Allen Jackson: Economic Pulse | Allen Jackson Now

November 12, 2025 | 21:52

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

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Allen Jackson NOW | Allen Jackson: Economic Pulse | Allen Jackson Now | November 12, 2025
  • Well, good evening and welcome to nashville.
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  • I'm alan jackson.
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  • As you surely know by now,
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  • Facts are a difficult thing to come by these days.
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  • Even more so when you're talking about the economy.
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  • The white house talks about all the growth.
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  • And on the flip side,
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  • The democrats have nothing good
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  • To say about anything the president does.
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  • Then there's wall street rising, the business community
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  • Doing well, but pulling back from hiring
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  • And fear from the federal reserve about inflation coming
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  • Back.
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  • Well, all that said, the average american,
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  • They're looking at their household budget,
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  • Their credit card statements and what's left
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  • In their checking account when the month ends.
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  • To measure how the economy's doing.
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  • So where are we now and where are we headed?
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  • Well, it's time to bring in the experts.
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  • Doug holtz-eakin was once the director
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  • Of the congressional budget office.
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  • He's now the president of american action forum.
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  • And more than that, he's
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  • One of the most fair minded, respected experts we know
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  • When it comes to the economy.
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  • Welcome back, doug.
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  • Thanks for having me.
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  • You know, it seems clear that the country is in a stronger
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  • Financial state today than it was the past four years.
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  • Gas prices are down, the stock market's up,
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  • Foreign countries have made commitments
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  • To invest their money
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  • In businesses here, which will eventually mean more jobs.
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  • But there's an anxiety in some quarters about making ends meet.
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  • What i might mean and whether we're
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  • Just running in place rather than growing.
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  • What are your thoughts?
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  • Well, certainly the average american
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  • Is getting very mixed messages.
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  • And indeed,
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  • One of the problems right now is we're getting no message
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  • Out of the government because it's been shut down.
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  • We haven't seen the monthly
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  • Reports on unemployment
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  • And spending and prices that we might normally get.
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  • So it's a little hard to tell.
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  • Here's an example.
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  • It's it's pretty clear
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  • That the labor market is dead in the water.
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  • The private employer, adp, the payroll processor, guesses
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  • That we added about 40,000 jobs in the month of october.
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  • Not a big number.
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  • Before that would look like it was 20,000.
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  • But the unemployment rate remains relatively low.
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  • Go over to the atlanta fed, and they say, you know,
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  • You can't be going into 3.84% rate.
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  • That's a huge number.
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  • So that's a huge disconnect that the people are hearing
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  • Is growth craters are terrible.
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  • Well, it's great for some people as i think the bottom line
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  • Sinks. you're in the business sector.
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  • We have big numbers on the top line.
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  • How much firms are spending on software and on equipment?
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  • Really big, numbers driving those gdp numbers.
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  • But it's all ai.
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  • And if you're not investing in ai,
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  • You're not investing in anything.
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  • You're just standing looking around.
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  • And so we've got very mixed reports
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  • On the actual main street economy
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  • Who's prospering, who's retiring
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  • And and what are we going to get for our wages this year?
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  • On the inflation side, we have nothing but bad news.
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  • Inflation went down, got it down to about 2.5%.
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  • It's now reversed course is at three and rising.
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  • And that's a big concern for everybody
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  • Who would like to see interest rates lower, not higher.
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  • Well, let's see the housing market recover.
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  • So, you know, i think it's fair statement.
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  • People are concerned because there are real reasons
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  • To be concerned.
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  • You know, clearly no one
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  • President or party can completely change
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  • The direction of the country in less than a year.
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  • But i'd like to go through the big things
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  • That have been done and get your take on them.
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  • Start with the tariffs.
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  • Here's how the treasury secretary describes the mission.
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  • The real goal of the tariffs is to rebalance trade
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  • And make it more fair.
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  • You know, over time.
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  • And the president's goal is to bring back manufacturing
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  • To the u.s..
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  • You know, for the past two to 3 or 4 decades,
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  • We've seen our manufacturing sector gutted.
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  • We'll have two questions.
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  • Do you think they will help?
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  • And will voters see some of that help
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  • Before the midterms in the next presidential election?
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  • Well, i think the second question
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  • Is easy to answer, and that's probably not,
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  • The idea that you can get a pharmaceutical company
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  • To change the location of its manufacturing,
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  • In a couple of years is really hard, to buy.
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  • That's about a ten year start to finish proposition.
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  • Some firms may relocate to the us,
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  • But it will take a long time before we see that.
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  • The tariffs,
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  • Maybe intended to rebalance trade
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  • The way the secretary describes it.
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  • But, their first and most important impact is to,
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  • Take purchasing power from american firms and consumers.
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  • It's, $180 billion tax increase that has slowed growth of this.
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  • That's money that's not available to hire people.
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  • That's why it's not available to invest.
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  • And it's, money that you have to somehow get back
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  • By raising your prices.
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  • And so
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  • The tariffs have contributed to the rebound in inflation.
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  • But there is no real dispute about that.
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  • That they will continue to do that.
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  • And so the bad news comes first.
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  • You get slower growth, you get higher prices.
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  • And you hope that you get the manufacturing down the line.
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  • The president trump has floated the idea on giving taxpayers
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  • A $2,000 dividend payment for what's been brought in
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  • From the foreign tariff payments.
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  • It seems like a good plan if we can spare it.
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  • But rather than a one time handout,
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  • Wasn't the idea of tariffs to help american business grow,
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  • Rather than to be undermined
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  • By foreign countries with cheaper labor?
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  • I think you've got that exactly right.
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  • One time policies don't help you in the end.
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  • They they're they're for emergencies like the pandemic,
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  • The great recession, the financial crisis.
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  • But they aren't how you buy a house.
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  • They're not how you send a kid to college.
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  • So what we want is a
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  • It's a better functioning economy.
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  • I think the president will be
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  • Well served to to drop this idea.
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  • The tariffs right now are raising about $2,100
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  • Per household.
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  • So if you were to send out a $2,000 checks every household,
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  • That's all the tariff money.
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  • There's none left to pay down the national debt.
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  • There's none for any other purpose.
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  • If you send it out to every adult, it's way more than that.
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  • So you're borrowing to send it.
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  • This doesn't really add up.
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  • I think it's something that may have
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  • Had some near-term political appeal,
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  • But has no real lasting economic contribution.
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  • Well, republicans didn't budge on holding off on expanding
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  • Health care benefits to support obamacare,
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  • Which would have cost another trillion
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  • And a half dollars that we don't have.
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  • Nearly everyone seems to agree that cutting spending on health
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  • Care and through the dodge
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  • Committee is the right thing to do
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  • For the long term health of the economy.
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  • But does it benefit the party in power politically as well?
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  • It's very hard to enact, the spending cuts.
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  • We need to really get the debt under control.
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  • Over half of the spending in the next
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  • Ten years is going to be two programs,
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  • Social security and medicare.
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  • Touching. so screwed.
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  • Medicare has historically
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  • Been the third rail politics, so no party that is in power
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  • Wants to start there by any means.
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  • That's something you need to do
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  • Across party lines thoughtfully.
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  • Gradually over time, those those reforms have to happen.
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  • There's no way to control the debt without doing them,
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  • But they can't be done in the near term,
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  • And they can't be done by one party.
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  • Well, the president has pushed hard on the fed chairman
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  • For not lowering interest rates sooner and making deeper cuts
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  • Home sales especially first time homebuyers,
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  • Have slowed dramatically.
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  • In fact mortgage rates have gone up since mr.
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  • Powell said the fed may not cut any further this year.
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  • Now, the president's
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  • Suggesting that a 50 year mortgage might be a solution.
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  • Would that help get things started again?
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  • I don't think that 50 years is the solution here.
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  • You know, what you really need is to have a robustly
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  • Growing economy that puts, reliable income in someone's
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  • Pocket, makes them confident in making a big asset purchase.
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  • The financing,
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  • Whether it's done at the current mortgage
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  • Rates or one percentage point lower, that's really,
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  • The, area we're going to be in
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  • Doesn't make an enormous difference.
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  • The problem with the 50 year mortgage
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  • Is it sure, it sounds appealing, but on a $400,000 mortgage,
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  • You pay
  • 00:07:51.529 --> 00:07:52.797
  • About $400,000 in interest over the life of a 30 year mortgage.
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  • You pay 860,000 over a 50 year mortgage.
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  • So you you don't get any more equity.
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  • You just give a lot more money in the bank.
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  • And i don't think that should be the goal in harmony.
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  • Amen.
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  • Well, doug, we need to take a short break.
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  • Can you stay for another segment?
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  • That'd be great.
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  • Yes. well,
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  • If you want to share your thoughts on
  • 00:08:09.814 --> 00:08:11.149
  • What to do about the economy,
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  • You can log on to aj now.com and send me an email.
  • 00:08:12.350 --> 00:08:15.620
  • We're producing an email only program later this month
  • 00:08:15.620 --> 00:08:18.389
  • And would love to include your thoughts
  • 00:08:18.389 --> 00:08:20.191
  • On all the economic issues ahead. i'll be right back.
  • 00:08:20.191 --> 00:08:30.005
  • On all the economic issues ahead. i'll be right back.
  • 00:08:30.005 --> 00:08:33.744
  • We're back now with the
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  • President of the american action forum, doug holtz-eakin.
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  • The upcoming midterm elections may well turn on affordability.
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  • And republicans are concerned
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  • That while president trump has taken some big steps
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  • To turn the economy in the right direction,
  • 00:08:46.657 --> 00:08:48.892
  • Some of what he's accomplished may not show improvement
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  • In time for voters who want to keep republicans
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  • In office next november.
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  • The director of the white house economic council
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  • Has been trying to explain that
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  • Things are far better than the biden years.
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  • When you measure real spending power, listen to his comment.
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  • If you look at the real reduction in spending power
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  • For americans under joe biden,
  • 00:09:07.778 --> 00:09:09.713
  • Then it went down about $3,000 because we had
  • 00:09:09.713 --> 00:09:12.516
  • Up to 9% inflation.
  • 00:09:12.516 --> 00:09:13.751
  • And then they went to the grocery store.
  • 00:09:13.751 --> 00:09:14.852
  • They couldn't buy the things they're used to buying.
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  • The real spending power, adjusted for inflation.
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  • Under president trump
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  • Has gone up about $1,200 so far this year.
  • 00:09:21.759 --> 00:09:24.528
  • $1,200 is not $3,000.
  • 00:09:24.528 --> 00:09:26.864
  • And so people are right to feel stretched.
  • 00:09:26.864 --> 00:09:28.966
  • But we're making progress.
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  • Doug, what's your sense on whether the improvements
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  • Might be felt in time for the president
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  • To keep the house and senate in republican hands?
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  • Well, i'm not sure that, all of the wage growth
  • 00:09:38.575 --> 00:09:41.245
  • Will be there, in time for that, but there's going to be a big,
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  • Amount of cash that comes out of the tax system next spring.
  • 00:09:45.616 --> 00:09:48.085
  • So when they did the one big beautiful bill,
  • 00:09:48.085 --> 00:09:50.788
  • They backdated the tax,
  • 00:09:50.788 --> 00:09:53.023
  • Bill to january 1st of 2025,
  • 00:09:53.023 --> 00:09:56.293
  • But they didn't change withholding tables.
  • 00:09:56.293 --> 00:09:58.028
  • So the people are going to get two years of refunds
  • 00:09:58.028 --> 00:10:00.330
  • Come back next spring.
  • 00:10:00.330 --> 00:10:01.632
  • But $130 billion in the household sector,
  • 00:10:01.632 --> 00:10:04.101
  • That'll help a lot of people might
  • 00:10:04.101 --> 00:10:05.436
  • Be a little happier when they head to the polls.
  • 00:10:05.436 --> 00:10:08.072
  • Well, i want to pick up again on interest rates.
  • 00:10:08.072 --> 00:10:10.641
  • Steve moore is a regular guest
  • 00:10:10.641 --> 00:10:12.142
  • On this show, and he's made the point
  • 00:10:12.142 --> 00:10:13.877
  • That by delaying any further rate cuts, the fed chairman
  • 00:10:13.877 --> 00:10:17.014
  • Is creating a higher direct cost to taxpayers.
  • 00:10:17.014 --> 00:10:20.350
  • Since june, the higher rates have added
  • 00:10:20.350 --> 00:10:22.052
  • Tens of billions of dollars to what is now a $38 trillion debt.
  • 00:10:22.052 --> 00:10:26.724
  • To put it another way, that's $287,000 of debt per household.
  • 00:10:26.724 --> 00:10:31.161
  • What would your advice be?
  • 00:10:31.161 --> 00:10:33.163
  • Well, the first thing i noticed that,
  • 00:10:33.964 --> 00:10:35.866
  • When the fed cut by 100 basis points over a year
  • 00:10:35.866 --> 00:10:38.602
  • Ago, long rates went up 100 basis points.
  • 00:10:38.602 --> 00:10:41.839
  • And so there is no guarantee
  • 00:10:41.839 --> 00:10:43.907
  • That interest rate cuts translate
  • 00:10:43.907 --> 00:10:45.509
  • Into lower direct costs or translate for a taxpayer.
  • 00:10:45.509 --> 00:10:48.178
  • So, you know,
  • 00:10:48.178 --> 00:10:49.213
  • I i'm a big fan of steve's,
  • 00:10:49.213 --> 00:10:50.714
  • But i'm not guaranteed on that point.
  • 00:10:50.714 --> 00:10:53.083
  • I think the biggest issue for the fed really
  • 00:10:53.083 --> 00:10:54.952
  • Is this uncomfortable rise in inflation.
  • 00:10:54.952 --> 00:10:58.088
  • They were trying to get it back to the 2% target.
  • 00:10:58.088 --> 00:11:00.457
  • They got to two and a half or went back to three.
  • 00:11:00.457 --> 00:11:02.593
  • Now they're faced
  • 00:11:02.593 --> 00:11:03.193
  • With further upward
  • 00:11:03.193 --> 00:11:04.361
  • Pressure from the remaining imposition of the tariffs.
  • 00:11:04.361 --> 00:11:07.331
  • And you know, that's that's something
  • 00:11:07.331 --> 00:11:09.700
  • They have to take seriously by law.
  • 00:11:09.700 --> 00:11:11.668
  • They have a mandate to have price stability.
  • 00:11:11.668 --> 00:11:13.804
  • And they call that price stability hitting the 2% target.
  • 00:11:13.804 --> 00:11:16.907
  • They also have a mandate for full employment.
  • 00:11:16.907 --> 00:11:19.343
  • And if you look at the employment
  • 00:11:19.343 --> 00:11:20.611
  • Side, inflation has gone up but unemployment has not gone up.
  • 00:11:20.611 --> 00:11:24.381
  • It's at about 4.3%.
  • 00:11:24.381 --> 00:11:26.450
  • So the logic for some on the board is, look,
  • 00:11:26.450 --> 00:11:29.520
  • We're not having a labor problem and inflation is a problem.
  • 00:11:29.520 --> 00:11:32.523
  • So let's not cut anymore.
  • 00:11:32.523 --> 00:11:33.824
  • On the other hand, you hear, vigorous arguments for,
  • 00:11:34.858 --> 00:11:37.494
  • Preemptive cuts to make sure that the labor market
  • 00:11:37.494 --> 00:11:39.863
  • Doesn't go further south.
  • 00:11:39.863 --> 00:11:41.632
  • And the result is a deeply divided board that,
  • 00:11:41.632 --> 00:11:45.202
  • Chairman powell has to somehow get on one page.
  • 00:11:45.202 --> 00:11:47.237
  • It's a tough job right now.
  • 00:11:47.237 --> 00:11:48.238
  • It's a really difficult, decision for the fed.
  • 00:11:48.238 --> 00:11:52.309
  • Well, i'm here in nashville, and you're in washington,
  • 00:11:52.309 --> 00:11:55.212
  • But not too far north of you.
  • 00:11:55.212 --> 00:11:56.914
  • There's a socialist democrat who will soon be running
  • 00:11:56.914 --> 00:11:59.483
  • The financial capital of the country.
  • 00:11:59.483 --> 00:12:01.785
  • New york's
  • 00:12:01.785 --> 00:12:02.386
  • Governor is already told
  • 00:12:02.386 --> 00:12:03.554
  • Over on monday that he's not going to
  • 00:12:03.554 --> 00:12:05.088
  • Be allowed to give out free bus rides,
  • 00:12:05.088 --> 00:12:07.291
  • Because the state doesn't have the hundreds
  • 00:12:07.291 --> 00:12:08.692
  • Of millions of dollars that would cost.
  • 00:12:08.692 --> 00:12:10.894
  • But mom, donnie's young followers may not know
  • 00:12:10.894 --> 00:12:13.330
  • Or might not even care,
  • 00:12:13.330 --> 00:12:14.932
  • That the problem with socialism is that eventually
  • 00:12:14.932 --> 00:12:16.867
  • You run out of other people's money.
  • 00:12:16.867 --> 00:12:18.569
  • As margaret thatcher once said so famously,
  • 00:12:18.569 --> 00:12:21.939
  • How do you see this playing out?
  • 00:12:21.939 --> 00:12:24.675
  • Well,
  • 00:12:24.908 --> 00:12:26.076
  • The ideas have been tried around the globe, most notably
  • 00:12:26.076 --> 00:12:28.812
  • In the soviet union, with no success whatsoever.
  • 00:12:28.812 --> 00:12:32.216
  • And, they're even less likely to be successful
  • 00:12:32.216 --> 00:12:35.519
  • In a single city because it's just so easy
  • 00:12:35.519 --> 00:12:38.088
  • To make your home in new jersey, if not florida.
  • 00:12:38.088 --> 00:12:40.224
  • And so,
  • 00:12:40.224 --> 00:12:41.892
  • The mayor is going to run
  • 00:12:41.892 --> 00:12:42.826
  • Into a real problem if he wants to just
  • 00:12:42.826 --> 00:12:44.728
  • Take the money from the rich and head off to implement
  • 00:12:44.728 --> 00:12:48.832
  • Free food and free, groceries and free bus rides and the like.
  • 00:12:48.832 --> 00:12:53.003
  • That's just not going to work.
  • 00:12:53.003 --> 00:12:54.571
  • The reality in new york city as well is that
  • 00:12:54.571 --> 00:12:56.807
  • The mayor has relatively little power,
  • 00:12:56.807 --> 00:12:58.809
  • Because of all of its problems over the years.
  • 00:12:58.809 --> 00:13:00.544
  • The state has a lot of control.
  • 00:13:00.544 --> 00:13:01.879
  • There's an advisory board with a lot of control.
  • 00:13:01.879 --> 00:13:04.414
  • The metro transit authority that controls a lot of the money.
  • 00:13:04.414 --> 00:13:07.184
  • So, you know, we'll see
  • 00:13:07.184 --> 00:13:09.953
  • When the rubber hits the road, what he actually tries to do,
  • 00:13:09.953 --> 00:13:12.022
  • Given the authority that he actually has.
  • 00:13:12.022 --> 00:13:15.192
  • Well, you're an economic expert.
  • 00:13:15.826 --> 00:13:17.160
  • What would you recommend to the washington leadership
  • 00:13:17.160 --> 00:13:19.463
  • That we haven't talked about yet?
  • 00:13:19.463 --> 00:13:22.132
  • Well, i really would get serious about, the federal debt.
  • 00:13:22.132 --> 00:13:25.369
  • You know,
  • 00:13:25.669 --> 00:13:26.203
  • People talk about it
  • 00:13:26.203 --> 00:13:27.170
  • Now, that's a step in the right direction,
  • 00:13:27.170 --> 00:13:28.839
  • But they haven't really done anything about it.
  • 00:13:28.839 --> 00:13:31.541
  • Under mr.
  • 00:13:31.541 --> 00:13:32.242
  • Trump and, you know,
  • 00:13:32.242 --> 00:13:33.677
  • The reality is we've been downgraded three times.
  • 00:13:33.677 --> 00:13:35.579
  • And the most recent downgrade from moody's was real simple.
  • 00:13:35.579 --> 00:13:38.015
  • They said you have too much debt,
  • 00:13:38.015 --> 00:13:39.816
  • And interest rates are too much of your revenue.
  • 00:13:39.816 --> 00:13:41.852
  • So it's time to to course correct and change that,
  • 00:13:41.852 --> 00:13:44.655
  • As quickly as we can.
  • 00:13:44.655 --> 00:13:46.490
  • How do we cultivate a will to do that
  • 00:13:46.490 --> 00:13:48.058
  • Amongst the american people?
  • 00:13:48.058 --> 00:13:49.293
  • Because if we're just focused as focused on getting elected,
  • 00:13:49.293 --> 00:13:51.929
  • We'll never
  • 00:13:51.929 --> 00:13:53.130
  • Cultivate the courage to make those sacrifices, will we?
  • 00:13:53.130 --> 00:13:55.699
  • I think the key is social security,
  • 00:13:55.699 --> 00:13:57.868
  • The trust on bankruptcy in seven years
  • 00:13:57.868 --> 00:14:00.237
  • And in the absence of a reform,
  • 00:14:00.237 --> 00:14:03.106
  • That means seniors get the checks cut by 25%
  • 00:14:03.106 --> 00:14:06.109
  • Across the board while in retirement.
  • 00:14:06.109 --> 00:14:07.678
  • That's unthinkably bad. we can't do that.
  • 00:14:07.678 --> 00:14:09.846
  • Which means we are going to do social security reform.
  • 00:14:09.846 --> 00:14:12.215
  • There's no way around it.
  • 00:14:12.215 --> 00:14:13.583
  • And the parties need to accept that fact.
  • 00:14:13.583 --> 00:14:15.786
  • Work together
  • 00:14:15.786 --> 00:14:16.620
  • To, to put it on a financial footing
  • 00:14:16.620 --> 00:14:18.055
  • That will last for the foreseeable future
  • 00:14:18.055 --> 00:14:20.824
  • And in the process, make it fit into an entitlement state
  • 00:14:20.824 --> 00:14:24.394
  • With medicare and medicaid and the for the rest of these,
  • 00:14:24.394 --> 00:14:27.164
  • That actually adds up.
  • 00:14:27.164 --> 00:14:28.231
  • And it doesn't right now. this is our opportunity
  • 00:14:28.231 --> 00:14:30.434
  • Next seven years we can get this done.
  • 00:14:30.434 --> 00:14:32.302
  • Well, i pray that you're a prophet.
  • 00:14:33.103 --> 00:14:35.906
  • Doug holtz-eakin, thank you for joining us today.
  • 00:14:35.906 --> 00:14:38.875
  • I hope to see you again in the new year.
  • 00:14:38.875 --> 00:14:41.378
  • Look forward to it.
  • 00:14:41.378 --> 00:14:42.579
  • I'll be back in a moment with a note of hope.
  • 00:14:42.579 --> 00:14:52.009
  • I'll be back in a moment with a note of hope.
  • 00:14:52.009 --> 00:14:55.966
  • You know, i would submit to you
  • 00:14:56.600 --> 00:14:57.935
  • That for decades our nation was being looted.
  • 00:14:57.935 --> 00:15:00.971
  • Our wealth, our strength, our opportunities,
  • 00:15:00.971 --> 00:15:03.474
  • Our futures were being diminished on a daily basis.
  • 00:15:03.474 --> 00:15:06.744
  • One example of the looting was the movement
  • 00:15:06.744 --> 00:15:08.712
  • Of manufacturing away from our nation.
  • 00:15:08.712 --> 00:15:11.348
  • It was a plundering of our nation.
  • 00:15:11.348 --> 00:15:13.050
  • It started in an intentional way in the 1970s,
  • 00:15:13.050 --> 00:15:16.186
  • Moving manufacturing overseas.
  • 00:15:16.186 --> 00:15:18.288
  • We called it offshoring.
  • 00:15:18.288 --> 00:15:19.990
  • We don't make things anymore.
  • 00:15:19.990 --> 00:15:21.325
  • We become too dependent on foreign governments.
  • 00:15:21.325 --> 00:15:24.028
  • Some of them are hostile, like china.
  • 00:15:24.028 --> 00:15:26.697
  • That's why i'm grateful for the fresh, bold ideas
  • 00:15:26.697 --> 00:15:29.066
  • That have been put forward by the trump administration.
  • 00:15:29.066 --> 00:15:31.735
  • It's an attempt to level the economic playing field
  • 00:15:31.735 --> 00:15:34.304
  • And to bring revenue and jobs back to the us.
  • 00:15:34.304 --> 00:15:38.075
  • I believe what was initiated by this administration
  • 00:15:38.075 --> 00:15:40.577
  • Through tariffs and new trade deals
  • 00:15:40.577 --> 00:15:42.746
  • Was an expression of support for the american people.
  • 00:15:42.746 --> 00:15:46.617
  • Well, the administration is standing up for u.s.
  • 00:15:46.617 --> 00:15:48.385
  • Citizens saying to foreign governments,
  • 00:15:48.385 --> 00:15:50.354
  • You'll not take unfair advantage of us
  • 00:15:50.354 --> 00:15:52.723
  • While hoping to motivate
  • 00:15:52.723 --> 00:15:53.924
  • American corporations to bring manufacturing back into the us.
  • 00:15:53.924 --> 00:15:58.796
  • Recently, the yale budget lab estimated that tariffs
  • 00:15:58.796 --> 00:16:01.498
  • Could raise around $2.5 trillion over the next ten years,
  • 00:16:01.498 --> 00:16:05.335
  • While the congressional budget
  • 00:16:05.335 --> 00:16:06.503
  • Office predicts that tariffs could raise 3.3 trillion
  • 00:16:06.503 --> 00:16:09.840
  • In revenue over the same time period.
  • 00:16:09.840 --> 00:16:12.776
  • Meanwhile, the legacy media will.
  • 00:16:12.776 --> 00:16:14.344
  • They're quick to push fear inducing headlines.
  • 00:16:14.344 --> 00:16:16.747
  • It wasn't long ago when they said
  • 00:16:16.747 --> 00:16:18.248
  • Tariffs will wipe out billions in retirement savings overnight,
  • 00:16:18.248 --> 00:16:22.286
  • And that your retirement nest eggs are under great threat.
  • 00:16:22.286 --> 00:16:25.889
  • Well, now as corporations are just too the changes,
  • 00:16:25.889 --> 00:16:28.659
  • The repercussions may feel uncomfortable in the moment.
  • 00:16:28.659 --> 00:16:32.129
  • We may get frightened and we may see fearful headlines,
  • 00:16:32.129 --> 00:16:35.299
  • But we don't have to lead lives that are dominated by fear.
  • 00:16:35.299 --> 00:16:38.202
  • We can't let the media frame our perspectives or our responses.
  • 00:16:38.202 --> 00:16:41.738
  • I would point out that jesus didn't
  • 00:16:42.473 --> 00:16:44.174
  • Lead a life free of conflict or challenge.
  • 00:16:44.174 --> 00:16:46.510
  • We find jesus in boats during storms.
  • 00:16:46.510 --> 00:16:48.645
  • He goes to his hometown and they tried to kill him.
  • 00:16:48.645 --> 00:16:51.181
  • He faced all sorts of challenges.
  • 00:16:51.181 --> 00:16:53.383
  • Yet we see in jesus that he's never panicked
  • 00:16:53.383 --> 00:16:55.853
  • If he has to feed a multitude with a happy meal.
  • 00:16:55.853 --> 00:16:58.722
  • He's completely confident there's enough for everybody.
  • 00:16:58.722 --> 00:17:01.458
  • John 1427 is a favorite verse.
  • 00:17:01.458 --> 00:17:04.061
  • Jesus said, peace i leave with you.
  • 00:17:04.061 --> 00:17:05.863
  • My peace i give you.
  • 00:17:05.863 --> 00:17:06.964
  • I don't give to you as the world gives.
  • 00:17:06.964 --> 00:17:08.899
  • Don't let your hearts be troubled.
  • 00:17:08.899 --> 00:17:10.767
  • Don't be afraid.
  • 00:17:10.767 --> 00:17:12.269
  • In this time of uncertainty
  • 00:17:12.269 --> 00:17:13.437
  • And change,
  • 00:17:13.437 --> 00:17:14.705
  • Let's remember that jesus has promised to give us his peace
  • 00:17:14.705 --> 00:17:17.441
  • And that we don't have to be driven by fear.
  • 00:17:17.441 --> 00:17:20.010
  • We'll be back with your emails.
  • 00:17:20.644 --> 00:17:30.008
  • We'll be back with your emails.
  • 00:17:30.008 --> 00:17:34.585
  • Thank you for spending a few minutes with us today.
  • 00:17:35.586 --> 00:17:37.488
  • Just a reminder, if you ever miss
  • 00:17:37.488 --> 00:17:38.789
  • An episode live, you can always go to aj.
  • 00:17:38.789 --> 00:17:41.058
  • Now.com.
  • 00:17:41.058 --> 00:17:41.959
  • There's a full archive of the programs there.
  • 00:17:41.959 --> 00:17:43.928
  • You can review them at your leisure.
  • 00:17:43.928 --> 00:17:45.696
  • You can even share them with a friend.
  • 00:17:45.696 --> 00:17:47.598
  • Thanks for your emails, katie commented on facebook.
  • 00:17:47.598 --> 00:17:50.768
  • You know, pastor,
  • 00:17:50.768 --> 00:17:51.836
  • I have to admit that i didn't really think about it
  • 00:17:51.836 --> 00:17:53.471
  • Much until you started pointing it out.
  • 00:17:53.471 --> 00:17:55.573
  • We all just go along with the culture
  • 00:17:55.573 --> 00:17:57.375
  • Even when we don't believe in something.
  • 00:17:57.375 --> 00:17:59.443
  • We just let the world make changes
  • 00:17:59.443 --> 00:18:01.078
  • And do things none of us agree with.
  • 00:18:01.078 --> 00:18:02.613
  • And we never speak up.
  • 00:18:02.613 --> 00:18:04.549
  • Like you
  • 00:18:04.549 --> 00:18:05.816
  • Say, it's up to us, the church, to stand up for what's right.
  • 00:18:05.816 --> 00:18:08.052
  • I know your sermons have changed my life.
  • 00:18:08.052 --> 00:18:10.321
  • I'm no longer going to sit on the sidelines.
  • 00:18:10.321 --> 00:18:12.356
  • Thank you.
  • 00:18:12.356 --> 00:18:13.791
  • Well, katie, you got it.
  • 00:18:13.791 --> 00:18:15.493
  • We've got to be determined to shape the culture
  • 00:18:15.493 --> 00:18:18.296
  • And not just be shaped by the culture.
  • 00:18:18.296 --> 00:18:20.831
  • It starts one home at a time,
  • 00:18:20.831 --> 00:18:22.400
  • One family of your time, one kitchen table at a time.
  • 00:18:22.400 --> 00:18:25.736
  • If we'll do that, i believe we'll see washington change.
  • 00:18:25.736 --> 00:18:29.173
  • Diane from massachusetts.
  • 00:18:29.740 --> 00:18:31.842
  • I'd like to share a victory with you
  • 00:18:31.842 --> 00:18:33.511
  • As you're partly responsible for this.
  • 00:18:33.511 --> 00:18:35.846
  • You've inspired me greatly, and i'm now thrilled to say
  • 00:18:35.846 --> 00:18:38.382
  • There's a scripture group at my high school,
  • 00:18:38.382 --> 00:18:40.785
  • And it's attended already by 15 students.
  • 00:18:40.785 --> 00:18:43.588
  • The scriptures are read and interpreted
  • 00:18:43.588 --> 00:18:45.089
  • By student leadership.
  • 00:18:45.089 --> 00:18:46.157
  • And i must say that from
  • 00:18:46.157 --> 00:18:47.291
  • The mouth of babes come messages as powerful as yours.
  • 00:18:47.291 --> 00:18:50.328
  • Well, i also found a church.
  • 00:18:50.928 --> 00:18:52.063
  • It's a little weak culturally,
  • 00:18:52.063 --> 00:18:53.664
  • But the word of god is preached and the people are welcoming.
  • 00:18:53.664 --> 00:18:56.434
  • Thank you for your encouragement and inspiration
  • 00:18:56.434 --> 00:18:58.736
  • Through your ministry, this show and podcast.
  • 00:18:58.736 --> 00:19:01.772
  • Well, thank you diane.
  • 00:19:02.240 --> 00:19:03.441
  • It's good to hear that in schools and churches,
  • 00:19:03.441 --> 00:19:05.810
  • The word of god is being welcomed.
  • 00:19:05.810 --> 00:19:08.279
  • If we can multiply that, i assure you
  • 00:19:08.279 --> 00:19:10.748
  • There's more reasons for hope than despair.
  • 00:19:10.748 --> 00:19:14.018
  • Finally,
  • 00:19:14.285 --> 00:19:15.286
  • If you were on instagram commented deception.
  • 00:19:15.286 --> 00:19:17.722
  • What a perfect word for the times we live in.
  • 00:19:17.722 --> 00:19:20.391
  • Knowing the word of god is knowing the character of god.
  • 00:19:20.391 --> 00:19:23.261
  • He tells us what he hates.
  • 00:19:23.261 --> 00:19:24.495
  • He tells us what he loves.
  • 00:19:24.495 --> 00:19:26.297
  • He tells us what an abomination is,
  • 00:19:26.297 --> 00:19:28.432
  • And he tells us what evil is.
  • 00:19:28.432 --> 00:19:29.834
  • He tells us what love is.
  • 00:19:29.834 --> 00:19:31.569
  • He tells us what forgiveness is.
  • 00:19:31.569 --> 00:19:33.437
  • A deep reverence and respect
  • 00:19:33.437 --> 00:19:34.872
  • For god is the foundation for all true wisdom.
  • 00:19:34.872 --> 00:19:38.943
  • Well, i don't have the name of that viewer on instagram,
  • 00:19:38.943 --> 00:19:41.212
  • But i can tell you this they have out preached
  • 00:19:41.212 --> 00:19:42.947
  • The preacher and i appreciate the reminder.
  • 00:19:42.947 --> 00:19:46.751
  • I invite all of you to submit an email.
  • 00:19:46.751 --> 00:19:48.853
  • You just go to aj now.com.
  • 00:19:48.853 --> 00:19:50.488
  • There's a button there. it's easy to do.
  • 00:19:50.488 --> 00:19:52.623
  • We're preparing an upcoming program
  • 00:19:52.623 --> 00:19:54.592
  • That is entirely dedicated to your emails.
  • 00:19:54.592 --> 00:19:57.361
  • We're going to answer your questions
  • 00:19:57.361 --> 00:19:59.363
  • And process your comments on what's happening
  • 00:19:59.363 --> 00:20:02.099
  • In our nation, in our churches, and in our schools.
  • 00:20:02.099 --> 00:20:05.336
  • Your voice matters.
  • 00:20:05.336 --> 00:20:06.637
  • Take a moment. send us your email.
  • 00:20:06.637 --> 00:20:08.105
  • I look forward to reading them again.
  • 00:20:08.105 --> 00:20:10.308
  • Thank you for spending a few moments with us
  • 00:20:10.308 --> 00:20:12.410
  • And i pray you have a good evening.
  • 00:20:12.410 --> 00:20:12.410