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But under Kamala, we are now in a manufacturing recession, with manufacturing contracting in 22 -- think of this -- it got smaller. In 22, out of the last 23 months, it got smaller. It loses -- we're losing jobs every single month. We've lost nearly 50,000 manufacturing jobs this year alone. Car sales are down by 38 percent since I left. The share of domestically produced cars sold has dropped significantly, and the U.S. trade deficit and automobiles has exploded by nearly $50 billion to an all-time high, the worst they've ever had it right now.

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When I was president, the total amount Americans had in their personal savings grew 393 percent. Since Kamala Harris took office, personal savings have absolutely collapsed. They're going down like a rock. They're down by 73 percent. With me in the White House, incomes will soar, and your savings will reach the highest levels ever. We'll even top what we did before. Thank you.

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The cost of a typical monthly mortgage has doubled since I left office, and that number was about three months old from government, and now it's tripled. We had mortgage rates at around 2 percent, close to 2 percent, and they're now at 10 percent, and you can't get a mortgage. So that means it's a lot higher than 10 percent, I guess it is, whatever -- whenever they want to give over the money, and that's a lot more than 10 percent. So when you think about double, they've actually quadrupled or more than that -- think of that -- quadrupled, which really kills the American dream for young people. Young people are being devastated by what they've done to our country.

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The coalition nightmare continues to cost the average American family $1,100 every single month. $1,100. Again, government numbers.

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-Did you know that the Camilla Harris price hikes have cost the average family $28,000, that credit card debt is at an all-time high, and that basically the prices of things have never been like this ever before? There's never been anything like it. If you want to bring the prices down, if you want to have a good life, vote for Trump.

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- We came in much weaker than expected on non-farm. We came in at 114,000 jobs on non-farm. The estimate was 175,000 jobs on non-farm. The unemployment rate unexpectedly went up. We went up to 4.3%. We were looking for a rate of 4.1%. Government jobs, 17,000 on the government job story, and that is actually a lot less than what we got last month. Remember, last month on government jobs, we had 70,000, now we've only got 17,000. All right, private sector jobs, 97,000. Again, that is much weaker than expected. We were looking for 148,000 private sector jobs. Factory jobs, only 1,000.

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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.

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Wage earners, middle-income blue-collar type wage earners, Sean. They're the ones who benefit from a lower corporate tax. They're the ones, for example, in one year under Trump, in one year, 2019, when the thing was fully in place, middle-income working folks made over $5,000. That was a bigger gain than eight years of Obama and Joe Biden. So there's, you're right, there's no corporate tax. It's passed along to wage earners who will lose money under Biden's proposal and consumers and investors. It's a shell game. He is telling untruths just like he always does.

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Joining us now, Byron York, who also has a kind heart, Washington Examiner Chief Political Correspondent Fox News contributor, and Matt Towery, also has a good heart, a political analyst and pollster, Byron, historically bad poll numbers on the economy, usually not a recipe for success in an election year, but they're doing their darndest to try to spin this and to, I guess, send out the signal flares that this could be an emergency situation. You know, you can't spin inflation. I mean, that is the big problem. We have this unique election where both candidates have been president of the United States. People can compare the two actual time in office. And in the CNN poll, 55% of the people said that Donald Trump's presidency was a success, and 61% of the people said Joe Biden's presidency so far has been a failure. And the reason for that, the biggest, biggest reason is inflation because it has not gone away. It is cumulative. The inflation that we all suffered through in 2021, '22, '23 is still with us and getting bigger. And the most recent report, which we got about a month ago, is that it was higher than we think, which killed any hopes of the Fed cutting interest rates and people's hopes of buying a house. wonder they are worried about the future.

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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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These GDP numbers were shocking. We were expecting a 2.4% growth, the actual came in at 1.6%, huge loss, and with rising inflation, even the Fed is admitting that inflation is not only sticky, but it seems to be going in the wrong direction. That adds up to stagflation. I know, and I was preparing myself for your using that word, because that's something we haven't seen since the 1970s.

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So there it goes again. The price of gasoline is skyrocketing and just like the old days under Biden and came down a little bit but it's going up and it's going up big. It's nearing $4 a gallon in many states and much more than that in some. Prices are up almost 6% in the last month alone and they'll be going even higher. It's going to go higher and higher. The price of gasoline affects everyone and everything. American families are paying for it not only at the pump but also in the cost of your groceries your package deliveries and virtually everything you have and everything you buy. Joe Biden actually wants high gas prices because they help with his ridiculous policy of abolishing gasoline powered engines and forcing everyone into expensive all electric cars that don't go very far as you know and they take a long time to charge up. That's why when Joe Biden came into office he shut down the Keystone XL pipeline which was a travesty. He canceled our oil leases in Alaska but he approved the Russian pipeline going to Germany and all over Europe and he waged war on American energy. That's what he did. He waged war on anything American having to do with energy. In addition Joe Biden's weakness plunged the world into chaos and conflict further driving up the prices you're paying at the pump and they're going higher and fast. When I'm reelected reducing the price of gasoline for American families will be a day one priority and that includes electricity and everything else that comes with it. We will drill baby drill we will slash energy crushing regulations and we will restore peace and stability to bring gasoline prices down for everybody. Remember three years ago we were energy independent and now our country is a mess. Thank you very much.

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-Under Crooked Joe Biden, the worst president in the history of the United States of America, the price of food has surged nearly 39%. When you go to the grocery store, you're spending $150, $200, even $250 or more, and you can't even believe how little food you're getting or buying, comparing it to three years ago when I was president. The cost of basics like eggs and chicken and steak is way up, and it's getting worse and worse with each passing day and month. Every time you go to the grocery store and pay these brutal prices, just remember, this is Crooked Joe Biden's inflation, and there's never been an inflation like it. It's the worst in 72 years, but I think it's much longer than that. Under my leadership, we had no inflation. It was virtually zero. Then Crooked Joe came along, and you had inflation at the highest level in 52 years. Joe Biden and the radical left Democrats printed trillions and trillions of dollars and wasted under the Green News scam, and that's what it is. It's the Green News scam. It's a disaster. And taxpayer-funded benefits for hordes of illegal aliens. We're paying so much for illegal aliens, but we're not taking care of our soldiers, our veterans. We're not taking care of our people, and that includes the elderly. Now you are paying the price in your grocery bill for all of Joe Biden's waste and plunder. We've never had anything like this. He's the worst president in the history of our country, and he's not taking care of our people. He probably doesn't know that because I'm not sure he knows anything, but he's not taking care of our people. He looted the Treasury to enrich his political allies, and now you have to pinch pennies in your own shopping cart to cover the cost, and you look at it on a weekly basis. How much more it is. It just keeps going up and up. It's a disgrace, but I will fix it, and I will fix it fast. I will end Joe Biden's inflation nightmare once and for all, and we will quickly rebuild the greatest economy in the history of the world. We will drill, baby, drill. We will get energy prices down to a level that we haven't seen in four years, and then everything else will follow. You're going to be very happy again. You're going to be very rich again, and that's the way we want it to be. Thank you very much.

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Here with reaction is the host of Kudlow on our sister network, the Fox Business Network. Our friend, Larry Kudlow, even the Washington Post reporter, you know, pretty much nailed it where, you know, saying that Bidenomics is now a negative word, Politico saying the panic in the Democratic Party should be about the economy, not about Joe and his age and his and his cognitive decline. I think it's all the above. I don't think it's working for the American people and I can use every measurable statistic imaginable to make that point, Larry. Well, I don't understand. I mean, the Bidens are incapable of telling the truth about this economy. So when the press secretary says she inherited a, quote, reeling economy, which is what the Bidens have said for three years, can I just remind Donald Trump handed them a six and a half percent economic growth rate in the first quarter of 2021 with a one and a half percent inflation rate? So I would say that was a pretty spectacular economy. And then when President Biden says, well, the turkey you bought for Thanksgiving was down, I don't understand that either compared to the Thanksgiving in 2020, which was Donald Trump's last in office, I mean, the American Farm Bureau, I'll just read you this stuff. I'm not making this up. The American Farm Bureau says Thanksgiving dinner was 41 percent higher than at the end of 2020. Turkey up 41 percent, ham up 97 percent, pumpkin pie up 31 percent, and potatoes up 34 percent. Sean, I want you to stay off those potatoes because they're too expensive for your waistline. So I don't know what she is talking about here. I mean, it's just they are incapable of telling the truth. That's the bottom line.

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