July 4, 2025 • 14 mins
🏛️ Legislative Milestone
- The episode opens with the announcement that Congress has passed what is described as the “biggest tax deduction of your lifetime,” referred to repeatedly as the “Big Beautiful Bill.”
- The bill passed with a narrow margin (218–214), and Speaker Johnson is portrayed as a central figure in its success.
- The passage is framed as a major Republican victory, with strong partisan language contrasting Republican celebration with Democratic opposition.
🇺🇸 Patriotic and Religious Rhetoric
- The speech by Speaker Johnson is filled with patriotic references, religious overtones, and historical allusions.
- He emphasizes belief in America, God, and the founding principles of the nation, quoting the Declaration of Independence and Abraham Lincoln.
- The bill is framed as a fulfillment of the Founders’ vision and a restoration of American greatness.
📉 Criticism of Democrats and the Previous Administration
- The podcast harshly criticizes the Democratic Party, referring to them as “socialist communists and Marxists.”
- It blames the Biden-Harris administration for economic mismanagement, labeling their policies as “radical woke” and a “disaster.”
- Hakeem Jeffries is mentioned for delivering a record-breaking 8-hour speech in opposition to the bill.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It just shows you when you can get every story,
one hundred percent of the stories, no matter what you do,
that's good.
Speaker 2 (00:05):
They make it as bad as possible. But the fake
news hit me with eggs.
Speaker 1 (00:09):
Remember the first week, four days, eggs are through the roof.
Speaker 3 (00:12):
I said, I just got here.
Speaker 2 (00:13):
What's going on with eggs?
Speaker 3 (00:14):
Tell me I didn't hear about it.
Speaker 4 (00:16):
If you're listening to the forty seven Morning Update with
Ben Ferguson.
Speaker 5 (00:20):
Happy before the July so nice to have you with
us on the forty seven Morning Update, and we've got
exciting news, including the fact that at five o'clock Donald
Trump is going to sign the Big Beautiful Bill in
the law. We also are going to cover another big story,
and that is how everyone got it wrong with the
jobs numbers that show a major resurgence in our economy.
(00:44):
It's the forty seven Morning Update and it starts right now.
Speaker 4 (00:47):
Story number one.
Speaker 5 (00:48):
Congratulations America, you just got the biggest tax deduction of
your lifetime after Congress sent Donald Trump the Big Beautiful
Bill to his desk after a dramatic all night House vote.
Speaker 2 (01:05):
If you missed it because.
Speaker 5 (01:06):
It was an all nighter, this is what it sounded
like when Speaker Johnson walked up to the best job
there is in Washington right now, that job of him
being in charge of passing the big beautiful bill in
the House. And here is what he said, and listened
to the reaction in the room on the floor of
the House, so.
Speaker 2 (01:25):
He had to impose a deadline. It just happened to
coincide with our two and forty.
Speaker 6 (01:31):
Nine birthdayser to eighteen the laser two fourteen.
Speaker 2 (01:36):
The motion is adopted with that objection.
Speaker 6 (01:55):
The motion to reconsider is laid on the table.
Speaker 5 (01:57):
There it is the House passing a big beautiful bill,
chanting ussay, ussay, ussay. Now, don't get too excited. Only
half the room was chanting at ussay. The other side
of the room was angry. That would be your socialist,
communists and Marxist masquerading as the Democratic Party. And it
didn't take long to hear exactly what the President's plans were.
(02:21):
After the Republicans delivered, the President said, I'm signing this
sucker Friday afternoon at the White House five o'clock Eastern. Yes,
and an effort to delay Thursday's vote. The majority leader,
by the way, didn't want there to be a fourth
of July celebration. Hakim Jeffries, that Democrat from New York,
spoke for eight hours and forty four minutes, breaking a
(02:44):
record for the longest House floor speech. Jeffrey decried what
he said were terrible cuts to things like Medicaid and yes,
we did cut of legal immigrants from abusing the program.
He also said this was the worst legislation and it
was a quote crime scene from the floor of the House. Meanwhile,
Donald Trump went to Iowa to showcase next year's celebration
(03:08):
of the nation's two hundred and fiftieth birthday. So there's
two different Americas right now, the one where Democrats hate
you getting more of your money, and there are others
on the other side that are celebrating the largest tax
break the American population in my lifetime has ever seen.
The present making it clear that it is his job
(03:30):
to do whatever it takes to get our economy rolling again.
And when the Republicans had their press conference and the
Leader of the House, the Speaker, came to the podium,
here's what he had to say.
Speaker 6 (03:42):
This is the vote tally card. We're gonna frame this one,
Okay to eighteen two fourteen. Listen I'm not gonna give
you a long speech. A lot has been said today,
and these people are exhausted. A couple of us quite
literally haven't slept in two days. So I'm a danger
to myself and others right now. I'm not gonna I'm
not gonna speak off the cup. I'll just say this.
I mean, many if you have asked me this question
in the hall of the last couple of days, but
(04:03):
when it looked like that we might actually deliver this thing,
particularly this morning, how did you know? I mean what,
what what kept you going? Why did you did? Why
did you think this was possible? You guys made an
audacious plan. You brought the most comprehensive, complicated piece of
legislation probably arguably in the top two or three in
the history of the Congress, with the smallest margin in
(04:23):
US history, which we had for big chunk of the
first hundred days. And you and you put this audacious timeline.
You said you're going to pass it out of the
House by Memorial Day. I mean some of you openly
laughed at me when I said that back in early February.
And then we said we would get it done by
July fourth. We beat Memorial Day by four days, and
we got this one done a day early. I just
want to point out, Okay, I got to schedule the
(04:44):
under watch. So the question was, I mean, like, why
why did you do that? Why did you think that
was possible? Because it just it sums up. I was
someb it up with one word, it's it's belief. Okay.
We had a vision for what we want to do
as a group. We believed in the election cycle last
fall that we were going to be given this great
(05:05):
blessing of unified government, that we would have the White
House and the Senate and the House aligned and alignment
unified government. And we did not want to waste that
opportunity because we understand the history that comes along with it,
the opportunity that we can do for the country, and
we believe that we would have that chance. And then
I believe in the people that are standing here behind me.
I believe in this group, every single one of them individually.
Some of them are more fun to deal with than others.
Speaker 3 (05:26):
You know.
Speaker 6 (05:28):
I mean that with the greatest level of respect. I
love every single one of my colleagues, you know, even
the ones I gotta spend the more time with right,
because everybody's here, their motive is right, their heart is right.
They're trying to do right for their constituents. They're trying
to serve the greatest nation and the history of the
world that we're going to celebrate tomorrow. We don't take
that lightly. I know their hearts, and I know what
their skill sets are, and I know what they bring
(05:48):
to the table, and I get up every day excited
because I know that each of them are going to
bring that to the table and they're going to serve
their constituents. You could not have a greater group of
public servants in the People's in this room right here.
They will give their all for this country, and man,
that's what the Framers intended when they put this thing
together two hundred and forty nine years ago. This is
what it was about. So I believe, I believed in
(06:10):
this vision. I believed in the group. I believe in America.
I believe we had a RAI station. I'm gonna say
this very simply, and everybody here would articulate it in
their own way. We had a tough four years before
this last election cycle. America was in We're in deep
(06:31):
trouble and we knew that if we won, and we
believe we would, we knew that if we got unified government,
we'd have to quite literally fix every area of public policy.
Everything was an absolute disaster under the Biden Harris radical woke,
progressive Democrat regime. And we took the best effort that
we could in one big, beautiful bill to fix as
(06:51):
much of it.
Speaker 2 (06:52):
As we could.
Speaker 6 (06:52):
And I am so grateful to God that we got
that done as we did because of the dedication. Yeah, lastly,
it's no secret I do believe in God. I believe
in that motto that I've referenced in the floor speech
of a while ago. I believe that that is what
has made our nation the greatest in the history of
(07:13):
the world. And some people shake their heads and they
think that's old fashioned or something. That is a fact.
When the Framers put this together, they stepped out in faith.
They did something that no nation had ever done before.
The great statesman philosopher G. K. Chesterson, a great Britain,
said America is the only nation in the world it
was founded upon a creed, and he said it's listed
with almost theological lucidity or clarity in the nation's birth certificate.
(07:35):
The Declaration of Independence. We owed these trees to be
self but evident that we recognize, we boldly proclaim the
self evident truth that our rights do not come from
the government. They come from God himself. He's the one
that gave us our rights.
Speaker 3 (07:47):
That's got.
Speaker 6 (07:54):
Abraham Lincoln sad in the Gettysburg Address. We are dedicated
to this proposition, one nation under God, a government of
the people, by the people, for the people, shall not
perish from the earth. This is an experiment. It's only
two hundred and forty nine years, y'all. That's not a
long span of time in human history. It's just a
real blip on the whole scale of human history. It
is up to us to say it. It's up to
the duly elected representatives of the people to come here
(08:16):
and represent and it's up to every single one of us,
of the people, by the people, for the people, all
of us. So you've got to be engaged, and we
got to pass this along in the next generation. Reagan
reminded us freedom's not inherited in the bloodstream. It's got
to be protected, it's got to be bought for, it's
got to be taught to the next generation. So that
they will have the same liberty, opportunity and security that
we have all known and too often take it for granted.
(08:37):
So I just want to say, we're going to get
to the main event here. We're about to sign this
bill and get it over to the White House.
Speaker 5 (08:41):
Okay, Speaker Johnson, making it clear that the Republican Party,
as slim as the majority as in the House, is
working together to deliver on all of these important issues.
As for the President of United States of America, he
couldn't be happier to deliver to the American people on
the fourth of July a massive bill that protects families
(09:05):
and allows.
Speaker 2 (09:06):
You to keep more of your money in your own pocket.
Speaker 4 (09:09):
Now, story number two.
Speaker 5 (09:10):
It's amazing what happens when you get a real president
in the White House, the President Donald Trump in office.
The US economy is continuing to revitalize and grow. It's
no longer the fake numbers that we know were given
out by Joe Biden, where they just lied and made
up hundreds of thousands of jobs that never existed. Yeah,
(09:32):
we found out that they created nearly a million jobs
that didn't exist just to try to get them re elected.
Remember when they were talking about the build back better days. Yeah,
and Bidenomics, well, it was a disaster, but under Donald Trump.
The June job report showed another massive win for the
American people. It's once again exceeding expectations big time. Now,
(09:58):
the best part of all with all of that this
news is how the media is well having to deal
with it. Fox News dealt with it the appropriate way
by giving you good news. In fact, they made it
pretty short, just twenty six seconds when the numbers came
out about job growth.
Speaker 2 (10:13):
Take a listen, it's a.
Speaker 7 (10:15):
Fox News alert. The June jobs report just released and
it shows the US added one hundred and forty seven
thousand jobs last month. That is stronger than expected. Revisions
to April and May reports also show sixteen thousand more
jobs created than previously reported and the unemployment rate unexpectedly
falling to four point one percent. So a strong report. Guys,
(10:37):
that's good news heading into this holiday weekend.
Speaker 5 (10:39):
Good news right heading into the weekend. Great way of
putting it. But what did they actually say at other
networks when they had to deal with the reality that
US job growth continued at a steady pace last month,
surprising many of the doom and gloom economists right, that
had actually predicted rooting against America and the president a
slowed down in hiring amid what they said was well
(11:02):
Donald Trump's insane trade war in his fiscal policy. Well,
here's how CNN had to report it to you. Enjoy it.
Speaker 2 (11:11):
You expected some of this, but this is better than.
Speaker 3 (11:14):
Expected, Yeah, Sarah, it is. Look, this jobs market is
like the energizer bunny. Every single time we expected to
run out of steam, it just keeps going and going.
So these new numbers show that the US economy added
one hundred and forty seven thousand jobs in June. That
was well ahead of the expectation of about one hundred
and eighteen thousand, well ahead of some whispers that we
(11:35):
heard on Wall Street of a sub one hundred thousand number.
So this is indeed beating expectations. We were also expecting
a slowdown, we did not get that. This is basically
in line with May, which was revised higher.
Speaker 2 (11:48):
It's also good news.
Speaker 3 (11:48):
The unemployment rate was expected to go up. It didn't.
It went down to four point one percent. That is
a very healthy number. This is still relatively his store low,
and again it's below the four point three percent that
we had expected.
Speaker 2 (12:03):
You just got to laugh.
Speaker 5 (12:05):
Even CNN, in their own words, says their quote, we
were expecting a slow down. We did not get that.
These numbers are what we got without passing the big
beautiful bill. So what does that mean? You could expect
the numbers to get even better now. CNN's John Bergman
was pained to tell his audience the predictions of the
(12:26):
job losses right, which means people are actually out of work,
that's terrible for families, and the inflation due to terror policy,
well they were wrong.
Speaker 2 (12:35):
Here's how he described it again.
Speaker 1 (12:37):
Since you know, March and before, there were predictions that
the terroriffs and I granted a lot of them have
been pulled back, most of them pulled back. But all
that terror of policy was going to lead perhaps to inflation,
would lead to job losses, predictions of doom.
Speaker 2 (12:52):
That doom just hasn't happened yet.
Speaker 8 (12:53):
It hasn't happened. And you know, John, I've been doing
a lot of reporting on this topic. What I'm hearing
is that for the last few year, really since COVID,
but even before, companies have realized that their supply chains
can be interrupted for lots of reasons. For a virus
for a geopolitical event, for a war, for a climate event.
And so they've been using technology to really streamline things.
(13:15):
They've been getting their their systems in place, and there's
just a lot more efficiency in the system now. In
some ways, I think this is a triumph of business
and how business has been optimizing.
Speaker 6 (13:26):
Now.
Speaker 8 (13:27):
That said, when we think about who's going to do
well in this period, it's going to be big businesses.
I am hearing that there's more pressure on small and
mid sized businesses that will be far less able to
cope with whatever tariff inflationary impact we do see. That
concerns me because small and mid sized businesses are what
fuels a lot of communities around the country. If you
(13:47):
see them going under because they can't take even a
little bit of teriff pressure that could have a job's impact.
So again, optimistic right now, but it's you know, there
are some issues on the horizon.
Speaker 2 (13:58):
Still, don't worry.
Speaker 5 (13:59):
We still have if you're doom and gloom for you
that you know it could be just around the corner.
Even though we got this one completely wrong, you gotta
wonder how much they really hate America when this is
the type of commentary you get, I mean this type
of commentary. It's truly incredible. You hear it, and they're
really not happy that more Americans are at work now
(14:19):
than we've seen in a long time.
Speaker 2 (14:21):
Don't worry.
Speaker 5 (14:22):
We've got President Donald Trump in the White House, Republicans
in charge in the Senate and the House, and that
should make everyone happy.
Speaker 4 (14:30):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here tomorrow.
It just shows you when you can get every story,
one hundred percent of the stories, no matter what you do,
that's good.
Speaker 2 (00:05):
They make it as bad as possible. But the fake
news hit me with eggs.
Speaker 1 (00:09):
Remember the first week, four days, eggs are through the roof.
Speaker 3 (00:12):
I said, I just got here.
Speaker 2 (00:13):
What's going on with eggs?
Speaker 3 (00:14):
Tell me I didn't hear about it.
Speaker 4 (00:16):
If you're listening to the forty seven Morning Update with
Ben Ferguson.
Speaker 5 (00:20):
Happy before the July so nice to have you with
us on the forty seven Morning Update, and we've got
exciting news, including the fact that at five o'clock Donald
Trump is going to sign the Big Beautiful Bill in
the law. We also are going to cover another big story,
and that is how everyone got it wrong with the
jobs numbers that show a major resurgence in our economy.
(00:44):
It's the forty seven Morning Update and it starts right now.
Speaker 4 (00:47):
Story number one.
Speaker 5 (00:48):
Congratulations America, you just got the biggest tax deduction of
your lifetime after Congress sent Donald Trump the Big Beautiful
Bill to his desk after a dramatic all night House vote.
Speaker 2 (01:05):
If you missed it because.
Speaker 5 (01:06):
It was an all nighter, this is what it sounded
like when Speaker Johnson walked up to the best job
there is in Washington right now, that job of him
being in charge of passing the big beautiful bill in
the House. And here is what he said, and listened
to the reaction in the room on the floor of
the House, so.
Speaker 2 (01:25):
He had to impose a deadline. It just happened to
coincide with our two and forty.
Speaker 6 (01:31):
Nine birthdayser to eighteen the laser two fourteen.
Speaker 2 (01:36):
The motion is adopted with that objection.
Speaker 6 (01:55):
The motion to reconsider is laid on the table.
Speaker 5 (01:57):
There it is the House passing a big beautiful bill,
chanting ussay, ussay, ussay. Now, don't get too excited. Only
half the room was chanting at ussay. The other side
of the room was angry. That would be your socialist,
communists and Marxist masquerading as the Democratic Party. And it
didn't take long to hear exactly what the President's plans were.
(02:21):
After the Republicans delivered, the President said, I'm signing this
sucker Friday afternoon at the White House five o'clock Eastern. Yes,
and an effort to delay Thursday's vote. The majority leader,
by the way, didn't want there to be a fourth
of July celebration. Hakim Jeffries, that Democrat from New York,
spoke for eight hours and forty four minutes, breaking a
(02:44):
record for the longest House floor speech. Jeffrey decried what
he said were terrible cuts to things like Medicaid and yes,
we did cut of legal immigrants from abusing the program.
He also said this was the worst legislation and it
was a quote crime scene from the floor of the House. Meanwhile,
Donald Trump went to Iowa to showcase next year's celebration
(03:08):
of the nation's two hundred and fiftieth birthday. So there's
two different Americas right now, the one where Democrats hate
you getting more of your money, and there are others
on the other side that are celebrating the largest tax
break the American population in my lifetime has ever seen.
The present making it clear that it is his job
(03:30):
to do whatever it takes to get our economy rolling again.
And when the Republicans had their press conference and the
Leader of the House, the Speaker, came to the podium,
here's what he had to say.
Speaker 6 (03:42):
This is the vote tally card. We're gonna frame this one,
Okay to eighteen two fourteen. Listen I'm not gonna give
you a long speech. A lot has been said today,
and these people are exhausted. A couple of us quite
literally haven't slept in two days. So I'm a danger
to myself and others right now. I'm not gonna I'm
not gonna speak off the cup. I'll just say this.
I mean, many if you have asked me this question
in the hall of the last couple of days, but
(04:03):
when it looked like that we might actually deliver this thing,
particularly this morning, how did you know? I mean what,
what what kept you going? Why did you did? Why
did you think this was possible? You guys made an
audacious plan. You brought the most comprehensive, complicated piece of
legislation probably arguably in the top two or three in
the history of the Congress, with the smallest margin in
(04:23):
US history, which we had for big chunk of the
first hundred days. And you and you put this audacious timeline.
You said you're going to pass it out of the
House by Memorial Day. I mean some of you openly
laughed at me when I said that back in early February.
And then we said we would get it done by
July fourth. We beat Memorial Day by four days, and
we got this one done a day early. I just
want to point out, Okay, I got to schedule the
(04:44):
under watch. So the question was, I mean, like, why
why did you do that? Why did you think that
was possible? Because it just it sums up. I was
someb it up with one word, it's it's belief. Okay.
We had a vision for what we want to do
as a group. We believed in the election cycle last
fall that we were going to be given this great
(05:05):
blessing of unified government, that we would have the White
House and the Senate and the House aligned and alignment
unified government. And we did not want to waste that
opportunity because we understand the history that comes along with it,
the opportunity that we can do for the country, and
we believe that we would have that chance. And then
I believe in the people that are standing here behind me.
I believe in this group, every single one of them individually.
Some of them are more fun to deal with than others.
Speaker 3 (05:26):
You know.
Speaker 6 (05:28):
I mean that with the greatest level of respect. I
love every single one of my colleagues, you know, even
the ones I gotta spend the more time with right,
because everybody's here, their motive is right, their heart is right.
They're trying to do right for their constituents. They're trying
to serve the greatest nation and the history of the
world that we're going to celebrate tomorrow. We don't take
that lightly. I know their hearts, and I know what
their skill sets are, and I know what they bring
(05:48):
to the table, and I get up every day excited
because I know that each of them are going to
bring that to the table and they're going to serve
their constituents. You could not have a greater group of
public servants in the People's in this room right here.
They will give their all for this country, and man,
that's what the Framers intended when they put this thing
together two hundred and forty nine years ago. This is
what it was about. So I believe, I believed in
(06:10):
this vision. I believed in the group. I believe in America.
I believe we had a RAI station. I'm gonna say
this very simply, and everybody here would articulate it in
their own way. We had a tough four years before
this last election cycle. America was in We're in deep
(06:31):
trouble and we knew that if we won, and we
believe we would, we knew that if we got unified government,
we'd have to quite literally fix every area of public policy.
Everything was an absolute disaster under the Biden Harris radical woke,
progressive Democrat regime. And we took the best effort that
we could in one big, beautiful bill to fix as
(06:51):
much of it.
Speaker 2 (06:52):
As we could.
Speaker 6 (06:52):
And I am so grateful to God that we got
that done as we did because of the dedication. Yeah, lastly,
it's no secret I do believe in God. I believe
in that motto that I've referenced in the floor speech
of a while ago. I believe that that is what
has made our nation the greatest in the history of
(07:13):
the world. And some people shake their heads and they
think that's old fashioned or something. That is a fact.
When the Framers put this together, they stepped out in faith.
They did something that no nation had ever done before.
The great statesman philosopher G. K. Chesterson, a great Britain,
said America is the only nation in the world it
was founded upon a creed, and he said it's listed
with almost theological lucidity or clarity in the nation's birth certificate.
(07:35):
The Declaration of Independence. We owed these trees to be
self but evident that we recognize, we boldly proclaim the
self evident truth that our rights do not come from
the government. They come from God himself. He's the one
that gave us our rights.
Speaker 3 (07:47):
That's got.
Speaker 6 (07:54):
Abraham Lincoln sad in the Gettysburg Address. We are dedicated
to this proposition, one nation under God, a government of
the people, by the people, for the people, shall not
perish from the earth. This is an experiment. It's only
two hundred and forty nine years, y'all. That's not a
long span of time in human history. It's just a
real blip on the whole scale of human history. It
is up to us to say it. It's up to
the duly elected representatives of the people to come here
(08:16):
and represent and it's up to every single one of us,
of the people, by the people, for the people, all
of us. So you've got to be engaged, and we
got to pass this along in the next generation. Reagan
reminded us freedom's not inherited in the bloodstream. It's got
to be protected, it's got to be bought for, it's
got to be taught to the next generation. So that
they will have the same liberty, opportunity and security that
we have all known and too often take it for granted.
(08:37):
So I just want to say, we're going to get
to the main event here. We're about to sign this
bill and get it over to the White House.
Speaker 5 (08:41):
Okay, Speaker Johnson, making it clear that the Republican Party,
as slim as the majority as in the House, is
working together to deliver on all of these important issues.
As for the President of United States of America, he
couldn't be happier to deliver to the American people on
the fourth of July a massive bill that protects families
(09:05):
and allows.
Speaker 2 (09:06):
You to keep more of your money in your own pocket.
Speaker 4 (09:09):
Now, story number two.
Speaker 5 (09:10):
It's amazing what happens when you get a real president
in the White House, the President Donald Trump in office.
The US economy is continuing to revitalize and grow. It's
no longer the fake numbers that we know were given
out by Joe Biden, where they just lied and made
up hundreds of thousands of jobs that never existed. Yeah,
(09:32):
we found out that they created nearly a million jobs
that didn't exist just to try to get them re elected.
Remember when they were talking about the build back better days. Yeah,
and Bidenomics, well, it was a disaster, but under Donald Trump.
The June job report showed another massive win for the
American people. It's once again exceeding expectations big time. Now,
(09:58):
the best part of all with all of that this
news is how the media is well having to deal
with it. Fox News dealt with it the appropriate way
by giving you good news. In fact, they made it
pretty short, just twenty six seconds when the numbers came
out about job growth.
Speaker 2 (10:13):
Take a listen, it's a.
Speaker 7 (10:15):
Fox News alert. The June jobs report just released and
it shows the US added one hundred and forty seven
thousand jobs last month. That is stronger than expected. Revisions
to April and May reports also show sixteen thousand more
jobs created than previously reported and the unemployment rate unexpectedly
falling to four point one percent. So a strong report. Guys,
(10:37):
that's good news heading into this holiday weekend.
Speaker 5 (10:39):
Good news right heading into the weekend. Great way of
putting it. But what did they actually say at other
networks when they had to deal with the reality that
US job growth continued at a steady pace last month,
surprising many of the doom and gloom economists right, that
had actually predicted rooting against America and the president a
slowed down in hiring amid what they said was well
(11:02):
Donald Trump's insane trade war in his fiscal policy. Well,
here's how CNN had to report it to you. Enjoy it.
Speaker 2 (11:11):
You expected some of this, but this is better than.
Speaker 3 (11:14):
Expected, Yeah, Sarah, it is. Look, this jobs market is
like the energizer bunny. Every single time we expected to
run out of steam, it just keeps going and going.
So these new numbers show that the US economy added
one hundred and forty seven thousand jobs in June. That
was well ahead of the expectation of about one hundred
and eighteen thousand, well ahead of some whispers that we
(11:35):
heard on Wall Street of a sub one hundred thousand number.
So this is indeed beating expectations. We were also expecting
a slowdown, we did not get that. This is basically
in line with May, which was revised higher.
Speaker 2 (11:48):
It's also good news.
Speaker 3 (11:48):
The unemployment rate was expected to go up. It didn't.
It went down to four point one percent. That is
a very healthy number. This is still relatively his store low,
and again it's below the four point three percent that
we had expected.
Speaker 2 (12:03):
You just got to laugh.
Speaker 5 (12:05):
Even CNN, in their own words, says their quote, we
were expecting a slow down. We did not get that.
These numbers are what we got without passing the big
beautiful bill. So what does that mean? You could expect
the numbers to get even better now. CNN's John Bergman
was pained to tell his audience the predictions of the
(12:26):
job losses right, which means people are actually out of work,
that's terrible for families, and the inflation due to terror policy,
well they were wrong.
Speaker 2 (12:35):
Here's how he described it again.
Speaker 1 (12:37):
Since you know, March and before, there were predictions that
the terroriffs and I granted a lot of them have
been pulled back, most of them pulled back. But all
that terror of policy was going to lead perhaps to inflation,
would lead to job losses, predictions of doom.
Speaker 2 (12:52):
That doom just hasn't happened yet.
Speaker 8 (12:53):
It hasn't happened. And you know, John, I've been doing
a lot of reporting on this topic. What I'm hearing
is that for the last few year, really since COVID,
but even before, companies have realized that their supply chains
can be interrupted for lots of reasons. For a virus
for a geopolitical event, for a war, for a climate event.
And so they've been using technology to really streamline things.
(13:15):
They've been getting their their systems in place, and there's
just a lot more efficiency in the system now. In
some ways, I think this is a triumph of business
and how business has been optimizing.
Speaker 6 (13:26):
Now.
Speaker 8 (13:27):
That said, when we think about who's going to do
well in this period, it's going to be big businesses.
I am hearing that there's more pressure on small and
mid sized businesses that will be far less able to
cope with whatever tariff inflationary impact we do see. That
concerns me because small and mid sized businesses are what
fuels a lot of communities around the country. If you
(13:47):
see them going under because they can't take even a
little bit of teriff pressure that could have a job's impact.
So again, optimistic right now, but it's you know, there
are some issues on the horizon.
Speaker 2 (13:58):
Still, don't worry.
Speaker 5 (13:59):
We still have if you're doom and gloom for you
that you know it could be just around the corner.
Even though we got this one completely wrong, you gotta
wonder how much they really hate America when this is
the type of commentary you get, I mean this type
of commentary. It's truly incredible. You hear it, and they're
really not happy that more Americans are at work now
(14:19):
than we've seen in a long time.
Speaker 2 (14:21):
Don't worry.
Speaker 5 (14:22):
We've got President Donald Trump in the White House, Republicans
in charge in the Senate and the House, and that
should make everyone happy.
Speaker 4 (14:30):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here tomorrow.
Host
Ben Ferguson
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