Scott Besant

We concluded that we have shared interest and we both have an interest in balanced trade. The U.S. will continue moving towards that.

To rip somebody out of her life that has been her best friend for almost three years, you have no way to explain to her, oh, Alanis is being kicked out of the country and she can't come back.

There doesn't have to be a recession. Who knows how the market is going to react in a day, in a week. What we are looking at is building the long-term economic fundamentals for prosperity that I think the previous administration had put us on the course toward financial calamity.

You know, the innies are in a way, you know, in a prison. So that's to me, you know, the question is, like, how are these people, the human aspect of, you know, who they are, how is that going to eventually change? It has to come out, this need for connection, this need for love, regardless of even the Audi and any sharing that feeling.

There's this ongoing blame game within the healthcare industry that makes it just really confusing to understand, like, why this problem exists in the first place.

The bottom line is, like, you can look across a bunch of different metrics, but one consistent finding across them, when you compare the United States to healthcare in other wealthy countries, what you always find is that the U.S. pays more money for healthcare, and on average, you know, taken collectively, gets worse outcomes.

That's been the pattern of health care politics, is people get really mad about it, but then either nothing happens or somebody tries to change something and then voters punish them. We saw this like back in the 90s with the Clinton health reform effort. We even saw it with Democrats in 2008 and 2010.

There's not just one blueprint for doing it. A bunch of different countries do it in a bunch of different ways, but they share that sort of underlying understanding or goal that we are going to cover everybody and provide some level of baseline medical coverage and services to anybody, no matter what. their ability to pay.

But the United States kind of stands alone as the wealthy country that has not done that. Like there are all kinds of ideas about what to do to try to make healthcare better, but getting everybody to agree on what to prioritize and where to focus is really hard when you've got this finger pointing within the healthcare industry about what the problem really is.

Bye-bye.

When people go through those experiences, it's one of the most fraught moments of their lives. Like they or somebody they love is probably experiencing a medical emergency. And on top of that, they're entering this, you know, Kafka-esque bureaucratic nightmare.

China is the most imbalanced economy in the history of the modern world and they are the biggest source of US trade problems and indeed they are problems for the rest of the world and President Trump responded very courageously to that and we are going to work on a solution with our trading partners.

My advice to every country right now is do not retaliate. Sit back, take it in. Let's see how it goes, because if you retaliate, there will be escalation. If you don't retaliate, this is the high water mark.

Thanks to President Trump's tireless efforts to secure a lasting peace, I am glad to announce the signing of today's historic economic partnership agreement between the United States and Ukraine establishing the United States-Ukraine Reconstruction Investment Fund.

This partnership allows the United States to invest alongside Ukraine to unlock Ukraine's growth assets, mobilize American talent, capital and governance standards that will improve Ukraine's investment climate and accelerate Ukraine's economic recovery. The Development Finance Corporation will participate and help to establish this fund in collaboration with the government of Ukraine.

Today's agreement signals clearly to Russian leadership that the Trump administration is committed to a peace process centered on a free, sovereign and prosperous Ukraine over the long term. It's time for this cruel and senseless war to end. The killing must stop, and both the United States and the government of Ukraine look forward to quickly operationalizing this historic economic partnership.

Great stuff. Tom, your thoughts?

a deal done done done done but i need to wait for their prime minister and their parliament to give its approval which i expect shortly i'm not going to tell you what country let the president just you and me here and a couple million people hopefully let the president decide so and then there are country after country where we're just working through the details but you have to remember they have prime ministers they have parliament they have to work through their process but all of these are going to be coming and what they're going to be is they're going to be incredibly smart

They're investing $165 billion in 1,100 acres in Arizona, and they're building the highest tech chip manufacturing semiconductors and 4,000 employees. You know, American tradecraft, right? Technicians doing every kind of work. The classic foundation of America. He's building it. They had 14,000 people.

They're expecting 40,000 people to build the rest of their plants and to employ 20,000 people for the rest of time. This is all driven. You never saw a site like that. And this is all driven by your tariff policies. No chance this would be happening without you.

Walmart will be absorbing some of the tariffs. Some may get passed on to consumers. We go back to your initial question on the Moody's downgrade. Who cares? Qatar doesn't. Saudi doesn't. UAE doesn't.

Right.

It's going to be us.

It is impossible to have an economic deal without a peace deal. The for an economic deal is that Ukrainian leadership wants a peace deal.

Well, it was supposed to be, but President Zelensky came into the Oval on Friday, There were three things that were going to be done. There was going to be a press conference. There was going to be a private lunch with 16 of us. And as you can see from Dan Scavino's post on his ex-account, we were already set up to sign the deal. So it's unclear now.

President Zelensky has thrown off the sequencing.

The market and the economy have just become hooked. We've become addicted to this government spending, and there's going to be a detox period.

I'm confident if we have the right policies, it'll be a very smooth transition.

We are trying to transition from public to private. I talked about we are going to have safe and sound regulation to get our banking system going again. So the banks should be generating loans to private companies employment should be from private companies, not from government. And I'm confident if we have the right policies, it'll be a very smooth transition.

Play this clip. The 18 key trading relationship. The president described them to the trade team as bespoke. Every deal is different and he's going to be involved. So I'll wait to hear from him.

Larry, it's just the momentum. It is President Trump, the amount of momentum, the transparency, the energy that he has brought back to Washington. As you said earlier, the common sense, look at the success on securing the border. Everyone said, oh, this can't be done. And some of the targets that the Biden administration had were in the tens of thousands.

And I think a few weeks ago, nine people came across the border, most of whom we let in for decades.

As I've said many times, I think from the Chinese side, these high tariffs are unsustainable. I believe that U.S. buyers did a substantial amount of pre-ordering, and now the factories in China are having to shut down. And I've seen some very large... estimates of potential worker layoffs if these tariffs stay in place.

So what I can tell you is the tariffs are unsustainable on the Chinese side, that we have a deficit with them. The surplus country always suffers more. And they sell us roughly five times more than we sell them. Subdeals.

I believe that he is referring to sub deals within the negotiations we're doing.

This is what we're doing. We're reprivatizing it.

Here, play the clip. Private sector will not be crowded out anymore. All the jobs created by the Biden, not all, but the 70, 80, 5% of the jobs created by the Biden administration were government jobs, government adjacent. They crowded out the private sector. The government interest rates spiked.

I would just point out, interest rates are down five weeks in a row on the tenure since President Trump took office. And mortgage rates are down. We're going to get that down. I was sitting next to, I noticed you're going to have Governor Youngkin later. I was sitting next to him on Friday. And I said, Governor, how do you feel about these layoffs? in Northern Virginia.

And he said, Scott, I think there's, I think he told me there's something like 350,000 private sector job openings in Virginia. State of Virginia has a portal. So there are plenty of private sector jobs and those are good paying. And we're going to reprivatize this economy like President Trump promised.

We're just trying to reprivatize it.

A learning curve, Scott. In this meritocratic administration, a learning curve at the Pentagon? Yeah.

Brett, I've got to say that President Trump wants to make the penny extinct, and that's part of the cost savings, cost of it. Three cents to make one cent. Even in Washington, that math doesn't work. So it's going soon. It's going soon. Okay.

Tom, please do. Please do. Say what's on your mind. It's a holiday.

You started the morning saying, be cool.

All this was, again, this was driven by the president's strategy. He and I had a long talk on Sunday, and this was his strategy all along. And you might even say that he goaded China into a bad position, they responded. They have shown themselves to the world to be the bad actors. And we are willing to cooperate with our allies and with our trading partners who did not retaliate.

It wasn't a hard message. Don't retaliate. Things will turn out well.

The president talked all the time during the campaign about tariffs. He put them at the centerpiece of his policy. He talked about the glory days of the 1800s and wanting to go back to him. Did Republicans just not take him seriously?

Mr. Secretary, the campaign's over. You won. So I'm asking what the plan is. So the Treasury secretary said on another network, we're going to hold the course. It's not the kind of thing you can negotiate away in days or weeks. That makes it sound like the tariffs are staying in place at least for days or weeks. Is that correct?

Or is the president considering postponing implementation to negotiate?

We don't have zero-zero, actually, because when we saw the president stand in the Rose Garden holding up that chart that you helped make, That wasn't actually tariffs. That was actually confusing to investors because it was some kind of other formula, and the countries themselves seemed kind of random.

Like, why are the herd in McDonald Islands, which don't export to the United States and are quite literally inhabited by penguins, why do they face a 10% tariffs? Did you use AI to generate this?

Again, Laura, that I think a lot of American businesses have pre-positioned a lot of inventory. The trade deficit actually jumped because so many people bought in advance. And the companies that I've talked to have done that. We are going to stick to our guns. But again, the US and China have shared interests. They are the deficit country, though.

They sell us about four times more than we sell them. So it would be felt harder in China.

Well, Laura, in game theory, it's called strategic uncertainty, what you're talking about. Nobody does it better than President Trump. And it can be unsettling for the markets. But why are they unsettled? Because they have a lack of information. President Trump has asymmetric information for what he's willing to do. We don't disclose it. And again, with President Trump...

that the strategic uncertainty will make sure that we get the best deal possible. That's what's happening. What are they talking about?

Let's play this clip. The other thing, too, is this reporter behind me was quite snarky the other day when President Trump talked about the girl having two dolls. And he said, well, what... President didn't take the question, but he said, what would you tell that girl?

I said, I would tell that young girl that you will have a better life than your parents, that you and your family, thanks to President Trump, can now be confident again that you will have a better life than your parents, which working class Americans had abandoned that idea. Your family will own a home. You will be able to advance. You will have a good education. You will have economic freedom.

Sorry? Who pays tariffs?

Excuse me.

Well, Congressman, if the... Congressman, if the exporters... They dislike tariffs so much. Why wouldn't they if I think what you're trying to get me to say.

It's a very complicated question.

I'm reclaiming my time, Mr. Secretary.

That's what we are advancing.

No. No. Generally no. No.

But you don't recall him being there? Congressman, I did not recall that individual's name, but that individual was terminated. He was terminated.

Not by Treasury, sir.

No, no, no.

Sorry?

Excuse me.

Well, first of all, sir, I've had meetings with more than 50 small lenders and So I want to clarify that. I would also say that in game theory, strategic uncertainty, of which you seem to like the name Crazy Ivan. Well, it's your words, correct? Didn't you use Crazy Ivan? Well, you've used it five times. Answer the question, Mr. Chairman.

He wants to answer other questions. Well, Congressman, if the... Congressman, if the exporters... They dislike tariffs so much. Why wouldn't they if I think what you're trying to get me to say.

I am saying the strategic uncertainty is part of negotiations. Should we say, oh, here's what we'll accept. Please take this.

Sir, the history would show that it is a complicated mix of who pays the tariffs over various times.

It's a very complicated question.

I'm reclaiming my time, Mr. Secretary.

uh so do you think that was compelling i mean it's interesting tactic it's a little saul linsky-esque in the sense that you've got george soros and jd pritzker and reid hoffman and all these billionaires who've spent far more than must did in this and now pointing say wait a minute i don't think they spent on this they didn't well collectively if you look at all the money from outside that was given to her again 77 of it came from out of state only 15 came from shimmel and collectively

a number of the analysis. I'm just saying like in terms of the money from individually, if you look at the whole outside money that came from out of the state, it's clearly you don't think it was a referendum on Musk at all, though. Oh, I think it had a part. I think a lot of different issues.

Well, I can look at it from another direction. I think the Schimel campaign was really struggling both financially and just in terms of traction before Musk got involved. He may have actually, you know, given whatever boost he had late.

But it didn't solve for the issue that the Republicans have, which is these low propensity voters and trying to get them to turn out for things that are not Donald Trump. You heard Elon Musk, I think correctly, try to tie a vote in the Supreme Court race to much larger, you know, macro political issues. but it wasn't enough. And so that is an equation the Republicans have to solve for.

I don't think it's gonna be an issue in 28, but look, you got a midterm between now and then. It will be an issue in these midterms, and that's something the party strategists are gonna have to deal with.

But it shouldn't be lost on your viewers that George Soros has poured millions of dollars in, and the Democratic governor of Illinois, the state to the south of Wisconsin, has also poured millions in. Why? Because the left wants to drive forward a radical agenda.

In the state of Wisconsin, we're concerned about parental rights, school choice, voter integrity, and that is why in Wisconsin we're working so hard to get Brad Schimel on the court.

Brian, probably you get the best reviews of anyone in the administration outside the president. Your thoughts about the U.S.-China standoff right now?

Well, Brian, first of all, it's all the president, especially on the 18 important trading partners. We're doing bespoke deals, and he's going to be intimately involved.

in every one two weeks ago when we had the japanese delegation come in he started it in the oval and then we took them into the negotiating room so he laid the groundwork told them personally how important the relationship was but also how important a fair deal for the american people is so uh and do you see there that state regime media fox brian kilmeade goes outside of the president

Probably you get the best reviews of anyone in the administration outside the president. Your thoughts about the U.S.-China deal?

I believe that he is referring to sub-deals within the negotiations we're doing. And, Martha, if there are 180... But those aren't actual deals. Martha, if there are 180 countries, there are 18 important trading partners. Let's put China to the side because that's a special negotiation. There are 17 important trading partners. And we have a process in place over the next 90 days to...

Access to cheap goods is not the asset, is not the essence of the American dream. The American dream is rooted in the concept that any citizen can achieve prosperity, upward mobility and economic security.

Not at all, Kristen. What I'm saying is the American dream is not let them eat flat screens. If American families aren't able to afford a home, don't believe that their children will do better than they are, the American dream is not contingent on cheap baubles they have from China. that it is more than that, and we are focused on affordability, but it's mortgages, it's cars, it's real wage gains.

What? What is your message to Americans who want to retire right now and who've just seen their lifetime savings drop significantly?

No, no, no. Maria, what's going to happen on April 2nd, each country will receive a number that we believe represents their tariffs. So for some countries, it could be quite low. For some countries, it could be quite high. So There's not an automatic 25 plus 25 that's going to happen. And when the poll you just read, I think that that's a source of a lot of the consternation that's happening.

And what we can see here in the administration is President Trump is on what is seemingly an unstoppable role since January 20th.

Yeah, well, look, it was a silly question. Can you guarantee there's not going to be a recession? I can't guarantee anything. I can't guarantee that the journalist who asked me the question that her news program is going to be on in a year.

And they have substantial tariffs. And as important as the tariff are some of these non-tariff barriers where they have domestic content production, where they do testing on our, whether it's our food or products that bear no resemblance to safety or anything that we do to their products.

And one or two items with one trading block, I'm not sure why that's a big deal for the market.

What do you want to say about the Tara fight?

Look, Sarah, what we're focused on is the real economy. Can we create an environment where there are long-term gains in the market and long-term gains for the American people? I think having been in the markets for 35 years, I know the market is prone to big unwinds like this. I think we've seen a lot of position unwinding, and I can't really speak to that.

All this was, again, this was driven by the president's strategy. He and I had a long talk on Sunday, and this was his strategy all along. And you might even say that he goaded China into a bad position. They responded, they have shown themselves to the world to be the bad actors. And we are willing to cooperate with our allies and with our trading partners who did not retaliate.

It wasn't a hard message. Don't retaliate. Things will turn out well.

The hollowing out of the U.S. No, just yes or no. Yes or no. Yes or no. It's a national emergency, sir.

Persistent and prolonged. Yes, sir.

I yield two and a half minutes to the chair lady.

Trump.

Trump.

Trump.

Trump.

Trump.

Trump.

Trump.

Trump.

Trump.

Sir, we do not receive a penny in federal funding.

I did, sir.

That was around the time that I was receiving death threats and anti-Semitic messages.

I can't recall, sir, specifically when I went private.

So we've got a ceiling and then we can see if there's a different floor.

Before talking about the effects and that are bad, let me just say that I think that was the dumbest, most economically illiterate speech I have heard in my life. And I've heard a lot of bad ones. It was filled with lies and distortions, and I need to back that up. For example, the idea that the European Union has a 39% tariff rate on the United States.

the weighted average of EU tariffs on the US is 1%. Japan, which supposedly, according to Trump, had a 46% tariff rate, the weighted average of tariffs on US products is 3.2%.

Marcus Peterson, who was excellent, highlighted the fact that other countries which actually have high tariff rates, like Turkey, all of a sudden get favored treatment from Trump, at least relatively favored, by paying only 10%. What you had was someone who is the president of the United States speaking almost absolute nonsense.

And the biggest nonsense of all was the idea that tariffs can replace income taxes and that they will lead to economic growth. They won't. Now, how bad is this? You have varying rates across the board. You have 20% on the EU. You have 34% on China, even higher on some countries. lowest rates are still only going to be, you know, are still at least 10%.

The Aston Business School modeled this, and earlier this week came out and said, in the event of a 20 to 25% U.S. tariff, and we're roughly talking about that across the board, if the EU and other countries retaliate, the loss to the global economy will be $1.4 trillion, that is trillion with a T, dollars to the global economy.

The tax burden, effective tax burden on the US taxpayers will be $6 trillion with a T. This is one of the most, in addition to being economically illiterate speeches, it is accompanied by one of the most economically damaging actions that have been taken since the last round of high tariffs, which was in the 1930s, which helped lead to the Great Depression.

Nothing eminent.

Again, I'm not part of the negotiations. So, you know, we'll see. I am sure that there are going to be a lot of calls. I just don't know if they're going to be negotiations.

I'm not sure.

Well, I think there have been a lot of discussions, but I think we're just going to have to wait and see what would happen. What I would say, Anne-Marie, is I would advise none of the countries to panic. I wouldn't Try to retaliate because as long as you don't retaliate, this is the high end of the number. And I think the market could have certainty that this is the number barring retaliation.

Nothing eminent.

Again, I'm not part of the negotiations. So, you know, we'll see. I am sure that there are going to be a lot of calls. I just don't know if they're going to be negotiations.

I'm not sure.

And what we can see here in the administration is President Trump is on what is seemingly an unstoppable roll since January 20th.

Yeah, well, look, it was a silly question. Can you guarantee there's not going to be a recession? I can't guarantee anything. I can't guarantee that the journalist who asked me the question that her news program is going to be on it.

No, no, no. Maria, what's going to happen on April 2nd, each country will receive a number that we believe represents their tariffs. So for some countries, it could be quite low. For some countries, it could be quite high. So there's not an automatic 25 plus 25 that's going to happen. And the poll you just read, I think that that's a source of a lot of the consternation That's happening.

Tell me, how has Pakistan been for you? They want to participate in the digital financial ecosystem. They want to participate in what the future of finance looks like. And you really have to come here to see it. And we thank you and, of course, all of your countrymates for their hospitality. It's been nothing short of excellent.

We're trying to get rates down. And could we be seeing that... This economy that we inherited starting to roll a bit, sure. And look, there's going to be a natural adjustment as we move away from public spending to private spending. The market and the economy have just become hooked. We've become addicted to this government spending, and there's going to be a detox period.

There's going to be a detox.

As President Trump has said many times, tariff is his favorite word. I would say the reciprocal is probably his second favorite word. And I think we have to be open to the idea, if you want to be a numbskull like Justin Trudeau and say, oh, we're going to do this, then tariffs are going to go up.

But if you want to sit back, have a discussion with the Commerce Department, USTR, they all have my phone number too. I am happy to have a discussion with our foreign counterparts.

I think that's a false narrative. Americans who want to retire right now, Americans who have put away for years in their savings account, I think they don't look at the day-to-day fluctuations of what's happening.

Look, Chris, markets are organic animals, and you never know what the reaction is going to be. One thing that I can tell you as the Treasury Secretary, what I've been very impressed with is the market infrastructure. that we had record volume on Friday and everything is working very smoothly. So the American people, they can be very, take great comfort in that.

Sure. That was actually Tyler who said that.

David, so today when President Trump has signed the executive order to establish the Strategic Bitcoin Reserve and Stockpile, we're going to position the United States as a leader among nations in the digital asset strategy. It's important for the United States to recognize this fact and get ahead of the other nations in the digital age.

We applaud the president's direction to use the digital assets already in possession of the nation. And we are going to establish this Bitcoin reserve. We will use this authority to augment the assets side of the United States balance sheet. As I've said many times, President Trump is creating assets for the American people, while most past presidents have created debt.

And a large part of this asset program can be in digital assets.

And we are going to put a lot of thought into the stable coin regime. And as President Trump has directed, we are going to keep the U.S., the dominant reserve currency in the world, and we will use stable coins to do that. Thank you.

We're trying to get rates down. And could we be seeing that? This economy that we inherited starting to roll a bit, sure. And look, there's going to be a natural adjustment as we move away from public spending to private spending. The market and the economy have just become hooked. We've become addicted to this government spending, and there's going to be a detox period.

There's going to be a detox.

Could we be seeing that this economy that we inherited starting to roll a bit? Sure. And look, There's going to be a natural adjustment as we move away from public spending to private spending. The market and the economy have just become hooked. We've become addicted to this government spending, and there's going to be a detox period. There's going to be a detox.

Well, look, as you said, Joe, market was up 20% last year. So there is some house money. No, no, no. I'm going to put it another way. Did the Biden administration succeed? The American people weren't buying it. Just because the market was up, they voted out the Democrats.

Not at present. We have some great retailers. I assume they pre-ordered. I think we'll see some elasticities. I think we'll see replacements. And then we will see how quickly the Chinese want to de-escalate.

Plan on calling your counterpart? We will see what happens with China. That it's it's important. I think it's unsustainable from the Chinese side. So maybe they'll call me one day.

Well, look. That's why I believe it's unsustainable.

Well, Brian, first of all, it's all the president, especially on the 18 important trading partners. We're doing bespoke deals, and he's going to be intimately involved in every one. Two weeks ago, when we had the Japanese delegation come in, he started it in the Oval, and then we took them into the negotiating room.

So he laid the groundwork, told them personally how important the relationship was, but also how important a fair deal for the American people is.

A partnership between Ukraine and the US that involves strategic minerals, energy and state-owned enterprises where we set up a partnership and we are only looking forward. It is a win-win. President Trump created this idea himself. It is a win-win. We make money if the Ukrainian people make money.

And I believe that with the United States of America, our know-how, our businesses willing to come in and provide capital, that we can accelerate the Ukrainian growth trajectory and take in substantial monies for the U.S. taxpayers and get the Ukrainian economy on a growth, great growth trajectory.

I was on the phone with Doug McMillan, the CEO of Walmart, yesterday. And Walmart is in fact going to, as you described it, eat some of the tariffs. Just as they did in 2018, 2019 and 2020. The other thing that we are seeing, that Doug passed along to me, that with their consumer, the single most important thing is the gasoline price. And gasoline prices have collapsed under President Trump.

I say that the gifts are to the American people, these trillions of dollars of investments that are going to create jobs in the US, whether it's the UAE building this gigantic aluminum plant in Oklahoma, whether it's these data centers that Qatar is going to do, is 600 billion on its way to a trillion from Saudi, that it all accrues to the American people.

Hier ist die Rate. Ich würde also erwarten, dass alle in gute Glauben negotieren würden.

Ich glaube, es wäre der 2. April-Level. Manche Länder waren bei 10%, manche waren substanziell höher. Und die Negotiationsleistung, die Präsident Trump hier spricht, ist, wenn du nicht negotieren willst, dann wird es zurück zu dem 2. April-Level springen.

A couple of things to unpack there, Jake. One is that we didn't get her overnight in terms of this terrible trade situation we have with China, but also with the rest of the world. And President Trump is... Okay, well let's just assume strategic uncertainty is your goal.

Access to cheap goods is not the essence of the American dream. The American dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security.

I think that's a false narrative. Americans who want to retire right now, Americans who have put away for years in their savings account, I think they don't look at the day-to-day fluctuations of what's happening. And, you know, in fact, most Americans don't have everything in the market. Most Americans in a 401k have what's called a 60-40 account.

that 60 of 40 accounts are down 5% or 6% on the year. People have a long-term view. They have a program that the reason the stock market is considered a good investment is because it's a long-term investment. If you look day-to-day, week-to-week, it's very risky. Over the long term, it's a good investment.

Well, Congressman, if the... Congressman, if the exporters... They dislike tariffs so much. Why wouldn't they, if I think what you're trying to get me to say- Did you remember the question? I'm not sure you did. Who pays tariffs? It's a very complicated question.

The other thing, too, is this reporter behind me was quite snarky the other day when President Trump talked about the girl having two dolls. And he said, well, what... President didn't take the question, but he said, what would you tell that girl?

I said, I would tell that young girl that you will have a better life than your parents, that you and your family, thanks to President Trump, can now be confident again that you will have a better life than your parents, which working class Americans had abandoned that idea. Your family will own a home. You will be able to advance. You will have a good education. You will have economic freedom.

That's what we are advancing.

Thank you.

Please, Scott. Sir, it's been a momentous 100 days with you at the helm. And I view this 100 days as setting the table for peace deals, trade deals, tax deals. So the next 100 days will be harvesting. You've created negotiating leverage and leadership. They're going to yield remarkable results. Energy costs have plummeted. Mortgage rates are down. Food costs are moving lower.

And American families are finding their financial footing again.

Most Americans in a 401k have what's called a 60-40 account.