Transcript
Mark Levin (0:00)
America's best days are yet to come. That's because conservatives like you know and live the values our great country was built on. The Heritage foundation exists to make sure your voice is heard in the D.C. swamp each day, shining the light on a bright future. The Heritage foundation stands for your values and won't give up the fight because they know you never will. Paid for by the Heritage Foundation.
Caller/Listener (0:21)
He's here. He's here now. Broadcasting from the underground command post deep in the bowels of a hidden bunker somewhere under to the brick and steel of a nondescript building, we've once again made contact with our leader, Mark Le.
Ben Ferguson (0:43)
It'S the economy, stupid. That is the line that matters in every election. If you're not talking about the economy and the economy is bad, you're going to have problems. Democrats believe that the majority of you listening right now are blaming Donald Trump for what they're describing as a, quote, bad economy. I'm actually not joking. What does the data say? It says the opposite of that. Now, I have a question I want to ask you and I want if you're on X, I want you to respond. If you want to call, I want to hear do you support the President United States of America on the economic numbers and the economy in general? Do you trust the President of the United States of America on the economy and the way that's going? Yes or no? 1877-381381-11877, 3813-811 you can also send me your comments on X Ben Ferguson show. President Donald Trump on Tuesday credited his tariffs with producing better than expected economic numbers in the third quarter and added that the, quote Trump economic golden age is full steam ahead. In a pair of true social posts, Trump said the tariffs are responsible for the great USA economic numbers and declared there is, quote, no inflation and great national security. While urging support to pray for the U.S. supreme Court, he also touted the Commerce Department's reported 4.3% growth as a rate as proof that good government and all caps tariffs are powering what he called the Trump economic golden age. The government's initial estimates show U.S. growth and the gross domestic product numbers are big, the broadest measure of economic output. It rose at 4.3% annual pace from July through September. That is up, not down from the 3.8 in the second quarter as well as the roughly 3% forecast tracked by fact set. Now. The report credits stronger consumer spending. In fact, we had record Black Friday sales and Monday Cyber Monday sales, higher exports. By the way and increased government outlays for the jump. Trump sees on those details, arguing that tariffs are boosting the domestic production and rebalancing trade. In his second post, Trump claimed that consumer spending is strong and it's way up. Imports and trade deficits are way down, adding that investment is setting records because of his tax package which he labeled the great big beautiful bill and his tariff policy which Democrats said would be a disaster. That is actually not what has happened. What we've seen is incredible number of dollars that have been collected by our federal government which will then help with our out of control government spending. Our, our deficits. Now consumer spending, and this is important, grew it at a a 3.5% annual rate in the third quarter. That is up an entire percentage point from the 2.5 in the prior period. Exports also surged and government spending also increased. Baron similarly noted that expert exports, excuse me, jumped sharply and that business investment improved compared with the prior quarter. Even as an analyst warned trade flows can be temporarily distorted by shifting tariff expectations. That's how they described it. Now here's what really matters. Inflation. Inflation remains a key political and economic pressure point. The Federal Reserve's preferred inflation gauge, all right, what they prefer, the personal consumption expenditures known as PCE. The price index rose at a 2.8% annual pace last quarter with core PCE at 2.9, both above the Fed's 2% target but down from where they were with Biden. That dynamic could complicate the central bank's next steps on interest rates is what some economists are warning now. The GDP report was also released later than originally scheduled because of a recent government shutdown which create a backlog of federal economic data. The shutdown is expected to weigh on the fourth quarter activity with estimates suggested it could shave 1 to 2 percentage points off growth in the current quarter that we're in right now because the government was shut down. We know that is temporary and obviously will come back Now. Donald Trump and many of his advocates, his allies argued the headline growth number validates an America first approach. The US Using these tariffs to pressure adversaries, protect US Industry and drive investment back home. So all of this is way better than what we were quote, expecting. Fox Business Channel describing it this way on what we've just witnessed.