00:00So 1.5 million jobs over us. We have access to the doing well. So the next one compares all new numbers.
00:13Well, thank you very much, everybody. We're going to have just a quick session with Steve Moore.
00:18Everybody knows Steve Moore with the Heritage Foundation, highly respected.
00:22One of the most highly respected economists and people that watch your money and know more about your money
00:29in your life than probably anybody I can think of. And I want to thank Steve for being here.
00:35I saw this today. They came out. What he puts out gets a lot of coverage.
00:40And I saw some of them. And then he had a couple of others.
00:43And I'd like to ask Steve maybe to discuss a few of these numbers that were just released.
00:50I mean, literally just released. And then we're going over and we're going to do Purple Heart.
00:55We have some incredible, brave people that I look forward to. So we're going to do that right after this.
01:02Steve, could you say a few words about the various two aspects?
01:05Thank you, Mr. President. So I called the President because I had some very good news from some new data
01:10that we've been able to put together that no one has ever seen before.
01:15And I'll just very quickly go through these. So I was telling the President that he did the right thing
01:20and calling for a new head of the Bureau of Labor Statistics because this shows that over the last
01:25two years of the Biden administration, the BLS overestimated job creation by 1.5 million jobs.
01:32That's a, Mr. President, that's a gigantic error. And I don't know if she's, I'm not making it.
01:37It might not have been an error. That's the bad part.
01:40If it was an error, it would be one thing. I don't think it's an error. I think they did it purposely.
01:44Whether that, you may well be right. But even if it wasn't purposefully, it's incompetence.
01:48Right. Okay. So 1.5 million jobs overestimated. We have access to some data that no one else does
02:01on what has happened month by month with median household income. This is based on unpublished
02:06Census Bureau data. It will be released sometime in the next six months, but we get an advanced look
02:10at it. And so I was telling the President in his first five months in office, starting in January
02:16through the end of June, the average median household income adjusted for inflation for
02:22the average family in America is already up $1,174. That's an incredible number. Just came out.
02:29Just came out. So that's a giant thing. And if I would have said this, nobody would have
02:34believed it. There's your number. We're doing well.
02:38So the next one compares. We finally have the 2024 data on what happened with real family income in
02:46the United States. And so what I did was I compared the record and Donald Trump's first term with the
02:52Joe Biden first term. And you can see that, by the way, these dotted lines here, Mr. President,
02:58that's COVID. So if it had not been for COVID, these numbers would have been substantially better.
03:03But even taking account President Trump's last year in 2020, we saw a $6,400 real after inflation
03:13gain in income for the average family. And that compares with Joe Biden, which was a measly $551.
03:21So, Mr. President, you gain 10 times more income for the average family than Joe Biden. It's because
03:26of your policy. And that's taken into consideration COVID, which a lot of times you don't have to do
03:34that. But I'm very glad you did that. We were almost 8,000. Look at that number. Okay.
03:43So then we looked at which families did the best. And we have data from the Census Bureau that shows
03:52by income percentage. So the 25th percentile is the lowest income. 75th percentile is the highest
03:59income. And what I find fascinating about this, Mr. President, is every income group did better. The
04:05red is President Trump. The blue is President Biden. Every single income group did better under
04:12President Trump. But what's really amazing is look what happened under Biden. The lowest income
04:19group lost income under Biden. They were poor four years after Biden's presidency. No rain virtually
04:26whatsoever for the middle class. And the rich was the only group that did better under Biden,
04:31which is ironic because Biden keeps saying he was trying to get rid of income inequality. He made
04:37income inequality worse, not better. It was President Trump that reduced income inequality.
04:41These numbers just came out, by the way.
04:43And then finally, these are the numbers. I just showed you the percentage terms. Mr. President,
04:53these are the numbers in dollar terms. So even the lowest income, 25th percent, gained about $4,000
05:00income. That's a lot for a lower income family. $6,400 for the middle class and almost $10,000 for the
05:07richest. So you can see every income group did better under Trump than Biden, by a wide
05:13margin. That's the sort. I think when you look at them, they're all something. But this one chart
05:18really says it better than anything. If you look at this, this is great. But this chart is pretty
05:25amazing. Right here. All new numbers. Okay. So we're going to go now over to each room and we're going to
05:44celebrate some very brave people with the Purple Hearts. Yeah, please.
05:48Mr. President, just to follow up on the India tariffs, do you expect increased trade negotiations,
05:56you know, since you've announced the 50 percent tariff? No, not until we get it resolved.
06:00Mr. President, Mr. President, does your deadline for Vladimir Putin agreeing to a ceasefire still
06:05stand tomorrow? Is that fluid now that the talk is about it? Say it. What? Is your deadline still
06:10standing for Vladimir Putin to agree to a ceasefire tomorrow or is that fluid? It's going to be up to
06:14him. We're going to see what he has to say. It's going to be up to him. Very disappointed. Yeah.
06:20Do you have to meet with, does Putin have to meet with Zelensky in order and before you and Putin have
06:26to meet? No. No. Are you hoping for him? So you're willing to, that's actually important because the
06:30President, President Putin said this morning he was pretty dismissive of this idea of meeting with
06:34President Zelensky. Who was? President Putin was. I don't know. I didn't hear him. If you need to meet with him,
06:38he doesn't have to agree to meet with Zelensky. Is that what you're saying? No, he doesn't. No.
06:42So when do you think that means... They would like to meet with me and I'll do whatever I can to stop
06:46the killing. So last month they lost 14,000 people. Killed. Last month. Every week is 4,000 or 5,000
06:56people. So I don't like long waits. I think it's a shame. And they're mostly soldiers. They're Ukrainian
07:04and Russian soldiers. And some people from the cities where, you know, missiles are lobbed in and
07:09you'll lose 35, 40 people a night, which is terrible. But no, mostly it's soldiers. And you're
07:17talking about on average 20,000 a month. 20,000 people are dying a month. Young, generally young
07:25people, soldiers. We're going to speak in about soldiers. We'll see you over for Purple Rain.
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