Scott Bessent

which is what the Biden administration did.

And it meant many commentators, whether it was Greg Ip in the Wall Street Journal, the toxic Paul Krugman, who seems to have been booted from the New York Times and is relegated to Substack, or the former vice chair of the Fed, Alan Blinder.

And they said, oh, no, you don't understand how good you have it.

Eat your grit.

Drink your grog, have your bread, peasants.

We'll give you a little more that you... It's a vibe session, and we're going to explain to you why you have it really good.

We understand that the American people are hurting, and I think the way to think about it is there's a price level that things...

appreciated to during the Biden administration, then there is the inflation level.

The price level has gotten very high.

I think cumulative CPI during the Biden administration was 21, 22%.

There's a Wall Street firm called Strategas Research.

They do something called the Common Man Index, and it is what working families need, gasoline, insurance, autos, mostly used cars, rent,

staples, and that appreciated by about 35%.

So people are seething over the high price level.

And as we saw in the inflation print this week, inflation is starting to turn down.

And affordability is two parts.

It is getting the price up.

is under control.

Some things we can decrease.

Gasoline is coming down substantially.