Michael Faulkender joins Allen Jackson to discuss current events.
#News
#Politics
#Government
#Leadership
#Leaders
#Money
#Finances
#Economy
#Stealing
#Lies
#Deception
#Injustice
#Evil
#Character
#Integrity
#Honesty
#Truth
#Tradition-American
#AllenJackson
Closed captions
Show Timecode
Allen Jackson NOW | Allen Jackson: Economic Outlook | Allen Jackson Now | May 27, 2026
- Well, good evening and welcome to nashville.
- 00:00:17.442 --> 00:00:19.778
- I'm alan jackson.
- 00:00:19.778 --> 00:00:21.246
- During the covid pandemic, americans were told
- 00:00:21.246 --> 00:00:23.748
- That the federal government
- 00:00:23.748 --> 00:00:24.783
- Had to move quickly and to spend aggressively.
- 00:00:24.783 --> 00:00:27.519
- Washington opened the spending floodgates.
- 00:00:27.519 --> 00:00:29.521
- They loosened safeguards and pushed enormous amounts
- 00:00:29.521 --> 00:00:32.357
- Of taxpayer money into emergency programs across the country.
- 00:00:32.357 --> 00:00:36.695
- Well, now we're seeing the consequences of what happens
- 00:00:36.695 --> 00:00:39.131
- When trillions of dollars move faster than accountability.
- 00:00:39.131 --> 00:00:43.068
- Tonight, one of the clearest examples
- 00:00:43.068 --> 00:00:44.903
- Is unfolding in minnesota,
- 00:00:44.903 --> 00:00:46.872
- Where federal prosecutors say a nonprofit organization called
- 00:00:46.872 --> 00:00:50.342
- Feeding our future
- 00:00:50.342 --> 00:00:51.910
- Became the center of what the justice department described
- 00:00:51.910 --> 00:00:54.346
- As the single largest covid fraud scheme in the country.
- 00:00:54.346 --> 00:00:58.817
- According to investigators, while the organization claimed
- 00:00:58.817 --> 00:01:01.186
- To be feeding millions of needy children
- 00:01:01.186 --> 00:01:02.954
- During the pandemic,
- 00:01:02.954 --> 00:01:04.356
- Fake meal accounts, fabricated paperwork, phony
- 00:01:04.356 --> 00:01:06.925
- Distribution sites and kickbacks
- 00:01:06.925 --> 00:01:08.860
- Were used to move enormous amounts
- 00:01:08.860 --> 00:01:10.595
- Of taxpayer money through the system.
- 00:01:10.595 --> 00:01:13.098
- Amy bok, the former head of the nonprofit well,
- 00:01:13.098 --> 00:01:15.534
- She was sentenced to nearly 42 years in prison
- 00:01:15.534 --> 00:01:18.737
- For orchestrating
- 00:01:18.737 --> 00:01:19.838
- What investigators say was a $250 million fraud scheme.
- 00:01:19.838 --> 00:01:24.242
- Prosecutors also allege taxpayer funds were funneled into
- 00:01:24.242 --> 00:01:27.345
- Luxury homes, expensive cars, international travel.
- 00:01:27.345 --> 00:01:31.216
- While the program itself,
- 00:01:31.216 --> 00:01:32.551
- It surged by nearly 2,800% in just one year.
- 00:01:32.551 --> 00:01:37.389
- Well, now another a
- 00:01:37.856 --> 00:01:38.890
- Major fraud case has emerged in the same state,
- 00:01:38.890 --> 00:01:41.826
- This time
- 00:01:41.826 --> 00:01:43.061
- Involving autism therapy centers accused of billing medicaid
- 00:01:43.061 --> 00:01:46.264
- For fake autism,
- 00:01:46.264 --> 00:01:47.332
- Diagnosis of children, and services
- 00:01:47.332 --> 00:01:49.668
- That may never have been provided.
- 00:01:49.668 --> 00:01:51.803
- The charges describe a scheme where defendants
- 00:01:51.803 --> 00:01:54.472
- Paid illegal cash kickbacks of approximately 300
- 00:01:54.472 --> 00:01:58.510
- To $1500 per child to parents that enrolled their children
- 00:01:58.510 --> 00:02:03.048
- In autism therapy services that were not needed.
- 00:02:03.048 --> 00:02:06.117
- Well, the white house says cases like
- 00:02:06.918 --> 00:02:08.420
- These are
- 00:02:08.420 --> 00:02:09.654
- Exactly why the administration launched a nationwide anti-fraud
- 00:02:09.654 --> 00:02:12.657
- Initiative in march.
- 00:02:12.657 --> 00:02:14.092
- It's an effort being led by vice president j.d.
- 00:02:14.092 --> 00:02:16.494
- Vance.
- 00:02:16.494 --> 00:02:18.363
- You know, i'm grateful for the steps
- 00:02:18.363 --> 00:02:19.631
- That are being taken by our current administration
- 00:02:19.631 --> 00:02:21.900
- To cut waste and fraud, to expose the looting of america.
- 00:02:21.900 --> 00:02:26.104
- Candidly, it's just stealing.
- 00:02:26.104 --> 00:02:28.640
- We need to reframe our expectations.
- 00:02:28.640 --> 00:02:30.609
- And it isn't just about making america great again.
- 00:02:30.609 --> 00:02:33.478
- It's about restoring integrity again.
- 00:02:33.478 --> 00:02:36.848
- Integrity matters.
- 00:02:36.848 --> 00:02:38.516
- Character still matters.
- 00:02:38.516 --> 00:02:40.952
- You know, fraud is kind of an antiseptic word.
- 00:02:40.952 --> 00:02:43.355
- It feels like it's victimless, but it's not victimless.
- 00:02:43.355 --> 00:02:46.858
- Fraud is stealing.
- 00:02:46.858 --> 00:02:48.326
- It's every bit as much as stealing.
- 00:02:48.326 --> 00:02:50.262
- As if somebody went to the bank and took money from the bank.
- 00:02:50.262 --> 00:02:53.665
- Your money. you're mine.
- 00:02:53.665 --> 00:02:55.667
- Fraud is.
- 00:02:55.667 --> 00:02:56.334
- If someone went to the local
- 00:02:56.334 --> 00:02:57.402
- Mom and pop shop, walked over to the cash register
- 00:02:57.402 --> 00:02:59.571
- While the owners weren't looking.
- 00:02:59.571 --> 00:03:01.006
- Broke it open and took the family's hard earned cash.
- 00:03:01.006 --> 00:03:04.509
- How would you feel if your car was stolen?
- 00:03:04.509 --> 00:03:06.778
- And then the police
- 00:03:06.778 --> 00:03:07.979
- Downplayed it and said, oh, your car really wasn't stolen.
- 00:03:07.979 --> 00:03:10.515
- Somebody fraudulently misplaced your car.
- 00:03:10.515 --> 00:03:13.218
- And to make matters worse, the authorities
- 00:03:13.218 --> 00:03:14.786
- Didn't do anything about it.
- 00:03:14.786 --> 00:03:16.855
- Nope.
- 00:03:17.088 --> 00:03:17.722
- The thief stole your car.
- 00:03:17.722 --> 00:03:18.823
- And there should be consequences
- 00:03:18.823 --> 00:03:20.125
- To the fullest extent of the law.
- 00:03:20.125 --> 00:03:22.494
- Accountability has been lacking across the board
- 00:03:22.494 --> 00:03:24.796
- With our elected officials.
- 00:03:24.796 --> 00:03:26.431
- When first confronted about the fraud,
- 00:03:26.431 --> 00:03:27.932
- Minnesota governor tim walz,
- 00:03:27.932 --> 00:03:29.567
- He pushed back, accusing
- 00:03:29.567 --> 00:03:30.869
- Republicans of politicizing the situation.
- 00:03:30.869 --> 00:03:33.938
- It actually took an independent journalist with a camera
- 00:03:33.938 --> 00:03:36.241
- And some curiosity
- 00:03:36.241 --> 00:03:37.809
- Not to state government, and certainly not
- 00:03:37.809 --> 00:03:39.377
- The mainstream media, to force national attention
- 00:03:39.377 --> 00:03:42.013
- Under the gravity of fraud taking place in plain sight.
- 00:03:42.013 --> 00:03:45.650
- It exposed a staggering failure of oversight.
- 00:03:45.650 --> 00:03:48.286
- There were whistleblowers, auditors and state employees
- 00:03:48.286 --> 00:03:50.655
- Who had reportedly raised concerns for years,
- 00:03:50.655 --> 00:03:53.024
- While taxpayer money just continued flowing out the door.
- 00:03:53.024 --> 00:03:56.661
- Well, upon this massive exposure of stealing
- 00:03:56.661 --> 00:03:58.763
- That happened under his watch, tim walz announced that
- 00:03:58.763 --> 00:04:01.800
- He's dropping his 2026 reelection bid for governor.
- 00:04:01.800 --> 00:04:05.537
- He also stated that he will never run
- 00:04:05.537 --> 00:04:07.372
- For an elected office again. never again.
- 00:04:07.372 --> 00:04:10.909
- Well, it's staggering to think that in our last
- 00:04:10.909 --> 00:04:12.644
- National election,
- 00:04:12.644 --> 00:04:13.878
- This man was positioned to be our nation's vice president.
- 00:04:13.878 --> 00:04:17.382
- There are people that suffer when other people steal.
- 00:04:17.382 --> 00:04:20.585
- Fraud is not a matter of opinion.
- 00:04:20.585 --> 00:04:22.487
- You're taking something you don't deserve
- 00:04:22.487 --> 00:04:24.856
- And you know it.
- 00:04:24.856 --> 00:04:26.658
- During the pandemic, covid money was introduced to the masses
- 00:04:26.658 --> 00:04:30.762
- Masses who by and large didn't go to work for
- 00:04:30.762 --> 00:04:33.231
- Several weeks or even months, but rather stayed home.
- 00:04:33.231 --> 00:04:36.801
- And when the population collected these covid checks,
- 00:04:36.801 --> 00:04:39.571
- It was like getting introduced
- 00:04:39.571 --> 00:04:40.939
- To some addictive substance cocaine.
- 00:04:40.939 --> 00:04:43.675
- Now we use society.
- 00:04:43.675 --> 00:04:44.876
- We've got an addiction.
- 00:04:44.876 --> 00:04:46.311
- We like the buzz, we like the outcome,
- 00:04:46.311 --> 00:04:48.813
- And we don't like to be told
- 00:04:48.813 --> 00:04:50.281
- We have to do the hard work
- 00:04:50.281 --> 00:04:51.716
- And become sober minded people again.
- 00:04:51.716 --> 00:04:54.552
- We don't like to be told that you can't
- 00:04:54.552 --> 00:04:55.854
- Spend what you don't earn.
- 00:04:55.854 --> 00:04:57.622
- We shouldn't spend time trying to figure out more ways
- 00:04:58.656 --> 00:05:01.126
- That we can game the system,
- 00:05:01.126 --> 00:05:02.694
- To get more free stuff from the government.
- 00:05:02.694 --> 00:05:05.296
- As a people who adhere to a biblical worldview.
- 00:05:05.296 --> 00:05:08.266
- Let's hold to the high ground.
- 00:05:08.266 --> 00:05:09.968
- Whether we're sellers,
- 00:05:09.968 --> 00:05:11.035
- Buyers, employers, employees, or service providers.
- 00:05:11.035 --> 00:05:14.406
- God expects us to act with fairness.
- 00:05:14.406 --> 00:05:17.509
- Unfortunately, many of us have forgotten
- 00:05:17.509 --> 00:05:19.444
- Or at least ignored god's instructions
- 00:05:19.444 --> 00:05:21.613
- And have adopted behaviors that reflect the culture around us.
- 00:05:21.613 --> 00:05:25.016
- The lord is not pleased
- 00:05:25.517 --> 00:05:26.584
- When we attempt to justify any kind of dishonesty.
- 00:05:26.584 --> 00:05:29.687
- Integrity is what god expects of his people,
- 00:05:29.687 --> 00:05:32.490
- And that is what each of us should strive for.
- 00:05:32.490 --> 00:05:35.393
- You can't give away your integrity
- 00:05:35.393 --> 00:05:36.828
- And think that you can maintain your momentum with god.
- 00:05:36.828 --> 00:05:40.031
- So let's decide, as people of god, to model
- 00:05:40.031 --> 00:05:42.534
- Integrity before others in all our interactions and dealings.
- 00:05:42.534 --> 00:05:46.037
- Let's make it our objective
- 00:05:46.037 --> 00:05:47.405
- To be men and women who are honest in every way.
- 00:05:47.405 --> 00:05:50.909
- Let's ask god to grow us, mold us, train us
- 00:05:50.909 --> 00:05:53.778
- So we're ready for whatever is ahead
- 00:05:53.778 --> 00:05:56.815
- Or that
- 00:05:57.048 --> 00:05:57.749
- We're going to be joined in
- 00:05:57.749 --> 00:05:58.850
- Just a moment by the co-chair of american prosperity
- 00:05:58.850 --> 00:06:02.187
- At the america first policy institute, michael ender.
- 00:06:02.187 --> 00:06:06.157
- I'll be right back.
- 00:06:06.157 --> 00:06:07.158
- Just after this break.
- 00:06:07.158 --> 00:06:15.001
- Just after this break.
- 00:06:15.001 --> 00:06:19.638
- We're joined tonight by the co-chair
- 00:06:20.406 --> 00:06:22.208
- Of american prosperity
- 00:06:22.208 --> 00:06:23.843
- At the america first policy institute, michael ender.
- 00:06:23.843 --> 00:06:27.079
- Welcome to the show, sir.
- 00:06:27.079 --> 00:06:29.248
- Great to be with you, michael.
- 00:06:29.248 --> 00:06:31.016
- President trump has been in office
- 00:06:31.016 --> 00:06:32.351
- For nearly a year and a half,
- 00:06:32.351 --> 00:06:34.086
- And he's been successful at a lot of things.
- 00:06:34.086 --> 00:06:36.589
- An unprecedented number of things.
- 00:06:36.589 --> 00:06:38.557
- But there still seem to be
- 00:06:38.557 --> 00:06:39.492
- Some lingering questions about the economy
- 00:06:39.492 --> 00:06:42.027
- And what it holds for the future.
- 00:06:42.027 --> 00:06:43.929
- What's your take on that?
- 00:06:43.929 --> 00:06:46.632
- Sure.
- 00:06:46.632 --> 00:06:47.833
- So if you look at the progress that the president has made,
- 00:06:47.833 --> 00:06:49.835
- You know,
- 00:06:49.835 --> 00:06:50.703
- On a number of different dimensions,
- 00:06:50.703 --> 00:06:51.770
- We have seen vast improvements over where things were
- 00:06:51.770 --> 00:06:54.273
- When the president first came into office.
- 00:06:54.273 --> 00:06:56.008
- And so if you look at the fact that we were able
- 00:06:56.008 --> 00:06:58.077
- To get the tax bill through the congress
- 00:06:58.077 --> 00:06:59.979
- And to the president's desk last july
- 00:06:59.979 --> 00:07:01.947
- So that the american people didn't realize a $4 trillion
- 00:07:01.947 --> 00:07:04.984
- Tax increase at the beginning of this year,
- 00:07:04.984 --> 00:07:07.052
- You see massive deregulation going on, whereby
- 00:07:07.052 --> 00:07:09.822
- The cost of businesses
- 00:07:09.822 --> 00:07:11.257
- To comply with various regulations has improved.
- 00:07:11.257 --> 00:07:14.527
- The president
- 00:07:14.894 --> 00:07:15.461
- Eliminated things
- 00:07:15.461 --> 00:07:16.328
- Like the electric vehicle mandate
- 00:07:16.328 --> 00:07:17.830
- So that people can buy the kinds of cars
- 00:07:17.830 --> 00:07:19.532
- They want to buy,
- 00:07:19.532 --> 00:07:20.766
- Rather than forced to buy cars that they're not interested in.
- 00:07:20.766 --> 00:07:23.469
- And we had made a lot of progress to continue.
- 00:07:23.469 --> 00:07:25.704
- What what began in the first term,
- 00:07:25.704 --> 00:07:27.907
- Which is to increase
- 00:07:27.907 --> 00:07:29.008
- Our capacity to engage in domestic energy production.
- 00:07:29.008 --> 00:07:32.778
- Now, obviously, recently, with the hostilities going on in
- 00:07:32.778 --> 00:07:37.082
- Iran, that has temporarily
- 00:07:37.082 --> 00:07:38.517
- Had some impact on the cost of oil
- 00:07:38.517 --> 00:07:41.320
- And therefore the cost of gasoline.
- 00:07:41.320 --> 00:07:43.355
- We keep hearing that the president
- 00:07:43.355 --> 00:07:44.857
- Is making a strong president, and his team
- 00:07:44.857 --> 00:07:46.825
- Are making strong progress on resolving that issue.
- 00:07:46.825 --> 00:07:49.795
- And so markets seem to be forecasting
- 00:07:49.795 --> 00:07:52.565
- That gas prices will be coming down
- 00:07:52.565 --> 00:07:54.600
- Later this summer and into the fall.
- 00:07:54.600 --> 00:07:56.468
- I'd say that's really
- 00:07:56.468 --> 00:07:57.503
- The biggest
- 00:07:57.503 --> 00:07:58.537
- Affordability challenge
- 00:07:58.537 --> 00:07:59.738
- That the american people have right now.
- 00:07:59.738 --> 00:08:01.574
- But again, every day the military and the president's
- 00:08:01.574 --> 00:08:04.476
- Diplomatic team continue to make progress.
- 00:08:04.476 --> 00:08:06.478
- To try to resolve that situation
- 00:08:06.478 --> 00:08:08.514
- And get the strait of hormuz reopened.
- 00:08:08.514 --> 00:08:10.683
- So fortunately, all of the other policies
- 00:08:10.683 --> 00:08:13.452
- Have given a lot of tailwinds to the economy.
- 00:08:13.452 --> 00:08:16.188
- And so, despite what normally would be
- 00:08:16.188 --> 00:08:18.757
- A very significant impact on the economy of
- 00:08:18.757 --> 00:08:21.160
- Of the very fast rising gas prices, you've seen
- 00:08:21.160 --> 00:08:24.463
- The economies resiliency and it's still continue to grow.
- 00:08:24.463 --> 00:08:27.666
- And then finally, let me mention that,
- 00:08:27.666 --> 00:08:29.668
- With the improvements in the artificial intelligence
- 00:08:30.703 --> 00:08:34.173
- That has enormous opportunities for us to be significantly
- 00:08:34.173 --> 00:08:38.277
- More productive, and it's ultimately productivity
- 00:08:38.277 --> 00:08:41.380
- That helps get people higher wages.
- 00:08:41.380 --> 00:08:44.383
- And also,
- 00:08:44.383 --> 00:08:44.883
- It has enormous
- 00:08:44.883 --> 00:08:45.918
- National security implications because we need to
- 00:08:45.918 --> 00:08:48.253
- Win the ai race against china.
- 00:08:48.253 --> 00:08:50.155
- So there are on so many different dimensions.
- 00:08:50.155 --> 00:08:52.725
- The president and his team are moving very quickly.
- 00:08:52.725 --> 00:08:55.327
- And we had api.
- 00:08:55.327 --> 00:08:56.662
- We're very happy
- 00:08:56.662 --> 00:08:57.763
- To have participated in creating a lot of the agenda
- 00:08:57.763 --> 00:09:00.466
- That the administration implemented in its first year.
- 00:09:00.466 --> 00:09:03.068
- And i think
- 00:09:03.068 --> 00:09:04.136
- We're really starting to see the benefits of it.
- 00:09:04.136 --> 00:09:05.704
- And that will really become clear
- 00:09:05.704 --> 00:09:07.506
- After this issue in the middle east gets resolved.
- 00:09:07.506 --> 00:09:10.776
- Well, you mentioned the big beautiful bill and the tax cuts
- 00:09:10.776 --> 00:09:13.812
- That were part of that.
- 00:09:13.812 --> 00:09:14.947
- It's tax season again.
- 00:09:14.947 --> 00:09:17.116
- My appetite for paying taxes has been pretty
- 00:09:17.116 --> 00:09:19.652
- Significantly diminished
- 00:09:19.652 --> 00:09:20.819
- By all the news of the fraud that is so rampant.
- 00:09:20.819 --> 00:09:24.223
- Watch this comment by somebody
- 00:09:24.223 --> 00:09:26.091
- Who's saying those days are coming to an end.
- 00:09:26.091 --> 00:09:27.926
- And then i want to get your comment.
- 00:09:27.926 --> 00:09:29.662
- And now my message to the fraudsters
- 00:09:30.429 --> 00:09:33.098
- Is this eat, drink and be merry.
- 00:09:33.098 --> 00:09:37.336
- Today because your days of frolicking
- 00:09:37.336 --> 00:09:41.173
- And freedom are numbered.
- 00:09:41.173 --> 00:09:43.876
- We are doing everything we can to find you
- 00:09:43.876 --> 00:09:47.646
- And when we do, we will prosecute you
- 00:09:47.646 --> 00:09:50.849
- And we will claw back every dollar you have stolen
- 00:09:50.849 --> 00:09:54.787
- From the american people.
- 00:09:54.787 --> 00:09:57.723
- I think all of us are appalled
- 00:09:57.723 --> 00:09:59.425
- By the magnitude of the fraud that's been taking place.
- 00:09:59.425 --> 00:10:02.828
- Do you think we can really make a meaningful difference
- 00:10:02.828 --> 00:10:05.364
- In this habit that's become so entrenched?
- 00:10:05.364 --> 00:10:08.434
- I really do,
- 00:10:08.767 --> 00:10:09.702
- Because all too often what has happened
- 00:10:09.702 --> 00:10:11.503
- Is that in the states in particular,
- 00:10:11.503 --> 00:10:13.839
- And unfortunately, it's largely a number of the blue states
- 00:10:13.839 --> 00:10:16.842
- Have not done the investigations into how federal money
- 00:10:16.842 --> 00:10:20.746
- That comes out to the states through various block
- 00:10:20.746 --> 00:10:23.048
- Grant programs are being utilized.
- 00:10:23.048 --> 00:10:25.417
- These states are just more than happy to have the money go out.
- 00:10:25.417 --> 00:10:28.153
- And they have not at all
- 00:10:28.153 --> 00:10:29.088
- Been seeing
- 00:10:29.088 --> 00:10:30.022
- Whether it has gone to the right people
- 00:10:30.022 --> 00:10:31.690
- Or is it instead gone to the fraudsters.
- 00:10:31.690 --> 00:10:33.792
- And so whether it's the fraud
- 00:10:33.792 --> 00:10:35.594
- That's been uncovered
- 00:10:35.594 --> 00:10:36.662
- In minnesota or it's what's going on in california,
- 00:10:36.662 --> 00:10:39.598
- What congress really needs to do.
- 00:10:39.598 --> 00:10:41.366
- And you see vice president vance really leading
- 00:10:41.366 --> 00:10:44.837
- The investigation into where this fraud is taking place.
- 00:10:44.837 --> 00:10:47.840
- But what congress needs to do is make sure
- 00:10:47.840 --> 00:10:49.575
- That these states and localities that receive federal money
- 00:10:49.575 --> 00:10:52.878
- Are actually enforcing the law that they are investigating
- 00:10:52.878 --> 00:10:56.615
- Whether the people that are receiving
- 00:10:56.615 --> 00:10:58.383
- These grants are actually eligible,
- 00:10:58.383 --> 00:11:00.018
- That they're using it for the intended purpose,
- 00:11:00.018 --> 00:11:02.221
- Rather than it going to various fraud activities.
- 00:11:02.221 --> 00:11:05.157
- And i think just the attention that the
- 00:11:05.157 --> 00:11:07.326
- These recent incidents have generated
- 00:11:07.326 --> 00:11:09.361
- And the outrage of the american people
- 00:11:09.361 --> 00:11:11.764
- Are really going to force
- 00:11:11.764 --> 00:11:13.198
- Some of these local and state governments
- 00:11:13.198 --> 00:11:15.467
- To spend more attention on where this money is going,
- 00:11:15.467 --> 00:11:18.670
- And put in place
- 00:11:18.670 --> 00:11:19.671
- The resources to make sure that it is not being
- 00:11:19.671 --> 00:11:22.708
- Taken up by the fraudsters,
- 00:11:22.708 --> 00:11:23.976
- Because there are estimates that it's in the tens,
- 00:11:23.976 --> 00:11:26.545
- If not hundreds of billions of dollars per year.
- 00:11:26.545 --> 00:11:29.381
- That is going to fraud and using modern technology
- 00:11:29.381 --> 00:11:32.751
- Using investigatory devices that already exist.
- 00:11:32.751 --> 00:11:35.821
- We should be able to cut back on a number of those
- 00:11:35.821 --> 00:11:38.824
- Of those fraud schemes.
- 00:11:38.824 --> 00:11:41.226
- Well, inflation continues to
- 00:11:41.827 --> 00:11:43.395
- Be a leading concern for working families.
- 00:11:43.395 --> 00:11:45.798
- You think we're doing everything we can
- 00:11:45.798 --> 00:11:47.399
- Or what can be done to curb that inflation?
- 00:11:47.399 --> 00:11:49.802
- Challenge is still is such a real thing.
- 00:11:49.802 --> 00:11:52.871
- Yeah.
- 00:11:53.105 --> 00:11:54.039
- So on inflation let me say that obviously
- 00:11:54.039 --> 00:11:55.340
- There's the gas price piece that has been driving
- 00:11:55.340 --> 00:11:57.609
- A lot of the inflation number the last two months.
- 00:11:57.609 --> 00:11:59.845
- But beyond that
- 00:11:59.845 --> 00:12:01.013
- There are things that we can do to bring down the cost
- 00:12:01.013 --> 00:12:03.749
- Of new construction on housing.
- 00:12:03.749 --> 00:12:05.217
- So housing is about a third of of the average americans budget.
- 00:12:05.217 --> 00:12:09.421
- And so bringing down the cost of construction
- 00:12:09.421 --> 00:12:11.657
- By everything from the zoning and permitting laws to,
- 00:12:11.657 --> 00:12:15.727
- Bringing down the cost of all of the inputs
- 00:12:15.727 --> 00:12:18.297
- That go into a house.
- 00:12:18.297 --> 00:12:19.631
- By the by doing deregulatory actions
- 00:12:19.631 --> 00:12:23.068
- All throughout our government at the federal level,
- 00:12:23.068 --> 00:12:24.937
- The state level and the local level, we can bring that down.
- 00:12:24.937 --> 00:12:27.906
- Second,
- 00:12:27.906 --> 00:12:28.874
- I've i've been of the view
- 00:12:28.874 --> 00:12:30.175
- That what needs to happen is congress
- 00:12:30.175 --> 00:12:31.877
- Needs to get our budget under control
- 00:12:31.877 --> 00:12:33.979
- Because the other part
- 00:12:33.979 --> 00:12:35.647
- Of housing unaffordability is how high interest rates are.
- 00:12:35.647 --> 00:12:39.051
- And if we can bring down interest rates,
- 00:12:39.051 --> 00:12:40.953
- That's going to help make housing more affordable.
- 00:12:40.953 --> 00:12:43.222
- And that means that we need to bring down
- 00:12:43.222 --> 00:12:45.157
- We need to greatly reduce the amount of borrowing
- 00:12:45.157 --> 00:12:47.326
- The government is doing, which crowds out
- 00:12:47.326 --> 00:12:49.628
- Mortgage lending that's going on.
- 00:12:49.628 --> 00:12:51.530
- Another thing we need to do is continue
- 00:12:51.530 --> 00:12:53.131
- To unleash american energy dominance.
- 00:12:53.131 --> 00:12:55.167
- The president really started
- 00:12:55.167 --> 00:12:56.368
- On this strategy during the first term.
- 00:12:56.368 --> 00:12:58.537
- We need to do even more of that.
- 00:12:58.537 --> 00:13:00.072
- And i am convinced
- 00:13:00.072 --> 00:13:01.440
- That increasing the available the availability
- 00:13:01.440 --> 00:13:04.376
- Of nuclear reactors.
- 00:13:04.376 --> 00:13:05.811
- I think that with advancements in technology and these new
- 00:13:05.811 --> 00:13:10.215
- Small modular reactors has enormous opportunity
- 00:13:10.215 --> 00:13:13.452
- For us to greatly decrease electricity prices.
- 00:13:13.452 --> 00:13:16.755
- And then finally, let me say that food prices,
- 00:13:16.755 --> 00:13:19.591
- They also would benefit because a lot of people don't know that
- 00:13:19.591 --> 00:13:22.127
- One of the biggest cost inputs into food is fertilizer.
- 00:13:22.127 --> 00:13:26.732
- And fertilizer, of course, comes from natural gas.
- 00:13:26.732 --> 00:13:30.302
- And so if we can unleash
- 00:13:30.302 --> 00:13:31.937
- American energy production of natural gas,
- 00:13:31.937 --> 00:13:34.172
- That's going to bring down the cost of fertilizer
- 00:13:34.172 --> 00:13:36.108
- That will ultimately bring down the cost of food.
- 00:13:36.108 --> 00:13:38.410
- So there's a lot of progress
- 00:13:38.410 --> 00:13:40.178
- That the trump administration has made,
- 00:13:40.178 --> 00:13:41.847
- Which is why you're seeing inflation numbers
- 00:13:41.847 --> 00:13:43.715
- That are significantly lower
- 00:13:43.715 --> 00:13:45.384
- Than what they were during the biden administration
- 00:13:45.384 --> 00:13:48.020
- Resolution of the war in iran, and then continuing on the
- 00:13:48.020 --> 00:13:51.757
- Administration's energy push.
- 00:13:51.757 --> 00:13:53.859
- I think those are the
- 00:13:53.859 --> 00:13:55.060
- Most important things we can do to continue to bring down
- 00:13:55.060 --> 00:13:57.796
- The costs of of life for the american people.
- 00:13:57.796 --> 00:14:01.466
- Well, president trump has slowed the growth of inflation.
- 00:14:01.466 --> 00:14:04.469
- You can't
- 00:14:04.469 --> 00:14:05.437
- Eliminate the consequences of the inflation
- 00:14:05.437 --> 00:14:06.838
- Under the previous administration.
- 00:14:06.838 --> 00:14:08.674
- And it feels like on that point,
- 00:14:08.674 --> 00:14:10.208
- The the messaging battle gets lost and trump
- 00:14:10.208 --> 00:14:13.612
- Gets hung with the consequences of previous administrations.
- 00:14:13.612 --> 00:14:16.782
- How do we help the american people understand
- 00:14:16.782 --> 00:14:18.617
- What's really happening?
- 00:14:18.617 --> 00:14:20.585
- Right.
- 00:14:20.786 --> 00:14:21.286
- I think we need to
- 00:14:21.286 --> 00:14:22.554
- Just constantly remind people that if you look at the increase
- 00:14:22.554 --> 00:14:24.456
- In prices from, say,
- 00:14:24.456 --> 00:14:25.724
- Where things were nine years ago,
- 00:14:25.724 --> 00:14:27.993
- When when president trump started his first year,
- 00:14:27.993 --> 00:14:30.629
- The vast majority of the price increases
- 00:14:30.629 --> 00:14:32.698
- That we've seen over the last nine years
- 00:14:32.698 --> 00:14:34.232
- That we're still paying for those occurred
- 00:14:34.232 --> 00:14:36.234
- During the four years of the biden administration.
- 00:14:36.234 --> 00:14:38.870
- And so, you know, if you look at we had we had less than
- 00:14:38.870 --> 00:14:41.974
- 2% annualized rates of inflation during the biden years.
- 00:14:41.974 --> 00:14:45.177
- It was about 5%, sorry,
- 00:14:45.177 --> 00:14:47.212
- We had less than 2% during
- 00:14:47.212 --> 00:14:48.513
- The first four years of the trump administration.
- 00:14:48.513 --> 00:14:50.415
- It was a 5%.
- 00:14:50.415 --> 00:14:51.817
- During the biden administration, you know, two and a half times
- 00:14:51.817 --> 00:14:54.653
- What it was during the first four years of trump.
- 00:14:54.653 --> 00:14:57.155
- And that's entirely because of the blowout
- 00:14:57.155 --> 00:14:59.358
- Spending that the that the biden administration engaged in
- 00:14:59.358 --> 00:15:03.028
- And the horrific costs
- 00:15:03.028 --> 00:15:04.596
- That they imposed on american manufacturers
- 00:15:04.596 --> 00:15:07.866
- And american businesses through the regulatory compliance
- 00:15:07.866 --> 00:15:11.470
- That they mandated.
- 00:15:11.470 --> 00:15:12.637
- So by by coming into office, providing tax certainty,
- 00:15:12.637 --> 00:15:17.242
- By deregulating, by bringing on more energy
- 00:15:17.242 --> 00:15:20.645
- And by negotiating trade deals that are going to be beneficial
- 00:15:20.645 --> 00:15:24.850
- Long term to the american people.
- 00:15:24.850 --> 00:15:26.051
- All of those things are going to help continue to bring,
- 00:15:26.051 --> 00:15:29.588
- Prices back to affordability levels.
- 00:15:30.355 --> 00:15:33.191
- And then finally, you're seeing that wages
- 00:15:33.191 --> 00:15:35.027
- Are going up under this administration.
- 00:15:35.027 --> 00:15:36.895
- Wages did not keep up with inflation
- 00:15:36.895 --> 00:15:39.331
- During the biden administration during both trump terms.
- 00:15:39.331 --> 00:15:42.701
- Wage increases have outpaced inflation.
- 00:15:42.701 --> 00:15:45.437
- And that's really what it means to make things more affordable.
- 00:15:45.437 --> 00:15:48.306
- Well, michael, we need to take a short break.
- 00:15:49.174 --> 00:15:50.675
- Can you stand by for another segment?
- 00:15:50.675 --> 00:15:53.045
- Absolutely.
- 00:15:53.045 --> 00:15:54.379
- If you happen
- 00:15:54.379 --> 00:15:55.647
- To have your phone in your hand, try logging on to aj now.com.
- 00:15:55.647 --> 00:15:58.083
- Send me an email.
- 00:15:58.083 --> 00:15:59.251
- You can see in this animation just how easy it is to do.
- 00:15:59.251 --> 00:16:02.454
- I'll be right back.
- 00:16:02.454 --> 00:16:10.001
- I'll be right back.
- 00:16:10.001 --> 00:16:12.932
- We're back now with the co-chair of american prosperity at the
- 00:16:14.133 --> 00:16:17.303
- America first policy institute, michael falk, under michael.
- 00:16:17.303 --> 00:16:21.607
- There is growing concern over
- 00:16:21.607 --> 00:16:22.975
- America's national debt crossing some historic limits.
- 00:16:22.975 --> 00:16:27.113
- What's the solution to that?
- 00:16:27.113 --> 00:16:28.748
- And is the concern about that legitimate?
- 00:16:28.748 --> 00:16:32.518
- The concern is absolutely legitimate because
- 00:16:33.419 --> 00:16:36.055
- Higher national debt create more pressure on interest rates.
- 00:16:36.055 --> 00:16:39.892
- And that doesn't just affect how much of the government's
- 00:16:39.892 --> 00:16:43.196
- Money goes towards interest payments, but it raises
- 00:16:43.196 --> 00:16:45.698
- Things like mortgage rates and car loan rates.
- 00:16:45.698 --> 00:16:48.768
- Consumer credit card rates.
- 00:16:48.768 --> 00:16:50.136
- So the interest rates that all of us are reliant upon
- 00:16:50.136 --> 00:16:54.040
- For our own personal lives,
- 00:16:54.040 --> 00:16:55.808
- Those end up being higher because of the national debt
- 00:16:55.808 --> 00:16:59.512
- And the out-of-control deficits that we're running now.
- 00:16:59.512 --> 00:17:02.281
- Let me correct what for many people is is a misperception.
- 00:17:02.281 --> 00:17:05.818
- They might think that, you know, the democrats are regularly
- 00:17:05.818 --> 00:17:08.855
- Trying to blame tax cuts.
- 00:17:08.855 --> 00:17:10.490
- If you look at the portion of our national economy
- 00:17:10.490 --> 00:17:13.526
- That goes to taxes, it's about 17% every year.
- 00:17:13.526 --> 00:17:17.296
- And that's current.
- 00:17:17.296 --> 00:17:17.964
- That's where it's at now.
- 00:17:17.964 --> 00:17:18.965
- That's where it's been
- 00:17:18.965 --> 00:17:20.099
- For most of the history from world war two until now.
- 00:17:20.099 --> 00:17:23.903
- What changed was spending.
- 00:17:23.903 --> 00:17:25.805
- So up until the pandemic, the federal government
- 00:17:25.805 --> 00:17:28.241
- Was spending about 20% of national output.
- 00:17:28.241 --> 00:17:30.843
- So we were running a 3% deficit.
- 00:17:30.843 --> 00:17:33.312
- But that's arguably sustainable.
- 00:17:33.312 --> 00:17:36.249
- That number has been closer to 23 to 24% every year
- 00:17:36.249 --> 00:17:39.719
- Since the pandemic.
- 00:17:39.719 --> 00:17:40.953
- And that's why we're running now 6 to 7%
- 00:17:40.953 --> 00:17:43.789
- Of national output deficits rather than just 3%.
- 00:17:43.789 --> 00:17:46.826
- So it's this massive increase in spending again, instead
- 00:17:46.826 --> 00:17:50.730
- Of 20% of national output, it's 23%, 24%
- 00:17:50.730 --> 00:17:54.600
- That's being spent by the federal government.
- 00:17:54.600 --> 00:17:56.169
- And that number looks like it's going to continue to rise
- 00:17:56.169 --> 00:17:59.038
- Until congress decides that it's going to start making
- 00:17:59.038 --> 00:18:01.774
- Trade offs,
- 00:18:01.774 --> 00:18:02.808
- That it's going to go in and say,
- 00:18:02.808 --> 00:18:04.377
- We can't afford to do certain things anymore.
- 00:18:04.377 --> 00:18:06.612
- There are programs that need to be curtailed.
- 00:18:06.612 --> 00:18:09.248
- There were spending obligations that were entered into that.
- 00:18:09.248 --> 00:18:12.952
- We need to take another look at
- 00:18:12.952 --> 00:18:14.687
- And see whether or not they're effective anymore.
- 00:18:14.687 --> 00:18:16.556
- We talked in the earlier break about, fraud.
- 00:18:16.556 --> 00:18:19.892
- We need to
- 00:18:19.892 --> 00:18:20.860
- We need to redouble our efforts to make sure
- 00:18:20.860 --> 00:18:22.595
- That we're getting the fraud out of there.
- 00:18:22.595 --> 00:18:24.664
- When i was the deputy secretary of the treasury,
- 00:18:24.664 --> 00:18:26.966
- You look at the number of people
- 00:18:26.966 --> 00:18:28.267
- We employed, for instance, at the irs,
- 00:18:28.267 --> 00:18:30.970
- We can greatly reduce that.
- 00:18:30.970 --> 00:18:32.572
- If we would modernize
- 00:18:32.572 --> 00:18:34.373
- The technology that the federal government uses
- 00:18:34.373 --> 00:18:37.643
- To match more what we see in the private sector.
- 00:18:37.643 --> 00:18:39.745
- So there are a number of places
- 00:18:39.745 --> 00:18:41.247
- Where congress can apply modern technology, modern
- 00:18:41.247 --> 00:18:45.017
- Private sector business practices,
- 00:18:45.017 --> 00:18:46.852
- But also modernize some of the programs
- 00:18:46.852 --> 00:18:49.722
- And the spending that's been going on for decades,
- 00:18:49.722 --> 00:18:52.692
- Because we need to get spending back
- 00:18:52.692 --> 00:18:54.393
- Down to a sustainable level.
- 00:18:54.393 --> 00:18:55.928
- Well, the general public seems to be responding.
- 00:18:56.896 --> 00:18:58.965
- There's a significant migration from high tax states
- 00:18:58.965 --> 00:19:02.101
- To the lower tax states.
- 00:19:02.101 --> 00:19:04.036
- What impact is that going to have
- 00:19:04.036 --> 00:19:05.638
- On policy and overall our overall economy?
- 00:19:05.638 --> 00:19:09.008
- You're absolutely correct.
- 00:19:09.575 --> 00:19:10.543
- I mean, you know, one of the things is
- 00:19:10.543 --> 00:19:12.111
- I and as an economist watcher, where the u-haul is going right.
- 00:19:12.111 --> 00:19:15.948
- And if you look that they're
- 00:19:15.948 --> 00:19:16.983
- Coming out of places like illinois,
- 00:19:16.983 --> 00:19:19.352
- California and new york,
- 00:19:19.352 --> 00:19:20.653
- And they're going to places like texas and florida,
- 00:19:20.653 --> 00:19:23.689
- And that's because, as you said, they've got tax environments
- 00:19:23.689 --> 00:19:26.225
- And government environments,
- 00:19:26.225 --> 00:19:27.460
- You know,
- 00:19:27.460 --> 00:19:28.661
- That that are more conducive to people keeping more money
- 00:19:28.661 --> 00:19:31.397
- In their pockets.
- 00:19:31.397 --> 00:19:32.632
- One of the staggering statistics that i was told recently is
- 00:19:32.632 --> 00:19:36.435
- The state of new york has fewer people
- 00:19:36.435 --> 00:19:40.206
- Than the state of florida,
- 00:19:40.206 --> 00:19:41.907
- And yet the state of new york spends twice
- 00:19:41.907 --> 00:19:44.677
- What the state of florida spends
- 00:19:44.677 --> 00:19:46.612
- To provide state level government services.
- 00:19:46.612 --> 00:19:49.348
- And as a result of it, tax rates in new york
- 00:19:49.348 --> 00:19:51.917
- Are significantly higher than what they are down in florida.
- 00:19:51.917 --> 00:19:54.920
- And so people are renting those one way you halls
- 00:19:54.920 --> 00:19:58.224
- In order to move to lower cost places, to places of living.
- 00:19:58.224 --> 00:20:01.861
- And what that means
- 00:20:01.861 --> 00:20:02.862
- Is that you're going to continue to see more
- 00:20:02.862 --> 00:20:05.398
- And more of the representation in congress.
- 00:20:05.398 --> 00:20:07.767
- It's going to have
- 00:20:07.767 --> 00:20:08.801
- Huge implications when we do the 2030 census,
- 00:20:08.801 --> 00:20:11.370
- Because it means blue states like new york and california
- 00:20:11.370 --> 00:20:15.408
- Are going to lose representation in the electoral college
- 00:20:15.408 --> 00:20:18.411
- And in the congress,
- 00:20:18.411 --> 00:20:19.779
- And instead that those votes are going to move
- 00:20:19.779 --> 00:20:21.781
- To places like texas and florida.
- 00:20:21.781 --> 00:20:23.983
- And hopefully what that means is that the federal government
- 00:20:23.983 --> 00:20:26.852
- Will take its lead from the red states and see
- 00:20:26.852 --> 00:20:30.156
- How do we make our our activities more efficient.
- 00:20:30.156 --> 00:20:33.259
- How do we reduce the, the, the burden
- 00:20:33.259 --> 00:20:36.095
- On taxpayers from the provision of government services?
- 00:20:36.095 --> 00:20:39.565
- Because, as i said, at the federal level
- 00:20:39.565 --> 00:20:41.967
- And at some of these blue states,
- 00:20:41.967 --> 00:20:43.536
- It is on an unsustainable path and people are voting
- 00:20:43.536 --> 00:20:46.439
- With their feet.
- 00:20:46.439 --> 00:20:47.106
- Michael, we've got just about a minute left.
- 00:20:48.007 --> 00:20:49.709
- I want to play a lightning round.
- 00:20:49.709 --> 00:20:51.377
- Short answers to some quick questions.
- 00:20:51.377 --> 00:20:53.512
- One word to describe the current economy.
- 00:20:53.512 --> 00:20:58.784
- It is getting.
- 00:20:59.118 --> 00:21:00.353
- It'll get a lot better once we get the war in iran resolved.
- 00:21:00.353 --> 00:21:03.389
- Biggest economic threat?
- 00:21:03.389 --> 00:21:04.690
- China.
- 00:21:04.690 --> 00:21:05.224
- Debt or inflation?
- 00:21:05.224 --> 00:21:08.594
- Debt rate cuts this year.
- 00:21:08.594 --> 00:21:11.530
- Yes or no?
- 00:21:11.530 --> 00:21:13.999
- Maybe.
- 00:21:13.999 --> 00:21:14.533
- One final question.
- 00:21:14.533 --> 00:21:16.936
- Will americans be better off financially by next year?
- 00:21:16.936 --> 00:21:20.039
- Yes. the war in iran will come to an end,
- 00:21:20.906 --> 00:21:23.409
- And that will greatly increase the household budget.
- 00:21:23.409 --> 00:21:26.946
- Awesome. thank you for your time today.
- 00:21:26.946 --> 00:21:28.681
- We always appreciate your thoughtful insights.
- 00:21:28.681 --> 00:21:31.584
- Great to be with you in a moment.
- 00:21:31.584 --> 00:21:33.719
- Your emails.
- 00:21:33.719 --> 00:21:40.010
- Your emails.
- 00:21:40.010 --> 00:21:45.665
- Thank you for your emails.
- 00:21:46.233 --> 00:21:47.901
- Jack from new jersey.
- 00:21:47.901 --> 00:21:49.336
- He's got an interesting idea
- 00:21:49.336 --> 00:21:51.004
- With a trillion per year of stealing
- 00:21:51.004 --> 00:21:53.707
- It, were caught and reversed.
- 00:21:53.707 --> 00:21:54.775
- It would take 40 years to pay off our national debt
- 00:21:54.775 --> 00:21:56.977
- With that alone, not including any other monies.
- 00:21:56.977 --> 00:22:00.147
- I think beyond the totals on the amounts, jack,
- 00:22:00.147 --> 00:22:02.149
- We've got to change the attitude, the character fracture
- 00:22:02.149 --> 00:22:05.886
- That allows tens of thousands of us to be okay with stealing.
- 00:22:05.886 --> 00:22:09.489
- If we come back to
- 00:22:09.923 --> 00:22:11.391
- The practicing
- 00:22:11.391 --> 00:22:12.626
- The simple truths that we know be a better place for everybody.
- 00:22:12.626 --> 00:22:15.862
- Folks, god's moving in the earth.
- 00:22:15.862 --> 00:22:17.264
- Let's decide to be a part of that.
- 00:22:17.264 --> 00:22:19.166
- Thank you for spending a few minutes of your day with us.
- 00:22:19.166 --> 00:22:21.234
- God bless you and good night.
- 00:22:21.234 --> 00:22:21.234
