January 2, 2026 • 28 mins
-
Gas Prices Declining
- Gas prices have fallen significantly, with national averages dropping below $3 per gallon and some states seeing prices as low as $2.36.
- In contrast under Biden (around $5 per gallon in 2022) and frames this is a major success under Trump.
-
Affordability Narrative
- Affordability is presented as a central issue for elections, Democrats are blaming Trump for economic challenges while data shows improvement.
- Falling costs on consumer goods like smartphones and tablets, inflation is getting under control.
-
Economic Performance
- Strong GDP growth (4.3% in Q3), increased consumer spending, and improved trade balances are contributing factors
- Trump’s policies, including tariffs and tax reforms, are working in contrast with Biden-era “stagflation.”
-
Political Framing
- Biden and Harris depleted strategic oil reserves for political purposes.
- Democratic policies deliberately made energy expensive, California is an example.
- Trump’s upcoming policies (e.g., no tax on tips and overtime starting in 2026).
-
Inflation and Federal Spending
- Inflation is trending downward compared to Biden’s term.
- There are concerns about government borrowing and wasteful spending, citing Senator Rand Paul’s report.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:01):
I've got one big, great piece of news for you,
and that is gas prices are coming down fast. Donald Trump,
talking about gas prices a few days ago, had this
to say.
Speaker 2 (00:14):
We're now at about two dollars and fifty cents a gallon.
We're going to be I think at two dollars a gallon.
We could even crack that at some point. I'd love
to do it, and we could do it more easily
if we weren't building up the strategic national reserves, which
Biden emptied out before the election so that he could
try and get elected, Meaning he started it, then he
(00:35):
got thrown out of the race. Then she took over
and she kept it going, and they emptied out these
strategic national reserves, which are really meant for something else.
They're not meant to keep people happy with against Liviace.
They meant for war. They're meant for problems, big problems.
He emptied it out and then she continued it during
(00:55):
the process of trying to get elected. Didn't work out
too well for him, and they virtually brought it down
to the lowest level I believe in history, and it
didn't have much of an impact because the prices were
very high. But our price is now for energy put
for gasoline are really low. Electricity is coming down, and
(01:16):
when that comes down, everything comes down.
Speaker 1 (01:20):
When that goes down, everything comes down. He's right. There
are people that are saying the president isn't doing enough.
What is wrong with you? State by state? Right now,
I'll give you Alabama for example, what are they saying
about the holiday week gas prices? What are you're paying?
Here's an Alabamas.
Speaker 3 (01:38):
Well canws if you're getting ready for a long drive
during this holiday week, triple A saying you're paying two
dollars fifty six cents on average for a gallon of
regular right now. That's below the national average, which is
two dollars and eighty five cents this week. This time
last year, the average price of gas here in the
state was two seventy four. Gas Buddy says Christmas Day
gas prices will fall to the lowest level since twenty
(02:01):
twenty West.
Speaker 1 (02:03):
The lowest level since twenty twenty, and they want you
to believe that the economy is not going in the
right direction. It's not just Alabama. Check in Ohio local
WTL channel eleven there for hitting.
Speaker 4 (02:16):
The roadways because Toledo area gas prices continuing to trend downward,
which is great news there. A gas Buddy analyst shows
that average gas prices are falling and actually felt nearly
forty cents in the last week gallon of gas on average.
I'm going to talk to you about two forty eight,
which is almost forty one cents lower than a month
(02:37):
ago and more than sixty one cents lower than a
year ago.
Speaker 1 (02:43):
Sixty cents a gallon lower than a year ago. That's real.
But pere, I go, oh no, he's not doing enough.
Really okay, really, we're not like, we're not all right.
So let's just go to another city where they're talking
about this Phoenix, Arizona's not sustainable.
Speaker 5 (02:57):
Where your wallet will find some holiday cheer is that
the gas station. More than one hundred and nine million
Americans are expected to drive to their year end destination,
according to Triple A, up two percent from last year.
Low gas prices are a big reason why. As of Monday,
the national average for a gallon of regular two dollars
eighty five cents, down nineteen cents from last year. If
(03:19):
you're looking for last minute gifts and last minute.
Speaker 6 (03:22):
Savings, consider sporting goods, dish, sets and smartphones, all items that, generally,
according to government inflation data, costs less than they did
last year in Washington.
Speaker 1 (03:33):
Well, did you hear that smartphones are less? Tablets are less? Way,
that can't be right, That can't be happening. No, I
thought everything was bad. I mean, isn't that what they
said to us? They told us that everything's bad? How
can there be this much good news? Because they said
(03:55):
it was terrible news. They said that everything was going
in the wrong direction. Trump was a disaster. I don't
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Affordability it is going to be the issue of the
midterm elections if there was an election today. It's the
issue that Democrats are saying they believe they have the
best footing on to go after Donald Trump, saying that
it's all his fault that affordability is not where you
(05:25):
want it. But then you will get prices. And there
are massive successes that have happened that are the complete
opposite of what Joe Biden and Kamala Harris were doing.
Energy Secretary Chris Wright, for example, pointing to now what
is historic gas prices compared to Biden and the Secretary
of Energy Chris Wright saying this about where the gas
(05:47):
prices are today.
Speaker 7 (05:49):
And you know, I don't think there was there definitely
wasn't a time during the Biden administration when when the
gas went below the price, they came in. Of course,
they came in during the pandemic when prices were very
low because people weren't traveling as much. But they basically
you look at a chart and it's pretty amazing the
way it just stayed up there. It did come down
(06:11):
for the high point of five bucks a gallon, but
it never really came down significantly enough for American car users.
Speaker 8 (06:20):
Imagine if Harris had won the election, where would gasoline
prices be today? How would American consumers feel? I guess
you could visit California and get a preview of that,
where gasoline prices are over fifty percent higher than the
national average. Those are political choices. They're not unfortunate facts.
They're political choices to make energy expensive.
Speaker 1 (06:42):
Now, political choices deliberately to make gas prices expensive. You
also go back to the chart that he was referring to,
and that chart is one that truly is incredible. When
Joe Biden became president November of twenty twenty, gas prices
were about two dollars and twenty cents a gallon. By
(07:03):
June of that of twenty twenty two, the Biden administration
had gotten gas prices up to five dollars and three
cents a gallon average. They then tried to artificially deflate
that price by even releasing all reserves. Why because they
wanted to win reelection. And in November of twenty twenty five,
(07:24):
we were at three dollars and seventeen cents a gallon
national average, meaning fifty percent. We're paying more than that,
and in many places much more so. Now where are we,
the President United States of America saying, I understand affordability,
and I understand there are many Americans that are concerned
about it. And here's part of what he had to
(07:44):
say at the White House.
Speaker 2 (07:45):
We're now at about two dollars and fifty cents a gallon.
We're going to be I think at two dollars a gallon.
We could even crack that at some point. I'd love
to do it, and we could do it more easily
if we weren't building up the strategic national reserves, which
Biden emptied out before the election so that he could
try and get elected, meaning she he started it, then
(08:06):
he got thrown out of the race. Then she took over,
and she kept it going, and they emptied out these
strategic national resilts, which are really meant for something else.
They're not meant to keep people happy with the gasoline price.
They meant for war. They're meant for problems, big problems.
He emptied it out, and then she continued it during
(08:26):
the process of trying to get elected. Didn't work out
too well for him, and they virtually brought it down
to the lowest level I believe in history. And it
didn't have much of an impact because the prices were
very high. But our price is now for energy put
for gasoline or really low electricities coming down. And when
(08:47):
that comes down, everything comes down.
Speaker 1 (08:50):
When that comes down, everything comes down. Now the president
saying that just a few days ago, and now what
we're seeing is we're winning. The average gas price has
dropped again, now under three dollars a gallon. The average
price for a gallon of unleaded gasoline in the United
States dipped again this week, now standing at under three
dollars a gallon. According to gas Buddy the December eighth update,
(09:15):
gas prices fell five cents over the last week, reaching
two ninety a gallon, and the national average is down
seventeen point six cents from a month ago, seven point
three cents per gallon lower than a year ago, and
the national average price of diesel has also fallen five
point one cents in the last week, standing at three
dollars and sixty seven cents per gallon average. Now this
(09:38):
is also incredible because Americans are now paying less for
a lot of different things. Because of the price of
a gallon of gas going down, you, depending on where
you're listening right now, can look at signs that will
make you not be stressed like they were under the
Biden administration when it was again five dollars a gallon.
(10:00):
Triple a also reflect the reality of an average under
three dollars. According to its data, the national gas price average,
they say, stands at two ninety five, and for greater perspective,
one week ago, the average stood at three oh one.
One month ago, it stood at three oh seven. States
across the south in the Midwest are also seeing prices
even lower. In Oklahoma, for example, the average gas price
(10:24):
rings in at two dollars and thirty six cents a gallon.
Texas is average now sits below two fifty a gallon.
Missouri at two sixty a gallon. In other states including Florida, Alabama, Michigan, Ohio,
South Carolina, North Carolina, Virginia, Montana, and others are seeing
averages now under three dollars a gallon, which they did
(10:45):
not see under the Biden regime. Now some of the
highest prices and this goes back to what was said
earlier by the Energy Secretary, are in leftist states. California,
for instance, is seeing an average of four dollars and
forty six per gallon, That is a dollar fifty seven
a gallon higher than the national average. Others such as
(11:09):
New York, Washington, Hawaii, and Nevada average above three dollars
per gallon as well. Still, this is dramatically lower than
the all time summer high Americans experience in twenty twenty two.
That summer gas price is sword reaching an all time
high of five dollars and sixteen cents average for a
gallon of regular unleaded on June the fourteenth, right in
(11:32):
the middle of summer travel of twenty twenty two. Days later,
and even a more shocking moment, the diesel prices, which
are eighteen wheelers use, reach an average high of five
dollars and eighty one cents a gallon, the White House
putting it out in a tweet this way, In thirty
seven states, the average price for gas is blowed three
(11:54):
dollars a gallon. In twenty two states, it's blowed two
seventy five a gallon, five states it's below two fifty
a gallon, and all states are now trending lower now.
All of this follows an update last week announced that
gas prices had fallen below the three dollar gallon for
the first time in four years. Last month, President Trump
(12:18):
celebrated the strides's administration has made since last year's election,
making living more affordable for the American people, with gas prices, groceries,
and rental prices actually falling. So when you hear the
media and Democrats saying that we have a quote affordability crisis,
I agree, it costs too much for a lot of things.
(12:41):
But are the prices heading in the right direction? The
answer is yes, they are going in the right direction.
They are not going in the wrong direction. They are
headed exactly where Donald Trump said they were going to
be headed. And that is part of why so many
(13:01):
Americans should take a moment pause and look and see
what the President is actually doing to get all this
moving the way it needs to. Quick break Ben Ferguson's show,
it's the economy stupid. That is the line that matters
in every election. If you're not talking about the economy
(13:23):
and the economy is bad, you're gonna have problems. Democrats
believe that the majority of you listening right now are
blaming Donald Trump for what they're describing as a quote
about economy. I'm actually not joking. What is the data saying?
It says the opposite of that. President Donald Trump on
(13:44):
Tuesday credited his tariffs with producing better than expected economic
numbers in the third quarter and added that the quote
Trump economic golden Age is full steam ahead and a
pair of true social posts. Trump said the tariffs are
response toible for the great USA economic numbers and declared
(14:05):
there is quote no inflation in great national security, while
urging support to pray for the US Supreme Court. He
also touted the Commerce Department's reported four point three percent
growth as a ratest proof that good government and all
caps tariffs are powering what he called the Trump economic
(14:26):
golden Age. The government's initial estimates show US growth and
the gross domestic product numbers are big. The broadish measure
of economic output, it rose at four point three percent
annual pace from July through September. That is up, not
down from the three point eight in the second quarter,
(14:47):
as well as the roughly three percent forecast tracked by
fact Set. Now, the report credit stronger consumer spending. In fact,
we had record Black Friday sales and Monday Cyber Monday sales,
highre exports by the way, and increased government outlays for
the jump. Trump sees on those details, arguing that tariffs
(15:08):
are boosting the domestic production and rebalancing trade. In his
second post, Trump claimed that consumer spending is strong and
its way up. Imports and trade deficits are way down,
adding that investment is setting records because of his tax package,
which he labeled the Great, Big, Beautiful Bill, and his
(15:30):
tariff policy, which Democrats said would be a disaster that
is actually not what has happened. What we've seen is
incredible number of dollars that have been collected by our
federal government, which will then help with our out of
control government spending, our deficits. Now, consumer spending and this
is important, grew it at a three point five percent
(15:51):
annual rate in the third quarter that is up an
entire percentage point from the two point five in the
prior period. Sports also surged and government spending also increased.
Baron similarly noted that expert exports excuse me, jumped sharply
and that business investment improved compared with the prior quarter,
(16:14):
even as an analyst warned trade flows can be temporarily
distorted by shifting tariff expectations. That's how they described it. Now,
here's what really matters. Inflation. Inflation remains a key political
and economic pressure point. The federal reserves preferred inflation gauge,
(16:34):
all right, what they prefer, the personal consumption expenditures know
his PCEE. The price Index rose at a two point
eight percent annual pace last quarter, with core PCE at
two point nine, both above the Fed's two percent target,
but down from where they were with Biden. That dynamic
(16:55):
could complicate the Central Bank's next steps on interest rates
is what some economists are warning now. The GDP report
was also released later than originally scheduled because of a
recent government shutdown, which created a backlog of federal economic data.
The shutdowns expected to weigh on the fourth quarter activity,
with estimate suggested it could shave one to two percentage
(17:16):
points off growth in the current quarter that we're in
right now because the government was shut down. We know
that is temporary and obviously will come back now. Donald
Trump and many of his advocates his allies argued the
headline growth number validates an America first approach, the US
(17:36):
using these tariffs to pressure adversaries, protect US industry, and
drive investment back home. So all of this is way
better than what we were quote expecting. Fox Business Channel
describing it this way on what we've just witnessed.
Speaker 7 (17:52):
First story today is, of course, the economic growth story,
which even a lot of supply siders really didn't see coming.
We worked expecting a third quarter to come in at
a strong three point three percent. Instead, it came in
a full percentage point higher, a super strong four point
three percent, And with recent inflation numbers coming in generally
(18:14):
lower than expected, it looks like President Trump's economic policies
are turning Biden's stagflation on its head.
Speaker 1 (18:22):
For turning Biden's stagflation on its head, we're experiencing a
third quarter that came in very strong. That is what
the numbers show. What's also interesting about this is a
few moments later, you had the White House send out
Kevin Hassett to talk about these numbers. Listen to what
(18:45):
he said again on Fox Business.
Speaker 7 (18:48):
For more details. Let's bring in NEC director Kevin Hassett.
A good day in the White House. I imagine, Kevin, you
got strong growth, lower inflation. Looks like a perfect scenario.
Speaker 9 (19:01):
Yeah.
Speaker 10 (19:01):
And one of the things that I would like to
add is the Larry Kudlow and I on the show.
For the last two months, I've been telling you you're
going to get a four percent number. You did it,
and and so it's really interesting to see the headlines
from the fake news everywhere you look. It's like, oh,
it's a completely surprising north of four percent number. But
(19:23):
the point is that President Trump's policies are working, and
they're very visibly working now because we've seen we've seen
the data. And you know, President Trump, when we were
talking about the numbers, he said something like, well, why
don't we get twenty percent?
Speaker 1 (19:37):
Did you see that? He truth to that today. I did.
Speaker 7 (19:39):
That's that's a little little ambitious.
Speaker 10 (19:41):
I don't know about twenty percent. But the point, the
point is that we're in the very unprecedented time that
the macro thing is that. It's just like when we
invented the computer and then or was it Al Gore
that did that?
Speaker 1 (19:52):
Oh he was the Internet, and.
Speaker 10 (19:54):
Then all of a sudden in the nineties we had
incredible growth year after year after here with no inflation.
And so I think you by that way, I think
we could do it.
Speaker 7 (20:01):
I think we have those numbers. Do you have the numbers?
Speaker 1 (20:04):
Producers? Can you put that up?
Speaker 7 (20:05):
Because the tax that Reagan tax cuts for a lot
of reasons, mostly political, didn't kick in until January one,
nineteen eighty three. The next six years you were growing.
The first year you grew at about four and a
half percent, The second year, the United States grew at
over seven percent, and I think the average after of
six years was about four and a half percent. Do
(20:27):
you think that's going going to be that case for
the rest of the Trump administration?
Speaker 8 (20:32):
There?
Speaker 10 (20:33):
Right, Yeah, that's right. So what happened with the Reagan
numbers is an example. But there was a second example.
So Reagan did it with tax policy, and then it
happened in the late nineties. Really because computers made everybody
more productive. The thing about what President Trump in Tuwitz,
which is true, is that we've got both of those.
So we've got artificial intelligence increasing productivity, and we've got
(20:56):
amazing tax policy as well, and so there's a chance
that we get to numbers north of even what you've
seen without inflation. And that's the other thing that the
President mentioned in is Truth Today, which I really want
to reemphasize because he understands this is that if you
see growth because the government is setting checks to everybody
and the FED is printing money, then that's going to
(21:18):
cause inflation.
Speaker 1 (21:19):
The Fed's going to have to raise race.
Speaker 10 (21:20):
But if you feel growth because of supply side effects,
then you can get the growth without the inflation. And
that's something that.
Speaker 1 (21:27):
We're seeing right now.
Speaker 9 (21:27):
As you know.
Speaker 10 (21:28):
CPI came in with a core of one point six
percent just last week. As so we're getting growth without inflation,
which is really proving both Reagan and Trump correct.
Speaker 1 (21:38):
So you listen to Kevin and I play that for you,
because not only is this what the White House said
was going to happen, but it's even better than what
they were expecting. Why, because they're empowering Americans to succeed
without government subsidies. You saw inflation got of control under
(21:58):
the Biden regime because they were constantly wanting to send
you money, so you'd be totally dependent on them, and
it's buying votes, right, And then we saw inflation it
out of control because if you're printing money and you're
giving out money and it's not actually being earned, and
it's not actually the economy that's doing it, then it's artificial.
It's not real, right, It's like completely artificial. That is
(22:22):
a big problem. So you look at this now, and
I will say it again because I think it's so
important that people understand this. What the president has stopped,
and then what the president is doing right now is amazing.
(22:43):
He has stopped Biden inflation that got out of control
and is now turning around in eleven months. We should
all be celebrating this. This is the best case scenario.
And when the media is like, oh, it's going to
be a disaster, Oh it's going to be bad, Oh
it's going to be terrible, and the economy is everything,
(23:04):
I agree. The economy is everything. I couldn't agree with
you more. The economy is everything. And what the president's
doing is doing exactly that the economy is fighting because
of the policies that this president is put forward that's
empowering Americans to make more of their own money, keep
more of their own money, and allowing small businesses to grow.
(23:25):
How could we not love that, on top of the tariffs,
on top of bringing jobs and investment back to the
United States of America on the world stage. This is
why things right now are moving the right direction, even
while everyone in the media is trying to convince you
that things are bad. The numbers don't lie. New economic
numbers are out and it shows that Donald Trump's plan
(23:47):
is absolutely working. That is driving the left totally insane.
President Trump's tariffs are responsible for what he describes as
the strong at economic numbers. Kevin Hassett saying President Trump's
pro growth policies are working, and they're visibly working now
(24:07):
because we've seen the data now. This also is moving
forward with what's about to come down the pipe in
twenty twenty six, which is no tax on tips, no
tax on overtime, will both become reality. They've been passed,
but they are enacted in twenty twenty six, and no
tax for the majority on Social Security that is massive.
(24:30):
You put that together, and I got to tell you
this is what you I would refer to as supercharging
the economy, especially compared to where we were. A lot
of people don't get credit for implementing their policies when
they do it. And if you look at the difference
(24:50):
between where we are now and where we were when
Joe Biden was in office, it is amazing. Where we're headed, though,
is going to be even more than that. It's going
to be more important than that. You know, you look
at what Democrats are fighting over right now, and in
Minnesota fraud scandal is a great example of that. You've
(25:14):
got a group of fraudsters in the Smiley community that
the Democrats won't hold accountable. It is truly remarkable that
Tim Waltz is even thinking about running for reelection, knowing
just how bad the fraud was. Tim Waltz is out
there trying to divide the country and certainly in his
state even more by screaming racism on everything. He's now
(25:35):
instead of answering the fraud questions of our tax dollars
just being used to go to terrorist organizations. Not a
joke by the millions. What is he out there doing? Oh,
he's like all right, well, I'll figure out a way
to distract from this. He's now railing against ice raids in
Minnesota by accusing the Trump administration of now what he
(25:55):
describes as quote, white supremacy. Did you hear me white supremacy,
Tim Waltz in his own words, So.
Speaker 9 (26:05):
This is what happens when your own federal government wages
war against you. This is what happens when they target
communities for their own benefit. This is what happens when
they scapegoat. And this is what say happens when they
no longer hide the idea of white supremacy. When you
hear the Vice President of the United States talk about
now white people won't have to apologize for being white.
That's never happened once in my whole damn life. And
(26:27):
I think everybody in this room knows what they're doing.
So we're here today to say enough of this. We're
here today to stand that Minnesota will protect their neighbors
white supremacy.
Speaker 1 (26:37):
This is what happens when they no longer hide the
idea of white supremacy. So finding illegal immigrants who are
committing crimes, holding people accountable for de friden the government.
He now is describing it as white supremacy. One eight
seven seven three eight to one thirty eight eleven one
(26:57):
eight seven seven three eight one thirty eight to eleven.
We'll get your phone calls in here, your reaction to this.
I do believe the midterms are gonna be about the economy.
I also believe that the midterms are going to be
about do you trust the president of the United States
of America and to do exactly what he's doing. And look,
there is massive corruption and our government spending is a
(27:20):
real problem. I'll give you a great example of that.
You may not realize that we borrow over two hundred
and seventy two million every hour. Did you know that?
I'm gonna say that again. We as a nation borrow
over two hundred and seventy two million every hour. We
borrow four point five to four million every minute, and
we borrow over seventy five thousand dollars every second. That
(27:42):
is insane. Senator Ram Paul came out with his Festivust report,
pointed to trillions in government spending, including millions for COVID
vaccine promotion and federally funded animal experiments. He flagged one
point six trillion in ways from COVID influencer campaigns to
(28:03):
bizarre animal drug experiments in the new report, and people
should be angry about this. You should be mad that
we borrow two hundred and seventy two million every hour,
four point five to four million every minute, and we
borrow over seventy five thousand dollars every second. That should
make you live it, don't forget. Share this podcast with
(28:27):
your family and friends, share it on social media, please,
and I'll see you back here tomorrow
I've got one big, great piece of news for you,
and that is gas prices are coming down fast. Donald Trump,
talking about gas prices a few days ago, had this
to say.
Speaker 2 (00:14):
We're now at about two dollars and fifty cents a gallon.
We're going to be I think at two dollars a gallon.
We could even crack that at some point. I'd love
to do it, and we could do it more easily
if we weren't building up the strategic national reserves, which
Biden emptied out before the election so that he could
try and get elected, Meaning he started it, then he
(00:35):
got thrown out of the race. Then she took over
and she kept it going, and they emptied out these
strategic national reserves, which are really meant for something else.
They're not meant to keep people happy with against Liviace.
They meant for war. They're meant for problems, big problems.
He emptied it out and then she continued it during
(00:55):
the process of trying to get elected. Didn't work out
too well for him, and they virtually brought it down
to the lowest level I believe in history, and it
didn't have much of an impact because the prices were
very high. But our price is now for energy put
for gasoline are really low. Electricity is coming down, and
(01:16):
when that comes down, everything comes down.
Speaker 1 (01:20):
When that goes down, everything comes down. He's right. There
are people that are saying the president isn't doing enough.
What is wrong with you? State by state? Right now,
I'll give you Alabama for example, what are they saying
about the holiday week gas prices? What are you're paying?
Here's an Alabamas.
Speaker 3 (01:38):
Well canws if you're getting ready for a long drive
during this holiday week, triple A saying you're paying two
dollars fifty six cents on average for a gallon of
regular right now. That's below the national average, which is
two dollars and eighty five cents this week. This time
last year, the average price of gas here in the
state was two seventy four. Gas Buddy says Christmas Day
gas prices will fall to the lowest level since twenty
(02:01):
twenty West.
Speaker 1 (02:03):
The lowest level since twenty twenty, and they want you
to believe that the economy is not going in the
right direction. It's not just Alabama. Check in Ohio local
WTL channel eleven there for hitting.
Speaker 4 (02:16):
The roadways because Toledo area gas prices continuing to trend downward,
which is great news there. A gas Buddy analyst shows
that average gas prices are falling and actually felt nearly
forty cents in the last week gallon of gas on average.
I'm going to talk to you about two forty eight,
which is almost forty one cents lower than a month
(02:37):
ago and more than sixty one cents lower than a
year ago.
Speaker 1 (02:43):
Sixty cents a gallon lower than a year ago. That's real.
But pere, I go, oh no, he's not doing enough.
Really okay, really, we're not like, we're not all right.
So let's just go to another city where they're talking
about this Phoenix, Arizona's not sustainable.
Speaker 5 (02:57):
Where your wallet will find some holiday cheer is that
the gas station. More than one hundred and nine million
Americans are expected to drive to their year end destination,
according to Triple A, up two percent from last year.
Low gas prices are a big reason why. As of Monday,
the national average for a gallon of regular two dollars
eighty five cents, down nineteen cents from last year. If
(03:19):
you're looking for last minute gifts and last minute.
Speaker 6 (03:22):
Savings, consider sporting goods, dish, sets and smartphones, all items that, generally,
according to government inflation data, costs less than they did
last year in Washington.
Speaker 1 (03:33):
Well, did you hear that smartphones are less? Tablets are less? Way,
that can't be right, That can't be happening. No, I
thought everything was bad. I mean, isn't that what they
said to us? They told us that everything's bad? How
can there be this much good news? Because they said
(03:55):
it was terrible news. They said that everything was going
in the wrong direction. Trump was a disaster. I don't
Somebody's got to explain this to me. Insert sarcasm. There,
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(05:03):
receive a one time auto dialed text message from my Heartmedia.
Affordability it is going to be the issue of the
midterm elections if there was an election today. It's the
issue that Democrats are saying they believe they have the
best footing on to go after Donald Trump, saying that
it's all his fault that affordability is not where you
(05:25):
want it. But then you will get prices. And there
are massive successes that have happened that are the complete
opposite of what Joe Biden and Kamala Harris were doing.
Energy Secretary Chris Wright, for example, pointing to now what
is historic gas prices compared to Biden and the Secretary
of Energy Chris Wright saying this about where the gas
(05:47):
prices are today.
Speaker 7 (05:49):
And you know, I don't think there was there definitely
wasn't a time during the Biden administration when when the
gas went below the price, they came in. Of course,
they came in during the pandemic when prices were very
low because people weren't traveling as much. But they basically
you look at a chart and it's pretty amazing the
way it just stayed up there. It did come down
(06:11):
for the high point of five bucks a gallon, but
it never really came down significantly enough for American car users.
Speaker 8 (06:20):
Imagine if Harris had won the election, where would gasoline
prices be today? How would American consumers feel? I guess
you could visit California and get a preview of that,
where gasoline prices are over fifty percent higher than the
national average. Those are political choices. They're not unfortunate facts.
They're political choices to make energy expensive.
Speaker 1 (06:42):
Now, political choices deliberately to make gas prices expensive. You
also go back to the chart that he was referring to,
and that chart is one that truly is incredible. When
Joe Biden became president November of twenty twenty, gas prices
were about two dollars and twenty cents a gallon. By
(07:03):
June of that of twenty twenty two, the Biden administration
had gotten gas prices up to five dollars and three
cents a gallon average. They then tried to artificially deflate
that price by even releasing all reserves. Why because they
wanted to win reelection. And in November of twenty twenty five,
(07:24):
we were at three dollars and seventeen cents a gallon
national average, meaning fifty percent. We're paying more than that,
and in many places much more so. Now where are we,
the President United States of America saying, I understand affordability,
and I understand there are many Americans that are concerned
about it. And here's part of what he had to
(07:44):
say at the White House.
Speaker 2 (07:45):
We're now at about two dollars and fifty cents a gallon.
We're going to be I think at two dollars a gallon.
We could even crack that at some point. I'd love
to do it, and we could do it more easily
if we weren't building up the strategic national reserves, which
Biden emptied out before the election so that he could
try and get elected, meaning she he started it, then
(08:06):
he got thrown out of the race. Then she took over,
and she kept it going, and they emptied out these
strategic national resilts, which are really meant for something else.
They're not meant to keep people happy with the gasoline price.
They meant for war. They're meant for problems, big problems.
He emptied it out, and then she continued it during
(08:26):
the process of trying to get elected. Didn't work out
too well for him, and they virtually brought it down
to the lowest level I believe in history. And it
didn't have much of an impact because the prices were
very high. But our price is now for energy put
for gasoline or really low electricities coming down. And when
(08:47):
that comes down, everything comes down.
Speaker 1 (08:50):
When that comes down, everything comes down. Now the president
saying that just a few days ago, and now what
we're seeing is we're winning. The average gas price has
dropped again, now under three dollars a gallon. The average
price for a gallon of unleaded gasoline in the United
States dipped again this week, now standing at under three
dollars a gallon. According to gas Buddy the December eighth update,
(09:15):
gas prices fell five cents over the last week, reaching
two ninety a gallon, and the national average is down
seventeen point six cents from a month ago, seven point
three cents per gallon lower than a year ago, and
the national average price of diesel has also fallen five
point one cents in the last week, standing at three
dollars and sixty seven cents per gallon average. Now this
(09:38):
is also incredible because Americans are now paying less for
a lot of different things. Because of the price of
a gallon of gas going down, you, depending on where
you're listening right now, can look at signs that will
make you not be stressed like they were under the
Biden administration when it was again five dollars a gallon.
(10:00):
Triple a also reflect the reality of an average under
three dollars. According to its data, the national gas price average,
they say, stands at two ninety five, and for greater perspective,
one week ago, the average stood at three oh one.
One month ago, it stood at three oh seven. States
across the south in the Midwest are also seeing prices
even lower. In Oklahoma, for example, the average gas price
(10:24):
rings in at two dollars and thirty six cents a gallon.
Texas is average now sits below two fifty a gallon.
Missouri at two sixty a gallon. In other states including Florida, Alabama, Michigan, Ohio,
South Carolina, North Carolina, Virginia, Montana, and others are seeing
averages now under three dollars a gallon, which they did
(10:45):
not see under the Biden regime. Now some of the
highest prices and this goes back to what was said
earlier by the Energy Secretary, are in leftist states. California,
for instance, is seeing an average of four dollars and
forty six per gallon, That is a dollar fifty seven
a gallon higher than the national average. Others such as
(11:09):
New York, Washington, Hawaii, and Nevada average above three dollars
per gallon as well. Still, this is dramatically lower than
the all time summer high Americans experience in twenty twenty two.
That summer gas price is sword reaching an all time
high of five dollars and sixteen cents average for a
gallon of regular unleaded on June the fourteenth, right in
(11:32):
the middle of summer travel of twenty twenty two. Days later,
and even a more shocking moment, the diesel prices, which
are eighteen wheelers use, reach an average high of five
dollars and eighty one cents a gallon, the White House
putting it out in a tweet this way, In thirty
seven states, the average price for gas is blowed three
(11:54):
dollars a gallon. In twenty two states, it's blowed two
seventy five a gallon, five states it's below two fifty
a gallon, and all states are now trending lower now.
All of this follows an update last week announced that
gas prices had fallen below the three dollar gallon for
the first time in four years. Last month, President Trump
(12:18):
celebrated the strides's administration has made since last year's election,
making living more affordable for the American people, with gas prices, groceries,
and rental prices actually falling. So when you hear the
media and Democrats saying that we have a quote affordability crisis,
I agree, it costs too much for a lot of things.
(12:41):
But are the prices heading in the right direction? The
answer is yes, they are going in the right direction.
They are not going in the wrong direction. They are
headed exactly where Donald Trump said they were going to
be headed. And that is part of why so many
(13:01):
Americans should take a moment pause and look and see
what the President is actually doing to get all this
moving the way it needs to. Quick break Ben Ferguson's show,
it's the economy stupid. That is the line that matters
in every election. If you're not talking about the economy
(13:23):
and the economy is bad, you're gonna have problems. Democrats
believe that the majority of you listening right now are
blaming Donald Trump for what they're describing as a quote
about economy. I'm actually not joking. What is the data saying?
It says the opposite of that. President Donald Trump on
(13:44):
Tuesday credited his tariffs with producing better than expected economic
numbers in the third quarter and added that the quote
Trump economic golden Age is full steam ahead and a
pair of true social posts. Trump said the tariffs are
response toible for the great USA economic numbers and declared
(14:05):
there is quote no inflation in great national security, while
urging support to pray for the US Supreme Court. He
also touted the Commerce Department's reported four point three percent
growth as a ratest proof that good government and all
caps tariffs are powering what he called the Trump economic
(14:26):
golden Age. The government's initial estimates show US growth and
the gross domestic product numbers are big. The broadish measure
of economic output, it rose at four point three percent
annual pace from July through September. That is up, not
down from the three point eight in the second quarter,
(14:47):
as well as the roughly three percent forecast tracked by
fact Set. Now, the report credit stronger consumer spending. In fact,
we had record Black Friday sales and Monday Cyber Monday sales,
highre exports by the way, and increased government outlays for
the jump. Trump sees on those details, arguing that tariffs
(15:08):
are boosting the domestic production and rebalancing trade. In his
second post, Trump claimed that consumer spending is strong and
its way up. Imports and trade deficits are way down,
adding that investment is setting records because of his tax package,
which he labeled the Great, Big, Beautiful Bill, and his
(15:30):
tariff policy, which Democrats said would be a disaster that
is actually not what has happened. What we've seen is
incredible number of dollars that have been collected by our
federal government, which will then help with our out of
control government spending, our deficits. Now, consumer spending and this
is important, grew it at a three point five percent
(15:51):
annual rate in the third quarter that is up an
entire percentage point from the two point five in the
prior period. Sports also surged and government spending also increased.
Baron similarly noted that expert exports excuse me, jumped sharply
and that business investment improved compared with the prior quarter,
(16:14):
even as an analyst warned trade flows can be temporarily
distorted by shifting tariff expectations. That's how they described it. Now,
here's what really matters. Inflation. Inflation remains a key political
and economic pressure point. The federal reserves preferred inflation gauge,
(16:34):
all right, what they prefer, the personal consumption expenditures know
his PCEE. The price Index rose at a two point
eight percent annual pace last quarter, with core PCE at
two point nine, both above the Fed's two percent target,
but down from where they were with Biden. That dynamic
(16:55):
could complicate the Central Bank's next steps on interest rates
is what some economists are warning now. The GDP report
was also released later than originally scheduled because of a
recent government shutdown, which created a backlog of federal economic data.
The shutdowns expected to weigh on the fourth quarter activity,
with estimate suggested it could shave one to two percentage
(17:16):
points off growth in the current quarter that we're in
right now because the government was shut down. We know
that is temporary and obviously will come back now. Donald
Trump and many of his advocates his allies argued the
headline growth number validates an America first approach, the US
(17:36):
using these tariffs to pressure adversaries, protect US industry, and
drive investment back home. So all of this is way
better than what we were quote expecting. Fox Business Channel
describing it this way on what we've just witnessed.
Speaker 7 (17:52):
First story today is, of course, the economic growth story,
which even a lot of supply siders really didn't see coming.
We worked expecting a third quarter to come in at
a strong three point three percent. Instead, it came in
a full percentage point higher, a super strong four point
three percent, And with recent inflation numbers coming in generally
(18:14):
lower than expected, it looks like President Trump's economic policies
are turning Biden's stagflation on its head.
Speaker 1 (18:22):
For turning Biden's stagflation on its head, we're experiencing a
third quarter that came in very strong. That is what
the numbers show. What's also interesting about this is a
few moments later, you had the White House send out
Kevin Hassett to talk about these numbers. Listen to what
(18:45):
he said again on Fox Business.
Speaker 7 (18:48):
For more details. Let's bring in NEC director Kevin Hassett.
A good day in the White House. I imagine, Kevin, you
got strong growth, lower inflation. Looks like a perfect scenario.
Speaker 9 (19:01):
Yeah.
Speaker 10 (19:01):
And one of the things that I would like to
add is the Larry Kudlow and I on the show.
For the last two months, I've been telling you you're
going to get a four percent number. You did it,
and and so it's really interesting to see the headlines
from the fake news everywhere you look. It's like, oh,
it's a completely surprising north of four percent number. But
(19:23):
the point is that President Trump's policies are working, and
they're very visibly working now because we've seen we've seen
the data. And you know, President Trump, when we were
talking about the numbers, he said something like, well, why
don't we get twenty percent?
Speaker 1 (19:37):
Did you see that? He truth to that today. I did.
Speaker 7 (19:39):
That's that's a little little ambitious.
Speaker 10 (19:41):
I don't know about twenty percent. But the point, the
point is that we're in the very unprecedented time that
the macro thing is that. It's just like when we
invented the computer and then or was it Al Gore
that did that?
Speaker 1 (19:52):
Oh he was the Internet, and.
Speaker 10 (19:54):
Then all of a sudden in the nineties we had
incredible growth year after year after here with no inflation.
And so I think you by that way, I think
we could do it.
Speaker 7 (20:01):
I think we have those numbers. Do you have the numbers?
Speaker 1 (20:04):
Producers? Can you put that up?
Speaker 7 (20:05):
Because the tax that Reagan tax cuts for a lot
of reasons, mostly political, didn't kick in until January one,
nineteen eighty three. The next six years you were growing.
The first year you grew at about four and a
half percent, The second year, the United States grew at
over seven percent, and I think the average after of
six years was about four and a half percent. Do
(20:27):
you think that's going going to be that case for
the rest of the Trump administration?
Speaker 8 (20:32):
There?
Speaker 10 (20:33):
Right, Yeah, that's right. So what happened with the Reagan
numbers is an example. But there was a second example.
So Reagan did it with tax policy, and then it
happened in the late nineties. Really because computers made everybody
more productive. The thing about what President Trump in Tuwitz,
which is true, is that we've got both of those.
So we've got artificial intelligence increasing productivity, and we've got
(20:56):
amazing tax policy as well, and so there's a chance
that we get to numbers north of even what you've
seen without inflation. And that's the other thing that the
President mentioned in is Truth Today, which I really want
to reemphasize because he understands this is that if you
see growth because the government is setting checks to everybody
and the FED is printing money, then that's going to
(21:18):
cause inflation.
Speaker 1 (21:19):
The Fed's going to have to raise race.
Speaker 10 (21:20):
But if you feel growth because of supply side effects,
then you can get the growth without the inflation. And
that's something that.
Speaker 1 (21:27):
We're seeing right now.
Speaker 9 (21:27):
As you know.
Speaker 10 (21:28):
CPI came in with a core of one point six
percent just last week. As so we're getting growth without inflation,
which is really proving both Reagan and Trump correct.
Speaker 1 (21:38):
So you listen to Kevin and I play that for you,
because not only is this what the White House said
was going to happen, but it's even better than what
they were expecting. Why, because they're empowering Americans to succeed
without government subsidies. You saw inflation got of control under
(21:58):
the Biden regime because they were constantly wanting to send
you money, so you'd be totally dependent on them, and
it's buying votes, right, And then we saw inflation it
out of control because if you're printing money and you're
giving out money and it's not actually being earned, and
it's not actually the economy that's doing it, then it's artificial.
It's not real, right, It's like completely artificial. That is
(22:22):
a big problem. So you look at this now, and
I will say it again because I think it's so
important that people understand this. What the president has stopped,
and then what the president is doing right now is amazing.
(22:43):
He has stopped Biden inflation that got out of control
and is now turning around in eleven months. We should
all be celebrating this. This is the best case scenario.
And when the media is like, oh, it's going to
be a disaster, Oh it's going to be bad, Oh
it's going to be terrible, and the economy is everything,
(23:04):
I agree. The economy is everything. I couldn't agree with
you more. The economy is everything. And what the president's
doing is doing exactly that the economy is fighting because
of the policies that this president is put forward that's
empowering Americans to make more of their own money, keep
more of their own money, and allowing small businesses to grow.
(23:25):
How could we not love that, on top of the tariffs,
on top of bringing jobs and investment back to the
United States of America on the world stage. This is
why things right now are moving the right direction, even
while everyone in the media is trying to convince you
that things are bad. The numbers don't lie. New economic
numbers are out and it shows that Donald Trump's plan
(23:47):
is absolutely working. That is driving the left totally insane.
President Trump's tariffs are responsible for what he describes as
the strong at economic numbers. Kevin Hassett saying President Trump's
pro growth policies are working, and they're visibly working now
(24:07):
because we've seen the data now. This also is moving
forward with what's about to come down the pipe in
twenty twenty six, which is no tax on tips, no
tax on overtime, will both become reality. They've been passed,
but they are enacted in twenty twenty six, and no
tax for the majority on Social Security that is massive.
(24:30):
You put that together, and I got to tell you
this is what you I would refer to as supercharging
the economy, especially compared to where we were. A lot
of people don't get credit for implementing their policies when
they do it. And if you look at the difference
(24:50):
between where we are now and where we were when
Joe Biden was in office, it is amazing. Where we're headed, though,
is going to be even more than that. It's going
to be more important than that. You know, you look
at what Democrats are fighting over right now, and in
Minnesota fraud scandal is a great example of that. You've
(25:14):
got a group of fraudsters in the Smiley community that
the Democrats won't hold accountable. It is truly remarkable that
Tim Waltz is even thinking about running for reelection, knowing
just how bad the fraud was. Tim Waltz is out
there trying to divide the country and certainly in his
state even more by screaming racism on everything. He's now
(25:35):
instead of answering the fraud questions of our tax dollars
just being used to go to terrorist organizations. Not a
joke by the millions. What is he out there doing? Oh,
he's like all right, well, I'll figure out a way
to distract from this. He's now railing against ice raids in
Minnesota by accusing the Trump administration of now what he
(25:55):
describes as quote, white supremacy. Did you hear me white supremacy,
Tim Waltz in his own words, So.
Speaker 9 (26:05):
This is what happens when your own federal government wages
war against you. This is what happens when they target
communities for their own benefit. This is what happens when
they scapegoat. And this is what say happens when they
no longer hide the idea of white supremacy. When you
hear the Vice President of the United States talk about
now white people won't have to apologize for being white.
That's never happened once in my whole damn life. And
(26:27):
I think everybody in this room knows what they're doing.
So we're here today to say enough of this. We're
here today to stand that Minnesota will protect their neighbors
white supremacy.
Speaker 1 (26:37):
This is what happens when they no longer hide the
idea of white supremacy. So finding illegal immigrants who are
committing crimes, holding people accountable for de friden the government.
He now is describing it as white supremacy. One eight
seven seven three eight to one thirty eight eleven one
(26:57):
eight seven seven three eight one thirty eight to eleven.
We'll get your phone calls in here, your reaction to this.
I do believe the midterms are gonna be about the economy.
I also believe that the midterms are going to be
about do you trust the president of the United States
of America and to do exactly what he's doing. And look,
there is massive corruption and our government spending is a
(27:20):
real problem. I'll give you a great example of that.
You may not realize that we borrow over two hundred
and seventy two million every hour. Did you know that?
I'm gonna say that again. We as a nation borrow
over two hundred and seventy two million every hour. We
borrow four point five to four million every minute, and
we borrow over seventy five thousand dollars every second. That
(27:42):
is insane. Senator Ram Paul came out with his Festivust report,
pointed to trillions in government spending, including millions for COVID
vaccine promotion and federally funded animal experiments. He flagged one
point six trillion in ways from COVID influencer campaigns to
(28:03):
bizarre animal drug experiments in the new report, and people
should be angry about this. You should be mad that
we borrow two hundred and seventy two million every hour,
four point five to four million every minute, and we
borrow over seventy five thousand dollars every second. That should
make you live it, don't forget. Share this podcast with
(28:27):
your family and friends, share it on social media, please,
and I'll see you back here tomorrow
Host
Ben Ferguson
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