December 18, 2025 • 10 mins
Steve analyzes the new economic reports, noting that November’s consumer prices rose at a 2.7% annual rate, lower than expected due to a delayed report. Moore discusses how President Trump’s “One Big Beautiful Bill” could bring historic savings for many Americans, affecting their tax statements and paychecks.
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Episode Transcript
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Speaker 1 (00:00):
When he's not on doubleuor he's on your phone or
smart speaker, fick your device and tell it to play
the Mark Simone podcast anytime. It's morea Mark Mark Simone
on seven ten doubleor well. Steve Moore a great economist,
one of the finest in the world. You should get
his latest book that ca you need a good Christmas
(00:21):
present for somebody excellent. Get his book The Trump Economic Miracle.
Excellent book. Also, the best daily briefing comes from his group,
the Committee to Unleashed Prosperity. It's free and have it
come right to your email everyday best news analysis. Just
go to Unleash Prosperity dot com and sign up. Unleash
Prosperity dot com. Steve Moore, how you doing.
Speaker 2 (00:45):
Good, Mary Christmas? And boy, we got a nice Christmas
present this morning with that low inflation number waves below expectations.
And we're now down to about two point six percent
inflation under Trump, which is, you know, half of what
it was under Biden five percent. So you know enough
about this affordability crisis. Prices, the rate of inflation has
(01:05):
come down a lot in just the last six months.
Speaker 1 (01:09):
Well yeah, but it's an upsetting number. If you're a Democrat,
they were looking for three, weren't they not two points?
Speaker 2 (01:15):
Yeah? Exactly. That's a big, big error. And incidentally, you know,
the most recent numbers, you know, for the last couple
of months were really low. That means that, you know,
we're looking at an inflation rate that will stay low
now for the months to come. I'm extremely bullish on
twenty twenty six. I think we're going to see. I
liked what Trump had to say last night that the
(01:35):
best is yet to come. He's exactly right about that.
So feeling good about things, and you know, I can
even now go out nice and Christmas presents and with
what six days the shop left.
Speaker 1 (01:46):
Yeah. Hey, but it's a great technique they've come up
with the left and the Democrats, the media combined. You
just drilled something into people's heads and thousand times a day,
affordability crisis exactly, and they start to believe it.
Speaker 2 (01:58):
So didn't they use that? Why didn't they use that
term when up Iden was president and inflation went up
to nine percent?
Speaker 1 (02:04):
Let me guess he was a Democrat.
Speaker 2 (02:10):
It's unbelievable because you know, we've seen we're not bringing
inflation down as quickly as i'd like, But we're seeing
big improvement. And what about gas prices? Now, look, I
know you're there in the New York area where you
still pay what three four dollars a gallon, but in
most places the price of gas is now down to
about two seventy nine a gallon, which is really you know,
(02:32):
remember it hit five dollars.
Speaker 1 (02:33):
Remember that Biden oil is fifty five dollars.
Speaker 2 (02:37):
Now, amazing, Yeah it was. It was eighty dollars when
he came into office. Now it's fifty five. So that's
what about a thirty percent reduction in the price of oil.
And by the way, when the energy price goes down
like that, mark everything, it's sort of the lead indicator
where prices are headed because energy is a component of
(02:57):
everything way by, from toys to food to you know,
rent and housing. So look, it's a good economy. Trump
was right about that last night. Now, I know people
are hurting. I know people get angry when you say
that because they want to value ground bee for a stake,
and they get angry because it's really expensive. And my
wife is among those people who complains every time she
comes back to the grocery store. But no, we're cooking.
(03:21):
We got to get a good decent jobs report. We
got a really good inflation report, and so it's going
to be a good Christmas Christmas Day for people. And
twenty twenty six, Wow, I just wait the messes yet
to come.
Speaker 1 (03:35):
You know, the price of beef went up because the
Biden administration did everything they could to reduce the amount
of cattle we had. Remember they thought cows caused.
Speaker 2 (03:43):
Yeah, we have a record number of cows. You know,
if you reduce the number of cows, what do you
think is gonna happen to the beef prices? Simple economics, right.
Speaker 1 (03:54):
You know. The President rattled off all these things, Inflation
way down, wages up for construction, all these different things.
But if you watch it's like the NBC Nightly News,
the way they phrase it is the President claimed to
the reduced inflation, the present claim to How did they
get away with that kind of language.
Speaker 2 (04:10):
Well, one mistake Trump made, and a lot of us
make this mistake. Trump said, oh, I'm going to bring
prices down now, you know we in fact, you don't
want disinflation. Disinflation is even worse than inflation. I mean,
we had disinflation throughout the Great Depression in nineteen thirties.
What we want is price stability, and we want to
bring that inflation rate down to the fat target of
(04:32):
two percent. And we're well on the way. But that
means that, you know, prices will still rise, but at
a much a lower rate than they did Underbiden. So
you know, I saw this poll the other day. This
is a perfect example of how the media the source thing.
They said, eighty six percent of American people say prices
are everything's more expensive than ever. Well, that's true. I mean,
(04:54):
prices are more expensive today than they were fifty years ago,
you know, and everything gets more expensive over time. The
point is that right now, the most important measurement is
our price is rising faster than people's wages and salaries.
And the answer to that is no. Right now, wages
and salaries are rising faster than inflation, which means we
(05:17):
have more after tax, after inflation income, which means we
have more affordability.
Speaker 1 (05:22):
Now.
Speaker 2 (05:22):
Look, I understand housing is really expensive for young people.
I understand b physics somanths of healthcare is out of control.
And that's a mystery because gee, I thought we passed
the Affordable Care Act. How could help there prices be
out of control.
Speaker 1 (05:34):
Yeah. Now, Steve Moore, you're the expert economist. In one year,
President Trump cut inflation in half, took it from five percent. Yes,
is there anything? Is there any way you could have
done more than that? I mean, you don't. You can't
bring it down any faster than that, can you?
Speaker 2 (05:49):
We could have, I mean, we could have. I mean, look,
there's no question that the terrorists did cause some inflation.
And you know, we saw a perfect example of that
is coffee prices rose a lot because we've put a
big tariff on you know, coffee beans coming in from
from Columbia and Brazil and so on. But it's been
(06:10):
a good it's been a good year for the US economy.
How about the fact that the economy has been growing
at three and a half to four percent for the
last nine months.
Speaker 1 (06:17):
Now, yeah, Now, the Big Beautiful Bill.
Speaker 2 (06:19):
That's a high growth number.
Speaker 1 (06:20):
Yeah. Yeah. The Big Beautiful Bill doesn't kick in for
taxpayers until January. And I'm told they'll get a reduction
in their taxes more in the Patriots. Yes, yeah, I'm
told the amount is going to shock people, and how
much of an increase they'll get.
Speaker 2 (06:34):
That's exactly right. So the people come up to me
on the street and say, hey, well you know you
were helped to pass that big beautiful bill. Where's my tax?
And I said, just wait, it's coming in January. You know,
the no tax on tips, the no tax on overtime
that you know, people will change the withholding. So most
Americans will get a boost in their paychecks starting in January.
(06:55):
And that's going to be equivalent of about two thousand
dollars for the average family.
Speaker 1 (06:58):
That ain't that ain't not no. Now, the only mine
land mine out there that could go off is this
Affordable Care Act. Healthcare costs. What are we going to
do about that?
Speaker 2 (07:10):
Well, with one good way to start is to make
sure that we don't pass more Obamacare subsidies, which keep
feeding the beast of the healthcare system. By the way,
most of that money if we passed the increase in
all those subsidies, you know who gets about sixty cents
of every dollar of the increased subsidies the health insurance companies.
Speaker 1 (07:35):
So but we have to extend. We have to give
an extension till we figure out a plan. I mean, right,
we're going.
Speaker 2 (07:42):
To look, it's a disaster. The healthcare system is a disaster.
They've ruined it. They've ruined it Mark and you know,
it's it's unbelievable because it's the one thing we never have,
how much is it going to cost?
Speaker 1 (07:53):
Right?
Speaker 2 (07:53):
We never ask when you know, when you go to
the doctor or the physician or the hospital and they
say you need to have a you do you ask
three how much that's gonna cost? Nobody does. That's like
you know, going to the grocery store and saying, oh,
I'll take that and that and that and not looking
at the price tag. So we got to get the
consumer back in the market here, so everybody becomes and
(08:15):
that way, you know, you need insurance for your you
know those rare really expensive things like if you get
canceled out forbid, or break your leg or you have,
you know, a chronic disease, you want to be covered.
But you know, we got to put the patient back
in an equation and why not? How about this? This
is an idea Trump is paid for. If you were
to pay for some of these medical procedures, but with cash,
(08:37):
you would pay twenty five to thirty percent less less.
There are some places, by the way, an MRI. Literally
in Washington, c one hospital charge with eight hundred dollars
for an MRI. The other one costs you five charge
you five thousand dollars. What yeah, I mean it's the
pricing is unbelievable. We need price transparency. That's something Trump's
been really good at. So anyway, I am I'm very optimist. Sick.
(09:00):
Are we going to be on next week?
Speaker 1 (09:01):
I don't see. Actually I'll be gone. Yeah.
Speaker 2 (09:05):
Oh well, I have a merry, merry Christmas. I have
a happy, happy New Year, and we I'm not going
to get a pay raise for my weekly segment with
you next year.
Speaker 1 (09:15):
We're giving you a triple triple next year.
Speaker 2 (09:17):
Triplet Wait, triple zero is still zero?
Speaker 1 (09:21):
All right, quadruple what you are a great negotiator?
Speaker 2 (09:25):
All right? Yeah. So anyway, Mark, have a great, great Christmas,
and you can't wait to talk to the end of
new year, and good things are to come. Bunks, and
merry Christmas to all your listeners. And get the hotline.
It's free.
Speaker 1 (09:36):
Yeah, that's a great present for yourself. It's free. Just
go to unleash Prosperity dot com and for somebody else
gets Steve Moore's book The Trump Economic Miracle, be a
great Christmas presents, really good book. Uh. Steve Moore, thanks
for being with us. Talk to you next year.
Speaker 2 (09:51):
Thanks, Perry, Christmas.
Speaker 1 (09:53):
Take care. Uh yeah, I'll be uh actually, today's my
last day of the year. Ken Rizzotto will be here tomorrow,
but then now next week and the week after for
two weeks, Curtis Sliwa will be filling in every day.
That'll be fascinating to hear what he's got to say
about the mayor race, the new mayor and everything else.
And don't forget Buck and Clay. They'll be here at
(10:13):
noon today right after this show. And then you got
Sean Hannity Most listened to radio show in America at three,
Jimmy Fayala, Great Show every United at nine, and he'll
be with us in the next hour here on seven
ten WR
When he's not on doubleuor he's on your phone or
smart speaker, fick your device and tell it to play
the Mark Simone podcast anytime. It's morea Mark Mark Simone
on seven ten doubleor well. Steve Moore a great economist,
one of the finest in the world. You should get
his latest book that ca you need a good Christmas
(00:21):
present for somebody excellent. Get his book The Trump Economic Miracle.
Excellent book. Also, the best daily briefing comes from his group,
the Committee to Unleashed Prosperity. It's free and have it
come right to your email everyday best news analysis. Just
go to Unleash Prosperity dot com and sign up. Unleash
Prosperity dot com. Steve Moore, how you doing.
Speaker 2 (00:45):
Good, Mary Christmas? And boy, we got a nice Christmas
present this morning with that low inflation number waves below expectations.
And we're now down to about two point six percent
inflation under Trump, which is, you know, half of what
it was under Biden five percent. So you know enough
about this affordability crisis. Prices, the rate of inflation has
(01:05):
come down a lot in just the last six months.
Speaker 1 (01:09):
Well yeah, but it's an upsetting number. If you're a Democrat,
they were looking for three, weren't they not two points?
Speaker 2 (01:15):
Yeah? Exactly. That's a big, big error. And incidentally, you know,
the most recent numbers, you know, for the last couple
of months were really low. That means that, you know,
we're looking at an inflation rate that will stay low
now for the months to come. I'm extremely bullish on
twenty twenty six. I think we're going to see. I
liked what Trump had to say last night that the
(01:35):
best is yet to come. He's exactly right about that.
So feeling good about things, and you know, I can
even now go out nice and Christmas presents and with
what six days the shop left.
Speaker 1 (01:46):
Yeah. Hey, but it's a great technique they've come up
with the left and the Democrats, the media combined. You
just drilled something into people's heads and thousand times a day,
affordability crisis exactly, and they start to believe it.
Speaker 2 (01:58):
So didn't they use that? Why didn't they use that
term when up Iden was president and inflation went up
to nine percent?
Speaker 1 (02:04):
Let me guess he was a Democrat.
Speaker 2 (02:10):
It's unbelievable because you know, we've seen we're not bringing
inflation down as quickly as i'd like, But we're seeing
big improvement. And what about gas prices? Now, look, I
know you're there in the New York area where you
still pay what three four dollars a gallon, but in
most places the price of gas is now down to
about two seventy nine a gallon, which is really you know,
(02:32):
remember it hit five dollars.
Speaker 1 (02:33):
Remember that Biden oil is fifty five dollars.
Speaker 2 (02:37):
Now, amazing, Yeah it was. It was eighty dollars when
he came into office. Now it's fifty five. So that's
what about a thirty percent reduction in the price of oil.
And by the way, when the energy price goes down
like that, mark everything, it's sort of the lead indicator
where prices are headed because energy is a component of
(02:57):
everything way by, from toys to food to you know,
rent and housing. So look, it's a good economy. Trump
was right about that last night. Now, I know people
are hurting. I know people get angry when you say
that because they want to value ground bee for a stake,
and they get angry because it's really expensive. And my
wife is among those people who complains every time she
comes back to the grocery store. But no, we're cooking.
(03:21):
We got to get a good decent jobs report. We
got a really good inflation report, and so it's going
to be a good Christmas Christmas Day for people. And
twenty twenty six, Wow, I just wait the messes yet
to come.
Speaker 1 (03:35):
You know, the price of beef went up because the
Biden administration did everything they could to reduce the amount
of cattle we had. Remember they thought cows caused.
Speaker 2 (03:43):
Yeah, we have a record number of cows. You know,
if you reduce the number of cows, what do you
think is gonna happen to the beef prices? Simple economics, right.
Speaker 1 (03:54):
You know. The President rattled off all these things, Inflation
way down, wages up for construction, all these different things.
But if you watch it's like the NBC Nightly News,
the way they phrase it is the President claimed to
the reduced inflation, the present claim to How did they
get away with that kind of language.
Speaker 2 (04:10):
Well, one mistake Trump made, and a lot of us
make this mistake. Trump said, oh, I'm going to bring
prices down now, you know we in fact, you don't
want disinflation. Disinflation is even worse than inflation. I mean,
we had disinflation throughout the Great Depression in nineteen thirties.
What we want is price stability, and we want to
bring that inflation rate down to the fat target of
(04:32):
two percent. And we're well on the way. But that
means that, you know, prices will still rise, but at
a much a lower rate than they did Underbiden. So
you know, I saw this poll the other day. This
is a perfect example of how the media the source thing.
They said, eighty six percent of American people say prices
are everything's more expensive than ever. Well, that's true. I mean,
(04:54):
prices are more expensive today than they were fifty years ago,
you know, and everything gets more expensive over time. The
point is that right now, the most important measurement is
our price is rising faster than people's wages and salaries.
And the answer to that is no. Right now, wages
and salaries are rising faster than inflation, which means we
(05:17):
have more after tax, after inflation income, which means we
have more affordability.
Speaker 1 (05:22):
Now.
Speaker 2 (05:22):
Look, I understand housing is really expensive for young people.
I understand b physics somanths of healthcare is out of control.
And that's a mystery because gee, I thought we passed
the Affordable Care Act. How could help there prices be
out of control.
Speaker 1 (05:34):
Yeah. Now, Steve Moore, you're the expert economist. In one year,
President Trump cut inflation in half, took it from five percent. Yes,
is there anything? Is there any way you could have
done more than that? I mean, you don't. You can't
bring it down any faster than that, can you?
Speaker 2 (05:49):
We could have, I mean, we could have. I mean, look,
there's no question that the terrorists did cause some inflation.
And you know, we saw a perfect example of that
is coffee prices rose a lot because we've put a
big tariff on you know, coffee beans coming in from
from Columbia and Brazil and so on. But it's been
(06:10):
a good it's been a good year for the US economy.
How about the fact that the economy has been growing
at three and a half to four percent for the
last nine months.
Speaker 1 (06:17):
Now, yeah, Now, the Big Beautiful Bill.
Speaker 2 (06:19):
That's a high growth number.
Speaker 1 (06:20):
Yeah. Yeah. The Big Beautiful Bill doesn't kick in for
taxpayers until January. And I'm told they'll get a reduction
in their taxes more in the Patriots. Yes, yeah, I'm
told the amount is going to shock people, and how
much of an increase they'll get.
Speaker 2 (06:34):
That's exactly right. So the people come up to me
on the street and say, hey, well you know you
were helped to pass that big beautiful bill. Where's my tax?
And I said, just wait, it's coming in January. You know,
the no tax on tips, the no tax on overtime
that you know, people will change the withholding. So most
Americans will get a boost in their paychecks starting in January.
(06:55):
And that's going to be equivalent of about two thousand
dollars for the average family.
Speaker 1 (06:58):
That ain't that ain't not no. Now, the only mine
land mine out there that could go off is this
Affordable Care Act. Healthcare costs. What are we going to
do about that?
Speaker 2 (07:10):
Well, with one good way to start is to make
sure that we don't pass more Obamacare subsidies, which keep
feeding the beast of the healthcare system. By the way,
most of that money if we passed the increase in
all those subsidies, you know who gets about sixty cents
of every dollar of the increased subsidies the health insurance companies.
Speaker 1 (07:35):
So but we have to extend. We have to give
an extension till we figure out a plan. I mean, right,
we're going.
Speaker 2 (07:42):
To look, it's a disaster. The healthcare system is a disaster.
They've ruined it. They've ruined it Mark and you know,
it's it's unbelievable because it's the one thing we never have,
how much is it going to cost?
Speaker 1 (07:53):
Right?
Speaker 2 (07:53):
We never ask when you know, when you go to
the doctor or the physician or the hospital and they
say you need to have a you do you ask
three how much that's gonna cost? Nobody does. That's like
you know, going to the grocery store and saying, oh,
I'll take that and that and that and not looking
at the price tag. So we got to get the
consumer back in the market here, so everybody becomes and
(08:15):
that way, you know, you need insurance for your you
know those rare really expensive things like if you get
canceled out forbid, or break your leg or you have,
you know, a chronic disease, you want to be covered.
But you know, we got to put the patient back
in an equation and why not? How about this? This
is an idea Trump is paid for. If you were
to pay for some of these medical procedures, but with cash,
(08:37):
you would pay twenty five to thirty percent less less.
There are some places, by the way, an MRI. Literally
in Washington, c one hospital charge with eight hundred dollars
for an MRI. The other one costs you five charge
you five thousand dollars. What yeah, I mean it's the
pricing is unbelievable. We need price transparency. That's something Trump's
been really good at. So anyway, I am I'm very optimist. Sick.
(09:00):
Are we going to be on next week?
Speaker 1 (09:01):
I don't see. Actually I'll be gone. Yeah.
Speaker 2 (09:05):
Oh well, I have a merry, merry Christmas. I have
a happy, happy New Year, and we I'm not going
to get a pay raise for my weekly segment with
you next year.
Speaker 1 (09:15):
We're giving you a triple triple next year.
Speaker 2 (09:17):
Triplet Wait, triple zero is still zero?
Speaker 1 (09:21):
All right, quadruple what you are a great negotiator?
Speaker 2 (09:25):
All right? Yeah. So anyway, Mark, have a great, great Christmas,
and you can't wait to talk to the end of
new year, and good things are to come. Bunks, and
merry Christmas to all your listeners. And get the hotline.
It's free.
Speaker 1 (09:36):
Yeah, that's a great present for yourself. It's free. Just
go to unleash Prosperity dot com and for somebody else
gets Steve Moore's book The Trump Economic Miracle, be a
great Christmas presents, really good book. Uh. Steve Moore, thanks
for being with us. Talk to you next year.
Speaker 2 (09:51):
Thanks, Perry, Christmas.
Speaker 1 (09:53):
Take care. Uh yeah, I'll be uh actually, today's my
last day of the year. Ken Rizzotto will be here tomorrow,
but then now next week and the week after for
two weeks, Curtis Sliwa will be filling in every day.
That'll be fascinating to hear what he's got to say
about the mayor race, the new mayor and everything else.
And don't forget Buck and Clay. They'll be here at
(10:13):
noon today right after this show. And then you got
Sean Hannity Most listened to radio show in America at three,
Jimmy Fayala, Great Show every United at nine, and he'll
be with us in the next hour here on seven
ten WR
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