Carol Roth

You know, Glenn, I just found out that we've only been in this administration for a month and a half-ish.

You know, Glenn, I just found out that we've only been in this administration for a month and a half-ish.

You know, Glenn, I just found out that we've only been in this administration for a month and a half-ish.

And I feel like it's been 16 years. I know. There's so much going on that I'm just trying to process it out. When someone said, oh, it's only been a month and a half, I went... Yeah, my mind was blown.

And I feel like it's been 16 years. I know. There's so much going on that I'm just trying to process it out. When someone said, oh, it's only been a month and a half, I went... Yeah, my mind was blown.

And I feel like it's been 16 years. I know. There's so much going on that I'm just trying to process it out. When someone said, oh, it's only been a month and a half, I went... Yeah, my mind was blown.

Yes. So, you know, we've talked about before that the economic situation is not really what it was presented to be. You know, we heard under Biden and certainly during election season, what a wonderful economy we had, all of these really great statistics on employment and growth.

Yes. So, you know, we've talked about before that the economic situation is not really what it was presented to be. You know, we heard under Biden and certainly during election season, what a wonderful economy we had, all of these really great statistics on employment and growth.

Yes. So, you know, we've talked about before that the economic situation is not really what it was presented to be. You know, we heard under Biden and certainly during election season, what a wonderful economy we had, all of these really great statistics on employment and growth.

And it's become very clear, well, it was very clear to all of us before we've talked about it, something that Secretary of the Treasury Scott Bassett talked about in a speech a couple weeks ago, is that really the economic foundation is incredibly fragile.

And it's become very clear, well, it was very clear to all of us before we've talked about it, something that Secretary of the Treasury Scott Bassett talked about in a speech a couple weeks ago, is that really the economic foundation is incredibly fragile.

And it's become very clear, well, it was very clear to all of us before we've talked about it, something that Secretary of the Treasury Scott Bassett talked about in a speech a couple weeks ago, is that really the economic foundation is incredibly fragile.

And what we've had the Biden administration do, which was exceptionally nefarious, is that they decided that they were gonna spend to paper over the weakness of the economy. So if you remember, I think it was back in 2022, we had those two down quarters of GDP, which is a technical recession, which for some reason, by the way, they said was not a recession.

And what we've had the Biden administration do, which was exceptionally nefarious, is that they decided that they were gonna spend to paper over the weakness of the economy. So if you remember, I think it was back in 2022, we had those two down quarters of GDP, which is a technical recession, which for some reason, by the way, they said was not a recession.

And what we've had the Biden administration do, which was exceptionally nefarious, is that they decided that they were gonna spend to paper over the weakness of the economy. So if you remember, I think it was back in 2022, we had those two down quarters of GDP, which is a technical recession, which for some reason, by the way, they said was not a recession.

I'm sure if Trump had two down quarters, they would say it was, but it had a D in front of it, so it wasn't. And then we came out of it, and then it was pretty clear that we were gonna go into this double dip recession. And so what did they do? They decided to increase government spending. which is very inefficient spending.

I'm sure if Trump had two down quarters, they would say it was, but it had a D in front of it, so it wasn't. And then we came out of it, and then it was pretty clear that we were gonna go into this double dip recession. And so what did they do? They decided to increase government spending. which is very inefficient spending.

I'm sure if Trump had two down quarters, they would say it was, but it had a D in front of it, so it wasn't. And then we came out of it, and then it was pretty clear that we were gonna go into this double dip recession. And so what did they do? They decided to increase government spending. which is very inefficient spending.

And we've been running deficits as a percentage of GDP that are at wartime levels. We're talking 6% to 7% of GDP. The historical average is somewhere around 3% or 3.5%. So about double what you might see on average. When you have a good economy, you would actually expect that to be much lower because you're getting more receipts. And that's what happened. We had more receipts.

And we've been running deficits as a percentage of GDP that are at wartime levels. We're talking 6% to 7% of GDP. The historical average is somewhere around 3% or 3.5%. So about double what you might see on average. When you have a good economy, you would actually expect that to be much lower because you're getting more receipts. And that's what happened. We had more receipts.