It's One Ballroom, Donald, How Much Could It Cost?

Episode of Pod Save America · May 8, 2026 · 1 h 38 min

Jon Favreau and Dan Pfeiffer discuss the Iran war, Trump's taxpayer-funded ballroom, Vance versus Rubio, gerrymandering and Kash Patel; Jon Lovett interviews Tom Steyer.

Summary

Jon Favreau and Dan Pfeiffer opened with the stalled U.S.–Iran negotiations over a one-page memo to reopen the Strait of Hormuz. Favreau argued that even the best-case deal would approximate the Obama-era nuclear agreement at great cost, while Pfeiffer said economic damage from mines, oil prices and food costs would persist long after any deal. They mocked administration officials such as Kevin Hassett and Scott Bessent for comments on gas prices, with Pfeiffer arguing Trump's team cannot admit problems without admitting Trump failed.

The hosts discussed the emerging 2028 Republican contest between JD Vance and Marco Rubio, with Pfeiffer attributing Rubio's rise to Vance's weakness and highlighting Rubio's past work with Obama on immigration reform. They called the congressional Republican plan to spend $1 billion of taxpayer money on Trump's White House ballroom a political gift to Democrats. On Trump's successful primary challenges against Indiana state senators and new Republican maps in Tennessee and elsewhere, Pfeiffer laid out a three-part Democratic response: win Congress, invest in state legislatures, and pressure blue states to redistrict. They closed on reports that FBI Director Kash Patel handed out engraved bourbon bottles and ordered polygraphs of staff.

In the second half, Jon Lovett interviewed Tom Steyer about his campaign for California governor. Steyer blamed population loss on affordability, defended his management experience, dismissed waste-fraud-and-abuse savings claims by citing DOGE, and discussed teacher pay, housing fees, single-payer health care, a billionaire tax ballot measure he said he would vote for, film tax credits, and criticism of his self-funding of roughly $147 million in the race.

Chapters

1:10
Introduction and show preview
Favreau and Pfeiffer introduce the episode and promote Crooked Con.
3:29
Iran negotiations and the costs of war
The hosts assess the one-page U.S.–Iran memo, renewed fighting, and argue the best-case deal resembles the Obama agreement.
10:37
Gas prices and administration messaging
The hosts mock comments from Trump officials on gas prices and argue the administration cannot acknowledge economic pain.
18:28
Vance versus Rubio for 2028
The hosts discuss Rubio's boomlet, Vance's weaknesses, and Rubio's past immigration work with Obama.
28:09
Trump's ballroom and the $1 billion vote
The hosts discuss Trump's vanity projects and the Republican plan to spend taxpayer money on the ballroom as a gift to Democratic ad makers.
37:36
Indiana primaries and Southern gerrymandering
Pfeiffer puts Trump's Indiana primary wins in perspective and outlines how Democrats should respond to new Republican maps.
45:48
Kash Patel's bourbon and polygraphs
The hosts discuss Atlantic reporting on Patel's engraved bourbon bottles, his lawsuit, and polygraphs of staff.
54:01
Steyer on affordability and management
Lovett presses Steyer on California's costs, his management record, government efficiency, and education.
1:07:30
Housing and local incentives
Steyer and Lovett debate why localities resist housing, permitting fees, and the governor's role.
1:15:10
Single-payer health care
Steyer argues California has no choice but to pursue single payer while Lovett questions whether it addresses voters' main concerns.
1:21:45
Billionaire tax, business climate and Hollywood
Steyer explains his support for the billionaire tax ballot measure, why companies left California, and his plans for film tax credits.
1:32:07
Self-funding and money in politics
Lovett challenges Steyer on spending his fortune on the race, and Steyer argues someone must take on corporate special interests.

Key points

What was said, by whom, with the exact words. Timestamps jump to the moment.

Jon Favreau
Favreau argues that even the best-case outcome of the Iran negotiations would yield little beyond what the Obama deal provided, at great cost.
“But it doesn't seem like we would have gotten much from this best, best, best, best case scenario”
Listen from 6:45 · United States war with Iran
Dan Pfeiffer
Pfeiffer argues that economic damage from the war will persist because clearing mines from the Strait would take months.
“Even if you open the Strait today, the United States government estimates it'll take six months to clear it of mines”
Listen from 9:50 · Strait of Hormuz
Dan Pfeiffer
Pfeiffer argues the Trump administration cannot acknowledge economic pain because doing so would mean admitting Trump failed.
“you cannot admit that things are bad because to admit things are bad is to admit that Trump failed”
Listen from 13:20 · Gas prices and inflation
Dan Pfeiffer
Pfeiffer argues Rubio's rising popularity reflects Vance's weakness more than Rubio's strength.
“I think the Rubio boomlet, as you have deemed it, has more to do with JD Vance sucking than Marco Rubio shining”
Listen from 21:38 · 2028 Republican Party presidential primaries
Dan Pfeiffer
Pfeiffer says Rubio's main liability with the MAGA base is his past work with Obama on an immigration bill offering a path to citizenship.
“Marco Rubio's greatest legislative accomplishment, perhaps his only legislative accomplishment, was to work hand in hand with Barack Obama and Harry Reid”
Listen from 22:56 · 2028 Republican Party presidential primaries
Dan Pfeiffer
Pfeiffer calls the Republican plan to spend $1 billion on the ballroom an unprecedented election-year blunder.
“This is the most insane thing I have ever seen a party do in an election year”
Listen from 30:45 · White House ballroom project
Dan Pfeiffer
Pfeiffer argues the ballroom could become a symbol of waste comparable to Reagan-era scandals over costly hammers and toilet seats.
“The ballroom has the ability to be the equivalent of the whatever was the $600 hammer, the toilet seat, all the things in the Reagan era”
Listen from 33:02 · White House ballroom project
Jon Favreau
Favreau recommends that Democratic candidates tie their Republican opponents to the ballroom in every debate.
“I just think that is the easiest, easiest layup. I don't care if the question is about some local fucking issue”
Listen from 34:01 · White House ballroom project
Dan Pfeiffer
Pfeiffer argues Trump's Indiana primary wins should be kept in perspective given the resources spent against a handful of state senators.
“This is the incumbent president of the White House with the full backing of his political operation in the MAGA movement that spent $9 million to defeat five state senators”
Listen from 39:09 · Redistricting in the United States
Dan Pfeiffer Prediction · due Nov 2026
Pfeiffer predicts Democrats would remain favored to win the House majority even if they lose the Virginia redistricting case.
“I still think even if we lost Virginia, I still think Democrats would be favored to take the majority”
Listen from 42:52 · 2026 United States midterm elections
Dan Pfeiffer
Pfeiffer argues blue states must abandon gerrymandering bans to counter Republican redistricting.
“Because we can't live in a world of unilateral disarmament, and we cannot accept any Democratic politician that does”
Listen from 43:12 · Redistricting in the United States
Dan Pfeiffer
Pfeiffer urges Democrats to invest heavily in state legislative races ahead of future map redraws.
“we have to pour our time, our money, our resources into state legislative races because there's going to be efforts to redraw the maps in 2028”
Listen from 44:10 · Redistricting in the United States
Jon Favreau Prediction · due Dec 2026
Favreau predicts Kash Patel will be out as FBI director by the end of the year.
“I still place a bet on that he's out by the end of the year”
Listen from 49:37 · Federal Bureau of Investigation
Tom Steyer
Steyer attributes California's population loss to its high cost of living, starting with housing and health care.
“California is too expensive for Californians to live in anymore. And it starts with housing, but it certainly includes health care”
Listen from 54:22 · 2026 California gubernatorial election
Tom Steyer
Steyer dismisses promises to fund services by cutting waste, fraud and abuse, citing DOGE as a failure.
“for everybody who says they're going to fund the growth in services from waste, fraud, and abuse, we've seen that movie. It's called Doge. It failed”
Listen from 1:00:14 · Department of Government Efficiency
Tom Steyer
Steyer argues teacher quality is the key to student success and that California teachers are underpaid relative to living costs.
“the by far biggest determinant of student success is how good the teachers are”
Listen from 1:03:27 · 2026 California gubernatorial election
Tom Steyer
Steyer says localities impose large fees on new housing because they fear unfunded service costs.
“the fee to build a house is up to 20% the cost of the house”
Listen from 1:08:38 · Housing affordability in California
Tom Steyer
Steyer argues California must move to single payer because health care cost trends are unsustainable.
“If you look at how much we're spending on health care and how what the trend is. It's not supportable”
Listen from 1:16:54 · Single-payer healthcare
Jon Lovett
Lovett questions whether single payer addresses the main concern of insured working Californians, which he says is cost.
“A single-payer system isn't necessarily something they're looking for. It's not their biggest problem”
Listen from 1:18:59 · Single-payer healthcare
Tom Steyer
Steyer says the billionaire tax is imperfect but that he will vote for it, denying he is being cynical.
“I said it wasn't perfect. But I said, if it's on the ballot, I'll vote for it. And that was the truth”
Listen from 1:24:09 · California billionaire tax ballot measure
Tom Steyer
Steyer argues companies such as Tesla, Oracle and Palantir left California for ideological rather than tax reasons.
“the corporations that left don't like what California stands for”
Listen from 1:27:52 · California billionaire tax ballot measure
Tom Steyer
Steyer supports film tax credits, saying they return more to the state than they cost.
“the tax credits that we give for every dollar we get back $1.14”
Listen from 1:30:05 · 2026 California gubernatorial election
Linked moment · 1:32:07Skip to 1:32:07 using a listen link in the info box.
Jon Lovett
Lovett suggests voters are reluctant to support a candidate using personal wealth to buy name recognition.
“There does seem to be a reluctance to see someone who is using their personal fortune to try to”
Listen from 1:32:44 · Campaign finance in the United States
Tom Steyer
Steyer cites the head of the Western States Petroleum Association as evidence that corporate interests exploit Californians and must be confronted.
“said he thought it was the fiduciary duty of oil companies to take advantage of the Iran war and gouge Californians as much as possible”
Listen from 1:33:32 · Campaign finance in the United States

People

In the conversation

Jon FavreauCo-host of Pod Save America and former speechwriter for President Barack Obama
Dan PfeifferCo-host of Pod Save America, author of the Message Box newsletter, and former White House communications director
Jon LovettCo-host of Pod Save America; diarization split of the same speaker during the economics segment
Tom SteyerDemocratic candidate for governor of California and billionaire investor

Discussed

Donald TrumpPresident of the United States whose conduct of the Iran war is the episode's main subject
JD VanceVice President of the United States
Marco RubioU.S. Secretary of State who defended the Iran campaign at a cabinet meeting
Kash PatelDirector of the Federal Bureau of Investigation
Kevin HassettTrump administration economic official
Scott BessentU.S. Treasury Secretary who criticized Sanders' AI panel
Barack ObamaFormer president referenced in comparing 2010 midterm conditions
Sarah FitzpatrickAtlantic journalist who reported on Kash Patel
Katie PorterDemocratic candidate for governor of California
Eric SwalwellDemocratic U.S. Representative and candidate for governor of California
Xavier BecerraFormer U.S. Health and Human Services Secretary and California attorney general running for governor
Steve HiltonRepublican candidate for governor of California and former Fox News host
Warren BuffettAmerican investor and chairman of Berkshire Hathaway
Betty YeeFormer California state controller who endorsed Steyer
Thomas MassieKentucky congressman facing a Trump-backed primary challenge
Gavin NewsomGovernor of California, cited for his 2018 primary strategy

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From the publisher

Congressional Republicans plan to spend $1 billion in taxpayer money on Trump's ballroom, claiming the money is necessary for "security" — and creating a huge political problem for themselves. The president and his cabinet make a show of ignoring the pain Americans are feeling at the gas pump, as the US and Iran circle around an underwhelming peace deal. JD Vance's 2028 stock slides as Republican voters turn their attention to Marco Rubio. Dan and Jon discuss the latest, including how Democrats should respond to a new wave of Republican gerrymandering in the South and a new report from The Atlantic that Kash Patel has been handing out personalized bottles of bourbon while on the job. Then, Tom Steyer stops by the studio to talk to Lovett about his race for California governor. For a closed-captioned version of this episode, click here . For a transcript of this episode, please email transcripts@crooked.com and include the name of the podcast, episode title, and episode date.

Summary, chapters and key points were generated from the episode transcript on September 28, 2026. Quotes are checked word for word against the transcript.

Categories: Politics·News Commentary