Latest / The Ben Ferguson Podcast / America’s Economy Rebuilding after Biden Disaster as Trump Promises Stronger, Better Than Ever

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America’s Economy Rebuilding after Biden Disaster as Trump Promises Stronger, Better Than Ever · The Ben Ferguson Podcast

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  Speaker 1: Your voice sounds a little rough for you're filling ron.
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  Speaker 2: I feel great. I was shouting at people because they
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  Speaker 2: was stupid about something having to do with trade in
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  Speaker 2: a country, and I straightened it out. But I blew
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  Speaker 2: my stack at these few business.
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  Speaker 1: You're listening to the forty seven Morning Update with Ben ferguson.
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  Speaker 3: Good Tuesday Morning. It's nice to have you with us
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  Speaker 3: on the forty seven Morning Update, and it is really
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  Speaker 3: fun to watch what President Trump is doing right now,
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  Speaker 3: as he hosted the McDonald's Impact Summit twenty twenty five,
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  Speaker 3: focusing on all of the success over the last nine
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  Speaker 3: months of the Trump administration with the economy. This is
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  Speaker 3: democrats and media are trying to convince Americans that Donald
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  Speaker 3: Trump's economy is a disaster. Well, we've got the receipts
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  Speaker 3: and they couldn't be further from the truth, and the
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  Speaker 3: President sharing it with the world. But first, I want
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  Speaker 3: It's the forty seven Morning Update and it starts right now.
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  Speaker 3: Story number one, President Trump going on offense, reminding the
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  Speaker 3: American people of what America looked like before he became
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  Speaker 3: president the second time, and also reminding you what Democrats
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  Speaker 3: want to do this country economically, and reminding you about
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  Speaker 3: what all has already been accomplished in the last nine months.
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  Speaker 3: As the President described it, we're making big progress on prices,
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  Speaker 3: and we'll keep working to make sure everyone benefits. The
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  Speaker 3: President making it clear at a summit revolving around McDonald's
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  Speaker 3: where one in eight Americans have actually worked, that Donald
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  Speaker 3: Trump not only inherited an economic mess when he took office,
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  Speaker 3: but that was because of years of mismanagement under Joe Biden,
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  Speaker 3: his incompetent administration, and Democrats in Congress who also spent
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  Speaker 3: years insisting and lying to you claiming that inflation will
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  Speaker 3: quote transitory, and then they decided to go out trillions
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  Speaker 3: and new spinning and dramatically upscale our government size. This
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  Speaker 3: brought the country to the brink of economic ruin, which
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  Speaker 3: is mainly why Donald Trump was elected. Now, since day one,
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  Speaker 3: the Trump administration has been on a mission to tame
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  Speaker 3: Biden's inflation crisis, stop the sky high Biden price increases,
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  Speaker 3: and lower costs for everyday families. While it can't happen overnight,
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  Speaker 3: the White House says, there is clear evidence that shows
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  Speaker 3: the trend is in the right direction now. President Trump
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  Speaker 3: had to tame Biden's inflation, and under Biden, inflation average
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  Speaker 3: nearly five percent and hitting nine point one percent during
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  Speaker 3: the worst inflation crisis in decades, all of it fueled
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  Speaker 3: by radical left, out of control government spending. In President
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  Speaker 3: Trump's second term, inflation has dropped to an average of
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  Speaker 3: just two point seven percent, significantly lower than the four
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  Speaker 3: year average of five percent under Biden and nine point
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  Speaker 3: one percent of it's all time high. The critical first
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  Speaker 3: step in reversing the Democrat's cost of living disaster. In fact,
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  Speaker 3: under President Trump, Americans have even seen the first overall
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  Speaker 3: price declines since twenty twenty in several different categories. Now,
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  Speaker 3: Americans have made real wage gains as well, and there's
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  Speaker 3: still work to do, the White House says as well,
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  Speaker 3: but let's remind you about where we were. Under Biden,
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  Speaker 3: workers lost more than two thousand, nine hundred dollars in
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  Speaker 3: purchasing power, meaning inflation rose faster than wages. In President
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  Speaker 3: Trump's second term, even after accounting for higher prices, America's
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  Speaker 3: real wages have grown by nearly seven hundred dollars and
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  Speaker 3: are on track to increase by nearly one thy two
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  Speaker 3: hundred after his first full year in office. And then
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  Speaker 3: there's the major prices that we deal with every day.
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  Speaker 3: Gas price is a great example. Under Biden, the average
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  Speaker 3: gas price was the highest it had ever been during
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  Speaker 3: a presidential term, reaching its highest ever price, even after
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  Speaker 3: he drained our strategic oil reserves to artificially decrease pricing
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  Speaker 3: before election day. President Trump's second term, Americans have seen
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  Speaker 3: the lowest average gas price in more than four years,
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  Speaker 3: and we're on track to spend the lowest amount of
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  Speaker 3: their disposable income on gas in the last two decades.
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  Speaker 3: As President Trump's energy dominance vision continues to come to
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  Speaker 3: fruition energy prices, they say, we'll fall even further, igniting
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  Speaker 3: another price decline that will help all Americans. Now, if
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  Speaker 3: you're not happy with the price of the pump, let's
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  Speaker 3: talk about Grocery prices and housing prices are trending also
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  Speaker 3: in the right directions for American workers. Prices for everyday
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  Speaker 3: staples are starting to see declines finally under Donald Trump.
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  Speaker 3: Prices for eggs, for butter, ice cream, fresh fruit, cereal, fish, seafood, rice, pasta,
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  Speaker 3: and ham have all seen declines, and more help is
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  Speaker 3: on the way. Housing costs are also moderating. Under Biden,
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  Speaker 3: mortgage rates at their highest in decades. President Trump's second term,
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  Speaker 3: the average thirty year fixed rate mortgage was six point
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  Speaker 3: one seven percent at the end of October, twelve percent
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  Speaker 3: lower than when he took office that according to the
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  Speaker 3: Consumer Price Index. In fact, the twelve month change in
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  Speaker 3: overall shelter costs is at its lowest level in four
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  Speaker 3: years as well. Now there are other efforts to continue
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  Speaker 3: driving prices down. The President talked about it tonight. Ramping
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  Speaker 3: up take home pay and strengthening our economy. President Trump's
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  Speaker 3: deregulatory efforts are also saving Americans a collective one hundred
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  Speaker 3: and eighty billion. What does that mean for you?
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  Speaker 2: You?
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  Speaker 3: Two thousand, one hundred dollars per family of four? For example,
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  Speaker 3: President Trump halted Burdens and biden air efficiency standards that
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  Speaker 3: jacked up the price of everyday appliances. And President Trump
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  Speaker 3: signed into law the largest tax cut in American history.
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  Speaker 3: This includes no tax on tips, no tax on overtime,
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  Speaker 3: and no tax on Social Security, all of which will
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  Speaker 3: save Americans money in their tax returns. The landmark legislation
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  Speaker 3: will raise America's take home pay by as much as
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  Speaker 3: thirteen thousand, three hundred and wages by as much as
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  Speaker 3: eleven thousand, six hundred. So the President decided to take
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  Speaker 3: the stage to talk about exactly where we are. And
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  Speaker 3: I want you to hear what the President had to say.
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  Speaker 2: Will Democrats wanted to give Americans the largest tax syke
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  Speaker 2: in history. In July, I proudly gave you the largest
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  Speaker 2: tax cuts in American history and signed the one Big
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  Speaker 2: Beautiful Bill. I caught the great big beauty built into
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  Speaker 2: law that includes no tax on tips, no tax on overtime,
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  Speaker 2: and no tax on Social Security for our great seniors.
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  Speaker 2: That is a big deal.
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  Speaker 3: It's amazing what the President's accomplished already this year. But
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  Speaker 3: the President says I'm not done there, and made a
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  Speaker 3: pledge to the American families, no matter if you're rich
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  Speaker 3: or poor, conservative or liberal, black or white, or anything
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  Speaker 3: else in between. Here's what the present pledged to you.
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  Speaker 2: In my first term, we built the greatest economy in
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  Speaker 2: the history of the world. And now we're doing it again.
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  Speaker 2: But this time it really is, as I said, much stronger,
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  Speaker 2: much better. I think it's going to be something that
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  Speaker 2: nobody has ever seen before. My pledge to every family
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  Speaker 2: and every small businesses that I will not rest until
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  Speaker 2: you are rich or stronger, more successful, happier, till you've
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  Speaker 2: gotten a piece of the American dream. Some of you
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  Speaker 2: in this room have really gotten a piece of it
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  Speaker 2: because you made a great decision to go with a great,
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  Speaker 2: great company years ago, and it's really pretty amazing. And
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  Speaker 2: that begins with making America. We have to do. The
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  Speaker 2: word is affordable, and affordable should be our word, not theirs.
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  Speaker 2: Because the Democrats got up and try affordability, affordable, and
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  Speaker 2: they don't say that they had the worst inflation in history,
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  Speaker 2: the highest energy prices in history. Everything was the worst.
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  Speaker 3: President Trump is bringing jobs and investments back to the
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  Speaker 3: US as part of his plan to expand America's economy.
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  Speaker 3: In fact, since President Trump took office, companies have invested trillions,
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  Speaker 3: I want to say that word again, trillions of dollars
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  Speaker 3: into their US based operations, on shoring and creating hundreds
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  Speaker 3: of thousands of new jobs for Americans. President Trump is
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  Speaker 3: also reducing the deficit. A combination of spending cuts, interest savings,
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  Speaker 3: economic growth, and tariff revenues are expected to reduce the
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  Speaker 3: deficit by trillions of dollars, resulting in higher take home pay,
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  Speaker 3: lower interest rates in a much stronger American economy. In fact,
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  Speaker 3: one point nine million more American born workers are employed
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  Speaker 3: today then when President Trump took office. That's one point
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  Speaker 3: nine million Americans who are now happily at work with
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  Speaker 3: a job right now. The US has more people working
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  Speaker 3: now than at any time in the history of our country,
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  Speaker 3: and the Trump administration, he says, will not rest until
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  Speaker 3: the high prices that resulted from democratic policies are fully
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  Speaker 3: rained in. He said, We're making progress, and the best,
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  Speaker 3: he says, is yet to come.
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  Speaker 2: We're making tremendous progress. One point nine million more American
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  Speaker 2: born workers are employed today than when I took off.
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  Speaker 2: To think of that, one point nine million more today,
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  Speaker 2: and these are American born workers. Nobody thought that was possible.
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  Speaker 2: And we have the strongest borders in the history of
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  Speaker 2: our country. Nobody comes in unless they come in legally.
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  Speaker 2: You see the number. Everyone thinks it's impossible a year ago,
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  Speaker 2: millions of people with storming on borders. Today they only
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  Speaker 2: come in if they come in legally. And wages for
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  Speaker 2: hourly workers arising at the fastest pace in sixty years now.
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  Speaker 3: The President also made it clear that there's a lot
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  Speaker 3: when it comes to trade deals. We're seeing trade deals
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  Speaker 3: with Switzerland that have just been announced, and we're modifying
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  Speaker 3: tariffs for certain agricultural products. In fact, on Friday, President
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  Speaker 3: Trump signed an executive order exempting certain qualifying agricultural products
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  Speaker 3: from the reciprocal tariffs that he first announced on April
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  Speaker 3: the second. Exemptions are accordingly set to be granted following
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  Speaker 3: a spat of new trade deals being inked with some
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  Speaker 3: of our biggest allies in the Western hemisphere, in addition
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  Speaker 3: to deals that President Trump has already secured with the EU, Japan,
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  Speaker 3: the UK and other major trading partners. What will this
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  Speaker 3: do well. It will give substantial progress in making sure
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  Speaker 3: that American workers are able to export at the same
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  Speaker 3: level that we're importing. And Donald Trump also made it
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  Speaker 3: clear that there are major investments coming into this country
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  Speaker 3: and the tariff money is being used to help American workers,
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  Speaker 3: something that the left and the media said was impossible.
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  Speaker 3: Take a listen about that.
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  Speaker 2: And to your leader who when we met, I said,
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  Speaker 2: how are you doing with racist prices are coming down?
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  Speaker 2: He said, we were up forty percent because of Biden
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  Speaker 2: and inflation, and they're coming down, and they're coming down rapidly.
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  Speaker 2: So I hope that all continues to go. But we're
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  Speaker 2: really doing well as the country. Most importantly, however, I
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  Speaker 2: will take big picture. We have over seventeen trillion dollars
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  Speaker 2: being invested in our country in nine months. It's now
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  Speaker 2: just about ready to crack eighteen. And by the end
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  Speaker 2: of one year we will have about twenty to twenty
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  Speaker 2: one trillion dollars invested in our country. That's more by
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  Speaker 2: ten times, the highest amount ever invested in eddy country
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  Speaker 2: ever before, and it's largely because of tariffs and I
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  Speaker 2: think November fifth election, but it's the largest amount. As
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  Speaker 2: an example, So if we have twenty year twenty one
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  Speaker 2: in one year, twenty one trillion, think of what that is.
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  Speaker 2: That's car factories, it's ai, it's everything. They're all coming
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  Speaker 2: back because of the tariffs. They're all coming back because
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  Speaker 2: they don't want to pay fifteen twenty thirty one hundred
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  Speaker 2: percent tariff. It wasn't that complicated. People are saying, you know,
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  Speaker 2: Trump was right. It really wasn't that complicated. But it's
• 14:31
  Speaker 2: been amazing. As an example, if you take me at
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  Speaker 2: twenty for one year, sleepy Joe Biden, you know what,
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  Speaker 2: he was less than one for four years, and if
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  Speaker 2: they got elected, they would have been at minus ten
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  Speaker 2: because people were moving out of the country in record numbers.
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  Speaker 3: So I hope you'll take the info that I gave
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  Speaker 3: you today, and I hope you'll share it wherever you
• 14:52
  Speaker 3: can on social media, share this podcast and text messages
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  Speaker 3: with family and friends, because this is the reality of
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  Speaker 3: what's happening. It's a complete opposite of what the left
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  Speaker 3: in the media are selling the American people. They believe
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  Speaker 3: that they are successful right now in convincing most Americans
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  Speaker 3: that somehow the economy is a disaster because of Donald
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  Speaker 3: Trump and that things aren't getting better. In fact, they're
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  Speaker 3: getting worse. But if you look at the facts, that's
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  Speaker 3: just not the truth. Thank goodness, because of President Donald Trump,
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  Speaker 3: it is incredible leadership.
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  Speaker 1: Thank you for listening to the forty seven Morning Update
• 15:28
  Speaker 1: with Ben Ferguson. Please make sure you hit subscribe wherever
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  Speaker 1: and we will see you back here tomorrow