Episode Transcript
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Speaker 1 (00:01):
Your voice sounds a little rough for you're filling ron.
Speaker 2 (00:03):
I feel great. I was shouting at people because they
was stupid about something having to do with trade in
a country, and I straightened it out. But I blew
my stack at these few business.
Speaker 1 (00:17):
You're listening to the forty seven Morning Update with Ben ferguson.
Speaker 3 (00:21):
Good Tuesday Morning. It's nice to have you with us
on the forty seven Morning Update, and it is really
fun to watch what President Trump is doing right now,
as he hosted the McDonald's Impact Summit twenty twenty five,
focusing on all of the success over the last nine
months of the Trump administration with the economy. This is
(00:41):
democrats and media are trying to convince Americans that Donald
Trump's economy is a disaster. Well, we've got the receipts
and they couldn't be further from the truth, and the
President sharing it with the world. But first, I want
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It's the forty seven Morning Update and it starts right now.
Story number one, President Trump going on offense, reminding the
American people of what America looked like before he became
president the second time, and also reminding you what Democrats
(03:19):
want to do this country economically, and reminding you about
what all has already been accomplished in the last nine months.
As the President described it, we're making big progress on prices,
and we'll keep working to make sure everyone benefits. The
President making it clear at a summit revolving around McDonald's
(03:40):
where one in eight Americans have actually worked, that Donald
Trump not only inherited an economic mess when he took office,
but that was because of years of mismanagement under Joe Biden,
his incompetent administration, and Democrats in Congress who also spent
years insisting and lying to you claiming that inflation will
quote transitory, and then they decided to go out trillions
(04:05):
and new spinning and dramatically upscale our government size. This
brought the country to the brink of economic ruin, which
is mainly why Donald Trump was elected. Now, since day one,
the Trump administration has been on a mission to tame
Biden's inflation crisis, stop the sky high Biden price increases,
(04:27):
and lower costs for everyday families. While it can't happen overnight,
the White House says, there is clear evidence that shows
the trend is in the right direction now. President Trump
had to tame Biden's inflation, and under Biden, inflation average
nearly five percent and hitting nine point one percent during
(04:47):
the worst inflation crisis in decades, all of it fueled
by radical left, out of control government spending. In President
Trump's second term, inflation has dropped to an average of
just two point seven percent, significantly lower than the four
year average of five percent under Biden and nine point
(05:08):
one percent of it's all time high. The critical first
step in reversing the Democrat's cost of living disaster. In fact,
under President Trump, Americans have even seen the first overall
price declines since twenty twenty in several different categories. Now,
Americans have made real wage gains as well, and there's
(05:29):
still work to do, the White House says as well,
but let's remind you about where we were. Under Biden,
workers lost more than two thousand, nine hundred dollars in
purchasing power, meaning inflation rose faster than wages. In President
Trump's second term, even after accounting for higher prices, America's
(05:50):
real wages have grown by nearly seven hundred dollars and
are on track to increase by nearly one thy two
hundred after his first full year in office. And then
there's the major prices that we deal with every day.
Gas price is a great example. Under Biden, the average
gas price was the highest it had ever been during
(06:10):
a presidential term, reaching its highest ever price, even after
he drained our strategic oil reserves to artificially decrease pricing
before election day. President Trump's second term, Americans have seen
the lowest average gas price in more than four years,
and we're on track to spend the lowest amount of
(06:31):
their disposable income on gas in the last two decades.
As President Trump's energy dominance vision continues to come to
fruition energy prices, they say, we'll fall even further, igniting
another price decline that will help all Americans. Now, if
you're not happy with the price of the pump, let's
talk about Grocery prices and housing prices are trending also
(06:54):
in the right directions for American workers. Prices for everyday
staples are starting to see declines finally under Donald Trump.
Prices for eggs, for butter, ice cream, fresh fruit, cereal, fish, seafood, rice, pasta,
and ham have all seen declines, and more help is
(07:16):
on the way. Housing costs are also moderating. Under Biden,
mortgage rates at their highest in decades. President Trump's second term,
the average thirty year fixed rate mortgage was six point
one seven percent at the end of October, twelve percent
lower than when he took office that according to the
Consumer Price Index. In fact, the twelve month change in
(07:38):
overall shelter costs is at its lowest level in four
years as well. Now there are other efforts to continue
driving prices down. The President talked about it tonight. Ramping
up take home pay and strengthening our economy. President Trump's
deregulatory efforts are also saving Americans a collective one hundred
and eighty billion. What does that mean for you?
Speaker 2 (08:00):
You?
Speaker 3 (08:00):
Two thousand, one hundred dollars per family of four? For example,
President Trump halted Burdens and biden air efficiency standards that
jacked up the price of everyday appliances. And President Trump
signed into law the largest tax cut in American history.
This includes no tax on tips, no tax on overtime,
(08:22):
and no tax on Social Security, all of which will
save Americans money in their tax returns. The landmark legislation
will raise America's take home pay by as much as
thirteen thousand, three hundred and wages by as much as
eleven thousand, six hundred. So the President decided to take
the stage to talk about exactly where we are. And
(08:45):
I want you to hear what the President had to say.
Speaker 2 (08:48):
Will Democrats wanted to give Americans the largest tax syke
in history. In July, I proudly gave you the largest
tax cuts in American history and signed the one Big
Beautiful Bill. I caught the great big beauty built into
law that includes no tax on tips, no tax on overtime,
and no tax on Social Security for our great seniors.
(09:09):
That is a big deal.
Speaker 3 (09:11):
It's amazing what the President's accomplished already this year. But
the President says I'm not done there, and made a
pledge to the American families, no matter if you're rich
or poor, conservative or liberal, black or white, or anything
else in between. Here's what the present pledged to you.
Speaker 2 (09:28):
In my first term, we built the greatest economy in
the history of the world. And now we're doing it again.
But this time it really is, as I said, much stronger,
much better. I think it's going to be something that
nobody has ever seen before. My pledge to every family
and every small businesses that I will not rest until
you are rich or stronger, more successful, happier, till you've
(09:51):
gotten a piece of the American dream. Some of you
in this room have really gotten a piece of it
because you made a great decision to go with a great,
great company years ago, and it's really pretty amazing. And
that begins with making America. We have to do. The
word is affordable, and affordable should be our word, not theirs.
Because the Democrats got up and try affordability, affordable, and
(10:14):
they don't say that they had the worst inflation in history,
the highest energy prices in history. Everything was the worst.
Speaker 3 (10:21):
President Trump is bringing jobs and investments back to the
US as part of his plan to expand America's economy.
In fact, since President Trump took office, companies have invested trillions,
I want to say that word again, trillions of dollars
into their US based operations, on shoring and creating hundreds
of thousands of new jobs for Americans. President Trump is
(10:45):
also reducing the deficit. A combination of spending cuts, interest savings,
economic growth, and tariff revenues are expected to reduce the
deficit by trillions of dollars, resulting in higher take home pay,
lower interest rates in a much stronger American economy. In fact,
one point nine million more American born workers are employed
(11:08):
today then when President Trump took office. That's one point
nine million Americans who are now happily at work with
a job right now. The US has more people working
now than at any time in the history of our country,
and the Trump administration, he says, will not rest until
the high prices that resulted from democratic policies are fully
(11:32):
rained in. He said, We're making progress, and the best,
he says, is yet to come.
Speaker 2 (11:38):
We're making tremendous progress. One point nine million more American
born workers are employed today than when I took off.
To think of that, one point nine million more today,
and these are American born workers. Nobody thought that was possible.
And we have the strongest borders in the history of
our country. Nobody comes in unless they come in legally.
(11:59):
You see the number. Everyone thinks it's impossible a year ago,
millions of people with storming on borders. Today they only
come in if they come in legally. And wages for
hourly workers arising at the fastest pace in sixty years now.
Speaker 3 (12:12):
The President also made it clear that there's a lot
when it comes to trade deals. We're seeing trade deals
with Switzerland that have just been announced, and we're modifying
tariffs for certain agricultural products. In fact, on Friday, President
Trump signed an executive order exempting certain qualifying agricultural products
from the reciprocal tariffs that he first announced on April
(12:33):
the second. Exemptions are accordingly set to be granted following
a spat of new trade deals being inked with some
of our biggest allies in the Western hemisphere, in addition
to deals that President Trump has already secured with the EU, Japan,
the UK and other major trading partners. What will this
do well. It will give substantial progress in making sure
(12:56):
that American workers are able to export at the same
level that we're importing. And Donald Trump also made it
clear that there are major investments coming into this country
and the tariff money is being used to help American workers,
something that the left and the media said was impossible.
Take a listen about that.
Speaker 2 (13:17):
And to your leader who when we met, I said,
how are you doing with racist prices are coming down?
He said, we were up forty percent because of Biden
and inflation, and they're coming down, and they're coming down rapidly.
So I hope that all continues to go. But we're
really doing well as the country. Most importantly, however, I
will take big picture. We have over seventeen trillion dollars
(13:41):
being invested in our country in nine months. It's now
just about ready to crack eighteen. And by the end
of one year we will have about twenty to twenty
one trillion dollars invested in our country. That's more by
ten times, the highest amount ever invested in eddy country
ever before, and it's largely because of tariffs and I
(14:05):
think November fifth election, but it's the largest amount. As
an example, So if we have twenty year twenty one
in one year, twenty one trillion, think of what that is.
That's car factories, it's ai, it's everything. They're all coming
back because of the tariffs. They're all coming back because
they don't want to pay fifteen twenty thirty one hundred
percent tariff. It wasn't that complicated. People are saying, you know,
(14:28):
Trump was right. It really wasn't that complicated. But it's
been amazing. As an example, if you take me at
twenty for one year, sleepy Joe Biden, you know what,
he was less than one for four years, and if
they got elected, they would have been at minus ten
because people were moving out of the country in record numbers.
Speaker 3 (14:47):
So I hope you'll take the info that I gave
you today, and I hope you'll share it wherever you
can on social media, share this podcast and text messages
with family and friends, because this is the reality of
what's happening. It's a complete opposite of what the left
in the media are selling the American people. They believe
that they are successful right now in convincing most Americans
(15:10):
that somehow the economy is a disaster because of Donald
Trump and that things aren't getting better. In fact, they're
getting worse. But if you look at the facts, that's
just not the truth. Thank goodness, because of President Donald Trump,
it is incredible leadership.
Speaker 1 (15:25):
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