Ben Ferguson (3:37)
You're listening to the 47 Morning Update with Ben Ferguson. Good Saturday morning. It's nice to have you with us on the 47 Morning Update, and we've got a big story for you. It is really fun to watch what President Trump is doing right now as he hosted the McDonald's Impact Summit 2025, focusing on all of the success over the last nine months of the Trump administration. With the economy, this is Democrats and media are trying to convince Americans that Donald Trump's economy is a disaster. Well, we've got the receipts and they couldn't be further from the truth and the president sharing it with the world. But first, I want to tell you about our friends over at Patriot Mobile. Every so often, something happens that reminds us just how fragile our freedoms are. We can't afford to take our rights for granted. We must draw a line in the sand. And our friends at Patriot Mobile have been doing just that for more than 12 years. 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The president making it clear at a summit revolving around McDonald's, where one in eight Americans have actually worked, that Donald Trump not only inherited an economic mess when he took office, but that was because of years of mismanagement under Joe Biden, his incompetent administration and Democrats in Congress who also spent years insisting and lying to you, claiming that inflation was, quote, transitory. And then they decided to dole out trillions in new spinning and dramatically upscale our government size. This brought the country to the brink of economic ruin, which is mainly why Donald Trump was elected. Now. Since day one, the Trump administration has been on a mission to tame Biden's inflation crisis, stop the sky high Biden price increases and lower costs for everyday families. While it can't happen overnight, the White House says there is clear evidence that shows the trend is in the right direction. Now. President Trump had to tame Biden's inflation. And under Biden, inflation averaged nearly 5% and hitting 9.1% during the worst inflation crisis in decades. All of it fueled by radical left out of control government spending. In President Trump's second term, inflation has dropped to an average of just 2.7%, significantly lower than the four year average of 5% under Biden and 9.1% at its all time high. The critical first step in reversing the Democrats cost of living disaster. In fact, under President Trump, Americans have even seen the first overall price declines since 2020 in several different categories. Now, Americans have made real wage gains as well. And there's still work to do The White House says as well. But let's remind you about where we were. Under Biden, workers lost more than $2,900 in purchasing power, meaning inflation rose faster than wages in President Trump's second term. Even after accounting for higher prices, America's real wages have grown by nearly $700 and are on track to increase by nearly 1,200 after his first full year in office. And then there's the major prices that we deal with every day. Gas price is a great example. Under Biden, the average gas price was the highest it had ever been during a presidential term, reaching its highest ever price even after he drained our strategic oil reserves to artificially decrease pricing before election Day. President Trump's second term. Americans have seen the lowest average gas price in more than four years in. And we're on track to spend the lowest amount of their disposable income on gas in the last two decades. As President Trump's energy dominance vision continues to come to fruition, energy prices, they say, will fall even further, igniting another price decline that will help all Americans. Now, if you're not happy with the price of the pump, let's talk about grocery prices and housing. Prices are trending also in the right directions for American workers. Prices for everyday staples are starting to see declines. Finally, under Donald Trump, prices for eggs, for butter, ice cream, fresh fruit, cereal, fish, seafood, rice, pasta and ham have all seen declines. And more help is on the way. Housing costs are also moderating under Biden. Mortgage rates hit their highest in decades in President Trump's second term. The average 30 year fixed rate mortgage was 6.17% at the end of October, 12% lower than when he took office. That according to the Consumer Price Index. In fact, the 12 month change in overall shelter costs is at its lowest level in four years as well. Now there are other efforts to continue driving prices down. The President talked about it tonight, ramping up take home pay and strengthening our economy. President Trump's deregulatory efforts are also saving Americans a collective 180 billion. What does that mean for you? $2,100 per family of four. For example, President Trump halted burdensome Biden era efficiency standards that jacked up the price of everyday appliances. And President Trump signed into law the largest tax cut in American history. This includes no tax on tips, no tax on overtime, and no tax on Social Security, all of which will save Americans money in their tax returns. The landmark legislation will raise America's take home pay by as much as 13,300 and wages by as much as 11,600. So the President decided to take the stage to talk about exactly where we are. And I want you to hear what the President had to say.
