Original Broadcaster Captioning (Enhanced). Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00BROADEN ACCESS TO INVESTING IN CERTAIN PRODUCTS. SO MAIN STREET
00:00:04INVESTORS ARE CAPITAL PROVIDERS
00:00:06THEMSELVES. AND IF CONGRESS CONSIDERS LEGISLATION THAT
00:00:09BROADENS ACCESS TO INVESTING, WHAT GUARDRAILS DO YOU BELIEVE
00:00:13THAT CONGRESS SHOULD INCLUDE >> THANKS FOR YOUR QUESTION, SENATOR. I THINK ANYTIME YOU'RE
00:00:16TALKING ABOUT BROADENED ACCESS OR PROVIDING INFORMATION OR
00:00:20PROVIDING ACCESS TO ALL, I THINK THE FOUNDATION QUESTION SHOULD
00:00:24BE THAT WE SHOULD NOT PROVIDE
00:00:26ACCESS TO EVERYONE WITHOUT INVESTMENT PROTECTION,
00:00:29DISCLOSURE, AND TRANSPARENCY. I THINK THAT WHAT CONGRESS CAN DO IS THINK OF ANY TYPE OF
00:00:33LEGISLATION. BUT THE FIRST THING YOU SHOULD THINK ABOUT IS, WILL
00:00:36THIS LEGISLATION COST? IS IT
00:00:38SOMETHING THAT HAS A HAS A DETRIMENT TO, TO PEOPLE WHO
00:00:42ACTUALLY TRYING TO PROVIDE. SO I THINK THAT WHEN ANYTIME YOU'RE TRYING TO THINK OF ACCESS OF
00:00:45POLICIES, YOU ALSO, IN THE BACK OF YOUR MIND, THINK ABOUT INVESTMENT PROTECTION,
00:00:49TRANSPARENCY, AND THINGS OF THE SUCH.
00:00:53>> THANK YOU. >> THANK YOU, SENATOR ALSOBROOKS. THANKS TO ALL FOUR WITNESSES FOR BEING WITH US
00:00:56TODAY. WE REALLY APPRECIATE YOUR INSIGHT, YOUR PERSPECTIVE, AND
00:00:59YOUR EXPERTISE. WE LOOK FORWARD
00:01:01TO CONTINUING TO ENGAGE ON THIS VERY IMPORTANT TOPIC FOR
00:01:04SENATORS WHO WISH TO SUBMIT QUESTIONS, FOR HEARING, FOR THE
00:01:07HEARING, RECORD. THOSE QUESTIONS
00:01:09ARE DUE ONE WEEK FROM TODAY, AUGUST 13th. WITNESSES HAVE 45
00:01:13DAYS FROM THAT DAY TO FOLLOW UP
00:01:15WITH ANSWERS. THANK YOU. THE
00:01:19COMMITTEE IS NOW ADJOURNED.
00:01:35>> AND WE'RE LIVE HERE IN THE US SENATE, WAITING FOR A
00:01:38LAWMAKER TO SPEAK ON TODAY'S SCHEDULE. MORE WORK ON A GROUP
00:01:42OF 74 OF PRESIDENT TRUMP'S
00:01:44EXECUTIVE AND JUDICIAL NOMINEES, INCLUDING TSA AND FEMA
00:01:48ADMINISTRATORS, THE U.S. ARCHIVIST AND WHITE HOUSE BUDGET
00:01:52DEPUTY DIRECTOR. WE MAY ALSO SEE FURTHER ACTION TODAY ON
00:01:55LEGISLATION FUNDING. THE FEDERAL GOVERNMENT PAST THE SEPTEMBER
00:01:5830th DEADLINE TO DECEMBER 11th,
00:02:01AND A BILL TO IMPOSE ADDITIONAL SANCTIONS AGAINST RUSSIA AND
00:02:05IRAN, NAMED AFTER THE LATE SOUTH CAROLINA SENATOR LINDSEY GRAHAM.
00:02:08AND, OF COURSE, THE NOMINATION OF TODD BLANCHE CONTINUES TO
00:02:11AWAIT A FULL SENATE VOTE, WITH
00:02:14MAINE REPUBLICAN SUSAN COLLINS DECLARED NO VOTE. THE MARGIN FOR
00:02:18PASSAGE IS SLIM. HOWEVER, ARIZONA DEMOCRAT RUBEN GALLEGO
00:02:22LEFT TOWN TO ATTEND TO HIS WIFE,
00:02:24WHO HAD AN EMERGENCY APPENDECTOMY SURGERY. WHILE
00:02:27ORIGINALLY SAYING HE WOULD MISS VOTES TO CARE FOR HER, HE POSTED
00:02:31EARLIER TODAY THAT HE WOULD NOT MISS THE VOTE ON MR. BLANCHE.
00:02:35YOU'RE WATCHING LIVE COVERAGE OF THE SENATE HERE ON C-SPAN.
00:02:38TWO.
00:02:42>> MR. PRESIDENT, I COME TO THE
00:02:45FLOOR TODAY BECAUSE YESTERDAY I HEARD THE MINORITY LEADER ON THE
00:02:49FLOOR SPEAKING ABOUT THE
00:02:51ECONOMY. HE SOUNDED UPSET,
00:02:54SOUNDED UPSET TO HEAR THAT
00:02:56AMERICANS WERE KEEPING MORE OF
00:02:58THEIR HARD EARNED MONEY. HE
00:03:03ACTUALLY CALLED IT DISASTROUS. 97% OF AMERICANS BENEFITED FROM
00:03:07THE WORKING FAMILIES TAX CUTS
00:03:09LAW. THIS IS A BENEFIT. THIS IS
00:03:12NOT A DISASTER. WHAT I SEE AS DISASTROUS IS THE DEMOCRATS
00:03:16DEMAND TO RAISE TAXES. THEY WANT TO RAISE TAXES ON HARDWORKING
00:03:19AMERICANS ALL ACROSS THE COUNTRY. DEMOCRATS CONTINUE TO
00:03:23THINK THAT THEY KNOW HOW TO
00:03:25SPEND YOUR MONEY BETTER THAN YOU
00:03:28DO. I THINK IT'S BEEN A LIFELONG
00:03:31OBSESSION WITH THEM. IT'S PART OF THEIR DNA. IT'S BEEN GOING
00:03:34ON FOR YEARS TAX RATES FELL
00:03:39SIGNIFICANTLY THIS PAST YEAR,
00:03:41AND IT'S BECAUSE REPUBLICANS
00:03:44CUT TAXES. SO WHO ARE THE PEOPLE THAT BENEFITED THE MOST? WELL,
00:03:46THERE ARE PEOPLE, FAMILIES THAT
00:03:49MADE LESS THAN $200,000 A YEAR. THAT'S WHERE THE BENEFITS REALLY
00:03:52HIT HOME. HAPPENED ALL ACROSS THE COUNTRY, FROM CONNECTICUT TO
00:03:56CALIFORNIA. EVEN THOUGH THOSE
00:03:57STATES ARE REPRESENTED BY
00:04:00DEMOCRATS. PEOPLE ALL ACROSS THE COUNTRY BENEFITED. FAMILIES KEPT
00:04:03MORE OF WHAT THEY EARNED, AND THEN THEY COULD MAKE THEIR OWN DECISIONS ABOUT WHAT TO SAVE,
00:04:06WHAT TO SPEND, WHAT TO INVEST.
00:04:09YOU KNOW, WHO KNOWS IT? PEOPLE ON SOCIAL SECURITY KNOW IT. THEY
00:04:12GOT TO KEEP MORE OF THEIR HARD
00:04:14EARNED MONEY. PEOPLE WORK OVERTIME, KNOW IT BECAUSE OF NO
00:04:17TAX ON OVERTIME. PEOPLE WHO WORK
00:04:20FOR TIPS KNOW IT BECAUSE THEIR
00:04:22TIPS WEREN'T TAXED. PEOPLE UNDERSTOOD AND FELT THE
00:04:26IMPROVEMENT. ONE RESIDENT OF
00:04:30NEVADA RECENTLY SAID, I RECEIVED THE LARGEST TAX RETURN IN MY
00:04:32ENTIRE LIFE THIS YEAR. WHY NO
00:04:37TAX ON TIPS? EVERY SINGLE DEMOCRAT IN THIS CHAMBER VOTED
00:04:41AGAINST THESE THEY WANTED PEOPLE
00:04:46WHO EARN TOP TIPS TO PAY MORE IN TAXES. DEMOCRATS WANTED. PEOPLE WANT SOCIAL SECURITY TO PAY MORE
00:04:50IN TAXES. DEMOCRATS WANTED
00:04:52PEOPLE WHO WORK OVERTIME TO PAY
00:04:54MORE IN TAXES. AND THAT'S A
00:04:56DEFINING DIFFERENCE. MR.
00:04:59PRESIDENT, THE AMERICAN PEOPLE
00:05:03CLEARLY UNDERSTAND THIS. THE AMERICAN PEOPLE ARE TIRED AND SICK OF SEEING THEIR MONEY,
00:05:07THEIR TAXPAYER MONEY WASTED ON FRAUD, ABUSE, AND CORRUPTION.
00:05:10AND WE'RE SEEING THOSE THINGS
00:05:12ACROSS THE COUNTRY. PEOPLE WANT
00:05:14TO KEEP MORE OF WHAT THEY EARN,
00:05:17AND THEY KNOW THEY'RE THE BEST JUDGE. HOW TO SPEND IT THAT'S
00:05:21WHAT REPUBLICANS ARE FIGHTING FOR. WE'RE GOING TO CONTINUE TO FIGHTING FOR THAT. THAT'S THE
00:05:24DIRECTION OUR COUNTRY IS HEADED.
00:05:26AND IN NOVEMBER OF 2024, PEOPLE
00:05:29MADE A CLEAR CHOICE. THEY CHOSE
00:05:32TO VOTE FOR REPUBLICANS BECAUSE
00:05:36THEY WANTED AMERICA TO BE SAFER,
00:05:38STRONGER, AND MORE PROSPEROUS.
00:05:41AND WE ARE TODAY. OVER THE PAST
00:05:4318 MONTHS, REPUBLICANS HAVE UPHELD THAT COMMITMENT. WE'VE
00:05:47DELIVERED FOR THE AMERICAN PEOPLE. WE'RE MAKING SURE
00:05:50PEOPLE KEEP MORE OF WHAT THEY
00:05:53EARN. MORE THAN 60 MILLION
00:05:56AMERICANS BENEFITED FROM THE NEW TAX BENEFITS. SINCE REPUBLICANS
00:05:59PASSED THE WORKING FAMILIES TAX
00:06:02CUTS LAW. LET ME REMIND YOU
00:06:04ABOUT THE TRUMP ACCOUNTS. MORE
00:06:06THAN 7 MILLION AMERICAN CHILDREN
00:06:09ARE NOW SIGNED UP THIS YEAR FOR
00:06:11THIS SPECIAL NEW INVESTMENT
00:06:16ACCOUNT. IT'S AN ASTONISHING THING. FAMILIES, FRIENDS,
00:06:19COMMUNITY GROUPS, AND EVEN
00:06:21BUSINESSES ARE ALREADY INVESTING
00:06:24IN THEM. THIS IS CLEARLY
00:06:26STRENGTHENING THE AMERICAN DREAM FOR THE NEXT GENERATION. MR.
00:06:29PRESIDENT, I ALSO WANT TO TALK ABOUT THE BORDER, BECAUSE TODAY,
00:06:32OUR NATION'S IMMIGRATION LAWS
00:06:35ARE BEING STRONGLY ENFORCED.
00:06:38NATIONAL SECURITY BEGINS WITH
00:06:42BORDER SECURITY. ABSOLUTELY. ZERO ILLEGAL IMMIGRANTS HAVE BEEN RELEASED INTO OUR COUNTRY
00:06:46IN OVER 14 MONTHS. ABSOLUTELY
00:06:48ZERO. BECAUSE REPUBLICANS HAVE ENDED THE RECKLESS JOE BIDEN
00:06:52CATCH AND RELEASE PROGRAM. AND
00:06:54WHAT A DISASTER THAT WAS.
00:06:57HUNDREDS AND THOUSANDS OF
00:06:59HUNDREDS OF THOUSANDS OF ILLEGAL IMMIGRANT CRIMINALS HAVE NOW
00:07:02BEEN ARRESTED AND DEPORTED SINCE
00:07:05PRESIDENT TRUMP TOOK OFFICE. AND WE'RE SEEING THE MOST SECURE
00:07:09BORDER AND THE MOST SUCCESSFUL
00:07:11DEPORTATION OPERATION IN ALL OF
00:07:14AMERICAN HISTORY. THIS YEAR, REPUBLICANS ALSO PASSED THE
00:07:17SECURE AMERICA ACT. THIS LAW ENSURES THAT IMMIGRATION
00:07:21OFFICIALS HAVE THE RESOURCES THAT THEY NEED TO KEEP OUR
00:07:23COUNTRY SAFE, AND TO KEEP OUR
00:07:26COMMUNITIES SAFE FOR YEARS TO
00:07:29COME. THIS ONE MENTIONED
00:07:32AFFORDABILITY, MR. PRESIDENT, BECAUSE TODAY, CONGRESS IS
00:07:35HAVING IS MAKING IT EASIER TO
00:07:37BUILD AND EASIER TO INNOVATE.
00:07:40THE LARGEST HOUSING REFORM BILL IN HISTORY IS NOW THE LAW OF THE
00:07:44LAND. WE ELIMINATED BURDENSOME REGULATIONS, REGULATIONS THAT
00:07:48MADE IT TOO COSTLY TO BUILD A
00:07:50NEW HOME IN AMERICA. AND WE'RE
00:07:54UNLOCKING THE AMERICAN DREAM OF HOME OWNERSHIP FOR A NEW
00:07:57GENERATION OF AMERICANS.
00:08:00CONGRESS ALSO PASSED THE FIRST MAJOR DIGITAL ASSET BILL IN
00:08:03AMERICAN HISTORY. IT'S CALLED THE GENIUS ACT. MY COLLEAGUE,
00:08:06CYNTHIA LUMMIS FROM WYOMING HAS
00:08:08BEEN A LEADER ON THE ISSUE.
00:08:10IT'S TIME FOR THE SENATE TO BUILD ON THAT BY PASSING THE
00:08:15CLARITY ACT. AMERICA IS SAFER
00:08:19AND STRONGER WHEN WE INNOVATE. I ALSO WANT TO TALK ABOUT SOME OF THE THINGS WE'RE DOING HERE TO
00:08:23MAKE SURE THE PRESIDENT HAS HIS
00:08:24TEAM FULLY IN PLACE, AND THAT'S
00:08:29CONFIRMATIONS. TODAY, REPUBLICANS ARE GETTING THE PRESIDENT'S TEAM FULLY IN
00:08:32PLACE. VERY SOON, WE WILL
00:08:34CONFIRM AN ADDITIONAL 74
00:08:36NOMINEES. THIS WILL BE NEARLY
00:08:39600 PEOPLE CONFIRMED IN THE
00:08:41SECOND TRUMP ADMINISTRATION. THAT'S 60 MORE NOMINEES THAN HE
00:08:44HAD AT THIS POINT IN THE FIRST
00:08:48TRUMP ADMINISTRATION. AND WE'VE
00:08:49DONE IT IN THE FACE OF HISTORIC
00:08:52OBSTRUCTION BY THE DEMOCRATS NOW
00:08:55WE SEE THESE SAME DEMOCRATS ARE TRYING TO TEAR DOWN OUR COUNTRY,
00:08:58AND THEY'RE TRYING IT ALL
00:09:00ACROSS THE NATION. THE DEMOCRATS
00:09:03AGENDA IS NOT FOR A BETTER AMERICA, NOT FOR A BETTER FUTURE
00:09:05FOR OUR CHILDREN. NO, NO. THEY ACTUALLY, IT'S NOT EVEN AN
00:09:09AGENDA. IT'S A MANIFESTO. THE DEMOCRATS HAVE COME UP WITH A
00:09:13MANIFESTO. THAT'S THEIR LABEL FOR IT, NOT MINE. THEIR LABEL,
00:09:16THE DEMOCRATS, THE MANIFESTO.
00:09:20AND I SEE IT AS A ROADMAP TO DESTROY AMERICA FROM PEOPLE THAT
00:09:23HATE AMERICA. WHEN YOU LISTEN TO
00:09:24MANY OF THEIR CANDIDATES, IT
00:09:28CERTAINLY DOESN'T SEEM LIKE THE
00:09:30THING THAT MOST AMERICANS WOULD
00:09:32WANT TO SEE IN THEIR FUTURE.
00:09:35THESE PEOPLE, IN THEIR MANIFESTO
00:09:37ARE RADICAL. IT'S EXTREME. IT'S DANGEROUS. IT'S SCARY. THAT'S
00:09:40WHAT OUR NATION IS FACING TODAY.
00:09:44THE DEMOCRATS, EVERY ONE OF THEM, WANTS TO RAISE TAXES ON
00:09:46AMERICAN FAMILIES. THE DEMOCRAT
00:09:49MANTRA CALLS FOR OPENING THE
00:09:52BORDERS. THEIR MANIFESTO WANTS TO DEFUND THE POLICE. THE
00:09:55MANIFESTO WANTS TO ABOLISH PRISONS. THE MANIFESTO WANTS TO
00:09:58RELEASE CONVICTED CRIMINALS INTO OUR COMMUNITIES ALL ACROSS THE
00:10:01COUNTRY THE DEMOCRAT MANIFESTO
00:10:05WANTS TO ELIMINATE IMMIGRATION,
00:10:08CUSTOMS ENFORCEMENT UNDER THE
00:10:11EXTREME DEMOCRAT MANIFESTO, THE AMERICAN PEOPLE WOULD BE FORCED
00:10:13TO PAY MORE, EARN LESS AND BE
00:10:18LESS SAFE AND SECURE. THAT'S WHAT WE'RE FACING NOW, MR.
00:10:21PRESIDENT, DEMOCRATS HAVE TURNED IN FROM A PARTY OF THE
00:10:24EXTREMISTS NOW TO A PARTY OF RADICALS. REPUBLICANS ARE GOING
00:10:28TO CONTINUE TO BE THE PARTY OF RESULTS THAT IS THE CHOICE
00:10:32PEOPLE ARE FACING. WHAT DO YOU
00:10:35WANT? RESULTS. SAFETY, SECURITY,
00:10:39PROSPERITY. RADICALS. OPENING
00:10:42THE PRISONS, OPENING THE BORDERS, RAISING YOUR TAXES. MR.
00:10:46PRESIDENT, REPUBLICANS HAVE WORKED FIERCELY TO MAKE AMERICA SAFER, STRONGER, AND MORE
00:10:50PROSPEROUS. REPUBLICANS ARE GOING TO CONTINUE TO FIGHT FOR
00:10:54FREEDOM, FOR LIBERTY, AND A
00:10:55CONTINUATION OF AMERICAN
00:10:58GREATNESS. BECAUSE THAT'S THE FUTURE THAT I BELIEVE THE
00:11:01AMERICAN PEOPLE WANT AND DESERVE.
00:11:04>> SO ON THE TRUMP BATTLESHIPS,
00:11:08WHILE AMERICAN FAMILIES CAN'T EVEN KEEP THEIR HEADS ABOVE
00:11:12WATER, DONALD TRUMP IS SPENDING
00:11:15HIS TIME BUILDING HIMSELF A
00:11:20GOLDEN FLEET OF BATTLESHIPS. THE NAVY DOESN'T WANT. JUST GET A
00:11:22LOAD OF THIS HEADLINE COST OF
00:11:25TRUMP'S NAMESAKE WARSHIPS
00:11:28LIKELY TO RISE BY 50% OR MORE.
00:11:30COSTS TO RISE BY 50% OR MORE. AS
00:11:33THE ARTICLE IN THE NEW YORK TIMES SAYS, HIS GOAL OF BUILDING
00:11:37A GOLDEN FLEET OF 15 BATTLESHIPS
00:11:41COULD COST 275 BILLION. FRANKLY, WHEN AMERICANS HEAR THIS, THEY
00:11:45HAVE NO IDEA WHETHER THEY NEED THE BATTLESHIPS THEY KNOW. THE
00:11:49ONLY THING TRUMP CARES ABOUT IS HAVING HIS NAME ON THINGS. SO
00:11:52THE FACT THAT THERE'S A FLEET OF TRUMP BATTLESHIPS COST DOESN'T MEAN ANYTHING. NECESSITY
00:11:56DOESN'T MEAN ANYTHING. THAT PEOPLE ARE SUFFERING AND NEED
00:11:59HELP FEEDING THEIR FAMILIES, PAYING THEIR ELECTRIC BILLS,
00:12:03PAYING THE COST OF GASOLINE MEANS NOTHING TO HIM. HAVING HIS
00:12:06NAME ON A BUNCH OF BATTLESHIPS,
00:12:09EXPENSIVE BATTLESHIPS IS ALL HE
00:12:12CARES ABOUT. TRUMP COULDN'T
00:12:15HANDLE RENOVATING A REFLECTING
00:12:18POOL OR BUILDING A BALLROOM. NOW HE THINKS HE'S READY TO DESIGN
00:12:21AND CONSTRUCT. 15 TRUMP CLASS. I
00:12:24MEAN, THIS GUY, HE KNOWS NO
00:12:27LIMITS. TRUMP CLASS BATTLESHIPS
00:12:29THAT WILL COST MORE THAN A QUARTER OF A TRILLION TAXPAYER
00:12:33DOLLARS, A QUARTER OF $1
00:12:35TRILLION. HE'S HAD A LOT OF
00:12:38VANITY PROJECTS. THEY'VE BEEN
00:12:41VERY EXPENSIVE. THIS IS THE MOST COSTLY VANITY PROJECT YET. THE
00:12:45NAVY NEVER WANTED THESE SHIPS.
00:12:48THE AMERICAN PEOPLE NEVER ASKED FOR THESE SHIPS. THE ONLY PERSON
00:12:51WHO WANTS THESE GOLDEN SHIPS IS
00:12:54DONALD TRUMP, SO HE CAN SLAP HIS
00:12:56NAME ON THEM. TRUMP'S
00:12:59WILLINGNESS TO DROP $275 BILLION
00:13:03ON ANOTHER VANITY PROJECT, BUT
00:13:05NOT A SINGLE PENNY TO LOWER
00:13:10COSTS FOR WORKING AMERICANS, JUST CONFOUNDS THE IMAGINATION.
00:13:13TRUMP COULD USE THE MONEY FOR
00:13:15THESE BATTLESHIPS TO OFFSET THE
00:13:18ENTIRE NEARLY TO THE ENTIRE
00:13:21NEARLY 2 TRILLION, $200 BILLION
00:13:24CUT HE MADE TO SNAP FEEDING
00:13:26HUNGRY KIDS OR CREATING AN
00:13:28UNNECESSARY CLASS OF BATTLESHIPS
00:13:31TO PUT YOUR NAME ON THEM. WHICH IS MORE IMPORTANT, AMERICA? THE
00:13:34ANSWER IS A LOT DIFFERENT THAN
00:13:36WHAT TRUMP THINKS. BUT NO, TRUMP
00:13:39IS WOULD RATHER FEED HIS OWN EGO
00:13:42THAN FEED THE AMERICAN PEOPLE. HE'D RATHER FEED HIS OWN EGO
00:13:45THAN FEED THE AMERICAN PEOPLE BY
00:13:48PUTTING HIS NAME ON $275
00:13:52BILLION, 15 BATTLESHIP OUTLAY.
00:14:00THE BALLROOM, THE REFLECTING POOL, THE ARCH, AND NOW THE
00:14:03BATTLESHIPS. THESE ARE THE REASONS WHY MORE THAN 7 IN 10
00:14:07AMERICANS THINK TRUMP IS NOT
00:14:10FOCUSING ON THE TOP ISSUES
00:14:17FACING THE COUNTRY. DONALD, THE AMERICAN PEOPLE DON'T NEED A
00:14:20FLEET OF GOLDEN TRUMP CLASS BATTLESHIPS RIGHT NOW. THEY NEED
00:14:23A LIFE RAFT ON MORTGAGE RATES.
00:14:26AS TRUMP FOCUSES ON HIS EXORBITANT VANITY PROJECTS,
00:14:30AMERICANS CAN TELL WHAT HE'S
00:14:32IGNORING, LOWERING THEIR COSTS,
00:14:34AS IF AMERICANS WEREN'T STRUGGLING ENOUGH ALREADY. THEY JUST SAW MORTGAGE RATES HIT
00:14:38THEIR HIGHEST LEVEL IN A YEAR
00:14:40BECAUSE OF TRUMP'S DISASTROUS
00:14:43WAR AND FAILED ECONOMIC AGENDA,
00:14:45TRUMP HAS TURNED THE AMERICAN
00:14:49DREAM OF OWNING A HOME INTO A
00:14:50PIPE DREAM. LET'S NOT FORGET
00:14:54WHEN TRUMP CALLED OUR BATTLESHIP OUR SORRY. LET'S NOT FORGET
00:14:57WHEN TRUMP CALLED OUR BIPARTISAN BILL TO LOWER HOUSING COSTS, A
00:15:01JOKE AND REFUSED TO SIGN IT, HE
00:15:04WAS BELITTLING THE NEED FOR
00:15:06HOUSING. THE PRESIDENT ACTS LIKE HE'S ALLERGIC TO HELPING
00:15:09AMERICANS. WHAT DOES TRUMP HAVE TO SAY TO THE MILLIONS OF
00:15:13FAMILIES JUST TRYING TO MAKE IT THROUGH THE WEEK AS THEY DROWN
00:15:17IN HIGHER GAS PRICES AND GROCERY
00:15:19BILLS? TRUMP SAID YESTERDAY THAT AMERICANS ARE LIVING, QUOTE, IN
00:15:22THE GREATEST ECONOMY WE'VE EVER
00:15:25HAD. BY FAR, THOSE WHO ARE. HIS
00:15:27WORDS IN NEVADA YESTERDAY, IN PRACTICALLY THE SAME BREATH,
00:15:31TRUMP SAID, WE MAY HAVE TO SEND
00:15:33OIL PRICES UP THE PRESIDENT'S
00:15:36LOST ANY GRIP ON REALITY. HE SAW
00:15:38IN HIS OWN WORLD OF CREATING
00:15:40MONUMENTS TO HIMSELF THAT HE'S
00:15:43FORGETTING THE AMERICAN PEOPLE
00:15:45ALL THE TIME, NOT JUST. IT'S NOT JUST HE DOESN'T THINK OF THEM
00:15:49ENOUGH. HE HARDLY THINKS OF THEM
00:15:51AT ALL. THE GREATEST ECONOMY
00:15:55WE'VE EVER HAD. TELL THAT TO THE FAMILY. THAT'S DECIDING. BETWEEN FILLING UP THEIR TANK
00:15:59AND FILLING UP THEIR FRIDGE. TELL THAT TO THE VETERAN I MET
00:16:02WHO SAID THAT HE SOMETIMES HAS TO CHOOSE BETWEEN FEEDING HIS
00:16:06CHILD AND FEEDING HIS SERVICE
00:16:07DOG. WHATEVER FANCY FANTASY WORLD TRUMP IS LIVING IN SOUNDS
00:16:11A WHOLE LOT NICER THAN THE
00:16:14ECONOMIC HARDSHIP AMERICANS ARE
00:16:16STRUGGLING WITH RIGHT NOW.
00:16:20TRUMP'S PLAYBOOK HAS ONLY ONE PAGE DENY REALITY UNTIL THE BILL
00:16:23COMES DUE, AND THEN SEND IT TO
00:16:27YOU. AMERICA. AND FINALLY, ON
00:16:29NOMINATIONS, TRUMP'S MAIN
00:16:32PRIORITY IS HIS POINTLESS VANITY PROJECTS. BUT HE HAS ANOTHER.
00:16:35PACKING OUR GOVERNMENT TO THE
00:16:37RAFTERS WITH FAR RIGHT WING
00:16:41EXTREMISTS. SENATE REPUBLICANS ARE RAMMING THROUGH A NOMINATIONS PACKAGE THAT WILL
00:16:44PUT A GRAB BAG OF CHARLATANS AND
00:16:47MAGA FOOT SOLDIERS INTO THE
00:16:49HIGHEST POSITIONS OF POWER. THE SENATE GOP KNOWS HOW ABSURD SOME
00:16:53OF THESE NOMINEES ARE, WHICH IS WHY THEY'RE TRYING TO FLOOD THE ZONE AND PUSH THEM THROUGH WITH
00:16:57A SINGLE VOTE. THEY COULDN'T WITHSTAND SUNLIGHT. THEY
00:17:01COULDN'T WITHSTAND SPOTLIGHT. THEY COULDN'T WITHSTAND THE
00:17:03SCRUTINY THAT INDIVIDUAL
00:17:07NOMINATIONS PROCESS WOULD HAVE
00:17:12DONE TO THEM. ALL THESE NOMINEES WILL HAVE DIFFERENT JOBS, BUT
00:17:15THEY SHARE THE SAME
00:17:18QUALIFICATION. ABSOLUTE LOYALTY
00:17:20TO DONALD TRUMP, NO MATTER HOW
00:17:22RIDICULOUS HIS POLICIES ARE. THE AMERICAN PEOPLE EXPECT MORE FROM
00:17:26THEIR GOVERNMENT THAN JUST BLIND
00:17:28LOYALTY TO DONALD TRUMP. I YIELD
00:17:32THE FLOOR AND NOTE THE ABSENCE
00:17:36OF A QUORUM. >> I RISE TODAY TO SPEAK ABOUT A BROKEN PROMISE, A PROMISE THAT
00:17:40THE PRESIDENT MADE TO THE COUNTRY WHEN HE TOOK OFFICE.
00:17:44TIME AND AGAIN, THE PRESIDENT PROMISED THAT, QUOTE, STARTING
00:17:47ON DAY ONE, CLOSE QUOTE OF HIS
00:17:50ADMINISTRATION, HE WOULD END
00:17:53INFLATION. HIS WORDS, A YEAR AND
00:17:57A HALF INTO HIS TERM, IT IS CLEAR THAT THE PRESIDENT NOT
00:18:00ONLY HAS BROKEN HIS WORD, BUT THAT HE DISDAINS THE VERY NOTION
00:18:04THAT HE SHOULD EVEN TRY TO MAKE
00:18:06GOOD ON HIS PLEDGE. NOW, FOR THE
00:18:09VAST MAJORITY OF AMERICANS OF
00:18:11ALL AGES AND WALKS OF LIFE, OF
00:18:16ALL POLITICAL STRIPES, COSTS AREN'T A PARTISAN THING, AND IT IS SIMPLY CLEAR IT COSTS MORE TO
00:18:20BE AN AMERICAN. WITH DONALD
00:18:21TRUMP AS PRESIDENT. PART OF WHY
00:18:24I'M SPEAKING TODAY IS BECAUSE,
00:18:28AS A NEW JOINT ECONOMIC COMMITTEE, MINORITY REPORT
00:18:31DETAILS, AMERICAN LIFE HAS BECOME MORE EXPENSIVE UNDER THIS
00:18:35ADMINISTRATION. AS OF JUNE, IN MY HOME STATE OF NEW HAMPSHIRE,
00:18:39THE AVERAGE GRANITE STATE FAMILY
00:18:41HAS HAD TO PAY AN ADDITIONAL
00:18:45$4,400 FOR GOODS AND SERVICES SINCE PRESIDENT TRUMP TOOK
00:18:49OFFICE. THIS TOLL IS EXACTED
00:18:51FROM VIRTUALLY EVERY PART OF
00:18:55EVERYDAY LIFE IN DONALD TRUMP'S
00:18:57AMERICA. WHEN A PERSON WAKES UP
00:19:00AND STARTS THEIR DAY, THEY NOW DRINK COFFEE. THAT COSTS AROUND
00:19:04$10 A POUND, A 25% INCREASE
00:19:06SINCE THE PRESIDENT LAUNCHED
00:19:10SENSELESS TRADE WARS LAUNCHED WITHOUT THE SUPPORT OF THE
00:19:13AMERICAN PEOPLE. AFTER THEY FINISHED THEIR COFFEE AND DRIVE TO WORK, OR TO DROP THEIR
00:19:17CHILDREN OFF AT SCHOOL, THEY DO SO IN A CAR THAT NOW COSTS MORE
00:19:21TO FILL UP EVERY TIME THEY STOP
00:19:23AT THE PUMP. EACH GRANITE STATE
00:19:25FAMILY HAS SPENT $596 MORE ON
00:19:31GAS. IN FACT, SINCE PRESIDENT TRUMP LAUNCHED HIS RECKLESS, ILLEGAL WAR AGAINST IRAN, A WAR
00:19:35HE LAUNCHED WITHOUT A PLAN TO
00:19:39WIN. NOW, LET'S SAY OUR TYPICAL AMERICAN HAS A DOCTOR'S APPOINTMENT THAT DAY. ASSUMING
00:19:43THAT THEY ARE ABLE TO AFFORD HEALTH INSURANCE, THEY WILL
00:19:46RECEIVE CARE COVERED BY A PLAN
00:19:48WHOSE PREMIUMS ROSE AS MUCH AS
00:19:5350% UNDER PRESIDENT TRUMP. WHY? BECAUSE THE PRESIDENT LET
00:19:56AFFORDABLE CARE ACT INSURANCE PREMIUMS SURGE. AND AT THE END
00:20:00OF THE DAY, THE AVERAGE GRANITE
00:20:03STATER RETURNS TO A HOUSE OR APARTMENT THAT IS ALSO MORE
00:20:06EXPENSIVE. AS FAMILIES IN OUR
00:20:08STATE HAVE SO FAR SPENT $1,100,
00:20:13$1,108 MORE ON RENT OR MORTGAGE
00:20:16PAYMENTS. SINCE PRESIDENT TRUMP
00:20:18STARTED HIS TERM, ALL BECAUSE
00:20:20THE PRESIDENT REFUSES TO ADDRESS
00:20:25OUR COUNTRY'S HOUSING CRISIS. AND AFTER MY CONSTITUENT GETS HOME AND GOES TO PICK UP HER
00:20:27MAIL, SHE OPENS ANOTHER ELECTRIC
00:20:30BILL. ELECTRICITY HAS GOTTEN SO
00:20:33EXPENSIVE THAT PEOPLE IN NEW HAMPSHIRE HAVE HAD TO PAY $194
00:20:37MORE SO FAR THIS YEAR THAN LAST
00:20:39YEAR, BECAUSE THE PRESIDENT
00:20:42CAUSED A WORLDWIDE ENERGY CRISIS
00:20:44AND CANCELED CLEAN ENERGY PROJECTS. NEXT ON THE LIST, MY
00:20:47CONSTITUENT GOES INTO THE KITCHEN TO MAKE DINNER, WHERE,
00:20:49YOU GUESSED IT, THE INGREDIENTS
00:20:52COST MORE THAN THEY DID BEFORE
00:20:53TRUMP TOOK OFFICE. GRANITE
00:20:56STATERS PAID $310 MORE FOR GROCERIES LAST YEAR THAN THEY
00:21:00DID THE YEAR BEFORE. SO WHAT HAS
00:21:02BEEN THE COST OF THE TRUMP
00:21:04PRESIDENCY? A PRESIDENCY WHERE
00:21:07FOOD, HEALTH CARE, GAS, RENT AND
00:21:09MORE HAVE ALL BECOME MORE EXPENSIVE? THE COST CAN BE
00:21:12SUMMED UP BY THE FIGURES IN THIS
00:21:14REPORT, BUT IT CAN ALSO BE, PUT
00:21:18MORE SIMPLY FOR MANY IN OUR COUNTRY, THE COST HAS BEEN
00:21:21NOTHING LESS THAN SEEING THEIR
00:21:24CHANCE AT THE AMERICAN DREAM
00:21:26FADE BEFORE THEIR VERY EYES. A
00:21:30YEAR AND A HALF INTO HIS PRESIDENCY, MY REPUBLICAN
00:21:33COLLEAGUES ARE MAKING EXCUSE AFTER EXCUSE FOR THE
00:21:37PRESIDENT'S FAILURE TO ADDRESS THE AMERICAN PEOPLE'S BASIC
00:21:40NEEDS. THEY NEED TO STOP. STOP
00:21:43TRYING TO ADVANCE THE FICTION
00:21:46THAT THE PRESIDENT CARES ABOUT. LOWERING COSTS, OR PERHAPS IS
00:21:49TRYING TO LOWER COSTS, BUT IS
00:21:51GETTING SOME BAD COUNSEL FROM
00:21:54HIS ADVISERS. IF THE PRESIDENT ACTUALLY WANTED TO HELP THE AMERICAN PEOPLE, HE WOULD LISTEN
00:21:57TO THEM. HE WOULD HEAR THAT THIS
00:22:00ECONOMY ISN'T WORKING FOR THEM. AND FOR SOME, WELL, IT IS
00:22:04BREAKING THEM. IF HE CARED, THIS
00:22:07MAN WHO IS SUPPOSED TO UNDERSTAND THE ECONOMY, AS WELL
00:22:10AS THE HOPES AND DREAMS OF THE AMERICAN PEOPLE, WOULD
00:22:13ACKNOWLEDGE THAT HE NEEDS TO TAKE ACTION TO LOWER COSTS. AND
00:22:17EVEN IF HE DOESN'T CARE, IF THIS PRESIDENT BELIEVED THAT IN
00:22:20AMERICA, PRESIDENTS ARE ACCOUNTABLE TO THE AMERICAN
00:22:24PEOPLE, HE'D BE WORKING TO MAKE
00:22:27LIFE MORE AFFORDABLE. BUT THIS
00:22:29PRESIDENT NEITHER CARES NOR THINKS HE IS ACCOUNTABLE TO
00:22:32ANYONE OTHER THAN HIMSELF, AND
00:22:35PERHAPS HIS BILLIONAIRE BACKERS.
00:22:37JUST CONSIDER HE HAS ATTACKED AND DISMISSED ANYONE WHO SAYS
00:22:40THAT THERE IS A PROBLEM AT ALL.
00:22:44HE'S CALLED INFLATION A HOAX AND DISMISSED THE COST OF LIVING
00:22:48CRISIS AS HIS WORDS MADE UP. HE
00:22:52SAYS THIS DESPITE THE FACT THAT
00:22:54VIRTUALLY EVERY AMERICAN OF EVERY POLITICAL PERSPECTIVE, AT
00:22:57LEAST THOSE WHO LIVE OUTSIDE THE SPLENDOR OF MAR-A-LAGO, KNOW
00:23:00THAT AMERICAN LIFE HAS BECOME
00:23:02MORE EXPENSIVE UNDER PRESIDENT
00:23:06TRUMP. SO WHEN THE AMERICAN PEOPLE SAY THAT THEIR COSTS HAVE
00:23:09GONE UP AND THE PRESIDENT
00:23:11DISMISSES INFLATION AS A HOAX, IS HE SAYING THAT AMERICAN
00:23:15FAMILIES ARE LYING? IS HE SUGGESTING THAT THEY SHOULD NOT
00:23:18BELIEVE THEIR OWN EYES, THEIR OWN UNDERSTANDING OF MATH? WHEN
00:23:22THEY LOOK AT THE NUMBERS AT THE
00:23:24CASH REGISTER OR THE GAS PUMP?
00:23:27BECAUSE IT'S ONE THING NOT TO
00:23:29SOLVE A PROBLEM FOR AMERICAN
00:23:31FAMILIES. IT'S QUITE ANOTHER TO
00:23:34ESSENTIALLY SAY THAT THE
00:23:36AMERICAN PEOPLE ARE LYING. WHAT HAVE AMERICAN FAMILIES DONE?
00:23:40WHAT HAVE THE PEOPLE WHO GAVE THE PRESIDENT THE PRIVILEGE OF
00:23:44SERVING IN THE HIGHEST OFFICE IN OUR COUNTRY, DONE TO HAVE THEIR
00:23:47BIGGEST CHALLENGE, THEIR GREATEST ANXIETY AND FEAR,
00:23:50DISMISSED BY THE PRESIDENT AS A
00:23:55HOAX? AND SHOULD WE BE SURPRISED
00:23:58THAT A PRESIDENT WHO INCITED A MOB TO STORM THE CAPITOL AND TRY
00:24:01TO OVERTURN THE VOICES AND VOTES OF THE AMERICAN PEOPLE,
00:24:05DISMISSES, YET AGAIN WHAT THEY
00:24:06HAVE TO SAY? MAYBE THE PRESIDENT
00:24:10WOULD BE MORE INCLINED TO HELP
00:24:14THE AMERICAN PEOPLE IF THEY WERE A LITTLE LESS DECENT AND A LOT BETTER CONNECTED. AFTER ALL,
00:24:17THIS IS PRESIDENT TRUMP'S
00:24:19WASHINGTON, AND WE KNOW WELL WHO THIS PRESIDENT IS. HE WILL SAVE
00:24:22ONE OF HIS CORRUPT CAMPAIGN
00:24:25DONORS ASKING FOR A PARDON, BUT
00:24:28HE WON'T LIFT A FINGER TO SAVE
00:24:30AMERICAN FAMILIES A DIME ON
00:24:33THEIR GROCERIES. AND SO I RETURN
00:24:35TO THE PRESIDENT'S PROMISE WHEN HE SOUGHT OUR COUNTRY'S HIGHEST
00:24:39OFFICE. YET AGAIN, DONALD TRUMP
00:24:41TOLD THE AMERICAN PEOPLE TO PUT
00:24:45ASIDE HIS CORRUPTION, HIS SELF-DEALING, HIS POOR CHARACTER, HIS WILLINGNESS TO
00:24:49FAN THE FLAMES OF DIVISION AND
00:24:51EXTREMISM TO FORGET THE WAY HE
00:24:56DISRESPECTS OUR VETERANS. HE WANTED US TO EVEN FORGET THE
00:24:58ATTACK ON THIS CHAMBER, TO FORGET THE SCARS OF THE CAPITOL
00:25:02POLICE OFFICERS, FORGET ALL OF
00:25:03THIS AND MORE, BECAUSE HE SAID
00:25:07HE WOULD BRING DOWN COSTS. AND
00:25:12NOW HE IS DISMISSIVE AND CONTEMPTUOUS OF ANYONE WHO ASKS
00:25:16HIM TO MAKE GOOD ON HIS PLEDGE.
00:25:19HE EVEN UNDERMINES MY REPUBLICAN COLLEAGUES WHEN THEY DO TRY, IN
00:25:23GOOD FAITH TO LOWER COSTS. HE
00:25:26ACTUALLY THREATENED TO BLOCK A BIPARTISAN BILL TO BRING DOWN
00:25:29THE COST OF HOUSING, A LAW THAT
00:25:30WE WERE EVENTUALLY ABLE TO PASS.
00:25:35NOW, DONALD TRUMP HAS MADE HIMSELF VERY, VERY CLEAR. HIS
00:25:39PRESIDENCY WILL BE DEFINED NOT
00:25:40BY LOWERING COSTS FOR FAMILIES,
00:25:44BUT BY RAISING MONUMENTS TO
00:25:47HIMSELF. IT DOESN'T HAVE TO BE
00:25:50THIS WAY. THE AMERICAN PEOPLE RIGHT NOW WANT AN AMERICAN DREAM
00:25:53THAT THEY CAN AFFORD A DREAM THAT DOESN'T BELONG JUST TO A
00:25:56PRIVILEGED FEW, A DREAM THAT'S BIGGER THAN SELF-DEALING,
00:26:00KICKBACKS, AND SELF-ENRICHMENT
00:26:03SCHEMES IN THE GILDED ROOMS OF
00:26:06MAR-A-LAGO. THE DREAMS OF THE AMERICAN PEOPLE AREN'T FOCUSED
00:26:09ON GOLDEN LUXURY TRAPPINGS. THEIR DREAMS ARE LESS GILDED
00:26:13THAN ALL OF THAT, BUT THEY ARE
00:26:15ALSO FAR MORE NOBLE AMERICANS
00:26:18WANT THEIR CHILDREN TO LIVE BETTER LIVES THAN THEY DID WITH
00:26:22QUALITY, AFFORDABLE HEALTH CARE THAT CAN HELP THEM REST EASIER
00:26:25AT NIGHT. A DECENT EDUCATION FOR
00:26:28THEIR CHILDREN, A PLACE TO BUILD, NOT A GILDED BALLROOM,
00:26:32BUT A HOME. A HOME IN A COUNTRY
00:26:35WHERE WE DON'T LIVE FEARING ONE
00:26:38ANOTHER. DIVIDED OVER POLITICS, BUT INSTEAD UNITED AS FREEDOM
00:26:40LOVING AMERICANS WHO KNOW THAT WE'RE LUCKY TO LIVE IN THE
00:26:44GREATEST COUNTRY ON EARTH, WHO
00:26:46LOVE THIS COUNTRY TOO MUCH TO
00:26:48EVER HATE OUR FELLOW AMERICANS,
00:26:51AND WHO WON'T LET THE MIRACLE OF SELF-GOVERNMENT DIE. NOT IN
00:26:54THE SERVICE OF ONE MAN'S EGO,
00:26:56NOT FOR ANYTHING. THE AMERICAN
00:27:00PEOPLE WANT AN AMERICA THAT IS
00:27:02AS GOOD AS THIS NATION'S PROMISE. THEY DESERVE A
00:27:05PRESIDENT WHOSE WORD IS AS GOOD
00:27:07AS OUR PEOPLE.
00:27:10>> I RISE TODAY TO SPEAK ABOUT
00:27:14THE CRITICAL NEED FOR DISASTER RELIEF IN MY HOME STATE OF TEXAS. FOR A TEXAS COMMUNITY
00:27:17THAT WAS DEVASTATED BY HISTORIC
00:27:22WILDFIRES, I WILL SEEK TO IMPROVE THE PENDING DISASTER TAX
00:27:25RELIEF ACT BEING CONSIDERED BY
00:27:27THE SENATE TO ADDRESS THAT ACUTE
00:27:30NEED IN TEXAS. NO DOUBT THE
00:27:35CURRENT VERSION PROVIDES RELIEF THAT IS ALSO BADLY NEEDED
00:27:38ELSEWHERE. I WOULD LIKE TO SPEAK DIRECTLY TO THE FAMILIES OF
00:27:41SPOKANE, WASHINGTON, WHO HAVE LOST THEIR HOMES, THEIR
00:27:43LIVELIHOODS, THEIR SENSE OF SECURITY. THE PEOPLE OF TEXAS
00:27:47STAND WITH YOU, AND WE ARE
00:27:51PROFOUNDLY GRATEFUL TO THE FIREFIGHTERS AND FIRST
00:27:53RESPONDERS RISKING THEIR LIVES TO PROTECT THEIR NEIGHBORS. THAT
00:27:57IS A PAIN. FAMILIES IN TEXAS
00:28:00KNOW ALL TOO WELL. IN 2024,
00:28:05TEXAS WITNESSED A TRULY HORRIFIC
00:28:08WILDFIRES. THE SMOKEHOUSE CREEK
00:28:12FIRE WAS THE SINGLE LARGEST WILDFIRE IN THE HISTORY OF THE
00:28:14STATE OF TEXAS. IT KILLED TWO
00:28:19PEOPLE. IT BURNED MORE THAN 1
00:28:22MILLION ACRES. IT DESTROYED MORE
00:28:24THAN 500 HOMES AND BUSINESSES.
00:28:26AND IT KILLED APPROXIMATELY
00:28:2915000 CATTLE. THE WINDY DEUCE
00:28:32FIRE WAS AMONG THE MOST
00:28:34DESTRUCTIVE AND FAST MOVING
00:28:36WILDFIRES EVER TO STRIKE THE
00:28:38TEXAS PANHANDLE. IT BURNED MORE
00:28:44THAN 140,000 ACRES, DESPITE THE
00:28:48HORROR AND THE DESTRUCTIVENESS OF THESE FIRES, THEY WERE NOT
00:28:52TREATED AS QUALIFIED. WILDFIRE
00:28:54DISASTERS. UNDER FEDERAL LAW ONE
00:28:58RESULT IS THAT ANY RELIEF
00:29:00PAYMENTS ARE SUBJECT TO FEDERAL
00:29:02INCOME TAXES, WHICH DRAMATICALLY REDUCES THE SCOPE AND
00:29:05EFFECTIVENESS OF THE BADLY
00:29:06NEEDED RELIEF VICTIMS OF OTHER
00:29:11CATASTROPHIC WILDFIRES DO NOT INCUR SUCH PENALTIES ON THE
00:29:14RELIEF THEY RECEIVE. DISASTER
00:29:19RELIEF IS IMPORTANT. I AM PROUD TO SUPPORT DISASTER RELIEF.
00:29:22AMERICANS STEP IN AND HELP THEIR
00:29:25FELLOW AMERICANS IN TIMES OF
00:29:27CRISIS, BUT DISASTER RELIEF MUST
00:29:30BE FAIR. DISASTER RELIEF CANNOT
00:29:37DEMONSTRATE FAVORITISM. CHOOSING
00:29:41SOME RECIPIENTS AS MORE WORTHY
00:29:43OR LUCKIER THAN OTHERS. MY
00:29:46AMENDMENT DOES SOMETHING VERY
00:29:49SIMPLE. IT INCLUDES, IN THIS
00:29:54DISASTER RELIEF BILL, THE WORST
00:29:56WILDFIRE IN THE HISTORY OF THE
00:30:00STATE OF TEXAS ON ANY REASONABLE
00:30:03ARGUMENT ON THE MERITS, THE
00:30:06TEXAS PANHANDLE WILDFIRES
00:30:10DESERVE TO BE INCLUDED I WOULD
00:30:14NOTE ALSO THAT THE SCORE OF THIS
00:30:18PROVISION IS, IN CONGRESSIONAL
00:30:19TERMS, QUITE SMALL. $31 MILLION
00:30:24IS WHAT THIS ADDITION COSTS IN
00:30:29THIS BODY. $31 MILLION IS A SUM THAT IS USUALLY TOO SMALL EVEN
00:30:33TO BE WRITTEN DOWN MOREOVER, THE
00:30:37HOUSE OF REPRESENTATIVES, AND IN PARTICULAR, THE CHAIRMAN OF THE
00:30:39WAYS AND MEANS COMMITTEE, IS
00:30:42EXPLICITLY COMMITTED THAT IF AND WHEN WE ADD THIS PROVISION TO
00:30:45THE DISASTER BILL, THAT THE HOUSE IN SEPTEMBER, WHEN THEY
00:30:48RETURN, WILL TAKE IT UP AND PASS
00:30:52IT. SO THIS IS THE PATH, NUMBER
00:30:55ONE, TO PASSING THIS DISASTER BILL, WHICH I VERY MUCH WANT TO
00:30:58DO. BUT NUMBER TWO, TO DOING SO
00:31:01IN A WAY THAT DOES NOT UNFAIRLY
00:31:04LEAVE OUT THE TEXANS, THE
00:31:06VICTIMS OF THE LARGEST WILDFIRE
00:31:09IN THE HISTORY OF TEXAS. WE'VE
00:31:13GOT TO DO BOTH. AND SO I WILL NOW PROPOUND A UNANIMOUS CONSENT
00:31:16REQUEST TO TAKE UP AND PASS MY
00:31:19AMENDMENT TO THE DOUG LAMALFA FEDERAL DISASTER RELIEF TAX ACT,
00:31:23TO DESIGNATE THE SMOKEHOUSE CREEK FIRE AND THE WINDY DEUCE FIRE AS QUALIFIED WILDFIRE
00:31:27DISASTERS, ENSURING THAT RELIEF
00:31:29PAYMENTS TO THOSE AFFECTED
00:31:31RECEIVE THE SAME FEDERAL TAX
00:31:34TREATMENT AS VICTIMS OF OTHER
00:31:36QUALIFYING WILDFIRES. I URGE MY COLLEAGUES TO PASS THIS COMMON
00:31:40SENSE AMENDMENT TODAY SO THAT
00:31:42TEXANS RECEIVE THE SAME TREATMENT AS OTHER VICTIMS OF
00:31:45WILDFIRES, AND I WOULD NOTE THAT
00:31:47IF MY COLLEAGUES CHOOSE NOT TO
00:31:51ACCEPT THE AMENDMENT, THE ALTERNATIVE IS GOING TO BE THAT
00:31:55NOTHING PASSES. THAT'S NOT AN ALTERNATIVE THAT IS GOOD FOR
00:31:59ANYBODY. AND SO MY HOPE IS THAT
00:32:01COMMON SENSE WILL PREVAIL MR.
00:32:06PRESIDENT, AS IF IN LEGISLATIVE
00:32:09SESSION AND NOTWITHSTANDING RULE 22, I ASK UNANIMOUS CONSENT THAT
00:32:12THE FINANCE COMMITTEE BE DISCHARGED FROM FURTHER
00:32:15CONSIDERATION OF H.R. 5366 AND
00:32:19THE SENATE PROCEED TO ITS IMMEDIATE CONSIDERATION. I FURTHER ASK THAT THE CRUZ
00:32:23AMENDMENT AT THE DESK BE CONSIDERED, AND AGREED TO THE
00:32:26BILL, AS AMENDED, BE CONSIDERED, READ A THIRD TIME AND PASSED,
00:32:30AND THAT THE MOTIONS TO RECONSIDER, BE CONSIDERED, MADE
00:32:33AND LAID UPON THE TABLE. >> IS THERE OBJECTION? >> RESERVING THE RIGHT TO
00:32:36OBJECT. >> SENATOR MORGAN?
00:32:38>> MR. PRESIDENT, EARLIER THIS
00:32:40WEEK, MY HOME STATE SET A NEW
00:32:42DEVASTATING RECORD. OVER 2
00:32:45MILLION ACRES IN OREGON HAVE
00:32:47BURNED IN WILDFIRES ACROSS OUR
00:32:49STATE THIS SUMMER. THAT'S THE
00:32:51MOST IN RECORDED HISTORY, WITH
00:32:55TWO MORE MONTHS OF FIRE SEASON
00:32:57TO GO. THOUSANDS OF OREGONIANS HAVE BEEN UNDER EVACUATION
00:33:01ORDERS OR ARE PREPARING TO BE. OUR WHOLE STATE IS BLANKETED IN
00:33:04THICK SMOKE, MAKING FOR SOME OF
00:33:07THE WORST AIR QUALITY IN THE WORLD. MANY HAVE LOST THEIR
00:33:11HOMES, THEIR LIVESTOCK, THEIR BUSINESSES AND LIVELIHOODS. WHEN
00:33:14YOU LOSE YOUR HOME IN A WILDFIRE, THE LAST THING YOU
00:33:17SHOULD BE WORRIED ABOUT IS BEING
00:33:19HIT BY A MASSIVE TAX BILL. THE
00:33:22BIPARTISAN DISASTER RELIEF BILL BEING CONSIDERED ON THE FLOOR
00:33:25TODAY WOULD GIVE THE PEOPLE OF
00:33:27MY STATE AFFECTED BY THESE
00:33:30BLAZES SOME PEACE OF MIND. IT WOULD LIFT A MASSIVE TAX BURDEN
00:33:34AND DELIVER FINANCIAL RELIEF TO
00:33:36EVERY AMERICAN IMPACTED BY A
00:33:38FEDERALLY DECLARED NATURAL DISASTER. IT'S GOING TO GET RID
00:33:41OF A TOTALLY UNFAIR TAX ON
00:33:44SETTLEMENT PAYMENTS AND ENSURE
00:33:46DISASTER VICTIMS CAN DEDUCT
00:33:48LOSSES AFTER DISASTERS. THIS IS
00:33:50AN ISSUE THE REPUBLICANS CREATED
00:33:53UNDER DONALD TRUMP IN 2017. BUT
00:33:56SENATOR CRUZ'S AMENDMENT WOULD
00:33:59DERAIL A BIPARTISAN PROPOSAL
00:34:02ENTIRELY. HIS AMENDMENT THREATENS THE LIFELINE
00:34:05ASSISTANCE IN THIS BILL FOR AMERICANS THAT LOSE THEIR HOME
00:34:08DURING A NATURAL DISASTER. THE
00:34:10SENATOR FROM TEXAS HAS
00:34:13REPEATEDLY OPPOSED FUNDING FOR
00:34:15FEDERALLY DECLARED DISASTERS LIKE HURRICANE SANDY. NOW HE
00:34:19COMES TO THE FLOOR TO HOLD A
00:34:22BILL HOSTAGE IN ORDER TO SEND MONEY TO HIS ESTATE FOR HIS OWN
00:34:25PRIORITIES. WHILE DONALD TRUMP HOLDS UP DISASTER FUNDING FOR
00:34:29OREGON WILDFIRE VICTIMS. THE HOUSE HAS ALREADY PASSED THIS
00:34:32BILL THAT WAS NEGOTIATED ON A
00:34:35BIPARTISAN BASIS. NOW, THE SENATE MUST DO ITS JOB. AND
00:34:38THAT'S WHY I'M OFFERING UP THIS VERSION OF THE LEGISLATION THAT
00:34:42HAS ALREADY PASSED THROUGH THE HOUSE. SO, MR. PRESIDENT,
00:34:45THEREFORE, I ASK THE SENATOR TO MODIFY HIS REQUEST SO THAT THE
00:34:49FINANCE COMMITTEE BE DISCHARGED FROM FURTHER CONSIDERATION OF
00:34:53H.R. FIVE THREE, SIX SIX IN THE
00:34:54SENATE, PROCEED TO ITS IMMEDIATE CONSIDERATION. FURTHER, THAT THE
00:34:58BILL BE CONSIDERED, READ A THIRD TIME AND PASSED, AND THAT THE
00:35:01MOTION TO RECONSIDER, BE CONSIDERED, MADE AND LAID UPON
00:35:04THE TABLE. >> IS THERE OBJECTION TO THE
00:35:07MODIFICATION. >> RESERVING THE RIGHT TO
00:35:09OBJECT. >> SENATOR OF TEXAS.
00:35:12>> I WOULD NOTE THAT I AGREE WITH VIRTUALLY EVERY WORD THAT
00:35:16WAS SAID FROM THE SENATOR FROM OREGON. I AGREE THAT THIS TAX
00:35:20TREATMENT. TAXING SOMEONE ON A DISASTER RELIEF ON A SETTLEMENT
00:35:24FROM, SAY, THE POWER COMPANY
00:35:25THAT CAUSED THE FIRE DEPARTMENT
00:35:30GIVING SOMEONE A BIG TAX BILL FOR THAT RELIEF, THAT THEY ARE
00:35:31ENTITLED TO. IT IS UNFAIR. IT IS
00:35:34WRONG. I AM ENTHUSIASTIC ABOUT
00:35:37PASSING THIS BILL AND PASSING IT
00:35:41NOW. WHAT I'M NOT ENTHUSIASTIC
00:35:44ABOUT IS LEAVING THOUSANDS OF
00:35:46TEXANS OUT BECAUSE JUST LIKE THE
00:35:49CITIZENS OF OREGON, WHO SUFFERED DEVASTATING LOSSES, JUST LIKE
00:35:53THE CITIZENS OF CALIFORNIA, JUST LIKE THE CITIZENS OF WASHINGTON
00:35:57STATE, WHO SUFFERED DEVASTATING LOSSES, THERE WERE ALSO
00:36:00THOUSANDS UPON THOUSANDS OF TEXANS WHO SUFFERED, SUFFERED
00:36:04DEVASTATING LOSSES. AND MY PROPOSAL IS VERY SIMPLE. LET'S
00:36:06BE FAIR. LET'S NOT EXCLUDE THE
00:36:09TEXANS LET'S PROVIDE THE RELIEF
00:36:13THAT IS RIGHT. AND JUST TO
00:36:16EVERYONE WHO HAS BEEN IMPACTED BY THESE DEVASTATING WILDFIRES.
00:36:20I WILL POINT OUT ALSO, THE SENATOR FROM OREGON SAID
00:36:24THERE'S AN URGENCY TO PASS
00:36:26THIS. I WANT YOU TO UNDERSTAND THAT EVERYONE WATCHING, THERE
00:36:29ARE TWO PATHS THAT WE CAN GO
00:36:33DOWN. ONE PATH IS WHEN I DECLINE
00:36:36TO MAKE THIS MODIFICATION. THE
00:36:38SENATOR FROM OREGON COULD SAY
00:36:40NOTHING, COULD JUST BE QUIET.
00:36:44AND THEN THE PRESIDING OFFICER WOULD SAY, NO OBJECTION IS
00:36:47HEARD. AND THIS BILL WOULD PASS
00:36:50THE SENATE WITH TEXANS >> INCLUDED. SO IT WOULD BE FAIR. IT WOULD NOT BE EXCLUDING
00:36:54PEOPLE WHO ARE SIMILARLY SITUATED. IT WOULD BE TREATING
00:36:57EVERYONE FAIRLY, AND IT WOULD GO TO THE HOUSE. THE HOUSE WILL BE
00:37:00BACK IN SEPTEMBER, AND WE HAVE A COMMITMENT FROM THE CHAIRMAN OF
00:37:04THE WAYS AND MEANS COMMITTEE, THE COMMITTEE THAT HAS JURISDICTION OVER THIS, TO TAKE
00:37:08THIS UP AND PASS IT. SO IF THE SENATOR FROM OREGON CHOOSES
00:37:11SIMPLY TO SAY NOTHING, THIS BILL
00:37:13MOVES ON ITS WAY, AND IT IS
00:37:16SUBSTANTIALLY CLOSER TO BEING
00:37:17SIGNED INTO LAW AND GIVING
00:37:21ACTUAL RELIEF TO THE VICTIMS OF THESE WILDFIRES. HOWEVER, THE
00:37:25OTHER PATH AND FOLKS IN THE
00:37:27GALLERY SHOULD LISTEN FOR TWO
00:37:29WORDS. THE SENATOR FROM OREGON
00:37:32SAYS, I OBJECT. WHAT WILL HAPPEN
00:37:36IS THE BILL DIES. IT DOESN'T
00:37:40PASS. THE VICTIMS IN TEXAS GET NO RELIEF. THE VICTIMS IN OREGON
00:37:44GET NO RELIEF. THE VICTIMS IN CALIFORNIA GET NO RELIEF. THE
00:37:46VICTIMS IN WASHINGTON STATE GET
00:37:48NO RELIEF. I DON'T UNDERSTAND WHY THAT'S A GOOD OUTCOME. I
00:37:51THINK THAT'S A TERRIBLE OUTCOME. BUT THE SENATOR FROM
00:37:54OREGON HAS COMPLETE CONTROL OVER
00:37:56WHICH OF THOSE TWO PATHS WE GO
00:38:01DOWN. I WILL NOT MODIFY MY REQUEST
00:38:04>> OBJECTION TO THE MODIFICATION
00:38:05IS HEARD. IS THERE OBJECTION TO
00:38:08THE ORIGINAL REQUEST, SENATOR OF CALIFORNIA.
00:38:11>> THANK YOU, MR. PRESIDENT.
00:38:14COLLEAGUES, THIS DISASTER BILL,
00:38:17THIS DISASTER TAX BILL INCLUDES
00:38:19IMPORTANT BIPARTISAN LEGISLATION
00:38:21THAT I INTRODUCED WITH SENATORS LUMMIS, WYDEN AND SHEEHY TO
00:38:25EXTEND A CRITICAL TAX PROVISION
00:38:28FOR DISASTER SURVIVORS THAT WE
00:38:31ENACTED INTO LAW LAST CONGRESS
00:38:34TWO YEARS AGO. MY PROTECT
00:38:37INNOCENT VICTIMS OF TAXATION
00:38:39AFTER FIRE ACT MADE AN APPOINTMENT. AN IMPORTANT UPDATE
00:38:42TO OUR TAX CODE. IT MADE SURE
00:38:44THAT INDIVIDUALS, FAMILIES, AND
00:38:47ENTIRE COMMUNITIES WHO SUFFERED
00:38:49FROM UTILITY CAUSED WILDFIRES
00:38:52RECEIVED THE FULL COMPENSATION
00:38:54THAT THEY WERE AWARDED IN COURT
00:38:57TO REBUILD THEIR LIVES BUT
00:39:00UNFORTUNATELY, EVERY YEAR, MORE
00:39:03DEVASTATING DISASTERS TAKE
00:39:04PLACE. AND SO CONGRESS MUST
00:39:10EXTEND THE SAME IMPORTANT FINANCIAL PROTECTION TO SURVIVORS OF MORE RECENT
00:39:14WILDFIRES. THAT'S WHAT THE
00:39:15HOUSE PASSED. VERSION OF THE
00:39:20BILL WOULD DO. NOW, TO BE CLEAR, DISASTER SETTLEMENT FUNDS ARE
00:39:23NOT INCOME. THEY'RE NOT A
00:39:25FINANCIAL WINDFALL. THEY'RE CERTAINLY NOT WINNING THE
00:39:28LOTTERY. WHAT THEY ARE IS
00:39:33COMPENSATION, PARTIAL COMPENSATION IN MOST CASES, FOR
00:39:36WHAT'S BEEN LOST. THEY'RE MEANT
00:39:38TO GIVE SURVIVORS AN OPPORTUNITY
00:39:41TO BEGIN TO REBUILD, NOT JUST
00:39:42THEIR HOMES, BUT THEIR LIVES.
00:39:46AND THIS BILL IS NOT JUST FOR MY CONSTITUENTS IN CALIFORNIA THAT
00:39:50HAVE BEEN IMPACTED BY THE ETON
00:39:53AND PALISADES FIRE. A YEAR AND A
00:39:58HALF AGO. IT'S ALSO FOR THOSE VICTIMS IN OREGON AND HAWAII AND OTHER COMMUNITIES ACROSS THE
00:40:01COUNTRY THAT HAVE EXPERIENCED
00:40:04SIMILAR DISASTERS. NOW, OUR BILL
00:40:07WOULD ENSURE THAT ALL RECENT WILDFIRE VICTIMS THROUGHOUT THE COUNTRY HAVE ACCESS TO THE FULL
00:40:11VALUE OF THEIR SETTLEMENT,
00:40:12WITHOUT ANY UNFAIR TAX BURDEN.
00:40:16IT'S COMMON SENSE, AND IT'S A BIPARTISAN SOLUTION TO PROTECT
00:40:20AMERICANS AT THE MOST DIFFICULT
00:40:21TIME OF THEIR LIVES. AND SO WE
00:40:25SHOULD PASS THIS LEGISLATION. NOW. LET'S NOT KEEP SURVIVORS
00:40:29WAITING, WORRYING, AND WONDERING ABOUT THEIR FINANCIAL FUTURE ANY
00:40:33LONGER. I WANT TO THANK SENATORS LUMMIS, WYDEN, AND SHEEHY FOR
00:40:37THEIR PARTNERSHIP, AS WELL AS MY COLLEAGUE, REPRESENTATIVE MIKE
00:40:41THOMPSON, IN THE HOUSE, FOR HIS STEADFAST LEADERSHIP ON THIS
00:40:44ISSUE. I ALSO WANT TO RECOGNIZE
00:40:48THAT THE LATE REPRESENTATIVE DOUG LAMALFA WAS SUCH A CRITICAL
00:40:51PART OF THIS EFFORT. THE HOUSE
00:40:54FITTINGLY NAMED THIS BILL IN HIS HONOR BECAUSE IT REFLECTS THE
00:40:58TIRELESS LEADERSHIP HE BROUGHT TO THESE ISSUES IMPACTING
00:41:01DISASTER STRICKEN COMMUNITIES
00:41:03THROUGHOUT HIS CAREER. HE AND I FIRST SERVED TOGETHER IN THE CALIFORNIA STATE SENATE, AND
00:41:07THEN AGAIN HERE IN THE HOUSE, ME
00:41:10IN THE SENATE. I WOULD URGE ALL
00:41:14OF OUR COLLEAGUES TO SUPPORT THE
00:41:16HOUSE PASSED VERSION OF THE
00:41:18MEASURE AND ALLOW SURVIVORS TO
00:41:20BEGIN TO REBUILD THEIR LIVES
00:41:23WITHOUT UNNECESSARY FEAR OR DELAY. THANK YOU.
00:41:26>> MR. PRESIDENT. >> IS THERE OBJECTION TO THE
00:41:29ORIGINAL REQUEST?
00:41:32>> I OBJECT TO THE CRUZ REQUEST, AND I.
00:41:36>> MORGAN. >> I WANT TO TAKE NOTE OF THE
00:41:37FLOOR RIGHT NOW, BECAUSE OUR
00:41:42PROPOSAL HAS BIPARTISAN SUPPORT
00:41:44ON THE FLOOR THIS MORNING. IN OTHER WORDS, WE'RE TALKING ABOUT
00:41:48WHO'S BEEN TRYING TO BRING PEOPLE TOGETHER AND THE LIKE.
00:41:51OUR PROPOSAL ON THIS FLOOR, THE SENATOR FROM FLORIDA, SENATOR
00:41:54FROM CALIFORNIA, SENATOR FROM
00:41:58OREGON, A BIPARTISAN PROPOSAL, THE SENATOR FROM TEXAS IS NOT ON
00:42:01THE FLOOR WITH BIPARTISAN
00:42:03SUPPORT. I HOPE THAT HE'LL WORK WITH US OVER THE COURSE OF THE
00:42:06MORNING TO GET THIS WORKED OUT.
00:42:09AND THAT'S WHY I OBJECT TO THE
00:42:11CRUZ PROPOSAL. AND I OBJECT AGAIN.
00:42:14>> THE OBJECTION IS HEARD.
00:42:30SENATOR, FLORIDA. >> SO, FIRST OFF, I RISE TO RECOGNIZE ALL MY COLLEAGUES THAT
00:42:34HAVE SPOKEN ABOUT THE IMPORTANCE OF DISASTER RELIEF. AND I THINK
00:42:37WE ALL WANT TO MAKE SURE WE HELP
00:42:38OUR STATES. RIGHT NOW, I RISE IN
00:42:41SUPPORT. THE. DOUG LAMALFA DISASTER TAX RELIEF CERTAINTY
00:42:45ACT. FLORIDA IS NO STRANGER TO NATURAL DISASTERS. AS WE SPEAK.
00:42:48WE'RE IN THE MIDDLE OF HURRICANE SEASON. STARTED JUNE
00:42:511st. WHEN I WAS GOVERNOR, I WON FLORIDA FOR THE NATIONAL MODEL
00:42:55FOR DISASTER RELIEF. WE PRIORITIZE PREPAREDNESS, SAFETY,
00:42:57QUICK ACTION. BUT ONCE THE
00:43:00STORMS PASS, YOU KNOW, ANY PLACE ELSE, FLORIDA IS IN THE SAME POSITION. FLORIDIANS HAD TO BE
00:43:04REBUILT, FAMILIES LOST HOMES, SOME LOST EVERYTHING THEY HAD.
00:43:07WHEN YOU'RE IN THAT POSITION, ONE OF THE WORST MOMENTS OF YOUR ENTIRE LIFE, YOU SHOULDN'T HAVE
00:43:11TO WORRY ABOUT A RISING TAX BILL. THAT'S WHY I HELPED LEAD
00:43:14THIS BIPARTISAN BILL IN PREVIOUS BILLS, TO PROVIDE NOT JUST
00:43:17FLORIDIANS, BUT ALL AMERICANS ALL ACROSS THIS COUNTRY. TAX
00:43:21RELIEF AND DISASTER STRIKES,
00:43:23INCLUDING TEXAS AND OREGON'S
00:43:26OREGONIANS. OUR CITIZENS NEED CERTAINTY WHEN THEY ARE PIERCING
00:43:29THEIR LIV, PLACING, PIERCING THEIR LIVES BACK TOGETHER. THEY
00:43:33DON'T NEED THE GOVERNMENT TAKING A CUT OF THE MONEY. THEY NEED. THIS BILL JUST GIVES THEM
00:43:36CERTAINTY OF NECESSARY TAX RELIEF TO VICTIMS OF NATURAL DISASTERS, SO THEY CAN FOCUS ON
00:43:40GETTING BACK ON TRACK AND NOT WORRYING ABOUT THE IRS. THIS
00:43:43THIS BILL IS VERY CRITICAL TO MY STATE. IT'S ALSO MORE ABOUT
00:43:47HURRICANES. THIS BILL IS NOT JUST ABOUT HURRICANES. THIS BILL
00:43:50HELPS FAMILIES AFFECTED BY ALL NATURAL DISASTERS, INCLUDING WILDFIRES, TORNADOES,
00:43:54EARTHQUAKES, ANY OTHER SCENARIO THAT CAN BE DESCRIBED DECLARED A
00:43:57FEDERAL DISASTER. IT'S GOOD FOR THE ENTIRE COUNTRY. IT'S A
00:44:00BIPARTISAN BILL, AND IT'S A TRIBUTE TO DOUG LAMALFA, WHO
00:44:03PASSED AWAY EARLIER THIS YEAR.
00:44:08THIS PASSED THE HOUSE UNANIMOUSLY EARLIER THIS YEAR. SO IF WE PASS THIS TODAY, IT
00:44:11WILL BECOME LAW. AMERICANS DON'T NEED EXTRA WORRIES WHEN
00:44:15THE WORST HAPPENS, AND WE SHOULDN'T BE AN OBSTACLE TO THEIR RECOVERY. BY PASSING THIS
00:44:18BILL, WE WILL MAKE IT EASIER TO REBUILD THE AMERICAN DREAM. WHEN
00:44:22HARDSHIP STRIKES. I'M NOT GOING TO GIVE UP. I LOOK FORWARD TO CONTINUING TO WORK WITH MY COLLEAGUES, INCLUDING WITH MY
00:44:26FRIEND FROM TEXAS, TO GET THIS BILL ACROSS THE FINISH LINE FOR
00:44:30EVERY FLORIDIAN, EVERY AMERICAN. AND I RECOGNIZE THE ISSUE HE'S DEALING WITH, AND I LOOK FORWARD
00:44:33TO WORKING WITH HIM TO TRY TO SOLVE THE ISSUE THAT TEXANS ARE
00:44:36LOOKING, LOOKING AT RIGHT NOW. WITH THAT, MR. PRESIDENT, I
00:44:38YIELD BACK.
00:44:41>> COLLEAGUES, THE TRUMP
00:44:44ADMINISTRATION HAS US STUCK IN A
00:44:46HUMILIATING QUAGMIRE, A TOTAL
00:44:49DEADLOCK IN IRAN. WE ARE WASTING
00:44:54BILLIONS OF TAXPAYER DOLLARS
00:44:57DROPPING BOMBS AND FIRING
00:45:02MISSILES AT IRAN. IRAN RESPONDS WITH WITH ESCALATION. THEY KEEP
00:45:05THE STRAIT CLOSED. THEY ATTACK
00:45:06OUR BASES. THEY ATTACK OUR
00:45:09ALLIES IN THE REGION. THE WAR
00:45:13JUST EXPANDS AND EXPANDS AND
00:45:15EXPANDS. IN THE LAST WEEK, FOR
00:45:18INSTANCE, A NEW WAR IS
00:45:21THREATENING TO BREAK OUT BETWEEN YEMEN AND SAUDI ARABIA, WHICH
00:45:25WOULD LIKELY RESULT IN THE OTHER
00:45:29STRAIT AT THE BOTTOM OF THE RED
00:45:32SEA BEING CLOSED AS WELL TRUMP
00:45:36PERSONALLY PAYS NO PRICE FOR
00:45:38THIS STALEMATE. HIS CORRUPTION
00:45:42SCHEMES, HIS CRYPTOCURRENCY, HIS
00:45:46INSIDER TRADING, THE CONTRACTS
00:45:48TO HIS SONS, ALL OF THAT HAS
00:45:51PRACTICALLY TRIPLED HIS NET WORTH IN JUST 18 SHORT MONTHS IN
00:45:55OFFICE. KNOW THE PRICE OF THIS
00:46:00WAR IS BEING PLAINLY PAID, FIRST
00:46:03AND FOREMOST, BY OUR SOLDIERS,
00:46:07WHO ARE BEING PUT IN HARM'S WAY FOR A WAR THAT IS MAKING AMERICA
00:46:11WEAKER EVERY DAY. THEY'RE
00:46:14GETTING KILLED THEY'RE
00:46:19SUSTAINING LIFE ALTERING INJURIES. MANY OF OUR SOLDIERS
00:46:22AND SAILORS AND AIRMEN HAVE BEEN
00:46:25IN THE REGION FAR PAST THEIR SCHEDULED DEPLOYMENT. THEY
00:46:29HAVEN'T SEEN THEIR FAMILIES IN
00:46:31YEARS AND, OF COURSE, AMERICAN
00:46:35CONSUMERS ARE PAYING THE PRICE
00:46:38AS WELL. HERE'S THE MOST RELEVANT CHART. THIS IS FAMILIAR
00:46:41TO YOU. THIS IS WHAT GAS PRICES
00:46:44WERE DOING UNTIL THE WAR. THEY
00:46:50ARE CREEPING BACK WELL ABOVE $4
00:46:52A GALLON RIGHT NOW. THAT IS NOT
00:46:56AFFORDABLE FOR REGULAR AMERICANS, ESPECIALLY AMERICANS
00:46:57WHO HAVE TO TRAVEL GREAT
00:47:00DISTANCES FOR WORK, ESPECIALLY
00:47:02SMALL BUSINESS OWNERS WHO RELY
00:47:05ON REASONABLE GAS PRICES IN
00:47:08ORDER TO BE ABLE TO MAKE THEIR
00:47:10BILLS WORK. DIESEL PRICES ARE THROUGH THE ROOF AS WELL.
00:47:14FERTILIZER PRICES ARE THROUGH THE ROOF AS WELL, ALL BECAUSE OF
00:47:18THIS WAR. NO OTHER REASON. THE WAR, THE PRICES ARE THIS HIGH
00:47:22BECAUSE OF THE WAR. IT'S FARMERS. IT'S SMALL BUSINESS
00:47:26OWNERS. IT'S THE AMERICAN PUBLIC WHO ARE PAYING THE PRICE,
00:47:29NOT DONALD TRUMP. AND SO THAT'S
00:47:31WHY THE WAR IS JUST WILDLY
00:47:34UNPOPULAR. LIKE, EXCEPT FOR
00:47:39TRUMP'S SORT OF HARD LINE SUPPORTERS, THE FOLKS WHO JUST DON'T BELIEVE HE CAN EVER DO ANYTHING WRONG. NOBODY WANTS
00:47:43THIS WAR. IF YOU'RE IN A RED STATE OR A BLUE STATE, THIS WAR
00:47:47IS DEEPLY UNPOPULAR BECAUSE THE AMERICAN PUBLIC ARE SMART.
00:47:51THEY'RE SMARTER THAN A LOT OF MY COLLEAGUES GIVE THEM CREDIT FOR. THEY KNOW THAT A WAR WITH
00:47:55IRAN IS UNWINNABLE. THEY DON'T
00:47:57WANT AMERICA STUCK AGAIN IN A
00:48:01QUAGMIRE, A STALEMATE IN THE MIDDLE EAST. SO HOW DOES TRUMP
00:48:04HANDLE THIS? A DEEPLY UNPOPULAR
00:48:08WAR, A WAR THAT HE IS LOSING, A
00:48:12WAR THAT IS DRIVING UP PRICES
00:48:17FOR THE AMERICAN PUBLIC? WELL,
00:48:17THIS IS HOW HE HANDLES IT. HE
00:48:24GASLIGHTS. HE TELLS LIES. AND
00:48:31THE ESSENTIAL GASLIGHT IS THAT
00:48:34THE WAR IS ABOUT TO END. DON'T
00:48:38WORRY. YES, IT APPEARS THAT
00:48:39THERE IS NO END. IT APPEARS THAT YOU'RE GOING TO HAVE TO
00:48:43CONTINUE TO PAY THESE PRICES
00:48:46FOREVER. IT APPEARS THAT AMERICA
00:48:48HAS NO END GAME. BUT DON'T
00:48:50WORRY, THE WAR IS ABOUT TO END.
00:48:52AND SO I JUST WANT TO GO THROUGH
00:48:57THIS PATTERN FOR YOU, BECAUSE IT IS REALLY IMPORTANT TO TALK ABOUT THE FACT THAT THE WHITE
00:49:01HOUSE IS JUST NOT BEING STRAIGHT WITH THE AMERICAN PUBLIC ABOUT
00:49:05WHAT'S GOING ON IN THIS WAR OVER AND OVER AGAIN. THE
00:49:08PRESIDENT DECLARES THAT THE WAR
00:49:10IS ABOUT TO BE OVER. HE'S NOT
00:49:13TELLING THE TRUTH. HE NORMALLY
00:49:16DECLARES THAT THE WAR IS ABOUT TO BE OVER ON SUNDAY NIGHT OR
00:49:20MONDAY MORNING, RIGHT BEFORE THE
00:49:23MARKETS OPEN. BUT NOW THAT WE
00:49:25ARE SIX MONTHS INTO THIS WAR, WE
00:49:31CAN SEE THE PATTERN. LET ME GO
00:49:34THROUGH IT WITH YOU QUICKLY. ON
00:49:38MARCH 23rd, TRUMP ANNOUNCES A DEAL. I'M JUST GOING TO GIVE
00:49:42YOU HIS QUOTES HERE. THESE ARE HIS WORDS. HE SAYS, THE UNITED
00:49:45STATES OF AMERICA AND THE COUNTRY OF IRAN HAVE HAD OVER
00:49:47THE LAST TWO DAYS, VERY GOOD AND PRODUCTIVE CONVERSATIONS
00:49:51REGARDING A COMPLETE AND TOTAL RESOLUTION OF OUR HOSTILITIES IN
00:49:55THE MIDDLE EAST. THE MARKET IMPACT IS IMMEDIATE. THAT POST
00:49:59SENDS OIL PRICES TUMBLING NEARLY
00:50:0211%, BUT THERE IS NO DEAL. HE
00:50:05JUST MADE IT UP TWO DAYS LATER, THE UNITED STATES MILITARY IS
00:50:09BACK TO CONDUCTING STRIKES.
00:50:12STRIKES, QUOTE, ABRAHAM, THE
00:50:14U.S. ABRAHAM LINCOLN CONTINUES FLIGHT OPERATIONS AGAINST
00:50:17MILITARY TARGETS IN IRAN WHILE
00:50:19SAILING IN REGIONAL WATERS. ON
00:50:21MARCH 30th, TRUMP ANNOUNCES ANOTHER DEAL. THIS IS MONDAY
00:50:25MORNING, RIGHT BEFORE THE MARKETS OPEN. HE SAYS, THE
00:50:28UNITED STATES OF AMERICA IS IN SERIOUS DISCUSSIONS WITH A NEW
00:50:32AND MORE REASONABLE REGIME TO
00:50:34END END OUR MILITARY OPERATIONS
00:50:37IN IRAN. GREAT PROGRESS HAS BEEN
00:50:41MADE. ONE WEEK LATER, THERE'S NO
00:50:43DEAL. THE OPPOSITE. ONE WEEK
00:50:47LATER, TRUMP POSTS THAT HE'S GOING TO WIPE OUT THE ENTIRE
00:50:50CIVILIZATION OF IRAN A WHOLE
00:50:52CIVILIZATION WILL DIE. TONIGHT,
00:50:55HE POSTS, NEVER TO BE BROUGHT BACK AGAIN. THAT'S A WAR CRIME.
00:50:58THE PRESIDENT IS PROMISING, IS
00:51:00PROMISING TO KILL MILLIONS OF
00:51:03CIVILIANS. HE TRIES TO DIAL IT
00:51:09BACK BUT LATER ON THAT SAME DAY,
00:51:10HE'S BACK TO ANNOUNCING A DEAL.
00:51:13LITERALLY, I'M GOING TO WIPE OUT A WHOLE CIVILIZATION. THAT
00:51:17MORNING. THAT NIGHT, ON APRIL 17th, HE SAYS, WELL, WE RECEIVED
00:51:19A TEN POINT PROPOSAL FROM IRAN,
00:51:21AND I BELIEVE IT IS A WORKABLE BASIS ON WHICH TO NEGOTIATE. A
00:51:25TWO WEEK PERIOD WILL ALLOW THE
00:51:26AGREEMENT TO BE FINALIZED AND
00:51:29CONSUMMATED FIVE DAYS LATER.
00:51:32THERE'S NO DEAL. TRUMP
00:51:35ANNOUNCES A RESUMPTION OF THE
00:51:37WAR WITH IRAN NOW, LET'S FAST
00:51:39FORWARD TEN DAYS LATER TO APRIL
00:51:4117th. HE POSTS THAT A DEAL WITH
00:51:47IRAN IS IMMINENT. THIS PROCESS SHOULD GO VERY QUICKLY. MOST OF
00:51:50THE POINTS ARE ALREADY
00:51:52NEGOTIATED, HE POSTS TWO DAYS
00:51:55LATER, THE STRIKES START AGAIN.
00:51:58ON MAY 5th. TRUMP SAYS GREAT
00:52:02PROGRESS BEING MADE TOWARD A COMPLETE AND FINAL AGREEMENT
00:52:05WITH THE REPRESENTATIVES OF
00:52:07IRAN. COMPLETE IS CAPITALIZED.
00:52:09FINAL IS CAPITALIZED. AGREEMENT IS CAPITALIZED. REPRESENTATIVES
00:52:12IS CAPITALIZED. IRAN IS CAPITALIZED. TWO DAYS LATER, THE
00:52:16DEAL IS OFF. SURPRISE, SURPRISE.
00:52:20EVERY TIME TRUMP ANNOUNCES A
00:52:21DEAL IS IMMINENT, IT JUST
00:52:26DISAPPEARS. U.S. FORCES INTERCEPTED UNPROVOKED IRANIAN
00:52:30ATTACKS AND RESPONDED WITH SELF-DEFENSE STRIKES. CENTCOM
00:52:33ANNOUNCES. TWO DAYS LATER, ON MAY 25th, RIGHT BEFORE THE
00:52:37MARKETS OPEN, A DEAL IS IMMINENT. QUOTE, NEGOTIATIONS
00:52:40WITH THE ISLAMIC REPUBLIC OF IRAN ARE PROCEEDING NICELY RIGHT
00:52:44BEFORE THE MARKETS OPEN. THAT
00:52:46SAME DAY, THE UNITED STATES MILITARY STRIKES ON IRAN, QUOTE,
00:52:49THE U.S. FORCES CONDUCTED SELF-DEFENSE STRIKES IN SOUTHERN
00:52:52IRAN TODAY TO PROTECT OUR TROOPS
00:52:53FROM THREATS POSED BY IRANIAN
00:52:57FORCES. NEXT MONDAY, RIGHT
00:52:59BEFORE THE MARKETS OPEN TRUMP'S POSTS, IRAN WANTS TO MAKE A
00:53:02DEAL. IT'LL BE A GOOD ONE. JUST
00:53:05SIT BACK AND RELAX. IT'LL WORK OUT WELL. IN THE END. IT ALWAYS
00:53:09DOES. HOW IS THIS WORKING OUT WELL FOR THE AMERICAN PUBLIC?
00:53:12HOW IS THAT WORKING OUT WELL FOR
00:53:14THE AMERICAN PUBLIC THE NEXT
00:53:17DAY? THERE'S NO DEAL. THE
00:53:20UNITED STATES CONDUCTS STRIKES
00:53:21AGAINST IRAN ON JUNE 17th. TRUMP
00:53:25ACTUALLY SIGNS A DEAL, BUT IT'S NOT A REAL DEAL. HE DOES THIS
00:53:29WHOLE POMP AND CIRCUMSTANCE
00:53:31SIGNING CEREMONY IN VERSAILLES.
00:53:34THAT DEAL WAS NEGOTIATED BY
00:53:36DIPLOMATIC AMATEURS. THERE WAS
00:53:40NOTHING ACTUALLY AGREED TO.
00:53:41THERE WERE WORDS ON A PAGE, BUT
00:53:45FROM THE LITERAL MOMENT, THE INK WAS DRY. NOBODY COULD EXPLAIN
00:53:48WHAT THEY HAD AGREED TO. MOST
00:53:51SIGNIFICANTLY, IRAN THOUGHT THAT THE AGREEMENT OBLIGATED ISRAEL
00:53:55TO STOP ITS MILITARY OPERATIONS
00:53:57IN LEBANON. ISRAEL DID NOT AGREE
00:54:02TO THAT. IRAN THOUGHT THAT IT HAD BEEN GIVEN CONTROL OF THE STRAIT IN THAT AGREEMENT.
00:54:06APPARENTLY, THE AMERICAN
00:54:08DELEGATION DIDN'T THINK THEY
00:54:11MADE THAT CONCESSION. ANYWAY.
00:54:12THAT AGREEMENT LASTS TEN DAYS.
00:54:15ON JUNE 27th, TRUMP POSTS THAT
00:54:17STRIKES ON IRAN HAVE RESUMED. LET'S JUST FAST FORWARD TO THE
00:54:21LAST WEEK, BECAUSE TRUMP IS
00:54:25DOING IT AGAIN ON AUGUST 1st.
00:54:30TRUMP POSTS THAT THE. I'M NOT SURE THAT THAT I THAT I TRANSCRIBED THIS WRONG OR NOT,
00:54:34BUT IT LOOKS LIKE HE SAYS THE PERIMETERS OF A DEAL. I'LL GIVE HIM CREDIT THAT HE SAID.
00:54:38PARAMETERS. THE PARAMETERS OF A DEAL HAVE BEEN AGREED TO ON
00:54:42AUGUST 1st. ON AUGUST 2nd, THE
00:54:45DEAL IS IMMINENT, HAVING TO DO
00:54:48WITH THE STRAIT OF HORMUZ AND ULTIMATELY, THE DENUCLEARIZATION
00:54:52OF IRAN. A DEAL IS IMMINENT ON
00:54:55THE DENUCLEARIZATION OF IRAN.
00:54:56AUGUST 4th. A NIGHT OR TWO AGO,
00:55:01TRUMP TELLS FOX NEWS. WE'RE
00:55:04HAVING VERY GOOD DISCUSSIONS MEANWHILE, THERE ARE REPORTS
00:55:08THAT IRAN ISN'T EVEN TALKING TO
00:55:10THE UNITED STATES. TRUMP SAYING A DEAL ON THE DENUCLEARIZATION
00:55:14OF IRAN IS IMMINENT. AND IRAN IS SAYING, WE'RE NOT EVEN IN THE
00:55:17ROOM I MEAN, WE SHOULD NOT
00:55:22ACCEPT THIS LEVEL OF
00:55:25GASLIGHTING. THE WORD OF THE PRESIDENT HAS TO MATTER OVER AND
00:55:28OVER AGAIN ON 11 DIFFERENT
00:55:31INSTANCES, TRUMP SAYS A DEAL IS ABOUT TO HAPPEN. DON'T WORRY.
00:55:34THE WAR IS ABOUT TO BE OVER.
00:55:36THERE'S NO DEAL IS REAL. THESE
00:55:43PROMISES, I WISH IT WERE REAL. I WANT TO BE CLEAR ABOUT THAT. I
00:55:47WANT THE WAR TO END. I WOULD
00:55:50BASICALLY SUPPORT ANY AGREEMENT
00:55:52AT THIS POINT TO END THIS WAR. I
00:55:56WAS GLAD THAT THE PRESIDENT GOT A CEASE FIRE, BUT I COULD TELL
00:56:00BY THE TERMS IT WASN'T GOING TO
00:56:03LAST. IT WASN'T A REAL
00:56:05AGREEMENT. BUT AT THIS POINT,
00:56:07MANY OF US ARE WILLING TO SUPPORT ALMOST ANY AGREEMENT.
00:56:10IT'LL BE A HUMILIATING AGREEMENT. IT WILL BE ONE IN
00:56:14WHICH IRAN WILL ESSENTIALLY
00:56:15DECLARE VICTORY. BUT THIS WAR IS
00:56:19A DISASTER. AMERICA IS LOSING.
00:56:24CONSUMERS CAN'T AFFORD TO PAY
00:56:25THESE PRICES. BUSINESSES ARE
00:56:28GOING UNDER. WE HAD A RECORD OF FARM BANKRUPTCIES IN THE LAST
00:56:32YEAR. WE LOOK LIKE A LAUGHING
00:56:39STOCK. AND WE'RE RUNNING OUT OF
00:56:40MUNITIONS. WE DON'T WE DON'T
00:56:45HAVE WHAT WE NEED TO PROTECT
00:56:48OURSELVES ANYMORE. REPORTS ARE
00:56:50THAT WE'VE GONE THROUGH HALF OF
00:56:53OUR TOMAHAWKS, OUR ALLIES IN THE
00:56:57REGION HAVE FIRED 70 TO 80% OF THEIR PATRIOT MISSILES. THIS IS
00:57:00A CRISIS. IT HAS TO END. BUT
00:57:04MAYBE THERE'S AN EXPLANATION FOR
00:57:09WHY TRUMP CONTINUES TO DO THIS
00:57:12GASLIGHTING, PARTICULARLY RIGHT
00:57:14BEFORE THE MARKETS OPEN TRUMP
00:57:19ANNOUNCED NOW, A WEEK OR SO AGO,
00:57:23THAT IF YOU PAY HIM $100,000 A
00:57:29MONTH, HE WILL GIVE YOU ADVANCE
00:57:34NOTICE OF AMERICAN FOREIGN
00:57:36POLICY DECISIONS I DON'T I
00:57:43DON'T UNDERSTAND WHY THAT IS ACCEPTABLE TO ANYBODY IN THIS
00:57:46CHAMBER. IF YOU PAY DONALD TRUMP
00:57:49$100,000, HE WILL GIVE YOU
00:57:53ADVANCE NOTICE OF AMERICA'S
00:57:55FOREIGN POLICY DECISIONS. IF WE
00:57:59ARE ABOUT TO SIGN A PEACE TREATY, AND YOU GIVE HIM
00:58:03$100,000 A MONTH, HE WILL GIVE YOU ADVANCE NOTICE OF THAT. IF
00:58:06STRIKES ARE GOING TO RESUME
00:58:08AGAINST IRAN, IF YOU PAY HIM $100,000 A MONTH, HE WILL GIVE
00:58:12YOU ADVANCE NOTICE OF THAT. THAT
00:58:18IS A SUBSCRIPTION SERVICE FOR
00:58:21INSIDER TRADING, AND IT IS
00:58:25UNQUESTIONABLY LUCRATIVE ON
00:58:27AUGUST 1st, TRUMP POSTS THAT A DEAL IS IMMINENT. REMEMBER,
00:58:31PEOPLE STILL TAKE HIM SERIOUSLY.
00:58:34NOT EVERYBODY KNOWS ABOUT THIS HISTORY OF GASLIGHTING. ON
00:58:38AUGUST 1st, TRUMP SAYS A DEAL IS IMMINENT, AND THE MARKET IMPACT
00:58:42IS IMMEDIATE. OIL PRICES FALL BY
00:58:465%, RIGHT AS THE MARKETS OPEN
00:58:50THE NEXT DAY, RIGHT BEFORE THE
00:58:52MARKETS OPEN, TRUMP SAYS AGAIN,
00:58:55THE DEAL IS IMMINENT. ANOTHER 5%
00:59:02DROP. AND SO YOU SEE HOW HIS STATEMENTS MOVE THE MARKET. AND
00:59:05YOU CAN SEE HOW IF YOU GET
00:59:09ADVANCE NOTICE OF THOSE STATEMENTS, EVEN BY A FEW
00:59:12SECONDS YOU CAN CAPITALIZE ON
00:59:18THAT MARKET MOVEMENT. IF YOU KNOW THAT IF TRUMP SAYS A DEAL
00:59:21IS IMMINENT AND THE MARKETS ARE GOING TO MOVE 5%, AND YOU PAY
00:59:25$100,000 TO DONALD TRUMP TO GET THAT INFORMATION EARLY, YOU CAN
00:59:29MAKE A BOATLOAD OF MONEY. AND SO
00:59:33MAYBE THE WAR CONTINUES, BECAUSE
00:59:35TRUMP HAS FOUND A WAY TO
00:59:45MONETIZE THE WAR IN A DISGUSTINGLY CORRUPT WAY. I GET THAT AT SOME POINT, WE BECOME
00:59:47IMMUNE TO ALL OF THIS. BUT CAN
00:59:52ANY OF MY REPUBLICAN COLLEAGUES
00:59:55DEFEND THE PRESIDENT SELLING ANNOUNCEMENTS FROM THE WHITE
00:59:58HOUSE FOR $100,000 A MONTH IN
01:00:01THE MIDDLE OF A WAR? IS ANY
01:00:06REPUBLICAN SENATOR WILLING TO COME DOWN TO THIS FLOOR AND
01:00:10DEFEND THE PRESIDENT OF THE UNITED STATES, SETTING UP A
01:00:14SUBSCRIPTION SERVICE FOR PUBLIC POLICY ANNOUNCEMENTS FROM THE
01:00:17WHITE HOUSE, SO AS TO ADVANTAGE CERTAIN PLAYERS IN THE
01:00:21MARKETPLACE WHO ARE WILLING TO
01:00:22PAY THAT AMOUNT OF MONEY. OF
01:00:28COURSE NOT. KNOW IN YOUR HEART
01:00:31THAT IT IS CORRUPT, THAT IT IS
01:00:35WRONG, THEN YOU SHOULD SAY
01:00:38SOMETHING ABOUT IT. BECAUSE THE
01:00:44WAR MIGHT BE CONTINUING, NOT JUST BECAUSE OF INCOMPETENCE,
01:00:48BUT BECAUSE THE PRESIDENT HAS
01:00:50FOUND A WAY TO MAKE MONEY. MORE
01:00:53PEOPLE ARE GOING TO PAY HIM $100,000 FOR THESE ANNOUNCEMENTS
01:00:57IN THE MIDDLE OF A WAR. FRANKLY, PEOPLE WOULD BE WILLING TO PAY
01:01:00IT ABSENT A WAR, BUT HE'LL MAKE
01:01:03MORE MONEY DURING A WAR BECAUSE
01:01:05HIS ANNOUNCEMENTS CLEARLY MOVE
01:01:08THE MARKET IN THE MIDDLE OF A
01:01:09VERY COMPLICATED CONFLICT WHERE
01:01:14THE DECISIONS OF THE UNITED
01:01:17STATES GOVERNMENT IMMEDIATELY
01:01:21CHANGE OIL MARKETS. REASON THAT
01:01:24THIS WAR IS DRAGGING ON
01:01:26ENDLESSLY, IT DOES MATTER. AND
01:01:33MY COLLEAGUES SHOULD CARE ABOUT TRUMP'S INSIDER TRADING
01:01:36SUBSCRIPTION SCHEME. IT'S JUST
01:01:39SO DISCOURAGING THAT NOBODY ON THE OTHER SIDE OF THE AISLE SAYS
01:01:41ANYTHING ABOUT THIS. WHEN THE CREDIBILITY OF THE WHITE HOUSE
01:01:45AND OF OUR COUNTRY IS JUST
01:01:47GETTING DESTROYED AND SULLIED.
01:01:53BUT MY REPUBLICAN COLLEAGUES
01:01:54SHOULD ALSO CARE THAT THE WAR IS
01:01:57BEING WAGED WITH A LEVEL OF
01:02:02EMBARRASSING INCOMPETENCE. THAT
01:02:06IS MAKING AMERICA WEAKER.
01:02:07THAT'S GETTING US NOWHERE. THIS
01:02:11BODY WORKS BEST WHEN THE
01:02:13PRESIDENT'S PARTY STANDS UP TO
01:02:16HIM AND SAYS, ENOUGH. WHETHER
01:02:21IT'S CORRUPTION OR INCOMPETENCE, THAT'S WHAT PRESIDENT JOHNSON'S
01:02:24PARTY DID DURING THE VIETNAM
01:02:28WAR. IT IS ACTUALLY WHAT THE
01:02:30DEMOCRATIC PARTY DID WITH
01:02:34PRESIDENT OBAMA DURING THE LATE STAGES OF THE AFGHANISTAN WAR,
01:02:37WHEN MANY OF US DECIDED THAT
01:02:41AMERICA HAD TO WITHDRAW AND OPPOSED PRESIDENT OBAMA'S PARTY.
01:02:44IT'S WHAT MANY OF US DID HERE DURING THE EARLY STAGES OF THE
01:02:47WAR IN YEMEN THAT PRESIDENT
01:02:52OBAMA WAS BRINGING THE AMERICAN MILITARY INTO. AND MANY OF US
01:02:56OPPOSED. IT, GOT UP ON THIS FLOOR, EXPLAINED WHY WE OPPOSED
01:02:59IT REPUBLICANS CAN DO THAT, TOO.
01:03:05YOU CAN SAY, THIS WAR HAS TO
01:03:08END. YOU CAN SAY THAT THE
01:03:10PRESIDENT SHOULD NEVER, EVER
01:03:12PERSONALLY BENEFIT FROM A
01:03:15CONFLICT OVERSEAS. YOU CAN SAY THAT THE PRESIDENT OF THE UNITED
01:03:18STATES SHOULD NOT SELL ACCESS TO
01:03:23WHITE HOUSE STATEMENTS. IT WOULD
01:03:26MAKE A BIG DIFFERENCE FOR OUR
01:03:29DEMOCRACY AND FOR THE AMERICAN
01:03:34PEOPLE WHO ARE PAYING THROUGH THE NOSE FOR THE COSTS OF THIS
01:03:36WAR. IF YOU DID.
01:03:41>> I'VE BEEN TOLD THAT I AM A LOUSY POLITICIAN, BUT A GOOD
01:03:45SENATOR, I CONSIDER THAT A COMPLIMENT. WHAT WOULD HAPPEN IF
01:03:49EVERYONE IN THE SENATE STOPPED BEING A GOOD POLITICIAN FOR A
01:03:52MOMENT, AND STROVE TO BE A GOOD
01:03:55SENATOR? WHEN IT COMES TO ADDRESSING THE ISSUE ASSOCIATED
01:03:58WITH SOCIAL SECURITY, OVER 70
01:04:01MILLION AMERICANS DEPEND UPON SOCIAL SECURITY AND ULTIMATELY,
01:04:04ALL AMERICANS WILL. WHEN THEY
01:04:07REACH THE AGE OF RETIREMENT,
01:04:10EVERYONE IN THE SENATE AND MOST OF THE PEOPLE IN THE COUNTRY
01:04:14KNOW THAT THE SOCIAL SECURITY
01:04:15SYSTEM IS GOING INSOLVENT. WHEN
01:04:18THAT OCCURS. BY LAW, THERE WILL
01:04:20BE A CUT. IF WE WAIT FOR SIX
01:04:24YEARS OF 22 TO 28%, 28 TO 20 2
01:04:28TO 28% CUT IN BENEFITS FOR
01:04:33EVERYONE ON SOCIAL SECURITY, AND EVERYONE WHO WILL BE NOW MEMBERS
01:04:37OF CONGRESS SAY THEY CARE ABOUT SOCIAL SECURITY. THEY SAY THEY
01:04:39CARE ABOUT THE SENIORS. THEY
01:04:42CARE ABOUT PRESERVING PROMISED BENEFITS FOR CURRENT RETIREES
01:04:46AND FUTURE GENERATIONS, AND
01:04:48WE'VE HAD A BILL BEFORE US CALLED THE PROMISE ACT BY
01:04:51SENATOR DICK DURBIN. MY
01:04:53COLLEAGUE, DEMOCRATIC SENATOR, COLLEAGUE FROM ILLINOIS, THAT
01:04:56WOULD HAVE BEEN A BILL THAT WOULD HAVE SET UP A COMMISSION,
01:04:59IF YOU WILL, OF THE SOCIAL
01:05:02SECURITY ADVISORY BOARD, TO PUT
01:05:04FORWARD A PROPOSAL. BUT THE
01:05:07HOUSE IS OUT OF SESSION. THAT
01:05:09COULD NOT PASS. AND SO NOW I PUT
01:05:12UP A SENATE RESOLUTION, AND WE TAKE OUT THE INVOLVEMENT OF THE
01:05:15SOCIAL SECURITY ACTUARIES, AND
01:05:19WE ASK THAT A GROUP OF SENATORS
01:05:21AND REPRESENTATIVES, REPUBLICANS AND DEMOCRATS, COME TOGETHER
01:05:25OVER THE NEXT TWO MONTHS IN A
01:05:27PROCESS TO PRODUCE A POTENTIAL
01:05:30IDEA. THIS WHAT I'M ABOUT TO
01:05:32PROPOSE IS NOT ABOUT A
01:05:35PARTICULAR SOLUTION. THIS. WHAT
01:05:37I'M ABOUT TO PROPOSE IS ABOUT A
01:05:40PROCESS BY WHICH A SOLUTION CAN BE CONSIDERED, GIVEN TO THE
01:05:43SENATE FINANCE COMMITTEE AND
01:05:45HOUSE WAYS AND MEANS FOR REGULAR
01:05:48ORDER CONSIDERATION, AND THEN WITH A TIME AGREEMENT, SO THAT
01:05:51THERE WILL BE, AFTER THAT CONSIDERATION BY THE SENATE
01:05:55FINANCE COMMITTEE, IN WHICH ANY MEMBER CAN REPLACE THE BILL
01:05:58THAT'S BROUGHT TO THEM WITH AN AMENDMENT IN THE NATURE OF A
01:06:01SUBSTITUTE THAT ANY MEMBER COULD BE BERNIE MORENO. IT COULD BE
01:06:05ELIZABETH WARREN, IT COULD BE RON WYDEN, IT COULD BE BERNIE
01:06:09SANDERS, IT COULD BE BILL CASSIDY PUTTING UP THEIR OWN
01:06:12PROPOSAL. IF THEY DON'T LIKE WHAT THIS BIPARTISAN, BICAMERAL
01:06:16GROUP OF ELECTED OFFICIALS COMES
01:06:18UP WITH. NOW, THIS IS MERELY A
01:06:21PROCESS. IT DOES NOT ATTEMPT TO
01:06:24POINT IN ANY DIRECTION TOWARDS A SOLUTION. ALL IT ASKS IS THAT WE
01:06:28BE GOOD SENATORS, PUTTING
01:06:30POLITICS ASIDE, RECOGNIZING THAT
01:06:32IF WE DON'T DO SOMETHING SOONER
01:06:35THAN LATER TO FIX THE PROBLEM OF
01:06:38SOCIAL SECURITY, THAT FUTURE
01:06:41THAT SOCIAL SECURITY BENEFICIARIES CAN GET AS MUCH AS
01:06:46A 28.5% CUT IN BENEFITS UNDER
01:06:49CURRENT LAW. SO I'M PUTTING THE
01:06:53TEST. WILL THE SENATE TAKE UP
01:06:55THE CHALLENGE? WILL WE PUT
01:06:57POLITICS ASIDE, STEP FORWARD ON
01:06:59A BIPARTISAN, BICAMERAL BASIS TO
01:07:02ACTUALLY WORK FOR THE AMERICAN
01:07:04PEOPLE? IN A WAY WHICH CAN
01:07:07ENSURE THAT SOCIAL SECURITY EXISTS? SO I ASK UNANIMOUS
01:07:10CONSENT ON A PATH FORWARD THAT
01:07:12ALL COLLEAGUES SHOULD BE ABLE IT
01:07:17MERELY, ONCE MORE CREATES A PROCESS TO DO WHAT THE AMERICAN
01:07:20PEOPLE SENT US HERE TO DO.
01:07:24DEBATE SOLUTIONS, CONSIDER PROPOSALS, AND VOTE. IT DOES NOT
01:07:28PREDETERMINE THE OUTCOME. IT
01:07:29JUST SAYS THAT CONGRESS MUST
01:07:32CONSIDER A SOLUTION. ANY ONE SOLUTION, DEMOCRAT OR
01:07:35REPUBLICAN, LEFT AND RIGHT. IT
01:07:37JUST ASKS US TO DO OUR JOB, TO
01:07:40CONSIDER THE SOLUTION, TO THEN GO THROUGH REGULAR ORDER ON
01:07:45SENATE FINANCE COMMITTEE, TO BE CONSIDERED BY ALL. SO WILL WE BE
01:07:49GOOD SENATORS, OR WILL WE BE GOOD POLITICIANS? WE DENY
01:07:52PROGRESS FOR THE SAKE OF
01:07:55POLITICAL SUCCESS. LET'S FIND
01:07:58OUT. MR. PRESIDENT, I NOW ASK
01:08:01UNANIMOUS CONSENT TO SET UP A
01:08:03PROCESS, ONLY A PROCESS, FOR
01:08:07CONGRESS TO CONSIDER SOLUTIONS. SO MY SCRIPT IS AS IF IN
01:08:11LEGISLATIVE SESSION. AND
01:08:13NOTWITHSTANDING RULE 22, I ASK UNANIMOUS CONSENT THAT THE
01:08:16SENATE PROCEED TO THE CONSIDERATION OF. S RES 832,
01:08:19WHICH IS AT THE DESK, I FURTHER
01:08:23ASK THE RESOLUTION BE AGREED TO, AND THAT THE MOTION TO RECONSIDER BE CONSIDERED, MADE
01:08:27AND LAID UPON THE TABLE, WITH NO
01:08:29INTERVENING ACTION OR DEBATE. >> IS THERE OBJECTION. >> RESERVING THE RIGHT TO
01:08:33OBJECT? >> SENATOR MORGAN? >> MR. PRESIDENT, FIRST OF ALL,
01:08:36LET ME SAY THAT FOR YEARS NOW,
01:08:40BILL CASSIDY AND I HAVE WORKED TOGETHER IN THE FINANCE
01:08:43COMMITTEE ON HEALTH CARE, TRYING TO FIND BIPARTISAN COMMON
01:08:47GROUND. AND I JUST WANT HIM TO
01:08:50KNOW HOW MUCH I'VE APPRECIATED WORKING WITH HIM. THIS IS AN
01:08:54ISSUE WE SIMPLY DISAGREE ON, AND THAT HAPPENS. PEOPLE HAVE
01:08:57DIFFERENCES OF OPINION. THE SOCIAL SECURITY CRISIS IS A
01:09:01FREIGHT TRAIN BARRELING TOWARDS
01:09:03OUR NATION. SOCIAL SECURITY WILL
01:09:06BE DEPLETED BEFORE THE END OF
01:09:10THE NEXT PRESIDENTIAL ADMINISTRATION. THE RESOLUTION
01:09:14ON OFFER NOW CLAIMS TO BE A QUICK SOLUTION TO ADDRESSING THE
01:09:18CRISIS. INSTEAD, THE RESOLUTION CREATES A FAST TRACK FOR
01:09:22REPUBLICANS TO CARRY OUT A LONG
01:09:23SOUGHT GOAL OF SLASHING SOCIAL
01:09:26SECURITY BENEFITS FOR RETIREES
01:09:29AND HELPING BILLIONAIRES AVOID PAYING THEIR FAIR SHARE. EACH
01:09:33TIME REPUBLICANS GET THEIR HANDS ON SOCIAL SECURITY, IT SEEMS
01:09:36THAT CUTS GET MADE. LIFE GETS
01:09:39WORSE FOR SENIORS. ESTABLISHING
01:09:41THIS COMMISSION WOULD BE A FAST
01:09:45TRACK TO CUTTING BENEFITS. THE
01:09:48PROPOSAL ON OFFER IS A SENATE
01:09:50ONLY PROCESS UNDER THE CONSTITUTION. BILLS RAISING
01:09:54TAXES MUST ORIGINATE IN THE HOUSE OF REPRESENTATIVES.
01:09:56BECAUSE OF THIS CONSTITUTIONAL
01:09:59REQUIREMENT, ANY SENATE ONLY PASSAGE, ANY SENATE ONLY
01:10:02PROCESS, LIKE THE CASSIDY
01:10:05PROPOSAL, COULD NOT INCLUDE A
01:10:07TAX INCREASE. THIS MEANS UNDER
01:10:10THE CASSIDY PROPOSAL, BILLIONAIRES COULD NOT BE REQUIRED TO CONTRIBUTE. WE
01:10:14COULDN'T INCREASE THE PAYROLL TAX CAP OR INCLUDE ANY OTHER
01:10:17REVENUE INCREASE. IT WOULD MEAN THAT THE ENTIRE BURDEN OF SOCIAL SECURITY SOLVENCY WOULD FALL ON
01:10:22THE BACKS OF RETIREES, AND THE
01:10:25DISABLED THROUGH BENEFIT CUTS. THAT'S NOT A FAIR SOLUTION FOR
01:10:27THE VAST MAJORITY OF AMERICANS.
01:10:30HERE'S THE BOTTOM LINE. SINCE
01:10:32MY DAYS AS CO-DIRECTOR OF THE OREGON GRAY PANTHERS, I'VE GOT A
01:10:35LONG RECORD OF WORKING ON A
01:10:37BIPARTISAN BASIS TO FIX THIS PROBLEM AND PROTECT RETIRED
01:10:41PEOPLE FROM MISSING OUT ON THEIR
01:10:42HARD EARNED BENEFITS. WE CAN DO
01:10:46THAT BY UPDATING SOCIAL SECURITY TO REFLECT THE ECONOMY OF
01:10:49AMERICA TODAY, AND BY ENSURING THAT BILLIONAIRES PAY INTO
01:10:53SOCIAL SECURITY WITH EACH PAYCHECK. LIKE TEACHERS, NURSES,
01:10:55AND FIREFIGHTERS SUPPORTING A
01:10:59SCHEME LIKE THIS, A FAST TRACK TO RIP AWAY AMERICANS HARD EARNED BENEFITS WHILE SHUTTING
01:11:02THEM OUT OF THE DEBATE IS JUST
01:11:04PLAIN WRONG. IN MY JUDGMENT. IF
01:11:07REPUBLICANS HAD ANY REAL INTEREST IN WANTING TO SHORE UP SOCIAL SECURITY, THEY WOULD BE
01:11:11PUTTING FORTH THEIR OWN IDEAS AND WORKING WITH DEMOCRATS TO
01:11:15PROTECT THE PROGRAM, RATHER THAN
01:11:17TO UNDERMINE IT. DEMOCRATS HAVE
01:11:20SEVERAL CONCRETE PROPOSALS TO PROTECT AND STRENGTHEN AMERICANS EARNED BENEFITS WITHOUT RAISING
01:11:24THE RETIREMENT AGE, COST OF LIVING, HAIRCUTS, OR MEANS
01:11:27TESTING THE BENEFITS. AND IT ALL
01:11:29STARTS BY FINALLY REQUIRING
01:11:32BILLIONAIRES TO PAY WHAT THEY
01:11:33OWE, JUST LIKE THE REST OF US, BILLIONAIRE WEALTH HAS
01:11:37SKYROCKETED TO OVER $9 TRILLION
01:11:38THIS YEAR. WHILE WORKING PEOPLE
01:11:41STRUGGLE TO SCRAPE ENOUGH MONEY TOGETHER TO PAY FOR RENT, GAS,
01:11:43AND GROCERIES, THIS PROPOSAL, IN
01:11:47MY VIEW, IS EFFECTIVELY A WOLF IN SHEEP'S CLOTHING. IT DOES
01:11:50NOTHING TO PROTECT SOCIAL SECURITY AND INSTEAD HANDS
01:11:54REPUBLICANS THE KEY TO THE CASTLE TO START THEIR WORK OF
01:11:57RIPPING AWAY AMERICANS HARD EARNED BENEFITS. FOR THESE
01:12:00REASONS, I OBJECT, AND I YIELD THE FLOOR. >> OBJECTION IS HEARD.
01:12:04>> MR. PRESIDENT. >> SENATOR, LOUISIANA. >> [APPLAUSE] >> AGREES MY SOUL, THAT ONCE
01:12:07MORE, POLITICS AND POLITICAL RHETORIC TRUMPS THAT WHICH WE
01:12:10NEED TO DO FOR THE COUNTRY. LET ME ADDRESS THE NATURE OF THE
01:12:14OBJECTION. ACTUALLY, THIS IS A SENATE RESOLUTION, BUT IT INVITES THE HOUSE TO
01:12:18PARTICIPATE, AND THE
01:12:20CONSTITUTION REQUIRES THAT ANYTHING RAISING TAXES ORIGINATES IN WAYS AND MEANS IN
01:12:24THE HOUSE. AND SO THEREFORE, THEY HAVE TO PARTICIPATE. THAT
01:12:27IS THE PROTECTION OF OUR CONSTITUTION. IT IS A
01:12:30BIPARTISAN. BY THE WAY, THIS IS A BIPARTISAN PROPOSAL TO SET UP
01:12:34THIS PROCESS. THERE IS NOTHING PARTIZAN ABOUT IT. DICK DURBIN
01:12:37SET UP THE PROMISE ACT, THE HOUSE, UNFORTUNATELY, LEFT JULY
01:12:4123rd, SO WE COULD NOT PASS IT.
01:12:45THIS IS THE BEST WE CAN DO WITH THE HOUSE OUT OF SESSION. IN A
01:12:47BIPARTISAN, INITIATED PROCESS,
01:12:49DICK DURBIN, WHO IS A SENIOR MEMBER OF THE DEMOCRATIC CAUCUS,
01:12:53IS THE ONE WHO IS MY
01:12:55COLLABORATOR. AND THERE'S NOTHING IN HERE TO CUT BENEFITS.
01:12:59THAT IS ABSURD IT SETS UP A
01:13:03PROCESS BY WHICH A SOLUTION IT
01:13:09DOES NOT DICTATE AN OUTCOME. AND
01:13:12TO SUGGEST THAT WHAT THIS DOES
01:13:15TODAY IS DICTATE AN OUTCOME, IS NOT TELLING THE TRUTH TO THE
01:13:19AMERICAN PEOPLE. THERE'S NO FAST TRACK HERE. THERE'S TWO
01:13:23MONTHS OF OPEN DIALOG WITH THE AMERICAN PEOPLE, AND THEN IT
01:13:27GOES TO THE SENATE FINANCE COMMITTEE AND TO WAYS AND MEANS
01:13:31FOR IT TO THEN BE CONSIDERED IN
01:13:34REGULAR ORDER. THIS IS BASICALLY A TIME AGREEMENT, AND TIME AGREEMENTS ARE WHAT WE DO ALL
01:13:38THE TIME AROUND HERE. I AGREE
01:13:40WITH UPDATING SOCIAL SECURITY, BUT WE'RE NOT GOING TO GET
01:13:44THERE. IF WE SAY EVERY TIME ONE SIDE OFFERS IT, OH, WE CAN'T DO
01:13:47IT, BECAUSE THE OTHER SIDE IS
01:13:51ANGLING FOR ADVANTAGE. LET'S BE
01:13:54GOOD SENATORS, NOT BE GOOD
01:13:58POLITICIANS. .
01:14:02>> SENATOR MORGAN.
01:14:03>> JUST FOR A BRIEF MINUTE, YOU
01:14:07CAN'T ORIGINATE TAXES IN THE SENATE. SO WHAT THAT MEANS IS
01:14:10THIS PROPOSAL WOULD GIVE THE BILLIONAIRES A FREE RIDE, AND I YIELD BACK.
01:14:14>> MR. PRESIDENT. >> RESPOND >> LOUISIANA.
01:14:18>> ONE MORE TIME THE RESOLUTION
01:14:20INVITES THE HOUSE TO
01:14:23PARTICIPATE. THE RESOLUTION
01:14:25SAYS, PLEASE, SPEAKER, PLEASE.
01:14:28MINORITY LEADER, APPOINT PEOPLE TO PARTICIPATE. WE RECOGNIZE
01:14:32THAT WAYS AND MEANS HAS TO ORIGINATE THIS BILL. I WISH WE
01:14:36COULD HAVE PASSED THE PROMISE
01:14:37ACT, BUT THERE'S OBJECTIONS TO PASSING THE PROMISE ACT, WHICH
01:14:41WOULD HAVE HAD TO HAVE BEEN PASSED BY THE HOUSE AS WELL. SO
01:14:44IN THIS WORKING AS WELL AS WE
01:14:46CAN, KNOWING THAT SOCIAL
01:14:48SECURITY IS GETTING WORSE AND
01:14:50WORSE BY THE DAY, WE INVITE THEM
01:14:53TO PARTICIPATE WITH THE
01:14:56UNDERSTANDING THAT THEY COULD PUT IN WHATEVER THEY WANT. THE
01:15:00ARGUMENT OF MY COLLEAGUE FROM
01:15:03OREGON IS THAT WE SOMEHOW HAVE A
01:15:05SOLUTION BAKED IN. THAT IS NOT
01:15:11TRUE. THIS IS ONLY A PROCESS,
01:15:13BILL. AND IF THE HOUSE WANTS TO
01:15:16ADVANCE A BILL WHICH TAXES BILLIONAIRES, BY GOLLY, THEY CAN
01:15:20DO IT. THEY CAN DO IT UNDER THIS BILL RIGHT NOW. THEY CAN'T,
01:15:24BECAUSE THERE'S NO MECHANISM FOR
01:15:26THAT BILL TO ADVANCE. WE ARE
01:15:29CREATING A MECHANISM BY WHICH IT CAN ADVANCE. AND SO IF YOU WANT
01:15:32TO TAX THE BILLIONAIRES, WE CREATE THE OPPORTUNITY. IF YOU
01:15:35WANT TO DO NOTHING, YOU AND I
01:15:41GOT LIMITED TIME LEFT, AND I DON'T FEEL LIKE SITTING BACK AND BEING A GOOD POLITICIAN WHEN
01:15:44I SHOULD BE A GOOD SENATOR,
01:15:46WORKING TO FIX SOCIAL SECURITY,
01:15:49BECAUSE EVERY DAY IT GETS WORSE.
01:15:51AND EVERY DAY THE LAW REQUIRED
01:15:54CUT IN BENEFITS. THE
01:15:58BENEFICIARIES INCREASES. IT DOESN'T GET BETTER. BY WAITING
01:16:01TWO YEARS. IT GETS WORSE. AND OPPOSING THIS RESOLUTION IS
01:16:05BASICALLY TURNING A BLIND EYE TO
01:16:09THAT DETERIORATION.
01:16:10>> THAT MR.. I MR. PRESIDENT, A
01:16:16FEW YEARS AGO, I MET A YOUNG
01:16:20WOMAN WHO LIVES IN THE CHICAGO
01:16:22SUBURBS. SHE TOLD ME A STORY OF
01:16:25HER COLLEGE CAREER AND WHAT IT
01:16:28LED TO. IT WAS SOMETHING I'D
01:16:30NEVER HEARD BEFORE. HER
01:16:33EXPERIENCE IN TRYING TO PURSUE A DEGREE, LEADING TO LAW
01:16:37ENFORCEMENT, TOOK HER NOT TO THE
01:16:39NORMAL, PREDICTABLE ACADEMIC
01:16:42SOURCES, BUT TO A NEW INDUSTRY, WHICH WAS OPENING UP IN OUR
01:16:46COUNTRY. FOR PROFIT COLLEGES AND
01:16:49UNIVERSITIES HERS WAS WAS A SAD
01:16:53STORY. SHE HAD BEEN ENROLLED IN
01:16:55ONE OF THESE FOR PROFIT COLLEGES
01:16:59AND PAID THE TUITION, TOOK THE COURSES, SOME OF THEM IN PERSON,
01:17:02SOME OF THEM ONLINE, AND
01:17:05ULTIMATELY WENT TO A COUNSELOR AND ASKED IF SHE WAS HEADED FOR
01:17:09A BACHELOR'S DEGREE BECAUSE OF HER COURSEWORK, AND HE ASSURED
01:17:13HER THAT SHE WAS. SHE WENT ON TO
01:17:14SAY THAT SHE HOPED TO BE ABLE TO
01:17:17GET INTO LAW ENFORCEMENT. THAT WAS HER ULTIMATE GOAL. HE GAVE
01:17:21HER ASSURANCES THAT THAT WOULD HAPPEN. SHE FINISHED HER DEGREE
01:17:25AT THIS FOR PROFIT COLLEGE AND
01:17:27UNIVERSITY IN CHICAGO, AND THEN
01:17:33TOOK HER CERTIFICATE SHOWING HER GRADUATION TO WOULD BE
01:17:37EMPLOYERS, POLICE DEPARTMENTS IN
01:17:40THE AREA. THAT'S NOT A REAL SCHOOL. THAT'S A FOR PROFIT
01:17:44SCHOOL. AND THE COURSES YOU TOOK DON'T COUNT. IF YOU WANT A
01:17:48DEGREE IN LAW ENFORCEMENT, THAT
01:17:49LEADS TO A REAL JOB, YOU CAN'T
01:17:52GET IT FROM A FOR PROFIT COLLEGE
01:17:55AND UNIVERSITY. WELL, THAT WAS A HEARTBREAK TO HER BECAUSE SHE
01:17:57SPENT YEARS WORKING ON IT. BUT
01:17:59WHAT WAS EVEN WORSE WAS SHE WAS
01:18:02SO DEEPLY IN DEBT FOR STUDENT LOANS THAT SHE BORROWED FROM
01:18:07THIS PHONY UNIVERSITY. SHE, WHEN I MET HER, WAS LIVING IN HER
01:18:11PARENTS BASEMENT, HAD NO FUTURE AHEAD OF HER FOR DOING WHAT SHE
01:18:15THOUGHT WAS THE RIGHT THING.
01:18:17GETTING A COLLEGE DEGREE. WHAT SHE DIDN'T KNOW, AND WHAT WE
01:18:21KNOW NOW, IS THAT THERE ARE TWO NUMBERS THAT TELL THE STORY OF
01:18:24FOR PROFIT COLLEGES AND
01:18:26UNIVERSITIES. YOU HEAR THEIR
01:18:29NAMES, LIKE THE UNIVERSITY OF PHOENIX. THAT'S PROBABLY THE
01:18:32MOST PROMINENT ONE. PEOPLE HEAR OVER AND OVER, AND YOU SEE THEIR
01:18:36ADVERTISEMENTS AND BROCHURES THAT ARE MAILED TO HIGH SCHOOL SENIORS, ENTICING THEM TO SIGN
01:18:40UP FOR THESE FOR PROFIT SCHOOLS. WHAT YOU DON'T KNOW IS THAT
01:18:44ALTHOUGH ONLY 8% OF HIGH SCHOOL
01:18:48GRADUATES GO TO FOR PROFIT
01:18:51COLLEGES AND UNIVERSITIES, 8%,
01:18:5430% OF ALL STUDENT LOAN DEFAULTS ARE THE STUDENTS FROM THESE SAME
01:18:57SCHOOLS. WHAT'S GOING ON HERE?
01:19:00SUCH A LOW NUMBER? 8% GOING ON
01:19:02TO THESE SCHOOLS IN SUCH A HIGH
01:19:05NUMBER OF LOAN DEFAULTS. THAT'S
01:19:07BECAUSE THEY ISSUE WORTHLESS
01:19:10DEGREES AND ENTICE THESE STUDENTS INTO DEEP DEBT. MANY
01:19:13TIMES, A PARENT, OR EVEN A GRANDPARENT OR COSINE ON THE
01:19:17LOANS FOR THESE FOR PROFIT SCHOOLS. AND WHEN EVERYTHING
01:19:21FALLS APART, AS IT'S LIKELY TO,
01:19:24EVERYBODY IS HELD LIABLE AND RESPONSIBLE. THAT'S WHY WE'VE
01:19:28HAD AN ONGOING BATTLE HERE IN
01:19:30WASHINGTON FOR YEARS AGAINST THE
01:19:33FOR PROFIT COLLEGE AND UNIVERSITY INDUSTRY. THERE WAS A
01:19:36LEGAL BATTLE IN A CASE CALLED SWEATT VERSUS MCMAHON, WHICH HAS
01:19:39GONE ON FOR YEARS. IT FINALLY,
01:19:42THIS WEEK CAME TO AN END, AND
01:19:45IT'S IMPORTANT CASE ON THIS SUBJECT OF FOR PROFIT COLLEGES
01:19:49AND UNIVERSITIES. IT WAS THE
01:19:51LARGEST CLASS ACTION SETTLEMENT AGAINST THE FEDERAL GOVERNMENT
01:19:55IN THE HISTORY OF OUR NATION.
01:19:57THAT'S LIFE CHANGING NEWS FOR
01:20:01NEARLY HALF A MILLION FEDERAL
01:20:04STUDENT LOAN BORROWERS, WHO WILL
01:20:06RECEIVE $23 BILLION IN RELIEF AFTER BEING MISLED AND DEFRAUDED
01:20:10BY BY FOR PROFIT COLLEGES. IF
01:20:13YOU LISTEN TO THE RADIO ON YOUR
01:20:16MORNING COMMUTE OR WATCH TV AFTER A LONG DAYS OF WORK, AND
01:20:18YOU HAVE NO DOUBT BEEN HIT WITH
01:20:22FLASHY ADVERTISING FROM INSTITUTIONS LIKE THE UNIVERSITY
01:20:24OF PHOENIX LOOKING TO LURE IN UNSUSPECTING STUDENTS. HERE'S
01:20:28THE CATCH. THESE INSTITUTIONS
01:20:31OFTEN RIP OFF THOSE STUDENTS LYING ABOUT THEIR PROSPECTS FOR
01:20:34A JOB, THEIR ABILITY TO HAVE CREDITS TO TRANSFER TO ANY OTHER
01:20:38SCHOOL, OR THEIR LIKELY SALARY
01:20:41AFTER GRADUATION. IN FACT, THESE SCHOOLS, AS I MENTIONED,
01:20:44ENROLLED ONLY 8% OF THE
01:20:46STUDENTS, BUT ACCOUNT FOR 30% OF ALL FEDERAL STUDENT LOAN
01:20:50DEFAULTS. TOO MUCH DEBT, TOO
01:20:55LITTLE EDUCATION. NPR RECENTLY
01:20:57HIGHLIGHTED THE STORY OF JESSICA FAINT OF MICHIGAN. SHE ENROLLED
01:21:00AT THE UNIVERSITY OF PHOENIX TO STUDY PSYCHOLOGY. SHE SAID SHE,
01:21:04QUOTE, PAID A LOT OF OUT OF
01:21:06POCKET AND THROUGH STUDENT
01:21:08LOANS. SHE REALIZED LATER THAT THE SCHOOL'S RECRUITMENT
01:21:11COUNSELOR HAD REPEATEDLY MISLED HER, INCLUDING BY TELLING HER
01:21:15THAT HER DEGREE WOULD BE ACCEPTED BY MICHIGAN GRADUATE
01:21:18PROGRAMS. THAT WAS FALSE. BY THE
01:21:21TIME SHE LEARNED HER DEGREE WAS USELESS, SHE WAS ALREADY
01:21:25UNDERWATER AND DEEPLY IN DEBT,
01:21:27SO SHE JOINED THIS CLASS ACTION
01:21:29LAWSUIT ORIGINALLY FILED DURING
01:21:32PRESIDENT TRUMP'S FIRST TERM TO GET RELIEF. FOUR YEARS LATER, IT
01:21:35TOOK FOUR YEARS. SHE'LL FINALLY SEE THE RELIEF, WHICH SHE WAS
01:21:39ENTITLED TO. THE FIRST TRUMP ADMINISTRATION. GO FIGURE.
01:21:43DENIED. NEARLY ALL OF THESE
01:21:45CLAIMS BY THE STUDENTS, WHICH A FEDERAL COURT DESCRIBED,
01:21:49DESCRIBED AS, QUOTE,
01:21:52DISTURBINGLY KAFKAESQUE. BUT IN
01:21:552022, PRESIDENT JOE BIDEN, HIS AND HIS ADMINISTRATION SETTLED
01:21:59THE CASE AND FORGAVE THE STUDENT
01:22:00LOANS DEBTS OF NEARLY 300,000
01:22:03BORROWERS WHO HAD BEEN DEFRAUDED. UNDER THE TERMS OF
01:22:07THAT SETTLEMENT, BORROWERS WHO WERE NOT PART OF THE ORIGINAL
01:22:10CLASS HAD FIVE MONTHS TO FILE
01:22:13CLAIMS. IF THE DEPARTMENT OF EDUCATION HAD NOT ADJUDICATED
01:22:16THE ADDITIONAL CLAIMS BY EARLY
01:22:192026, BORROWERS STILL WAITING IN LIMBO WOULD BE AUTOMATICALLY
01:22:23ENTITLED TO RELIEF. BUT WHILE
01:22:24THE TRUMP ADMINISTRATION CAN QUICKLY GREENLIGHT PERMANENT TAX
01:22:28BREAKS FOR THE WEALTHIEST AMERICANS, AS IN THEIR SO-CALLED
01:22:30BIG BEAUTIFUL BILL, THEY
01:22:33HESITATED WHEN IT CAME TO GIVING RELIEF TO THESE STUDENTS WHO
01:22:36JUST WANTED A FAIR SHOT. IN LATE
01:22:382025, THE TRUMP ADMINISTRATION
01:22:41ASKED FOR AN ADDITIONAL 18 MONTHS TO REVIEW THE STUDENTS
01:22:44CLAIMS. STUDENTS WHO WERE DEFRAUDED BY THESE SCHOOLS. A
01:22:48FEDERAL DISTRICT JUDGE SAID ENOUGH. LAST MONTH, A PANEL OF
01:22:52THREE JUDGES FROM THE U.S.
01:22:54CIRCUIT COURT OF APPEALS FOR THE
01:22:57NINTH CIRCUIT UNANIMOUSLY UPHELD
01:22:59THIS DECISION. GOOD. LIKE THEIR TACTICS WITH DACA RECIPIENTS AND
01:23:03THE SLOW WALKING OF RENEWAL
01:23:06APPLICATIONS WITH USCIS, THE ADMINISTRATION WAS ASKING FOR
01:23:09MORE TIME SO THAT THEY COULD BLEED OUT THESE BORROWERS AND
01:23:12DENY RELIEF TO HUNDREDS OF THOUSANDS OF STUDENTS DEEP IN
01:23:16DEBT, LIVING IN THEIR PARENTS BASEMENT, TRYING TO FIGURE OUT
01:23:19IF THEY HAD A FUTURE. THIS IS
01:23:22WHERE THE PRIORITIES LIE. I'M GLAD THESE BORROWERS, AFTER
01:23:24YEARS AND YEARS OF WAITING, WILL FINALLY GET THE RELIEF THEY ARE
01:23:27ENTITLED TO, MR. PRESIDENT, FOR
01:23:31THE LAST 15 YEARS OR MORE, I'VE
01:23:34SENT A LETTER TO EVERY HIGH SCHOOL COUNSELOR IN THE STATE OF
01:23:38ILLINOIS. I SENT IT ABOUT THE FIRST OF THE YEAR AND WARNED
01:23:41THEM, BE CAREFUL NOT TO LET YOUR
01:23:45STUDENTS BE LURED INTO THESE FOR PROFIT COLLEGES AND UNIVERSITIES. THEY'RE GOING TO
01:23:48SEND THEM BROCHURES. THEY'RE GOING TO TEAM THEM UP WITH ALL
01:23:51SORTS OF THINGS ON THE INTERNET.
01:23:54IT'LL BE A DAZZLING DISPLAY ABOUT A COLLEGE, WHICH IS NOT A
01:23:58REAL COLLEGE. IT'S A FOR PROFIT COLLEGE AND UNIVERSITY. BE
01:24:02CAREFUL. THE THE MONEY THAT YOU
01:24:05SPEND, THERE MAY BE A TOTAL WASTE OR WORSE. IT COULD BE A
01:24:09DEBT THAT TRAILS YOU FOR YEARS
01:24:10AND YEARS, IF NOT DECADES, IN
01:24:13YOUR LIFE. THANK GOODNESS FOR THESE STUDENTS, THESE THOUSANDS
01:24:17OF STUDENTS WHO WERE BENEFITED BY PRESIDENT BIDEN'S DECISION.
01:24:20THE COURTS FINALLY STOOD BY THEM
01:24:22AND GAVE THESE STUDENTS A SECOND CHANCE. IT'S BEEN A SITUATION
01:24:26I'VE RUN INTO TIME AND AGAIN, I HAVE THREATENED SOME OF THESE
01:24:29FOR PROFIT SCHOOLS AS A WAY OF
01:24:31GETTING THEM TO DROP THE LOANS
01:24:34THAT THEY WERE ENFORCING ON THESE STUDENTS, BECAUSE I KNOW
01:24:38WHAT HAPPENS IN THE END.
01:24:39STUDENTS NEED TO BE CAREFUL. YOU
01:24:42CAN'T GO WRONG. STARTING WITH
01:24:44CITY COLLEGES AND COMMUNITY COLLEGES IN YOUR COMMUNITY.
01:24:47IT'S AFFORDABLE. THERE ARE ALTERNATIVES THERE. MOST OF THE
01:24:51TIME, THESE HOURS THAT YOU EARN, THERE ARE GOING TO BE
01:24:53TRANSFERABLE TO REAL COLLEGES
01:24:56AND UNIVERSITIES. I BEG MY YOUNG STUDENTS IN ILLINOIS TO START
01:24:59THERE, AND THE STUDENT COUNSELORS TO DO THEIR JOB AND
01:25:03DISCOURAGE KIDS FROM GETTING INVOLVED WITH THESE FOR PROFIT SCHOOLS.
01:25:07>> I AM GRATEFUL FOR YOUR
01:25:09RECOGNITION, MR. PRESIDENT. UM.
01:25:13I'M TRYING TO WANT TO TRY TO GET THIS ORDER RIGHT, AS IF IN
01:25:16LEGISLATIVE SESSION. UM, I'M
01:25:19GOING TO GIVE SOME REMARKS AND THEN ASK FOR A UNANIMOUS CONSENT
01:25:22ON A BILL. UM, BUT I REALLY WANT
01:25:26TO FIRST TALK ABOUT SOMETHING REALLY CHALLENGING AND TRAGIC
01:25:30THAT HAPPENED IN THE STATE OF
01:25:32NEW JERSEY. UH, EDWIN LOPEZ
01:25:36CORNEJO DIED. HE IS DEAD. AND
01:25:40IT'S A DEATH THAT DID NOT HAVE
01:25:41TO BE. HE WAS DETAINED BY ICE ON
01:25:46JUNE 18th. HE WAS SENT TO
01:25:47DELANEY HALL IN MY HOME CITY IN
01:25:51NEWARK, NEW JERSEY, A DETENTION
01:25:54CENTER. AND HE NEVER CAME OUT
01:25:57ALIVE. 20 YEARS, 20 YEARS. EDWIN
01:26:01LIVED IN THE UNITED STATES OF
01:26:03AMERICA. 20 YEARS OF BUILDING A
01:26:05LIFE HERE, 20 YEARS OF BEING
01:26:09CONNECTED TO PEOPLE AND
01:26:09COMMUNITY. 20 YEARS OF. MAKING
01:26:17HERE IN AMERICA A WAY FORWARD. AND YET, IN LESS THAN TWO MONTHS
01:26:20OF DETENTION, THE IMMIGRATION
01:26:24SYSTEM IN OUR COUNTRY LED TO HIS
01:26:30DEATH. AND IN DELANEY HALL, HE'S THE THIRD PERSON IN NINE
01:26:33MONTHS TO DIE. THE 23rd PERSON
01:26:36TO DIE IN ICE CUSTODY THIS YEAR.
01:26:40NOT THE FIRST WARNING SIGN, NOT
01:26:43THE SECOND. THIS IS THE THIRD DEATH AT THE SAME FACILITY. AND
01:26:46YET, NOTHING CHANGES. LET ME
01:26:49TELL YOU EXACTLY HOW EDWIN LOPEZ
01:26:53CORNYN CORNEJO DIED, BECAUSE HIS
01:26:57FAMILY DESERVES TO HAVE HIS NAME SAID ON THE SENATE FLOOR, AND
01:27:00HIS STORY TOLD PLAINLY, EDWIN
01:27:05HAD DIABETES. HE HAD HIGH BLOOD
01:27:07PRESSURE. HE NEEDED HIS
01:27:09MEDICATION TO SURVIVE, AND
01:27:12DELANEY HALL DENIED IT TO HIM.
01:27:14THE DAY BEFORE HE DIED, HE TOLD
01:27:17HIS MOTHER THAT HIS ARM HAD GONE
01:27:20NUMB. HALF HIS FACE HAD GONE
01:27:23NUMB. AND UNDERSTAND THIS IS NOT
01:27:26A MINOR COMPLAINT. THIS WAS A
01:27:29MAN THAT WAS HAVING A MEDICAL
01:27:31EMERGENCY, TELLING SOMEONE
01:27:33EXACTLY WHAT HAPPENED TO HIS
01:27:36BODY. DID ANYONE COME TO HIS
01:27:38AID? NO. DID HE GET HIS
01:27:43MEDICATION? NO. LESS THAN 24
01:27:45HOURS. HE WAS DEAD. DOCTORS HAVE
01:27:52WARNED US. ATTORNEYS HAVE WARNED
01:27:53US. IN NEW JERSEY, FAMILIES HAVE
01:27:56WARNED US. A CHORUS OF PEOPLE IN OUR COMMUNITIES, NOT
01:28:00POLITICIANS, NOT POLITICAL
01:28:03ACTIVISTS, DOCTORS, LAWYERS HAVE BEEN WARNING US THAT DETAINEES
01:28:06WHO WALKED OUT OF THAT BUILDING
01:28:12WITH THEIR TESTIMONY AND THE FACTS AND THE EVIDENCE, PEOPLE
01:28:15HAVE SAID OVER AND OVER AGAIN
01:28:17THAT THIS FACILITY IS DANGEROUS.
01:28:20IT IS NOT WELL RUN, AND WITHIN
01:28:22IT IS A PATTERN OF DISREGARD FOR
01:28:27HUMAN DECENCY. DHS HAS KNOWN
01:28:30THAT DELANEY HALL IS NOTHING
01:28:33SHORT OF A TRAVESTY. SINCE THEY
01:28:36REOPENED IT OVER A YEAR AGO. SO
01:28:40WHO RUNS WHAT IS FOR SO MANY A HOUSE OF HORRORS? WHO RUNS THE
01:28:43INSTITUTION THAT I SAW WITH
01:28:45MYSELF WHEN I WENT THERE AND MET
01:28:47PEOPLE? THIS IS NOT FOR SERIOUS CRIMINALS. THIS IS NOT A PLACE
01:28:51FOR FOLKS WHO'VE DONE SERIOUS CRIMES IN OUR COUNTRY. THIS IS A
01:28:55DETENTION FACILITY FOR PEOPLE. MANY OF THEM HAVE BEEN IN OUR
01:28:59COUNTRY FOR DECADES. MANY OF
01:29:03THEM HAVE AMERICAN SPOUSES, AMERICAN CHILDREN. AND WHEN I, WHEN I WENT THERE, I SAW MOTHERS
01:29:05WHO WERE RECENTLY POSTPARTUM WHO WERE NOT GETTING THE SUPPORT. I
01:29:09SAW A WOMAN WHO LOST HER CHILD
01:29:12WHILE IN THAT DETENTION FACILITY, HAD A MISCARRIAGE
01:29:15THERE, AND DID NOT GET THE SUPPORT THAT SHE NEEDED. STORY
01:29:18AFTER STORY, PEOPLE TOLD ME OF
01:29:21WHAT IS GOING ON THERE, THE
01:29:22HORRORS THAT ARE GOING ON THERE,
01:29:28AND WHO RUNS IT. UNITED STATES GOVERNMENT DOES NOT RUN THAT
01:29:31CENTER. IT IS A PRIVATE GROUP
01:29:34CALLED THE GEO GROUP, A PRIVATE,
01:29:38FOR PROFIT PRISON THAT HAS HIGH
01:29:42LEVEL REPUBLICAN OFFICIALS AMONG
01:29:45ITS FORMER EMPLOYEES THIS GROUP
01:29:49WON $1 BILLION CONTRACT, NO
01:29:52COMPETITION, NO BIDDING, LOTS OF
01:29:59CAMPAIGN CONTRIBUTIONS, A PHONE CALL, A SIGNATURE, AND THEY HAVE
01:30:01$1 BILLION OF TAXPAYER MONEY.
01:30:04NEW JERSEY HAD TO SUE THIS
01:30:07COMPANY JUST TO GET HEALTH
01:30:09INSPECTORS THROUGH THE FRONT
01:30:12DOOR OF A FACILITY OPERATING ON AMERICAN SOIL, FUNDED BY
01:30:16AMERICAN TAXPAYERS. AND OUR STATE COULDN'T EVEN DO BASIC
01:30:20HEALTH INSPECTIONS. THEY DID NOT
01:30:23GET THEY DID NOT GET THE PERMITS
01:30:28TO OPEN THAT PLACE. THEY DID NOT HAVE INSPECTIONS BEFORE THEY
01:30:32DID. SO THIS IS A PRIVATE
01:30:35COMPANY TAKING $1 BILLION OF
01:30:38AMERICAN TAXPAYER MONEY. THE LESS THEY PROVIDE SANITARY
01:30:41SERVICES, THE LESS THEY PROVIDE
01:30:45DOCTORS AND MEDICAL PROFESSIONALS, THE MORE PROFIT
01:30:46THEY MAKE OFF OF TAXPAYERS, AT
01:30:49WHOSE EXPENSE? AT THE DECENCY OF
01:30:52AMERICAN PEOPLE, AND THE EXPENSE
01:30:55OF THE LIVES OF THE PEOPLE WHO