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Steve Bannon: “The inflation number went from 2.2% to 4.2% and it really…”

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

And, This is Steve Bannon | This is Gavin Newsom

Published March 12, 2025 | Video Starts at 14:48

This one the shocker. And I don't think that, and I've said this, that the guys on the economic team did enough for President Trump of pushing this. The inflation number went from 2.2% to 4.2% and it really didn't even get mentioned in the business press. And I said that shows you the underlying kind of burning inflation. The reason that is the finance you have to finance now essentially a third of the debt every year. (14:48–14:55)

CLAIM

Asserts that inflation increased from 2.2% to 4.2% without significant media coverage.

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

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“The Federal Reserve's balance sheet went from $880 billion to I think, four and a half [trillion].”
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“President Trump won the 2020 election.”
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“I think President Trump's hemisphere the shift to hemispheric defense, which is from Greenland to the Panama Canal.”
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“I think there should be significant cuts to the Defense Department.”
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“There's a lot of MAGA on Medicaid.”
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“If we went back to pre Covid spending.”
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“President Trump wants to go back to more external revenue. That's part of the tariffs he looks at.”
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“Over the last three or four weeks you've had almost a trillion dollars. I think it's $800 billion from Honda, from Siemens, from Apple, it…”
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