1 00:00:05,120 --> 00:00:09,080 Speaker 1: Live from the heart Bland and the crossroads of America. 2 00:00:10,480 --> 00:00:33,200 Speaker 1: It's Tony Katz today, so jd. 3 00:00:33,360 --> 00:00:40,080 Speaker 2: Vance is speaking in Wisconsin. He was given the marching orders. Okay, 4 00:00:40,159 --> 00:00:42,040 Speaker 2: here's what the State of the Union said, here's what 5 00:00:42,080 --> 00:00:43,960 Speaker 2: we're doing. Here's how we're going to address the so 6 00:00:44,040 --> 00:00:47,960 Speaker 2: called affordability conversation. Although we should be clear there's some 7 00:00:48,000 --> 00:00:50,600 Speaker 2: things that are still too expensive, and it's the administration 8 00:00:50,680 --> 00:00:55,480 Speaker 2: needs to work on those things. But we've got a message. 9 00:00:55,760 --> 00:00:57,640 Speaker 2: And there's one thing I take from the State of 10 00:00:57,680 --> 00:01:01,400 Speaker 2: the Union is that this idea that somehow Republicans are 11 00:01:01,440 --> 00:01:04,520 Speaker 2: in disarray, it's complete in Santitay, it's again this narrative 12 00:01:04,560 --> 00:01:06,640 Speaker 2: conversation and the narrative. 13 00:01:06,560 --> 00:01:09,959 Speaker 3: Agree with story. I completely agree with you, Tony, that 14 00:01:10,080 --> 00:01:10,520 Speaker 3: right there. 15 00:01:10,600 --> 00:01:12,720 Speaker 2: Center, Hold on one second, let me introduce you, let 16 00:01:12,760 --> 00:01:15,280 Speaker 2: me let me do my job, Tony Katz, Tony Kats Today, 17 00:01:15,280 --> 00:01:17,880 Speaker 2: it's Center Todd Young from the state of Indiana who 18 00:01:17,880 --> 00:01:19,720 Speaker 2: invited me to the State of the Union. He is 19 00:01:19,760 --> 00:01:23,640 Speaker 2: the reason I was there and always to hear from 20 00:01:23,720 --> 00:01:28,840 Speaker 2: you on the on this conversation is you know, uh, 21 00:01:29,600 --> 00:01:31,840 Speaker 2: You're not a guy I would ever call maga by 22 00:01:31,880 --> 00:01:34,559 Speaker 2: any stretch of the imagination. But there are these places 23 00:01:35,040 --> 00:01:39,200 Speaker 2: where you have absolute agreements with the administration and uh 24 00:01:39,920 --> 00:01:43,440 Speaker 2: see opportunities. So let's start with this, this idea that 25 00:01:43,480 --> 00:01:49,800 Speaker 2: the Republicans are in disarray. What say you from the inside. 26 00:01:48,560 --> 00:01:54,120 Speaker 3: Yeah, you know, I always think the best thing to 27 00:01:54,240 --> 00:02:03,160 Speaker 3: do when you start to hear about anxiety and uncertainty, 28 00:02:03,360 --> 00:02:07,560 Speaker 3: and that's our current political environment right now, is just 29 00:02:07,600 --> 00:02:10,639 Speaker 3: to calm the heck down. Man. We've got some people 30 00:02:10,680 --> 00:02:14,600 Speaker 3: freaking out. Some friends of mine, whether they're MAGA or 31 00:02:14,760 --> 00:02:20,519 Speaker 3: just generic conservative Republican people are freaking out. And listen, 32 00:02:20,560 --> 00:02:23,840 Speaker 3: look at the polling. Trust your gauges is the pilots 33 00:02:23,919 --> 00:02:28,120 Speaker 3: like to say, The polling shows Republicans are still preferable 34 00:02:28,160 --> 00:02:35,079 Speaker 3: to Democrats on every issue that matters the economy, crime, immigration, 35 00:02:36,240 --> 00:02:42,720 Speaker 3: foreign conflicts, terrorism. Republicans are still trusted. And that, admittedly 36 00:02:42,800 --> 00:02:49,320 Speaker 3: is a function largely of the dysfunction and incompetence of 37 00:02:49,360 --> 00:02:53,040 Speaker 3: the left and of Joe Biden in particular, and many 38 00:02:53,919 --> 00:02:59,960 Speaker 3: Democratic leaders in Congress and beyond. But the polling says 39 00:03:00,120 --> 00:03:04,680 Speaker 3: we still are more trusted. So we start there. Are 40 00:03:04,720 --> 00:03:11,239 Speaker 3: we optimizing our opportunities right now? No, we need to 41 00:03:11,240 --> 00:03:14,480 Speaker 3: be disciplined we have not been. We need to stay 42 00:03:14,520 --> 00:03:17,840 Speaker 3: on message. We have not We need to inform the 43 00:03:17,840 --> 00:03:20,760 Speaker 3: American people all the great things we have done, and 44 00:03:20,800 --> 00:03:25,000 Speaker 3: we have done many. But I start there, Tony, and 45 00:03:26,120 --> 00:03:29,080 Speaker 3: I think the President did a good job of unpacking 46 00:03:29,120 --> 00:03:32,960 Speaker 3: some of those value propositions for the American people for 47 00:03:33,000 --> 00:03:37,440 Speaker 3: the next number of years and explaining what Republicans are 48 00:03:37,440 --> 00:03:41,280 Speaker 3: all about. But that was the starting gun. And now 49 00:03:41,320 --> 00:03:44,840 Speaker 3: we really need to tease out what we did on 50 00:03:45,000 --> 00:03:50,360 Speaker 3: the largest tax cut in American history and elaborate on 51 00:03:50,520 --> 00:03:55,400 Speaker 3: that is I could do. We need to Yes, you. 52 00:03:55,760 --> 00:03:59,120 Speaker 2: Sit there through the speech? Is it? Is it what 53 00:03:59,200 --> 00:04:01,960 Speaker 2: you thought? He address? You know, a lot of this 54 00:04:02,240 --> 00:04:05,200 Speaker 2: was thanking this person, thanking that person, telling this this 55 00:04:05,320 --> 00:04:08,120 Speaker 2: real story of American greatness, of American heroes, of not 56 00:04:08,160 --> 00:04:11,880 Speaker 2: forgetting people, saying thank you, of recognizing sacrifices. There was 57 00:04:11,920 --> 00:04:16,200 Speaker 2: a lot of that which was not just emotional push pull, 58 00:04:16,600 --> 00:04:19,640 Speaker 2: but rather a recognition of who we are as Americans. 59 00:04:19,720 --> 00:04:19,840 Speaker 3: Right. 60 00:04:19,880 --> 00:04:21,720 Speaker 2: It was telling its own story as much as it 61 00:04:21,839 --> 00:04:27,200 Speaker 2: was about anything else, but the idea of specific policy conversations. 62 00:04:27,400 --> 00:04:29,400 Speaker 2: Were the things you wanted the President to talk about 63 00:04:29,440 --> 00:04:31,480 Speaker 2: that he didn't, or were there things that he did 64 00:04:31,520 --> 00:04:34,680 Speaker 2: talk about where you were, like, that's I'm thrilled that 65 00:04:34,839 --> 00:04:35,920 Speaker 2: was something he brought up. 66 00:04:38,320 --> 00:04:43,160 Speaker 3: Well, I'm thrilled that he called our attention to the 67 00:04:44,120 --> 00:04:49,880 Speaker 3: chief warrant officer, the pilot who threw great trial and 68 00:04:49,960 --> 00:04:55,440 Speaker 3: tribulation ensure that the Maduro snatch operation was successful. And 69 00:04:55,440 --> 00:04:58,480 Speaker 3: I don't think people realized just how close that whole 70 00:04:58,560 --> 00:05:02,120 Speaker 3: operation was towards not working. But it came down to 71 00:05:02,279 --> 00:05:05,800 Speaker 3: one man in his bravery, and he appropriately received the 72 00:05:05,800 --> 00:05:08,039 Speaker 3: Medal of Honor. So I was glad we got that. 73 00:05:08,120 --> 00:05:11,800 Speaker 3: I'm glad we saw that USA hockey team, and at 74 00:05:11,880 --> 00:05:15,039 Speaker 3: least hockey unifies the left and the right in this country. 75 00:05:15,640 --> 00:05:20,800 Speaker 3: So that was great. But you know, I think the 76 00:05:20,839 --> 00:05:27,920 Speaker 3: President could have talked more about just how important this 77 00:05:28,279 --> 00:05:31,360 Speaker 3: tax cut was to everyone. He mentioned it. I'm glad 78 00:05:31,400 --> 00:05:35,280 Speaker 3: he did. I don't say this critically, but who could 79 00:05:35,320 --> 00:05:37,919 Speaker 3: have spent a whole speech on that by to board 80 00:05:38,000 --> 00:05:42,200 Speaker 3: people to talk about tax cuts. But I thought that 81 00:05:42,320 --> 00:05:44,560 Speaker 3: was really important. I think that's gonna be a key 82 00:05:44,680 --> 00:05:50,360 Speaker 3: argument frankly as we head into more deeply into the midterms. 83 00:05:51,600 --> 00:05:57,120 Speaker 3: The Democrats. Democrats want to increase your taxes. The Democrats 84 00:05:57,160 --> 00:06:01,760 Speaker 3: are still the party of government. The Republican brand has 85 00:06:01,800 --> 00:06:05,320 Speaker 3: not changed over the years, and I think that we 86 00:06:05,360 --> 00:06:08,880 Speaker 3: need to continue to elaborate on what we did. Yes, 87 00:06:08,960 --> 00:06:12,760 Speaker 3: we increased the child tax credit by hundreds of dollars 88 00:06:13,320 --> 00:06:15,920 Speaker 3: and linked it to inflation, so its value is never 89 00:06:15,960 --> 00:06:18,760 Speaker 3: going to go down. So that's that's how our tax 90 00:06:19,040 --> 00:06:23,719 Speaker 3: effort helps working families. We boosted the standard deduction and 91 00:06:23,720 --> 00:06:26,599 Speaker 3: that's claimed by ninety percent of taxpayers in this country, 92 00:06:26,600 --> 00:06:31,080 Speaker 3: so ninety percent of Americans benefited from that. We inst 93 00:06:31,080 --> 00:06:35,120 Speaker 3: to do a new six thousand dollars bonus deduction for 94 00:06:35,279 --> 00:06:39,560 Speaker 3: lower and middle income seniors. We implemented no tax on tips. 95 00:06:39,600 --> 00:06:45,800 Speaker 3: That's easy to explain, no tax on overtime. So individual 96 00:06:45,839 --> 00:06:49,560 Speaker 3: candidates are going to be charged with litigating that case 97 00:06:50,360 --> 00:06:55,120 Speaker 3: and putting it into their own language and claiming credit 98 00:06:55,200 --> 00:06:58,880 Speaker 3: for it. But if our Republican candids do that rather 99 00:06:58,920 --> 00:07:07,239 Speaker 3: than you know, you know, instead volunteering rehearse talking points, 100 00:07:07,240 --> 00:07:11,160 Speaker 3: people are getting tired of that. You know, that'll sometimes 101 00:07:11,440 --> 00:07:15,880 Speaker 3: get you a lift and social media, but they need 102 00:07:15,920 --> 00:07:18,960 Speaker 3: to tell people what they've done and then build on 103 00:07:19,000 --> 00:07:21,760 Speaker 3: that and say here's what we're gonna do now. 104 00:07:21,800 --> 00:07:24,720 Speaker 2: I did say to you talking to Senator Todd Young, 105 00:07:25,080 --> 00:07:28,600 Speaker 2: Republican of Indiana. I did say to you that the 106 00:07:29,000 --> 00:07:31,720 Speaker 2: messaging on the One Big Beautiful Bill is some of 107 00:07:31,720 --> 00:07:35,119 Speaker 2: the worst messaging I have ever seen, because you heard 108 00:07:35,400 --> 00:07:39,080 Speaker 2: Scott Bessett, the Treasury Secretary, discussing just a few months 109 00:07:39,120 --> 00:07:41,240 Speaker 2: ago and the first time it finally came up how 110 00:07:41,280 --> 00:07:44,320 Speaker 2: much they're depending on this as part of their economic 111 00:07:44,360 --> 00:07:48,080 Speaker 2: success story for twenty and twenty six leading into the midterms. 112 00:07:49,560 --> 00:07:52,679 Speaker 2: The messaging conversation, which is the thing I liked about 113 00:07:52,680 --> 00:07:54,720 Speaker 2: the Stay of the Union was that it was exactly 114 00:07:54,800 --> 00:07:58,640 Speaker 2: that it was an uplift hopeful we are looking at 115 00:07:58,680 --> 00:08:01,120 Speaker 2: America's future because we act, we believe in it, as 116 00:08:01,120 --> 00:08:05,320 Speaker 2: opposed to America's terrible, America's awful that you get often 117 00:08:05,400 --> 00:08:08,080 Speaker 2: from today's political left, and certainly we saw a lot 118 00:08:08,160 --> 00:08:10,520 Speaker 2: of that from the screaming yelling in the State of 119 00:08:10,520 --> 00:08:13,040 Speaker 2: the Union. But go back to the One Big Beautiful Bill. 120 00:08:13,760 --> 00:08:16,679 Speaker 2: How much of what we are going to learn about 121 00:08:16,680 --> 00:08:18,840 Speaker 2: this now that it comes into play came into play 122 00:08:18,920 --> 00:08:21,720 Speaker 2: in twenty twenty six. Should we be looking at are 123 00:08:21,760 --> 00:08:24,920 Speaker 2: there things that you're excited about, or say, hey, keep 124 00:08:24,920 --> 00:08:27,480 Speaker 2: an eye on this, because if this works, if this. 125 00:08:27,640 --> 00:08:31,160 Speaker 2: Once this gets into play, everybody's life gets a little 126 00:08:31,200 --> 00:08:31,720 Speaker 2: bit easier. 127 00:08:33,240 --> 00:08:38,440 Speaker 3: Absolutely. I think President Trump and he spent some time 128 00:08:38,480 --> 00:08:43,760 Speaker 3: on this, thank God, at the State of the Union, 129 00:08:43,800 --> 00:08:46,600 Speaker 3: but he needs to keep talking about and all our 130 00:08:46,640 --> 00:08:51,920 Speaker 3: candidates need to talk about. These Trump accounts conceived of 131 00:08:52,160 --> 00:08:56,120 Speaker 3: by a fellow Hoosier and you met him, Brad Gershner. 132 00:08:56,720 --> 00:09:02,120 Speaker 3: He's from Elkhart County. And these Trump camp outs put 133 00:09:02,160 --> 00:09:07,760 Speaker 3: in their long term investment accounts for all US children, 134 00:09:08,720 --> 00:09:15,199 Speaker 3: one thousand dollars US Treasury is seeded into their accounts. 135 00:09:15,920 --> 00:09:20,079 Speaker 3: And these accounts are going to function like an individual 136 00:09:20,160 --> 00:09:24,840 Speaker 3: retirement account, with the parents or the guardians serving as 137 00:09:24,880 --> 00:09:28,800 Speaker 3: a custodian of them until the child turns age eighteen. 138 00:09:29,880 --> 00:09:34,319 Speaker 3: And the goal is to bring capitalism to every child 139 00:09:34,559 --> 00:09:39,120 Speaker 3: in America, especially lower income kids. A thousand dollars seed 140 00:09:39,480 --> 00:09:43,000 Speaker 3: deposit doesn't sound like much money, but that could grow 141 00:09:43,080 --> 00:09:50,439 Speaker 3: to over five hundred thousand dollars by retirement age. That 142 00:09:50,600 --> 00:09:54,440 Speaker 3: the most powerful force in the universe is Albert Einstein 143 00:09:54,559 --> 00:09:57,120 Speaker 3: used to tell us is compound interests, So if you 144 00:09:57,160 --> 00:09:59,800 Speaker 3: get started early, it can become a whole lot of 145 00:09:59,840 --> 00:10:03,360 Speaker 3: mone And people have talked about this for years It's 146 00:10:03,400 --> 00:10:07,040 Speaker 3: not as though Brad Gershner or President Trump conceived of 147 00:10:07,080 --> 00:10:11,360 Speaker 3: this idea, but no one's actually gotten it done until 148 00:10:11,400 --> 00:10:16,240 Speaker 3: President Trump. And I think that captures the imagination you 149 00:10:16,280 --> 00:10:18,719 Speaker 3: see when when you're running for office, and I've done 150 00:10:18,760 --> 00:10:21,080 Speaker 3: a number of times, and I'm I'm pretty good at it. 151 00:10:22,000 --> 00:10:24,600 Speaker 3: You know, I've faced some tough races. But people want 152 00:10:24,640 --> 00:10:27,840 Speaker 3: your here and now deliverables. What have you done? What 153 00:10:27,880 --> 00:10:29,880 Speaker 3: are the meat and potato potato things that you're going 154 00:10:29,960 --> 00:10:32,679 Speaker 3: to do to improve my life today and tomorrow. But 155 00:10:32,720 --> 00:10:35,880 Speaker 3: they also want you to be aspirational. And this is 156 00:10:36,240 --> 00:10:39,559 Speaker 3: this really captures the imagination these Trump accounts. 157 00:10:40,520 --> 00:10:44,800 Speaker 2: Talking to Centator Todd Young of Indiana, we will get 158 00:10:44,840 --> 00:10:47,560 Speaker 2: into the future more into these Trump accounts. I will 159 00:10:47,559 --> 00:10:50,800 Speaker 2: get Brad Gersner on the show and and kind of 160 00:10:50,840 --> 00:10:53,200 Speaker 2: break these things down a little bit more. I do 161 00:10:53,280 --> 00:10:55,240 Speaker 2: have questions, but I want to get to the flip 162 00:10:55,280 --> 00:10:57,840 Speaker 2: side of the of the state of the Union, which 163 00:10:57,920 --> 00:11:02,000 Speaker 2: is I'm I'm in the room. I have very unique seats. 164 00:11:02,040 --> 00:11:04,800 Speaker 2: I'm behind the president. I thought I treated you better 165 00:11:04,840 --> 00:11:07,400 Speaker 2: than that, but I'm behind the president and I'm on 166 00:11:07,480 --> 00:11:12,720 Speaker 2: the Democrat side, so I'm looking down directly at Ilhana 167 00:11:12,800 --> 00:11:15,680 Speaker 2: Mahr and Mashida Talib. I see everything. I hear the 168 00:11:15,720 --> 00:11:19,000 Speaker 2: things other people don't hear, the cursing and everything else. 169 00:11:19,600 --> 00:11:24,160 Speaker 2: It's surreal. You have now been in a large number 170 00:11:24,240 --> 00:11:28,040 Speaker 2: of States of the Union State of the Union addresses, 171 00:11:28,080 --> 00:11:34,440 Speaker 2: I should say, was the moments of them not cheering, 172 00:11:34,640 --> 00:11:36,839 Speaker 2: the moments of them not standing up for citizens over 173 00:11:36,960 --> 00:11:41,360 Speaker 2: legal immigrants, the moments of them not being participatory in 174 00:11:41,400 --> 00:11:44,079 Speaker 2: the You know what, some things are pretty good even 175 00:11:44,120 --> 00:11:48,440 Speaker 2: if we disagree on policy. Was it any more shocking 176 00:11:48,480 --> 00:11:51,520 Speaker 2: than any other time? Or did Tuesday night have a 177 00:11:51,840 --> 00:11:53,240 Speaker 2: different kind of feel for you? 178 00:11:54,280 --> 00:12:02,200 Speaker 3: I think every year becomes more untethered from uh, you know, 179 00:12:02,520 --> 00:12:09,480 Speaker 3: uh courteous, respectful, professional conduct at the State of the Union. 180 00:12:09,559 --> 00:12:11,520 Speaker 3: I can remember, and this is going to sound so 181 00:12:11,760 --> 00:12:14,480 Speaker 3: old fashioned to the young adults who listened to you. 182 00:12:15,120 --> 00:12:18,560 Speaker 3: May sound a little old fashioned to you, Tony, but 183 00:12:18,800 --> 00:12:23,920 Speaker 3: I can remember when Hillary Clinton was staring at her 184 00:12:24,120 --> 00:12:26,280 Speaker 3: phone in the middle of the State of the Union. 185 00:12:26,280 --> 00:12:29,360 Speaker 3: I think it was during It was when W. George W. 186 00:12:29,480 --> 00:12:32,520 Speaker 3: Bush was president, and she was just looking down for 187 00:12:32,559 --> 00:12:34,439 Speaker 3: a second at her at her phone in the middle 188 00:12:34,440 --> 00:12:37,400 Speaker 3: of the speech, and the camera happened to capture that moment. 189 00:12:37,440 --> 00:12:42,600 Speaker 3: It was scandalous. It was scandalous. Why was it scandalo Well, 190 00:12:42,640 --> 00:12:46,880 Speaker 3: because people were supposed to pay attention, yep. And these 191 00:12:46,960 --> 00:12:51,800 Speaker 3: days you have signs calling president's names, you have people 192 00:12:52,000 --> 00:12:57,640 Speaker 3: yelling out things uh and and and uh. No one 193 00:12:57,720 --> 00:13:02,160 Speaker 3: cares anymore. So I I think that's lamentable. I think 194 00:13:02,240 --> 00:13:06,000 Speaker 3: that's a problematic when you're supposed to be able to 195 00:13:06,040 --> 00:13:10,920 Speaker 3: respectfully debate issues in our country. But you know, I'm 196 00:13:11,080 --> 00:13:14,160 Speaker 3: coming to believe that maybe I'm in the minority in 197 00:13:14,240 --> 00:13:19,760 Speaker 3: harboring these quaint old beliefs. The wheels came off at 198 00:13:19,760 --> 00:13:21,760 Speaker 3: this State of the Union addressing it seems to get 199 00:13:21,800 --> 00:13:24,920 Speaker 3: worse every year. So I hope at some point there 200 00:13:24,920 --> 00:13:28,920 Speaker 3: can be a reset and the American people collectively say, 201 00:13:28,960 --> 00:13:31,080 Speaker 3: you know what this is, this is I'm not very 202 00:13:31,120 --> 00:13:33,800 Speaker 3: proud of this. I don't I don't want my kids 203 00:13:33,840 --> 00:13:35,880 Speaker 3: to grow up in a country where people treat one 204 00:13:35,880 --> 00:13:42,880 Speaker 3: another so crappy. And but you know, that's that's my perspective, Tony. 205 00:13:44,040 --> 00:13:48,000 Speaker 2: The Republicans, as we discussed, sir, are now going to 206 00:13:48,040 --> 00:13:50,040 Speaker 2: take the stay of the Union. It's going to lead 207 00:13:50,720 --> 00:13:55,080 Speaker 2: their conversations and their talking points regarding the midterms. Now 208 00:13:55,160 --> 00:13:58,480 Speaker 2: you are not up for reelection, but there is absolutely 209 00:13:58,480 --> 00:14:01,280 Speaker 2: the fear that Republicans lose the House. There's been conversations 210 00:14:01,280 --> 00:14:06,680 Speaker 2: of Republicans losing the Senate. Will you be hitting the 211 00:14:06,720 --> 00:14:10,160 Speaker 2: campaign trail for people Republicans in general? And what? 212 00:14:10,320 --> 00:14:10,960 Speaker 3: Oh, you got it? 213 00:14:11,200 --> 00:14:12,920 Speaker 2: What is your message? 214 00:14:13,800 --> 00:14:19,560 Speaker 3: I'm a team player. I'm always out there and out 215 00:14:19,600 --> 00:14:23,720 Speaker 3: there helping candidates I deeply believe in, and there's always 216 00:14:23,760 --> 00:14:26,640 Speaker 3: a lot of them, and I'll do that. I'll raise 217 00:14:26,720 --> 00:14:31,640 Speaker 3: money for him, I'll give speeches for him. I will 218 00:14:32,080 --> 00:14:36,400 Speaker 3: do whatever it takes to make sure that the far 219 00:14:36,520 --> 00:14:40,080 Speaker 3: left in this party does not again get control of 220 00:14:40,120 --> 00:14:45,840 Speaker 3: the leavers of government and crush our hopes and dreams. 221 00:14:45,920 --> 00:14:48,720 Speaker 3: And I know that sounds dramatic, perhaps to some of 222 00:14:48,760 --> 00:14:52,560 Speaker 3: your listeners, but President Biden was an absolute train wreck 223 00:14:53,040 --> 00:14:55,600 Speaker 3: and we need to restore confidence in our government. 224 00:14:56,480 --> 00:15:00,240 Speaker 2: Senator Todd Young, I appreciate you taking the time being 225 00:15:00,440 --> 00:15:04,040 Speaker 2: with us, Appreciate you being here. Senator Toddyongyong dot Senate 226 00:15:04,080 --> 00:15:07,120 Speaker 2: dot gov. Check them out over there. More is coming up. 227 00:15:07,120 --> 00:15:09,400 Speaker 2: I'm Tony Katz. This is Tony Katz today.