'Is This Really About Wasteful Spending Or Is This About Punishing The Fed?': Reporter Grills Vought

OMB Director Russell Vought was asked about the Trump Administration's Big Beautiful Bill and the attacks on the Federal Reserve.

Transcript

00:00Is this really about wasteful spending or is this about wasting the Fed?

00:03Because, I mean, the One Big Beautiful Bill, for instance, it included $85 million in the space shuttle from D.C. to Houston.

00:10So is this about pressuring the Fed or is it actually about wasteful spending?

00:14Phil, the One Big Beautiful Bill reduced deficits, even on a static basis, by $400 billion.

00:22There was $1.5 trillion in mandatory savings.

00:25We haven't had anything like that since 1997.

00:28In 1997, savings levels adjusted for inflation were only $800 billion.

00:33So to say that the One Big Beautiful Bill was not anything but an enormous improvement on spending, on debt, and deficits,

00:41and in the same vein of all of the things this administration is doing,

00:45we are taking a distinct look at what is occurring on the national law with regard to this Fed,

00:52and we will continue to do that.