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>> Vitanomics is working. >> Five minutes later. >> Breaking news right now, the Dow Jones is down about 1,010 points. >> And Vitanomics is working. >> It's working. >> Markets around the globe this morning are selling off. Overnight, Japan's Nikkei plunged 12 percent. It's worst day since the 1987 Black Monday crash. >> Vitanomics, it's working. >> This is heavy. Microsoft is down 20 bucks, that's 5 percent. Alphabet, 5 percent. Meta, 6 percent. Amazon, 6 percent. Apple, 9 percent down. >> And Vitanomics is working. >> Our plummet is fueling fears of recession amid a global market meltdown. >> The unemployment rate jumped to 4.3 percent. It just doesn't usually happen in a healthy economy. A rise like that is historically a sign that a recession is imminent. >> Vitanomics is working. >> It's working.

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"Bidenomics is working. Meanwhile, most renters feel like they will never be able to own a home." "The typical starter home is now worth more than one million dollars. For many buyers, that means achieving the American dream of owning a home is increasingly difficult, if not impossible." "And Bidenomics is working. Listen to this stat. Since 2020, food prices have increased 26 percent, and we are all feeling it when we go grocery shopping." "Bidenomics, it's working. Is a term we're very proud of, I must tell you." "Gasp prices are on the climb across the U.S." "Prices are nowhere near the levels they were at in 2020." "And Bidenomics is working." "So you get three consecutive monthly readings on job gains that are less than 125,000. I'm beginning to smell a recession." "Bidenomics is working." "It's working."

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Vitanomics is working.

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(dramatic music) - At tonight, we can proudly say the state of our union is strong and getting stronger. There's no accident, it's bite-nomics. That's bite-nomics, that's investing in America. And guess what? It's working. - Inflation rising. - Gas prices are surging. - Bump order is in chaos. - We've seen billions of illegal immigrants pour over the corner. - Shootings, carjackings, and robberies happening by the day. - We have rescinded so many Trump immigration policies, it would take so much time to list them. - The place is not going away. - People can't afford groceries. - Races have skyrocketed. - Shelter up 20% energy costs up 30%. - Israel has declared it is at war. - Russia's full-scale invasion of Ukraine. - Bad for working families, bad for American jobs, bad for the world border and stability.

Transcribed automatically. Expect errors in names and numbers.

(dramatic music) - At tonight, we can proudly say the state of our union is strong and getting stronger. There's no accident, it's bite-nomics. That's bite-nomics, that's investing in America. And guess what? It's working. - Inflation rising. - Gas prices are surging. - Bump order is in chaos. - We've seen billions of illegal immigrants pour over the corner. - Shootings, carjackings, and robberies happening by the day. - We have rescinded so many Trump immigration policies, it would take so much time to list them. - The place is not going away. - People can't afford groceries. - Races have skyrocketed. - Shelter up 20% energy costs up 30%. - Israel has declared it is at war. - Russia's full-scale invasion of Ukraine. - Bad for working families, bad for American jobs, bad for the world border and stability.

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-On day one of my new administration, we're going to throw out Bidenomics, and we're going to replace it with "maganomics magnum." And upon taking office, I will impose an immediate moratorium on all new spending grants and giveaways under the Joe Biden mammoth socialist bills, like the so-called Inflation Reduction Act. We're gonna save all that money. It's not helping you at all. It's not doing a thing for you. It's just -- It's just like a political game. We're going to stop the Biden spending spree. We're going to halt his inflation death spiral. We're going to terminate his green-news scam. It's gonna be terminated, and we're going to end this war on American energy. We're gonna drill, baby-drill. We're gonna bring down your energy costs.

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This isn't going to make for great reading this morning in the Oval Office, is it? Bidenomics equals inflation. And when you ask, "How is the economy going today? What's your rating of it?" 30 percent. 30 percent of Americans say it's good. 70 percent of Americans say it's poor. Has it gotten better? And very few people say that it has. In fact, many say they feel it's gotten worse, and inflation is the reason that they say that. 34 percent currently approve of Biden's handling of the economy. 66 percent disapprove. And a majority of swing-state voters may not see worsening economic conditions in the coming months. So that doesn't spell optimism for the Biden camp. Less than one in five respondents say they expect inflation and interest rates to be lower by the end of the year. And then more than three-quarters say that Biden is responsible for how they feel about the economy. More say they feel they'd be financially better off under Donald Trump, and that cuts directly to vote. Trump is leading Biden, who has ample work to do with his base and with independent voters who are breaking to his GOP rival. In a head-to-head race, 49 percent of voters say they'd pick Trump for president, compared to 43 percent for Biden. 55 percent say Trump's time in office was his success, with only 39 percent saying the same about Biden's presidency. [music fades out]

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So we thought, well, let's just look at some of the numbers and figure out where we were and where we are now. Start with your primary residence, whether you're renting your house or owning your home. You're up 20% since Biden took office. That's like a mortgage payment that goes up $700 a month, Ashley. So we're talking real money there. Now you've got any money left over to eat away. Your costs to go eat out are 21%. I took the family out for lunch this weekend. I had to try to figure out which kid ordered caviar, Ashley, because I was like, how did Bill get so high? Food at home is not much better. It's up 21% as well. So whether you're out or at home, you're paying a lot. Now, let's say you want to make yourself a chicken sandwich, Ashley. Your chicken costs are up 21%, actually 26%, sorry, it's even worse than that since Biden took office. If you want some bread, your bread costs are up 30% since Biden took office, and that probably is the kind of food you're eating, Ashley. But for those of us with a sweet tooth, let's talk sugar and butter. Sugar costs up 44%, butter up 27%. I know you're probably cutting down on that, but some of us aren't, and it makes life less fun when you got to pay so much for that. So here's the point, Ashley, you've got a president who can't seem to convince people that things have gotten better, even though he thinks the data's on his side. But when you really look at the data, you get why people say life is just so unaffordable and they don't have confidence in what the president's doing on the economy right now.

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