Podcasts > The Ben Shapiro Show > Spending Like There’s No Tomorrow

Spending Like There’s No Tomorrow

By Ben Shapiro

Dive into the latest episode of "The Ben Shapiro Show" where host Ben Shapiro candidly discusses the contemporary political landscape and its possible repercussions. Shapiro evaluates President Joe Biden's vulnerability as the 2024 presidential election looms, citing concerns over Biden's cognitive health and policy decisions. Fiscal responsibility takes center stage as Shapiro scrutinizes the president's proposed defense spending increase and the economic pressures that are symptomatic of the current administration. He raises questions about the rationale behind a $7.3 trillion budget and the pragmatic outcomes of increased taxation on the wealthy and corporations.

Shift gears to a debate on the integration of social media in politics, as Shapiro delves into former President Donald Trump's evolving stance on TikTok. Navigate the nexus between political relationships, voter demographics, and strategic rethink, as Shapiro unpacks Trump's departure from his initial intent to ban the platform—a move now considered to appeal to younger voters. Speculations arise around Trump's meeting with investor Jeff Yass and its influence on this policy flip-flop. Shapiro encourages a return to policy evaluations based on substance over political allegiance, calling for analysis that remains true to the intrinsic value of the policies themselves.

Listen to the original

Spending Like There’s No Tomorrow

This is a preview of the Shortform summary of the Mar 12, 2024 episode of the The Ben Shapiro Show

Sign up for Shortform to access the whole episode summary along with additional materials like counterarguments and context.

Spending Like There’s No Tomorrow

1-Page Summary

Biden's Vulnerability in 2024 Due to Dementia and Bad Policies

President Joe Biden may face vulnerability in the upcoming 2024 presidential election, as claimed by Shapiro due to conjectures around his cognitive health and criticisms regarding his policies. Shapiro expresses concerns over Biden's potential senility and denounces what he views as flawed policy decisions.

Shapiro condemns Biden's military funding, pointing out that despite a proposed increase in defense spending to $895 billion, when inflation is considered, it essentially amounts to a decrease in funding. The defense spending relative to GDP is on track to decrease to 2.4% by 2034. The Pentagon's struggle to replenish $10 billion worth of weaponry sent to Ukraine due to congressional impediments is another highlighted issue, potentially weakening U.S. military readiness.

Another focal point is the economic strain under Biden's administration, with inflation surpassing the Federal Reserve's target rate, restricting the possibility of lowering interest rates and harming market sectors like housing with escalated mortgage rates. Furthermore, Shapiro calls out the projected high Treasury bill rates in the budget, interpreting them as contradicting Biden’s optimistic narratives regarding interest rate reductions.

In terms of Biden's fiscal policies, Shapiro critiques the staggering $7.3 trillion budget proposed for 2025. He finds the spending level to be unjustified outside wartime or pandemic contexts and assails the tax hikes on the wealthy and corporations, suggesting it might result in less income for their employees. Moreover, Shapiro is skeptical about the government's ability to diminish costs through subsidies, implying it might cause price inflation instead of savings.

Trump's Flip-Flop on Banning TikTok Due to Political Relationships and Younger Voter Appeal

Former President Donald Trump's position on TikTok has seen a notable shift, which Shapiro attributes to political maneuvering and a desire to captivate younger voters. Initially, Trump moved to ban TikTok, citing national security threats, but he now suggests that a ban could alienate the youth and inadvertently favor Facebook, a company he has criticized.

TikTok, popular with younger voters who are currently disillusioned with Biden, has become a significant platform for MAGA proponents and conservative entertainers. Trump now seems to acknowledge the platform’s potential to wield political influence among young voters, and this could be a reason behind his altered perspective.

Trump's changed viewpoint may also be influenced by his association with Jeff Yass, a financial investor in ByteDance, TikTok's parent company. After a positive encounter with Yass at a Club for Growth event, Trump retracted his previous call for a TikTok ban.

Shapiro voices his perplexity regarding the seeming trend of altering positions on TikTok solely based on Trump's change of heart. He stresses that policy valuations should be inherently based on their merits, irrespective of any individual's endorsement.

1-Page Summary

Additional Materials

Clarifications

  • Shapiro criticizes President Biden's policies, particularly focusing on military funding, economic strain, fiscal policies, and the proposed budget for 2025. He questions the justification for high spending levels and tax hikes, expressing concerns about their impact on various sectors and the economy. Additionally, Shapiro highlights Biden's optimistic narratives regarding interest rate reductions and the potential consequences of government subsidies on inflation.
  • Biden's policies criticized in the text include military funding, economic strain, and fiscal decisions. Shapiro highlights concerns about defense spending, inflation impact on interest rates, and the proposed budget for 2025. Criticisms also extend to tax hikes, subsidies, and their potential effects on income and inflation.
  • Former President Donald Trump's changed stance on banning TikTok is linked to his encounter with Jeff Yass, a financial investor in ByteDance, TikTok's parent company. Trump's positive interaction with Yass at a Club for Growth event led to his shift in position regarding the potential ban on TikTok. This connection suggests that personal relationships and financial interests may have influenced Trump's decision-making process regarding TikTok.

Counterarguments

  • Concerns about Biden's cognitive health are speculative without medical evidence, and it is not uncommon for political figures to face such scrutiny as they age.
  • Increases in military funding may be part of a broader strategic realignment or investment in new technologies that are not immediately apparent through budget figures alone.
  • The Pentagon's logistical challenges in replenishing stockpiles could be seen as an opportunity to modernize and reassess defense priorities rather than a straightforward weakening of military readiness.
  • Inflation is a complex issue influenced by global economic conditions, and the administration's policies may be aimed at addressing long-term economic stability rather than short-term fluctuations.
  • High Treasury bill rates could reflect market expectations and may not necessarily contradict the administration's economic policies or narratives.
  • The proposed $7.3 trillion budget could be intended to address pressing domestic issues such as infrastructure, healthcare, and education, which may justify higher spending levels.
  • Tax hikes on the wealthy and corporations could be part of a strategy to address income inequality and ensure a fairer tax system.
  • Subsidies can be an effective tool for reducing costs in certain sectors, and their impact on prices can vary depending on the market and the design of the subsidy program.
  • Trump's change in stance on TikTok could reflect a genuine reassessment of the platform's role in American culture and its potential benefits, rather than purely political motives.
  • The influence of individuals like Jeff Yass on Trump's policy positions may be overstated, and Trump's decisions could be based on a variety of factors, including broader political strategy and public opinion.
  • Policy positions can evolve over time, and it is not necessarily problematic for individuals or politicians to change their views in response to new information or changing circumstances.

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free
Spending Like There’s No Tomorrow

Biden's Vulnerability in 2024 Due to Dementia and Bad Policies

Shapiro discusses how President Joe Biden's potential senility combined with what he considers bad policies could make him vulnerable in the 2024 presidential election.

Underfunding of Military Spending

Shapiro criticizes the Biden administration's approach to military spending. While the proposed budget increases national defense spending to $895 billion, Shapiro argues that considering inflation, this amounts to a cut in funding. Additionally, he points out that defense spending as a percentage of GDP is projected to fall to 2.4% by 2034 and mentions the Pentagon's current inability to replace the $10 billion worth of weapons sent to Ukraine due to congressional gridlock, which could affect U.S. military preparedness.

High Inflation and Interest Rates Hurting Economy

Shapiro addresses economic challenges under Biden's presidency, particularly the 3.2% consumer price increase over the previous year, above the Federal Reserve's target. High inflation has prevented a reduction in interest rates, impacting consumer sectors such as housing due to higher mortgage rates. Shapiro also criticizes the budget's economic forecast, which predicts high Treasury bill rates and contradicts Biden's optimism on interest rate cuts.

Biden's Proposed $7.3 Trillion 2025 Budget with Tax Increases and Deficit Spending

Discussing Biden's fiscal 2025 budget, which proposes $7 ...

Here’s what you’ll find in our full summary

Registered users get access to the Full Podcast Summary and Additional Materials. It’s easy and free!
Start your free trial today

Biden's Vulnerability in 2024 Due to Dementia and Bad Policies

Additional Materials

Clarifications

  • The budget proposal mentioned in the text is for the fiscal year 2025 and amounts to $7.3 trillion in spending. This proposed budget includes tax increases on the wealthy and large corporations to fund various government programs and initiatives. Critics argue that the level of expenditure is unprecedented and unnecessary outside of extraordinary circumstances like war or pandemics. They also express concerns that the proposed tax increases could have implications for businesses and the economy.
  • Inflation can lead to higher interest rates as central banks try to control rising prices. Higher interest rates ...

Counterarguments

  • The assessment of Biden's cognitive health should be based on medical evaluations, not political commentary, and there is no confirmed diagnosis of dementia publicly disclosed by any credible medical source.
  • Military spending needs to be balanced with other budgetary priorities, and an increase in nominal terms may still address key defense needs.
  • Defense spending as a percentage of GDP is just one metric, and absolute spending or spending relative to specific threats may be more relevant measures of military preparedness.
  • Inflation is a global issue influenced by many factors, including the COVID-19 pandemic and geopolitical tensions, not solely the policies of the current administration.
  • Interest rates are set by the Federal Reserve, an independent body, to manage inflation, and are not directly controlled by presidential policy.
  • The economic forecast is a projection that can vary based on numerous unpredictable economic factors, and differing opinions on future interest rates are common among economists.
  • The proposed budget may reflect the administratio ...

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free
Spending Like There’s No Tomorrow

Trump's Flip-Flop on Banning TikTok Due to Political Relationships and Younger Voter Appeal

Former President Donald Trump has made a notable shift in his position on TikTok, a popular social media platform among young voters, which may reflect considerations for political relationships and the influence over younger voter demographics.

Donald Trump attempted to address TikTok with an executive order due to national security concerns, but he has recently stated that banning it would upset young people and could inadvertently benefit Facebook, a platform he has criticized. Shapiro points out this change in Trump's stance is unexpected since he had supported actions against TikTok in the past.

TikTok, recognized for its significant appeal to younger voters who are currently disenchanted with Biden, sees high activity from prominent MAGA figures and conservative comedians. Shapiro suggests that Trump may now recognize the app's political leverage among younger voters, influencing his revised stance.

Trump's recent praise for Jeff Yass, who has a financial interest in ByteDance, TikTok's parent company, is con ...

Here’s what you’ll find in our full summary

Registered users get access to the Full Podcast Summary and Additional Materials. It’s easy and free!
Start your free trial today

Trump's Flip-Flop on Banning TikTok Due to Political Relationships and Younger Voter Appeal

Additional Materials

Clarifications

  • TikTok's appeal to younger voters stems from its engaging short-form video content that resonates with this demographic. Younger voters, often disenchanted with traditional political figures, find a platform like TikTok influential due to its ability to showcase diverse voices and perspectives. Politicians, like Trump, recognize the potential political leverage of engaging with TikTok's audience to sway opinions and gain support. This connection between TikTok, younger voters, and political leverage highlights the evolving landscape of political communication and outreach strategies.
  • Jeff Yass's financial interest in ByteDance, TikTok's parent company, is significant because it suggests a potential conflict of interest for Donald Trump, as Yass's financial ties could influence Trump's stance on TikTok. Yass's connection to ByteDance may raise questions about the motivations behind Trump's recent shift in position regarding the social media platform. This financial interest adds a layer of complexity to the discussion around Trump's evolving views on TikTok and highlights the interconnected relationships betwe ...

Counterarguments

  • It's possible that Trump's shift on TikTok isn't primarily due to political relationships or younger voter appeal, but rather a reassessment of the national security threat or a broader change in policy perspective.
  • The assertion that Trump changed his stance to avoid upsetting young people could be challenged by suggesting that his decision was based on new information or a strategic political calculation unrelated to voter sentiment.
  • The idea that Tikok's appeal among younger voters disenchanted with Biden is a driving factor for Trump's change in stance could be countered by arguing that Trump's decision-making is more influenced by broader political trends or economic considerations.
  • The connection between Trump's praise for Jeff Yass and his change in position on TikTok could be coincidental, and there may be other undisclosed reasons for his shift in stance.
  • The suggestion that many are changing their stance on TikTok ...

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free

Create Summaries for anything on the web

Download the Shortform Chrome extension for your browser

Shortform Extension CTA