September 25, 2025 • 24 mins
Join Jim and Greg for the Thursday 3 Martini Lunch as they cheer upward revisions in the economy, scold the Democrat running for governor in Virginia for encouraging supporters to let their rage fuel them, and Treasury Secretary Scott Bessent cutting through the identity politics clutter of the Kamala Harris-Pete Buttigieg controversy.
First, they cheer the news that the U.S. economy expanded at an annual rate of 3.8 percent in the second quarter of 2025, an upward revision from the earlier 3.3 percent estimate. Surging consumer spending drove the gains. Can we keep it going?
Next, they hammer Virginia Democratic gubernatorial nominee Abigail Spanberger for urging her supporters to “let your rage fuel you.” While Spanberger claims it was a call for political engagement, the rhetoric comes off as tone deaf in the wake of recent violence. They also update listeners on the latest developments from Wednesday’s shootings at the ICE detention facility in Dallas.
Finally, they laugh as Treasury Secretary Scott Bessent cuts through the noise surrounding Harris’s decision not to pick Pete Buttigieg as her running mate. While Democrats and the media obsess over identity politics, Bessent argues that both Harris and Buttigieg failed miserably in their past roles and would have been disastrous as president and vice president.
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First, they cheer the news that the U.S. economy expanded at an annual rate of 3.8 percent in the second quarter of 2025, an upward revision from the earlier 3.3 percent estimate. Surging consumer spending drove the gains. Can we keep it going?
Next, they hammer Virginia Democratic gubernatorial nominee Abigail Spanberger for urging her supporters to “let your rage fuel you.” While Spanberger claims it was a call for political engagement, the rhetoric comes off as tone deaf in the wake of recent violence. They also update listeners on the latest developments from Wednesday’s shootings at the ICE detention facility in Dallas.
Finally, they laugh as Treasury Secretary Scott Bessent cuts through the noise surrounding Harris’s decision not to pick Pete Buttigieg as her running mate. While Democrats and the media obsess over identity politics, Bessent argues that both Harris and Buttigieg failed miserably in their past roles and would have been disastrous as president and vice president.
Please visit our great sponsors:
Formulated for men, Caldera Lab upgrades your skincare routine. Visit https://CalderaLab.com/3ML and
use code 3ML for 20% off your first order.
Sponsored by Quo, formerly known as Open Phone: Get started free and save 20% on your first 6 months
and port your existing numbers at no extra charge—no missed calls, no missed customers. Visit
https://Quo.com/3ML
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Welcome to the three Martini Lunch.
Speaker 2 (00:04):
Grab a stool next to Greg Corumbus of Radio America
and Jim Garrity of National Review.
Speaker 3 (00:10):
Free Martini's coming up.
Speaker 4 (00:13):
So glad you're with us for the Thursday edition of
the three teeny Lunch. Jim, we are getting closer to
the weekend, but we have no shortage of stories that
we definitely need to talk about. Today, we'll be talking
about the latest twist in the Kamala Harris Pete Boodhage
edge story, and it actually comes from a Trump Cabinet official.
We'll also take a closer look at what we've learned
(00:37):
over the past twenty four hours from the Dallas ice shootings.
But we begin with good economic news. And given the
recent jobs numbers and some other economic indicators and the
FED feeling comfortable lowering interest rates, people were starting to
say that the economy is slowing down, and there may
still be some indicators that that's the case. But when
(00:57):
it comes to second quarter GDP, the revisions just keep
getting better. Here's Rick Santelli from CNBC.
Speaker 5 (01:03):
Now on the GDP side. This is our third time
around the block on Q two, and we see a
really solid revision three point eight percent. I'm a bit shocked,
to be honest. Usually the revisions you get to second
and third become smaller and smaller. So three point eight
percent would be the best quarter going back to and
we have to go back aways here to four point
(01:26):
four and that was the third quarter of twenty three.
Now it is important to point out that if you
look at the first quarter final down half of percent,
there's a balance there, but the balance is moving in
favor of momentum is moving in favor for better growth.
Speaker 4 (01:39):
So then over at CBS, it says consumer spending buoid
the economy in the second quarter, rising at a two
point five percent pace, up from zero point six in
the first quarter and well above the one point six
percent the government had previously estimated. So if the economy
is slowing, consumers are not feeling it right now. Also,
of course, we had the dip in the first quarter
(02:00):
as a result of all those imports that countries are
sending here prior to the terrorists taking effect, and so
this is kind of the bounce back. Part of the
reason it's up is due to fewer imports in the
second quarter. But it's good to still see consumer confidence.
We'll see if they're still there a quarter or two
from now, but right now pretty strong.
Speaker 1 (02:16):
Yeah.
Speaker 3 (02:17):
Yeah, As we say on this podcast consistently, when the
economic news is good, we're going to celebrate it, no
matter who the president is. When it's bad, we're gonna
lament it, no matter who the president is. I think
you look at the overall state of the economy, it's
probably not where Republicans would like it to be heading
into a midterm election year, you know, roaring all the
numbers going in the right direction. But it's also not
(02:38):
as bad as Democrats would like it to be. And
it's certainly not going to be easy to say with
numbers like this, Oh the US is heading into a recession.
That does not appear to be the case now, you know.
Is the unemployment rate kind of inching up one tenth
of a percentage point some months?
Speaker 1 (02:52):
Yeah? Not great?
Speaker 3 (02:54):
Are you starting to see? You know, the inflation hotter
than we'd like to be. Yes, still well below the
nine percent we saw during the Biden years, but you know,
you'd the Fed wants it below two percent, and it
never you know, we just can't seem to get it
to that threshold. But look, you know, any revision upward
in GDP numbers is good. Yeah, you kind of wish
the one that was in the first quarter wasn't going
down half a percentage point. But as Santelli says, but
(03:17):
isn't it great to see ric Centelli not having to
yell because everyone behind him at the Chicago there's stay.
Speaker 1 (03:22):
Everyone quiet down.
Speaker 3 (03:24):
Santelly's on TV, but he you know, I think he
makes the assessment like, yes, it's good to see those
numbers going up. There are a bunch of us who
still have, you know, serious qualms with the tariffs. But
you can't say that there have been some sort of
you know, economic disaster. Yet you could argue that maybe
we're starting to see cumulative effect on people's buying habits
(03:44):
and stuff like that. I think one of the more
interesting analyzes I saw of the economy so far this
year is making the argument that it's harder for Americans
to be mobile. Home prices are high, rents are high.
People are having a hard time moving from one place
to another for an economic opportunity. You're seeing less people
jumping from job to job, you know, the higher even
if the total number of jobs open, which is going
(04:06):
down a little bit. People are moving less. And one
of the aspects of our economy, it's one of its strengths,
is the dynamism. Right things are, Jobs are being created,
companies are being started, expansions occurring, you know, things are
there's always a great churn, there's a great deal of change,
and it appears like that's slowing down a little bit
over the course of the year. Not a great sign,
but again not anything that you know, I think it's
(04:28):
worth hitting the panic button over and I think it's not.
You know, if Democrats at this point, if you run
around trying to say, oh, look at this recession, I
don't think you're going to find people really buying into
that effect.
Speaker 1 (04:37):
The numbers just aren't there to support that.
Speaker 4 (04:39):
You had an interesting phrase there. It's not as bad
as the Democrats would like it to be. We got
we have gotten to the point where the political parties,
depending on who's in the White House, they're up, but
they're not up as much as they should be. Or
you know, that's the greatest job support we've ever seen.
Speaker 3 (04:55):
If there's a recession, Democrats will argue this is all
Trump's fault, no matter what the actual factors are. And
that's you know, this has been the state of politics
for a very long time. So whether or not Democrats
would like to admit that they're rooting for an economic downturn,
I think they would concede that a roaring economy in
twenty twenty six would make their hopes of big midterm
wins much tougher.
Speaker 4 (05:15):
Although, as we've just learned, and as you foreshadowed yesterday,
OMB is suggesting mass firings of federal workers if we
actually do shut down the government. So Democrats, you might
want to rethink your strategy.
Speaker 1 (05:26):
There, Greg, if only someone had worn them.
Speaker 4 (05:29):
Yes, yes, so you got to listen to the three
martini lunch.
Speaker 1 (05:32):
Well.
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No missed calls, no missed customers. All right, Jim, kind
of a double fisted second martini here, we'll do a
little bit of an update on the ice shootings in
Dallas yesterday, which we just kind of had the preliminary
information to talk about for a few minutes yesterday. But
(07:21):
one of the things that has been said, especially since
the murder of Charlie Kirk, is yes, the person who
pulled the trigger is the one responsible for the murder.
But let's try to tone it down. Let's not act
like our opponents are all Nazis and everything like that.
Let's talk about the issues, have the debates without inflaming everything.
Every debate.
Speaker 1 (07:42):
Well.
Speaker 4 (07:42):
Abigail Spanberger, the former congresswoman, is the Democratic nominee for
governor in Virginia. She is the favorite to win the
Virginia governor's race this year. At this point, she has
not gotten that memo. Now, it's important to point out
here that she's talking about letting your race age fuel
your political action, not violent action. But Jim, after what
(08:05):
we've seen, especially in the past few weeks, you'd think
a rhetoric change might be in order.
Speaker 6 (08:10):
Here.
Speaker 3 (08:10):
Here's what she said, let your rage feel you. Let's
your rage do you?
Speaker 1 (08:18):
And it was like a switch flip. Yeah, you know that.
Speaker 3 (08:23):
Sometimes a page and the things that you think are wrong.
There's things that we want to improve, the things we
want to make better, the things that we know are right,
that we want to see en Richmond or that we.
Speaker 1 (08:37):
Want to see pushed back aga in Washington.
Speaker 3 (08:41):
We have the ability here in Virginia to ensure that
we set the stage for what's to come. We set
an example for the rest of the country. And so
anytime you think you might want to turn off the
television or you think it might just be too much,
let it fuel you.
Speaker 4 (08:56):
I think Obama's annoying as his line was, probably had
it more accurate, where he would always go out there
stumping for cannons and.
Speaker 2 (09:03):
Going don't boom bote.
Speaker 4 (09:05):
That comes across a little bit better than let your
rage feel you. So Abigail Spanberg, I'm sure he'll get
no gree from the mainstream media, but she needs to
do better.
Speaker 3 (09:15):
Look, I know the point she was trying to make,
and you're speaking off the cuffs. Sometimes things don't come
out quite right. But at a time like this, we've
just seen assassinations We've just seen the guy shooting at
the ABC affiliate out in Sacramento. We just saw the
guy shooting at the ICE van in Dallas yesterday. Is
is not raging an option? Could we just kind of
(09:37):
acknowledge that maybe you know, anger, okay, fine, but rage,
you know the sort of thing that you know, the veins,
bulging face turning red, Bruce Banner turning into the Hulk
me on the Beltway, or thinking about Adam get like
in the end, like I think we don't get regnything.
Rage can be pretty destructive. I know what she's trying
(09:59):
to get at. It didn't come out quite right, and
you know, it is just this rather frustrating state of things.
The theme of today's entire Morning Jolt is that we
don't have any figure like Abraham Lincoln willing to call
declaring we must not be enemies and that we should
try to appeal to the better angels of our nature. Now,
admittedly he said that in his first inaugural and then
(10:21):
we've properly fought a civil war. So yes, it's not
like Lincoln's words, by themselves healed the nation. The very
first thing that the Democratic congressman who represents Dallas, where
that ICE facility was was that he his first statement
is that he did not trust the FBI to investigate it,
and that he was the implicitly saying he did not
(10:41):
believe the tweet put out by FBI Director Cash Pattel
saying that anti ice had been written on unused bullets,
and it just struck me like, not great. We need
to be able to trust investigators. It's not good to
have people running around with the idea, Oh, it's all
false flag, it's all you know, this is just really
harmful and corrosive to our body politic. It'd be really
(11:04):
nice if we could just come out and to say
to people like, how about not be rageful. I don't
think you could say I'm trying to calm I'm trying
to change the tone, I'm trying to calm the waters.
I'm trying to pour water on the fire instead of gasoline,
and at the same time saying to your volunteers, use
your rage. Yeah, it just doesn't, doesn't you know. There's
a contradiction there. But hey, Spemberger, maybe Spemberger's thinking about
(11:24):
the impending government shutdown, which you know, northern Virginia althose
federal garments. They love not getting paid. It's great.
Speaker 1 (11:30):
They can't wait.
Speaker 4 (11:30):
Let's talk real quickly about what's the latest in Dallas.
This is a tweet from FBI Director Cash Patel today.
He says some of the latest developments are the purp
downloaded a document titled Dallas County Office of Homeland Security
and Emergency Management, containing a list of DHS facilities. He
conducted multiple searches of ballistics and the quote Charlie Kirk
(11:52):
shot video from September twenty third and twenty fourth. He
searched apps that track the presence of ICE agents. One
of the handwritten notes were covered red. Hopefully this will
give ICE agents real terror to think. Quote is there
a sniper with AP rounds on that roof? Unquote? And
further accumulated evidence to this point indicates a high degree
of pre attack planning. And so the people yesterday who
(12:15):
were saying, wow, but he shot the migrants, he couldn't
have been n anti Ice, Well, he just wasn't a
very good shot. So Jim, once again, the puzzle pieces
seem to be coming together pretty clearly here.
Speaker 3 (12:27):
Yeah, and I'm struck by how much when this happens,
folks feel this need to insists it must have been
somebody on the other side. False flag, you know, it's
got to be faked evidence and all that stuff. Besides
the local congressman. You know, all over Blue Sky you
saw these kinds of comments and you can find the
(12:47):
same thing on x And it just is there's something
strange about the fact that whenever you know, the idea
that somebody in the left would believe, I've just you know,
Ice is the enemy. You know, we've had Ice referred
to as Nazis, jack booted thugs, fatus over and over again,
and not just by you know, Twitter randos. We're talking
(13:07):
about you know, members of the Senate, members of the House,
you know, mayors, members of city councils. You know, it's
fairly common. And like we know, this country did not
argue with the Nazis. We went over there and you know,
like fought them in World War Two. Right, So people,
if you genuinely believe it's somebody had Nazis the idea like, well,
I probably should take up arms against them. I probably should.
(13:29):
You know, there is a twisted logic to that, because
the problem is that you know, you can disagree with
our immigration policies. You can say I do not support
what ICE is doing. That doesn't make them Nazis. And
you know, I guess a lot of people, a lot
of Democratic officials are irate about them wearing masks. Greg,
(13:50):
I just don't understand why so many Democratic lawmakers want
ICE agents to be vulnerable to COVID. It's almost like
they've not listened to Jennifer Gardner and Ben Affleck's daughter.
I think that when when both Batman and Electra tell
you to worry about Longo on COVID, you know.
Speaker 1 (14:06):
It's time to take that seriously.
Speaker 3 (14:08):
Someone talking cheek though, Like when when the guy says
I want everybody in ICE to wonder if there's a
sniper on that roof, you know, terrible as his is,
I think he probably did. Like I imagine, if you
work for ICE right now, you're probably sitting here thinking,
is there some other nutjob out there who has a
gun and who's going to try to take shots at
me today because he doesn't want us doing our jobs.
They just now in entirely rational fear. I'm sure they're
(14:30):
still going to These guys are still going to show
up to work. You know, they're probably gonna be wearing
their bullet provests. But you know, there's kind of this
recognition like it is now an additional risk in the
lives of these guys who are federal law enforcement officials.
Unbelievably infuriating, And I you know, my conclusion of the
jolt was like, you can't solve a problem if you
don't see it clearly. And this reflexive insistence that somebody
(14:51):
on the left committing an act of violence must really
have been on the right all along is is just
it's putting blinders on. It's a refusal to recognize what's
going on, and it makes it much harder to reach
a point where we don't have this happening on a
disturbingly regular basis.
Speaker 4 (15:04):
Jim, I'm all about free speech. I'm all about freedom
of information. Do we really need those apps that track
where ice agents are? That seems like a really bad.
Speaker 3 (15:12):
Idea, Greg, I can't tell where my kids are. If
I can't do that for my kids, I don't understand why.
You know, some guy out there should know exactly where
the ice van is. Also, isn't that the sort of
thing like every season of twenty four somebody had one
of those things like. It was always like, how are
they getting this information? So you know, maybe where ice
vans are is not the sort of thing that should
be you know, traceable on public apps and things like that.
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Speaker 4 (17:24):
All right, Jim, on to our final martini. Now a
bit crazy bit good here. We talked last week about
Kamala Harris's revelation that she didn't really want to pick
Tim Walls. She definitely didn't want to.
Speaker 1 (17:36):
Pick Josh Shapiro.
Speaker 4 (17:37):
If she could have picked anyone, all things equal, it
would have been Pete Bootage Edge. However, she said, we're
already asking a lot of America. We're asking them to
accept a black woman who's married to a Jewish guy.
Can we really ask him to accept a gay running
mate as well?
Speaker 1 (17:55):
Well?
Speaker 4 (17:56):
Scott Bessant is the Secretary of the Treasury. He is
also so gay. And of course the media, because you know,
they just think of obvious things. Oh you're black, there's
a black issue in the news. Oh you're this. Let
me talk to Jim Garritty. There's a ride in Ireland.
Why don't we talk to you about that? Scott Vessen,
there's a controversy about Buddha Judge being gay on the ticket.
(18:18):
What do you think about this?
Speaker 3 (18:21):
She wouldn't take on Pete Boota Judge because he was gay,
because she said it was a risk to have a
running mate who was a gay man.
Speaker 2 (18:29):
Your reaction.
Speaker 1 (18:31):
Three things, Maria.
Speaker 6 (18:32):
First, it shows her emphasis on identity politics, and the
American people have moved on too. It shows how low
regard she holds the American people that they you know,
she was just a terrible candidate. And three, you wouldn't
p pick Pete Buda Judge because he might have been
the worst transportation secretary in history. Like if I thought
(18:54):
I was left to mess at Treasury, I can tell
you your friend, my friend Sean Duppy are a great
trends inspirtation Secretary. Pete Boodhage Judge left him a mess.
The FAA is a disaster, the Amtrak, you know, anything
to do with transportation was woefully neglected over the past
four years. So you know, she judges him on his identity,
(19:17):
his sexuality. Let's look and see whether he did a
good job. Let's look on merit and I can tell
you on merit he's a failure and on merit she's
a failure.
Speaker 4 (19:27):
Let's push meritocracy, let the best people run. And it's
pretty clear. And we've talked about this before with buddhage Edge,
whether it's mayor whether it's Transportation secretary, there is not
an impressive record to go on there. And Kamala Harris
pretty much the same thing throughout her career.
Speaker 3 (19:41):
So there's a part of me that is kind of
cringing at the Scott Bessett, you're gay. What do you
think tone of that question? But I think Bessett had
a really good answer there, and I actually kind of
stepped back on this point. How many great have you
seen anybody in Maga, anybody who's ordinarily a Trump supporter,
anybody in the Republican Party object to be being the
(20:04):
Secretary of the Treasury because he's gay.
Speaker 4 (20:06):
I don't think anybody in the Senate a post and
there's probably more concerned that he worked for over a
decade with Soros back then.
Speaker 3 (20:11):
Yeah, other stuff. Sure, But has anybody said, well, we
can't have a gay man running the Department of the Treasury?
You know, I have yet to encounter that. So this
idea that America is so wildly homophobic, I guess in
the Kamala Harris you know worldview Vice President pe Buddhajeedge
would be too much for the country to accept. We're
(20:32):
just too deeply homophobic to ever accept that. But Scott Bessett,
Treasury Secretary, everybody kind of yawns. Nobody, nobody gives a
hoot about You know, there's a contradiction there that I
think the Harris worldview has not wanted to confront. Second
of all, I said we were going to do site
gags and are still mostly audio podcast. But I have
my copy of one hundred and seven Days, Greg. I'm
(20:54):
this far into it. I'm going to write the review
for National Review.
Speaker 1 (20:58):
Folks, this book is still there's just so much fun.
Speaker 3 (21:02):
So on page sixty two is when she gets into
the section about Pete Buddha jetech. The only reference to
Pete Buddha Jesus record at the Secretary of Secretary of
Transportation is quote Harvard grad multi lingual Rhodes scholar. By
the way, the everybody in the US government has translators.
So you know the fact that he's like, that's nice,
(21:22):
doesn't really need it. But you, okay, business consultant. Where
was he doing that? Oh, you don't want to mention McKinsey, Okay,
just making sure naval intelligence officer twice elected, midwestern mayor, yes,
fair least small town, that's okay.
Speaker 1 (21:34):
Cabinet secretary. It simply mentions doesn't even say which department.
Speaker 3 (21:38):
Right, which really feels like they've just taken his resume
and just just sand it away anything that could be
you know, but so like there's that, and so she
but then she says, you know, he would have been
the ideal partner if I were a straight white man.
We were already asking a lot of America to expect
to accept a woman, a black woman, a black woman
married to a Jewish man. Part of me wanted to say,
(21:59):
screw it, let's just do it, but knowing what was
at stake, it was too big of a risk. Now,
as Boodage said, she never said any of this to him.
If you're gonna write this in your campaign memoir, don't
you feel like you owe mayor Pete a phone call?
Don't you feel like letting him know so he doesn't
learn this from the excerpts getting released that you know,
(22:19):
oh hey, this is why I didn't pick you. I
just that just kind of feels weird and off putting
and kind of unfair to Buddha Jedge. I'm enjoying reading
this book, I am enjoying writing this review.
Speaker 1 (22:32):
I actually kind of feel like the excerpts are not
really doing a justice.
Speaker 3 (22:35):
I think that the she like, for example, she says, oh,
I never saw Biden look as bad as it on
that debate stage, Greg, and then she follows it with
a lot of anecdotes of Biden looking and sounding bad.
I think there's like some passive aggressive you know, I
can't acknowledge that he was in really rough shape. But
I'm gonna write enough story, you know, I'm gonna give
you enough stories of him sounding in really rough shape.
(22:55):
She's singing a different tune on the her report than
she did afterwards, so.
Speaker 1 (22:59):
It's it's gonna be stay tuned. I will let I
will talk about.
Speaker 3 (23:02):
It when the review runs. But yeah, good for Scott Bessett,
and good for just kind of recognizing, Hey, present yourself
as you are and trust the American people to pick
the best person for the job. And that clearly is
not what Kamala Harris did in these circumstances.
Speaker 4 (23:16):
And for the record, I'm more offended that she thought
Pete Boodh Jedge would be a good vice president based
on his career at the Transportation Department and in South Bend.
There's no indication that he would be a success if
he wasn't a success earlier on. But as someone who
didn't exactly shine in the role, of vice president. I'm
not surprised that she might not be the most clued
(23:36):
in on who would be a good vice president. So anyway, Jim,
enjoy your reading better you than me, and I'll see
it tomorrow.
Speaker 3 (23:42):
Oh, Greg, want to let you know you say she
didn't shine a vice president, honest to god. Quote from
the book quote the vice president's role will be as
little or as much as the sitting president desires. That
can be a hard pill to swallow.
Speaker 1 (23:55):
Unquote.
Speaker 3 (23:56):
Again, a lot of passive aggressive stuff about Biden. Here
a happy Thursday, everybody, see tomorrow.
Speaker 4 (24:02):
Jim Garretty, National Review. I'm Greg Corumbus of Radio America.
Thanks so much for being with us today. Please be
sure to subscribe to the Three Martini Lunch Podcast if
you don't already, and tell your friends to listen as well.
We'd love to have them along for the ride. Thanks
also for your five star ratings and your kind reviews.
Please keep those coming. Get us on your home devices.
All you have to say is play Three Martini Lunch Podcast,
follow us both on X. He's at Jim Garrity, I'm
(24:24):
at Greg Corumbus. Have a great Thursday. Join us again
Friday for the three martini lunch
Welcome to the three Martini Lunch.
Speaker 2 (00:04):
Grab a stool next to Greg Corumbus of Radio America
and Jim Garrity of National Review.
Speaker 3 (00:10):
Free Martini's coming up.
Speaker 4 (00:13):
So glad you're with us for the Thursday edition of
the three teeny Lunch. Jim, we are getting closer to
the weekend, but we have no shortage of stories that
we definitely need to talk about. Today, we'll be talking
about the latest twist in the Kamala Harris Pete Boodhage
edge story, and it actually comes from a Trump Cabinet official.
We'll also take a closer look at what we've learned
(00:37):
over the past twenty four hours from the Dallas ice shootings.
But we begin with good economic news. And given the
recent jobs numbers and some other economic indicators and the
FED feeling comfortable lowering interest rates, people were starting to
say that the economy is slowing down, and there may
still be some indicators that that's the case. But when
(00:57):
it comes to second quarter GDP, the revisions just keep
getting better. Here's Rick Santelli from CNBC.
Speaker 5 (01:03):
Now on the GDP side. This is our third time
around the block on Q two, and we see a
really solid revision three point eight percent. I'm a bit shocked,
to be honest. Usually the revisions you get to second
and third become smaller and smaller. So three point eight
percent would be the best quarter going back to and
we have to go back aways here to four point
(01:26):
four and that was the third quarter of twenty three.
Now it is important to point out that if you
look at the first quarter final down half of percent,
there's a balance there, but the balance is moving in
favor of momentum is moving in favor for better growth.
Speaker 4 (01:39):
So then over at CBS, it says consumer spending buoid
the economy in the second quarter, rising at a two
point five percent pace, up from zero point six in
the first quarter and well above the one point six
percent the government had previously estimated. So if the economy
is slowing, consumers are not feeling it right now. Also,
of course, we had the dip in the first quarter
(02:00):
as a result of all those imports that countries are
sending here prior to the terrorists taking effect, and so
this is kind of the bounce back. Part of the
reason it's up is due to fewer imports in the
second quarter. But it's good to still see consumer confidence.
We'll see if they're still there a quarter or two
from now, but right now pretty strong.
Speaker 1 (02:16):
Yeah.
Speaker 3 (02:17):
Yeah, As we say on this podcast consistently, when the
economic news is good, we're going to celebrate it, no
matter who the president is. When it's bad, we're gonna
lament it, no matter who the president is. I think
you look at the overall state of the economy, it's
probably not where Republicans would like it to be heading
into a midterm election year, you know, roaring all the
numbers going in the right direction. But it's also not
(02:38):
as bad as Democrats would like it to be. And
it's certainly not going to be easy to say with
numbers like this, Oh the US is heading into a recession.
That does not appear to be the case now, you know.
Is the unemployment rate kind of inching up one tenth
of a percentage point some months?
Speaker 1 (02:52):
Yeah? Not great?
Speaker 3 (02:54):
Are you starting to see? You know, the inflation hotter
than we'd like to be. Yes, still well below the
nine percent we saw during the Biden years, but you know,
you'd the Fed wants it below two percent, and it
never you know, we just can't seem to get it
to that threshold. But look, you know, any revision upward
in GDP numbers is good. Yeah, you kind of wish
the one that was in the first quarter wasn't going
down half a percentage point. But as Santelli says, but
(03:17):
isn't it great to see ric Centelli not having to
yell because everyone behind him at the Chicago there's stay.
Speaker 1 (03:22):
Everyone quiet down.
Speaker 3 (03:24):
Santelly's on TV, but he you know, I think he
makes the assessment like, yes, it's good to see those
numbers going up. There are a bunch of us who
still have, you know, serious qualms with the tariffs. But
you can't say that there have been some sort of
you know, economic disaster. Yet you could argue that maybe
we're starting to see cumulative effect on people's buying habits
(03:44):
and stuff like that. I think one of the more
interesting analyzes I saw of the economy so far this
year is making the argument that it's harder for Americans
to be mobile. Home prices are high, rents are high.
People are having a hard time moving from one place
to another for an economic opportunity. You're seeing less people
jumping from job to job, you know, the higher even
if the total number of jobs open, which is going
(04:06):
down a little bit. People are moving less. And one
of the aspects of our economy, it's one of its strengths,
is the dynamism. Right things are, Jobs are being created,
companies are being started, expansions occurring, you know, things are
there's always a great churn, there's a great deal of change,
and it appears like that's slowing down a little bit
over the course of the year. Not a great sign,
but again not anything that you know, I think it's
(04:28):
worth hitting the panic button over and I think it's not.
You know, if Democrats at this point, if you run
around trying to say, oh, look at this recession, I
don't think you're going to find people really buying into
that effect.
Speaker 1 (04:37):
The numbers just aren't there to support that.
Speaker 4 (04:39):
You had an interesting phrase there. It's not as bad
as the Democrats would like it to be. We got
we have gotten to the point where the political parties,
depending on who's in the White House, they're up, but
they're not up as much as they should be. Or
you know, that's the greatest job support we've ever seen.
Speaker 3 (04:55):
If there's a recession, Democrats will argue this is all
Trump's fault, no matter what the actual factors are. And
that's you know, this has been the state of politics
for a very long time. So whether or not Democrats
would like to admit that they're rooting for an economic downturn,
I think they would concede that a roaring economy in
twenty twenty six would make their hopes of big midterm
wins much tougher.
Speaker 4 (05:15):
Although, as we've just learned, and as you foreshadowed yesterday,
OMB is suggesting mass firings of federal workers if we
actually do shut down the government. So Democrats, you might
want to rethink your strategy.
Speaker 1 (05:26):
There, Greg, if only someone had worn them.
Speaker 4 (05:29):
Yes, yes, so you got to listen to the three
martini lunch.
Speaker 1 (05:32):
Well.
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No missed calls, no missed customers. All right, Jim, kind
of a double fisted second martini here, we'll do a
little bit of an update on the ice shootings in
Dallas yesterday, which we just kind of had the preliminary
information to talk about for a few minutes yesterday. But
(07:21):
one of the things that has been said, especially since
the murder of Charlie Kirk, is yes, the person who
pulled the trigger is the one responsible for the murder.
But let's try to tone it down. Let's not act
like our opponents are all Nazis and everything like that.
Let's talk about the issues, have the debates without inflaming everything.
Every debate.
Speaker 1 (07:42):
Well.
Speaker 4 (07:42):
Abigail Spanberger, the former congresswoman, is the Democratic nominee for
governor in Virginia. She is the favorite to win the
Virginia governor's race this year. At this point, she has
not gotten that memo. Now, it's important to point out
here that she's talking about letting your race age fuel
your political action, not violent action. But Jim, after what
(08:05):
we've seen, especially in the past few weeks, you'd think
a rhetoric change might be in order.
Speaker 6 (08:10):
Here.
Speaker 3 (08:10):
Here's what she said, let your rage feel you. Let's
your rage do you?
Speaker 1 (08:18):
And it was like a switch flip. Yeah, you know that.
Speaker 3 (08:23):
Sometimes a page and the things that you think are wrong.
There's things that we want to improve, the things we
want to make better, the things that we know are right,
that we want to see en Richmond or that we.
Speaker 1 (08:37):
Want to see pushed back aga in Washington.
Speaker 3 (08:41):
We have the ability here in Virginia to ensure that
we set the stage for what's to come. We set
an example for the rest of the country. And so
anytime you think you might want to turn off the
television or you think it might just be too much,
let it fuel you.
Speaker 4 (08:56):
I think Obama's annoying as his line was, probably had
it more accurate, where he would always go out there
stumping for cannons and.
Speaker 2 (09:03):
Going don't boom bote.
Speaker 4 (09:05):
That comes across a little bit better than let your
rage feel you. So Abigail Spanberg, I'm sure he'll get
no gree from the mainstream media, but she needs to
do better.
Speaker 3 (09:15):
Look, I know the point she was trying to make,
and you're speaking off the cuffs. Sometimes things don't come
out quite right. But at a time like this, we've
just seen assassinations We've just seen the guy shooting at
the ABC affiliate out in Sacramento. We just saw the
guy shooting at the ICE van in Dallas yesterday. Is
is not raging an option? Could we just kind of
(09:37):
acknowledge that maybe you know, anger, okay, fine, but rage,
you know the sort of thing that you know, the veins,
bulging face turning red, Bruce Banner turning into the Hulk
me on the Beltway, or thinking about Adam get like
in the end, like I think we don't get regnything.
Rage can be pretty destructive. I know what she's trying
(09:59):
to get at. It didn't come out quite right, and
you know, it is just this rather frustrating state of things.
The theme of today's entire Morning Jolt is that we
don't have any figure like Abraham Lincoln willing to call
declaring we must not be enemies and that we should
try to appeal to the better angels of our nature. Now,
admittedly he said that in his first inaugural and then
(10:21):
we've properly fought a civil war. So yes, it's not
like Lincoln's words, by themselves healed the nation. The very
first thing that the Democratic congressman who represents Dallas, where
that ICE facility was was that he his first statement
is that he did not trust the FBI to investigate it,
and that he was the implicitly saying he did not
(10:41):
believe the tweet put out by FBI Director Cash Pattel
saying that anti ice had been written on unused bullets,
and it just struck me like, not great. We need
to be able to trust investigators. It's not good to
have people running around with the idea, Oh, it's all
false flag, it's all you know, this is just really
harmful and corrosive to our body politic. It'd be really
(11:04):
nice if we could just come out and to say
to people like, how about not be rageful. I don't
think you could say I'm trying to calm I'm trying
to change the tone, I'm trying to calm the waters.
I'm trying to pour water on the fire instead of gasoline,
and at the same time saying to your volunteers, use
your rage. Yeah, it just doesn't, doesn't you know. There's
a contradiction there. But hey, Spemberger, maybe Spemberger's thinking about
(11:24):
the impending government shutdown, which you know, northern Virginia althose
federal garments. They love not getting paid. It's great.
Speaker 1 (11:30):
They can't wait.
Speaker 4 (11:30):
Let's talk real quickly about what's the latest in Dallas.
This is a tweet from FBI Director Cash Patel today.
He says some of the latest developments are the purp
downloaded a document titled Dallas County Office of Homeland Security
and Emergency Management, containing a list of DHS facilities. He
conducted multiple searches of ballistics and the quote Charlie Kirk
(11:52):
shot video from September twenty third and twenty fourth. He
searched apps that track the presence of ICE agents. One
of the handwritten notes were covered red. Hopefully this will
give ICE agents real terror to think. Quote is there
a sniper with AP rounds on that roof? Unquote? And
further accumulated evidence to this point indicates a high degree
of pre attack planning. And so the people yesterday who
(12:15):
were saying, wow, but he shot the migrants, he couldn't
have been n anti Ice, Well, he just wasn't a
very good shot. So Jim, once again, the puzzle pieces
seem to be coming together pretty clearly here.
Speaker 3 (12:27):
Yeah, and I'm struck by how much when this happens,
folks feel this need to insists it must have been
somebody on the other side. False flag, you know, it's
got to be faked evidence and all that stuff. Besides
the local congressman. You know, all over Blue Sky you
saw these kinds of comments and you can find the
(12:47):
same thing on x And it just is there's something
strange about the fact that whenever you know, the idea
that somebody in the left would believe, I've just you know,
Ice is the enemy. You know, we've had Ice referred
to as Nazis, jack booted thugs, fatus over and over again,
and not just by you know, Twitter randos. We're talking
(13:07):
about you know, members of the Senate, members of the House,
you know, mayors, members of city councils. You know, it's
fairly common. And like we know, this country did not
argue with the Nazis. We went over there and you know,
like fought them in World War Two. Right, So people,
if you genuinely believe it's somebody had Nazis the idea like, well,
I probably should take up arms against them. I probably should.
(13:29):
You know, there is a twisted logic to that, because
the problem is that you know, you can disagree with
our immigration policies. You can say I do not support
what ICE is doing. That doesn't make them Nazis. And
you know, I guess a lot of people, a lot
of Democratic officials are irate about them wearing masks. Greg,
(13:50):
I just don't understand why so many Democratic lawmakers want
ICE agents to be vulnerable to COVID. It's almost like
they've not listened to Jennifer Gardner and Ben Affleck's daughter.
I think that when when both Batman and Electra tell
you to worry about Longo on COVID, you know.
Speaker 1 (14:06):
It's time to take that seriously.
Speaker 3 (14:08):
Someone talking cheek though, Like when when the guy says
I want everybody in ICE to wonder if there's a
sniper on that roof, you know, terrible as his is,
I think he probably did. Like I imagine, if you
work for ICE right now, you're probably sitting here thinking,
is there some other nutjob out there who has a
gun and who's going to try to take shots at
me today because he doesn't want us doing our jobs.
They just now in entirely rational fear. I'm sure they're
(14:30):
still going to These guys are still going to show
up to work. You know, they're probably gonna be wearing
their bullet provests. But you know, there's kind of this
recognition like it is now an additional risk in the
lives of these guys who are federal law enforcement officials.
Unbelievably infuriating, And I you know, my conclusion of the
jolt was like, you can't solve a problem if you
don't see it clearly. And this reflexive insistence that somebody
(14:51):
on the left committing an act of violence must really
have been on the right all along is is just
it's putting blinders on. It's a refusal to recognize what's
going on, and it makes it much harder to reach
a point where we don't have this happening on a
disturbingly regular basis.
Speaker 4 (15:04):
Jim, I'm all about free speech. I'm all about freedom
of information. Do we really need those apps that track
where ice agents are? That seems like a really bad.
Speaker 3 (15:12):
Idea, Greg, I can't tell where my kids are. If
I can't do that for my kids, I don't understand why.
You know, some guy out there should know exactly where
the ice van is. Also, isn't that the sort of
thing like every season of twenty four somebody had one
of those things like. It was always like, how are
they getting this information? So you know, maybe where ice
vans are is not the sort of thing that should
be you know, traceable on public apps and things like that.
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Speaker 4 (17:24):
All right, Jim, on to our final martini. Now a
bit crazy bit good here. We talked last week about
Kamala Harris's revelation that she didn't really want to pick
Tim Walls. She definitely didn't want to.
Speaker 1 (17:36):
Pick Josh Shapiro.
Speaker 4 (17:37):
If she could have picked anyone, all things equal, it
would have been Pete Bootage Edge. However, she said, we're
already asking a lot of America. We're asking them to
accept a black woman who's married to a Jewish guy.
Can we really ask him to accept a gay running
mate as well?
Speaker 1 (17:55):
Well?
Speaker 4 (17:56):
Scott Bessant is the Secretary of the Treasury. He is
also so gay. And of course the media, because you know,
they just think of obvious things. Oh you're black, there's
a black issue in the news. Oh you're this. Let
me talk to Jim Garritty. There's a ride in Ireland.
Why don't we talk to you about that? Scott Vessen,
there's a controversy about Buddha Judge being gay on the ticket.
(18:18):
What do you think about this?
Speaker 3 (18:21):
She wouldn't take on Pete Boota Judge because he was gay,
because she said it was a risk to have a
running mate who was a gay man.
Speaker 2 (18:29):
Your reaction.
Speaker 1 (18:31):
Three things, Maria.
Speaker 6 (18:32):
First, it shows her emphasis on identity politics, and the
American people have moved on too. It shows how low
regard she holds the American people that they you know,
she was just a terrible candidate. And three, you wouldn't
p pick Pete Buda Judge because he might have been
the worst transportation secretary in history. Like if I thought
(18:54):
I was left to mess at Treasury, I can tell
you your friend, my friend Sean Duppy are a great
trends inspirtation Secretary. Pete Boodhage Judge left him a mess.
The FAA is a disaster, the Amtrak, you know, anything
to do with transportation was woefully neglected over the past
four years. So you know, she judges him on his identity,
(19:17):
his sexuality. Let's look and see whether he did a
good job. Let's look on merit and I can tell
you on merit he's a failure and on merit she's
a failure.
Speaker 4 (19:27):
Let's push meritocracy, let the best people run. And it's
pretty clear. And we've talked about this before with buddhage Edge,
whether it's mayor whether it's Transportation secretary, there is not
an impressive record to go on there. And Kamala Harris
pretty much the same thing throughout her career.
Speaker 3 (19:41):
So there's a part of me that is kind of
cringing at the Scott Bessett, you're gay. What do you
think tone of that question? But I think Bessett had
a really good answer there, and I actually kind of
stepped back on this point. How many great have you
seen anybody in Maga, anybody who's ordinarily a Trump supporter,
anybody in the Republican Party object to be being the
(20:04):
Secretary of the Treasury because he's gay.
Speaker 4 (20:06):
I don't think anybody in the Senate a post and
there's probably more concerned that he worked for over a
decade with Soros back then.
Speaker 3 (20:11):
Yeah, other stuff. Sure, But has anybody said, well, we
can't have a gay man running the Department of the Treasury?
You know, I have yet to encounter that. So this
idea that America is so wildly homophobic, I guess in
the Kamala Harris you know worldview Vice President pe Buddhajeedge
would be too much for the country to accept. We're
(20:32):
just too deeply homophobic to ever accept that. But Scott Bessett,
Treasury Secretary, everybody kind of yawns. Nobody, nobody gives a
hoot about You know, there's a contradiction there that I
think the Harris worldview has not wanted to confront. Second
of all, I said we were going to do site
gags and are still mostly audio podcast. But I have
my copy of one hundred and seven Days, Greg. I'm
(20:54):
this far into it. I'm going to write the review
for National Review.
Speaker 1 (20:58):
Folks, this book is still there's just so much fun.
Speaker 3 (21:02):
So on page sixty two is when she gets into
the section about Pete Buddha jetech. The only reference to
Pete Buddha Jesus record at the Secretary of Secretary of
Transportation is quote Harvard grad multi lingual Rhodes scholar. By
the way, the everybody in the US government has translators.
So you know the fact that he's like, that's nice,
(21:22):
doesn't really need it. But you, okay, business consultant. Where
was he doing that? Oh, you don't want to mention McKinsey, Okay,
just making sure naval intelligence officer twice elected, midwestern mayor, yes,
fair least small town, that's okay.
Speaker 1 (21:34):
Cabinet secretary. It simply mentions doesn't even say which department.
Speaker 3 (21:38):
Right, which really feels like they've just taken his resume
and just just sand it away anything that could be
you know, but so like there's that, and so she
but then she says, you know, he would have been
the ideal partner if I were a straight white man.
We were already asking a lot of America to expect
to accept a woman, a black woman, a black woman
married to a Jewish man. Part of me wanted to say,
(21:59):
screw it, let's just do it, but knowing what was
at stake, it was too big of a risk. Now,
as Boodage said, she never said any of this to him.
If you're gonna write this in your campaign memoir, don't
you feel like you owe mayor Pete a phone call?
Don't you feel like letting him know so he doesn't
learn this from the excerpts getting released that you know,
(22:19):
oh hey, this is why I didn't pick you. I
just that just kind of feels weird and off putting
and kind of unfair to Buddha Jedge. I'm enjoying reading
this book, I am enjoying writing this review.
Speaker 1 (22:32):
I actually kind of feel like the excerpts are not
really doing a justice.
Speaker 3 (22:35):
I think that the she like, for example, she says, oh,
I never saw Biden look as bad as it on
that debate stage, Greg, and then she follows it with
a lot of anecdotes of Biden looking and sounding bad.
I think there's like some passive aggressive you know, I
can't acknowledge that he was in really rough shape. But
I'm gonna write enough story, you know, I'm gonna give
you enough stories of him sounding in really rough shape.
(22:55):
She's singing a different tune on the her report than
she did afterwards, so.
Speaker 1 (22:59):
It's it's gonna be stay tuned. I will let I
will talk about.
Speaker 3 (23:02):
It when the review runs. But yeah, good for Scott Bessett,
and good for just kind of recognizing, Hey, present yourself
as you are and trust the American people to pick
the best person for the job. And that clearly is
not what Kamala Harris did in these circumstances.
Speaker 4 (23:16):
And for the record, I'm more offended that she thought
Pete Boodh Jedge would be a good vice president based
on his career at the Transportation Department and in South Bend.
There's no indication that he would be a success if
he wasn't a success earlier on. But as someone who
didn't exactly shine in the role, of vice president. I'm
not surprised that she might not be the most clued
(23:36):
in on who would be a good vice president. So anyway, Jim,
enjoy your reading better you than me, and I'll see
it tomorrow.
Speaker 3 (23:42):
Oh, Greg, want to let you know you say she
didn't shine a vice president, honest to god. Quote from
the book quote the vice president's role will be as
little or as much as the sitting president desires. That
can be a hard pill to swallow.
Speaker 1 (23:55):
Unquote.
Speaker 3 (23:56):
Again, a lot of passive aggressive stuff about Biden. Here
a happy Thursday, everybody, see tomorrow.
Speaker 4 (24:02):
Jim Garretty, National Review. I'm Greg Corumbus of Radio America.
Thanks so much for being with us today. Please be
sure to subscribe to the Three Martini Lunch Podcast if
you don't already, and tell your friends to listen as well.
We'd love to have them along for the ride. Thanks
also for your five star ratings and your kind reviews.
Please keep those coming. Get us on your home devices.
All you have to say is play Three Martini Lunch Podcast,
follow us both on X. He's at Jim Garrity, I'm
(24:24):
at Greg Corumbus. Have a great Thursday. Join us again
Friday for the three martini lunch
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