00:00President Trump's Christmas came early this year after the Commerce Department's announcement that
00:04the economy grew 4.3 percent in the third quarter. The surprisingly strong number is the biggest
00:10jump in two years. The president took to Truth Social for a victory lap on Tuesday, posting in
00:16part, quote, the tariffs are responsible for the great USA economic numbers just announced,
00:21and they will only get better. One of the biggest factors in economic growth is consumer spending.
00:26So if you're listening to this while you're doing that last minute Christmas shopping, I am talking
00:31about you. It makes up about 70 percent of economic activity in this country. Big spending in health
00:36care and electric vehicles largely fueled the surge, with the bulk of the cash flow coming in
00:41from upper income households, taking advantage of the record gains the financial markets have seen
00:46this year. Consumer spending rose to 3.5 percent, up from 2.5 percent back in September. Basically,
00:53this all means that Americans are shelling out more money now than they were earlier in the year,
00:58and that's something the president actually told us to expect last week when he addressed the nation
01:03on his economic accomplishments.
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