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Steve Bannon: “Obama told us the new normal is 1.8% growth. Okay? This 3.5%…”

Featuring: Steve Bannon, Former White House Chief Strategist | National

Steve Bannon | Full Address and Q&A | Oxford Union

Published November 17, 2018 | Video Starts at 34:15

Not in the room, not in the deal with Trump. They're in a deal. Why do you think it just didn't happen magically? And don't buy this as Obama's thing. Obama told us the new normal is 1.8% growth. Okay? This 3.5% growth. And I'm not totally in love with the tax cut. I'm the progressive, read the Wall Street Journal. I'm in the Oval office arguing for 44% tax rate on everybody over $5 million. (34:15–34:21)

CLAIM

Asserts that Obama predicted 1.8% growth, contrasting it with current 3.5% growth.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Steve Bannon

“The balance sheet of the Federal Reserve that day was $880 billion. The balance sheet on the day that Donald Trump raised his hand was $4.5…”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 03:06-03:16
“Today it's $41 trillion of debt to central governments.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 03:38-03:43
“50% of our population can't put together $400 of cash in an emergency.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 04:41-04:48
“$7 trillion on two wars that we didn't win and didn't accomplish our objectives.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 08:16-08:22
“We're still spending $62 billion a year in Afghanistan.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 08:21-08:26
“Of the 250 criminal referrals from all the studies and all the commissions, the Obama Justice Department never moved on any.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 08:33-08:41
“The United States spent $5.2 billion on the midterm elections.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 25:29-25:37
“In 2014, ISIS had 8 million people under slavery.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 42:27-42:31
“We just had 114 million people vote.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:01:48-1:01:51
“Federal Reserve Chairman Ben Bernanke, Secretary of Treasury Hank Paulson...tell [President Bush] by 5 o'clock tonight, we need $1 trillion…”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 01:21-01:35
“We basically just flooded the zone with liquidity. We bailed out the Party of Davos.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 03:17-03:23
“62% of the jobs that were created before President Trump got there were jobs that living wage are below living wage.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 04:49-04:56
“He [Trump] physically destroyed the physical caliphate of ISIS in one year in alliance with Islamic countries.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 05:17-42:41
“The American working class, the American middle class, for the first time in our history, 70% felt the country was in decline.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 05:41-05:49
“The rise of China, the deindustrialization of our country, all the shipping of the jobs to East Asia, the high value added manufacturing…”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 06:30-06:40
“The rise of China was a second law of thermodynamics. It was physics that you couldn't change.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 07:37-07:44
“Trump ran on three basic stuff. We're going to stop mass illegal immigration and limit legal immigration.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 09:33-09:39
“NAFTA is the centerpiece in this economic war with China.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 10:52-10:56
“The real cost [of the defense budget] is a trillion dollars.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 14:27-14:27
“We have a structural deficit going forward now of a trillion dollars.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 14:32-14:36
“We're not trying to disengage from the world. We're not trying to be an isolationist.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 14:40-14:45
“We don't want to protect it in Western Europe. That's why he keeps harping on the 2%.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 15:18-15:23
“The problem is with radical Islamic Jihad is as big a problem for you in your own countries as it is for us in the West.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 15:45-15:52
“If war breaks out, war is going to break out in the South China Sea or the Persian Gulf.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 16:22-16:27
“We're looking for allies, not protection. We're not an imperial power.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 17:04-17:04
“It's a totalitarian regime with a geopolitical expansionist attitude of Mackinder and Mahan and Speakman and all of it.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 17:44-17:56
“Is it really the Russians are the threat? Or is the threat what's happening in Sub Saharan Africa?”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 18:19-18:24
“We gotta draw down in Afghanistan, right? We can't force our culture.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 18:48-18:53
“We should spend that money in Central America, in the Northern Triangle countries and, and in Mexico.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 19:15-19:21
“The burden of [illegal immigration] goes on the Hispanic and black working class in those cities and it's in the southern states and it's…”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 19:35-47:54
“The working class in Texas, in New Mexico, in Arizona, principally Hispanic working class can't bear the burden of economic migration.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 19:44-19:53
“We believe in the deconstruction [of the] administrative state.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 21:18-21:18
“The ECB tried to stop a government from taking place in [Italy] 10 years.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 22:24-22:28
“The Italian people living today didn't really create that debt.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 23:28-23:32
“The left did that. The reason they took over the House of Representatives.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 25:43-25:47
“They have no intention of letting you guys go. None, zero, zero.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 26:51-26:57
“Macron is a nationalist, but the capital of his nation is not in Paris, it's in Brussels.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 27:44-27:51
“The EU should be an empire like China and the United States.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 28:13-28:20
“Not one [European leader] has ever mentioned destroying the EU. What they want is a reformed EU.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 28:31-28:39
“The neo Confederates, the neo Nazis, the KKK have no place in our society.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 30:13-30:22
“Antifa and elements of the Black Lives Matter should be shut down also.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 30:28-30:33
“I've got thousands of hours of radio interviews... They've never come up with an anti-Semitic or racist comment, ever.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 31:21-31:40
“We must take 25% of the Bernie guys, the economic nationalists, a third to 40% of African American working class and middle class, and a…”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 31:56-32:07
“We have historic low black unemployment. That's why we have 25 year low Hispanic unemployment.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 34:37-34:44
“We're bringing manufacturing jobs back and around high value added manufacturing jobs.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 34:56-35:02
“The populist movement is subsidiarity. It's to get more power down to the little guy.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 35:10-35:18
“The populist movement and nationalist movement in Europe is 18 months and two years ahead, is the way Brexit happened.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 38:34-38:41
“We are doing the most systematic polling that's ever been done for the European Parliamentary elections next May.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 39:50-39:56
“The intensity in these [European Parliamentary] elections...is going to be on page one by March and April.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 39:55-40:04
“Go back and read Trump's Riyadh speech and look at the actions that we've taken since then to try to unite people.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 41:31-41:38
“ISIS had tax revenues and oil fields.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 42:31-42:34
“The tax bill's not perfect. What we did in financial deregulation is not perfect. I disagree with it.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 45:27-45:33
“I think a lot of what Dodd Frank did was correct.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 45:57-46:00
“I'm the one that's advocated criminal prosecutions to go back, and they say, oh, the statute of limits right now.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 46:00-46:09
“The original travel ban with Stephen Miller upheld by the Supreme Court, made our country safer, made Islamic citizens in our country safer.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 46:31-46:41
“Economic migration into the United States is called immigration. You have to get in line and go through the immigration process.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 47:14-47:22
“I support Orban and I support Salvini 100%.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 48:40-48:46
“The third leg of the Trump stool is the deconstruction of the administrative state.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 51:37-51:43
“I'm the guy keeps saying Facebook should be broken up, Google should be broken up.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 52:08-52:13
“We should take the data and drop it down to a public trust.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 52:12-52:16
“Jerry Nadler has already said they're going to have 52 investigations [into Trump].”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 58:18-58:22
“We had a midterm that was like a presidential race.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:01:52-1:01:56
“Democracy's never been, never been more robust and vibrant in the United States.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:01:55-1:02:01
“Working class African Americans are going to be one of the core planks of our movement.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:03:23-1:03:34
“Trump has permeated everything and he's triggered the left because they understand he. He's going to be in their lives 20 years from now…”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:04:04-1:04:12
“I think even for your generation, I. I think you're seeing now more engagement.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:05:00-1:05:05
“The beginning was the NAFTA renegotiation on trade deals and the tax deal, which, by the way, is far from perfect.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:06:35-1:06:42
“The centerpiece of the tax deal was the corporate deal that got our tax rates in competition with Germany and China.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:06:42-1:06:49
“Obama's Secretary treasury is saying the new normal was going to be under 2% growth, that's 3.5% growth.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:07:09-1:07:16
“Everything is tied to bringing the supply chain back from China back to the industrial democracies.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:07:42-1:07:49
“Even the restrictions on legal immigration is to make sure we have a massive problem in the United States.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:08:29-1:08:35
“Today that engineering school is 75% non Americans.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:08:57-1:09:01
“Stopping illegal immigration is going to take pressure off working class people.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:09:34-1:09:40
“Wages rising is a great thing. And that's the dichotomy between ourselves and traditional Republicans.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:10:09-1:10:16
“President Trump, even Tom Cotton's program of limiting immigration to 500,000 a year is to change it to a meritocracy.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:10:17-1:10:26
“You have to stop mass illegal immigration. We have to. It's destroying the working class in our country.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:10:27-1:10:33
“It's getting rid of the chain migration, it's getting rid of other elements. It's turning it into a meritocracy.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:10:43-1:10:48
“I think it's the consensus of the American people. And I think the country has to. I think you have to go to some sort of meritocracy.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:10:48-1:10:54
“We're so far from getting that passed. That's going to be the next big debate.”
Steve Bannon | Full Address and Q&A | Oxford Union | Uploaded November 17, 2018 | 1:11:01-1:11:05