WEBVTT - Economic Reality Check - July 3rd, Hour 2 0:00:00.120 --> 0:00:01.080 Well, we have come in. 0:00:02.560 --> 0:00:07.080 To your city. I wanta way I get those saying 0:00:07.200 --> 0:00:12.640 you a conscious cell. Will all be higher high til 0:00:14.920 --> 0:00:17.040 and if you want a little banging, a union and 0:00:17.200 --> 0:00:17.800 come along. 0:00:18.680 --> 0:00:21.920 But regime change is not the policy of the United States. 0:00:22.239 --> 0:00:25.239 It is not the purpose of this attack. Yet we 0:00:25.360 --> 0:00:32.720 refuse to accept a fascist America. 0:00:33.000 --> 0:00:37.880 You are the community to this president's chaos, and together 0:00:38.640 --> 0:00:43.480 we build a future of opportunity and justice for all. 0:00:44.400 --> 0:00:52.640 Trado is back in style. Welcome, we have coming to 0:00:52.760 --> 0:00:57.160 your city, going the way I get talis and saying 0:00:57.200 --> 0:00:58.440 you a conscious sill. 0:01:00.360 --> 0:01:04.680 The New Sean Hennity Show more I'm the Scene's information 0:01:04.880 --> 0:01:10.200 on freaking news and more bold inspired solutions for America. 0:01:11.280 --> 0:01:14.760 Coming up next our final News round Up and Information 0:01:15.000 --> 0:01:16.240 Overload Hour. 0:01:16.200 --> 0:01:18.800 A news round Up Information Overload Hour. Our toll free 0:01:18.880 --> 0:01:21.600 number is eight hundred and ninety four one Sean. If 0:01:21.640 --> 0:01:24.840 you want to be a part of the program. If 0:01:24.840 --> 0:01:30.839 you're following Jerome Powell the Fed share in any way, shape, 0:01:30.840 --> 0:01:34.000 matter or form, it is clear he does not like 0:01:34.080 --> 0:01:38.399 Donald Trump. To me, it's gotten personal, especially on the 0:01:38.560 --> 0:01:40.920 issue of interest rates, because when you look at the 0:01:40.959 --> 0:01:45.479 economy and you know all of the doomsday predictions have 0:01:45.760 --> 0:01:50.800 fallen flat. And it's getting a little bit frustrating to 0:01:50.880 --> 0:01:58.400 me because with what he is now, his incredible reluctance 0:01:58.440 --> 0:02:01.800 and resistance to do any thing that would be wise 0:02:01.880 --> 0:02:06.080 and smart to help the economy, it just defies logic 0:02:06.160 --> 0:02:09.560 and common sense. Because every measure Trump is arguing that 0:02:09.639 --> 0:02:12.239 the Fed's key borrowing rate should be at least two 0:02:12.240 --> 0:02:15.600 percentage points lower. I agree with him, you know, and 0:02:16.000 --> 0:02:20.400 sure enough, predictably, Powell, you know, when you know, goes 0:02:20.440 --> 0:02:23.440 on and on repeating, regurgitating things that just never have 0:02:23.520 --> 0:02:26.480 come to viruition. And I don't blame the president for 0:02:26.560 --> 0:02:32.040 being unhappy, you know, And it is it just from 0:02:32.080 --> 0:02:37.320 a from a financial standpoint, from the economy standpoint. You know, 0:02:37.320 --> 0:02:40.440 if you look at Donald Trump, you know, every prediction 0:02:40.560 --> 0:02:43.360 they made about what tariffs would do to the economy 0:02:43.360 --> 0:02:46.600 and higher inflation, a massive unemployment, none of this has 0:02:46.639 --> 0:02:51.079 come true. None of it. The CPI measure of inflation, 0:02:51.760 --> 0:02:54.600 you know, is you know, for the twelve months ending, 0:02:54.760 --> 0:02:56.880 you know, we we're now at the lowest levels we've 0:02:56.880 --> 0:02:59.959 had in four years. Consumer confidence has never been high, 0:03:00.919 --> 0:03:04.720 the number of jobs available for Americans that's never been higher. 0:03:05.120 --> 0:03:09.480 And yet interest rates remain ridiculously high. And by the way, 0:03:09.520 --> 0:03:11.960 the one area of the economy that is hurting as 0:03:12.000 --> 0:03:15.280 a result of it is the home building industry. Because 0:03:15.320 --> 0:03:17.360 interest rates are so high, nobody's going to give up 0:03:17.360 --> 0:03:20.960 their three percent thirty year fixed rate mortgage to get 0:03:20.960 --> 0:03:23.320 a seven or seven and a half percent thirty year 0:03:23.360 --> 0:03:26.760 fixed rate mortgage. And you can't blame people if not 0:03:26.800 --> 0:03:30.000 wanting to do that, is what Powell said in his announcement. 0:03:30.440 --> 0:03:34.760 Changes to trade, immigration, fiscal and regulatory policies continue to evolve, 0:03:35.280 --> 0:03:38.880 and their effects on the economy remain uncertain. The effects 0:03:38.880 --> 0:03:41.960 of tariffs will depend, among other things, on their ultimate level. 0:03:42.400 --> 0:03:45.200 Expectations of that level, and thus of the related economic 0:03:45.200 --> 0:03:48.320 effects reached a peak in April and have since declined. 0:03:48.960 --> 0:03:52.880 Even so, increases in tariffs this year are likely to 0:03:52.960 --> 0:03:56.480 push up prices and weigh on economic activity. The effects 0:03:56.520 --> 0:03:59.280 on inflation could be short lived, reflecting a one time 0:03:59.320 --> 0:04:02.640 shift in the level. It's also possible that the inflationary 0:04:02.680 --> 0:04:06.280 effects could instead be more persistent. Avoiding that outcome will 0:04:06.280 --> 0:04:08.680 depend on the size of the tariff effects, on how 0:04:08.760 --> 0:04:11.200 long it takes for them to pass through fully into prices, 0:04:11.520 --> 0:04:15.280 and ultimately on keeping longer term inflation expectations well anchored. 0:04:15.520 --> 0:04:17.800 Hi joining us now to respond. Joe Lavornia is with 0:04:17.880 --> 0:04:23.080 US Treasury economist, and he's here to discuss Powell's inability 0:04:23.120 --> 0:04:25.520 to step outside of his own political bias and help 0:04:25.600 --> 0:04:28.360 the American people. He's also costing the country a fortune 0:04:28.400 --> 0:04:31.520 because we're paying the higher interest rates as well. What's 0:04:31.560 --> 0:04:35.440 your reaction to me, it's personal and political. Your thoughts, oh. 0:04:35.360 --> 0:04:38.800 Hi, Joan, thanks very much for having me as as 0:04:38.880 --> 0:04:41.520 counselor to Secretary Best and we don't want to weigh 0:04:41.560 --> 0:04:45.960 in on monetary policy, but you did raise a couple 0:04:46.040 --> 0:04:49.799 of very key points, and that is under President Trump, inflation, 0:04:49.880 --> 0:04:54.720 which is one of his primary goals on the campaign rallies, 0:04:55.240 --> 0:04:59.280 he has delivered in spades. Inflation, as you've correctly said, 0:04:59.279 --> 0:05:03.320 has come down white dramatically and is going to continue 0:05:03.360 --> 0:05:07.320 to drop in all likelihood because of what it should 0:05:07.320 --> 0:05:10.480 be imminent passage of the One Big, Beautiful Bill, which 0:05:10.480 --> 0:05:13.360 will help expand the supply side of the economy and 0:05:13.400 --> 0:05:16.760 continue to lift blue collar wages, which I'm not sure 0:05:16.760 --> 0:05:18.440 if you saw this shown, but the White House to 0:05:18.480 --> 0:05:20.960 put out earlier in the week, are growing at the 0:05:21.040 --> 0:05:25.760 fastest rate for an initial term. I'm assuming that I'm 0:05:25.760 --> 0:05:28.640 treating this a Trump term as basically a new term 0:05:28.640 --> 0:05:31.920 because of the gap in between. It's the fastest five 0:05:31.960 --> 0:05:34.880 month increase in real blue collar wages we've had on 0:05:34.960 --> 0:05:37.160 record in the day to go back sixty years. So 0:05:37.160 --> 0:05:39.680 there's a lot of good stuff there, and the President 0:05:39.760 --> 0:05:41.080 deserves credit for it, you know. 0:05:41.400 --> 0:05:44.279 But I'm having a hard time understanding, and it seems personal. 0:05:44.320 --> 0:05:47.440 If you look at the comments of Powell, the economy 0:05:47.520 --> 0:05:50.800 has been resilient, and part of that is our stance. 0:05:51.360 --> 0:05:53.839 So he's like he thinks he runs the economy, almost 0:05:53.920 --> 0:05:57.400 like he believes he's president. Now he'll be out in 0:05:57.440 --> 0:06:00.520 May of twenty six, and frankly, from my perspective, come Andy. 0:06:00.720 --> 0:06:03.240 It can't come soon enough. I think the frustrating thing 0:06:03.320 --> 0:06:05.400 is we have to wait that long and and maybe 0:06:05.480 --> 0:06:07.919 Scott Bessing, his name has been floated as a possible 0:06:08.000 --> 0:06:13.599 replacement the Treasury secretary. But somebody that understands the economy understands, 0:06:13.680 --> 0:06:16.000 you know, we we we had a target rate, for example, 0:06:16.240 --> 0:06:18.640 the inflation rate of two percent where to two point 0:06:18.680 --> 0:06:22.320 one percent, so we reached that target rate. Joe Biden 0:06:22.360 --> 0:06:24.680 brought that number up to nine point what four percent 0:06:24.720 --> 0:06:28.600 or five percent, so it definitely played. You know, raising 0:06:28.640 --> 0:06:32.960 interest rates temporarily had its place, but that time has 0:06:33.040 --> 0:06:37.320 come and gone, and frankly the President is just you know, 0:06:37.480 --> 0:06:40.240 apoplectic about it, and he stuck with this guy until 0:06:40.279 --> 0:06:41.120 May of next year. 0:06:41.400 --> 0:06:44.080 The you know, it's when you talk about inflation, and 0:06:44.680 --> 0:06:47.120 he was at a forty five year high under under 0:06:47.160 --> 0:06:50.400 President Biden. And the tariffs and how inflation has come down. 0:06:50.440 --> 0:06:54.839 I mean, it's remarkable how the the professional analytical community, 0:06:54.839 --> 0:06:58.800 the professional forecasters has gotten the inflation wrong. So what 0:06:58.880 --> 0:07:01.360 I can tell you is that and we've seen it 0:07:01.480 --> 0:07:05.040 how resilient the economy is, and how oftentimes people when 0:07:05.080 --> 0:07:06.919 they say certain things are going to happen, there's no 0:07:07.040 --> 0:07:09.960 question you have to have higher prices because of tariffs. 0:07:10.000 --> 0:07:13.040 And what we've seen, of course, is a terriff being 0:07:13.120 --> 0:07:17.080 absorbed in the margins of the foreign sellers, and it's 0:07:17.080 --> 0:07:20.360 happened as inflation's actually come down, which is which is 0:07:20.440 --> 0:07:24.800 very positive. Youth economy Sean, as you know, is extraordinarily resilient. 0:07:25.440 --> 0:07:29.640 And with the bill imminent passage of that, I we 0:07:29.680 --> 0:07:32.720 should be we should be talking about three percent growth. 0:07:32.760 --> 0:07:34.680 And I know you've talked here about the FED. But 0:07:34.960 --> 0:07:36.640 the other thing I want to mention though, is when 0:07:36.640 --> 0:07:38.760 people talk about deficits because of greasury. 0:07:38.840 --> 0:07:42.560 You know, we you did see the Atlanta Fed what 0:07:42.640 --> 0:07:45.040 a two week and a half, two weeks ago, you know, 0:07:45.120 --> 0:07:48.080 they have projected GDP growth of the second quarter. They 0:07:48.080 --> 0:07:50.000 were up to four point six percent. I'm not sure 0:07:50.000 --> 0:07:50.840 where it is today. 0:07:51.040 --> 0:07:54.080 Yeah, it's it's around, it's four maybe a little bit less. 0:07:54.080 --> 0:07:56.560 A bounces around. But here's the thing is, we talk 0:07:56.640 --> 0:07:58.520 about interest rates and debt and all these other things. 0:07:58.920 --> 0:08:01.600 You know, the Congresional Budget Office, I believe it's just 0:08:01.920 --> 0:08:05.560 much too pessimistic forecast. They're assuming the next ten years 0:08:05.600 --> 0:08:08.800 the economy grows under two percent. If we're going to 0:08:08.840 --> 0:08:11.280 start growing a three percent plus in the in the 0:08:11.320 --> 0:08:13.600 third and the second quarter, maybe more, and that is 0:08:13.640 --> 0:08:15.960 the new trajectory, which seems to me to be reasonable 0:08:16.360 --> 0:08:18.840 because under President Trump's first term, before COVID, we were 0:08:18.840 --> 0:08:22.240 growing at nearly three percent. Since then, productivity is accelerated. 0:08:22.280 --> 0:08:25.160 We have an II in AI spending boom that this 0:08:25.240 --> 0:08:27.240 bill coming through is going to lift CAPEX in an 0:08:27.280 --> 0:08:30.480 even more meaningful way. We're going to generate faster growth, 0:08:30.480 --> 0:08:33.360 which is give us faster revenues. And this is an 0:08:33.360 --> 0:08:35.720 important point because they see so much financial press. It 0:08:35.760 --> 0:08:39.400 just talks about these big, large deficits with no admission 0:08:39.400 --> 0:08:42.239 that the assum that the assumed growth rate is too pessimistic, 0:08:43.320 --> 0:08:45.080 and it's just sort of like the fear cells. 0:08:45.160 --> 0:08:47.880 We look, the Congressional Budget Office does not exactly have 0:08:47.920 --> 0:08:50.920 the best track record. You know, one thing that it 0:08:51.000 --> 0:08:54.760 seems nobody is factoring in is, for example, the Reagan 0:08:54.840 --> 0:08:58.440 tax cuts or or the Trump tax cuts. What happens, 0:08:58.640 --> 0:09:02.800 Revenues to the government increase, they don't decrease, and they 0:09:02.920 --> 0:09:06.240 always backer that in as a decrease. For example, in 0:09:06.280 --> 0:09:10.800 Reagan's term, revenues to the federal government doubled. He created 0:09:10.800 --> 0:09:13.240 twenty one million new jobs. At the time, it was 0:09:13.360 --> 0:09:16.600 the longest period of peacetime economic growth in history. The 0:09:16.640 --> 0:09:20.080 first three years prior to COVID. In the Trump years, 0:09:20.400 --> 0:09:25.840 the president created record low after record low unemployment for 0:09:26.040 --> 0:09:31.400 every demographic in the country, African Americans, Hispanic Americans, Asian Americans, 0:09:31.440 --> 0:09:35.440 women in the workplace, African American youth unemployment, gas prices 0:09:35.640 --> 0:09:39.160 never once during his first term ever got above three 0:09:39.200 --> 0:09:43.400 dollars an average per gallon. Gas prices are now down dramatically, 0:09:43.440 --> 0:09:49.000 small business optimism, consumer confidences up dramatically. We have low inflation. 0:09:50.120 --> 0:09:53.120 And the only thing that is that is showing signs 0:09:53.120 --> 0:09:57.800 of trouble is directly related to the Fed's interest rate policy, 0:09:58.559 --> 0:10:02.400 and that is home to And there's an easy explanation 0:10:02.520 --> 0:10:04.280 for that. Who's going to give up a Would you 0:10:04.320 --> 0:10:06.760 give up a three year, I'm sorry at thirty year 0:10:08.720 --> 0:10:12.720 mortgage to get into a new home at at you know, 0:10:12.880 --> 0:10:19.240 double the interest rate, you'd be doubling your payment. It's insane, right, No, So. 0:10:18.360 --> 0:10:20.320 Sure, now I understand your points, Sean, But you know, 0:10:20.400 --> 0:10:23.160 here's the thing. Let's take ten year yields for a minute, 0:10:23.160 --> 0:10:25.280 because I spent most of my career has been in 0:10:25.280 --> 0:10:28.360 the private sector. And the good news, and kudos to 0:10:28.400 --> 0:10:33.400 Secretary Best and and that is the we've gotten interest rates. 0:10:33.400 --> 0:10:36.920 You know, interest rates. The market was very fearful right 0:10:36.960 --> 0:10:39.720 around the Liberation Day that and shortly thereafter the ten 0:10:39.800 --> 0:10:42.560 year yelds to move up to five percent. The good 0:10:42.559 --> 0:10:45.880 news is the economy is booming. Market rates are in 0:10:45.920 --> 0:10:50.000 the middle to maybe slightly below their recent range. As 0:10:50.040 --> 0:10:53.640 inflation comes down more, the inflation component of that long 0:10:53.720 --> 0:10:56.400 term interest rate will come down. And the good news 0:10:56.480 --> 0:10:59.960 is market interest rates can still fall with President trump 0:11:00.160 --> 0:11:04.839 policies and that will help homeowners and then hopefully over time, 0:11:04.920 --> 0:11:06.920 you know, we'll see those other rates come down as well. 0:11:07.040 --> 0:11:09.760 Well. Once interest straights start coming down, it'll bring the 0:11:09.840 --> 0:11:13.200 real estate market back up and there'll be a lot 0:11:13.200 --> 0:11:15.200 of activity. But right now, people are going to hang 0:11:15.240 --> 0:11:18.160 on to their low interest rate mortgage that they locked 0:11:18.200 --> 0:11:20.440 in years ago. Is one of the things that we're 0:11:20.440 --> 0:11:23.079 not factoring in here, and that is Donald Trump his 0:11:23.320 --> 0:11:27.400 commitments because of his trade policies and the threat of tariffs, 0:11:27.400 --> 0:11:30.800 brought this in of over ten trillion dollars. We've never 0:11:30.880 --> 0:11:35.079 had commitments like that ever in our country's history before. 0:11:35.520 --> 0:11:39.400 And that's new manufacturing inside of America, and that includes 0:11:39.840 --> 0:11:42.959 things that are beneficial towards national security. That would be 0:11:43.000 --> 0:11:49.800 pharmaceuticals and semiconductor chips, but also you know, revitalizing automobile 0:11:49.840 --> 0:11:53.599 manufacturing in the country on top of you know, artificial 0:11:53.600 --> 0:11:57.520 intelligence and new technologies all of that. I mean, aren't 0:11:57.520 --> 0:12:00.320 they aren't all these industries going to be creating high 0:12:00.520 --> 0:12:03.280 paying career jobs for people well, well. 0:12:03.080 --> 0:12:07.160 That's it. It's that's what the President's policies are designed 0:12:07.200 --> 0:12:10.760 to do, is to bring back high value added manufacturing 0:12:10.800 --> 0:12:13.920 that pay very high wages. And as you were, giving 0:12:13.920 --> 0:12:16.960 a very accurate description of how things have been playing out. 0:12:17.920 --> 0:12:21.160 As the Treasury Secretary has said, national security and economic 0:12:21.240 --> 0:12:23.240 security are one and the same. They're very you know, 0:12:23.240 --> 0:12:26.680 they're interconnected. And you know, we talk about interest rates 0:12:26.679 --> 0:12:28.839 and getting interested needing you know, you know, people want 0:12:28.800 --> 0:12:31.760 to interest rates lower, which I understand, but the people 0:12:31.760 --> 0:12:33.760 should also know that the tariffs, which have not led 0:12:33.800 --> 0:12:37.719 to any inflation, also right now we're generating around two 0:12:37.800 --> 0:12:41.760 hundred billion dollars at an annual rate, and that number 0:12:41.760 --> 0:12:43.160 may even be a lot higher. We're going to get 0:12:43.200 --> 0:12:45.560 a number. We don't have the full numbers for June, 0:12:45.640 --> 0:12:47.720 but the tariffs are bringing in a lot of revenue, 0:12:48.040 --> 0:12:51.560 which also ties into the notion that the president wants 0:12:51.559 --> 0:12:54.439 to rebalance trade, reindustrialize as you said, and of course 0:12:54.480 --> 0:12:57.800 those those foreign capital commitments are also quite substantial. 0:12:58.040 --> 0:13:02.400 Yeah, all right, quick freak, welcome back. More with Treasury economists. 0:13:02.480 --> 0:13:04.559 Joe Lavorgna is with us, and then we'll get to 0:13:04.600 --> 0:13:06.320 your calls coming up eight hundred and nine to four 0:13:06.400 --> 0:13:07.960 one Sean, if you want to be a part of 0:13:07.960 --> 0:13:11.679 the program, continue with Joe Lavorgno talking about the economy, 0:13:11.920 --> 0:13:15.880 and a very stubborn fed chair who will be replaced 0:13:15.880 --> 0:13:18.040 in May of next year, can come soon enough. As 0:13:18.040 --> 0:13:21.080 far as I'm concerned, what do you think Powell does 0:13:21.120 --> 0:13:24.120 from here on out? Is he just gonna, you know, 0:13:24.240 --> 0:13:27.439 be in this cold war with President Trump? And because 0:13:27.480 --> 0:13:30.520 President Trump obviously disagrees with him, you know he's going 0:13:30.600 --> 0:13:33.520 to show President Trump who's boss until May of next 0:13:33.600 --> 0:13:35.760 year before we can have any hope of, you know, 0:13:35.840 --> 0:13:39.160 significantly lower interest rates at a minimum. I think we 0:13:39.240 --> 0:13:43.319 needed a fifty basis point reduction yesterday. In my view. 0:13:43.520 --> 0:13:47.520 I think the economic numbers warrant that, and I think 0:13:47.559 --> 0:13:50.439 that would be just the start. I personally agree with 0:13:50.480 --> 0:13:54.160 the President. I think a one basis point reduction would 0:13:54.160 --> 0:13:56.000 be appropriate too, and I think it would have the 0:13:56.320 --> 0:13:59.599 added impact of jump starting the economy in ways that 0:13:59.640 --> 0:14:02.240 people aren't even imagining. And if there's one big beautiful 0:14:02.240 --> 0:14:05.200 bill comes in and manufacturing facilities. In other words, if 0:14:05.240 --> 0:14:07.960 you build a facility, I think it's one hundred percent 0:14:08.280 --> 0:14:10.240 you get a tax deduction in year one I mean 0:14:10.280 --> 0:14:13.559 that that's going to incentivize everybody to build immediately. 0:14:14.080 --> 0:14:16.680 They're not going to wait, yeah, no, that's right. Well, yes, 0:14:16.720 --> 0:14:19.640 it's You're exactly right on. It's one hundred percent expensing 0:14:20.320 --> 0:14:23.240 a plant and equipment in addition to factories which we 0:14:23.320 --> 0:14:28.120 even had before. That'll be very very supply side constructive, 0:14:28.160 --> 0:14:32.160 meaning it's not going to cause inflation, actually bring inflation 0:14:32.200 --> 0:14:34.720 down as the economy accelerates, which is what we saw, 0:14:35.600 --> 0:14:38.840 as you mentioned earlier, under Reagan implicitly and also under 0:14:38.960 --> 0:14:42.280 President Trump's first term, where we had effectively three percent 0:14:42.320 --> 0:14:46.280 growth prior to the pandemic and inflation was two percent 0:14:46.440 --> 0:14:51.440 or less. Look long term, that all support certainly low 0:14:51.520 --> 0:14:55.480 interest rates, no question, broadly speaking, and you know I'm 0:14:55.480 --> 0:14:58.640 an optimist, so I do expect the housing market to 0:14:58.720 --> 0:15:03.920 recover over time, that affordability won't remain depressed. The income numbers, 0:15:03.960 --> 0:15:07.000 the blue collar boom we've highlighted is certainly very positive. 0:15:07.040 --> 0:15:08.920 So there are a lot of good things going on, 0:15:09.000 --> 0:15:10.680 and I'm going to be hopeful Seawan that. 0:15:10.800 --> 0:15:14.320 Well, I mean, the added supply and the higher interest 0:15:14.400 --> 0:15:18.320 rates and lack of activities is making home buying more 0:15:18.360 --> 0:15:22.920 affordable for people maybe that's certainly good. But if you 0:15:23.000 --> 0:15:27.520 really want to stimulate the home buyer market, the single 0:15:27.560 --> 0:15:28.840 best thing you can do is you got to you 0:15:28.920 --> 0:15:30.800 got to get these interest rates now, because they're too 0:15:30.880 --> 0:15:33.960 high and people simply cannot afford to pay two thousand 0:15:34.040 --> 0:15:38.040 dollars more for a monthly mortgage payment just because Jerome 0:15:38.120 --> 0:15:41.440 Powell has an agenda and he doesn't like Donald Trump, 0:15:41.480 --> 0:15:43.360 which is where I feel we're at here. It's to 0:15:43.400 --> 0:15:45.440 me it's gotten personal. Am I wrong on that part? 0:15:46.400 --> 0:15:49.920 Sure? I can't comment on that. I mean, I I'd 0:15:50.040 --> 0:15:53.080 rather not say. I mean, I understand your point, but well. 0:15:52.960 --> 0:15:55.960 I'd rather not say. Is it of a strong possibility? 0:15:56.760 --> 0:15:59.360 Well, here's what I would say again, I would say that. 0:15:59.360 --> 0:16:00.640 It seems per personal to me. 0:16:00.920 --> 0:16:05.040 Well, the I've not talked to the President or cheer 0:16:05.080 --> 0:16:07.400 Power on that, but it seems to me though that 0:16:07.960 --> 0:16:11.240 what we have right now is an environment where we've 0:16:11.280 --> 0:16:14.880 got very good growth, inflation's coming down, that by itself 0:16:14.920 --> 0:16:17.720 will pull long term interest rates down. You know, when 0:16:17.720 --> 0:16:23.120 we talk about housing affordability, the income part is very powerful, 0:16:23.600 --> 0:16:26.840 and that's something the President has directly all over, and 0:16:26.840 --> 0:16:29.720 that's looking good home prices in some places have moderated, 0:16:30.120 --> 0:16:32.360 but I do expect over Timeshewan, that you will see 0:16:32.360 --> 0:16:36.880 affordability pick up, because you'll see market based rates come down. 0:16:37.040 --> 0:16:40.120 And you know we need I got to run, but 0:16:40.160 --> 0:16:42.520 we need interest rates now. But Joe, I appreciate you 0:16:42.560 --> 0:16:44.440 being here. I really do, my friend, God bless you, 0:16:44.600 --> 0:16:49.080 and American people need some relief with this. You are 0:16:49.160 --> 0:16:51.240 listening to the best of the Sean Hannity Show, and 0:16:51.240 --> 0:16:55.200 stay tuned more memorable moments, interesting guests, and a lot 0:16:55.240 --> 0:16:57.560 of fun coming up next twenty five Dons to the 0:16:57.560 --> 0:17:00.240 top of the Hour, Punchline and Patriots that is a 0:17:00.480 --> 0:17:04.480 week from this Saturday. And that's in Clearwater and Tampa. 0:17:04.560 --> 0:17:09.680 That is at Ruth deckerd Hall. Tickets very limited seats left. 0:17:09.720 --> 0:17:12.639 Same with Fort Lauderdale. That's the twenty ninth day after. 0:17:13.640 --> 0:17:16.040 If you're interested, we'd love to have you. It's going 0:17:16.119 --> 0:17:21.600 to be ir reverend crazy, fun and absolutely politically incorrect. 0:17:21.800 --> 0:17:24.360 That much I can tell you now. We have gone 0:17:24.400 --> 0:17:28.439 over the numbers. They are overwhelming, and that is you know, 0:17:28.480 --> 0:17:31.520 if you look at even vague news CNN, you got 0:17:31.520 --> 0:17:34.800 seventy nine percent of Democrats, seventy nine percent of Independence, 0:17:34.840 --> 0:17:38.960 eighty three percent of Republicans, seventy nine percent of all 0:17:39.040 --> 0:17:44.040 adults are saying the same thing, and that is they 0:17:44.280 --> 0:17:49.080 oppose Iran obtaining nuclear weapons. I think the definitive poll 0:17:49.200 --> 0:17:53.119 by Robert Kahelli of Trafalgar and an Insider Advantage head 0:17:53.359 --> 0:17:57.639 Matt Towery. They did a joint poll and the question 0:17:57.880 --> 0:18:01.400 was very pointed, what is your opinion of President Trump's 0:18:01.440 --> 0:18:06.440 position that Iran must be prevented from develop a developing 0:18:06.480 --> 0:18:11.040 a nuclear weapon by any means necessary. Seventy four point 0:18:11.080 --> 0:18:14.520 four percent said that they approve and agree with that. 0:18:15.240 --> 0:18:18.080 And we can go on to the Havid Harris poll 0:18:18.119 --> 0:18:23.520 eighty five percent. Yeah, Tehran must never ever get the bomb. Now, 0:18:24.320 --> 0:18:26.880 Israel has taken out two of the three sites, there's 0:18:26.920 --> 0:18:32.000 one site remaining, and it seems that that site, the 0:18:32.440 --> 0:18:36.879 Bordeaux site that we keep talking about, would need American 0:18:37.600 --> 0:18:42.520 assistance to make this happen, and hence the decision that 0:18:42.600 --> 0:18:46.560 the President will have to make. And I have every 0:18:46.600 --> 0:18:50.200 confidence that the President understands he's been saying since twenty 0:18:50.960 --> 0:18:56.919 eleven that Iran could not have a nuclear weapon. One 0:18:57.000 --> 0:19:00.119 of the more bizarre conversations to arise out of this 0:19:01.320 --> 0:19:05.600 is against maga. Donald Trump is against forever wars, You're right, 0:19:05.680 --> 0:19:10.160 so am I I'm against forever wars, and with military technology, 0:19:10.440 --> 0:19:12.000 I don't think they're ever going to be fought the 0:19:12.000 --> 0:19:15.080 same way again. But it's the same Donald Trump that 0:19:15.160 --> 0:19:21.239 took out Solomani on the tarmac and that was you know, 0:19:21.400 --> 0:19:23.840 that was done, and all the predictions of doom and 0:19:23.880 --> 0:19:28.719 gloom and retribution. Any military effort has risk associated with it, 0:19:29.200 --> 0:19:30.879 But then you have to factor in the risk of 0:19:30.880 --> 0:19:33.840 a nuclear armed Iran, the number one state sponsor of terror, 0:19:33.840 --> 0:19:36.680 that has fired hundreds of thousands of missiles. They're firing 0:19:36.720 --> 0:19:42.880 them right now into Jerusalem as we speak. They've been 0:19:42.920 --> 0:19:47.399 firing him to heavily civilian areas, populated civilian areas like 0:19:47.480 --> 0:19:51.120 Tel Aviv, and they have sworn to wipe Israel off 0:19:51.160 --> 0:19:53.680 the map in the United States, off the map. They 0:19:53.680 --> 0:19:57.200 have made these threats repeatedly. But it's also the same 0:19:57.280 --> 0:20:00.680 Donald Trump that wiped out the Caliphate, the same Donald 0:20:00.680 --> 0:20:04.200 Trump that took out Bagdaddy and associates. I'm not sure 0:20:04.240 --> 0:20:06.800 how Some are saying that the mag of movement is 0:20:06.840 --> 0:20:10.040 an isolationist movement, which means no involvement at all it's not. 0:20:11.880 --> 0:20:16.000 It is no way contradictory to say that this one 0:20:16.040 --> 0:20:18.680 remaining site needs to be taken out. And if it's 0:20:18.720 --> 0:20:20.879 the United States at a time when their air defense 0:20:20.920 --> 0:20:23.960 systems are down, it's the safest it's ever gonna be. 0:20:24.080 --> 0:20:28.160 But there's always risk with any military operation. And take 0:20:28.160 --> 0:20:31.800 it out and forever end the threat of iranium Mullah's 0:20:32.640 --> 0:20:37.840 married to their sick converter die ideology, and forever remove 0:20:37.920 --> 0:20:41.040 that threat of a modern day holocaust. To me, is basic, 0:20:41.080 --> 0:20:44.040 simple common sense. Yeah, that also would be part of 0:20:44.080 --> 0:20:47.600 the Trump doctrine, and Donald Trump is it's not inconsistent 0:20:48.119 --> 0:20:49.880 if you take out those sites the way you took 0:20:49.920 --> 0:20:55.159 out Solo Mony Bagdaddy and associates, and also the Isis 0:20:55.240 --> 0:20:58.639 Caliphate and not have a forever war. Nobody wants that. 0:20:58.960 --> 0:21:02.480 I definitely don't anyway. Senator Lindsey Graham, South Carolina is 0:21:02.480 --> 0:21:04.560 with a senator, how are you good? 0:21:04.680 --> 0:21:05.919 Thanks so much for having me. 0:21:06.280 --> 0:21:08.359 Let's get your take on all of this. To me, 0:21:08.800 --> 0:21:12.000 it's a window of opportunity. Their air defenses are down. 0:21:12.119 --> 0:21:14.920 The President has been clear what his policy is. They 0:21:14.960 --> 0:21:18.080 can't have a nuclear weapon. He's been saying it since 0:21:18.119 --> 0:21:21.959 twenty eleven and hundreds of times since, it seems like 0:21:22.040 --> 0:21:22.880 the moment is here. 0:21:24.440 --> 0:21:28.120 Yeah, the forever war is started in nineteen seventy nine 0:21:28.200 --> 0:21:33.920 when the Ayatoa replaced the Shaw, they held our embassy 0:21:33.960 --> 0:21:38.320 personnel hostage. Since nineteen seventy nine, Iran has been waging 0:21:38.400 --> 0:21:43.280 war through Moses Blah and the Hoodies against Israel. They 0:21:43.280 --> 0:21:46.600 have American blood on their hands. So that's the war 0:21:46.680 --> 0:21:49.720 I'd like to end. And if you don't believe Iran 0:21:49.800 --> 0:21:53.000 would use a nuclear weapon to destroy Israel, you're not 0:21:53.160 --> 0:21:55.720 listening to what they're saying. If you don't believe they 0:21:55.760 --> 0:21:58.000 would use a nuclear weapon to come after us to 0:21:58.119 --> 0:22:01.280 infidel you're not listening to what they say. Hey, November 0:22:01.440 --> 0:22:04.720 fourth and Iran is commonly referred to as Death to 0:22:04.760 --> 0:22:08.360 America Day. In nineteen eighty seven, they made it a holiday. 0:22:08.440 --> 0:22:10.840 That was the day they took over our embassy. We 0:22:10.920 --> 0:22:13.920 have a military for a reason, to protect our way 0:22:13.960 --> 0:22:17.439 of life, protect our homeland, and protect our allies. You know, 0:22:17.480 --> 0:22:21.040 when my dad was drafted World War two, the term 0:22:21.320 --> 0:22:24.119 was called the duration We're going to fight and we 0:22:24.200 --> 0:22:27.199 beat the Nazis, took Berlin and took Tokyo, and we 0:22:27.240 --> 0:22:30.000 did in this war. We're not going to have ground 0:22:30.040 --> 0:22:32.760 troops and it won't last forever because we have the 0:22:32.800 --> 0:22:37.679 capability to destroy the Iranian nuclear program working with Israel 0:22:37.760 --> 0:22:41.560 fairly quickly. We're down to one site deep underground, about 0:22:41.560 --> 0:22:44.520 a half a mile under the ground. We have technology 0:22:44.560 --> 0:22:46.400 and bombs and capability. 0:22:46.560 --> 0:22:47.280 Israel doesn't. 0:22:47.680 --> 0:22:51.160 It is my advice to President Trump, help Israel finish 0:22:51.280 --> 0:22:55.360 the job. Go all in to destroy the last nuclear site. 0:22:55.760 --> 0:22:58.920 If we take this program on and we don't finish it, 0:22:58.920 --> 0:23:01.880 it will be a disaster. Still I's finished the job. 0:23:03.359 --> 0:23:06.959 I agree with you, and I actually think that the 0:23:07.040 --> 0:23:10.200 Israelis have done a spectacular job on their own. Now 0:23:10.640 --> 0:23:15.160