Bill O’Reilly’s No Spin News and Analysis - Trump’s Tariffs Explained, Miranda Devine Dissects Mamdani Voters, Nancy Pelosi’s Future, & Medicaid Spending Under Review

Episode Date: November 5, 2025

Hey BillOReilly.com Premium and Concierge Members, welcome to the No Spin News for Tuesday, November 4, 2025. Stand Up for Your Country.  Talking Points Memo: Bill explains trade deficits and whether the Supreme Court will invalidate Trump’s tariffs. Host of PodForce One and columnist Miranda Devine joins the No Spin News to talk about what a Zohran Mamdani victory could mean for NYC and who’s backing him. Bill reviews the latest poll asking Americans about their pride in their country and the quality of life in the U.S. Will Rep. Nancy Pelosi (D-CA) run for re-election? Dick Cheney dies at age 84. The Trump administration intends to reclaim over $1 billion in federal funds currently used for Medicaid for undocumented immigrants in Democratic-led states. Final Thought: Watch Bill on NewsNation tonight at 8 PM ET with Chris Cuomo.  Learn more about your ad choices. Visit megaphone.fm/adchoices

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19 plus Ontario only. Please play responsibly. Concerned by your gambling or that if someone close, you call 1866-3-3-1-2-60 or visit comixonterio.ca. Hey, Bill O'Reilly here. Welcome to the No Spin News, November 4th, 2025, Election Day, stand up for your country. Those who are voting today are standing up for their country. It's pretty easy. My polling place out on Long Island, pretty quiet. We're not involved directly with the New York City vote.

I understand it was Bedlam in the city. Maybe it's not going to break a record for mayoral turnout, but it's going to be more than the recent past. That's for sure. And we'll get into that a little bit because of the communist aspect to it, which is engaging the whole country. And tomorrow we'll analyze the results. It's not a lot. And it's not going to be a big lookout. out, you'll get that phony stuff on cable, TV news, oh, this is a harbinger of the midterms.

That's a bunch of BS, because so many things are going to change in the next 11 months. It's going to be guaranteed to be startling because President Trump is moving so quickly on so many fronts, and the courts have to issue rulings. And we're going to get into the most important ruling on the tariffs. in the Talking Points Memo right now. So the tariffs is a national security situation. It has not been portrayed that way by the corrupt media, but it is.

If you have a country that is declining economically, that is a threat to your security. So Germany, for example, is in bad, bad shape economically because of its woke posture and quasi-socialism. The United States is fairly strong. Stronger than Russia and China are adversaries. But if we were to have a recession here,

and that, remember, led to the election of Barack Obama, then we would be weakened. So President Trump is determined not to let that happen, and he has instituted these tariffs to state to stop the federal trade deficit. Now, when I say those words, federal trade deficit, I know you're either gonna change a channel or your eyes are glazing over,

and if you're older, you may have passed out already. I know how boring this is. I am going to make it, I can't promise it'll be exciting, but it won't be boring. So a trade deficit is when the United States sends more money, corporate money, out than it takes in. And the deficits for us over the past 10 years have been astronomical. So here are the numbers, beginning in 2017. This is Trump.

$552 billion deficit. 621 next year, 617, 679. Okay? So Trump in his first term ran big trade deficits, but nothing like Biden. Biden comes in. First year, 861. Second year, almost a trillion dollars, 945. Then 773, then 918 in his last year. Why? He didn't pay attention. Biden could not care less. He wasn't even able to assess those kinds of numbers. but massive amounts of money were going out of the country to our enemies, to our enemies. Biden sent billions to Iran by unfreezing their money, and China was rolling in dollars. So Trump gets back in and goes, I'm going to stop this. The only way he can stop it is to charge other countries a fee.

a tariff to do business here because the United States consumer buys more stuff than anyone on earth by far. Because we got more assets. We have more money, you socialists and communists. We're a consumer-based economy. That means we buy. Companies prosper. China's not consumer-based. Nobody has any money there. They're export-based. So their money comes from shipping stuff here, we buy it, and the money goes back to China, and then they hire another million soldiers. Do we all understand? I don't think that was boring. I hope it wasn't. All right, so that's Trump's philosophy. In addition, this year, the U.S. Treasury will receive about a half trillion dollars in tariff money. That'll go right into the Treasury. Now, I

wish, and if I get to interview Donald Trump, that'll be one of my first questions. Where is that money going to go, Mr. President? What are you going to do with that money? We still have a big trade deficit. Where's it going? Rainy Day Fund? You're going to invest or what is going on with the half trillion that you've raised with the tariffs? We the people have a right to know that. I don't know it. Nobody's told me. Nobody will say anything. That's not right. Okay. Now, examples of how we get screwed in the trade deficit. So as you know, in May, I was in Japan, China, and Korea. I saw maybe, and I was around, I was moving around. Maybe I saw 10 American cars in the three countries. Ten. No American cars on a road or trucks or vehicles or anything. None. That's how we're getting screwed. Take a ride on any U.S. highway.

Toyota, hello, Mercedes, all over the place. All right. In fact, the United States sells only 5% of the cars that the Chinese people 1.5 billion drive. And those are probably Chinese American people over there. 5%. Okay. Japan last year bought. 17,000 U.S. vehicles.

Now, is it? 17,000. They're not cooperating by taking our stuff. So therefore, Trump slaps them with tariffs. Do we all get in this, please? I don't have to do this again. I really don't. Now, Trump administration is being sued, okay, by the people who hate Trump,

the Democratic Party and all their apparatchetics. And it's in the Supreme Court. The Supreme Court has to rule. Now, they've got a rule in Trump's favor. I'm going to prove it to you right now. And nobody knows this. Because, again, it's too boring for the media to even contemplate this. You know what the Trade Act of 1974 is?

I know you don't because I didn't until my crack research staff handed it to me. The Trade Act of 1974 signed by President. President Gerald Ford says there are three sections. 301 allows tariffs in response to unfair trade practices, okay? Section 201 permits tariffs if a U.S. industry is seriously injured by surging imports. 1-2-2 authorizes temporary tariffs to address significant balance of trade deficits, and it gives power to the President to do all that. Do we, hello, okay, trade act in 1974? Now, the Supreme Court cannot rule that unconstitutional, all right?

But it can limit certain parts of it, which it will. But it's going to allow Trump to have a lot of rain in slapping tariffs because the law is already there. If Congress doesn't want the law, pass a new law, pass a new tariff law. That's what the Supreme Court's going to say. Because the judges, the nine of them, they're not lawmakers. They uphold what's already been put into the system. So it's almost impossible for me to believe that the Supreme Court will say to Trump, no, you can't have your tariffs.

Thank God, because if that ever happened, there would be a severe recession in this country. Now, I'm just going to play you one stupid soundbite from Congressman Jason. Crow, Colorado, okay? Mr. Crow should not be sitting on Capitol Hill. He's not smart enough to be there. Roll the tape. Well, part of the problem with the tariffs is that Donald Trump is largely using tariffs. I'm glad you raised that because he's actually largely using tariffs to enrich himself and his family, right? They are using the threat of tariffs to strike golf course deals around the world. That's not true. There's not. There's not. a shred of evidence of that. So the man goes on CNN or MSNBC, they're both the same, and lies.

And the people in Colorado don't care. But there's no evidence that the tariffs are benefiting your Trump family at all, none. We researched it very thoroughly. Now, Nora O'Donnell on Sunday 60 minutes, she knows kind of what the tariff thing is. She doesn't know, I can guarantee you, about the Trade Act of 1974. But here's the exchange with President Trump. Go. What happens to your economic plan if the Supreme Court invalidates your tariffs? I think our country would be immeasurably hurt. I think our economy will go to hell. Look, because of tariffs, we have the highest stock market we've ever had. Because of tariffs, 401k's at the highest level, and this is millions and millions of people that we've ever had, 401Ks. I think it's the most important

subject discussed by the Supreme Court in a hundred years. But I can tell you the president's pretty confident he's going to prevail here. All right, and I believe he will as well. So, summing up, this is an extremely important story for you and your family. Because should the Supreme Court say rule, no tariffs are illegal, president doesn't have power to do that, you'll see the stock market down 5 to 10,000 points, and it'll be just Armageddon chaos. And that's a memo. Okay, I have a couple of polls, and we'll get to our guest. Atlas has the New Jersey gubernatorial race, a dead heat.

I can't predict this stuff. I mean, I just don't pay close enough attention to the states. I don't have time to do it. Mikey Cheryl, Democrat, Jack Chirrelli, looks like Chittarelli has some kind of momentum here. If I had a bet, I bet on him. Virginia, the Democrat's going to win Spanberger because the Republican Earl Sears is not a good candidate. So Virginia, that's not even going to be close. In New York City, Mandami will probably win, but he's a communist.

So how do I know that? Because, you know, all alone, no, he's not a communist. He is a communist. Now, I was going to run a soundbite, but I'm not going to run it. I'm going to quote it. Okay? So this is Mandani in 2021 at the Young Democratic Socialists of America Conference. Here's what he said. He said, right now, there's a quote, if we're talking about issues that have groundswell of popular support across the country, let's face it, the U.S. economy is under stress. National debt rising, trade war, shaking the market, markets. And meanwhile, China is dumping the dollar and stockpiling gold. That's why I protected my savings with physical gold and silver through the only dealer I trust, American Hartford Gold. And you can do this. Get precious metals delivered to your door or place in a tax advantage, gold IRA. They'll even help you roll over your existing IRA or 401K, tax and penalty free. With billions in precious metals delivered thousands of five-star reviews, and an A-plus from the Better Business Bureau, you can trust American Hartford Gold as I do.

Please call 866-326-55-7576 or text bill to 998899. Again, that's 866-326-5576 or text bill to 998899. Attention podcast people. I'm Harry Cole and I'm invited to something properly different. Something urgent, something real. It's called Harry Cole Saves the West. If you're tired of limp commentary and afraid to offend punditry, then this is the show for you. We're taking sledgehammers to sacred cows and battling the malign forces tearing apart the US and UK. From open borders to cultural collapse to economic chaos to the threats to national security, the values and freedoms of the West are under siege like never before.

This is the show where American grit meets British backbone. We will defend faith, family, freedom and the future of the West with bold, unapologetic truth-telling. So if you're ready to push back, ready to stand tall, ready to laugh at the madness, then hit subscribe. Harry Cole saves the West right now. Available wherever you get your podcasts. The fight back starts here. And yes, bring the popcorn. There are issues that we firmly believe in, whether it's B-D-S, okay, B-D-S,

is boycott, divestment, and sanctions against Israel, okay, or whether it's the end goal of seizing the means of production, unquote. Seizing the means of production. That is a communist tenant, seizing by force, because regular folks like me are not going to give you my house. So you have to take it, and guys with guns would have to come. That's communism. That's what happened in China with Mao Zetong, in Russia, with Stalin, in Cuba, with Castro. If you read Confronting Evil, it's a big part of the book, how these communist totalitarians murdered millions, tens of millions of people to seize the means of production. This is what this guy, Mandani, is quoting, yet he may be the next mayor of New York City.

Frating, yes, it is. Joining us now from the city, Miranda Devine, columnist from the New York Post. The Post has been 100% against Mamdani from the very beginning. Miss Devine has a very popular podcast, Podforce One. She interviewed a lot of the Trump administration, including the president himself. All right, so look, it's all established that you and your newspaper, and you hate Mamdani, you don't want him, he's destructive, and all of that. There's an all adage that says you hope for the best, but you plan for the worst. You live in New York City, Miranda.

Have you made any plans or adjustments of what you might do in your life? Should Mamdani become the mayor? Not really. I mean, we've lived through de Blasio when the city visibly went downhill very quickly. And then, of course, the pandemic when it became like the night of the living dead with a whole lot of zombie drug affected mentally ill people wandering the streets and a whole lot of inmates released from Rikers Island. And then, of course, we had a whole bunch of illegal migrants placed in hotels all around midtown. So it's been, you know, pretty willing for the last, well, almost since I arrived here back in early 2019. So I think that we're expecting if Mamdani wins, that things will go south slowly. I mean, already the NYPD is a shadow of its former self.

You can just tell from the fact that there are so many women, so many small. police officers who just stand around reading their phones. Now, Jessica Tisch, who's the very good NYPD commissioner after a series of upheavals, Ram Darni was forced into saying that he would probably keep her on, which is one bright stuff. She's not going to stay. Well, he knows that she's going to be his foe in the next election. So I don't think he's going to want to keep her on anyway,

so I'm sure he'll make life miserable for her. And, you know, that's the last piece of good news that we have about keeping the NYPD together. And I must say under Eric Adams, things started to look up on the crime front. But, you know, Mamjani is on record. He's pretending now that he didn't really mean it or he's changed his mind.

Yeah, yeah, yeah. Well, we know that he doesn't want to prosecute criminals because he believes society is at fault, not them. But you say you haven't made any plans or thought about it. So I have family members who live in New York City. And I said, look, if this guy comes in within six months, you're going to have a frightening rise of street crime. Because the people committing the street crime aren't even going to be arrested. I wouldn't be surprised if the 911 system collapses. because there's not enough police now

and the police that are going to stay, many of them will leave, are going to be reactive, they're not going to be aggressive, they're not going to be running out there as fast as they can run out there because he's going to have civilian view boards that are anti-police

and if a cop makes a mistake, all right, defends himself or herself, he's right in front of the board and you can sue the cops if you're a thug or anybody. Who's going to do that? No one.

So I'm telling my family members, look, you're going to go out at night. You're going to have to go out three or four. You can't go out by yourself. That's number one that's going to happen. Number two, the garbage isn't going to be picked up. Union people are just going to go, you know, every bit of efficiency. And the city is not efficient, okay, is going to go down because this 34-year-old, he doesn't have the organizational capacity to keep it up.

It's the largest city in the country, eight and a half million people, all right? And he knows it's going to get it worse, the poor. The people who are voting for Mandani are going to get it the worst. They're not actually voting for him. They're voting for Cuomo. Well, you're going to see, though. And young people who are voting for Mamdani. And the majority of York doesn't want you.

You're going to see immigrants, people born overseas, which is now, 50% of the New York City electorate vote for Mandani. You'll see any exit polling. Okay, they're going to get a war. One million Muslims will, yes, because he's gone out by that vote. As a New York post columnist and your beat is the city,

do you believe that the people voting for Mamdani are stupid? No, I'll tell you the way I see it. First of all, he's got the Muslim vote locked up because he's appealed to them specifically

on identity grounds. He's gone to, you know, mosques and cuddled up with this radical imam who gave character testimony to the blind sheikh, who was the mastermind of the First World Trade Centre bombing. He's made no, he's not even bothered hiding his affinity with radical Islam. So that's number one. And then you've got young people. And I mean, in a way, I can forgive them for their stupidity because, you know, they haven't been taught in history, they haven't read your books, they haven't, they've gone to university and been brainwashed. And not only that, as Democrat voters, they have been betrayed. And I don't really blame them for being angry. They look at Washington, D.C. They were lied to about Joe

Biden. They see a gerontocracy has taken over their party establishment. And so, So it's just natural for them to feel they've been priced out. They have this pied piper, Mamdani comes along and says to them, you know, sort of taps into their grievance about the party and says, follow me and I will make your life affordable. And he makes these airy promises. There's no way he can fulfil any of them. But they're angry with the establishment, so they're going to go with a generational part.

And then you've got just the crazy, rich, liberal elite, including a lot of Jews, which, as someone said, is like chickens voting for KFC. But they, you know, are going to vote. The polls show we've seen interviews with them. I've talked to them. They love Mamdani. And they see him as sort of the antidote to Donald Trump and a reinvigoration of the Democratic Party in the way of the future. Do you see, and that's a very good analysis. that you just gave the rest of the nation

that doesn't live here. Do you see an anti-Trump vote in the New York mayoral situation? Get no frills delivered. Shop the same in-store prices online and enjoy unlimited delivery with PC Express Pass. Get your first year for $250 a month. Learn more at pceexpress.ca.

Yes, certainly in that liberal boomer demographic, the wealthy elites. You know, Trump derangement is very strong here in New York. And there's a big cohort of conservative voters. And Donald Trump increased his vote last election. And I mean, every county has turned a little red. And to the point where Elise Stefarnik, who seems to be running for governor, she may have a chance where Lee Zeldon did not. But still, the majority, I mean, Manhattan or New York City is something like 70% plus Democrat voters. And I would say, you know, and more than half of those are Trump deranged. Yeah, and the younger ones, of course.

All right, Miranda, thank you very much. Nice segment. We appreciate you taking a time. I hope we can talk again soon. Thanks, Bill. Okay. As Miranda reference, the shooting victims in New York City. that's really the crime stat you want to zero in on.

Because the other crime stats are bogus that they're giving you. But victim is a victim. If you're shot, that gets recorded. So they're down pretty big in New York. And the reason they are is because Commissioner Tisch, who I don't believe is going to continue if Mandani is a new mayor, has reorganized the violent neighborhood patrolling. So you flood the zone, all right?

That's what Trump did in D.C. with the Guard and the U.S. Marshals and the FBI. There's just certain neighborhoods where all the violence takes place. Where you just flood the zone with law enforcement, and boom, the victims are going to go down. Chicago can't figure that out, doesn't care, all right, and that's why you don't have much relief there. But in New York City, crime victims are down this year fairly big. All right, mood of the nation, again, what happens today, and we will have our analysis tomorrow, is not going to influence the midterms at all. So once you hear that, just change the channel. Come on over to bill o'Reilly.com and get the truth.

All right, this is Politico poll. First question when it comes, which comes closest to your view, I'm proud to be an American. 64%. Shame to be an American 36, a high number. I think Trump drives that a little bit on the left. Would you say the following are better or worse than they were five years ago? Political polarization, better, 16, about the same 26, worse 59. It is obviously worse than it was, okay?

Five years ago, I don't know, but it's worse. Quality of life in America is better now. 24, about the same 23, worse, 54. That is high prices. Okay? My local deli raise their prices again. They want $14 for a ham and cheese sandwich. Not going to do it.

I'll make my own ham and cheese sandwich. I can afford 18 ham and cheese sandwiches, but I'm not going to do it. 14 bucks, maybe four slices of ham and some mustard cheese and mustard on a roll. Come on. And if everybody are like me, then the prices have to come down. Final question, state of the world. Okay, better 20%. About the same 18, worse 62.

So kind of a grim poll. Nancy Pelosi, it's not going to run again. She's 85. It's hanging it up. So I can hear the applause coast to coast. Now, I met her once in a White House. I said, hey, Madam Speaker, I got to get you on, the O'Reilly fact. Oh, I'd love to do it.

I thought her husband was going to collapse. I don't know that she knew who I was. I swear to God. And then I sent Waters to a press conference when she wouldn't do it, the interview. And he goes, you said to Bill O'Reilly face to face, why is you do the interview? And Pelosi goes, well, I have. You know, so anyway, we don't, we've never had a lot of respect for her. So here's what she said on Monday about Donald Trump.

Go. Our founders did not want to have again, how can I say this? It'll sound like I'm awful about Trump because he's just a vile creature. The worst thing on the face of the earth. No, that's nice. enables hatred division you know she didn't care but she care she's playing to her san francisco district you don't care if she incites anything boy anyway the country's much better if she just packs it and then you can see the reason that she stayed on so long is that then she

couldn't make as much money in the stock market with the insider stuff so now she has to trade like everybody else as a cheap shot no it isn't dick cheney dead at age 84 never interviewed him he despised the press very rarely would he give an interview knew him um but uh boy did he hate all the press born 1941 nebraska went to yale then he got a grad degree at we was here Wisconsin. It became the congressperson from Wyoming, six terms. He was the youngest White House Chief of Staff under Gerald Ford. That's before he went to Congress. He was very, very smart, obviously. 89 to 93 defense secretary under Bush got us into Iraq. Dick Cheney did. Didn't know how to get us out. 2001 and 2009 VP under Bush.

I'm sorry, the 89 to 93 was under Bush the Elder. Okay, he got us into Iraq under Bush the Younger. At Desjardin, we speak business. We speak startup funding and comprehensive game plans. We've mastered made-to-measure growth and expansion advice, and we can talk your ear-off about transferring your business when the time comes. Because at Desjardin business, we speak the same language you do. Business.

So join the more than 400,000 Canadian. entrepreneurs who already count on us and contact Desjardin today. We'd love to talk business. The problem with Dick Cheney was that he saw life in black and white. This is my analysis. And then when complicated things would come up, like he was a true believer that the Iraqi people wanted independence. They wanted to be free. and Rums felt the same way, and they talk Bush to Younger into it. They go, no, no, no, they'll embrace democracy. There was never a shot at that.

Iraqi people don't want democracy. Neither do the Afghan people, neither do the Persians. They don't want it. They don't value it. You can't force it upon them. And that was a big historical mistake. Anyway, Dick Cheney was a patriot, and again, did it. age 84.

Shut down day 35. Delay, flight delays yesterday, nearly 5,000. Cancellations 84. Another vote today failed. Okay, Senate voted 11.30 a.m., nobody will move. 35 days. Okay? More than 3 million Americans have been affected by air delays.

I got to fly out tomorrow. I'm just praying that I get out there to L.A. Trump administration. So this is a very, very interesting story. There is an organization called the Centers for Medicare and Medicaid. It comes under the Department of Health and Human Services, Bobby Kennedy, Jr.

All right. They say that $1 billion, with a B, has been given to illegal aliens for health care, primarily by red, blue states, okay? The chief offenders, California, Colorado, Washington, State, Illinois, and Oregon. Okay, I've misused with $1.3 billion, and now the federal government wants that money back. Now, you know, the Democratic Party denies that any federal or Medicaid money, because that's federal match, the states on Medicaid, goes to undocumented people. Roll it.

Undocumented immigrants do not get federal health insurance. Premiums. Period. Period. They're lying. This is a common lie that Republicans have been repeating that this shutdown is about Democrats trying to provide health care to the undocumented. Now, federal law clearly prohibits the expenditure of taxpayer dollars to provide health care to undocumented immigrants. Well, now we have the proof

that the states are basically given the finger to the federal law and nobody's doing anything about it. Okay? That's it. And those people know that. They gave the system. Now, how are they going to get the money back

from the states? It's not clear. Bobby Kennedy Jr. has got to come up with something. They're never going to get the money back from the states. All right. Final thought in a moment. Okay, final thought. I'll be busy all night. I'm busy all day. I need a nap. News Nation. Now, depending on how much Cuomo bloviates off the top of the show, I'll be on the lead guest at 8 o'clock. Okay? Then I'm going over to WABC Radio, our flagship 930 with Rita Cosby.

The results will be in on WABC radio. You can listen to it anywhere in the world. Just punch up, WABC Radio Live. Boom, you can listen. That's the technology. So I'll be there at 9.30 News Nation 8. And then tomorrow we'll have analysis of what happens today. Thank you very much for watching and listening this evening. I'm Bill O'Reilly.

We will see you on Wednesday.