December 16, 2025 • 21 mins
(December 16,2025)
Court battle begins over Republican challenge to California’s prop 50. Californian’s have the 4th lowest credit card burden in the U.S. Former President Biden has raised little of what he needs to build a Presidential Library. Why couples’ therapists are sick of ‘therapy speak.’
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Speaker 1 (00:00):
You're listening to Bill Handle on demand from KFI AM
six forty CAYL but started.
Speaker 2 (00:13):
I am six forty a handle here on a Tuesday morning,
December the sixteenth, just hours after Proposition fifty was I
had been voted on by California voters. As everybody knew,
(00:33):
the Republican Party, the state Republican Party immediately started filing
lawsuits to stop it.
Speaker 1 (00:39):
What's Prop fifty?
Speaker 2 (00:40):
As you know, well, it was in response to Texas
because President Trump told Texas the legislature, I want you
to redraw the map, the district map or the congressional map,
basically giving five districts that heretofore were democratic that Republicans
would probably win by simply redrawing the map. Well, as
(01:02):
you can imagine, lawsuits were filed there by the Democrats,
and a lower court ruled that it was illegal the
districting redistricting, and then they went directly to Supreme Court,
and the Supreme Court ruled that what Texas did was
completely legitimate. The argument that was made by those who
(01:26):
filed lawsuit is that the redistricting was based on racial lines,
that blacks were.
Speaker 1 (01:35):
Being discriminated against.
Speaker 2 (01:36):
Now with the new district plan in Texas, and the
lower court said, yep, this is racial and that's illegal.
Supreme Court said, nope, it is not racial. It is political. Yes,
they redrew the map to give the Republican Party a
bigger advantage. However, they can do that because that's what
(01:57):
legislators do.
Speaker 1 (01:58):
The state legislators are the ones that are.
Speaker 2 (02:01):
Empowered to draw up congressional maps, and usually it's done
at the end of a census period every ten years.
Speaker 1 (02:08):
This time around it was.
Speaker 2 (02:09):
In the middle and there was a political outcry on
that one. However, the bottom line is that the court rule.
The Supreme Court ruled this was political, not racial. So
here comes California to fight that straight out. California has
(02:30):
had a law that said the legislator, a legislature can't
do this. It's going to take an independent commission to
redraw the district lines. Why because we don't want it
to be political. We want it to be objective. We
want it to be fair. And therefore we're going to
have some Republicans on it, some Democrats equally, and then
others that were appointed by the governor. Bottom line, it
(02:53):
was going to be totally fair or ostensibly, but it
was for the most part totally fair. Well, guess what
California now has to fight Texas and basically fight fire
with fire their incomes.
Speaker 1 (03:07):
Prop fifty. Prop fifty takes away.
Speaker 2 (03:10):
That independent commission to redraw the districts and gives it
right back to the legislators. And what does the legislature do,
of course, is going to redraft in favor of the Democrats,
because California is the bluest of.
Speaker 1 (03:27):
The blue states.
Speaker 2 (03:29):
California not only has a Democratic governor, but it has
a Democratic supermajority in both Senate and the Senate and
the Assembly, which means that basically any law the Democrats
want pushed and put into place is going to happen.
And it means that the Republicans might as well stay
(03:49):
home because they're going to have no influence whatsoever on
California's law. Okay, now the court battle over the Republicans
challenge in California to challenge Prop fifty, and they clashed
in federal court, the Republicans and Democrats because now you
have the Republicans suing and they're saying that, wait a minute,
(04:14):
the red redistricting you did is racial. It was to
help Latinos and the Democrats.
Speaker 1 (04:22):
California says, no, it's not.
Speaker 2 (04:24):
It was political. It was to help democrats. That's it,
nothing more, nothing less. Well, where are they going to
go with that?
Speaker 1 (04:35):
No place?
Speaker 2 (04:37):
The Democrats are going to prevail. I'll tell you why
because when the court upheld this is the Supreme Court.
When the Supreme Court upheld Texas's ability to do that,
and California does exactly the same thing. The Supreme Court
also noted California in its decision. It mentioned cal California.
(05:01):
Bottom line is, this is legal unless you can prove
it is totally racial. And I don't know how are
you're going to do that because even coming up with
a reasonable argument that this is political in nature, and
it really does boil down to being political in nature,
(05:21):
where's the GOP going to go with that one?
Speaker 1 (05:23):
No place?
Speaker 2 (05:24):
Now, here's the irony. Texas is the first state to
pull this off. Then I think at South Carolina and
in a couple other states, the conservative legislators are doing
the same thing, and others are pending. California now is redistricting,
and that's going to be upheld by the court because
already the Supreme Court has ruled in the Texas case,
(05:45):
and it's exactly the same issue here. So where the
Republican's going to go. So Prop fifty is going to
stay in place. And by the way, it has a
sunset clause. It's only good through I think twenty thirty
and then afterwards it goes back to the Independent Commission.
This is strictly to fight Texas, nothing more, nothing less.
And so California is moving its map to add five additional.
Speaker 1 (06:10):
Districts, same thing as Texas, except.
Speaker 2 (06:12):
In the other way. It looks like Texas's plan is
going to fail while California is going to prevail, and
that is problematic for Texas. And this is where I
think the Republicans and the President blew it. We're going
to do this to get more Republican seats, and what
(06:34):
do they think the Democrats are going to just roll over?
I mean, of course they're going to fight it. And
that's exactly what's happening. And in the end, how many
stay Indiana just shut down Indiana, which is a Republican
legislature shut down and would not vote in a redistricting plan.
Speaker 1 (06:56):
It's not that easy.
Speaker 2 (06:57):
Except it looks like based on what the Supreme Court
with Texas and what's happening here in California. I think
the Democrats may have the edge on this issue. Okay,
I thought i'd share that with you. Anyway, that's not
going to go any place, all right, moving on, let
me go into this topic. As I said, this is
probably gonna be the most boring topic. Not really, I'm
(07:19):
kidding you, I think. And we're talking about the economy.
And Amy just reported that sixty four thousand jobs were
added in the month of December, which is better than expectations.
The problem is over one hundred thousand jobs were lost
in November and this does not bode well across the board.
It looks like we are Unemployment is going up, there's
(07:42):
no question about it. Consumer confidence is certainly going down. Prices,
contrary to the belief of some, are not dropping. The
poster child of me going to Costco a couple of
days ago and getting my English muffins where it used
to be seven ninety nine for a package of four
(08:02):
of these packs of English muffins, and now it's a
dollar and a half more for the same pack.
Speaker 1 (08:09):
Wow, But then prices went down.
Speaker 2 (08:11):
I've never been able to figure out how nine fifty
is lower than seven point fifty, but or eight, so
you figure that out.
Speaker 1 (08:21):
All right.
Speaker 2 (08:21):
There's a story in the Orange County Register about credit
card burden, and you would think that California, I mean,
we have some financial issues going down. But I'll tell
you what we don't have is credit card debt. Compared
to other states, we're the fourth lowest credit card burdened state.
(08:44):
In other words, we owe the least or at least
in terms of the way the analysis is done, we
actually owe more. That's only because we have more and
we make more than the other states. But the bottom line,
if you look at and here is this from wallet hub,
they looked at credit card balances, late paying card accounts,
(09:07):
federal wage data, credit scores.
Speaker 1 (09:10):
Put it all together.
Speaker 2 (09:12):
The number actually came out how many days of work
a week is required to pay off your credit card debt.
That's what all came down to. How many days a
week do you have to work to pay this off? Well,
in California it is eight days of average wages. In
(09:33):
other words, you have to work eight days to pay
off your credit card balance.
Speaker 1 (09:36):
That is the fourth lowest.
Speaker 2 (09:39):
Connecticut being well, it's tied with Connecticut for the lowest
now the median right is ten days, ten days versus
eight days.
Speaker 1 (09:50):
I mean, that's pretty substantial.
Speaker 2 (09:52):
Alaska has the highest number of workdays to pay off
credit card, almost thirteen days, and Mississippi is next to twelve.
And then it goes on and on and so what
is the balance? How much do you owe if you're
in credit card debt? Typically in California the average balance
is just over three thousand dollars, and you're not paying
(10:15):
your credit card bills off, but you're paying off your
credit card bills better than any other state in the Union.
So the differentiation was literally the size of the paycheck.
Speaker 1 (10:27):
That's it.
Speaker 2 (10:29):
And the Bureau of Labor Statistics measured all this in
the first quarter and they have their own formula, and
the most burdened states people earned two.
Speaker 1 (10:41):
Hundred and forty nine dollars.
Speaker 2 (10:44):
The lowest ones people earned three twenty one versus two
forty nine. So what's the bottom line here? I have
absolutely no idea, none whatsoever. I don't know what any
of this means. You can blame and for throwing this
topic at me, and I am sharing it with you,
(11:06):
But it does boil down to a simple maxim If
you can pay your credit card bills at the end
of the month.
Speaker 1 (11:13):
If you can't, then you have to redo how you buy.
Buying with a.
Speaker 2 (11:19):
Credit card, it's almost like free money in your mind.
It's plastic you take out. For example, spend a month
shopping with dollar bills with cash, and you'll see how
much you spend less without even thinking about it, because
real dollars.
Speaker 1 (11:36):
Yesterday I got a bunch of bagels.
Speaker 2 (11:37):
How unusual, and it was eight dollars and something sends
for free bagels. Go figure, there is a cost of
doing business. And I just took out a ten dollar bill.
I actually felt a ten dollar bill leaving my pocket,
not just physically feeling it, but felt this was money.
If I throw my credit card into that card reader, eh,
(12:01):
I mean, who pays attention to that. That's why credit
cards can be so dangerous and why credit card balances
go up. And also you forget what you bought with
credit cards. Look at your statement at the end of
the month. Oh yeah, and boy, these do have a
way of creeping up all right.
Speaker 1 (12:20):
Oh oh, this is a fun one. Now.
Speaker 2 (12:23):
I don't know if you've ever been to the Nixon
Library or the Reagan Library. I mean those are pretty
impressive places. When you go to these libraries, the Kennedy Library,
we're talking about presidential libraries.
Speaker 1 (12:38):
They're very impressive places for the most part.
Speaker 2 (12:41):
And every president starts working on a presidential library because
that's the legacy.
Speaker 1 (12:47):
Well, Joe Biden is also working on his. And here
is the difference.
Speaker 2 (12:52):
Presidential libraries cost hundreds of millions of dollars and they
are not built by governmental money, taxpayer money. It's private
money that builds these libraries, which means that lots and
lots of money has to be raised from donors. I
mean in the hundreds of millions of dollars. Joe Biden
(13:16):
has a little bit of a problem. He has forty
cents in his presidential library the bank account, and now
there's a lot of uncertainty about when a library is
going to be built. Does have viability loan as a
stand alone project, and that's very important because most presidential
libraries are stand alone, even if they're on campuses of universities,
(13:40):
they are their own buildings and their own campuses themselves,
so filing with the IRS, which they have to do.
Biden's library foundation, there's a foundation didn't receive any new money.
In twenty twenty four, the final year of his presidency,
when money really starts coming in. Instead, all the money
(14:01):
that it had four million dollars, that's it came from
the twenty twenty one inauguration. There was some money left
in his inauguration campaign, and.
Speaker 1 (14:12):
So here we go.
Speaker 2 (14:14):
Now he starts to look for money for the foundation
for his library, and now is beginning to actively raise money.
So the first event he's going to hold for potential
donors comes up on Monday in Georgetown, right outside of Washington.
Now this has even better and better. The foundation that's
(14:37):
going to create the library, because that's how way it works.
Told the IRS it specs to bring in eleven point
three million dollars by the end of twenty twenty seven.
Eleven million dollars. I wanted to keep that figure in
your mind while I go through this. Biden's aides say
they want to raise two hundred million dollars, So keep
(15:00):
that in mind. They have eleven million dollars right now,
expecting to have eleven million dollars by twenty twenty seven.
Speaker 1 (15:11):
The AID say we need two hundred million dollars.
Speaker 2 (15:16):
Well, there's so little money relative to a foundation relative
to a library. Presidential library discussions are underway about consolidating
a potential library with pre existing Biden institutions at the
University of Delaware, where he comes from, and that's where
he is going to put the library maybe, and that
(15:39):
has so little money and in reality has so little
chance of actually being built that it's probably have to
take advantage of the millions of dollars that the university
has and has already raised to build a Biden Hall
within the university. And when I'm talking about a Biden
(16:00):
I mean a Biden Hall, just the hallway that they're
going to build. Well, okay, maybe I exaggerate a little
bit on that one, but let me tell you about
the political aspects of this. Biden not only was not
my favorite president. Boy, what a choice you had Biden
or Trump on that one, you know, and before that
(16:22):
you had Hillary and Trump and just crazy Kamala Harris.
Speaker 1 (16:28):
I mean, give me a break.
Speaker 2 (16:29):
So Biden, who I as well as other people look
at Biden as having so much hubris that, as he
declared when he won, he was going to be a
transitional president. He was going to be one term and
turn over the party leadership and theoretically the president to
(16:49):
someone younger. And then he got to the point where,
oh no, this is Biden saying, I'm the only one
that can save America from Donald Trump. I am the
leader that is going to do this. The Hubris is
so insane, it's it's just nuts. So here's this, mister Hubris, right,
(17:11):
this is President Hubris now trying to go.
Speaker 1 (17:15):
To some contributors.
Speaker 2 (17:18):
Who we would normally go to to get this library
thing moving, because every president wants a library. I mean,
presidential libraries are sort of the thing. How do you
get a presidential library? Keeping in mind, you've got Obama,
You've got George w I mean, you have all the
presidential libraries out there. They cost hundreds of millions of dollars.
(17:40):
Biden has no money. His foundation that is building the
library says it'll have eleven million dollars by the end
of twenty twenty seven. So to give you an idea,
Obama has raised one point two billion dollars for his
presidential libry, which is under construction. Then you have Clinton,
(18:04):
who his is in the hundreds of millions of dollars.
President Trump who is going to build his in Miami,
which I don't understand why because he comes out of
New York.
Speaker 1 (18:15):
But okay, so be it.
Speaker 2 (18:17):
I'll bet you there are a couple of pissed off
New Yorkers that are not very happy with that. But
President Trump has already raised more than nine hundred and
fifty million dollars or wants to raise more than nine
hundred and fifty million dollars before he leaves office, which
he will do instantly. I mean with his donors, there's
no question about it. And that's still going to be
(18:39):
two hundred million short. So his is going to come
in at about one point one billion dollars. Biden is
going to have eleven million dollars by the end of
twenty twenty seven.
Speaker 1 (18:50):
So what are they going to do?
Speaker 2 (18:53):
Well, They've gone to donors already and most of them
said they haven't even contacted. The ones that were contacted
for this story, and this came out of the I
think Wall Street Journal and other Democratic donors said that
even if Biden did ask them, they're not going to
give any money because they're focused on President Trump or
(19:14):
just pissed off by Biden's term in office.
Speaker 1 (19:16):
They just weren't treated well.
Speaker 2 (19:19):
John Morgan, who's a Democratic donor, big time, one of
Biden's main top bundlers or raisers of money, said he
wouldn't give a penny because of the way he was
treated by Biden's staff. He also said the Biden staff
they ruined any type of good library for him. He's
lucky to have a bookmobile at the end of all this,
(19:43):
and so this is what I love.
Speaker 1 (19:44):
So they go to the Foundation.
Speaker 2 (19:47):
To get a comment on all this, and the Foundation
says it delayed holding fundraisers until now to allow for
intensive research, including visits to other presidential libraries. Now, I
don't know if you've ever gone to the Reagan Library
or the Nixon Library, which are wonderful. It takes about
(20:08):
an afternoon to go through them. That's what it takes.
And so coming out and doing extensive research, okay, we've
been doing that for years.
Speaker 1 (20:17):
Good for you.
Speaker 2 (20:19):
Also, Biden has been you know, he's been distracted. He's
got the radiation therapy, et cetera. But the bottom line is,
and this is where I said, there's you can look
at it different ways, good news or bad news, and
that is people former presidents who are raising tons and
(20:40):
tons of money. They're going to donors, and the argument
is they are beholden to those donors not only throughout
the presidency, but even afterwards using their influence. Biden has
the least number of donors of any of these presidents,
and his argument, or people would argue in his favors,
say that's right, he is beholden to far fewer people.
(21:04):
In the meantime, we have a lot of space on
the fifth floor here at KFI, and you are going
to see some Biden people come around because the few
thousand square feet, wouldn't it be wild? The Joseph Biden
Presidential Library on the fifth floor of where iHeart has
(21:28):
extra space.
Speaker 1 (21:30):
Pretty impressive.
Speaker 2 (21:31):
This is KFI AM six y f five.
Speaker 1 (21:36):
You've been listening to the Bill Handle Show.
Speaker 2 (21:38):
Catch my show Monday through Friday six am to nine am,
and anytime on demand on the iHeartRadio app.
You're listening to Bill Handle on demand from KFI AM
six forty CAYL but started.
Speaker 2 (00:13):
I am six forty a handle here on a Tuesday morning,
December the sixteenth, just hours after Proposition fifty was I
had been voted on by California voters. As everybody knew,
(00:33):
the Republican Party, the state Republican Party immediately started filing
lawsuits to stop it.
Speaker 1 (00:39):
What's Prop fifty?
Speaker 2 (00:40):
As you know, well, it was in response to Texas
because President Trump told Texas the legislature, I want you
to redraw the map, the district map or the congressional map,
basically giving five districts that heretofore were democratic that Republicans
would probably win by simply redrawing the map. Well, as
(01:02):
you can imagine, lawsuits were filed there by the Democrats,
and a lower court ruled that it was illegal the
districting redistricting, and then they went directly to Supreme Court,
and the Supreme Court ruled that what Texas did was
completely legitimate. The argument that was made by those who
(01:26):
filed lawsuit is that the redistricting was based on racial lines,
that blacks were.
Speaker 1 (01:35):
Being discriminated against.
Speaker 2 (01:36):
Now with the new district plan in Texas, and the
lower court said, yep, this is racial and that's illegal.
Supreme Court said, nope, it is not racial. It is political. Yes,
they redrew the map to give the Republican Party a
bigger advantage. However, they can do that because that's what
(01:57):
legislators do.
Speaker 1 (01:58):
The state legislators are the ones that are.
Speaker 2 (02:01):
Empowered to draw up congressional maps, and usually it's done
at the end of a census period every ten years.
Speaker 1 (02:08):
This time around it was.
Speaker 2 (02:09):
In the middle and there was a political outcry on
that one. However, the bottom line is that the court rule.
The Supreme Court ruled this was political, not racial. So
here comes California to fight that straight out. California has
(02:30):
had a law that said the legislator, a legislature can't
do this. It's going to take an independent commission to
redraw the district lines. Why because we don't want it
to be political. We want it to be objective. We
want it to be fair. And therefore we're going to
have some Republicans on it, some Democrats equally, and then
others that were appointed by the governor. Bottom line, it
(02:53):
was going to be totally fair or ostensibly, but it
was for the most part totally fair. Well, guess what
California now has to fight Texas and basically fight fire
with fire their incomes.
Speaker 1 (03:07):
Prop fifty. Prop fifty takes away.
Speaker 2 (03:10):
That independent commission to redraw the districts and gives it
right back to the legislators. And what does the legislature do,
of course, is going to redraft in favor of the Democrats,
because California is the bluest of.
Speaker 1 (03:27):
The blue states.
Speaker 2 (03:29):
California not only has a Democratic governor, but it has
a Democratic supermajority in both Senate and the Senate and
the Assembly, which means that basically any law the Democrats
want pushed and put into place is going to happen.
And it means that the Republicans might as well stay
(03:49):
home because they're going to have no influence whatsoever on
California's law. Okay, now the court battle over the Republicans
challenge in California to challenge Prop fifty, and they clashed
in federal court, the Republicans and Democrats because now you
have the Republicans suing and they're saying that, wait a minute,
(04:14):
the red redistricting you did is racial. It was to
help Latinos and the Democrats.
Speaker 1 (04:22):
California says, no, it's not.
Speaker 2 (04:24):
It was political. It was to help democrats. That's it,
nothing more, nothing less. Well, where are they going to
go with that?
Speaker 1 (04:35):
No place?
Speaker 2 (04:37):
The Democrats are going to prevail. I'll tell you why
because when the court upheld this is the Supreme Court.
When the Supreme Court upheld Texas's ability to do that,
and California does exactly the same thing. The Supreme Court
also noted California in its decision. It mentioned cal California.
(05:01):
Bottom line is, this is legal unless you can prove
it is totally racial. And I don't know how are
you're going to do that because even coming up with
a reasonable argument that this is political in nature, and
it really does boil down to being political in nature,
(05:21):
where's the GOP going to go with that one?
Speaker 1 (05:23):
No place?
Speaker 2 (05:24):
Now, here's the irony. Texas is the first state to
pull this off. Then I think at South Carolina and
in a couple other states, the conservative legislators are doing
the same thing, and others are pending. California now is redistricting,
and that's going to be upheld by the court because
already the Supreme Court has ruled in the Texas case,
(05:45):
and it's exactly the same issue here. So where the
Republican's going to go. So Prop fifty is going to
stay in place. And by the way, it has a
sunset clause. It's only good through I think twenty thirty
and then afterwards it goes back to the Independent Commission.
This is strictly to fight Texas, nothing more, nothing less.
And so California is moving its map to add five additional.
Speaker 1 (06:10):
Districts, same thing as Texas, except.
Speaker 2 (06:12):
In the other way. It looks like Texas's plan is
going to fail while California is going to prevail, and
that is problematic for Texas. And this is where I
think the Republicans and the President blew it. We're going
to do this to get more Republican seats, and what
(06:34):
do they think the Democrats are going to just roll over?
I mean, of course they're going to fight it. And
that's exactly what's happening. And in the end, how many
stay Indiana just shut down Indiana, which is a Republican
legislature shut down and would not vote in a redistricting plan.
Speaker 1 (06:56):
It's not that easy.
Speaker 2 (06:57):
Except it looks like based on what the Supreme Court
with Texas and what's happening here in California. I think
the Democrats may have the edge on this issue. Okay,
I thought i'd share that with you. Anyway, that's not
going to go any place, all right, moving on, let
me go into this topic. As I said, this is
probably gonna be the most boring topic. Not really, I'm
(07:19):
kidding you, I think. And we're talking about the economy.
And Amy just reported that sixty four thousand jobs were
added in the month of December, which is better than expectations.
The problem is over one hundred thousand jobs were lost
in November and this does not bode well across the board.
It looks like we are Unemployment is going up, there's
(07:42):
no question about it. Consumer confidence is certainly going down. Prices,
contrary to the belief of some, are not dropping. The
poster child of me going to Costco a couple of
days ago and getting my English muffins where it used
to be seven ninety nine for a package of four
(08:02):
of these packs of English muffins, and now it's a
dollar and a half more for the same pack.
Speaker 1 (08:09):
Wow, But then prices went down.
Speaker 2 (08:11):
I've never been able to figure out how nine fifty
is lower than seven point fifty, but or eight, so
you figure that out.
Speaker 1 (08:21):
All right.
Speaker 2 (08:21):
There's a story in the Orange County Register about credit
card burden, and you would think that California, I mean,
we have some financial issues going down. But I'll tell
you what we don't have is credit card debt. Compared
to other states, we're the fourth lowest credit card burdened state.
(08:44):
In other words, we owe the least or at least
in terms of the way the analysis is done, we
actually owe more. That's only because we have more and
we make more than the other states. But the bottom line,
if you look at and here is this from wallet hub,
they looked at credit card balances, late paying card accounts,
(09:07):
federal wage data, credit scores.
Speaker 1 (09:10):
Put it all together.
Speaker 2 (09:12):
The number actually came out how many days of work
a week is required to pay off your credit card debt.
That's what all came down to. How many days a
week do you have to work to pay this off? Well,
in California it is eight days of average wages. In
(09:33):
other words, you have to work eight days to pay
off your credit card balance.
Speaker 1 (09:36):
That is the fourth lowest.
Speaker 2 (09:39):
Connecticut being well, it's tied with Connecticut for the lowest
now the median right is ten days, ten days versus
eight days.
Speaker 1 (09:50):
I mean, that's pretty substantial.
Speaker 2 (09:52):
Alaska has the highest number of workdays to pay off
credit card, almost thirteen days, and Mississippi is next to twelve.
And then it goes on and on and so what
is the balance? How much do you owe if you're
in credit card debt? Typically in California the average balance
is just over three thousand dollars, and you're not paying
(10:15):
your credit card bills off, but you're paying off your
credit card bills better than any other state in the Union.
So the differentiation was literally the size of the paycheck.
Speaker 1 (10:27):
That's it.
Speaker 2 (10:29):
And the Bureau of Labor Statistics measured all this in
the first quarter and they have their own formula, and
the most burdened states people earned two.
Speaker 1 (10:41):
Hundred and forty nine dollars.
Speaker 2 (10:44):
The lowest ones people earned three twenty one versus two
forty nine. So what's the bottom line here? I have
absolutely no idea, none whatsoever. I don't know what any
of this means. You can blame and for throwing this
topic at me, and I am sharing it with you,
(11:06):
But it does boil down to a simple maxim If
you can pay your credit card bills at the end
of the month.
Speaker 1 (11:13):
If you can't, then you have to redo how you buy.
Buying with a.
Speaker 2 (11:19):
Credit card, it's almost like free money in your mind.
It's plastic you take out. For example, spend a month
shopping with dollar bills with cash, and you'll see how
much you spend less without even thinking about it, because
real dollars.
Speaker 1 (11:36):
Yesterday I got a bunch of bagels.
Speaker 2 (11:37):
How unusual, and it was eight dollars and something sends
for free bagels. Go figure, there is a cost of
doing business. And I just took out a ten dollar bill.
I actually felt a ten dollar bill leaving my pocket,
not just physically feeling it, but felt this was money.
If I throw my credit card into that card reader, eh,
(12:01):
I mean, who pays attention to that. That's why credit
cards can be so dangerous and why credit card balances
go up. And also you forget what you bought with
credit cards. Look at your statement at the end of
the month. Oh yeah, and boy, these do have a
way of creeping up all right.
Speaker 1 (12:20):
Oh oh, this is a fun one. Now.
Speaker 2 (12:23):
I don't know if you've ever been to the Nixon
Library or the Reagan Library. I mean those are pretty
impressive places. When you go to these libraries, the Kennedy Library,
we're talking about presidential libraries.
Speaker 1 (12:38):
They're very impressive places for the most part.
Speaker 2 (12:41):
And every president starts working on a presidential library because
that's the legacy.
Speaker 1 (12:47):
Well, Joe Biden is also working on his. And here
is the difference.
Speaker 2 (12:52):
Presidential libraries cost hundreds of millions of dollars and they
are not built by governmental money, taxpayer money. It's private
money that builds these libraries, which means that lots and
lots of money has to be raised from donors. I
mean in the hundreds of millions of dollars. Joe Biden
(13:16):
has a little bit of a problem. He has forty
cents in his presidential library the bank account, and now
there's a lot of uncertainty about when a library is
going to be built. Does have viability loan as a
stand alone project, and that's very important because most presidential
libraries are stand alone, even if they're on campuses of universities,
(13:40):
they are their own buildings and their own campuses themselves,
so filing with the IRS, which they have to do.
Biden's library foundation, there's a foundation didn't receive any new money.
In twenty twenty four, the final year of his presidency,
when money really starts coming in. Instead, all the money
(14:01):
that it had four million dollars, that's it came from
the twenty twenty one inauguration. There was some money left
in his inauguration campaign, and.
Speaker 1 (14:12):
So here we go.
Speaker 2 (14:14):
Now he starts to look for money for the foundation
for his library, and now is beginning to actively raise money.
So the first event he's going to hold for potential
donors comes up on Monday in Georgetown, right outside of Washington.
Now this has even better and better. The foundation that's
(14:37):
going to create the library, because that's how way it works.
Told the IRS it specs to bring in eleven point
three million dollars by the end of twenty twenty seven.
Eleven million dollars. I wanted to keep that figure in
your mind while I go through this. Biden's aides say
they want to raise two hundred million dollars, So keep
(15:00):
that in mind. They have eleven million dollars right now,
expecting to have eleven million dollars by twenty twenty seven.
Speaker 1 (15:11):
The AID say we need two hundred million dollars.
Speaker 2 (15:16):
Well, there's so little money relative to a foundation relative
to a library. Presidential library discussions are underway about consolidating
a potential library with pre existing Biden institutions at the
University of Delaware, where he comes from, and that's where
he is going to put the library maybe, and that
(15:39):
has so little money and in reality has so little
chance of actually being built that it's probably have to
take advantage of the millions of dollars that the university
has and has already raised to build a Biden Hall
within the university. And when I'm talking about a Biden
(16:00):
I mean a Biden Hall, just the hallway that they're
going to build. Well, okay, maybe I exaggerate a little
bit on that one, but let me tell you about
the political aspects of this. Biden not only was not
my favorite president. Boy, what a choice you had Biden
or Trump on that one, you know, and before that
(16:22):
you had Hillary and Trump and just crazy Kamala Harris.
Speaker 1 (16:28):
I mean, give me a break.
Speaker 2 (16:29):
So Biden, who I as well as other people look
at Biden as having so much hubris that, as he
declared when he won, he was going to be a
transitional president. He was going to be one term and
turn over the party leadership and theoretically the president to
(16:49):
someone younger. And then he got to the point where,
oh no, this is Biden saying, I'm the only one
that can save America from Donald Trump. I am the
leader that is going to do this. The Hubris is
so insane, it's it's just nuts. So here's this, mister Hubris, right,
(17:11):
this is President Hubris now trying to go.
Speaker 1 (17:15):
To some contributors.
Speaker 2 (17:18):
Who we would normally go to to get this library
thing moving, because every president wants a library. I mean,
presidential libraries are sort of the thing. How do you
get a presidential library? Keeping in mind, you've got Obama,
You've got George w I mean, you have all the
presidential libraries out there. They cost hundreds of millions of dollars.
(17:40):
Biden has no money. His foundation that is building the
library says it'll have eleven million dollars by the end
of twenty twenty seven. So to give you an idea,
Obama has raised one point two billion dollars for his
presidential libry, which is under construction. Then you have Clinton,
(18:04):
who his is in the hundreds of millions of dollars.
President Trump who is going to build his in Miami,
which I don't understand why because he comes out of
New York.
Speaker 1 (18:15):
But okay, so be it.
Speaker 2 (18:17):
I'll bet you there are a couple of pissed off
New Yorkers that are not very happy with that. But
President Trump has already raised more than nine hundred and
fifty million dollars or wants to raise more than nine
hundred and fifty million dollars before he leaves office, which
he will do instantly. I mean with his donors, there's
no question about it. And that's still going to be
(18:39):
two hundred million short. So his is going to come
in at about one point one billion dollars. Biden is
going to have eleven million dollars by the end of
twenty twenty seven.
Speaker 1 (18:50):
So what are they going to do?
Speaker 2 (18:53):
Well, They've gone to donors already and most of them
said they haven't even contacted. The ones that were contacted
for this story, and this came out of the I
think Wall Street Journal and other Democratic donors said that
even if Biden did ask them, they're not going to
give any money because they're focused on President Trump or
(19:14):
just pissed off by Biden's term in office.
Speaker 1 (19:16):
They just weren't treated well.
Speaker 2 (19:19):
John Morgan, who's a Democratic donor, big time, one of
Biden's main top bundlers or raisers of money, said he
wouldn't give a penny because of the way he was
treated by Biden's staff. He also said the Biden staff
they ruined any type of good library for him. He's
lucky to have a bookmobile at the end of all this,
(19:43):
and so this is what I love.
Speaker 1 (19:44):
So they go to the Foundation.
Speaker 2 (19:47):
To get a comment on all this, and the Foundation
says it delayed holding fundraisers until now to allow for
intensive research, including visits to other presidential libraries. Now, I
don't know if you've ever gone to the Reagan Library
or the Nixon Library, which are wonderful. It takes about
(20:08):
an afternoon to go through them. That's what it takes.
And so coming out and doing extensive research, okay, we've
been doing that for years.
Speaker 1 (20:17):
Good for you.
Speaker 2 (20:19):
Also, Biden has been you know, he's been distracted. He's
got the radiation therapy, et cetera. But the bottom line is,
and this is where I said, there's you can look
at it different ways, good news or bad news, and
that is people former presidents who are raising tons and
(20:40):
tons of money. They're going to donors, and the argument
is they are beholden to those donors not only throughout
the presidency, but even afterwards using their influence. Biden has
the least number of donors of any of these presidents,
and his argument, or people would argue in his favors,
say that's right, he is beholden to far fewer people.
(21:04):
In the meantime, we have a lot of space on
the fifth floor here at KFI, and you are going
to see some Biden people come around because the few
thousand square feet, wouldn't it be wild? The Joseph Biden
Presidential Library on the fifth floor of where iHeart has
(21:28):
extra space.
Speaker 1 (21:30):
Pretty impressive.
Speaker 2 (21:31):
This is KFI AM six y f five.
Speaker 1 (21:36):
You've been listening to the Bill Handle Show.
Speaker 2 (21:38):
Catch my show Monday through Friday six am to nine am,
and anytime on demand on the iHeartRadio app.
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