May 9, 2025 • 36 mins
Hour 1 of the Clay Travis and Buck Sexton Show kicks off with a lively discussion on current events in Trump's America, including the election of Pope Leo the 14th, a Chicago White Sox fan, and his potential impact on the Catholic Church. The hosts delve into various topics, such as the transgender sports issue highlighted by Charles Barkley, and the appointment of Judge Jeanine Pirro as interim US Attorney for DC, emphasizing her role in combating the deep state.
The show features a robust lineup of guests, including Kelly Loeffler from the Small Business Administration, David Rutherford, a former Navy SEAL, and Steve Hilton, who is running for governor in California. The conversation touches on the weaponization of the DOJ, with Ed Martin taking a senior role, and the FBI investigation into New York Attorney General Letitia James for alleged mortgage fraud.
The hosts discuss the economic outlook, focusing on small businesses and the impact of Trump's tariffs and trade deals. SBA Administrator Kelly Loeffler provides insights into the optimism among small businesses and the importance of tax certainty for economic growth.
The hour concludes with discussions on the potential implications of trade deals with the UK and China, the importance of onshoring manufacturing, and the role of small businesses in driving the economy. The hosts also touch on the upcoming Tennessee Titans stadium and its impact on Nashville's economy.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome everybody. Friday edition of The Clay Travis en Buck
Sexton Show kicks off right now. A beautiful Friday in
Trump's America. Things going very well, a solid week in
Trump well, a solid week for Catholics around the world
who have a new Pope, Leo the fourteen. Some people
are saying the best of all the Leo's or among
(00:22):
the very best Leos.
Speaker 2 (00:24):
Chicago White Sox fan. Buck. Remember I was asking yesterday
like he is evidently a diehard Chicago White Sox fan.
There's all these articles now about that. So I love
the new Pope.
Speaker 1 (00:36):
Yes, the new post guy, maybe the first pope ever,
A big fan of deep Dish pizza. And we are
excited for what this means for the flock and for
the throne of Saint Peter and all of the great
stuff that is hopefully going to come from his leadership
for the church, for the billion plus Catholics around the world.
(00:57):
So we've got a lot to dive into today, and
it's a Friday, so we want to do a lot
of calls, a lot of talkbacks from all of you.
You know how to do those talkbacks. The iHeart app,
which all of you should have on your phone. It
is free. It is a fantastic app. You can listen
to the show, you can listen on demand to our
podcast network, and you can use a little microphone on
the Clay and Buck page for talkback purposes. So send
(01:18):
those to us. Some really interesting stories to dive into.
Clay is bringing me up to speed on some big
stuff in the sports world. He'll bring that to you
later on with the transgender sports issue. And Charles Barkley,
noted analyst and man who says what is on his mind,
has said something about the trans sports issue which will
(01:40):
get some of our attention in just a little bit. Also,
got to tell you about the guest lineup we have
because we are stacked small business administrations. Kelly Leffler, our
friend David Rutherford, former Navy seal, member of the Clay
and Buck podcast network. Talk to him about what's going
on with the Pentagon these days and other issues of note.
(02:01):
Also Steve Hilton third hour. He's running for governor in California.
We like Steve Hilton, very smart guy, got a cool accent,
so he's got that going for him, which is nice.
And we'll talk to him in just a little bit
about that, so a bunch of guests and a lot
of big stories to dive into. First up, we had
Ed Martin on the program yesterday. Very impressive guy. And
(02:25):
it's already been announced. Okay, he's not going to be
the US attorney for DC. He's going to have a
senior role at DOJ looking at weaponization of DJ. So
this is something that I think will be very important
to the administration and it's a good place for Ed
Martin to be. Judge Janine Piro has been named. So
(02:47):
I did make the reference on exclay. It is as
though the Libs got to choose the form of their destructor.
Speaker 2 (02:53):
It was a very good analogy. I saw you shared that,
Thank you, and it is very funny.
Speaker 1 (02:58):
They were hoping for something less terrifying than Ed Martin,
and we present you with Judge Janine, who I think
is going to make the deep State Libs quake in
their little tiny boots. So this is a good thing.
Speaker 2 (03:14):
Yeah. This is also where I think Trump excels is
when he doesn't get the person that he wants, he
usually finds somebody that is going to drive people even
crazier than the person that he initially wanted. And so
Judge Janine has been a prosecutor. She obviously is incredibly
(03:34):
skilled as it could to judge, and Judge has been
very successful in her time at Fox News. And I
don't know has there been a report about how long
she wants to do this job. I know she's leaving
Fox News. But the real reason here that the action
is taking place is if it wasn't decided by May twentieth,
(03:57):
then there would be some authority with Democrats having a
say in the who the chief law enforcement officer in
DC would be. So this is the timing behind it.
Speaker 1 (04:07):
Well, I think US attorneys can last one hundred and
twenty days as an interm us attorney, that's right. And
what I like is these interm us attorneys look at
Ed Martin. They're going in there with a mission and
they're going after it right away. So there's a lot
even if she only stayed for four months, I think
there's a lot that could be done. And I wonder
what this is going to mean for those who, well
(04:30):
Tom Tillis wouldn't come on the show. The senator we asked,
we said, please explain to us why you think that
believing in the rights of j six defendants, makes you
not okay to be a US attorney. He would not
do that, So I don't know. I think I smell
I think I smell someone being a little chicken. But
he wouldn't come on the show, and we are going
(04:52):
to continue to follow that story. I also though, would
say on the legal front, big news with the FB.
Speaker 2 (05:00):
It's funny.
Speaker 1 (05:00):
Yesterday we have the Pope Leo the fourteenth biggest story
of the day, no question. We're waiting for the name
gets announced. But Clay, while that's going on, the news
breaks that Leticia James, the Attorney General of New York,
the second largest blue state in the country. She who
went after Trump with the full force of her office
in a clear politicized weaponization of her office and the
(05:24):
powers therein. She is now facing a full up blown
FBI investigation and she was confronted at a town hall
after that news broke. Here is the New York State
ag play one. My question is for James, will you
apologize to President Trump for wasting millions of dollars and
the state of New York for a witch trial?
Speaker 3 (05:46):
And how does it feel to know that you are
you will be imprisoned from.
Speaker 2 (05:50):
Mortgage for.
Speaker 4 (05:54):
Thank you for coming. We want to thank him for
I mean, we respect all opinions. Everybody knows those allegations
are baseless, they're discredited, and so we want to thank him.
Speaker 2 (06:11):
I love this guy, I love this guy Buck.
Speaker 1 (06:15):
But she says they're discredited.
Speaker 5 (06:17):
I know.
Speaker 1 (06:17):
This is what they always say when they're caught, right,
this is what the Democrats always go to. Who says
they're discredited. I would I haven't seen even ABC and
New York Times, the usual suspects. I haven't seen anyone
say this is all a fabrication, and that means that
there are documents that indicate there's a problem here. I
think her best defense actually her best public defense and
(06:38):
her legal defense.
Speaker 2 (06:39):
And we talked a lot about this during Trump. Sometimes
those are the same, sometimes they're different. Her best public
defense is, oh, this is just them coming after me
because I went after Trump. Okay, that's a public defense,
it's not a legal defense. Her best legal defense, based
on the research I have done, is there may be
multiple forms that she has filled out. Some of them
(06:59):
she others of them she did not lie on, and
therefore she may be able to argue. Again, this is
me putting on my criminal defense attorney hat she may
be able to argue that this was not a crime
because there's evidence that she did not lie in other documents. Now,
(07:19):
that's not a good defense. Not a good defense. I'm
just saying, if I were her criminal defense attorney, there's
sometimes a difference between public defense and actual legal defense.
Public defense of Trump hates me, and this is why
I'm being looked at, is not actually a legal defense.
The document defense that I trotted out potentially could be one.
Speaker 1 (07:39):
Okay, So on that document defense, though, did she get
the rate that you would get if you was your
primary residence because of the question two? You know, then
it's really hard to say, well, there's one document that
I did the right way.
Speaker 2 (07:53):
One I did the wrong way.
Speaker 1 (07:54):
Okay, but you got the benefit for the wrong way
and should have known that. You should have been aware
of that. I think one of the way you wouldn't know. Clay.
You sit down, have you when was the last time
you did you did a mortgage for a house. It's
been a long time. We moved in here ten years ago, right, okay,
So remember you sit there. There's you gotta have the uh, well,
what do you call the people that have to check
the signatures. You know, the notaries. Notary, thank you. You
(08:17):
got to sit there with a notary. You got to
show your ID, you got to sign every page. You
got to sign the page that says you signed the page.
You got to sign the page it says you read
the signature over and over again.
Speaker 2 (08:26):
She's a lawyer.
Speaker 1 (08:27):
So the I messed up on the documents and the
outcome was the one that was favorable to me. I
think that's that's the key.
Speaker 2 (08:34):
I think a lot of people who sit on a
jury might be willing to believe that you screwed up
on a document when you're going through and filling them out.
But it's awfully convenient that each time that you screwed
up on the document, it benefited you, And I think
a lot of people sit back. If I were the prosecutor,
I would sit down. I would say, Letitia James, you
are a lawyer. You understand the significance of filling out
(08:57):
forms under the color of law. Isn't it convenient that
you managed to incorrectly fill out the forms multiple times
for multiple different mortgages in ways that personally benefited you.
You didn't screw up in a way that hurt you.
Speaker 1 (09:11):
Well, yes, or that was irrelevant, right, This is yeah,
this is also true in any perjury. This is effectively
a perjury situation, and in any case where there's perjure,
where there's alleged perjury, right, it's is it material?
Speaker 2 (09:26):
Is it material to?
Speaker 5 (09:27):
You know?
Speaker 1 (09:27):
People will say, well, what if I say that I
had cheerios yesterday, but I actually had, you know, fruit
loops or something that they don't usually do perjury if
it's immaterial to what they're asking about, right, if it's
if it could be now that's up the discretion of
the prosecutor. But the way it's supposed to go, it's
not so minor that it's irrelevant.
Speaker 2 (09:45):
Right.
Speaker 1 (09:45):
A spelling error on a mortgage document can't get you
locked up. If she got better rates, then that's something
that you know. Then that again throws the document judgment
into or document error into I think a harder position.
But to your point about how she's gonna run this
if they do bring a charge, which we'll see, I'm
not sure they have the uh the uh courage toutspah. Yes, yeah, yes,
(10:12):
I'm not sure they have the courage to do so.
But if they were to do so I think she's
just going to her defense will just be this is
all just Trump payback. It won't even really matter that much.
And hope that she can get people on the jury
who will say, now, will she take it to a jury,
will she get a plead deal, will she even be charged?
Those are all outstanding questions. But her waving her hand
(10:35):
and saying these are discredited allegations, No, I don't think so.
I haven't seen anything that discredits them. She to your point, Clay,
she may have a defense, that's not the same thing
as this is a fabrication, which is what a discredited
allegation would be.
Speaker 2 (10:49):
No doubt. And I do love I don't want to
underserver or under praise that guy. I love the reaction
to him, whoever that guy is. And it wouldn't shock
me if he's listening right now, to go into the
lions in there and ask that question and have everybody
just react in anger and derision. Was so great. The
(11:12):
audio is phenomenal. I'm sure the video is also fantastic.
So why was he credit out?
Speaker 1 (11:18):
Why does security escort you? He just asked a question,
was why is she allowed to be escorted out? On
what basis, he's not disturbing the piece, he's not causing
an undue, rushing good question. He asked a completely valid question,
and I believe security, meaning the police had him removed.
Speaker 2 (11:36):
Yeah, maybe they would argue it was for his own security.
I don't know. I don't know what the crowd looked like.
I don't know what the crowd's reaction to him was.
Were they closing in on him? But that in and
of itself is a very good question. I actually think again,
the discredited answer is a good one. I didn't think
Letitia James handled it poorly in terms of the way
that that plays out. Like she gets to make her
(11:58):
argument that it's not true, and she says he has
a right to make that argument even if we know
it's not true.
Speaker 1 (12:04):
Police escorted him out. I don't understand why police should
be escorting a man out who asks a valid question
out of town hall. He wasn't refusing to comply or
let her speak anyway.
Speaker 2 (12:16):
It is a good question. My bet would be that
they would argue that he was in peril. But if
he didn't want to leave, then he shouldn't be forced
to leave. There's nothing wrong with the question that he
asked what he's gonna be.
Speaker 1 (12:28):
He's gonna be mobbed by a bunch of blue haired communists.
Speaker 2 (12:31):
Who I don't know what rond was. I mean, first
of all, who shows up at a Was this a
public forum with the New York Attorney General? Can you
think of a more boring way to spend the night?
I mean, in all seriousness, I understand they have these
town halls and everything else, but the I don't even
know why the attorney general. I guess she's democratically elected,
(12:52):
so maybe she feels compelled to do these town halls.
But it actually, to me makes it look like you
are engaged, as she is, in direct response to the public,
which is why a lot of Attorney generals are not
elected to statewide office, because they're supposed to be above
the fray.
Speaker 1 (13:11):
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don't play around with your protection. I'm just a few
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(13:36):
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(13:57):
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(14:19):
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Speaker 3 (14:39):
Making America great again isn't just one man, It's many.
The Team forty seven podcast Sunday's at noon Eastern in
the Clay and Buck podcast feed. Find it on the
iHeartRadio app or wherever you get your podcasts.
Speaker 2 (14:53):
Welcome back in Play Travis Buck Sexton Show Buck. I
don't know if you you have seen all this talk,
but I know we talked about the Jake Tapper Alex
Thompson book that is coming out. Scott Jennings said on
CNN the other day, I don't think maybe we can
grab this audio that Democrats are ready to reap the
(15:15):
whirlwind of what's going to come from this book. It
makes me think that a lot of people have already
read it. It hasn't been released yet, but you know
how this works when you're writing a book. You know,
people blurb it, they get to look at it early.
And maybe we need to get Scott Jennings on again
(15:35):
to talk about this on some level. And of course
Scott is CNN's resident non moron on their evening telecasts
who defends sanity. How much do you think if at all.
Biden going around now and trying to do the view
is in some ways a pre buddle to what they
(15:59):
know is coming. There's also talk, and I hadn't really
thought about this, that the Trump team could be prepared
to release the Robert her audio. Remember they gave us
a transcript. I think that's a no brainer. Do you
agree to go ahead and release the audio? The audio
should have been out before, but that seems like it
must be a calamity for Biden that they never released
(16:21):
it in the first place.
Speaker 1 (16:22):
Yeah, whatever they can to show the scale of the
cover up, because these same individuals who sold their integrity
and their souls to cover up for dementia. Riddle, Biden
now want to tell you about, you know, the Trump
stock market and what's going to happen with the border
and the same people they want you to have faith
in them, the so called journalists, and they were almost
(16:45):
to a person complicit in this, right. You know, they'll
they'll they'll point out one guy and by the way,
I'm not impressed. This is why I don't know, should
we even have the people on that wrote the book,
you know, one of them's anyway, I'm not gonna get
into it. I'm not impressed with Oh, but I I asked,
like a couple of questions about questions. You and I
are making jokes about carrying around a dead body pretending
(17:06):
it's alive, and weekend at Bernie's, and they're asking questions.
Speaker 2 (17:10):
I mean, this is absurd. I also think, because we
do get this question, why does this matter? Biden's not
president anymore. I think it matters because it devalues and
delegitimizes the legacy media that might try to attack Trump.
Speaker 1 (17:21):
Well, that's what I mean that this is why we
should everything should come out, the scale, the scope of
the cover up and the lies. They were all complicit
in this. These are the people who will How dare
you have questions about the election? You're an insurrectionist all.
I wonder what the I wonder what the crossover is
clay of people who use the term the insurrection about
(17:43):
January sixth and also covered up Biden having dementia, the
commander in chief, the guy with the nuclear codes.
Speaker 2 (17:50):
It's an overlapping Vinn diagram. It's one circle. But I
do think that's the important part here, is it delegitimizes
them massively. It's why we have to continue to cover
this story because any of their attacks on Trump are devalued.
As a result. NonStop action this week in both the
NBA and the NHL. Everybody excited, especially Knicks fans like
(18:12):
Buck Sexton. They don't even know how to react to
having a two to zero series lead. Tomorrow have a
chance to go up three to zero. NHL playoffs underway.
My Atlanta Braves making the way back. Nice win last
night over Cincinnati Reds towards five hundred. If you want
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(18:34):
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Get hooked up now, pricepicks dot Com, code Clay. Kelly
Lefler been all traveling all over the country as part
(18:57):
of Small Business Week, and Kelly I just want to
kind of hee you up here right off the top,
how do you see based on your travels and the
data that you have access to, small business is clearly
the engine that drives, by and large, the American economy
is not huge businesses. Actually, it's all the dynamics small
businesses out there that are so incredibly important. What are
(19:19):
you seeing on your travels and how would you assess
the overall economic status of the country right now?
Speaker 5 (19:25):
Well, you're absolutely right. Small businesses are not only the backbone,
but there's the economic engine of this great nation. It's
ninety nine percent of all businesses across this country. So
it's incredibly humbling to be the cabinet level person advocating
within the Trump administration for small business. And there is
no stronger champion for small business and President Trump he
(19:46):
always says, Kelly, small business is big business. And I've
seen that as I traveled across the country. I was
everywhere from Boise, Idaho, to Phoenix, Arizona, to Nashville this week.
But every week I'm out with small business and there's
tremendous optimism thanks to President Trump's pro business, pro growth
agenda to lower taxes, get rid of regulation, get red
(20:07):
tape out of the way, and obviously what we do
is we provide capital, which is a lifeblood of businesses.
Speaker 1 (20:14):
Kelly, thanks for being here with us. There's some that
I know in the small business community who are all
supportive when it comes to the Trump tariffs, what he's
trying to accomplish, and they think it will benefit them
long term. But I have heard concerns about short term
supply shock, you know, that could hit in the next
few months, for example, because of particularly what's going on
(20:36):
with China, right that's where there's some issue. Are you
seeing any reason for concern when it comes to supply
shock that could affect a lot of businesses that rely
on some of those imports, And if so, what do
you think can be done to kind of mitigate that
so we can get to the other side where the
trade deals are in and things are booming.
Speaker 5 (20:55):
Yeah, it's an important question. Look, there's going to be
a period of adjustment and the President it's been very
clear about that. And as we talk with small businesses,
that concern is far outweighed by the opportunities that they
see to finally have fair trade. So when you hear
the word tariff, think fair trade, and restoring what we
used to have in this country, which was a reliable
(21:16):
supply chain that obviously got hollowed out. We lost seventy
thousand manufacturing plants, five million jobs. So at the SBA,
what we're trying to do is create a connection between
supply chains, manufacturers to onshore. We're going to be providing
those connections to small businesses so that they can have
alternatives to where they're importing from China. If they've built
(21:39):
their businesses around Chinese Communist Party manufacturing, we have to
make sure we bring that back. But it's already being
done in America, everything from aerospace to Saks to microchips
and beyond. Like we're already doing this. The left wing
media narrative is that we can't and we should not
(22:00):
do this, But I'm telling you it's happening, and all
it relies on is, you know, continuing to push those
tax cuts through, get rid of regulation, and make sure
we have a skilled work for us, and we're going
to be stronger than ever before.
Speaker 2 (22:14):
Kelly, when you look at this bill that is obviously
working its way through Congress right now, the big so
called big, beautiful bill that we expect to see come
through sometime around Memorial Day. How important do you believe
it is based on the conversations that you're having to
have some form of tax certainty given that the tax
cuts that Trump initially put into place in twenty seventeen
(22:37):
are set to expire, how important is it for businesses
to know what to expect in that arena.
Speaker 5 (22:45):
I think it's incredibly important, Clay, because I think this
economy is spring loaded for tax cuts, and you know,
I think it's something that's frustrating to me, as someone
who's spent decades in finance, is when the Fed only
looks at tariffs as an issue. We've got so much
counter inflationary good news coming into this economy. Not only
(23:07):
is inflation falling, but taxes are going to go down.
Regulation is going to go down if we give small
businesses the certainty that they will continue to have the
twenty percent deduction, bonus depreciation accelerated depreciation back to January twentieth.
I've talked to many manufacturers who are waiting to put
in the order for more CNC machines to buy more
(23:28):
land to grow and build because they're already getting the orders.
Thanks to President Trump's tariff strategy to bring people to
the table and bring manufacturing here. People are saying we
want to reshore. So it's ready to go. We need
Congress to act.
Speaker 2 (23:42):
What's your go ahead? Yeah, I was just going to say,
sorry the building on that question. I can't believe the
number of countries out there that are cutting interest rates
like crazy, in particular all over Europe. I don't know
that we've ever seen a divide like this. Is there
any doubt in your mind based on what you are
seeing that the Fed should be cutting interest rates?
Speaker 5 (24:04):
There's no doubt in my mind. We have four year
inflationary core inflationary lows. It's much lower when they did
double cuts last fall, right ahead of the election, And
when you have these counter inflationary trends of lower taxes,
less regulation, falling energy prices unbelievably low. We had a
(24:25):
five handle on the oil price the other day. The
tenure is already kind of self regulating itself down. So
I feel very confident that we should go into the
next rate cut looking at it. But who knows. I mean,
if this has become a political issue, anything could happen.
Speaker 1 (24:44):
If things go and We're speaking to Kulli Leffler, who
runs a small business administration for anyone joining us. If
things go as the Trump team is hoping, and as
we've started to see some indicators, for example, the deal
with the UK, we're hearing about an India deal, We're
hearing about other des on the horizon. If these trade
deals go through, let's say in the next sixty days
(25:04):
or so, most of them. Right China is probably going
to be a longer issue. But what happens for businesses
for the rest of the year that is positive? Like,
how are the way because right now, I think, as
you've said, Trump has made it clear there might be
an adjustment period and if you're relying on supply chain
from China, there could be some issues with that. But
what is the upside of making this fair trade for
(25:27):
We have a lot of small business owners listening right now,
a lot of people who work for small businesses right now,
How does this get better for them if the Trump
policy and well if the Trump deals rather go through.
Speaker 5 (25:38):
Yeah, that's a great question. We just saw yesterday the
UK trade deal opened up our ag markets to the
tune of five billion dollars. It's going to bring in
about six billion and tariff revenue. But what it's also
going to do is remove some of the non tariff
barriers that were put into their regulatory apparatus that blocked
our ability to ship our products overseas. I talked to
(26:01):
one logistics company who said his business used to be
half import half export ten fifteen years ago. Today it's
ten percent export because of all the trade barriers against
our country that have made us more dependent on bringing
in goods. So small businesses that I'm seeing on the ground,
the manufacturers and particularly are gearing up to invest and
(26:23):
make things in America that we can then ship overseas,
keep for ourselves and not be reliant on anyone for food,
for pharmaceuticals, other critical areas of our trade. So I think, look,
small businesses are certainly just critical in this conversation, and
I am making sure that they have a seat at
the table because this is the again, it's really the
(26:46):
backbone of our country, and we have to make sure
that we're well aware of everything going on in The
President is on top of it, and that's why he's
pushing fair trade, lower taxes, less regulation, low energy price.
Is this all benefits small businesses.
Speaker 2 (27:02):
Kelly, I hear you were touring the Tennessee Titans football stadium.
Hopefully at some point in time they'll actually start winning
games when that new stadium opens up. But there is
a lot of optimism. Obviously you've been in Tennessee. Nashville
is growing very rapidly. I know you live in Georgia,
which has also got a pretty good economy. Rolling what
do you think of the stadium and in general, what
(27:23):
do you think that's going to mean for downtown Nashville
where for people who are around here, I think we're
going to get a Super Bowl, which is going to
be pretty cool in a few years for the city
of Nashville.
Speaker 5 (27:34):
I think it's a tremendous investment that is really powering
the economy. Even today, we saw a thousand workers on site,
driven by more than sixty five small businesses that are
helping build that stadium. And so in addition to the
entertainment value and the value it brings to small businesses
in terms of creating sustainable businesses around that stadium, it's
(27:57):
just going to create this venue that builds a really
strong community. And I was with your great governor, Governor Lee,
and just looking at You know, I think the state
bird is now the crane, the construction crane, given how
many cranes are in the air there. But it was
exciting to see and they're doing a fantastic job. There
was a great small business contractor that won the SBA
(28:20):
one of the contractor or the SBA awards, And you know,
he was just talking about the generational change that this
economic development is creating for all communities across Tennessee.
Speaker 1 (28:32):
What does it look like, Kelly, if we get to
a reasonable best case outcome, specifically with the trade tariff
issue with China, like what we know with our other allies,
because you've already seen some of they go, Okay, we
need to reassess this, you need to even some things out.
That's fine. China is a different balloax and a much
(28:53):
bigger challenge, I think than obviously our allies offer for
clear reasons. What does it look like if Trump gets
that where he wants it to be.
Speaker 5 (29:03):
Yeah, that's an important question in those conversations are starting tomorrow.
It sounds like, and what we need to make sure
is that America's interests are protected in this in ways
that they have not been in the past, whether it's
intellectual property. What happened is we would send our intellectual
property o receives, they'd manufacture it for us, and then
(29:25):
they'd put the trade barrier up, so they would have
stolen our intellectual property manufacturer there for their people, and
then we lose that market. So we're going to have
those protections. We're going to have larger markets if we
can have more cooperative reciprocal trade levels, and then we
won't have the non tariff trade barriers that they've set
up against us. They've put up kind of false environmental barriers,
(29:47):
health barriers, and other things that they don't hold themselves to,
but they can erect that against our manufacturers. And so
I think restoring our strength by having manufacturing here and
doing our energy dominance agenda, we start mining in America again,
getting the rarers minerals, and making sure that we protect
(30:08):
our economic security and our national security at the same time,
because we have seen with the Chips situation and others,
rarers were way too dependent on China in terms of
national security, and I've seen some great chips manufacturers small
businesses in America. This can be done, but we have
to really focus in on that as much as we're
(30:29):
focusing on what China is doing.
Speaker 1 (30:32):
Kelly Leffler, Administrator of the US Small Business Administration, Kelly,
thanks so much for being with us. Appreciate it.
Speaker 5 (30:40):
Thank you all. Great to be with you.
Speaker 1 (30:43):
I'm optimistic, well, we've been optimistic the whole time actually
about the economy.
Speaker 2 (30:47):
I think we have this summer, and again I don't
want to go full Jim Kramer here because he tends
to be wrong on everything, but I think by the summer,
as more and more of these trade deals are rolling out,
I think we will be back and near an all
time high in where stock prices are.
Speaker 1 (31:04):
You know, some of our adversaries get a vote as well.
And officials from the bricks nations are meeting in Brazil
this July to discuss the US dollar. I mean, these
are big countries with big economies, China, Russia, India, South Africa.
One of the topics at that meeting is whether they
can displace the US dollar as the global currency. They're
calling this a rio reset for a reason. If that
(31:24):
were to happen, there's an if in that statement, but
you got to be prepared for it. Then global demand
for US dollars would dramatically decrease, and that would bring
down the value of the dollars in your savings account.
This transition is not going to happen overnight, but it's
a good idea to prepare for the uncertainties in the future,
to hedge for what could happen with these bricks objectives.
(31:44):
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I thought it was smart for me.
Speaker 2 (31:49):
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Speaker 3 (32:25):
Out with the guys on the Sunday Hang with Clay
and Buck podcast.
Speaker 2 (32:29):
A new episode every Sunday.
Speaker 3 (32:31):
Find it on the iHeart app or wherever you get
your podcasts.
Speaker 2 (32:35):
Appreciate all of you hanging out with us. We are
rolling through the Friday edition of the program Hopeball. You're
gonna have fantastic weekends. I'm going to be up in
Chicago this weekend. Buck hometown of Pope. Oh God, I've
already forgotten his name. Fourteenth Leo, Leo Leo, the fourteenth
Pope from Chicago, Chicago White Sox fan. I'm gonna go
(32:57):
get some deep dish pizza. I've got my oldest son
going with me, which should be super fun. Going to
be speaking at the University of Chicago again. Last time
I went there that created some fireworks, so should be fun.
I'll be there Saturday morning. I think I tweeted out
the link if anybody's in the Chicago area, and we're
gonna go get some deep, deep dish pizza while we're there.
(33:17):
But I also am going to have a little bit
of a late night, a little bit of a late flight,
and so I'm going to be pounding Crockett Coffee this
afternoon to take me into the weekend. We have a
brand new mushroom coffee available, and if you go and
subscribe and use code Book, you get an autograph copy
of my most recent book, American Playbook, which Katie, who
(33:38):
has been working with me for a decade, is going
to be sending out to your homes. If you go
to Crocketcoffee dot com and subscribe use codebook Boom, you
can be on your way to having a good time
with that. Do we have? I've got a couple of
different clips that I wanted to hit when we come
into the top next hour. The Bernie Sanders talking about
(34:03):
wife Li's private and also, we didn't get to play
for you yesterday Joe Biden doing the view the full
clips that we had because news about the new pope broke,
but a lot of EP emails and whatnot. Rolling in
line says some of these callers so pessimistic. I believe
the majority of cardinals picked who the Holy Spirit nudged
(34:25):
them too. I'm ecstatic. Let's be hopeful and give the
man a chance, super fun time to live through. Please
listen to some positive callers. I'm Catholic, and I believe
the vast majority are thrilled. Everyone in my friends and
family is buck I'll tell you this my friends and family.
Everybody is just ecstatic that there is an American pope
(34:46):
because we had been told for so long it wasn't
going to ever happen because of the power that America
had on the global stage already, and so I thought
that the overall reaction would be very positive, and so
far it has. Did you find that to be the case?
After we got off the air, the news broke while
we were on the air, so we were in real
(35:06):
time scrambling because this guy kind of came out of nowhere.
No one anticipated that that was likely going to be
the pick. Yes, well, we have to see what this
pope does. And for believing Catholics within the church, there
is a hand of God in all things, certainly in
the picking of the next leader of his church. So yeah,
(35:30):
I think or of the Catholic Church. So I think
that there's plenty of reasons for tremendous optimism. And it's
a it's a.
Speaker 1 (35:37):
New era in the church, and we shall see how
it all goes. You know, we don't know anything until
we know something.
Speaker 2 (35:43):
I'd put it.
Speaker 1 (35:43):
I tell you that you know who else doesn't know anything?
As Bernie Sanders, He's going around on the on the
tour of oligarchy.
Speaker 2 (35:52):
We need to people who.
Speaker 1 (35:54):
Fall for this stuff. And you know, it's interesting even
some of the people that have switched over to the
right in recent years become trying voters used to be
Bernie people. And I always want to sit down with
him and say, he is such a charlatan. Really, when
you get down to it, how do you not see
what a phone? He's consistent, but that's not the same
thing as not being a phony. He's the biggest phony.
(36:17):
And we'll get into he's a socialist who owns three
houses and wants to lecture you about rich people. We'll
talk about that coming up.
Welcome everybody. Friday edition of The Clay Travis en Buck
Sexton Show kicks off right now. A beautiful Friday in
Trump's America. Things going very well, a solid week in
Trump well, a solid week for Catholics around the world
who have a new Pope, Leo the fourteen. Some people
are saying the best of all the Leo's or among
(00:22):
the very best Leos.
Speaker 2 (00:24):
Chicago White Sox fan. Buck. Remember I was asking yesterday
like he is evidently a diehard Chicago White Sox fan.
There's all these articles now about that. So I love
the new Pope.
Speaker 1 (00:36):
Yes, the new post guy, maybe the first pope ever,
A big fan of deep Dish pizza. And we are
excited for what this means for the flock and for
the throne of Saint Peter and all of the great
stuff that is hopefully going to come from his leadership
for the church, for the billion plus Catholics around the world.
(00:57):
So we've got a lot to dive into today, and
it's a Friday, so we want to do a lot
of calls, a lot of talkbacks from all of you.
You know how to do those talkbacks. The iHeart app,
which all of you should have on your phone. It
is free. It is a fantastic app. You can listen
to the show, you can listen on demand to our
podcast network, and you can use a little microphone on
the Clay and Buck page for talkback purposes. So send
(01:18):
those to us. Some really interesting stories to dive into.
Clay is bringing me up to speed on some big
stuff in the sports world. He'll bring that to you
later on with the transgender sports issue. And Charles Barkley,
noted analyst and man who says what is on his mind,
has said something about the trans sports issue which will
(01:40):
get some of our attention in just a little bit. Also,
got to tell you about the guest lineup we have
because we are stacked small business administrations. Kelly Leffler, our
friend David Rutherford, former Navy seal, member of the Clay
and Buck podcast network. Talk to him about what's going
on with the Pentagon these days and other issues of note.
(02:01):
Also Steve Hilton third hour. He's running for governor in California.
We like Steve Hilton, very smart guy, got a cool accent,
so he's got that going for him, which is nice.
And we'll talk to him in just a little bit
about that, so a bunch of guests and a lot
of big stories to dive into. First up, we had
Ed Martin on the program yesterday. Very impressive guy. And
(02:25):
it's already been announced. Okay, he's not going to be
the US attorney for DC. He's going to have a
senior role at DOJ looking at weaponization of DJ. So
this is something that I think will be very important
to the administration and it's a good place for Ed
Martin to be. Judge Janine Piro has been named. So
(02:47):
I did make the reference on exclay. It is as
though the Libs got to choose the form of their destructor.
Speaker 2 (02:53):
It was a very good analogy. I saw you shared that,
Thank you, and it is very funny.
Speaker 1 (02:58):
They were hoping for something less terrifying than Ed Martin,
and we present you with Judge Janine, who I think
is going to make the deep State Libs quake in
their little tiny boots. So this is a good thing.
Speaker 2 (03:14):
Yeah. This is also where I think Trump excels is
when he doesn't get the person that he wants, he
usually finds somebody that is going to drive people even
crazier than the person that he initially wanted. And so
Judge Janine has been a prosecutor. She obviously is incredibly
(03:34):
skilled as it could to judge, and Judge has been
very successful in her time at Fox News. And I
don't know has there been a report about how long
she wants to do this job. I know she's leaving
Fox News. But the real reason here that the action
is taking place is if it wasn't decided by May twentieth,
(03:57):
then there would be some authority with Democrats having a
say in the who the chief law enforcement officer in
DC would be. So this is the timing behind it.
Speaker 1 (04:07):
Well, I think US attorneys can last one hundred and
twenty days as an interm us attorney, that's right. And
what I like is these interm us attorneys look at
Ed Martin. They're going in there with a mission and
they're going after it right away. So there's a lot
even if she only stayed for four months, I think
there's a lot that could be done. And I wonder
what this is going to mean for those who, well
(04:30):
Tom Tillis wouldn't come on the show. The senator we asked,
we said, please explain to us why you think that
believing in the rights of j six defendants, makes you
not okay to be a US attorney. He would not
do that, So I don't know. I think I smell
I think I smell someone being a little chicken. But
he wouldn't come on the show, and we are going
(04:52):
to continue to follow that story. I also though, would
say on the legal front, big news with the FB.
Speaker 2 (05:00):
It's funny.
Speaker 1 (05:00):
Yesterday we have the Pope Leo the fourteenth biggest story
of the day, no question. We're waiting for the name
gets announced. But Clay, while that's going on, the news
breaks that Leticia James, the Attorney General of New York,
the second largest blue state in the country. She who
went after Trump with the full force of her office
in a clear politicized weaponization of her office and the
(05:24):
powers therein. She is now facing a full up blown
FBI investigation and she was confronted at a town hall
after that news broke. Here is the New York State
ag play one. My question is for James, will you
apologize to President Trump for wasting millions of dollars and
the state of New York for a witch trial?
Speaker 3 (05:46):
And how does it feel to know that you are
you will be imprisoned from.
Speaker 2 (05:50):
Mortgage for.
Speaker 4 (05:54):
Thank you for coming. We want to thank him for
I mean, we respect all opinions. Everybody knows those allegations
are baseless, they're discredited, and so we want to thank him.
Speaker 2 (06:11):
I love this guy, I love this guy Buck.
Speaker 1 (06:15):
But she says they're discredited.
Speaker 5 (06:17):
I know.
Speaker 1 (06:17):
This is what they always say when they're caught, right,
this is what the Democrats always go to. Who says
they're discredited. I would I haven't seen even ABC and
New York Times, the usual suspects. I haven't seen anyone
say this is all a fabrication, and that means that
there are documents that indicate there's a problem here. I
think her best defense actually her best public defense and
(06:38):
her legal defense.
Speaker 2 (06:39):
And we talked a lot about this during Trump. Sometimes
those are the same, sometimes they're different. Her best public
defense is, oh, this is just them coming after me
because I went after Trump. Okay, that's a public defense,
it's not a legal defense. Her best legal defense, based
on the research I have done, is there may be
multiple forms that she has filled out. Some of them
(06:59):
she others of them she did not lie on, and
therefore she may be able to argue. Again, this is
me putting on my criminal defense attorney hat she may
be able to argue that this was not a crime
because there's evidence that she did not lie in other documents. Now,
(07:19):
that's not a good defense. Not a good defense. I'm
just saying, if I were her criminal defense attorney, there's
sometimes a difference between public defense and actual legal defense.
Public defense of Trump hates me, and this is why
I'm being looked at, is not actually a legal defense.
The document defense that I trotted out potentially could be one.
Speaker 1 (07:39):
Okay, So on that document defense, though, did she get
the rate that you would get if you was your
primary residence because of the question two? You know, then
it's really hard to say, well, there's one document that
I did the right way.
Speaker 2 (07:53):
One I did the wrong way.
Speaker 1 (07:54):
Okay, but you got the benefit for the wrong way
and should have known that. You should have been aware
of that. I think one of the way you wouldn't know. Clay.
You sit down, have you when was the last time
you did you did a mortgage for a house. It's
been a long time. We moved in here ten years ago, right, okay,
So remember you sit there. There's you gotta have the uh, well,
what do you call the people that have to check
the signatures. You know, the notaries. Notary, thank you. You
(08:17):
got to sit there with a notary. You got to
show your ID, you got to sign every page. You
got to sign the page that says you signed the page.
You got to sign the page it says you read
the signature over and over again.
Speaker 2 (08:26):
She's a lawyer.
Speaker 1 (08:27):
So the I messed up on the documents and the
outcome was the one that was favorable to me. I
think that's that's the key.
Speaker 2 (08:34):
I think a lot of people who sit on a
jury might be willing to believe that you screwed up
on a document when you're going through and filling them out.
But it's awfully convenient that each time that you screwed
up on the document, it benefited you, And I think
a lot of people sit back. If I were the prosecutor,
I would sit down. I would say, Letitia James, you
are a lawyer. You understand the significance of filling out
(08:57):
forms under the color of law. Isn't it convenient that
you managed to incorrectly fill out the forms multiple times
for multiple different mortgages in ways that personally benefited you.
You didn't screw up in a way that hurt you.
Speaker 1 (09:11):
Well, yes, or that was irrelevant, right, This is yeah,
this is also true in any perjury. This is effectively
a perjury situation, and in any case where there's perjure,
where there's alleged perjury, right, it's is it material?
Speaker 2 (09:26):
Is it material to?
Speaker 5 (09:27):
You know?
Speaker 1 (09:27):
People will say, well, what if I say that I
had cheerios yesterday, but I actually had, you know, fruit
loops or something that they don't usually do perjury if
it's immaterial to what they're asking about, right, if it's
if it could be now that's up the discretion of
the prosecutor. But the way it's supposed to go, it's
not so minor that it's irrelevant.
Speaker 2 (09:45):
Right.
Speaker 1 (09:45):
A spelling error on a mortgage document can't get you
locked up. If she got better rates, then that's something
that you know. Then that again throws the document judgment
into or document error into I think a harder position.
But to your point about how she's gonna run this
if they do bring a charge, which we'll see, I'm
not sure they have the uh the uh courage toutspah. Yes, yeah, yes,
(10:12):
I'm not sure they have the courage to do so.
But if they were to do so I think she's
just going to her defense will just be this is
all just Trump payback. It won't even really matter that much.
And hope that she can get people on the jury
who will say, now, will she take it to a jury,
will she get a plead deal, will she even be charged?
Those are all outstanding questions. But her waving her hand
(10:35):
and saying these are discredited allegations, No, I don't think so.
I haven't seen anything that discredits them. She to your point, Clay,
she may have a defense, that's not the same thing
as this is a fabrication, which is what a discredited
allegation would be.
Speaker 2 (10:49):
No doubt. And I do love I don't want to
underserver or under praise that guy. I love the reaction
to him, whoever that guy is. And it wouldn't shock
me if he's listening right now, to go into the
lions in there and ask that question and have everybody
just react in anger and derision. Was so great. The
(11:12):
audio is phenomenal. I'm sure the video is also fantastic.
So why was he credit out?
Speaker 1 (11:18):
Why does security escort you? He just asked a question,
was why is she allowed to be escorted out? On
what basis, he's not disturbing the piece, he's not causing
an undue, rushing good question. He asked a completely valid question,
and I believe security, meaning the police had him removed.
Speaker 2 (11:36):
Yeah, maybe they would argue it was for his own security.
I don't know. I don't know what the crowd looked like.
I don't know what the crowd's reaction to him was.
Were they closing in on him? But that in and
of itself is a very good question. I actually think again,
the discredited answer is a good one. I didn't think
Letitia James handled it poorly in terms of the way
that that plays out. Like she gets to make her
(11:58):
argument that it's not true, and she says he has
a right to make that argument even if we know
it's not true.
Speaker 1 (12:04):
Police escorted him out. I don't understand why police should
be escorting a man out who asks a valid question
out of town hall. He wasn't refusing to comply or
let her speak anyway.
Speaker 2 (12:16):
It is a good question. My bet would be that
they would argue that he was in peril. But if
he didn't want to leave, then he shouldn't be forced
to leave. There's nothing wrong with the question that he
asked what he's gonna be.
Speaker 1 (12:28):
He's gonna be mobbed by a bunch of blue haired communists.
Speaker 2 (12:31):
Who I don't know what rond was. I mean, first
of all, who shows up at a Was this a
public forum with the New York Attorney General? Can you
think of a more boring way to spend the night?
I mean, in all seriousness, I understand they have these
town halls and everything else, but the I don't even
know why the attorney general. I guess she's democratically elected,
(12:52):
so maybe she feels compelled to do these town halls.
But it actually, to me makes it look like you
are engaged, as she is, in direct response to the public,
which is why a lot of Attorney generals are not
elected to statewide office, because they're supposed to be above
the fray.
Speaker 1 (13:11):
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don't play around with your protection. I'm just a few
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(13:36):
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(13:57):
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Speaker 3 (14:39):
Making America great again isn't just one man, It's many.
The Team forty seven podcast Sunday's at noon Eastern in
the Clay and Buck podcast feed. Find it on the
iHeartRadio app or wherever you get your podcasts.
Speaker 2 (14:53):
Welcome back in Play Travis Buck Sexton Show Buck. I
don't know if you you have seen all this talk,
but I know we talked about the Jake Tapper Alex
Thompson book that is coming out. Scott Jennings said on
CNN the other day, I don't think maybe we can
grab this audio that Democrats are ready to reap the
(15:15):
whirlwind of what's going to come from this book. It
makes me think that a lot of people have already
read it. It hasn't been released yet, but you know
how this works when you're writing a book. You know,
people blurb it, they get to look at it early.
And maybe we need to get Scott Jennings on again
(15:35):
to talk about this on some level. And of course
Scott is CNN's resident non moron on their evening telecasts
who defends sanity. How much do you think if at all.
Biden going around now and trying to do the view
is in some ways a pre buddle to what they
(15:59):
know is coming. There's also talk, and I hadn't really
thought about this, that the Trump team could be prepared
to release the Robert her audio. Remember they gave us
a transcript. I think that's a no brainer. Do you
agree to go ahead and release the audio? The audio
should have been out before, but that seems like it
must be a calamity for Biden that they never released
(16:21):
it in the first place.
Speaker 1 (16:22):
Yeah, whatever they can to show the scale of the
cover up, because these same individuals who sold their integrity
and their souls to cover up for dementia. Riddle, Biden
now want to tell you about, you know, the Trump
stock market and what's going to happen with the border
and the same people they want you to have faith
in them, the so called journalists, and they were almost
(16:45):
to a person complicit in this, right. You know, they'll
they'll they'll point out one guy and by the way,
I'm not impressed. This is why I don't know, should
we even have the people on that wrote the book,
you know, one of them's anyway, I'm not gonna get
into it. I'm not impressed with Oh, but I I asked,
like a couple of questions about questions. You and I
are making jokes about carrying around a dead body pretending
(17:06):
it's alive, and weekend at Bernie's, and they're asking questions.
Speaker 2 (17:10):
I mean, this is absurd. I also think, because we
do get this question, why does this matter? Biden's not
president anymore. I think it matters because it devalues and
delegitimizes the legacy media that might try to attack Trump.
Speaker 1 (17:21):
Well, that's what I mean that this is why we
should everything should come out, the scale, the scope of
the cover up and the lies. They were all complicit
in this. These are the people who will How dare
you have questions about the election? You're an insurrectionist all.
I wonder what the I wonder what the crossover is
clay of people who use the term the insurrection about
(17:43):
January sixth and also covered up Biden having dementia, the
commander in chief, the guy with the nuclear codes.
Speaker 2 (17:50):
It's an overlapping Vinn diagram. It's one circle. But I
do think that's the important part here, is it delegitimizes
them massively. It's why we have to continue to cover
this story because any of their attacks on Trump are devalued.
As a result. NonStop action this week in both the
NBA and the NHL. Everybody excited, especially Knicks fans like
(18:12):
Buck Sexton. They don't even know how to react to
having a two to zero series lead. Tomorrow have a
chance to go up three to zero. NHL playoffs underway.
My Atlanta Braves making the way back. Nice win last
night over Cincinnati Reds towards five hundred. If you want
to get hooked up right now, you can go to
price Picks. You can play in California, Texas, Georgia, over
thirty states, thirteen million people playing. Just makes the game
(18:34):
a little bit more fun. You put in five dollars
on your picks, you get back fifty dollars. That is,
you get fifty bucks when you go to pricepicks dot
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Get hooked up now, pricepicks dot Com, code Clay. Kelly
Lefler been all traveling all over the country as part
(18:57):
of Small Business Week, and Kelly I just want to
kind of hee you up here right off the top,
how do you see based on your travels and the
data that you have access to, small business is clearly
the engine that drives, by and large, the American economy
is not huge businesses. Actually, it's all the dynamics small
businesses out there that are so incredibly important. What are
(19:19):
you seeing on your travels and how would you assess
the overall economic status of the country right now?
Speaker 5 (19:25):
Well, you're absolutely right. Small businesses are not only the backbone,
but there's the economic engine of this great nation. It's
ninety nine percent of all businesses across this country. So
it's incredibly humbling to be the cabinet level person advocating
within the Trump administration for small business. And there is
no stronger champion for small business and President Trump he
(19:46):
always says, Kelly, small business is big business. And I've
seen that as I traveled across the country. I was
everywhere from Boise, Idaho, to Phoenix, Arizona, to Nashville this week.
But every week I'm out with small business and there's
tremendous optimism thanks to President Trump's pro business, pro growth
agenda to lower taxes, get rid of regulation, get red
(20:07):
tape out of the way, and obviously what we do
is we provide capital, which is a lifeblood of businesses.
Speaker 1 (20:14):
Kelly, thanks for being here with us. There's some that
I know in the small business community who are all
supportive when it comes to the Trump tariffs, what he's
trying to accomplish, and they think it will benefit them
long term. But I have heard concerns about short term
supply shock, you know, that could hit in the next
few months, for example, because of particularly what's going on
(20:36):
with China, right that's where there's some issue. Are you
seeing any reason for concern when it comes to supply
shock that could affect a lot of businesses that rely
on some of those imports, And if so, what do
you think can be done to kind of mitigate that
so we can get to the other side where the
trade deals are in and things are booming.
Speaker 5 (20:55):
Yeah, it's an important question. Look, there's going to be
a period of adjustment and the President it's been very
clear about that. And as we talk with small businesses,
that concern is far outweighed by the opportunities that they
see to finally have fair trade. So when you hear
the word tariff, think fair trade, and restoring what we
used to have in this country, which was a reliable
(21:16):
supply chain that obviously got hollowed out. We lost seventy
thousand manufacturing plants, five million jobs. So at the SBA,
what we're trying to do is create a connection between
supply chains, manufacturers to onshore. We're going to be providing
those connections to small businesses so that they can have
alternatives to where they're importing from China. If they've built
(21:39):
their businesses around Chinese Communist Party manufacturing, we have to
make sure we bring that back. But it's already being
done in America, everything from aerospace to Saks to microchips
and beyond. Like we're already doing this. The left wing
media narrative is that we can't and we should not
(22:00):
do this, But I'm telling you it's happening, and all
it relies on is, you know, continuing to push those
tax cuts through, get rid of regulation, and make sure
we have a skilled work for us, and we're going
to be stronger than ever before.
Speaker 2 (22:14):
Kelly, when you look at this bill that is obviously
working its way through Congress right now, the big so
called big, beautiful bill that we expect to see come
through sometime around Memorial Day. How important do you believe
it is based on the conversations that you're having to
have some form of tax certainty given that the tax
cuts that Trump initially put into place in twenty seventeen
(22:37):
are set to expire, how important is it for businesses
to know what to expect in that arena.
Speaker 5 (22:45):
I think it's incredibly important, Clay, because I think this
economy is spring loaded for tax cuts, and you know,
I think it's something that's frustrating to me, as someone
who's spent decades in finance, is when the Fed only
looks at tariffs as an issue. We've got so much
counter inflationary good news coming into this economy. Not only
(23:07):
is inflation falling, but taxes are going to go down.
Regulation is going to go down if we give small
businesses the certainty that they will continue to have the
twenty percent deduction, bonus depreciation accelerated depreciation back to January twentieth.
I've talked to many manufacturers who are waiting to put
in the order for more CNC machines to buy more
(23:28):
land to grow and build because they're already getting the orders.
Thanks to President Trump's tariff strategy to bring people to
the table and bring manufacturing here. People are saying we
want to reshore. So it's ready to go. We need
Congress to act.
Speaker 2 (23:42):
What's your go ahead? Yeah, I was just going to say,
sorry the building on that question. I can't believe the
number of countries out there that are cutting interest rates
like crazy, in particular all over Europe. I don't know
that we've ever seen a divide like this. Is there
any doubt in your mind based on what you are
seeing that the Fed should be cutting interest rates?
Speaker 5 (24:04):
There's no doubt in my mind. We have four year
inflationary core inflationary lows. It's much lower when they did
double cuts last fall, right ahead of the election, And
when you have these counter inflationary trends of lower taxes,
less regulation, falling energy prices unbelievably low. We had a
(24:25):
five handle on the oil price the other day. The
tenure is already kind of self regulating itself down. So
I feel very confident that we should go into the
next rate cut looking at it. But who knows. I mean,
if this has become a political issue, anything could happen.
Speaker 1 (24:44):
If things go and We're speaking to Kulli Leffler, who
runs a small business administration for anyone joining us. If
things go as the Trump team is hoping, and as
we've started to see some indicators, for example, the deal
with the UK, we're hearing about an India deal, We're
hearing about other des on the horizon. If these trade
deals go through, let's say in the next sixty days
(25:04):
or so, most of them. Right China is probably going
to be a longer issue. But what happens for businesses
for the rest of the year that is positive? Like,
how are the way because right now, I think, as
you've said, Trump has made it clear there might be
an adjustment period and if you're relying on supply chain
from China, there could be some issues with that. But
what is the upside of making this fair trade for
(25:27):
We have a lot of small business owners listening right now,
a lot of people who work for small businesses right now,
How does this get better for them if the Trump
policy and well if the Trump deals rather go through.
Speaker 5 (25:38):
Yeah, that's a great question. We just saw yesterday the
UK trade deal opened up our ag markets to the
tune of five billion dollars. It's going to bring in
about six billion and tariff revenue. But what it's also
going to do is remove some of the non tariff
barriers that were put into their regulatory apparatus that blocked
our ability to ship our products overseas. I talked to
(26:01):
one logistics company who said his business used to be
half import half export ten fifteen years ago. Today it's
ten percent export because of all the trade barriers against
our country that have made us more dependent on bringing
in goods. So small businesses that I'm seeing on the ground,
the manufacturers and particularly are gearing up to invest and
(26:23):
make things in America that we can then ship overseas,
keep for ourselves and not be reliant on anyone for food,
for pharmaceuticals, other critical areas of our trade. So I think, look,
small businesses are certainly just critical in this conversation, and
I am making sure that they have a seat at
the table because this is the again, it's really the
(26:46):
backbone of our country, and we have to make sure
that we're well aware of everything going on in The
President is on top of it, and that's why he's
pushing fair trade, lower taxes, less regulation, low energy price.
Is this all benefits small businesses.
Speaker 2 (27:02):
Kelly, I hear you were touring the Tennessee Titans football stadium.
Hopefully at some point in time they'll actually start winning
games when that new stadium opens up. But there is
a lot of optimism. Obviously you've been in Tennessee. Nashville
is growing very rapidly. I know you live in Georgia,
which has also got a pretty good economy. Rolling what
do you think of the stadium and in general, what
(27:23):
do you think that's going to mean for downtown Nashville
where for people who are around here, I think we're
going to get a Super Bowl, which is going to
be pretty cool in a few years for the city
of Nashville.
Speaker 5 (27:34):
I think it's a tremendous investment that is really powering
the economy. Even today, we saw a thousand workers on site,
driven by more than sixty five small businesses that are
helping build that stadium. And so in addition to the
entertainment value and the value it brings to small businesses
in terms of creating sustainable businesses around that stadium, it's
(27:57):
just going to create this venue that builds a really
strong community. And I was with your great governor, Governor Lee,
and just looking at You know, I think the state
bird is now the crane, the construction crane, given how
many cranes are in the air there. But it was
exciting to see and they're doing a fantastic job. There
was a great small business contractor that won the SBA
(28:20):
one of the contractor or the SBA awards, And you know,
he was just talking about the generational change that this
economic development is creating for all communities across Tennessee.
Speaker 1 (28:32):
What does it look like, Kelly, if we get to
a reasonable best case outcome, specifically with the trade tariff
issue with China, like what we know with our other allies,
because you've already seen some of they go, Okay, we
need to reassess this, you need to even some things out.
That's fine. China is a different balloax and a much
(28:53):
bigger challenge, I think than obviously our allies offer for
clear reasons. What does it look like if Trump gets
that where he wants it to be.
Speaker 5 (29:03):
Yeah, that's an important question in those conversations are starting tomorrow.
It sounds like, and what we need to make sure
is that America's interests are protected in this in ways
that they have not been in the past, whether it's
intellectual property. What happened is we would send our intellectual
property o receives, they'd manufacture it for us, and then
(29:25):
they'd put the trade barrier up, so they would have
stolen our intellectual property manufacturer there for their people, and
then we lose that market. So we're going to have
those protections. We're going to have larger markets if we
can have more cooperative reciprocal trade levels, and then we
won't have the non tariff trade barriers that they've set
up against us. They've put up kind of false environmental barriers,
(29:47):
health barriers, and other things that they don't hold themselves to,
but they can erect that against our manufacturers. And so
I think restoring our strength by having manufacturing here and
doing our energy dominance agenda, we start mining in America again,
getting the rarers minerals, and making sure that we protect
(30:08):
our economic security and our national security at the same time,
because we have seen with the Chips situation and others,
rarers were way too dependent on China in terms of
national security, and I've seen some great chips manufacturers small
businesses in America. This can be done, but we have
to really focus in on that as much as we're
(30:29):
focusing on what China is doing.
Speaker 1 (30:32):
Kelly Leffler, Administrator of the US Small Business Administration, Kelly,
thanks so much for being with us. Appreciate it.
Speaker 5 (30:40):
Thank you all. Great to be with you.
Speaker 1 (30:43):
I'm optimistic, well, we've been optimistic the whole time actually
about the economy.
Speaker 2 (30:47):
I think we have this summer, and again I don't
want to go full Jim Kramer here because he tends
to be wrong on everything, but I think by the summer,
as more and more of these trade deals are rolling out,
I think we will be back and near an all
time high in where stock prices are.
Speaker 1 (31:04):
You know, some of our adversaries get a vote as well.
And officials from the bricks nations are meeting in Brazil
this July to discuss the US dollar. I mean, these
are big countries with big economies, China, Russia, India, South Africa.
One of the topics at that meeting is whether they
can displace the US dollar as the global currency. They're
calling this a rio reset for a reason. If that
(31:24):
were to happen, there's an if in that statement, but
you got to be prepared for it. Then global demand
for US dollars would dramatically decrease, and that would bring
down the value of the dollars in your savings account.
This transition is not going to happen overnight, but it's
a good idea to prepare for the uncertainties in the future,
to hedge for what could happen with these bricks objectives.
(31:44):
Learn if diversifying into gold is smart for you, because
I thought it was smart for me.
Speaker 2 (31:49):
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Speaker 1 (31:51):
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Speaker 3 (32:25):
Out with the guys on the Sunday Hang with Clay
and Buck podcast.
Speaker 2 (32:29):
A new episode every Sunday.
Speaker 3 (32:31):
Find it on the iHeart app or wherever you get
your podcasts.
Speaker 2 (32:35):
Appreciate all of you hanging out with us. We are
rolling through the Friday edition of the program Hopeball. You're
gonna have fantastic weekends. I'm going to be up in
Chicago this weekend. Buck hometown of Pope. Oh God, I've
already forgotten his name. Fourteenth Leo, Leo Leo, the fourteenth
Pope from Chicago, Chicago White Sox fan. I'm gonna go
(32:57):
get some deep dish pizza. I've got my oldest son
going with me, which should be super fun. Going to
be speaking at the University of Chicago again. Last time
I went there that created some fireworks, so should be fun.
I'll be there Saturday morning. I think I tweeted out
the link if anybody's in the Chicago area, and we're
gonna go get some deep, deep dish pizza while we're there.
(33:17):
But I also am going to have a little bit
of a late night, a little bit of a late flight,
and so I'm going to be pounding Crockett Coffee this
afternoon to take me into the weekend. We have a
brand new mushroom coffee available, and if you go and
subscribe and use code Book, you get an autograph copy
of my most recent book, American Playbook, which Katie, who
(33:38):
has been working with me for a decade, is going
to be sending out to your homes. If you go
to Crocketcoffee dot com and subscribe use codebook Boom, you
can be on your way to having a good time
with that. Do we have? I've got a couple of
different clips that I wanted to hit when we come
into the top next hour. The Bernie Sanders talking about
(34:03):
wife Li's private and also, we didn't get to play
for you yesterday Joe Biden doing the view the full
clips that we had because news about the new pope broke,
but a lot of EP emails and whatnot. Rolling in
line says some of these callers so pessimistic. I believe
the majority of cardinals picked who the Holy Spirit nudged
(34:25):
them too. I'm ecstatic. Let's be hopeful and give the
man a chance, super fun time to live through. Please
listen to some positive callers. I'm Catholic, and I believe
the vast majority are thrilled. Everyone in my friends and
family is buck I'll tell you this my friends and family.
Everybody is just ecstatic that there is an American pope
(34:46):
because we had been told for so long it wasn't
going to ever happen because of the power that America
had on the global stage already, and so I thought
that the overall reaction would be very positive, and so
far it has. Did you find that to be the case?
After we got off the air, the news broke while
we were on the air, so we were in real
(35:06):
time scrambling because this guy kind of came out of nowhere.
No one anticipated that that was likely going to be
the pick. Yes, well, we have to see what this
pope does. And for believing Catholics within the church, there
is a hand of God in all things, certainly in
the picking of the next leader of his church. So yeah,
(35:30):
I think or of the Catholic Church. So I think
that there's plenty of reasons for tremendous optimism. And it's
a it's a.
Speaker 1 (35:37):
New era in the church, and we shall see how
it all goes. You know, we don't know anything until
we know something.
Speaker 2 (35:43):
I'd put it.
Speaker 1 (35:43):
I tell you that you know who else doesn't know anything?
As Bernie Sanders, He's going around on the on the
tour of oligarchy.
Speaker 2 (35:52):
We need to people who.
Speaker 1 (35:54):
Fall for this stuff. And you know, it's interesting even
some of the people that have switched over to the
right in recent years become trying voters used to be
Bernie people. And I always want to sit down with
him and say, he is such a charlatan. Really, when
you get down to it, how do you not see
what a phone? He's consistent, but that's not the same
thing as not being a phony. He's the biggest phony.
(36:17):
And we'll get into he's a socialist who owns three
houses and wants to lecture you about rich people. We'll
talk about that coming up.
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