Allen Jackson NOW

Allen Jackson: Economic Indicators | Allen Jackson Now

June 3, 2026 | 22:31

Douglas Holtz-Eakin joins Allen Jackson to discuss current events.

#News #Money #Finances #Economy #Tradition-American #Government #Stewardship #Lifestyle #Choices #Debt-Free #Bondage #Freedom #Work #WorkofYourHands #Need #Contentment #Stealing #Lies #Deception #Manipulation #Medical #Faith #Truth #AllenJackson

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Allen Jackson NOW | Allen Jackson: Economic Indicators | Allen Jackson Now | June 3, 2026

Good evening and welcome to nashville.
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I'm alan jackson.
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You know, most of us understand a simple principle.
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If you spend more than you earn.
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Year after year, well,
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Eventually you're going to have a problem.
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Now, you may be able to make it work for a while.
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You can borrow money.
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You can put expenses on a credit card.
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You can tell yourself you'll deal with it
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Later, but sooner or later the bills come too.
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Well, for years, washington has spent more money
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Than it brings in.
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Sometimes there are good reasons to spend more during a war
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Or a national emergency.
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Most americans understand that.
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But what concerns many is that the spending
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Never seems to stop when the crisis is over.
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The government is now borrowing
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Trillions of dollars as a normal part of doing business.
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And while those numbers can feel distant
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And sometimes hard to understand the effects well,
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They may be much closer to home than many people realize.
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When washington borrows money, that's money
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That can't be invested somewhere else.
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It can't help start a business.
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It can't help expand a company.
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It can't help create jobs
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Or develop new technology or train workers for the future.
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Over time, that really matters.
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It can mean slower economic growth, fewer opportunities,
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And a lower standard
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Of living than americans might otherwise enjoy.
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Many young americans already wonder
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Whether they'll have the same opportunities
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Their parents and grandparents enjoyed.
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They see the rising cost of housing, education,
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Everyday life,
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And many are asking
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Whether the american dream is becoming harder to reach.
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Well, this isn't just about numbers
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On a government spreadsheet.
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It's about whether we're leaving our children and grandchildren
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Greater opportunity or just a bigger bill.
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So how serious is the problem?
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Can america continue spending the way it has?
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And what happens if we don't change course?
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Well, i'd like to suggest to you some biblically
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Sound fundamentals for dealing with our resources.
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I don't want us to feel powerless, folks.
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Our financial choices make a difference.
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One big.
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We must choose to avoid debt like the plague.
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We should be fighting as a nation to stay out of debt.
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How do we find ourselves $39 trillion in debt?
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It's because we don't consider debt that big of a deal.
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And on a personal level,
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As miraculous as compound interest is,
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If you ever get on the negative side of compound interest,
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You're looking at a modern day nightmare.
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I'll give you one example.
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A $7,500 balance on a credit card at 18% interest.
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It's a minimum payment of $150.
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How long do you think it takes to pay that off?
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30 years. in two months.
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With a total payment of over $23,000.
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Is it evil to borrow money?
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Absolutely not.
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In fact, our ability to borrow money
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Is one of the reflections of the stability of the nation
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In which we are privileged to live.
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Many places in the world where i've visited, the notion
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Of a 30 year loan for a home would be laughable.
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The governments are too unstable.
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The economies are too unstable.
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Their lives are far too uncertain.
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They couldn't
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Imagine loaning money over a lengthy period of time.
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The fact that we've had that privilege,
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It's a reflection of the values
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That we have held
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Regarding work, integrity, truthfulness, family.
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If you deconstruct all of those things,
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We will lose the stability.
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Another fundamental
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I'd like to suggest is simply to engage in work.
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The dignity of work is not a bad thing.
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Contrary to popular culture, today,
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Work is not a four letter word.
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The bible often refers to money
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By calling it the fruit of our labor.
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It's a very significant connection.
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The bible attaches nobility to labor.
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Scripture teaches that hard work is a good thing,
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That it sharpens our intellect, develops our skills,
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And provides a sense of satisfaction.
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Another tip on how to get your financial house in order is
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You need to distinguish between wants and needs.
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Our vocabulary on the concept of need.
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It's broken.
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You see, we live in a society where there are multi-trillion
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Dollar industries
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Whose primary goal is to make you dissatisfied.
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To convince you that the label in your clothing,
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Or the label on your car, or the label of something
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Your children have,
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Is what defines your value and your self-worth.
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The bible says something different
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That godliness with contentment is great gain.
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One of the things in my life that helped me
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Get a little bit of a handle on this idea of need
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Was when my brother and i traveled to study
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At hebrew university in jerusalem.
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We were allowed to bring two duffel bags
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That contained everything we needed
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For that year of school
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Our linens, our towels, our clothes,
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Our books, our cooking utensils,
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Whatever we needed for the run at the university.
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It had to fit into those two duffel bags.
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Well, that exercise reshaped how i understood
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What was essential and what was not.
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On a national level.
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One other issue that must change is the out of control fraud.
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We have become a nation of thieves.
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No, fraud is just a fancy word for stealing.
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And there are stealing billions of dollars
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From the american people.
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One case of fraud in minnesota that the justice department
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Is litigating.
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It involves a company called ultimate home health.
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The owners submitted $1.4 million
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In false charges to a medicaid program, a program
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Meant to help adults with brain injuries live independently.
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Another case charges a medicaid provider
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With fraudulently billing medicaid
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For $22 million for in-home support services.
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They were either unnecessary or just not provided.
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The justice department's complaint alleges
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That the defendants
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That were charged use the funds they obtained from medicaid
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To purchase, get this.
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And aston martin three porsches, three teslas.
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The expensive jewelry that included five rolex watches.
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Well, i would expect the governors
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And the mayors of the state where billions of dollars
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Are being stolen from taxpayers, both from the local community
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And the federal community to be outraged at that.
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But that's not the response we've seen.
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I'd love to hear our leaders
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Say, we're going to stop collecting income taxes
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Until we can reduce fraud by 50%.
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Wouldn't that be refreshing?
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Well, we as the church cannot sit quiet in this season.
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We must let our voice be heard both now and in the coming
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Elections in november.
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We have an assignment to stand for the truth, to search for it.
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Because the solution to society's
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Ills are not political.
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It's spiritual.
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We must have a faith that is living and vital,
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A faith that requires
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Situational awareness of the world we are living in.
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We must determine to be champions of the truth.
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With all that on the table.
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In a moment, we're going to hear from the former director
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Of the congressional budget office, doug holtz-eakin.
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Now he's the president of american action forum.
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I'll be right back.
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I'll be right back.
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Well, tonight we're joined by the president
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Of the american action forum, doug holtz-eakin.
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Welcome to the show, doug.
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Thanks for having me.
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You know, americans have different indicators
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That they look to to determine the state of the economy.
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You know, for some, it's their bank account.
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For others, it's the price of gas or groceries.
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I'm curious, as an economist,
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What indicators do you pay attention to
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And how do you rate our current economy?
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Well, i pay attention to the overall growth
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Rate of the economy,
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Which is 1.6% in the first three months of this year.
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I'd like to see that number be a little bit higher.
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Then i dig into it and see where's that growth coming from?
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It's very strong growth from the business sector,
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Largely led by investments in ai in the infrastructure we have,
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We've had a big, investment spending boom.
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Household sector looks a little weaker.
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And i have some concerns about that.
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The savings rates fallen from over 5% down to 2.6%
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In the year.
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That usually means
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People are scraping a little bit and can't put away as much.
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We've seen spending on goods, and now services
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Slowed down a little bit.
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That has me concerned.
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And in the most recent data,
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Prices are rising faster than wages.
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And that's that's not something
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That you can put up with for very long.
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So, you know, we're it's a very resilient economy.
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It's moving forward.
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But, you know,
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I mean, vicious i'd like to see us grow a little faster.
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What do you perceive as our biggest economic threat?
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Is it china?
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Debt, inflation, something else?
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I think the near-term, outlook
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Is all driven by iran and global oil markets.
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How long does it take to get the strait of hormuz open?
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It'll take a couple of months
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After that for everything to normalize.
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So, you know, sooner is better on that front.
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No question about it.
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After that, i think something that people
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Don't talk a lot about, but which we ought to pay
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Attention to, is they're renegotiating the united
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States-mexico-canada free trade agreements and,
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That's a big economy in north america.
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And when the tariffs were first imposed
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And they applied to everything that crossed both the canadian
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And the mexican borders, markets were really shocked.
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And since then, we've exempted about 85% of those trades.
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Making sure that we don't get into trouble
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In that negotiation. i think it's something to worry about.
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Well, i've got a video clip from senator rand
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Paul with some opinions about our debt.
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Watch that.
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And then i've got a question.
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Now, there's still 16 big government republicans
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Who don't want to cut any spending.
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And typically they work with the big government democrats.
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And it is a bipartisan spending problem that we have here.
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But most of them, i think, wish that they could be better
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And stronger.
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But i think a lot of them think,
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Well, i can't stake out this position,
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But when i get home, i get
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I get nothing but encouragement. people at home are like,
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Thank you for standing your ground.
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Thank you for standing up for what you said
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You were running on, which was balancing the budget.
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What are your greatest
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Concerns about our current national budget?
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I echo everything the senator said.
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You know, he's better
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Attuned to the politics and the politicians themselves.
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But i know that, you know, you should not have business
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As usual
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Be spend $7 trillion, raise five in taxes, and borrow two.
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That has led to the fact
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That about a million, a trillion of that borrowing
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Is interest on previous borrowing.
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So that interest is now the most rapidly
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Growing part of the federal budget.
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It's bigger than everything but social security.
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It'll pass social security and not very long.
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And and you have a problem if your biggest spending item
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Is what you owe other people.
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And so
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It is time for the united states to get ahold of that deficit,
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Get ahold of the debt, and and change the trajectory.
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And the sooner the congress move on that,
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The better off we'll all be.
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And that would be a miracle
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Of biblical proportions, i think,
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As of may 26th.
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Portfolio. yes.
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As of may 22nd, we have a new fed chair, kevin walsh.
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You know, many are looking to that change
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To think they're going
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To strengthen
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The housing market with some really lofty expectations.
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Do you believe he yields as much power as people lp does?
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The fed doesn't control interest rates.
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The fed controls
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One interest rate, the interest rate on overnight borrowing.
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And certainly they can do what they can on that front.
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But if, for example, they don't get the debt under control,
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All the other interest rates are going to skyrocket.
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And what you pay on your mortgages and your car loans
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And your credit cards are going to go up as well.
00:11:22.341 --> 00:11:24.676
There's no escaping that.
00:11:24.676 --> 00:11:25.811
So, i, there's no reason not to wish kevin walsh
00:11:25.811 --> 00:11:29.148
Nothing but the best.
00:11:29.148 --> 00:11:30.349
He has promised to do business differently.
00:11:30.349 --> 00:11:32.151
And i think we'll see that from the fed.
00:11:32.151 --> 00:11:34.286
He's going to sort of, i think, communicate differently
00:11:34.286 --> 00:11:37.790
Right now.
00:11:37.790 --> 00:11:38.857
The fed overwhelms us with economic projections
00:11:38.857 --> 00:11:41.393
And guidance about maybe rate cuts next time, maybe not.
00:11:41.393 --> 00:11:45.230
He's going to say less and act more.
00:11:45.230 --> 00:11:47.399
And i think it'll be interesting to watch.
00:11:47.399 --> 00:11:50.035
One of the things
00:11:50.469 --> 00:11:51.303
The trump administration has touted
00:11:51.303 --> 00:11:53.005
As their new trump accounts,
00:11:53.005 --> 00:11:54.606
That allows for the head start for our children.
00:11:54.606 --> 00:11:56.642
Maybe they
00:11:56.642 --> 00:11:57.209
Imagine that they could
00:11:57.209 --> 00:11:58.377
Begin to accumulate some wealth earlier in their life.
00:11:58.377 --> 00:12:01.013
Do you see that as a significant contribution,
00:12:01.013 --> 00:12:03.715
Or is that more political dialog?
00:12:03.715 --> 00:12:06.652
It could be a significant contribution.
00:12:06.652 --> 00:12:08.587
We'll see how many people will take up the trump accounts.
00:12:08.587 --> 00:12:11.924
They are, at the outset, essentially.
00:12:11.924 --> 00:12:14.960
Custodial accounts.
00:12:14.960 --> 00:12:15.994
Parents have them on behalf of their children.
00:12:15.994 --> 00:12:18.330
The real issue becomes when those children turn 18,
00:12:18.330 --> 00:12:20.933
Do they continue to use them to build a retirement
00:12:20.933 --> 00:12:24.036
Savings, of a substantial magnitude?
00:12:24.036 --> 00:12:27.406
I hope so, for decades, the us has had a reputation
00:12:27.406 --> 00:12:31.743
As an economy that doesn't save enough.
00:12:31.743 --> 00:12:33.579
And, a lot of our,
00:12:33.579 --> 00:12:36.048
International trade woes come from the fact
00:12:36.048 --> 00:12:37.916
That we have to have money
00:12:37.916 --> 00:12:39.351
Come in from overseas to finance things.
00:12:39.351 --> 00:12:41.720
A lot of people's concerns about social security
00:12:41.720 --> 00:12:43.956
And other issues come from
00:12:43.956 --> 00:12:45.757
The fact that they don't really have a big cushion.
00:12:45.757 --> 00:12:48.360
Building that cushion is the first thing
00:12:48.360 --> 00:12:50.229
That that someone
00:12:50.229 --> 00:12:51.196
Can do to prepare themselves for the future.
00:12:51.196 --> 00:12:53.799
You know,
00:12:53.799 --> 00:12:54.700
It seems to me that one of the strengths
00:12:54.700 --> 00:12:55.701
Of america's economy, over time, through history
00:12:55.701 --> 00:12:58.203
Has been the productivity
00:12:58.203 --> 00:12:59.438
Of the american worker, our commitment to effort,
00:12:59.438 --> 00:13:02.708
Some of those values seem to have slipped a bit.
00:13:02.708 --> 00:13:05.177
Is that my imagination,
00:13:05.177 --> 00:13:07.112
Or do we have to kind of reimagine
00:13:07.112 --> 00:13:08.714
Our way of engaging with work
00:13:08.714 --> 00:13:10.249
In order to get to a better place?
00:13:10.249 --> 00:13:12.184
I don't think it's your imagination.
00:13:12.951 --> 00:13:14.419
I think you're an astute observer.
00:13:14.419 --> 00:13:15.821
And, you know,
00:13:15.821 --> 00:13:17.022
Some of the so-called inputs to things have dropped off.
00:13:17.022 --> 00:13:21.393
Among the large developed economies,
00:13:21.393 --> 00:13:24.029
We have the lowest rate of labor force participation among,
00:13:24.029 --> 00:13:27.266
Prime age males.
00:13:27.666 --> 00:13:29.101
Why is it they're not looking for work?
00:13:29.101 --> 00:13:30.769
That's a concern for me.
00:13:30.769 --> 00:13:32.771
And the, the outcomes are not what they used to be.
00:13:32.771 --> 00:13:36.275
Income per capita in the united states is growing,
00:13:36.275 --> 00:13:38.810
A percentage point slower than it did in the 20th century.
00:13:38.810 --> 00:13:41.313
For example, from 1960 to 2000,
00:13:41.313 --> 00:13:43.548
If we'd kept up the previous pace of growth,
00:13:43.548 --> 00:13:45.717
Everyone in america, man, woman and child
00:13:45.717 --> 00:13:47.519
Would have 25,000 more dollars per year on average.
00:13:47.519 --> 00:13:50.822
I mean, that's a lot of money. i'd like my 25.
00:13:50.822 --> 00:13:53.325
I don't know about you.
00:13:53.325 --> 00:13:54.693
So let's let's get the, the same values back.
00:13:54.693 --> 00:13:58.030
Let's get the headwinds
00:13:58.030 --> 00:13:59.731
To growth, like the deficit out of the way.
00:13:59.731 --> 00:14:02.134
And then america takes care of itself.
00:14:02.134 --> 00:14:04.002
And it's always been able to do that.
00:14:04.002 --> 00:14:06.338
It seems to me
00:14:06.338 --> 00:14:07.239
If we'd focus more on our productivity
00:14:07.239 --> 00:14:09.007
Than our work life balance,
00:14:09.007 --> 00:14:10.642
We would find ourselves at a better place.
00:14:10.642 --> 00:14:13.078
I think that,
00:14:13.078 --> 00:14:15.447
You know, people always.
00:14:15.981 --> 00:14:17.416
But, in this conversation portray work as the bad news
00:14:17.416 --> 00:14:21.119
Works.
00:14:21.320 --> 00:14:22.421
Not that news, work is a great sense of fulfillment.
00:14:22.421 --> 00:14:25.190
Gives people
00:14:25.190 --> 00:14:26.425
A sense of purpose, makes them feel better about themselves.
00:14:26.425 --> 00:14:28.994
And it's the dividing line between,
00:14:29.761 --> 00:14:31.663
Being poor and not poor.
00:14:31.663 --> 00:14:32.898
In america, people who work are far less likely to be poor.
00:14:32.898 --> 00:14:36.368
If you're not working, then then you face a lot of problems.
00:14:36.368 --> 00:14:39.604
Well, doug, we need to take a short break.
00:14:39.604 --> 00:14:40.973
Can you stand by for another segment?
00:14:40.973 --> 00:14:43.041
Sure, ken,
00:14:43.041 --> 00:14:44.276
If you're watching, you have to have your phone in your hand.
00:14:44.276 --> 00:14:46.311
Try logging on to aj now. dot com.
00:14:46.311 --> 00:14:48.347
You can send me an email with your thoughts on this topic.
00:14:48.347 --> 00:14:51.016
I'll be right back.
00:14:51.016 --> 00:14:58.005
I'll be right back.
00:14:58.005 --> 00:15:03.195
We're back now with the president
00:15:03.895 --> 00:15:05.330
Of the american action forum, doug holtz-eakin.
00:15:05.330 --> 00:15:09.101
Let's shift the conversation to eye for a moment.
00:15:09.101 --> 00:15:12.070
Senator warren
00:15:12.070 --> 00:15:13.271
Has recently written an op ed that ran in time magazine.
00:15:13.271 --> 00:15:15.974
She was proposing hefty taxes on the ai industry
00:15:15.974 --> 00:15:19.644
In an effort to fund health care and education.
00:15:19.644 --> 00:15:22.914
It seems to me the politicians never seem
00:15:22.914 --> 00:15:24.950
To stop trying to find ways
00:15:24.950 --> 00:15:26.218
To raise more money, as opposed to cut spending.
00:15:26.218 --> 00:15:30.222
Is that ever going to change?
00:15:30.222 --> 00:15:32.290
I think it has to change.
00:15:32.858 --> 00:15:35.460
The reality is that, you know, as
00:15:35.460 --> 00:15:37.729
I've mentioned before, we have enormous budget deficits
00:15:37.729 --> 00:15:40.732
And the spending is growing more rapidly than the revenues.
00:15:40.732 --> 00:15:45.203
And until you get the spending growth rates to slow down,
00:15:45.203 --> 00:15:48.373
You can raise taxes, but they'll still grow slower
00:15:48.373 --> 00:15:50.742
Than the spending after you raise them
00:15:50.742 --> 00:15:52.110
And you lose the race again.
00:15:52.110 --> 00:15:53.779
Right now, there's a race between spending and revenues.
00:15:53.779 --> 00:15:56.515
Spending will always win. it's stacked that way.
00:15:56.515 --> 00:15:59.351
We've got to change it or we'll never deal
00:15:59.351 --> 00:16:00.819
With the fiscal problems.
00:16:00.819 --> 00:16:02.988
Well, let's stay with the subject of ai for just a moment.
00:16:02.988 --> 00:16:05.724
How does this new technology stand
00:16:05.724 --> 00:16:07.459
To impact our economy for good or bad?
00:16:07.459 --> 00:16:10.529
It's going to impact our economy dramatically.
00:16:11.463 --> 00:16:14.866
There's no question about that.
00:16:14.866 --> 00:16:16.601
A lot of the focus is on jobs. how many jobs will replace
00:16:16.601 --> 00:16:19.204
I think that's a mistake in focus.
00:16:19.204 --> 00:16:21.706
Ai is going to change every job, and in the process,
00:16:22.741 --> 00:16:26.044
It will make americans more productive
00:16:26.044 --> 00:16:28.180
And will benefit from that higher productivity.
00:16:28.180 --> 00:16:30.282
That's always been important in raising the standard of living.
00:16:30.282 --> 00:16:33.452
There will be some jobs that that we that we see
00:16:33.452 --> 00:16:36.121
Get outsourced.
00:16:36.121 --> 00:16:37.255
They're not going to be needed anymore.
00:16:37.255 --> 00:16:38.857
And because they're the key will be to make sure
00:16:38.857 --> 00:16:40.425
That we've done what we always do,
00:16:40.425 --> 00:16:42.127
Which is take those things that are no longer the
00:16:42.127 --> 00:16:44.996
The important items, like buggies
00:16:44.996 --> 00:16:46.765
That became unimportant and move people into professions
00:16:46.765 --> 00:16:49.601
That have some real prospects and give them a real paycheck.
00:16:49.601 --> 00:16:53.105
So, it'll be a challenge, i think.
00:16:53.105 --> 00:16:54.840
There's no question about that.
00:16:54.840 --> 00:16:55.774
But it's a great opportunity as well.
00:16:55.774 --> 00:16:57.776
You know, i'm old enough to remember when the internet
00:16:57.776 --> 00:16:59.411
Was coming online and some of the predictions
00:16:59.411 --> 00:17:01.746
About what it would and wouldn't do.
00:17:01.746 --> 00:17:03.148
And frankly, most of them were inaccurate.
00:17:03.148 --> 00:17:05.617
So i feel that kind of way about ai.
00:17:05.617 --> 00:17:07.152
It's going to be more about our character
00:17:07.152 --> 00:17:09.121
And how our character helps us shape that technology for
00:17:09.121 --> 00:17:11.890
Good or evil.
00:17:11.890 --> 00:17:12.791
It is absolutely about character.
00:17:13.558 --> 00:17:15.760
There's a big, you know, tussle about regulating ai.
00:17:15.760 --> 00:17:18.830
A lot of ai is just tools.
00:17:19.397 --> 00:17:21.299
If you use
00:17:21.299 --> 00:17:22.534
Ai to decide whether to pay a health insurance claim or not,
00:17:22.534 --> 00:17:25.270
It doesn't matter if it was ai or human.
00:17:25.270 --> 00:17:27.105
What matters is whether you pay the right claims.
00:17:27.105 --> 00:17:29.474
And we judged firms by whether they do that,
00:17:29.474 --> 00:17:31.943
So that ai doesn't change any of that.
00:17:31.943 --> 00:17:34.613
Then for the tough calls, it's the ethical use of ai
00:17:34.613 --> 00:17:37.382
That we have to be cognizant of.
00:17:37.382 --> 00:17:39.117
And making sure that people use ai ethically
00:17:39.117 --> 00:17:42.020
Is more important than what ai is.
00:17:42.020 --> 00:17:43.455
It's a human creation, and a human will run it.
00:17:43.455 --> 00:17:46.625
And so we need to be cognizant of that and pay attention to
00:17:46.625 --> 00:17:49.661
Our ethics.
00:17:49.661 --> 00:17:50.695
Well, iran continues to dominate the news cycle,
00:17:51.696 --> 00:17:54.166
And it seems we're always moments away from a ceasefire.
00:17:54.166 --> 00:17:57.936
And yet the turmoil continues on.
00:17:57.936 --> 00:18:01.173
What are the real world impacts
00:18:01.173 --> 00:18:02.774
To our economy from that conflict in iran?
00:18:02.774 --> 00:18:05.110
I know the strait of hormuz is part of that,
00:18:05.110 --> 00:18:07.512
But can you help us a little bit with the bigger picture?
00:18:07.512 --> 00:18:10.115
The strait of hormuz is part of that.
00:18:10.115 --> 00:18:11.716
But, lingering, past
00:18:11.716 --> 00:18:14.819
That is just a lot of uncertainty about,
00:18:14.819 --> 00:18:18.023
The state of international relations.
00:18:18.023 --> 00:18:19.524
And for the business community, that means, you know,
00:18:19.524 --> 00:18:22.627
Where do i get my supplies from?
00:18:22.627 --> 00:18:24.196
What do i do in the u.s.?
00:18:24.196 --> 00:18:25.330
What do i you know, i have export, customers.
00:18:25.330 --> 00:18:27.732
Am i going to be able to use the supply chains that i used to?
00:18:27.732 --> 00:18:30.168
So it sort of freezes all that decision making,
00:18:30.168 --> 00:18:32.370
And that's that's not great.
00:18:32.370 --> 00:18:34.206
And as this sort of draws out, it's expensive.
00:18:34.206 --> 00:18:37.309
It's we've spent, something like $70 million total, on this.
00:18:37.309 --> 00:18:41.846
And we're going to have to
00:18:41.846 --> 00:18:43.348
Replace all the munitions that have been used.
00:18:43.348 --> 00:18:45.250
And that means more spending.
00:18:45.250 --> 00:18:47.152
And, you know, we've not seen congress
00:18:47.152 --> 00:18:48.887
Willing to cut somewhere else.
00:18:48.887 --> 00:18:50.288
So that's more stress on the budget,
00:18:50.288 --> 00:18:52.290
Which leads to more stress and interest rates.
00:18:52.290 --> 00:18:54.459
You start getting stress on interest rates.
00:18:54.459 --> 00:18:56.161
That's everything everywhere in the economy.
00:18:56.161 --> 00:18:57.495
There's no way around that.
00:18:57.495 --> 00:18:59.064
What about
00:18:59.064 --> 00:18:59.898
I know there's been a reduction of oil
00:18:59.898 --> 00:19:00.966
That's available for china from iran and venezuela.
00:19:00.966 --> 00:19:03.969
So there's some sense that it's maybe a shift
00:19:03.969 --> 00:19:06.271
In the balance of power or rebalancing trade.
00:19:06.271 --> 00:19:08.807
So going to work in our favor over time.
00:19:08.807 --> 00:19:11.643
One of the things we've learned
00:19:12.277 --> 00:19:13.278
Is that, you know, this isn't, 2008 anymore.
00:19:13.278 --> 00:19:16.348
And, the u.s.
00:19:16.348 --> 00:19:17.949
Is the world's largest exporter of natural gas.
00:19:17.949 --> 00:19:20.252
It's the largest producer and a major exporter of oil.
00:19:20.252 --> 00:19:23.622
And these oil price shocks
00:19:24.189 --> 00:19:25.290
Don't have the same impact that they used to
00:19:25.290 --> 00:19:27.392
That that moves in the us favor.
00:19:27.392 --> 00:19:29.361
We are the
00:19:29.361 --> 00:19:30.328
The future of these energy supplies,
00:19:30.328 --> 00:19:32.230
And they can't really be used to hold us hostage.
00:19:32.230 --> 00:19:35.200
It can affect the globe, and they can affect,
00:19:35.200 --> 00:19:37.202
The pace of economic growth.
00:19:37.202 --> 00:19:38.670
But the balance of power has already shifted,
00:19:38.670 --> 00:19:40.538
And it's because of the production expansion
00:19:40.538 --> 00:19:42.707
We've done over the past two decades.
00:19:42.707 --> 00:19:45.110
One last question.
00:19:45.110 --> 00:19:46.311
I know it's an election cycle.
00:19:46.311 --> 00:19:47.579
And so there's a lot of polarization.
00:19:47.579 --> 00:19:49.781
Are you an optimist or a pessimist?
00:19:49.781 --> 00:19:51.316
When you look at the economy and our future?
00:19:51.316 --> 00:19:53.351
Oh, i'm an optimist.
00:19:53.818 --> 00:19:55.687
You know, the, the, the power of the american people
00:19:55.687 --> 00:19:58.990
To be productive, innovative and to succeed is unbounded.
00:19:58.990 --> 00:20:02.894
And all they need is the willingness
00:20:02.894 --> 00:20:06.064
Of the government to give them the freedom necessary to do it.
00:20:06.064 --> 00:20:09.067
And, we've always had a government
00:20:09.067 --> 00:20:10.835
That was wise enough to,
00:20:10.835 --> 00:20:12.137
To keep, relatively small and contained
00:20:12.137 --> 00:20:15.206
That to make sure that continues to be true.
00:20:15.206 --> 00:20:16.608
And we'll be fine.
00:20:16.608 --> 00:20:18.543
Doug, i thank you for your time today.
00:20:18.543 --> 00:20:20.078
We appreciate your thoughtful insight.
00:20:20.078 --> 00:20:22.347
Thank you. thanks for having me.
00:20:22.347 --> 00:20:24.082
In a moment, we'll look at some of your emails.
00:20:24.082 --> 00:20:26.151
We'll be right back.
00:20:26.151 --> 00:20:33.006
We'll be right back.
00:20:33.006 --> 00:20:37.763
Thank you for taking the time to send us your thoughts.
00:20:38.898 --> 00:20:41.967
Your emails and opinions are always a highlight.
00:20:41.967 --> 00:20:44.670
Paul, from maryland wrote, isn't it time to point out
00:20:44.670 --> 00:20:48.007
The undeniable fact
00:20:48.007 --> 00:20:49.141
That the 90 pounds of uranium in iran
00:20:49.141 --> 00:20:51.610
That threatened
00:20:51.610 --> 00:20:52.745
The entire western world, including every american,
00:20:52.745 --> 00:20:55.314
Was funded by the obama
00:20:55.314 --> 00:20:58.050
And more recently, the biden administration.
00:20:58.050 --> 00:21:00.119
How in the world is that not the buzz?
00:21:00.119 --> 00:21:02.855
Well, paul, it's an interesting observation,
00:21:02.855 --> 00:21:04.290
But i heard a conversation
00:21:04.290 --> 00:21:05.491
In the last day or two that fascinated me.
00:21:05.491 --> 00:21:07.927
It was an obama acolyte in the media cycle
00:21:07.927 --> 00:21:11.864
Comparing the obama iran deal with what
00:21:11.864 --> 00:21:15.768
Trump is accomplishing,
00:21:15.768 --> 00:21:17.536
And they were trying to say that they were very much parallel.
00:21:17.536 --> 00:21:20.940
I never thought i would hear the obama camp, obama
00:21:20.940 --> 00:21:24.176
Trying to allied themselves with trump's foreign policy.
00:21:24.176 --> 00:21:27.480
There must be the imagination that trump is succeeding,
00:21:27.480 --> 00:21:29.648
Or that group wouldn't be trying to stay on those coattails.
00:21:29.648 --> 00:21:33.786
Fascinating.
00:21:34.120 --> 00:21:35.087
God has to be moving in the earth.
00:21:35.087 --> 00:21:37.490
Harland from michigan wrote.
00:21:37.490 --> 00:21:39.358
Why is the end of life so ugly?
00:21:39.358 --> 00:21:42.027
Pain, physical disabilities, mental decline, anxiety
00:21:42.027 --> 00:21:45.331
And depression?
00:21:45.331 --> 00:21:46.665
It's a good question, harland.
00:21:46.665 --> 00:21:48.367
You know, the end of life is a transition
00:21:48.367 --> 00:21:50.736
And all transitions are difficult.
00:21:50.736 --> 00:21:52.638
They're never easy, does it?
00:21:52.638 --> 00:21:54.440
Doesn't matter what the transition is
00:21:54.440 --> 00:21:56.542
For the christ follower, the end of life is an upgrade.
00:21:56.542 --> 00:21:59.912
So it may be a difficult season and we recognize some decline
00:21:59.912 --> 00:22:03.215
As we age.
00:22:03.215 --> 00:22:04.316
But there is something that awaits us that far exceeds
00:22:04.316 --> 00:22:08.120
The pain of the deterioration of this temporary life
00:22:08.120 --> 00:22:11.624
Suit that we inhabit.
00:22:11.624 --> 00:22:13.726
It's the reason we choose jesus as lord and serve him
00:22:13.726 --> 00:22:16.862
With enthusiasm.
00:22:16.862 --> 00:22:18.431
God's moving in the earth.
00:22:18.431 --> 00:22:19.899
I hope you know him and i pray that you have a restful evening.
00:22:19.899 --> 00:22:23.702
God bless you.
00:22:23.702 --> 00:22:23.702

Allen Jackson: Economic Indicators | Allen Jackson Now

June 3, 2026 | 22:31

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