December 20, 2024 • 8 mins
Chris takes listeners inside Washington D.C.'s legislative "sausage factory," explaining how massive spending bills are crafted to include unnecessary and unrelated items. Highlighting the recent debt ceiling and disaster relief debates, Markowski reveals how both parties protect their interests, make backroom deals, and burden taxpayers with wasteful spending. He also praises those holding the line against excessive bills and urges reforms inspired by global examples like Argentina. www.watchdogonwallstreet.com
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
All right, pay attention. I am going to explain it all.
I am going to take you inside inside the Washington,
DC sausage factory. I am going to show. I'm going
to lay out to you how everything works. I'm going
to tell you things that the mainstream media will not
(00:40):
tell you. I'm going to tell you how both parties
protect one another so they can enrich themselves and get
what they want.
Speaker 3 (00:49):
I'm going to explain to.
Speaker 2 (00:50):
You, and you're going to see how exactly we, the voters,
get screwed again and again again. So, okay, we had
a round two yesterday with the continuing Resolution and you
had some thirty was it thirty five? Thirty eight Republicans
(01:14):
voted no. Good good for them. I'm thrilled that they
voted no. Oh yeah, I am Trump And what were
they voting on here? I'm glad, I'm thrilled. I'm thrilled
(01:37):
that they you know, they cut the bill down to size.
They took a lot of crap out of the bill.
You know what they didn't take out of the bill,
spending spending with the debt limit increase. With the debt
limit increase, it actually was bigger than the fifthfteen hundred
(02:01):
page bill. Now, I mentioned this today on the program.
I know I use this character often as of late,
and I have to use them because, you know, quite frankly,
we're constantly abusing the English language. And I'm going to
go back to Nigo Montoya from the movie The Princess Bride.
You keep using that word. I don't think it means
(02:23):
what you think it means. Debt limit, debt ceiling. They
call it that, but it's not it. It's not even
debt limit, debt ceiling, okay, the way that they define it,
it's not even like a suggestion. They just plow through
(02:44):
it every single time. Let me explain to you why
why things are crammed into bill's Thomas Massey ken I
love Massy, He tweeted out yesterday. He said, separate the
bills and vote on them individually. One vote on the
(03:07):
clean CR, one vote on the debt limit, one vote
on disaster relief, one vote on farm bailouts? Does it
does not make sense?
Speaker 3 (03:21):
Doesn't it make sense?
Speaker 2 (03:22):
Even his latest bill, even this this, this one has
been whittled down to size. Here five point seven billion
dollars for submarines, five points for submarines in the latest
But wait a seute, didn't.
Speaker 3 (03:38):
We just pass the Defense Appropriations bill? Didn't that just
go through one hundred billion dollars?
Speaker 2 (03:46):
Okay, I gotta get money out of there's all these
people with the disaster assistance. Do you know how that
that one hundred billion dollars has got to be spent
within the next thirty days?
Speaker 3 (03:59):
You want to and over just one hundred.
Speaker 2 (04:02):
Billion dollars to the Biden administration If you want to
give a grant to the states that have been affected
and have them handle it, fine, how much of this
money do you actually think is going to.
Speaker 3 (04:17):
Actually help people when.
Speaker 2 (04:18):
All is said and done, For crying out loud, states
still have COVID money that they haven't spent. You're going
to give the Biden administration one hundred billion dollars to
spend in thirty days? What do you freaking mind?
Speaker 3 (04:35):
Why?
Speaker 2 (04:35):
Okay, here's a sausage factory. Why are bills done this
way in Washington, DC. Why do they cram all of
these things in the reason being is is both Democrats
and Republicans know that many of the things that they
cram into these bills wouldn't pass by themselves. If they
(04:59):
put them up to vote individually, they wouldn't pass. Well,
what happens is is that these members of Congress, the longer,
they say, and.
Speaker 3 (05:10):
This is how it works.
Speaker 2 (05:11):
The longer you are there, the longer you are there,
the more powerful you become.
Speaker 3 (05:19):
Kind of like a vampire. Yeah, you know the vampire lore.
Speaker 2 (05:23):
The older the vampire, the more powerful that vampire is.
Speaker 3 (05:28):
It's the same thing, isn't it, ironic?
Speaker 2 (05:31):
Vampire law and political law, same money thing.
Speaker 3 (05:35):
The longer they're the more powerful they become.
Speaker 2 (05:38):
And this is where they can start giving themselves carveouts
and cutouts and spending programs that they can send back
to their state, back to their district. Because again, the
longer they're there, they're more powerful. And that's when they
start having donors, being able to cut real fact checks
and they can start paying these donors back. You got
(05:59):
understand this, big money donors, they're not stupid, they're making
an investment. They're investing in politicians. You remember, I said
the best investment during the Obama years was to actually
invest in Obama and get yourself to start a green company,
because he was just thrown away billions of dollars at
everything and anything that was out there. None of these things,
(06:20):
most of these things would never pass by themselves, but
because you put them in these bills, they horse trade.
I'll pass your bullshit bill that wouldn't see the light
of day if it was voted on individually, as long
as you pass my bullshit bill. That's how we get
screwed as tax players. That's how we end up with
(06:43):
these massive bills. That's how you end up when Rand
Paul or others out there are going through things that
we spend money on. That's how the local bum you
know what university in the middle of nowhere is doing
some sort of research on cocaine and monkeys. You're like,
(07:03):
how the hell did that happen? Well, they shoved it
in a bill. They shoved it in a bill because
some politician within that district I don't know, wanted to
give his university some money make himself look good. If
you think that this is what the founding fathers had
(07:24):
in mind. No, no, but but again, that's how our
countries run. That's why we have bills like this. This
is how this is how the sausage is made. This
is how we get screwed. So now, no, I've got
(07:45):
no problem with shutting the government down, none whatsoever. Oh
I know, you know the time I'm doing this. It's
earlier in the morning on Friday. Supposing they got planned
c which means they're probably gonna punt. Probably gonna a punt.
Speaker 3 (08:00):
We're gonna keep the government funded for the next couple
of weeks.
Speaker 2 (08:04):
And then rinse and repeat and hopefully nobody's paying attention
and they're gonna shove this down our throats. Good for
the members of the Republican Caucus that held the line
on this. You want to raise the debt suiting, go ahead,
give me give me some spending offsets.
Speaker 3 (08:25):
No, you can't do that.
Speaker 2 (08:26):
Both you can do it. Oh, you can do it
if you don't know how. There's this guy in Argentina,
he's been there for a year. We want to call
him up. His name was Javier Malay.
Speaker 3 (08:39):
He did it? Do it?
Speaker 2 (08:43):
The sausage factory needs to be shut down. Watchdog on
wall street dot Com,
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
All right, pay attention. I am going to explain it all.
I am going to take you inside inside the Washington,
DC sausage factory. I am going to show. I'm going
to lay out to you how everything works. I'm going
to tell you things that the mainstream media will not
(00:40):
tell you. I'm going to tell you how both parties
protect one another so they can enrich themselves and get
what they want.
Speaker 3 (00:49):
I'm going to explain to.
Speaker 2 (00:50):
You, and you're going to see how exactly we, the voters,
get screwed again and again again. So, okay, we had
a round two yesterday with the continuing Resolution and you
had some thirty was it thirty five? Thirty eight Republicans
(01:14):
voted no. Good good for them. I'm thrilled that they
voted no. Oh yeah, I am Trump And what were
they voting on here? I'm glad, I'm thrilled. I'm thrilled
(01:37):
that they you know, they cut the bill down to size.
They took a lot of crap out of the bill.
You know what they didn't take out of the bill,
spending spending with the debt limit increase. With the debt
limit increase, it actually was bigger than the fifthfteen hundred
(02:01):
page bill. Now, I mentioned this today on the program.
I know I use this character often as of late,
and I have to use them because, you know, quite frankly,
we're constantly abusing the English language. And I'm going to
go back to Nigo Montoya from the movie The Princess Bride.
You keep using that word. I don't think it means
(02:23):
what you think it means. Debt limit, debt ceiling. They
call it that, but it's not it. It's not even
debt limit, debt ceiling, okay, the way that they define it,
it's not even like a suggestion. They just plow through
(02:44):
it every single time. Let me explain to you why
why things are crammed into bill's Thomas Massey ken I
love Massy, He tweeted out yesterday. He said, separate the
bills and vote on them individually. One vote on the
(03:07):
clean CR, one vote on the debt limit, one vote
on disaster relief, one vote on farm bailouts? Does it
does not make sense?
Speaker 3 (03:21):
Doesn't it make sense?
Speaker 2 (03:22):
Even his latest bill, even this this, this one has
been whittled down to size. Here five point seven billion
dollars for submarines, five points for submarines in the latest
But wait a seute, didn't.
Speaker 3 (03:38):
We just pass the Defense Appropriations bill? Didn't that just
go through one hundred billion dollars?
Speaker 2 (03:46):
Okay, I gotta get money out of there's all these
people with the disaster assistance. Do you know how that
that one hundred billion dollars has got to be spent
within the next thirty days?
Speaker 3 (03:59):
You want to and over just one hundred.
Speaker 2 (04:02):
Billion dollars to the Biden administration If you want to
give a grant to the states that have been affected
and have them handle it, fine, how much of this
money do you actually think is going to.
Speaker 3 (04:17):
Actually help people when.
Speaker 2 (04:18):
All is said and done, For crying out loud, states
still have COVID money that they haven't spent. You're going
to give the Biden administration one hundred billion dollars to
spend in thirty days? What do you freaking mind?
Speaker 3 (04:35):
Why?
Speaker 2 (04:35):
Okay, here's a sausage factory. Why are bills done this
way in Washington, DC. Why do they cram all of
these things in the reason being is is both Democrats
and Republicans know that many of the things that they
cram into these bills wouldn't pass by themselves. If they
(04:59):
put them up to vote individually, they wouldn't pass. Well,
what happens is is that these members of Congress, the longer,
they say, and.
Speaker 3 (05:10):
This is how it works.
Speaker 2 (05:11):
The longer you are there, the longer you are there,
the more powerful you become.
Speaker 3 (05:19):
Kind of like a vampire. Yeah, you know the vampire lore.
Speaker 2 (05:23):
The older the vampire, the more powerful that vampire is.
Speaker 3 (05:28):
It's the same thing, isn't it, ironic?
Speaker 2 (05:31):
Vampire law and political law, same money thing.
Speaker 3 (05:35):
The longer they're the more powerful they become.
Speaker 2 (05:38):
And this is where they can start giving themselves carveouts
and cutouts and spending programs that they can send back
to their state, back to their district. Because again, the
longer they're there, they're more powerful. And that's when they
start having donors, being able to cut real fact checks
and they can start paying these donors back. You got
(05:59):
understand this, big money donors, they're not stupid, they're making
an investment. They're investing in politicians. You remember, I said
the best investment during the Obama years was to actually
invest in Obama and get yourself to start a green company,
because he was just thrown away billions of dollars at
everything and anything that was out there. None of these things,
(06:20):
most of these things would never pass by themselves, but
because you put them in these bills, they horse trade.
I'll pass your bullshit bill that wouldn't see the light
of day if it was voted on individually, as long
as you pass my bullshit bill. That's how we get
screwed as tax players. That's how we end up with
(06:43):
these massive bills. That's how you end up when Rand
Paul or others out there are going through things that
we spend money on. That's how the local bum you
know what university in the middle of nowhere is doing
some sort of research on cocaine and monkeys. You're like,
(07:03):
how the hell did that happen? Well, they shoved it
in a bill. They shoved it in a bill because
some politician within that district I don't know, wanted to
give his university some money make himself look good. If
you think that this is what the founding fathers had
(07:24):
in mind. No, no, but but again, that's how our
countries run. That's why we have bills like this. This
is how this is how the sausage is made. This
is how we get screwed. So now, no, I've got
(07:45):
no problem with shutting the government down, none whatsoever. Oh
I know, you know the time I'm doing this. It's
earlier in the morning on Friday. Supposing they got planned
c which means they're probably gonna punt. Probably gonna a punt.
Speaker 3 (08:00):
We're gonna keep the government funded for the next couple
of weeks.
Speaker 2 (08:04):
And then rinse and repeat and hopefully nobody's paying attention
and they're gonna shove this down our throats. Good for
the members of the Republican Caucus that held the line
on this. You want to raise the debt suiting, go ahead,
give me give me some spending offsets.
Speaker 3 (08:25):
No, you can't do that.
Speaker 2 (08:26):
Both you can do it. Oh, you can do it
if you don't know how. There's this guy in Argentina,
he's been there for a year. We want to call
him up. His name was Javier Malay.
Speaker 3 (08:39):
He did it? Do it?
Speaker 2 (08:43):
The sausage factory needs to be shut down. Watchdog on
wall street dot Com,
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