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welcome back America you know Steve Moore it's a pleasure to have you back unleash prosperity co-founder former Trump economic advisor and really one of the best economists out there and Steve Moore I want to discuss this with you because it's not going to be discussed anywhere else right which is part of the problem the media basically have thrown a pillow over the economy and are suffocating the news about it we have an economy that is expanding we've an economy that is expanding for the middle class and for poor people in terms of creation of jobs wealth creation opportunity creation we also have some people Steve Moore who are saying you know just feel the public's pain feel the pain understand the pain be empathetic with the pain I don't have a problem with that but how about we get the facts on the table and talk about what's actually going on in this country you're the man to do it so let's get started what's going on in this country economically well listen this is a blockbuster economy in so many ways now I understand people are upset about paying you know four dollars and twenty nine cents a gallon for gasoline and that is a problem but if you look at so many of these other elements of the economy and just since the last time you and I talked which was a month or two ago the numbers just keep getting better so for example just the other day the energy department reported that we are in the United States producing more oil and gas than any other time in American history mark more own guests were the number one producer of oil and gas that didn't happen by accident it's because Donald Trump put in place drill baby drill whereas you know Joe Biden his predecessor tried to kill the oil and gas industry imagine if we had had Biden for four more years we'd be paying seven eight dollars a gallon for gasoline how about the fact that Trump truly is the blue-collar president you look at what's happening with manufacturing construction virtually all-time highs in terms of job creation in terms of output by our construction and manufacturing industry great news for middle-class workers how about the fact that if you look at people's 401k plans and as you know we've got something like 120 million American families that have 401k plans and other retirement plans those are up just since Trump came into office for a second term of $25,000 in value by the way they fell those plans fell in value under Joe Biden how about this one that they revised upward the GDP both for the previous quarter and this quarter we're running at three and a half to four percent those are blockbuster numbers those are numbers that almost no other country can report on so overall I'm gonna rate this a B+ economy yes inflation is a problem but all these other things that nobody's talking about are so universally positive let's talk about inflation the problem yeah it's a lot lower than it was just two or three years ago is yes yeah now this is a really important point if you take the average inflation rate per year under Biden it was 5% the average inflation rate since Trump has taken office is 3% now it's running at about 3.4% but I'm here to tell you as soon as we bring that oil price down you're gonna see prices fall rather dramatically so that's a big difference 5% inflation under Biden 3% inflation under Trump and yet the Democrats are saying put us back in power we're gonna lower the inflation rate now may make another point about this because it's very important and we chatted about this previously but it's it's more important now than ever where is inflation worse where which states have the highest energy prices gas prices electricity prices housing prices nine of the ten states that are most expensive to live in ready for this mark nine of the ten states with the highest cost of living our blue states California New York New Jersey my home state of Illinois Connecticut Massachusetts now wait a minute we're gonna put these people in power and they're gonna lower your prices I don't think so they can't do it in their own states they never tell us how they're gonna lower prices and I don't think they can't Steve Moore because they they're the ones who kept driving prices up and as a matter of policy they should be thrilled with the price of a gallon of gasoline because as you point out they wanted it at seven or eight dollars a gallon and if they get back in office does anybody actually think they're gonna tolerate us as the number one producer of oil in the world at this record level no they're not gonna tolerate that they're gonna clamp it all right down and I want to pursue that with me when we come back we'll be right back welcome back America Steve Moore I'm trying to figure out exactly how the Democrats are gonna lower the price of anything when you look at these Democrat states you're talking about nine out of ten the prices are higher than anywhere else look at the price of a gallon of gasoline in California premium gasoline diesel gasoline over eight dollars a gallon that is Newsom and the Democrats yeah you know I've been making the case Steve Moore maybe maybe you agree that the main reason the price of gas is high is because of Democrats that's the main reason the price of gas is high anyway tell me how do we reduce the price of gas immediately because you have an idea yeah and have been some of the Republican governors around the country are picking this up why not temporarily suspend the federal gas tax and state gas taxes which can add as much as 75 cents a gallon to to a price tag that you pay at the pump until we get the price back down to below $4 gallon there's also all of these left wing requirements that you put in all these renewable energy stuff like putting corn in your tank with ethanol why not suspend that we estimate if the president would do that tomorrow he'd get a lot of resistance from Democrats we could lower the price of gasoline by 50 cents a gallon and that would provide motorists with a lot of relief why not do that and then when we get the gas price back down then we can reinstate these policies probably get a lot of resistance from farmers - well you know maybe a couple the other Iowa maybe some of the Iowa senators might not like that but it would be temporary and it would basically show Trump is doing all he can now I want to make a related point to this what is the first thing Democrats want to do if they take power they want to repeal the big beautiful bill they call it the big ugly bill they voted against not only did the average family saved $2,500 a year on their taxes but how about the fact that 20 million 20 million small businesses which produced the most jobs in America would face a huge tax increase same with mortgage interest deductions and property tax deductions all were increased for average Americans under the president United States not a single Democrat voted for that to me there's so much good that's been done in the left less than two years by this president and the Republicans in Congress without a single Democrat vote most of the time it's really incredible to me now you also we have discussed off air this change in total wealth by group since 2019 and yeah and what Donald Trump has done about that tell me about that well you know if you count Trump's first term in office and a second term in office the average increase in in 401k plans and retirement plans because remember the stock market's been doing very well has increased by about $50,000 you know what happened under Biden's four years when you come for inflation it lost $24,000 I mean Biden depleted the value of people's retirement funds and incidentally if I may Democrats have a plan they keep talking about how much they love seniors they have a plan in their DSA you know Democrat Socialist of America to to put in place something called Medicare for all so that would bankrupt Medicare seniors should be very afraid of this it will basically run the system will completely run out of money if you do 200 300 million people under Medicare where is the gun money going to come from Medicare will collapse mark if they do this and seniors will lose their health care coverage and seniors who've paid into it for decades yeah American citizens the legal aliens who come across the border don't get Medicare for all people who who've never contributed to Medicare they'll get Medicare for all so in other words they're going to turn it into a massive welfare program that's right and you're right it'll collapse because it's already supposed to collapse and so they'll push this over the cliff even faster seniors should be as you point out very very worried about this plan that the Democrats have Steve Moore final words it's a strong economy Trump is pushing all the right buttons I think in his next two years we're gonna see one of the biggest booms he ever saw hundreds of billions of dollars money coming into the US economy to create jobs every country in the world you may not hear this from the press every country in the world would love to have the American economy that we have under Donald Trump and I believe he's launched the fourth Industrial Revolution I agree I data centers yeah and all these other spectacular things going on the only thing that can kill this is if the Democrats take the house and or the Senate it will kill it Steve Moore great work as always thank you my friend

Transcribed automatically. Expect errors in names and numbers.

A political bar chart graphic comparing cumulative price change under Biden versus Trump's second term ("Trump 2.0"), covering January-July of each president's second year in office. It has a dark navy header with the "45|47" presidential seal logo on both left and right sides. A blue/red bar chart compares six categories: Overall Inflation, Groceries, Gasoline, Rent, Electricity, and New & Used Cars, with blue bars labeled "BIDEN" and red bars labeled "TRUMP" for each category, showing Biden's percentages higher than Trump's in every category except New & Used Cars, where Trump's figure is negative.

Text in image: Cumulative Change In Price Biden VS Trump 2.0 BIDEN TRUMP Jan-July of Second Year in Office 12.3% 4.3% OVERALL INFLATION 15.8% 3.3% GROCERIES 69% 12% GASOLINE 7.7% 4.5% RENT 19.1% 6.6% ELECTRICITY 23.9% -1.2% NEW & USED CARS

Described automatically. The words above are a machine's reading of the picture, not Trump's.

>> Look, you've got to look at this report as another victory for President Trump who has focused on reigning in inflation and that's what we're seeing from this report again.

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there. Overall inflation is up almost 20 percent. All food is up 22 percent. Housing up 23. Energy almost 30 percent higher for Americans. Auto insurance 60 percent almost. It's higher than it was before under Trump. Oh and wages oh yeah real wages from when Trump left office to last month are also down.

Transcribed automatically. Expect errors in names and numbers.

when I left office, we had no inflation. We had virtually, just think of it, we had virtually no inflation for the entire four years. So when people made money, that was really their money. It wasn't money that they have to give back to a source that they know nothing about, including government under Biden and Harris because of inflation. The economy has been a total disaster. But Kamala says that she can't think of one thing that she would do differently. She said that two days ago in a very unfortunate interview for her. And there are many people saying in particular, highly respected analyst like Scott Besant, one of the top analysts on Wall Street, that the only reason that the stock market has gone up is because Donald Trump is doing very well in the polls and it looks like he's going [applause]

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It was just announced that inflation came in substantially hotter than expected last month, double what was predicted with much of the gain coming from food prices going up, rent and housing costs going up and car prices going up. Interest rates, as you know, are also a big factor. They're very high. They've gone from 2% when I was in office to 10% now and you can't get the money. That means it's much higher than 10%, which really kills the American dream for young people. We have a lot of young people here, a lot of college people here. The fact is that the Federal Reserve brought the interest rates down a little too quickly. It was too big a cut and everyone knows that was a political maneuver that they tried to do before the election, but they did the wrong thing. It was totally a political decision and inflation has started to rise.

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Inflation is a disaster. Kamala's inflation nightmare continues to cost the average American family every single month. Local bread cost 50% more today. Ground beef is up almost 50%.

Transcribed automatically. Expect errors in names and numbers.

Inflation is a disaster. Kamala's inflation nightmare continues to cost the average American family every single month. Low bread cost 50% more today. Ground beef is up almost 50%.

Transcribed automatically. Expect errors in names and numbers.

New report from the Wall Street Journal shows $100 at the grocery store just doesn't go as far as it did five years ago. Today, that same grocery list costs 36.5% more. Food prices, like any sort of basic necessity, are going to disproportionately affect poorer consumers because they have fewer dollars to spend. Items like beef, fruit snacks, and mayonnaise are more than 50% more expensive than back in 2019. and consider it.

Transcribed automatically. Expect errors in names and numbers.