06:52):
I have no doubt that negotiations are likely to continue
throughout the weekend based on the members that I've talked to. Now,
once the Budget Committee passes the bill, then this big,
beautiful bill has another big hurdle. It has the Senate, okay,
and the Senate must consider it where further changes are
likely to be made, which would necessitate House passage of
(07:14):
the Senate amended bill or more likely a conference committee
for further negotiations. So again, the President wants this by
July fourth. He wants to have a big moment July
fourth talking about what he has done for the American people.
And that's really important. That's a good thing. It's something
that the president has on his calendar. And look, I
(07:35):
like having a timeline of getting things done. I think
it's important that we get things done in a timely manner.
And if we don't get things done a tily man
and then what you end up having is things fall
through the cracks, right, and we don't get things done
the way we want them done, and then we stall
out and then before we know, it's the midterms.
Speaker 1 (07:56):
And we got nothing done.
Speaker 2 (07:57):
That is the biggest concern that I have here, Like,
that's the biggest problem that I have, is that we
can end up in that scenario, that situation. So to
recap for you, I want to be clear, I don't
think this is doom and gloom. I think more than like,
we were probably going to get a better deal done
than we would have before. That's a huge bonus. That's
(08:20):
something that we should all be very excited about. So
I want to be clear that's number one. Number two,
I think the President putting pressure on them to work
through the weekend is a smart political move. It is
a move that he understands. I don't want you going home.
I don't want this thing to stall. I don't want
this thing to linger. I want to get it done.
(08:43):
So that's part two that I think also is extremely
important here. And finally, let me just put it this way.
The idea that this big, beautiful bill was just going
to run through Congress, I think was a great idea
in theory. I don't believe it was ever going to
be reality, and I think that's what we're witnessing now.
Speaker 1 (09:03):
And look, the President hates it when they drag their feet.
Speaker 2 (09:06):
There's a lot of people that are doing a lot
of things on this bill, and there are a lot
of rhinos that are gonna want things in this bill,
and it's going to get complicated.
Speaker 1 (09:13):
I don't think it's going to be the last hurdle.
Speaker 2 (09:16):
But I also do think that the American people have
a mandate on Congress to actually get it done. And
I do think that's part of the important part here
is that. So I'm going to keep you updated on it.
We're going to watch it throughout the weekend for you
that I can promise you. We have got a lot
that has happened at the White House. In fact, and
just the last week, President Trump has secured a UK
(09:38):
trade deal, which is already old news. We now have
this China trade deal. We have the release of an
American hostage. We have the ceasefire with India and Pakistan,
and a ceasefire with the who thies? And where's the
media obsessing over well, saying that Donald Trump's deal with
China may not actually work out, and that's what you
should really be focusing on. Press singer Terry, coming out
(10:01):
on Fox and Friends Monday morning, sang the stage for
all of this, saying, this told.
Speaker 3 (10:06):
You the next one hundred days would consist of peace
deals in trade deals, and that's exactly what we have seen.
The President announced last week the big trade deal with
the UK, as you mentioned, now we have a first
deal with China. Just yesterday, the President announced the release
of the last remaining American hostage in Gaza, Eden, Alexander,
who will soon be united with his loving family, God
(10:27):
bless him. That's thanks to President Trump. We also negotiated
a ceasefire with the Hoothies, and President Trump was instrumental
in negotiating a ceaspire with India and Pakistan.
Speaker 1 (10:37):
This is all in the last week.
Speaker 3 (10:39):
President Trump and his team are working incredibly hard on
behalf of the country and the world to secure peace deals,
in trade deals, and don't forget, we have a tax
deal coming too. The administration is working with Capitol Hill
to sign the largest tax cuts in American history.
Speaker 2 (10:54):
Right now, you listen to this White House and time
and time again, this administration is telling you what they're
gonna do. The left says it's impossible, that it cannot happen,
and then they pay off on it and they do it.
You look at the president right now on the issue
of China.
Speaker 1 (11:13):
Just this week, I was.
Speaker 2 (11:14):
On CNN and one of the people from the view
in Navarro Post of Views, she's on CNN. She's like,
and another expert quote unquote expert when it comes to
economy we're on.
Speaker 1 (11:25):
They're like, well, there's a very.
Speaker 2 (11:26):
Good chance these trade deals won't even get done this year.
And I'm like, that's not true, that's absolutely not true.
And I fought back hard because they're just lying and
they're like, well, the American people can't handle these trade
deals and there's gonna be empty shelves because this is
going to drag.
Speaker 1 (11:39):
On into next year.
Speaker 2 (11:41):
Well, what happened with China here is part of what
the White House said about that.
Speaker 4 (11:45):
First off, your reaction and what could you tell us
about the China deal that has tariffs dropping from one
hundred and forty five to one five respectively.
Speaker 1 (11:54):
To thirty and ten.
Speaker 3 (11:57):
This is an extraordinary first step in the right and
thanks to the strength of President Trump, Secretary Besant, and
Ambassador Greer, we're able to cut this initial deal with China.
China agreed to reduce their tariffs on the United States
by one hundred and fifteen percent. They also agreed to
continue having discussions about opening Chinese markets to American made
(12:19):
products and goods. And they also agreed to continue seriously
discussing the grave impact that Chinese produced fetanol is having
right here in the United States and our people. So
this is a great first step for the American public,
and Secretary Best and Ambassador Greer, and of course President
Trump will continue negotiations with China. So we can hopefully
inevitably get to a fair and comprehensive big trade deal.
Speaker 2 (12:42):
So yet again what the media and the lapset was
impossible has become a reality. President Trump also on Monday
saying this about China and.
Speaker 4 (12:51):
The deal, and they've agreed to open China, fully open China,
and I think it's going to be fantastic for China.
I think it's going to be fantastic for US, and
I think it's going to be.
Speaker 5 (13:01):
Great for unification and peace.
Speaker 4 (13:04):
China will also suspend and remove all of its non
monetary barriers. They've agreed to do that. Well, they're very numerous.
But again, to me, the biggest thing that came out
of that meeting is they've agreed. Now we have to
get it papered, but they've agreed to open up China.
Going to be great for everybody.
Speaker 2 (13:22):
And look, this is the President United States of America
having dialogue and conversations and sending an envoy to Geneva,
where he said, we've got to let them understand they've
been taking advantage of us.
Speaker 1 (13:33):
They know that we're not going to let them keep
doing it.
Speaker 2 (13:36):
They know that, so let's do a better deal for
both nations, and so as you describe what happened Geneva,
here's what he said with more details.
Speaker 4 (13:46):
In addition, yesterday we achieved a total reset with China
after productive talks in Geneva. Both sides now agreed to
reduce the tariffs imposed after April two to ten percent
for ninety days, as negotiators continue in the largest structural issues.
Speaker 5 (14:06):
And I want to tell you that a couple of things.
Speaker 4 (14:09):
First of all, that doesn't include the tariffs that are
already on that are our tariffs, And it doesn't include
tariffs on cars, steel, aluminum, things such as that, or
tariffs that may be imposed on pharmaceuticals, because we want
to bring the pharmaceutical businesses back to the United States
and they're already starting to come back now based on tariffs.
Speaker 2 (14:32):
So let me walk you through where we were and
where we are now, because if you look at this timeline,
it's one that you need to understand not only how
quickly this happened, but also what the art of the
deal look like. I'm going to take you back to
Phase one of the trade agreement, signed January the fifteenth
of twenty twenty. All right, Phase one of the agreement
(14:53):
back then aimed to ease trade tensions between the US
and China that it escalated. They claim since twenty eighteen,
China commitments were to increase the purchase of US goods
and services by two hundred billion over twenty twenty twenty
twenty one compared to quote twenty seventeen levels.
Speaker 1 (15:10):
Guess what happened. They didn't do that.
Speaker 2 (15:11):
They also claim they were going to enhance intellectual property protections.
Speaker 1 (15:14):
They didn't do it.
Speaker 2 (15:16):
They said they were going to eliminate force technology transfers,
they lied, they didn't do it. They said they were
going to reframe from competitive currency devaluation.
Speaker 1 (15:24):
They lied.
Speaker 2 (15:24):
They are currency they do currency manipulation all the time.
Speaker 1 (15:29):
They didn't do it.
Speaker 2 (15:29):
Now again, I go back to their lies with the
Obama Biden regime and the Biden Harrish regime. They said
they were going to improve access for US financial services firms.
All of that was a lie. None of it worked.
So you now look and you move forward from there. Right,
they were lying. They're taking advantage of us. They have
tars on our stuff. They don't like our stuff going
to their country. You move forward to twenty twenty five
(15:53):
May the twelfth and here's what we now know. There
was this trade tension. They took advantage of us. The
Presence said no more, and he said we're done. We're
gonna basically put imports to one hundred and forty five percent.
You now see where we are today on the twelfth,
and the US tarifs on Chinese imports are gone from
(16:14):
one hundred and forty five percent to down to thirty percent.
Chinese tariffs on US goods have been reduced from one
hundred and twenty five percent to ten percent, and the
reductions are set for ninety day periods, during which they
say further negotiations will continue. Global stock markets what do
they do? They didn't listen to the media or the
left or the Democrats. They surge with significant gains and
(16:37):
major indexes. The US dollar also strengthened, and commodity price
including crude oil, rows significantly.
Speaker 1 (16:46):
While the agreement is seen as.
Speaker 2 (16:47):
A quote positive step, experts quote caution it may be
temporary fixed without addressing underlying issues.
Speaker 1 (16:55):
That's the economic times. Again.
Speaker 2 (16:57):
You cannot trust the media and how they're doing. So
what is the takeaway from this? The takeaway is pretty simple.
US China trade the relations are seeing a significant development
in favor of the US. China needs America more than
we need China, is what they are now signaling. They
were going to have major economic problems in China. That's
(17:19):
the reason why they decide to come forward and do
this deal now. And look, if you listen to what
those around the president said about this deal, President Trump
outlining a vision they said for rebranding and rebalancing global trade.
I want you to hear what Scott Bess said had
to say, Take a listen.
Speaker 6 (17:39):
This administration is running full speed to make sure that
what we saw during COVID never happens again. So it's
a combination of it can be terrorists, but again it
is the administration moving as quickly as possible to make
sure that we are self sufficient in the strategic industries.
Speaker 7 (18:01):
I think that's completely understandable from the United States side.
Speaker 1 (18:05):
And I want to miss the.
Speaker 7 (18:06):
Secretary whether the Chinese understood that. Did you get the
sense they do understand that that will be the road
forward for the United States.
Speaker 6 (18:15):
Well, I think they understand that, and I think they
understand that we are focused on fair trade, that this
gigantic deficit that we have with them, that it didn't
happen last year. It didn't happen there before. It's happened
over decades, and that this happened half excuse me has.
Speaker 1 (18:36):
To be remedied.
Speaker 6 (18:38):
The China shock gutted our manufacturing sector, and we want
to bring that back. On the other side, Party Chair,
she has said that he would like to increase consumption,
but to date the Chinese had just increased manufacturing. So
we would like to see them increase consumption. We would
(18:59):
like to see open their market to American products. So
there are two ways to rebalance. One is fewer Chinese
goods in the US market. The other is more American
goods in the Chinese market. And my guess is that
the answer is somewhere in between.
Speaker 2 (19:19):
So you listen to what the President outlined a vision
for a rebalance, and we're getting it this ninety days
to move forward with lowering these tariffs on each country
and China moving several steps closer to achieving a major
renegotiation deal. Everyone said this was impossible, and it's happening.
(19:42):
I mentioned earlier that China ignored and broke virtually everything
from twenty twenty to twenty twenty four that we had
had in agreements before them. Currency manipulation laugh in our
face is a great example of that. Second Trader Secretary
Bassett also said this about China and why they were
able to get away with ignoring the trade agreement that
(20:03):
was set up by Trump in twenty sixteen through twenty twenty,
that Joe Biden inherited that they just they didn't care
because they knew Joe Biden was weak.
Speaker 1 (20:11):
They owned him.
Speaker 2 (20:12):
This goes back to the corruption with the Biden crime family.
China was paying off the President's family clearly, and the
ten percent for the big guy.
Speaker 1 (20:23):
They knew they didn't have to play by the rules.
Speaker 6 (20:26):
What has to happen is it has to be fair
for the American people. But in January twenty twenty, President
Trump produced a template.
Speaker 1 (20:35):
We had an excellent.
Speaker 6 (20:37):
Trade agreement with China, and the Biden administration chose.
Speaker 1 (20:43):
Not to enforce it.
Speaker 6 (20:45):
The Chinese delegation basically told us that once President Biden
came into office, they just ignored their obligations. So we
all already have a large framework. The other thing to
remember here, Jonathan, is this is a pause down to
ten percent. The April second level for China is thirty
(21:08):
four percent, so we will be working to see where
their final reciprocal number ends up. And the negotiations are
a combination of tariffs, non tariff, trade barriers, currency manipulation,
and subsidies of labor and capital.
Speaker 2 (21:29):
So this is all part of the Grand Plan. Trump
has a China trade deal. They said it couldn't happen.
Trump is lowering prescription drug prices. That's another thing that
he did as well. So let's move to that because
that's another big part of this story right now that
you need to understand. The President coming out making it
very cleared that it's time for us to fight big pharma,
(21:53):
as he put it, fight them and make sure that
America is no longer taking advantage of. Same with what
we just talked about with China, but now this applies
to us and to what we're dealing with with prescription
drug prices that are clearly out of control. Take a
(22:13):
listen to President talking about this at the White House.
Are saying we are no longer going to be taken
advantage of, and the rest of the world is going
to have to pay their fair share, and we're not
going to subsidize these companies.
Speaker 4 (22:25):
But starting today, the United States will no longer subsidize
the healthcare of foreign countries, which is what we were doing.
We were subsidizing others healthcare countries where they paid a
small fraction of what for the same drug.
Speaker 5 (22:40):
That what we pay many, many times and more for.
Speaker 4 (22:43):
And we're no longer tolerate profiteering and price gouging from
big pharma. But again, it was really the countries that
forced big pharma to do things that frankly, I'm not
sure they really felt comfortable doing. But they've gotten away
with it these countries. European Union has been brutal, and
(23:03):
the drug companies actually told me, sir is, it was
just brutal how they forced them, and European Union suing
all our companies, Apple, Google, Meta, they're suing all of
our companies. They end up they have judges that are
European Union centric and they get rewarded fifteen billion, seventeen billion,
(23:28):
twenty billion, and they use that to run their operation.
Speaker 2 (23:34):
Not going to happen any longer that I can tell you,
not going to happen any longer that I can tell you.
And so is this going to be a slash and
the prices for you? The American people, Yes, how do
we know it? Here's the president on that.
Speaker 4 (23:49):
So for the first time in many years, we'll slash
the costs of prescription drugs and we will bring fairness
to America.
Speaker 5 (23:55):
Drug prices will come down by much more. Really, if
you think fifty nine, if you think of a.
Speaker 4 (24:02):
Drug that is sometimes ten times more expensive, it's much
more than the fifty nine percent. You know, it depends
on the way you want to analyze it. But in
one way, you could analyze it that way, but between
fifty nine and eighty and I guess even ninety percent.
So when I worked so hard in the first term,
and if I got prices down, I remember I was
(24:24):
the only one to ever get prices.
Speaker 5 (24:25):
Down for a full year.
Speaker 4 (24:27):
But I get them down like two percent, and I
thought it was like a big deal. Well we're getting
them down sixty seventy eighty ninety percent, But actually more
than that if you think about it in the way mathematically,
and Farmer has to say, we're sorry, but we'll not
be able to do this any longer. To these to
(24:47):
these countries that have been so tough, they've been very tough, nasty.
Speaker 5 (24:52):
It's trade.
Speaker 4 (24:53):
It's trade, and Farmer is also very powerful, and the
Democrats have protected farmer.
Speaker 2 (25:00):
And look, the President wasn't done there, as he explained
to the American.
Speaker 1 (25:04):
People, and this is good for everyone. This is not
a political statement the president's making.
Speaker 2 (25:09):
He's talking about how much more we are paying then
other countries are paying for the same drugs made in
the same pharmaceutical labs. The same damn pill in the
same place comes off the line, and it goes to
one country and they pay ten cents on the dollar
compared to the US.
Speaker 1 (25:25):
It's wrong.
Speaker 4 (25:26):
So today Americans spend seventy percent more for prescription drugs
than we spent in the year two thousand.
Speaker 5 (25:33):
Think of that our.
Speaker 4 (25:35):
Country has the highest drug prices anywhere in the world
by sometimes a factor of five, six seven, eight times.
It's not like this slightly higher that six seven, eight times.
There are even cases of ten times higher, so that
you go ten times more expensive for the same drug.
Speaker 5 (25:52):
That's big numbers.
Speaker 4 (25:54):
Even though the United States is home to only four
percent of the world's population, pharmacutical companies make more than
two thirds of their profits in America. So think of that,
with four percent of the population, the pharmaceutical companies make
most of their money, most of their profits from America.
Speaker 5 (26:12):
That's not a good thing. Now.
Speaker 4 (26:15):
I think, by the way pharmaceutical I have great respect
for these companies and for.
Speaker 5 (26:19):
The people that run them. I really do, and I
think they did.
Speaker 4 (26:22):
One of the greatest jobs in history for their company
convincing people for many years that this was a fair system.
Never nobody really understood why, but I figured it out.
For years, pharmaceutical and drug companies have said that research
and development costs were what they are for no reason whatsoever.
Speaker 5 (26:45):
They had to be borne by America alone. Not anymore.
Speaker 2 (26:50):
They don't, not anymore, they don't the present saying we're
going to most favored nation prescription drug pricing. This is
where it's going to affect you in your bottom line
when you go shopping for drugs that you need.
Speaker 1 (27:06):
And here is how that's going to work.
Speaker 4 (27:08):
But it's called most favored nation. We are going to
pay the lowest price there is in the world. We
will get whoever is paying the lowest price, that's the
price that we're going to get.
Speaker 5 (27:19):
So remember that.
Speaker 4 (27:20):
So we're no longer paying ten times more than another country.
Whoever is paying the lowest price, we will look at
that price and we will say that's the price we're
going to pay most favored nations. That's what it is.
One breast cancer drug costs Americans over sixteen thousand dollars
(27:41):
per bottle, but the same drug from the same factory,
manufactured by the same company is one sixth that price
in Australia and one tenth that price in Sweden, one tenth.
Speaker 5 (27:57):
For the identical product.
Speaker 4 (28:01):
A common asthma drug costs almost five hundred dollars here
in America, but costs less than forty dollars in the
United Kingdom. So forty dollars in the United Kingdom, which
is where this gentleman told me he paid a small
amount for his shot. But think of that, So forty
dollars versus five hundred dollars here.
Speaker 2 (28:26):
Forty dollars compared to four or five hundred dollars here.
You have a president that is saying it very clearly.
This should have been done a long time ago. We
should have made it competitive market. That's what the American
people should have expected here. And one of the biggest
problems is when it comes to this is we have
(28:47):
so many people that are filing bankruptcy, so many Americans
that are that are filing bankruptcy because of these incredibly
high prices. This is a historic day for the president.
It's a story day, by the way, for the American people.
It's something that we should all be so excited about
because we finally have a president that is saying no
(29:10):
more to bankruptcy because of people that are having to
mortgage their homes and second mortgage and third mortgage to
pay for life saving pills that other countries are paying pennies.
Speaker 1 (29:18):
On the dollar for.
Speaker 2 (29:19):
It's exactly, by the way, what the NIH director had to.
Speaker 8 (29:22):
Say, I firmly believe in research and development for drugs.
I mean, it's part of the NIX mission to look
for fundamental biological advances that develop in better treatments. But
why should it only be American taxpayers that pay for that.
What President Trump is doing is saying enough, let's have
a broader base of support for this research mission. It's
(29:44):
actually pro in some ways pro pharmas because it's going
to expand the set of of sort of stakeholders to
include Europeans as well for the support of R and D,
while at the same time protecting American taxpayers from having
to pay such high prices for drugs. I mean, we
have patients going bankrupt over high health bills.
Speaker 2 (30:04):
We have a going bankrupt, and the present's trying to
stop that. Don't forget we do this show every day,
so make sure you hit that subscribe or auto download
button so you don't miss any of the interviews we do,
especially with members of the administration. And I'll see you
back here tomorrow morning.
Host
Ben Ferguson
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