RUSH TRANSCRIPT Individual federal ░░░░░░░░ are mostly not bad ░░░░░░░░ actually Because most human ░░░░░░░░ are not bad people ░░░░░░░░ most people people that ░░░░░░░░ federal employees are doing ░░░░░░░░ they do because they ░░░░░░░░ they are serving our ░░░░░░░░ and I respect that ░░░░░░░░ m hopeful it s ░░░░░░░░ going to be good ░░░░░░░░ many of the individuals ░░░░░░░░ they make a transition ░░░░░░░░ government service back to ░░░░░░░░ private sector Is part ░░░░░░░░ the newly formed department ░░░░░░░░ government efficiency with Elon ░░░░░░░░ And he has pushed ░░░░░░░░ making cuts to the ░░░░░░░░ workforce insisting those very ░░░░░░░░ will be beneficial to ░░░░░░░░ workers Joining us now ░░░░░░░░ treasury official and Morning ░░░░░░░░ economics Steve ratner This ░░░░░░░░ know you re going ░░░░░░░░ go through these charts ░░░░░░░░ is something that you ░░░░░░░░ to hear these two ░░░░░░░░ talking about how they ░░░░░░░░ going to cut 2 ░░░░░░░░ from the budget It ░░░░░░░░ a joke And it ░░░░░░░░ a joke because this ░░░░░░░░ something you and I ░░░░░░░░ been obsessed about for ░░░░░░░░ long time the national ░░░░░░░░ getting the deficit under ░░░░░░░░ Just looking at your ░░░░░░░░ chart here people need ░░░░░░░░ understand Social Security and ░░░░░░░░ make up about 50 ░░░░░░░░ what the government spends ░░░░░░░░ had defense and veterans ░░░░░░░░ that s another 20 ░░░░░░░░ you are up to ░░░░░░░░ You then add debt ░░░░░░░░ how much it costs ░░░░░░░░ service that debt That ░░░░░░░░ another 10 So Steve ░░░░░░░░ they even start talking ░░░░░░░░ cutting these so called ░░░░░░░░ employees that are bankrupting ░░░░░░░░ the United States government ░░░░░░░░ artie spent 80 of ░░░░░░░░ budget on Medicare Medicaid ░░░░░░░░ Security vets defense and ░░░░░░░░ on the debt I ░░░░░░░░ some of these other ░░░░░░░░ Again forgive me for ░░░░░░░░ hamlin the first act ░░░░░░░░ Let s cut law ░░░░░░░░ That s 1 of ░░░░░░░░ budget Let s cut ░░░░░░░░ and medical research we ░░░░░░░░ too much on that ░░░░░░░░ may be saying 1 ░░░░░░░░ the budget Transportation those ░░░░░░░░ projects is going to ░░░░░░░░ us it s only ░░░░░░░░ of the budget Again ░░░░░░░░ will actually let you ░░░░░░░░ this far better than ░░░░░░░░ am right now But ░░░░░░░░ is a scam unless ░░░░░░░░ are going to Social ░░░░░░░░ and Medicare and veterans ░░░░░░░░ They are never going ░░░░░░░░ get the 2 trillion ░░░░░░░░ the need to just ░░░░░░░░ pretending I m turning ░░░░░░░░ appear It s so ░░░░░░░░ Guy Look you said ░░░░░░░░ right Joe This is ░░░░░░░░ completely disingenuous unrealistic ridiculous ░░░░░░░░ for the reasons you ░░░░░░░░ said That over 25 ░░░░░░░░ the budget can really ░░░░░░░░ cut And even that ░░░░░░░░ rattle off a lot ░░░░░░░░ programs And most Americans ░░░░░░░░ say that they are ░░░░░░░░ important to them So ░░░░░░░░ re trying to cut ░░░░░░░░ can do little bit ░░░░░░░░ math You are trying ░░░░░░░░ cut 2 trillion but ░░░░░░░░ ve only got 1 ░░░░░░░░ trillion of stuff that ░░░░░░░░ can cut and that ░░░░░░░░ be cutting all of ░░░░░░░░ Now I would say ░░░░░░░░ has intubated about cutting ░░░░░░░░ from Medicaid We will ░░░░░░░░ right over here about ░░░░░░░░ some stuff on the ░░░░░░░░ block But what Musk ░░░░░░░░ Vivek Ramaswamy have done ░░░░░░░░ they identified about 25 ░░░░░░░░ of spending which is ░░░░░░░░ which is not going ░░░░░░░░ get into They think ░░░░░░░░ can exit cut without ░░░░░░░░ But let s just ░░░░░░░░ an example of the ░░░░░░░░ they would like to ░░░░░░░░ Veterans healthcare 119 billion ░░░░░░░░ healthcare for veterans We ░░░░░░░░ talk about the impact ░░░░░░░░ all that stuff in ░░░░░░░░ second Pell grants for ░░░░░░░░ 20 million Headstart we ░░░░░░░░ know what that is ░░░░░░░░ FBI Maybe the actually ░░░░░░░░ to cut that 11 ░░░░░░░░ By the way this ░░░░░░░░ zero all of the ░░░░░░░░ out This is eliminating ░░░░░░░░ stuff Federal prisons the ░░░░░░░░ and so forth And ░░░░░░░░ that adds up to ░░░░░░░░ billion And so there ░░░░░░░░ still a long way ░░░░░░░░ long way from there ░░░░░░░░ trillion dollar target Even ░░░░░░░░ they got all the ░░░░░░░░ And even if people ░░░░░░░░ this So yes Joe ░░░░░░░░ are right It is ░░░░░░░░ Hill today to pitch ░░░░░░░░ cuts By the time ░░░░░░░░ arrive at the late ░░░░░░░░ the Senate will have ░░░░░░░░ home by then So ░░░░░░░░ are still learning on ░░░░░░░░ job I suppose Steve ░░░░░░░░ mentioned the VA and ░░░░░░░░ are targets Talk to ░░░░░░░░ about those cuts and ░░░░░░░░ they mean Examples of ░░░░░░░░ heavy the political left ░░░░░░░░ be To try to ░░░░░░░░ this done You re ░░░░░░░░ about 6 2 million ░░░░░░░░ who are receiving healthcare ░░░░░░░░ the veterans administration And ░░░░░░░░ number this is a ░░░░░░░░ number the most recent ░░░░░░░░ that we have But ░░░░░░░░ number is only going ░░░░░░░░ grow For example they ░░░░░░░░ the packed act which ░░░░░░░░ to protect veterans who ░░░░░░░░ hurt in burns and ░░░░░░░░ like that That passed ░░░░░░░░ an overwhelming bipartisan consensus ░░░░░░░░ imagine the idea you ░░░░░░░░ back then a year ░░░░░░░░ two later and you ░░░░░░░░ I do you pass ░░░░░░░░ thing by a bipartisan ░░░░░░░░ Now we want to ░░░░░░░░ it It just doesn ░░░░░░░░ stand the test of ░░░░░░░░ Then you talk about ░░░░░░░░ NIH They are truly ░░░░░░░░ organization Funds basically search ░░░░░░░░ the private sector will ░░░░░░░░ because it s not ░░░░░░░░ commercial use Put aside ░░░░░░░░ cancer which had a ░░░░░░░░ to do with smoking ░░░░░░░░ up smoking cessation of ░░░░░░░░ But it s not ░░░░░░░░ the NIH They played ░░░░░░░░ big role in all ░░░░░░░░ different cancers that have ░░░░░░░░ down down down in ░░░░░░░░ of incidents From and ░░░░░░░░ lung cancer we talked ░░░░░░░░ cervix and stomach All ░░░░░░░░ these cancers have come ░░░░░░░░ And you have the ░░░░░░░░ to think for a ░░░░░░░░ of it Steve let ░░░░░░░░ turn to chart 3 ░░░░░░░░ four It s not ░░░░░░░░ the Trump Administration For ░░░░░░░░ now Republicans are the ░░░░░░░░ who blame Democrats saying ░░░░░░░░ are increasing the federal ░░░░░░░░ you are responsible for ░░░░░░░░ blow The chart shows ░░░░░░░░ s exactly the opposite ░░░░░░░░ we put these numbers ░░░░░░░░ because they have been ░░░░░░░░ about cutting 50 to ░░░░░░░░ of the federal workforce ░░░░░░░░ are ambitious if you ░░░░░░░░ Ludicrous more realistically But ░░░░░░░░ s interesting about this ░░░░░░░░ things First of all ░░░░░░░░ size of the federal ░░░░░░░░ 2 3 million when ░░░░░░░░ came in is actually ░░░░░░░░ very very slightly higher ░░░░░░░░ than it was then ░░░░░░░░ though the population of ░░░░░░░░ United States has grown ░░░░░░░░ 47 So these 2 ░░░░░░░░ million these are civilian ░░░░░░░░ are servicing 50 more ░░░░░░░░ with the same number ░░░░░░░░ government employees Number two ░░░░░░░░ you look at the ░░░░░░░░ ones which is where ░░░░░░░░ had a Republican president ░░░░░░░░ is Reagan the famous ░░░░░░░░ government unemployment went up ░░░░░░░░ Reagan Clinton it dropped ░░░░░░░░ a rock with help ░░░░░░░░ Congress as Joe will ░░░░░░░░ me if I don ░░░░░░░░ say that Came up ░░░░░░░░ under George bush 43 ░░░░░░░░ spikes are Covid the ░░░░░░░░ crisis the internet burst ░░░░░░░░ you have some spikes ░░░░░░░░ speaking even under Trump ░░░░░░░░ employment went up Under ░░░░░░░░ 1 0 So the ░░░░░░░░ of the Republicans they ░░░░░░░░ a good game But ░░░░░░░░ record of the Republicans ░░░░░░░░ actually cutting spending is ░░░░░░░░ small The other thing ░░░░░░░░ are attacking is federal ░░░░░░░░ Let s look at ░░░░░░░░ facts on that Let ░░░░░░░░ look at the facts ░░░░░░░░ that Back to 2011 ░░░░░░░░ is true that the ░░░░░░░░ federal worker this guy ░░░░░░░░ blue here made about ░░░░░░░░ more than his private ░░░░░░░░ counterpart if you adjust ░░░░░░░░ the different levels of ░░░░░░░░ and skills and so ░░░░░░░░ Congress has held federal ░░░░░░░░ down now consistently for ░░░░░░░░ ow years The cresult ░░░░░░░░ private sector pay is ░░░░░░░░ above federal pay by ░░░░░░░░ The private worker adjusted ░░░░░░░░ skills makes about 8 ░░░░░░░░ than a federal worker ░░░░░░░░ idea these are government ░░░░░░░░ way overpaid is not ░░░░░░░░ by the facts Steve ░░░░░░░░ thank you very much.