Trump And Stephen Moore Unveil 'New Data' To Make Case Against BLS Jobs Numbers

Forbes Breaking News

In the Oval Office, President Trump and economist Stephen Moore made the case against the Bureau of Labor Statistics jobs numbers.

Transcript

00:00well thank you very much everybody and we're going to have just a quick session with steve moore

00:15everybody knows steve moore with the heritage foundation highly respected one of the most

00:20highly respected economists and people that watch your money and know more about your money and your

00:26life than probably anybody i can think of and i want to thank steve for being here i saw this

00:32today they came out what he puts out gets a lot of coverage and i saw some of them and then he had

00:39a couple of others and i'd like to ask steve maybe to discuss a few of these numbers that were just

00:46released i mean literally just released and then we're going over and we're going to do purple heart

00:52we have some incredible brave people that i look forward to so we're going to do that right after

00:58this steve could you say a few words about the various jokes thank you mr president so uh i called

01:04the president because i had some very good news from some new data that we've been able to put

01:09together that no one has ever seen before and i'll just very quickly go through these so i was telling

01:14the president that he did the right thing in calling for a new head of the bureau of labor statistics

01:20because this shows that over the last uh two years of the biden administration the bls overestimated

01:26job creation by 1.5 million jobs that's a mr president that's a gigantic error and uh i i don't know if

01:34she's i'm not might not have been an error that's the bad part it was an error would be one thing i don't

01:38think it's an error i think they did it purposely whether that you may well be right but even if it

01:43wasn't purposefully it's incompetence right okay so 1.5 million jobs uh overestimated we have access to

01:51the um we have access to the uh some data that no one else does on what has happened month by month

02:00with median household income this is based on unpublished census bureau data it will be released

02:05sometime in the next six months but we get an advanced look at it and so i was telling the president

02:09in his first five months in office starting in january through the end of june uh the average

02:15median household income adjusted for inflation for uh the average family in america is already up

02:211174 dollars that's that's an incredible number just came out just just came out so that's a giant

02:28thing and if i would have said this nobody would have believed there's just there's your number

02:32we're doing well so the next one compares we finally have the 2024 data on what happened with

02:42real family income in the united states and so what i did was i compared the record and donald trump's

02:48first term with the joe biden first term and you can see that um by the way this these dotted lines

02:54here mr president that's covid so if it had not been for covid these numbers would have been

02:59substantially better but even taking account uh president trump's last year in 2020 we saw

03:06a 6 400 real after inflation gain in income for the average family um and that compares with with

03:14joe biden which was a measly 551 dollars so mr president you get you gain 10 times more income

03:21for the average family than joe biden is because of your policy and that's taken into consideration

03:27covid which a lot of times you don't have to do that because we were i'm very glad you did

03:33we were over no we were almost 8 000 until look at that number yeah okay

03:37so uh then we looked at you know which families did the best we have data from the census bureau that

03:48shows uh by income uh percentage so the 25th percentile is the lowest income 75th percentile is the

03:56highest income what i find fascinating about this mr president is every income group did better the

04:02red is uh president trump the blue is president biden every single income group did better under uh

04:09president trump but what's really amazing is look what happened under biden the lowest income group

04:17lost income under biden they were poor four years after president biden's presidency no gain virtually

04:23whatsoever for the middle class and the rich was the only group that did better under biden which

04:28is ironic because biden keeps saying he was trying to get rid of income inequality he made income

04:34inequality worse not better it was president trump that reduced income inequality these numbers just

04:39came out by the way and then finally

04:44um these are the numbers just and i just showed you the percentage terms

04:47uh mr president these are the numbers in dollar terms so uh even the lowest income uh 25th percent

04:56gained about four thousand dollars income that's a lot for a for a lower income family sixty four

05:01hundred dollars for the middle class and almost ten thousand for the richest so you can see every

05:06income group did better for under trump than biden by a wide margin that's the sort i think when you look

05:12at them they're all something but this one chart really says it better than anything if you look at this

05:18this is great but this chart is pretty amazing right here

05:30all new numbers

05:35okay so we're going to go now over to

05:38each room and we're going to celebrate some very brave people with the purple hearts yeah please

05:45mr president um just to follow up on the india uh tariffs uh do you expect increased trade negotiations

05:52you know uh since you've announced the 50 percent tariff no not until we get it resolved

05:59is your deadline for vladimir putin agreeing to a ceasefire still stand tomorrow is that fluid now that

06:04talks say it what is your deadline still standing for vladimir putin to agree with ceasefire tomorrow

06:09or is that fluid now it's going to be up to him and we're going to we're going to see what he has

06:14to say it's going to be up to him very disappointed yeah do you have to meet with does putin have to

06:19meet with zelensky in order and before you and putin have to meet or you know no are you so you're

06:25willing to that's actually important because the president president said this morning he was pretty

06:29dismissive of this idea of meeting with who was president who was i don't know i didn't hear

06:34you to meet with him he doesn't have to agree to meet with zelensky is that what you're saying

06:37no he doesn't no no so when do you think they would like to meet with me and i'll do whatever i can to

06:43stop the killing so uh last month they lost uh 14 000 people killed last month every week is four or

06:53five thousand people uh so i don't like uh long waits i think it's a shame and they're mostly soldiers

07:00they're ukrainian and russian soldiers and some people from the cities where you know missiles are

07:05lobbed in and you'll lose 35 40 people a night which is terrible but no mostly it's soldiers

07:13and you're talking about on average 20 000 a month 20 000 people are dying a month young

07:21generally young people soldiers uh we're going to speak in about soldiers we'll see you over

07:25for purple rings thank you press thank you press thank you press thank you press thank you

07:39thank you keep moving thank you thank you press come on guys thank you guys thank you mr president

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