October 2, 2025 • 9 mins
Steve breaks down how the government shutdown is affecting the economy. GDP growth over the last few quarters has increased in the USA.
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Episode Transcript
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Speaker 1 (00:01):
Mark Simon, we're looking for Steve Moore. What a shot? Huh,
Now he'll turn up. I'll bet you we find him then.
I don't want to predict, but I bet you we'll
find him. So hey, if you want a luxury home,
(00:22):
how much you have to spend a luxury home? What's
considered a luxury home? How much? A million dollars? No,
that won't do it anymore. It used to, but according
to realtor dot com, a million dollars will no longer
buy a luxury home in America anymore. A new analysis
shows one point three million, at least one point three
(00:46):
million starting point for a luxury home, and that they
could what they call luxury home is if it's in
the top ten percent of the home listings. But to
get in the top ten percent, you now need to
spend one point three million. Just ten years ago, it
was eight hundred thousand. Now if you want to get
in the top one percent, got to be five and
(01:09):
a half million. And obviously geography is a factor. It's
different in different areas, so prices and you know, prices
keep going up here in New York. I know the Brithings, Well,
everybody's gonna flee if Mom Donnie comes in and it's
going to cause a real estate crash. Prices are going
up every day for rentals, for sales everywhere. Well, we
(01:30):
got Steve Moore, the great economist. Get his book, The
Trump Economic Miracle. Check out. He runs the Committee to
Unleashed Prosperity. Go to the website. Sign up for the
daily briefing, best news and analysis. Just go to Unleash
Prosperity dot com. Steve Moore, how you doing well?
Speaker 2 (01:48):
Hey, Mark, Good to be with you. And a terrible
because you know the I just can't sleep at night
because the Labor Department and the Education Department are closed down.
I mean, how am I going to go forward?
Speaker 1 (01:58):
Yeah? Hey, don't you know.
Speaker 2 (01:59):
We's got dollars hundreds and hundreds and hundreds of thousands
of these quote non essential you know, that's their term,
non essential government employees. And we've got we've got an
enterprise here that's losing two trillion dollars a year. Hmm.
Maybe Russell bow is right, Maybe we just do away
with all these non essential people and we can move
to a balanced budget.
Speaker 1 (02:18):
Yeah, you know, people forget we have a government shutdown
every week five o'clock Friday night. They shut down for.
Speaker 2 (02:23):
Two days exactly. Well, you know the funny thing is,
I guess it's funny, but you know, every I think,
as you know, Mark, every Friday morning, the first Friday
of every month, at eight three in the morning, I'm
with Maria about Aroma. Who does the jobs report? You
know when the big jobs number comes out. They're not
going to do it tomorrow.
Speaker 1 (02:43):
Did you know that?
Speaker 2 (02:44):
It's I've been told that there will not be a
jobs report because they can't I guess count when the
government to shut down. So we'll we will see about that.
But look, this is this is the Schumer shutdown. You're
there in New York, so you've got a lot of
New York voters there. Schumer wanted the shutdown. I said
this a couple of weeks ago, that Schumer was going
(03:04):
to shut the government down. That's exactly what he has done.
But it's not working for the Democrats. I don't think Mark.
I mean, I'm talking to his normal people all the time.
They're like, why are the Democrats doing this? Is it
really because they just want to provide free healthcare the
legal immigrants.
Speaker 1 (03:17):
Now they'll say that's a lie. It's a Republican lie,
but tell us the truth. It does.
Speaker 2 (03:22):
But it's not a lie. I mean is I read
the text of their version and it repeals the provision
in the Republican budget that says you are not permitted
that Medicaid dollars can only go to people who are
either legal citizens or legal immigrants in the country. So
that pretty much leaves illegal immigrants out.
Speaker 1 (03:45):
But I was watching Morning Joe, and according to him,
you guys, you're just all to give money to billionaires.
That's all the care, right.
Speaker 2 (03:55):
Though he doesn't say the billionaires are playing more of
the taxes than ever before in American history. Top one
percent pay a larger share of the tax of income
tax them anytime ever since we invented the income tax
and back in nineteen thirteen. So those are just those
are just talking points from the Democrats. But I just
don't get it. I mean, I think Schumer's kind of
(04:16):
thing is is back learned. He lost, as you know,
he lost three Democratic senators in the vote that happened
before that, and I think if you had another vote,
he'd probably lose another three or four. And again, I
want to make sure people understand this Mark because you know,
we have byzantine rules in Washington. So people say, well, look,
the Republicans don't call the House the Senate and the
White House. Why is the government shut down? It's because
(04:38):
it takes sixty votes in the Senate, sixty out of
one hundred to pass the budget. And all the Republicans
and three Democrats voted for that. But that only brought
us to what fifty five or fifty six, So that's
why there's still five votes are short. But I bet
if they had a vote tomorrow, I think you'd be
getting close to sixty. Because the Democrats are getting hammered
on this. Nobody understands what it is that they're after here.
(05:01):
It's just show voting and trying to embarrass Trump and
trying to get more money. And by the way, I'm
very pro immigration. I think immigrants are great, but.
Speaker 1 (05:08):
No, not.
Speaker 2 (05:09):
You can't let all these people come into the country
and then go to the go and use our healthcare
services and you and I pay for it. Yeah.
Speaker 1 (05:17):
No, we love immigration. We just don't like illegals. I mean,
I love, exactly love I love pharmacists, but I don't
like you illegal drug dealers.
Speaker 2 (05:23):
I mean.
Speaker 1 (05:25):
Exactly apparently there is a vote tomorrow eleven am. That's
when they may vote again tomorrow.
Speaker 2 (05:33):
Okay, and I'll bet you I don't know if they'll
get to sixty, but they're going to get close because
the Democrats are feeling the anger of the American people.
And by the way, this does cost money. That's the
other thing that rush Bott is saying is like, well,
you know, when we have these non essential people not
go to the office, did you know.
Speaker 1 (05:51):
They get paid? Yeah, everybody, they.
Speaker 2 (05:53):
Still get paid. Showing off for not having to work costs.
I wish my bosses said that you cannot show up
with us tomorrow, but I'm still gonna pay you. Yeah.
Speaker 1 (06:02):
Hey, Steve Moore, let me ask you something. You're a
brilliant economist. We've got great economists, you, Art Laugher, Larry Cudlow,
Steve Forbes. Then you got forty thousand other economists. They
never know what the hell they're talking about, and they're
always wrong. Why is that?
Speaker 2 (06:17):
Yeah, well, we had something in our hotline this morning
about that, and if you want to get that for free,
focus go down leash past thirty dot com and sign.
Speaker 1 (06:24):
Up for free.
Speaker 2 (06:25):
But we looked at the the forecast of all the
blue chip economists, all the smartest economsts at all the
big you know, banks and investment firms and so on,
the ones that are paid a million dollars a year
to come up with these forecasts, and they are the
blue chip. All the blue chip forecasts. There was almost
no exceptions. They all basically, Oh, we're gonna have one
and a half percent economic growth this year, blah blah blah.
(06:46):
Guess what, both in the second and third quarter we
had a close to four percent growth. How could they
be more wrong? I mean, I would take it's almost
like playing pin the tail on the donkey with the
blindfolded person and you know, trying to put I mean,
their projections have been completely wrong, and the economy's done
much better this year than almost all of the economy.
(07:07):
Remember Paul Kruman over that one, he said, oh my god,
we're gonna have a second great depression of Trump goes
back into office. Well, I don't know. I looked at
the stock markets doing pretty well.
Speaker 1 (07:17):
Well. You know, I can understand the New York Times
hiring a total sleazy, biased economist, But if you're a
big Wall Street firm, you got to get it right.
Speaker 2 (07:26):
How can we got it all wrong?
Speaker 1 (07:28):
Don't you have to fire the economists to get it?
I mean baseball manager gets fired if you lose too
many games.
Speaker 2 (07:32):
Exactly. No. But that's the thing about you know, the
the economics and politics is it doesn't matter how much
many times you're wrong, you know. I mean people have
written whole books about Paul Krugman about almost every prediction
you ever made. You know, he remembers he said Internet,
that's just a passing fan.
Speaker 1 (07:47):
Remember that one the dumbest guy ever. Doesn't he have
a Nobel price.
Speaker 2 (07:55):
He does, he has a Nobel Prize in economics. So
that's you know who deserves By the way, since this
is Nobel time, you know the guy who really does
deserve the Nobel Prize, who's probably the most influential living economy.
I mean I don't think probably, I think certainly is
the most impactful economists over the last you know, twenty
five years all over the world is out there laugher
(08:18):
and he still doesn't have a he doesn't have a
Nobel prize yet.
Speaker 1 (08:21):
Well, he's got to be Trump bashing and he's got
to be much.
Speaker 2 (08:25):
Exact he did that, he'd get that Nobel Prize in
five minutes.
Speaker 1 (08:28):
Well Steve Moore, great work. Now he runs the committee
to Unleashed Prosperity. Go to Unleash prosperity dot com. You
guys have the best daily briefing and analysis of the
news every day. It's free. Come right to your email
Unleashed prosperity dot com. Steve Moore, thanks for being with us.
Speaker 2 (08:45):
Okay, Mark, have a great weekend.
Speaker 1 (08:47):
Take care, take care. Yeah, go sign up for that.
It is the best daily analysis and news every day.
It's free. Unleashed prosperity dot com. Also, make sure you
follow me on Twitter if you want to see the
sombrero memes. They're all on my Twitter page. Make sure
you follow me on Instagram. It's Mark Simone NYC at Instagram.
Mark Simon, we're looking for Steve Moore. What a shot? Huh,
Now he'll turn up. I'll bet you we find him then.
I don't want to predict, but I bet you we'll
find him. So hey, if you want a luxury home,
(00:22):
how much you have to spend a luxury home? What's
considered a luxury home? How much? A million dollars? No,
that won't do it anymore. It used to, but according
to realtor dot com, a million dollars will no longer
buy a luxury home in America anymore. A new analysis
shows one point three million, at least one point three
(00:46):
million starting point for a luxury home, and that they
could what they call luxury home is if it's in
the top ten percent of the home listings. But to
get in the top ten percent, you now need to
spend one point three million. Just ten years ago, it
was eight hundred thousand. Now if you want to get
in the top one percent, got to be five and
(01:09):
a half million. And obviously geography is a factor. It's
different in different areas, so prices and you know, prices
keep going up here in New York. I know the Brithings, Well,
everybody's gonna flee if Mom Donnie comes in and it's
going to cause a real estate crash. Prices are going
up every day for rentals, for sales everywhere. Well, we
(01:30):
got Steve Moore, the great economist. Get his book, The
Trump Economic Miracle. Check out. He runs the Committee to
Unleashed Prosperity. Go to the website. Sign up for the
daily briefing, best news and analysis. Just go to Unleash
Prosperity dot com. Steve Moore, how you doing well?
Speaker 2 (01:48):
Hey, Mark, Good to be with you. And a terrible
because you know the I just can't sleep at night
because the Labor Department and the Education Department are closed down.
I mean, how am I going to go forward?
Speaker 1 (01:58):
Yeah? Hey, don't you know.
Speaker 2 (01:59):
We's got dollars hundreds and hundreds and hundreds of thousands
of these quote non essential you know, that's their term,
non essential government employees. And we've got we've got an
enterprise here that's losing two trillion dollars a year. Hmm.
Maybe Russell bow is right, Maybe we just do away
with all these non essential people and we can move
to a balanced budget.
Speaker 1 (02:18):
Yeah, you know, people forget we have a government shutdown
every week five o'clock Friday night. They shut down for.
Speaker 2 (02:23):
Two days exactly. Well, you know the funny thing is,
I guess it's funny, but you know, every I think,
as you know, Mark, every Friday morning, the first Friday
of every month, at eight three in the morning, I'm
with Maria about Aroma. Who does the jobs report? You
know when the big jobs number comes out. They're not
going to do it tomorrow.
Speaker 1 (02:43):
Did you know that?
Speaker 2 (02:44):
It's I've been told that there will not be a
jobs report because they can't I guess count when the
government to shut down. So we'll we will see about that.
But look, this is this is the Schumer shutdown. You're
there in New York, so you've got a lot of
New York voters there. Schumer wanted the shutdown. I said
this a couple of weeks ago, that Schumer was going
(03:04):
to shut the government down. That's exactly what he has done.
But it's not working for the Democrats. I don't think Mark.
I mean, I'm talking to his normal people all the time.
They're like, why are the Democrats doing this? Is it
really because they just want to provide free healthcare the
legal immigrants.
Speaker 1 (03:17):
Now they'll say that's a lie. It's a Republican lie,
but tell us the truth. It does.
Speaker 2 (03:22):
But it's not a lie. I mean is I read
the text of their version and it repeals the provision
in the Republican budget that says you are not permitted
that Medicaid dollars can only go to people who are
either legal citizens or legal immigrants in the country. So
that pretty much leaves illegal immigrants out.
Speaker 1 (03:45):
But I was watching Morning Joe, and according to him,
you guys, you're just all to give money to billionaires.
That's all the care, right.
Speaker 2 (03:55):
Though he doesn't say the billionaires are playing more of
the taxes than ever before in American history. Top one
percent pay a larger share of the tax of income
tax them anytime ever since we invented the income tax
and back in nineteen thirteen. So those are just those
are just talking points from the Democrats. But I just
don't get it. I mean, I think Schumer's kind of
(04:16):
thing is is back learned. He lost, as you know,
he lost three Democratic senators in the vote that happened
before that, and I think if you had another vote,
he'd probably lose another three or four. And again, I
want to make sure people understand this Mark because you know,
we have byzantine rules in Washington. So people say, well, look,
the Republicans don't call the House the Senate and the
White House. Why is the government shut down? It's because
(04:38):
it takes sixty votes in the Senate, sixty out of
one hundred to pass the budget. And all the Republicans
and three Democrats voted for that. But that only brought
us to what fifty five or fifty six, So that's
why there's still five votes are short. But I bet
if they had a vote tomorrow, I think you'd be
getting close to sixty. Because the Democrats are getting hammered
on this. Nobody understands what it is that they're after here.
(05:01):
It's just show voting and trying to embarrass Trump and
trying to get more money. And by the way, I'm
very pro immigration. I think immigrants are great, but.
Speaker 1 (05:08):
No, not.
Speaker 2 (05:09):
You can't let all these people come into the country
and then go to the go and use our healthcare
services and you and I pay for it. Yeah.
Speaker 1 (05:17):
No, we love immigration. We just don't like illegals. I mean,
I love, exactly love I love pharmacists, but I don't
like you illegal drug dealers.
Speaker 2 (05:23):
I mean.
Speaker 1 (05:25):
Exactly apparently there is a vote tomorrow eleven am. That's
when they may vote again tomorrow.
Speaker 2 (05:33):
Okay, and I'll bet you I don't know if they'll
get to sixty, but they're going to get close because
the Democrats are feeling the anger of the American people.
And by the way, this does cost money. That's the
other thing that rush Bott is saying is like, well,
you know, when we have these non essential people not
go to the office, did you know.
Speaker 1 (05:51):
They get paid? Yeah, everybody, they.
Speaker 2 (05:53):
Still get paid. Showing off for not having to work costs.
I wish my bosses said that you cannot show up
with us tomorrow, but I'm still gonna pay you. Yeah.
Speaker 1 (06:02):
Hey, Steve Moore, let me ask you something. You're a
brilliant economist. We've got great economists, you, Art Laugher, Larry Cudlow,
Steve Forbes. Then you got forty thousand other economists. They
never know what the hell they're talking about, and they're
always wrong. Why is that?
Speaker 2 (06:17):
Yeah, well, we had something in our hotline this morning
about that, and if you want to get that for free,
focus go down leash past thirty dot com and sign.
Speaker 1 (06:24):
Up for free.
Speaker 2 (06:25):
But we looked at the the forecast of all the
blue chip economists, all the smartest economsts at all the
big you know, banks and investment firms and so on,
the ones that are paid a million dollars a year
to come up with these forecasts, and they are the
blue chip. All the blue chip forecasts. There was almost
no exceptions. They all basically, Oh, we're gonna have one
and a half percent economic growth this year, blah blah blah.
(06:46):
Guess what, both in the second and third quarter we
had a close to four percent growth. How could they
be more wrong? I mean, I would take it's almost
like playing pin the tail on the donkey with the
blindfolded person and you know, trying to put I mean,
their projections have been completely wrong, and the economy's done
much better this year than almost all of the economy.
(07:07):
Remember Paul Kruman over that one, he said, oh my god,
we're gonna have a second great depression of Trump goes
back into office. Well, I don't know. I looked at
the stock markets doing pretty well.
Speaker 1 (07:17):
Well. You know, I can understand the New York Times
hiring a total sleazy, biased economist, But if you're a
big Wall Street firm, you got to get it right.
Speaker 2 (07:26):
How can we got it all wrong?
Speaker 1 (07:28):
Don't you have to fire the economists to get it?
I mean baseball manager gets fired if you lose too
many games.
Speaker 2 (07:32):
Exactly. No. But that's the thing about you know, the
the economics and politics is it doesn't matter how much
many times you're wrong, you know. I mean people have
written whole books about Paul Krugman about almost every prediction
you ever made. You know, he remembers he said Internet,
that's just a passing fan.
Speaker 1 (07:47):
Remember that one the dumbest guy ever. Doesn't he have
a Nobel price.
Speaker 2 (07:55):
He does, he has a Nobel Prize in economics. So
that's you know who deserves By the way, since this
is Nobel time, you know the guy who really does
deserve the Nobel Prize, who's probably the most influential living economy.
I mean I don't think probably, I think certainly is
the most impactful economists over the last you know, twenty
five years all over the world is out there laugher
(08:18):
and he still doesn't have a he doesn't have a
Nobel prize yet.
Speaker 1 (08:21):
Well, he's got to be Trump bashing and he's got
to be much.
Speaker 2 (08:25):
Exact he did that, he'd get that Nobel Prize in
five minutes.
Speaker 1 (08:28):
Well Steve Moore, great work. Now he runs the committee
to Unleashed Prosperity. Go to Unleash prosperity dot com. You
guys have the best daily briefing and analysis of the
news every day. It's free. Come right to your email
Unleashed prosperity dot com. Steve Moore, thanks for being with us.
Speaker 2 (08:45):
Okay, Mark, have a great weekend.
Speaker 1 (08:47):
Take care, take care. Yeah, go sign up for that.
It is the best daily analysis and news every day.
It's free. Unleashed prosperity dot com. Also, make sure you
follow me on Twitter if you want to see the
sombrero memes. They're all on my Twitter page. Make sure
you follow me on Instagram. It's Mark Simone NYC at Instagram.
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