Republicans Fail on Spending Cuts Again!

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Episode Transcript

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):
YEP, Republicans failed on spending cuts again. There was a
proposed recisions package that was supposed to hit the flaw
this week. That's right, Yeah, the week of May fifth,
twenty twenty five. It aimed to cancel nine point three

(00:38):
billion dollars in previously approved funding. This is basically a
lot of the foreign aid programs, the State Department, the
public broadcasting entities like PBS and NPR. Basically, the recisions process,
which is governed by the Impoundment Control Act of nineteen
seventy four, allows a president to pare canceling appropriated funds. Now,

(01:03):
Congress must approve within forty five days of a continuous
session via a simple majority in both chambers, and it's
fast trapped to formalize the spending cuts. These are all
things that Elon Musk did, that Doge did, what Republicans
do now. Concerned might be a national security concern here,

(01:28):
I'm a little worried about this. No, no, no, you
guys are not interested in cutting anything. All you're considered about.
All you care about is yourself, yourself and the money
that you can reap from the various different people within
your district that's going to send you cash. You should

(01:50):
all be ashamed of yourself once again. It's unfortunate, But
it looks like everything that Doze is done is going
to go by the wayside. Oh sure, sure. Those basically
took a highlighter pen and highlighted all sorts of waste
and fraud.

Speaker 3 (02:06):
Those can't cut anything, doesn't have that power. It's one
of the things the left wing lunatics failed to understand.
They can highlight where we need to cut, they can't
do it. Congress needs to do it. And guess who
has Congress right now? Republicans do simple majority, simple majority,
and they're unwilling to do it.

Speaker 2 (02:28):
Keep vote Republican. They're great watchdog on Wall Street dot Com.