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Verdict with Ted Cruz
BONUS POD: America’s Economy Rebuilding after Biden Disaster as Trump Promises Stronger, Better Than Ever
00:15:43
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- [00:00]
Donald Trump
This is an iHeart podcast.
- [00:04]
iHeart Podcast Announcer
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iHeartRadio Host
You know what your customers are doing right this second? The exact same thing. You are listening to me. Which, let's be honest, is kind of flattering. But my point Is, ads on iHeartRadio actually get heard in the car, at the gym, on the couch while people are walking their dogs. Who's a good boy? Who's a good boy?
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Donald Trump
You're a good boy. That's right dude, you're a good.
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iHeartRadio Host
So why not make the next ad about you? Get started today. Call 844-844-IHEART or go to iheartadvertising.com that's 844-844-iheart or iheartadvertising.com.
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Ben Ferguson
Your voice sounds a little rough. Are you feeling all right?
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Donald Trump
I feel great. I was shouting at people because they were stupid about something having to do with trade and a country and I straightened it out, but I blew my stack at these people.
- [01:53]
Ben Ferguson
You're listening to the 47 Morning Update with Ben Ferguson. Good Tuesday morning. It's nice to have you with us on the 47 Morning Update and it is 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 an amazing opportunity right now that I'm involved in and I cannot wait for you to take advantage of it. I want you to take some incredible courses at Hillsdale College for free. You may not know this, but Hillsdale College has been influencing conservatives like myself for decades. They had a huge impact on Charlie Kirk's life. And even as memorial service, they talked about how Charlie took class after class after class at Hillsdale College. Hillsdale College is now offering for you, the listeners of this show, more than 40 free. I want to say that again, Free online courses. That's right. More than 40 free online courses. You can learn about the works of C.S. lewis, the stories in the book of Genesis, the meaning of the US Constitution, the rise and fall of the Roman Republic, the history of the ancient Christian church, all with Hillsdale College's free online courses. Right now, I'm personally taking the Constitution 101. In this course, you're going to explore the design and the purpose of the Constitution, the challenges it faced during the Civil War and how it has been undermined for more than a century by radical progressives and liberals. This 12 lecture course is self paced. It's another reason why I love it. So start whenever and wherever in our country. We need more Americans like you and I that understand the Constitution and can defend the freedom of the American people against the left and their increasing encroachments on our God given rights. So start your classes today for free. Start your free Constitution 101 course right now. How do you do it? Go to Hillsdale. Eduardo slash Morning Update to enroll. And it's no cost. It's easy to get started. You got to use a special website, Hillsdale EDU Morning Update. Enroll for free Hillsdale EDU MorningUpdate. It's the 47 Morning Update and it starts right now. Story number one, President Trump going on offense, reminding the American people of what America looked like before, before he became president the second time. And also reminding you what Democrats want to do this country economically and reminding you about what all has already been accomplished in the last nine months. As the President described it, we're making big progress on prices and we'll keep working to make sure everyone benefits. 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. 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 air, 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.
- [10:23]
Donald Trump
While Democrats wanted to give Americans the largest tax hike in history, in July, I proudly gave you the largest tax cuts in American history and signed the one big beautiful bill. I caught the great big beautiful bill into law that includes no tax on tips, no tax on overtime, and no tax on Social Security for our great seniors. That is a big deal.
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Ben Ferguson
It's amazing what the President has accomplished already this year. But the President says I'm not done there. And made a pledge to the American families. No matter if you're rich or poor, conservative or liberal, black or white, or anything else in between, here's what the President pledged to you.
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Donald Trump
In my first term, we built the greatest economy in the history of the world. And now we're doing it again. But this time it's, it really is, as I said, much stronger, much better. I think it's going to be something that nobody has ever seen before. My pledge to every family and every small business is that I will not rest until you are richer, stronger, more successful, happier, until you've gotten a piece of the American dream. Some of you in this room have really gotten a piece of it because you made a great decision to Go with a great, great company years ago. And it's really pretty amazing that begins with making America. We have to do. The word is affordable. And affordable is should be our word, not theirs. Because the Democrats got up and took affordability. Affordability. And they don't say that they had the worst inflation in history, the highest energy prices in history. Everything was the worst.
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Ben Ferguson
President Trump is bringing jobs and investments back to the US as part of his plan to expand America's economy. In fact, since President Trump took office, companies have invested trillions, I want to say that word again, trillions of dollars into their US Based operations on shoring and creating hundreds of thousands of new jobs for Americans. President Trump is also reducing the deficit. A combination of spending cuts, interest savings, economic growth and tariff revenues are expected to reduce the deficit by trillions of dollars, resulting in higher take home pay, lower interest rates and a much stronger American economy. In fact, 1.9 million more American born workers are employed today than when President Trump took office. That's 1.9 million Americans who are now happily at work with a job right now. The US has more people working now than at any time in the history of our country. And the Trump administration, he says, will not rest until the high prices that resulted from Democratic policies are fully reined in. He said we're making progress. And the best, he says, is yet to come.
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Donald Trump
We're making tremendous progress. 1.9 million more American born workers are employed today than when I took office. Think of that. 1.9 million more today. And these are American born workers. Nobody thought that was possible. And we have the strongest borders in the history of our country. Nobody comes in unless they come in legally. You see the numbers. Everyone thinks it's impossible. A year ago, millions of people were storming our borders. Today, they only come in if they come in legally. And wages for hourly workers are rising at the fastest pace in 60 years.
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Ben Ferguson
Now, the President also made it clear that there's a lot when it comes to trade deals. We're seeing trade deals with Switzerland that have just been announced and we're modifying tariffs for certain agricultural products. In fact, on Friday, President Trump signed an executive order exempting certain qualifying agricultural products from the reciprocal tariffs that he first announced on April 2. Exemptions are accordingly set to be granted following a spat of new trade deals being inked with some of our biggest allies in the Western Hemisphere, in addition to deals that President Trump has already secured with the eu, Japan, the UK and other major trading partners. What will this do? Well, it will give substantial progress in Making sure that American workers are able to export at the same level that we're importing. And Donald Trump also made it clear that there are major investments coming into this country. And the tariff money that is being used to help American workers, something that the left and the media said was impossible. Take a listen about that.
- [14:53]
Donald Trump
And to your leader who, when we met, I said, how are you doing with prices? Prices are coming down. He said, we were up 40% because of Biden and inflation. And they're coming down and they're coming down rapidly. So I hope that all continues to go. But we're really doing well as a country. Most importantly, however, I will tell Big Picture. We have over $17 trillion being invested in our country in nine months. It's now just about ready to crack 18. And by the end of one year, we will have about 20 to 21 trillion dollars invested on our country. That's more by 10 times the highest amount ever invested in any country ever before. And it's largely because of tariffs and I think November 5th election, but it's the largest amount as an example. So if we have 20 or 21 in one year, 21 trillion, think of what that is. That's car factories. That's AI. It's everything. They're all coming back because of the tariffs. They're all coming back because they don't want to pay 15, 20, 30, 100% tariff. It wasn't that complicated. People are saying, you know, Trump was right, it really wasn't that complicated. But. But it's been amazing. As an example, if you take me at 20 for one year, Sleepy Joe Biden, you know what? He was less than one for four years. And if they got elected, they would have been at minus 10 because people were moving out of the country in record numbers.
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Ben Ferguson
So I hope you'll take the info that I gave you today, and I hope you'll share it wherever you can on social media, share this podcast and text messages with family and friends. Because this is the reality of what's happening. And it's the complete opposite of what the left and the media are selling the American people. They believe that they are successful right now in convincing most Americans that somehow the economy is a disaster because of Donald Trump and that things aren't getting better. In fact, they're getting worse. But if you look at the facts, that's just not the truth. Thank goodness. Because of President Donald Trump and his incredible leadership.
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iHeartRadio Host
Thank you for listening to the 47.
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Ben Ferguson
Morning Update with Ben Ferguson. Please make sure you hit subscribe wherever.
- [17:07]
iHeartRadio Host
You'Re listening to this podcast right now.
- [17:10]
Ben Ferguson
And for more in depth news, also.
- [17:12]
iHeartRadio Host
Subscribe to the Ben Ferguson Podcast, and we will see you back here tomorrow. You know what your customers are doing right this second? The exact same thing. You are listening to me, which, let's be honest, is kind of flattering. But my point Is, ads on iHeartRadio actually get heard in the car, at the gym, on the couch, while people are walking their dogs.
- [17:34]
Donald Trump
Who's a good boy?
- [17:35]
iHeartRadio Host
Who's a good boy?
- [17:36]
Donald Trump
You're a good boy. That's right.
- [17:38]
iHeartRadio Host
So why not make the next ad about you? Get started today. Call 844-844-IHEART, or go to iheartadvertising.com. that's 844-844-Iheart or iheartadvertising.com.
- [17:48]
Donald Trump
This is an iheart podcast.