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00:56Well, thank you very much.
01:11We're looking at the construction and we're with the chairman, as you know, and we're just
01:19taking a look at what's happening.
01:20You know, it's a tough construction job there, building basements where they didn't exist
01:26or expanding them, and a lot of very expensive work.
01:29There's no question about it.
01:31And Tim has been with me for a long time, and you're in charge of the committee.
01:36Indeed.
01:36One of the reasons why we wanted to see it was the overruns of the expenses.
01:39We wanted to figure out why.
01:41So we're taking a look, and it looks like it's about $3.1 billion.
01:47It went up a little bit, or a lot.
01:50So the $2.7 billion is now $3.1 billion.
01:54I'm not aware of that.
01:55Yeah, it just came out.
01:57Yeah, I haven't heard that from anybody in the Fed.
02:00Yeah, it just came out.
02:05Our notes had about $3.1 billion as well.
02:07$3.1 billion.
02:08This came from us?
02:10Yes.
02:11I don't know who does that.
02:15You're including the Martin renovation.
02:16You just added in a third building is what that is.
02:21That's a third building.
02:22It's a building that's being built.
02:24No, it was built five years ago.
02:26We finished Martin five years ago.
02:28It's part of the overall work.
02:30So we're going to take a look.
02:34We're going to see what's happening.
02:35And it's got a long way.
02:38Do you expect any more additional crossover ones?
02:42Don't expect them.
02:43We're ready for them.
02:44But we have a little bit of a reserve that we may use.
02:47But no, we don't expect to be finished in 2027.
02:51We're well along, as you can see.
02:53Nice to take these off every once in a while when we're not under too much danger.
02:59So, any questions?
03:01Mr. President, as a real estate developer, what would you do with a project manager who would be over budget?
03:08Do you think this issue, Mr. President, gives you cohorts to do that?
03:15Well, I'm here just really with the chairman.
03:19He's showing us around, showing us the work.
03:21And so I don't want to get that.
03:22I don't want to be personal.
03:23I just would like to see it get finished.
03:27And in many ways, it's too bad it started.
03:29But it did start.
03:31And it's been under construction for a long time.
03:35It's going to be a real long time.
03:38Because it looks like it's got a long way to go.
03:39Yes, sir.
03:40Mr. President, are there things the chairman can say to you today that would make you back off some of the earlier criticism?
03:47Well, I'd love him to lower interest rates.
03:49But other than that, what can I tell you?
03:52The country is doing really well.
03:54I just briefed the chairman on the deal we made with Japan.
03:56Japan is putting up $550 billion in order to lower their tariffs a little bit.
04:02That way they have a little bit lower tariff.
04:04And they also opened their country to free trade, which nobody thought was even a possibility.
04:10And we get a zero tariff in the free trade.
04:14We don't pay tariffs.
04:15And they're going to pay 15% on everything they send into our country.
04:19So it's great.
04:20But they put up, as you could call it, seed money.
04:24Let's call it seed money.
04:25You could call it anything you want.
04:27But it's a total of $550 billion.
04:31So nobody thought any of that was possible.
04:34And it's wonderful.
04:35And we're doing pretty well with the European Union, likewise.
04:38And we have some others.
04:41They're all really big.
04:42And our country is going to make a lot of money.
04:44We would be helped if interest rates would come down.
04:46But we're going to see how the board rules on that soon.
04:49I'd love to see them come down a lot.
04:51But we have a country that's thriving.
04:54We had a dead country one year ago.
04:56Today we have the hottest country anywhere in the world.
04:59And we'll get this one finished.
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