Cavuto Schools Sununu on Inflation: 'You Don't Just Add Them Up'

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00:00New York after all of that. I want to go to Chris Aduno, the governor of New Hampshire,

00:05what he makes of the backdrop for the president's second press conference. Obviously, these protests

00:10and the whole Israel thing and the tender hooks to war, governor, are going to be part of the

00:16questioning he'll get, as will the state of the economy. He's going to be showing that inflation

00:20is a real problem. But we got some numbers today and a soaring market response today,

00:24the sign the consumer is doing a lot better than thought. Strongest retail sales in a year and a

00:29half, Amazon bullish, Target bullish, Walmart saying its customers are robustly into buying

00:36stuff. What do you think of all that? Well, a couple of things. First, I mean,

00:41let's note that the former president Trump actually has a backdrop to a press conference

00:45because he holds press conferences. And Kamala Harris has gotten away with not having to answer

00:50to the press in any way. So right there, you have a clear juxtaposition. When it comes to inflation,

00:55when it comes to the cost of living, folks are not going to make their decisions simply based

00:58on what's happened in the past couple of months. They're going to look at what's happened over the

01:01past four years. And that's where you're looking at 25, 30, 35 percent inflationary and cost

01:07increases on a lot of things. Now, if you look at their spending, but look at the debt, all of those

01:13individuals are getting their credit card bills in September and October as well. And America is

01:17still dealing with record credit card debt. And so these are the stresses. These are the strains

01:21that people are going to be feeling the anxieties. Sure, people are buying their kids are coming

01:25are going back to school. They're coming off vacation. They're getting back into their

01:28their daily lives. So that buying is just naturally going to happen. But in September and October,

01:33the cost of living is going to be a very real issue in this campaign, a very real issue for

01:37Americans, as long as the former president can can keep his focus there and stay professional

01:42on the campaign and talk about the things that Americans want to talk about. As soon as he goes

01:45off off tangent, that's where he's letting the Democrats letting the Democrats take take the

01:50election, that that should be his by a landslide. It really should. So let me ask you this. You

01:58refer to something there to going up at a 35 percent clip or something like that. What what's

02:03that? I mean, you're right. Yes, it's one look since 2020. Go ahead. No, no. Look, since people

02:13will look at the cost of living over the over the life of the administration. So that's 10 percent

02:18inflation 2020 or 2021, another 12 percent, another seven percent, another four percent.

02:24It's cumulative. It keeps adding up. Try to get a contractor to come over and it doesn't. I know

02:31it looks that way, but it doesn't. It's the rate of increase of going. I don't mean that you're

02:35right that the inflation is weird. But if the rate of increase is slowing down, in other words, you

02:40don't take these increases. Yes, I care about the rate of increase. So I look at what they paid

02:45what they put their pain today. You're right. You're right to say inflation is an issue. And

02:49the former president is going to outline certain items that have gone up markedly during that time.

02:54But are you worried just economically that given the market come back from the fall of and you and

03:00I discussed this before, do not judge a market after a couple of days or even a few days.

03:05But but that's right. The sense you're getting from the retailers and the big names is that

03:09the consumer is far from tapped out. So what do you make of that?

03:15Yeah, look, the economy is still going to stay a bit overinflated because there's still so much

03:18government money out there. That's why Biden tried to tell everyone that by dynamics was

03:22working because on a macroeconomic scale, it's still being pumped up by a lot of federal money

03:27that has yet to be spent. Remember that ARPA dollars, all that federal money was designed

03:31to be spent through twenty, twenty five, twenty, twenty six. I mean, they very strategically did

03:35that. But at the end of the day, it's what the individuals are feeling. And look, these retail

03:39numbers are good. Yeah, that's great. They got they got a one really good month. That's terrific.

03:43But there's still record credit card debt. People can't find homes. The immigration issue is very

03:48real. The migrant crisis in these cities is very real. And as long as we get back to those issues,

03:53I want to allow you to focus on this because the president for president is going to come out soon.

03:56But you mentioned something interesting about what he's got to do to stick to those issues.

04:00This one is a good one. Inflation, the economy, you know, the border, all this other stuff that

04:05you've urged him to focus on. Are you pleased that lately he has been doing just that or trying to?

04:13He's he's getting back to it. And I've always said the best poll number you're going to see

04:17is the first real one is just after Labor Day, after the Americans kind of digest all this,

04:21after the Democrat convention. But at the end of the day, if he can focus on those those issues

04:27for the last 60 days, he should win this. I mean, any other candidate would be winning and

04:32winning huge. So this is on Trump's shoulders to close the deal. Right. I've always said

04:37you can't tell you can't, you know, not focus on issues, effectively give the election away

04:42and then tell people it was stolen from you on November 5th. He should be winning big. And if

04:46he stays professional, if he focuses on campaign, focus on those undecided voters, not just his base.

04:52That's what what matters. And that's how he could kind of get that that fire back that he had a

04:56month and a half ago. Now, I know New Hampshire governor is not considered a battleground state.

05:02But when I look at some of the polls across the country, I mean, I'm surprised it's as tight as

05:06it is. But I don't follow this nearly as well as you do. What do you make of New Hampshire and what

05:12New Hampshire voters are saying right now? Because it's almost a 50 50 split.

05:18Kamala is always going to someone with Kamala's background is always going to do well in New

05:22Hampshire. There's no doubt Trump could win here and he can at least keep it close. If not, when

05:25he almost did in twenty sixteen, we have a lot of folks that don't really we don't poll very

05:30accurately. We have a lot of folks that will kind of come out of the woodwork, if you will,

05:33and likely support the former president on November 5th. So I don't look at those polls

05:37too, too carefully. I infamously was told I was going to lose by 11 points on Election Day

05:41here in New Hampshire and we won by two. So a lot can happen in New Hampshire. But I think everyone

05:45knows Georgia, Pennsylvania, Arizona, Michigan, Wisconsin. You know, if Trump does well in those

05:52states and he will, then then this is this is his race to lose. There are a lot of donors in

05:58the Republican Party, by far, not all governor. Let's.

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