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00:00And so I called the president because I had some very good news from some new data that we've been
00:05able to put together that no one has ever seen before. And I'll just very quickly go through
00:11these. So I was telling the president that he did the right thing in calling for a new head of the
00:16Bureau of Labor Statistics, because this shows that over the last two years of the Biden
00:21administration, the BLS overestimated job creation by 1.5 million jobs. That's a, Mr. President,
00:28that's a gigantic error. And I don't know if she's, I'm not making it. It might not have been an error.
00:33That's the bad part. If it was an error, it would be one thing. I don't think it's an error. I think
00:37they did it purposely. Whether that, you may well be right, but even if it wasn't purposefully,
00:42it's incompetence. Right. Okay. So 1.5 million jobs overestimated. We have access to the,
00:49we have access to the, some data that no one else does on what has happened month by month with
00:57median household income. This is based on unpublished census bureau data. It will be
01:02released sometime in the next six months, but we get an advanced look at it. And so I was telling
01:06the president in his first five months in office, starting in January through the end of June,
01:12the average median household income adjusted for inflation for the average family in America is
01:18already up $1,174. That's an incredible number. Just came out. Just, just came out. So that's a giant
01:26thing. And I would have said this. Nobody would have believed it. There's your number.
01:32We're doing well. So the next one compares, we finally have the 2024 data on what happened with
01:39real family income in the United States. And so what I did was I compared the record and Donald Trump's
01:45first term with the Joe Biden first term. And you can see that, by the way, this, these dotted lines
01:52here, Mr. President, that's COVID. So if it had not been for COVID, these numbers would have been
01:56substantially better. But even taking account of President Trump's last year in 2020, we saw a $6,400
02:05real after inflation gain in income for the average family. And that compares with, with Joe Biden,
02:12which was a measly $551. So Mr. President, you get, you gain 10 times more income for the average
02:19family than Joe Biden is because of your policies. And that's taken into consideration COVID, which
02:26a lot of times you don't have to do that, but I'm very glad you did.
02:30So then we looked at, you know, which families did the best. And we have data from the Census
02:45Bureau that shows by income percentage. So the 25th percentile is the lowest income, 75th percentile
02:53is the highest income. And what I find fascinating about this, Mr. President, is every income group
02:58did better. The red is President Trump, the blue is President Biden. Every single income group did
03:06better under President Trump. But what's really amazing is look what happened under Biden.
03:12The lowest income group lost income under Biden. They were poor four years after Biden's presidency,
03:20no gain virtually whatsoever for the middle class. And the rich was the only group that did better
03:25under Biden, which is ironic, because Biden keeps saying he was trying to get rid of income
03:30inequality. He made income inequality worse, not better. It was President Trump that reduced
03:35income inequality.
03:35These numbers just came out, by the way.
03:38And then finally, these are the numbers just in, I just showed you the percentage terms.
03:47Mr. President, these are the numbers in dollar terms. So even the lowest income, 25th percent,
03:53gained about $4,000 income. That's a lot for a lower income family, $6,400 for the middle class
04:00and almost $10,000 for the richest. So you can see every income group did better under Trump
04:06than Biden by a wide margin.
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