The Dan Bongino Show - Ep. 807 Is the DOJ Hiding an Even Bigger Scandal?

Episode Date: September 14, 2018

Summary: In this episode I address the explosive allegations that the DOJ and the FBI may be hiding a more widespread abuse scandal. Finally, I discuss the disastrous budget situation and the effects of tax policy.    News Picks: Is Bob Mueller sweeping under the rug decades of illicit government spying?   The federal government collected record amounts of tax revenue, yet it's still running a massive deficit.   Dan Horowitz’s new piece details the disastrous new budget plans.   In August alone, the federal government ran a $200 billion-plus deficit.   This is a really bad sign for the NFL.    If John Kerry isn’t guilty of a Logan Act violation, then this ridiculous law should be repealed.   The Obamacare Medicaid expansion is a lesson in economic mismanagement.   Copyright CRTV. All rights reserved. Learn more about your ad choices. Visit podcastchoices.com/adchoices

get ready to hear the truth about america on a show that's not immune to the facts with your host dan bongino all right welcome to the dan bongino show producer joe how are you today it's friday i'm doing great it is friday it is a friday or as dana lash calls it on the nra tv show a friday which i always see her do. Is that a thing? I'm so not hip into the culture stuff there, you know, friee. But, hey, listen, God bless all those folks out there in the Carolinas. It looks like it's going to be a pretty significant wind event and an even more significant rain event. So stay safe, stay frosty out there.

And despite the, you know, folks on some side say, oh, don't say thoughts and prayers. No, prayers do matter. I believe that. And I'm not going to be dissuaded from saying that at all. So our prayers are with you. Mine are most definitely with you. You bet. And I hope everything turns out okay.

But it does look like it's going to be, at a minimum, a significant rain and water event over there, and it's a big deal. Like I said, we live in a hurricane zone here, so God bless you. All right, I've got a lot to talk about today, and I want to start with something I saw on television last night that reminded me of what happened to me. It's an experience I had in the Secret Service I want to share with you. I think it's important. Before we get to that, of course, we get to pay for the Service. I want to share with you. I think it's important. Before we get to that, let's get the, of course, we're going to pay for the show. We appreciate your patience with everything. Hey, taking care of your health is a commitment that can feel overwhelming. That's why I've been loving my Omax 3 Ultra Pure Supplements, the best fish oil on the

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Get a box of OMAX 3 Ultra Pure for free with your first purchase. That's tryomax.com. Get a free box of OMAX 3 with your first purchase. Tryomax.com. Okay. Last night, I'm watching, I don't usually watch ESPN anymore because of their liberal bent.

I try to stay away from it. But they had a show on last night about sports after 9-11. And just quickly, I wanted to share something with you because it really mattered to me. They had played some footage of sporting events that had happened

in the immediate period post 9-11. The Army-Navy game, the World Series, some hockey events that had happened in the immediate period post 9-11. The Army-Navy game, the World Series, some hockey events that had happened. And it was really touching to watch because my wife and I, I don't share a lot of personal stories with you, but I think this is important and you maybe see where a lot of my worldview comes from. My wife and I, our relationship began 10 days before 9-11. So the 9-11 horror has a unique place in our relationship. She worked at 120 Broadway, my wife,

which was right outside of the pit, right next to the building. I mean, her office, you can look down and see what were the World Trade Center area right there. She used to shop down there. She worked down there forever. And we met on a blind date, and I was instantly taken by her. And I told you today, I didn't want to be a weirdo,

but when 9-11 happened, even the day of, my first instinct was to call her, even though we'd only been dating, gosh, nine days. I mean, I'd only seen her like two or three times. So I called her and I called her house and I called her house and she didn't answer. And I was worried because I knew she worked at 120 Broadway. Well, it turned out she was in Las Vegas visiting her mom who had lived out there at the time. And she just couldn't get back and the phone lines were all clogged up. So I didn't want to be a weirdo. But finally, I found out where she was and I was incredibly relieved. But our relationship has always been

married to that date because we met right around there. But one of the things that happened to me is right after we met, about a month later, I was a Secret Service agent. I got an assignment and that assignment was, I never forget, I got an email saying, hey, you need to, I was a Yankees fan at the time, and you need to report as a poststander to Yankee Stadium for, what was it, game three, I believe, of the Yankees Diamondbacks World Series. Now, keep in mind, this is October 7th or so.

This is just less than a month after 9-11 happens. President Bush was going to go out and throw the first pitch at Yankee Stadium. Most of you remember that iconic image where President Bush throws his perfect strike. Yep. And you've heard a lot of the stories where Jeter's joking around with him in the tunnel. As he's warming up, Jeter tells him, don't bounce it. They'll boo you.

And he wasn't kidding. I know New York fans better than anyone. I'm one of them. So I get this assignment as a Secret Service agent to go there and partake in the security plan I was there when that happened I was in the stadium I watched it and I'm telling you it was a moment of

collective unity like I've never seen in my life I mean Yankee Stadium fits about 55,000 people there was not an empty seat in there there was not an empty seat in the stadium. I mean, I think that's obvious in a World Series game, but I mean like even in a World Series game, people are in the bathroom, people are getting a hot dog, some people show up late.

Folks, I'm telling you there was not an empty seat in the entire stadium. The seats were blue. You could not see the blue backdrop of one seat. People were standing in the aisles. And President Bush walked out. And for all of our political disagreements, heck, I have political disagreements with Bush. We brought him up on the show.

I'm telling you, it's my first and only experience as a Secret Service agent where, and I'll just throw this out there, and I'm fine telling you, where I was almost wholly distracted from my security mission for a few seconds i was it was just we had had this unprecedented attack on our sovereignty on our country something that if you would have told

someone before 9-11 was going to happen they would say dude that's the dumbest movie i've ever heard who would dare do that but it happened stories about you know people jumping off the we all live to it we know people incinerating into the uh you know into the concrete as they jump to escape the flames i mean just an awful day and for those of us who were up there um and in that new york area when it happened it was really pronounced for those of you in the pentagon or you know you know what i'm talking about it was just that much more that much more pronounced what happened joe were you on the air that day no i was in siberia no way but for joe yeah for joe and mish yeah we adopted them yes wow someone of you were asked me to to ask you because I said

I would like to know what Joe was doing that day and I could tell you I didn't I'm sorry forgive me I didn't even think to ask I wasn't being rude at all we got a call from the um interpreter crying her eyes out oh Mr. Armacost I'm so sorry oh my god your country is at war I don't know what we'll do did you know what she was talking about? I thought she was nuts. And I said, what, what? And then I found out. And then my next thought, believe it or not,

was how do I get out of here? Yeah, get home, I know. Sheesh, gosh, I didn't even, I mean, it was just such a transformative moment in our lifetimes. I mean, it was up there to me with the moments you remember every detail. I mean, I'm not comparing the tragedies. A 9-11 is a unique scar in our nation, but it reminds me when the space shuttle exploded. I remember every detail of it. I was in what, fifth grade? Oh, yeah. So I'm there though at Yankee Stadium and Bush walks out and I'm telling

you, it was the only time as a secret Service agent I was genuinely distracted for that moment from my mission. I am in the right field bleachers. So I've got a great view of this whole entire thing. And he walks out, and I remember thinking to myself, please throw a strike. Please. And I remember thinking to myself, please throw a strike. Please. And folks, when I tell you this, I mean this as the most nonpartisan person at the time.

I was not thinking the politics of it at all. I was thinking we need one collective blank you to these terrorists that tried to beat us down. And nothing would make me happier than the President of the United States, who there's no question they would have tried to beat us down. And nothing would make me happier than the President of the United States, who there's no question they would have tried to kill if one of those planes would have made it to the White House, to walk out onto the mound, forgetting the politics of the moment, and throwing up a laser beam down the home plate is one big collective middle finger

to these jerkwads who did what they did. And man, he gets out there, folks, and he throws this laser beam strike. And I got lost in a sea of emotions. I'm an emotional guy as is. It's not a secret. Don't let my 6'1", 230-pound frame fool you. I'm a big teddy bear. I got lost in it, and everybody else did too. It was this collective sense of we were being defined by negation. I don't mean this in a negative way. I'll get to that in a second. Right after that, forgive me if I'm getting the timeline wrong

because it was such a transformative moment, but it was either right before or right after. There was a flyover. I think they were F-22s. And it was the loudest thing. I'd heard F-22s before. We used these things. We used caps and other stuff and you know we were secret service agents but hearing the men with the crowd and the roar this sound was just definitely right over yankee stadium and i was like yes yes you will

not beat us down you sons of bitches you will not beat us down, you sons of bitches. You will not beat us down. You have no idea how badass this country is when you piss us off. And I thought to myself, yes. I looked next to the dude next to me, and I was like, yes. And I remember a guy looking at me, giving me like a nod. And the nod, he didn't have to say anything. The nod was like, you pissed off the wrong country, you SOBs. Because we're coming, and it's going to be ugly when we get there.

And then we had those military officials and Central Intelligence Agency guys on the horseback in Afghanistan. It's like, we're going to hunt you dogs down at every corner of the earth in the caves we find you in. And it is going to be a bloodbath when we get you because you have pissed off the wrong guy. You poked a bear who's hungry, who's angry, and who's been preparing to eat you for a really long time. And it's over, Johnny. Why am I bringing any of this up? Because I watched it on ESPN last night again,

and I watched George W. Bush's comments now later on about it, and a guy I used to work for, Nick Trott, in the Secret Service, who was there too. He was one now later on about it. And a guy I used to work for, Nick Trott, in the Secret Service who was there too. He was one of the bosses that day. And I thought, you know, we were defined by negation. In other words, we were defined by what we weren't in that moment. We were Americans.

And again, I don't mean this in a negative way. We were Americans because we were not those savages. Now, we were going to kill those savages and we were going to hunt these animalsages and we were going to hunt these animals down. We were going to hunt them down and we were going to kill them and we were going to find them. Yep.

But we weren't them. We don't run planes into buildings. We don't intentionally target innocent civilians. We conquered countries and have walked out and give them money to rebuild. Think about the Marshall Plan. We defeated and destroyed the entire Nazi army

and then gave money to Europe to rebuild the country. No one else does that. We do that. And we were defined by what we weren't. We were defined by negation. We were defined collectively and we were proud to say, gosh, we're't. We were defined by negation. We were defined collectively.

And we were proud to say, gosh, we're the United States. What a great day. No one was saying we're a Democrat, we're a Republican, a Libertarian, conservative. None of that was happening after 9-11. And it's just sad. It's sad to watch all of that collapse. Not that this, again, I'm trying to get into some kumbaya moment where this moment of collective unity was going to last forever. But I bring it up and I took a note on this and I wanted to bring it up today.

Because we're defining ourself by negation again. But that negation is American citizens looking at other american citizens and saying we're not those guys we actually have a group of now far leftists and socialists and others out there and some sadly mainstream democrat figures who look at other Americans and paint upon them the worst kind of slurs and labels and look at them and go, I'm taking the moral high ground because I'm not that guy. And who's that guy? The racist, the xenophobe, the homophobe, the misogynist, what I call on the show, the istophobic phobophobe. Put a phobe or an ist after any word, and many on the Democrat side will call you that. Folks, it's sad to watch. It really is. It is really sad to watch. And as I watched it last

night, this show, you know, sitting and laying in bed with my wife watching it, again, we both, it means so much to us because it defined our relationship too. I watched it and I said to her, gosh, if we could just get back to a 10th of where we were at that time, where we could look at fellow Americans, where Democrats could look at conservatives and say, listen, these aren't bad people. They're just bad ideas. And we disagree. We think they're good ideas, of course. But you see my point, Joe, that the other side, I mean, it's a humble ask for you now. And I don't want to spend too much time on this. But maybe if, you know, the country would be in a far different place and you wouldn't have ushered in the era of such confrontational politics if you didn't choose to define yourself by negation against us.

Maybe dial it back a bit. I get it. Listen, I got a temper. I've been known to take this fight, but I did not start this fight. I did not ask by liberal groups to be called the worst of the worst, which happens on Twitter all the time. I'm happy to screenshot them for you. I did not ask because I support the second amendment to be called, to have people tell me I have blood on my hands. I did not ask, when I'm a school choice supporter, oh, you hate teachers. I did not ask because I support conservative American values and standing for a flag to be called a racist

or whatever it may be. You did that. You did that. And if you would dial it back and just, again, start to maybe see that we are patriots. We do love this country. We just have a seriously different set of ideas. Maybe we could get back to one-tenth of what I experienced that day.

It was a transformative moment in my life, folks. I'm telling you, I've never seen anything like it. It was just a feeling of depersonalization, that you're part of something bigger than yourself right there in that unit of people. Which doesn't make sense, right? We had to in that unit of people, which doesn't make sense. We had to get a unit of people, something singular and something plural. It was some kind of collective feeling of, again, being defined by negation that we're not those animals

that hit us, and we're coming for you. I wish we could get back to that, some of it. You know, sad. All right, I've got a lot to cover today. My show notes today are pretty extensive are very very good and i please uh please encourage you to thanks by the way everyone yesterday who came through big time for me i told you we were having problems with our our domain being attacked so we got a ton of new subscriptions to my email list people been opening our emails that means a lot folks if you want support the show, that's the way to do it. We don't have a Patreon account. We don't ask you for money to

support the show. We do it through sponsors. So I really appreciate those little things like signing up for our email list, opening our emails, signing up for our YouTube account, signing up for our Twitter. It means a lot for the show. So thank you very much. But there is an article in the show notes today I'd like you to pay attention to by jeff carlson over at the epic times who's been doing so just extraordinary work and he proposes something that we've been covering for a while but he proposes it in really good detail the proposal is this joe what else is the doj hiding and i'm going to add to it this isn't in his piece but i'm going to add to it remember This isn't in his piece, but I'm going to add to it. Remember what I told you Plan C was, right? Plan A was attack the Trump team using unmasking efforts and possible 702 queries in the NSA database.

That got shut down. Then they went to FISA warrants. And then Plan C, when all else failed and Trump won the election, was to bring in Bob Mueller as a special counsel to clean up the mess to make sure the American people never saw the abuses that went on the DOJ. But Carlson's piece brings up a great point. What else, Joe, are they hiding over there? And I got to tell you, if you pay attention to Cheryl Atkinson, Cheryl Atkinson's timeline, which she has up on her website, I bring it up because he references Cheryl Atkinson in the piece, Carlson. You start to ask yourself questions, Joe,

that is the DOJ resisting declassifying and unredacting a lot of this data because this FISA abuse is not just about Donald Trump? Folks, the Carlson piece is a good one. And I want to spend a little bit of time on this because this is important and it's spy gate related but it's not a spy gate story specifically keep in mind the question we're asking yes we know the fisa system was abused to spy on donald trump we or his team at a minimum carter page. That's a documented fact. We know

through the two hop rule it can be expanded to his team. Hop from Page to people he emailed to people from there. That's how they surveilled the whole network using a FISA warrant. But Carlson has a great question. How many other people has this happened to? Oh.

Folks, is the DOJ resisting this because they know if they release the data and declassify the data on the spying used to spy on trump joe that they may be opening themselves up to a precedent on others this was done to too ladies and gentlemen i've got to tell you i should have brought this up to you sooner and shame on me for not doing it. This may be a bigger scandal than being just about this Republican. You see where I'm going with this? I've got some more detail.

You said Cheryl Atkinson. I kind of had an idea. Because she was a victim of some of this herself. Yes. Cheryl Atkinson is a widely respected investigative journalist. This is not some like party hack. She has gone after people on both sides of the aisle and she has, in the piece

you'll see, she has this theory out there that the FISA system to spy, the Foreign Intelligence Surveillance Court that can obtain warrants to spy on people in the most intrusive ways Joe, that this Donald Trump scandal may be a scandal not only because it's about Trump but it's about a larger litany of people.

Now, a couple of questions here. How bad was the abuse? Are there other cases? Now, Carlson brings this up, and if I lose you, Joe, follow me, because he says there is resistance. So you understand the background. Americans, me included are pushing to declassify everything at this point we want to know what went to the fisa courts to

spy on trump uh the investigative 302s the investigative summaries between the fbi and bruce or we want to see everything and a lot of us me included have been wondering for a while joe why why not if trump knows he was a victim of this, and we know too, why not just declassify the information? Why are people in the White House, which Carlson outlines in his piece as well, fighting this declassification? In other words, if people inside the White House know Trump was a victim of this, why are they some of the ones telling Donald Trump, hey, you may need to stand easy on this a little bit. And a suggestion there, which I think may be accurate, is Joe, how many other cases was the FISA court lied to on? Now, you may say, well, what's the problem, Dan? It would expose corruption.

Yeah, folks, but listen, the world is a very, as I've said to you repeatedly, the whole entire field of ethics is about the gray, not the black and white. If all answers were in black and white, we wouldn't need a field of ethics, right? Let me propose something to you. Why the White House itself, people within it may be saying, hey, stand easy on this declassification, because if we do it, it may set a precedent for other declassification efforts. And those declassification efforts may reveal FISA abuses on other cases as well. But folks, what if those cases were people who were actual terrorists? If I'm confusing, you stop me here. I'm trying to get at it.

Now, Carlson doesn't get it. I'm taking his piece and elaborating. And I just want to be clear. You read the piece. It'll make sense. But I'm taking this to the next level, given my own experience in law enforcement. What I'm suggesting to you is it's clear that the FISA process was abused for Donald Trump. It may also have been abused for other people who turned out in the end to be legitimate bad guys.

The problem now is the egg on the face of the government, if some of these FISA abuses are exposed and the FISA abuses were used to nail legitimate bad guys, you may say, well, what's the egg on the face? The egg on the face is that they basically lied to the courts. They may have lied to the courts to gather information to get the bad guys. Creates an interesting conundrum for the Justice Department in the White House saying, well, we've got this guy, terrorist whatever, A, we've got this guy locked up or we've got this guy on a watch list. But we use the FISA process and some of the information came from sources we then use later on other broken cases who were not good sources. So now what do we do? We expose this guy as a bad source, which shows our information may be crap, which we may, follow me, which we may have given to other governments too.

In other words, hey, watch out for this guy, terrorist A. You see what I'm saying, folks? And then the government starts going, these other governments, hey, you gave us that information about terrorist A and terrorist B, but now you're saying some of the information

turned out to be bogus that you used in the secret court you have. And what are we supposed to believe here? Right, we're with you folks again i'm not here to give you simplistic easy explanations and i'm certainly not suggesting they shouldn't declassify it you know i've been pushing for that for a while i insist on that now um that my stance has not changed one bit again i'm just trying to give you a bit of a layered more detailed approach than simplistic you know 140 280 character tweets you know declassify yes let's declassify but let's understand what else may be going on here it's a sage point and cheryl atkinson's work on it is is good it's really good and when you read how there may be other examples here you'd under you

understand why now now it makes sense why there's been a delay so just to recap a bit because i want to get to some other issues here too carlson does address in the piece issue number one this fisa abuse process abusing these courts to spy on people may not only be about donald trump folks it may have happened to other people some may have been legit bad guys some may not have been either way if the information presented to the court was using sources and methods that are now broken and we gave that information to other people or targeted other people the government's opening itself up to some serious liability and political problems here

geopolitical problems hey jordan israel whatever uh uk we gave you this information on this guy and it doesn't look so good anymore oh that may be at the heart of some of this and that may be by the why the white house is saying hey take it easy if we declassify this we may have to declassify other stuff too and we're setting a very dangerous precedent that's problem number one problem number two with the declassification of the information and the fives warrant and others is what about insubordination this is a serious problem joe in other words if somebody at the doj now i i i'm willing to take that chance i'm not the president so it doesn't really matter but i think this the the nations need to know at this point outweighs anything else. But there's a serious concern, according to the

piece, about insubordination. Meaning, Joe, you're the AG or the DAG, the DAG, and I say, Joe, declassify it. And you say, I'm going to resign and then 10 people join you. That becomes a very serious political problem for Donald Trump. again folks i'm not suggesting they shouldn't declassify understand where i stand on this not at all i'm simply suggested to you that on my show i prefer to give you a more wider spectrum of ideas about what's going on so you understand the problem so you're not you know debating like a liberal you know texas low taxes suck that's i mean that's that's the depth that they're an inch deep and 42 miles wide understand that there may be other problems here and the trump team may be concerned about the political ramifications of mass resignations if they declassify again i don't think that's

going to happen but it is out there i told you about precedent if they set the precedent there may be other cases so we can knock that one out because I want to get some other stuff. And then finally, the elections. We're now in that 60 day window where the Department of Justice would rather not impact elections, which I find almost laughable, given their indictments and prosecutions. These two potential prosecutions, these two Republican congressmen. Again, I'm not suggesting they didn't do anything wrong. I'm just suggesting I thought we were supposed to stay out of politics for 60 days, let the voters decide, and then prosecute them afterwards. I'm just saying, are the rules the rules or are they not?

So again, not suggesting they shouldn't declassify it, but one of the reasons they may be giving is, Mr. President, if you declassify now, it'll give the appearance in violation of Department of Justice election meddling rules that are, again, laughable, that you are meddling in these midterm elections. Copy? Yeah. So it's a really, really good piece. I have it in the show notes. I strongly encourage you to read it. And it'll give you a more in-depth knowledge of the full spectrum of problems surrounding the declassification.

So when you and I discuss it on the show, you'll understand that there may be a hangup. Now, having said that, how bad was the abuse? And how long has this FISA process been going on, this FISA abuse process? You know, Chuck Ross has an interesting tweet out there about the Washington Post and the New York Times show that I brought up before. I think it was Lee Smith or Carlson who pointed out or the Last Refuge guys. I'm not really sure.

But when they reported on the FISA date initially, the Washington Post and the New York Times, in other words, the original FISA warning against the Trump team, Chuck Ross has a tweet out and he has images of it. What's fascinating, Joe, is that both the New York Times and the Washington Post made the exact same mistake. The first FISA against Carter Page was not issued

until October 2016. But the Washington Post and the New York Times, according to their sources, both reported that the FISA was issued in the summer of 2016, and both had issued corrections. What does that tell you? Folks, I can tell you what it tells me, that there may have been an inside operation, a canary trap. There was information being leaked out to select people with the wrong information.

Those people with the wrong information, when they relayed it to their sources, were given specific dates that were wrong. So when they leaked it to the Times and the Washington Post, they would all have the date wrong. And then the people who leaked it would be caught. The canary trap. I always use the Miami Vice example. If I'm trying to find a leaker and I have five suspects, I give them all a different date, suspecting one of them is going to leak. I give them all a different date. And then one of those dates shows up in the New York Times and the Washington Post, I can figure out who leaked because I gave them all different dates. If the leak is when is Dan Bongino's

birthday and I tell five different people my wrong birthday, the one who leaks the wrong birthday is the leaker. This is pretty simple stuff. I mean, I'm not, folks, please, I'm not trying to talk down to anyone, but the canary trap is a tried and true method to weed out leakers, right? It's pretty clear to me at this point that the fact that the New York Times and the Washington Post both published the wrong date for the Pfizer and had it corrected, that they probably had the same source. Yeah. And that same source is probably part of an ongoing leak operation. the date was corrected by the way says to me someone close on the crossfire hurricane trump investigation called the new york times and washington post and said ah that date's wrong which makes it even worse not only we have a leaker we have a leaker fighting uh fighting leakers by leaking you get it this is real it's in other words it's really bad yeah so that's up

in a chuck ross tweet but it's a really good point that, again, how long, and I bring it up in context of how long has this FISA abuse been going on, because, and the inverse, how long has this leak investigation been going on too, folks? In other words, if it was a canary trap set months ago, right, just how long has this been going on? We already know a grand jury's been impaneled right i reported to you last week about andy mccabe the breaking news that andy mccabe there's a grand jury and panel to investigate the deputy director in the fbi and his role in all of these investigations i've told you to take at ease for a while how long has this been going on

how many more people do they have ensnared in this canary trap, folks? Are there more handcuffs coming out? Are there more people going down? Joe DeGeneva seems to think so. Joe was on the Hannity show last night right before me. Joe DeGeneva is adamant that they are all going down. His words, Comey, McCabe, All going down. His words. Comey, McCabe, Stroke, Baker, Rabicki, all of them. Joe seems to think all of them are in serious trouble for this leak investigation.

Something to keep in mind, folks. All right. Got a lot more to get to. It's a busy show. Don't go anywhere. Today's show also brought to you by our buddies at ExpressVPN. Hey, with all the recent news about online security breaches, it's hard not to worry about where your data goes, right? Making an online purchase or accessing your email can put your private information at risk.

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for you. I picked out of my culling the internet today for the best stuff out there. So a couple articles in the show notes, three, that you really should read about the fiscal condition of the United States. Folks, we are, I don't know what to do to give you the good news. Let me give you the bad news first because it's Friday and I don't want to leave you with bad news. So I'm going to put out the bad news now, and it's bad. It's not like mildly bad.

It's really bad. So we raised record income tax revenue up to this point. The fiscal year is almost over. Remember, the fiscal year for the government does not run the calendar year. It's not January to December 31st. It runs, what is it, October through, it starts in October for obvious reasons. The spending levels for the following year start earlier. So we are 11 months into the fiscal year. The budget year is almost over. The good news

for the government, not for you, is they raised record income tax revenue, $1.521 trillion. Now, we're down a little bit on the total tax revenue side, and I brought this up in a prior episode. I want to correct this here. The corporate tax revenue has gone down since the tax cuts. But Dan, you always say tax cuts don't lead to tax income revenue losses. They don't. Over time, the historical evidence is crystal clear. Look at the corporate rate cuts

and capital gains tax cuts under the Reagan years and other tax cuts. You'll see over time, once those tax cuts set in, you'll see that the income base grows to economic growth. What I'm getting at here is the Donald Trump tax cuts involved a dramatic corporate tax cut, 35 to 21%. And it also involved expensing, expensing changes, meaning people could take deductions immediately that they'd have to depreciate over time. There was no way you weren't going to get, Joe, a short-term loss in corporate tax revenues. None. The cuts were dramatic. I'm just asking you all to be patient. So understand where I'm going with this. We're in the bad news segment now, so bear with me. The bad news is government tax revenues up on the income tax side. It's down in total because we lost some

on the corporate tax side. We're actually down 7 billion in total receipts on the corporate side because of the expensing. But folks folks we are running an absolutely extraordinary deficit and us saying that hey you know what it's the republicans now in charge of congress because they draw up the budget is not an excuse to the republicans listening uh and dan horowitz has a scathing scathing piece um in conservative view today which I have at the show notes. Just a simple question for you. Why did we vote for you? We are now running, Joe, an $898 billion deficit.

Go to hell. Yeah, you're darn right. Despite record income tax revenue coming in. Oh. $898. We are running Obama-era deficits. by record income tax revenue coming in. Oh. 898. We are running Obama-era deficits. It does none of us any good to apologize for this, and we have to start activating

and asking our congressional representatives and senators out there, what the heck are you guys doing? Ladies and gentlemen, please understand, in a $4 trillion budget, a nearly trillion- dollar deficit every single year is in no fathomable universe is that sustainable. We are on a guaranteed path to national bankruptcy that is going to manifest itself shortly through higher interest rates if this keep up, which are going to strangle the economy. How do you feel about paying 18% on your mortgage?

Oh, that's not going to happen. Are you sure? I've got some more for you. I've got more coming for you soon. More data to show you that not only can this happen, it is happening around the world right now. What are the Turkish interest rates? They just moved them up to like 40%? Folks, we're in a world of trouble now i want to dispute one simple premise from this too because a guy i like i have a lot of respect for him tom rogan writes for the washington examiner

you see him on fox sometimes he does some good work but a rogan wrote a piece yesterday in the washington examiner i think it's in yesterday's show notes i put it in there suggesting that the gop should not make these tax cuts permanent you all know the story the income tax cuts were not permanent the corporate tax cuts were because of democrat obstruction on the filibuster side and having to use reconciliation uh so the democrats blocked it now there's talk of tax cuts 2.0 and making these income tax cuts permanent for you there are there are the democrats are threatening to obviously to filibuster that again rogan who uh who's you know is not a not a liberal by any stretch but wrote listen we should really

reconsider making these tax cuts permanent because the deficit situation unless we can accompany it which is not a bad idea by the way way. He says, unless we can accompany, Joe, those tax cuts with significant spending cuts, we have a real problem. Now, I don't disagree with accompanying it with spending cuts at all. I think Rogan makes a great point there. I think he's right. But I disagree with the necessity to pair them to make them permanent. And the reason I say that is, again, the evidence over time, when you look at income tax cuts under Reagan, under John F. Kennedy, under George W. Bush, under Calvin Coolidge, wherever you go, when you look at those income tax cuts,

it shows pretty conclusively that we're not gonna suffer a long-term loss in tax revenue. So I disagree with it. You get what I'm saying, Joe? I like his idea of accompanying those tax cuts with significant government spending cuts. Great.

Great idea. Point stipulated. But I don't agree with making that some dispositive factor. In other words, if it doesn't happen, then don't make them permanent. That I disagree with completely because there's very little evidence that these significant income tax cuts, if we can get them in there and lock them in, there's very little evidence that it's going to cost the government money, which I hate that term, but over time at all, and exacerbate the deficit. There's very little evidence of that.

Matter of fact, remember, folks, Ronald Reagan, over the course of his presidency, cut the top tax rate from 70% to 28%. Does anybody doubt the dramatic, 70% to 28%? Donald Trump's income tax cuts on the top side were like one or two percentage points depending on how you calculate your taxes the reagan tax cuts folks were almost you know nearly 40 plus points of of percentage point tax at the marginal rate and the tax cut the tax revenue to the government doubled doubled so i disagree with the premise on there one final point on this tax revenue to the government overall even though

income tax revenue went up the corporate tax side fell tax revenue to the federal government overall is down seven billion so the liberals joe look look the tax cuts exacerbated the deficit problem no you can't do basic math you're just a knucklehead and you're lying i'm sorry joe spending's up a hundred billion dollars now tell me again what's causing the deficit problem so tax revenues down seven billion even though income tax revenues up but total tax revenues down seven billion spendings up a hundred billion and yet you'll continue to let liberal knuckleheads insist to you that the tax cuts did it. I'm a jerk. J-E-R-K, jerk.

We have a spending problem on a magnitude of 10 times higher than the tax problem you're alleging is the issue. If you're going to acknowledge that $7 billion in lost revenue is an issue, If you're going to acknowledge that $7 billion in lost revenue is an issue, are you going to acknowledge that $100 billion in additional spending is an issue on the magnitude of more than 10 times higher? You understand they can't get out of that. Right. If they're going to tell you the tax cuts caused the deficit, they can't then simultaneously ignore the spending hikes, which have caused the deficit 10 times worse. This is how you pin the liberals to the ground in a debate. You use their own arguments against them.

It is just so incredibly simple when you know the numbers. Okay, final reading. I got another story because it's important. This is going to be the good news. I don't want to leave you in a bad mood. Hey, of all the once in a while from a sponsor, i get a freebie they'll send stuff as samples and this new company i am so honored to have my board because joe they sent me a box that i had no idea what it was and i opened it and i was like yeah what the heck is this it took me a minute to figure out what it was because we have a lot of sponsors and i didn't i just didn't couldn't put it together it was a battle box it had high-end uh knives like everything from camping

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Joe always gets excited on a Friday. Yes, I do. The good news is this. The rest of the world's economies are in such disastrous shape right now, folks. That's not good news about the world. I'm not wishing ill on anyone. But this is a comparative situation. People are going to invest where they can get returns.

And the rest of the world is such a disaster that given the Donald Trump corporate tax cuts in conjunction with the GOP, Joe, on the business side, businesses from around the world are starting to drastically reconsider where to relocate their capital and their people. Where are they deciding to relocate it? The great old United States of America. Ladies and gentlemen, we have money pouring into this country like you have never seen in your life. And it is precisely the reason interest rates in this country are still unusually low. Now, I brought up the bad news first, because you may be saying to yourself, you don't have to be an economist, but if you understand even basic economics, money has a price, right? That price is an interest rate if countries have a difficult

time attracting money to their countries because their economies really stink their governance is bad their contractual law is bad the business environment isn't healthy what do they have to do joe they have to raise interest rates to basically guarantee a return on their investing in their economy when you does that make sense everything has a price the price to invest guarantee a return on their investing in their economy. Does that make sense? Everything has a price. The price to invest in a country that's high risk has to be high. The reward, excuse me. So if you're going to invest in whatever, country X,

and country X has crappy governance, terrible contractual law, bad business environment, high taxes, the return better be 20%, 30% for you to invest in it. You get what I'm saying? The United States' interest rates are still so unbelievably low, despite our catastrophic debt situation I just told you about. Even under this Republican Congress spending money like drunken sailors, and that's an insult to drunken sailors, right?

We still have low interest rates. This is the good news because money from all over the world is piling into the United States right now because everywhere else is just so sucky right now. I can't think of a better word. Now, I have a couple articles on this too in the show notes today. I'd like you to read them. The emergency market, emergency, excuse me, emerging markets right now are having a legitimate currency scare. Places like Turkey, Argentina. We've seen this happening around the world where they've had to up interest rates 10, 20%, 30%.

What's happening here is money is fleeing these countries en masse because, not just because of our tax cuts, that's helping, but because these governments can't seem to get the tax, low government spending thing, solid court system, solid contract law things down, and companies don't want to put money into some of these countries. You've seen a totalitarian streak in Erdogan in Turkey. Argentina's having a severe inflation crisis now. And what's happening is businesses are taking the money, Joe, and they're flying it out into the United States. Not physically, but you get the point.

These countries, in order to attract that money back, have had to significantly move interest rates higher to attract capital in there. Now, what's making that worse is it's devaluing their money significantly. Their domestic money, the Argentinian peso, the Turkish lira, their domestic money is losing value.

What's the problem? What's the problem with that? And why is the business environment going to get worse for them? And we saw this in Mexico back in the 80s. Folks, this is bad. A lot of these people in businesses in Turkey and in Argentina and elsewhere in these emerging markets took loans, Joe, denominated in dollars, our dollars boy is that bad why because now as our money gets stronger right and their money gets weaker and weaker they have to pay back those loans in dollars but if five years ago you paid back one dollar and one lira for every dollar, but now the value of your

Turkish lira is in the can and you have to now pay 30 liras to get a dollar. Folks, I've got news for you. Paying back those loans denominated in dollars is going to cost you 30 times more. Simple math. You see what I'm saying? Your dollar bought this in the past.

Your lira bought you one US dollar. Now your bought this in the past. It bought you one. Your lira bought you one US dollar. Now your money's in the can. The country's economy's falling apart. Now it takes 30 of them. Now you got to go scrounge up 30 times more to pay off those loans. We've already seen this around the world. We saw it with some East Asian countries, with Mexico.

Folks, this is a real problem. I'm saying that because you're going to see, I believe, this capital flight get worse and worse, which I'm not, again, I'm not wishing ill on any country around the world. Having a global economic crash doesn't help anyone. I'm just saying with this emerging, and it hasn't spread like contagion yet, just to be clear. It's really an emerging market phenomenon now. I'm just saying that because the good news on a Friday is this money is finding a home. It's finding its home here, which is going to result in heavy investment in American companies, heavy investment in the workforce, heavy investment in training, in capital, in real estate.

You're going to see a lot of investors scooping up homes. I think if we can just please, and I'm not using the Lord's name in vain here, please give some divine inspiration to some of these guys up on the hill who are just chumps and cannot get a hold, if we can just get a hold of our spending situation. Read Dan Horowitz's piece. It is a scathing, scathing review of this GOP budget, which is no different on substance from a liberal Democrat budget, none. since for my liberal Democrat budget, none. If we could just get a hold of this outrageous spending situation, ladies and gentlemen,

we could be looking at a couple decades of United States economic prosperity we have not seen since the mid 80s. But we have got to get a cap on this spending because this emerging market crisis and worldly crisis is not going to last forever. Sooner or later, these countries are going to get their act together. always well they don't always but most of them do

when they do the united states may not be that option anymore and when that funds of money when that flow of money dries up we don't want to be the ones charging a 30 interest rate for a mortgage our economy would be you would throw a monkey wrench into everything. It would explode everything. So the good news is we're the best option. The bad news, we may not always. We have got to get a control of this spending situation. I didn't even get to Adam Schiff. I had so much more stuff on that.

But, you know, folks, I'll have to get to some of them on this. If you want to watch my NRA TV show tonight, 530 on nratv.com, I'll try to pick up the rest. That's the great part about having two shows. If I miss one, I go right to the other. Hey, thanks for a great week. I appreciate all the new subscriptions on YouTube, on iTunes, on iHeartRadio. It's all free, folks.

It means a lot to us, helps us move up the charts. And thanks for joining my email list and opening our emails. It really means the world to me. Thanks to everybody who emailed me back. I appreciate it. I will see you all on Monday. You just heard the Dan Bongino show. Get more of Dan online anytime at conservativereview.com. You can also get Dan's podcasts on iTunes or SoundCloud and follow Dan on Twitter 24-7 at DBongino.