Allen Jackson: Jobs Report | Allen Jackson Now

April 7, 2026 | 22:26

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

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Allen Jackson NOW | Allen Jackson: Jobs Report | Allen Jackson Now | April 7, 2026
  • Well, good evening and welcome to nashville.
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  • I'm alan jackson.
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  • Whether you're spending or saving this spring
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  • Or some of both.
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  • It obviously helps to have at least as much coming in
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  • As you have going out.
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  • That's just common sense.
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  • But with the invention of credit cards and low interest car
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  • Loans, balloon mortgages,
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  • And a whole collection of student loans,
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  • We tend to reach higher than we can sometimes afford.
  • 00:00:37.996 --> 00:00:41.366
  • Who among us hasn't admired the 65 inch tv and surround sound?
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  • Or maybe that new patio furniture for the spring?
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  • Well, that seems like the right thing at the time.
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  • But a year later, when you're still paying off
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  • The loan and the interest, well,
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  • The joy of that impulse has long since faded.
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  • America has always been about aspiration and success,
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  • But wages don't always keep up with inflation.
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  • Without question, the state of the nation's economy.
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  • What is top of mind?
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  • And while the majority of us support
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  • The president neutralizing iran, it doesn't change
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  • The concerns that most folks have about making ends meet.
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  • President trump is well aware it is working
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  • Hard to let everyone know that there will be a strong rebound
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  • Once the action in iran has settled down.
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  • Listen to how the treasury secretary describes it.
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  • This is temporary.
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  • We will move beyond this,
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  • And we will come out on the other side,
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  • And the growth will be better and our security will be real,
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  • Not illusory,
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  • Which all makes sense, because every time the president
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  • Has even hinted at a successful end of the war,
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  • The financial and oil markets,
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  • They show an immediate improvement.
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  • You know,
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  • I appreciate the leadership we've seen
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  • From this administration on behalf of the american people,
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  • Even though there's this unrelenting resistance
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  • And hatred coming from all sides.
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  • They pressed forward with the goal of serving their country.
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  • The leadership of president trump,
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  • Marco rubio and pete hegseth, and what they've demonstrated.
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  • This should be comforting to all of us.
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  • They got american and israeli hostages
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  • Released, an accomplishment that the previous administration
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  • They just couldn't get done.
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  • I recently had the honor of going to the white house
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  • To attend an easter lunch gathering with president trump,
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  • Along with other pastors and christian leaders.
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  • Many of trump's cabinet members were there as well. vice
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  • President jd vance, secretary rollins, secretary mullins.
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  • They were all there.
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  • But my takeaway from the meeting
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  • Was that they're normal people.
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  • They felt just like us.
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  • They had jobs, careers, payrolls and real consequences
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  • Before politics.
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  • A lot of them know what it means
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  • To sign
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  • The front of the paycheck,
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  • And not just cash one from taxpayers.
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  • They didn't spend 30 years learning
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  • How to become a career politician.
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  • They spent years learning how to solve problems.
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  • This isn't a cabinet built in the back halls of washington.
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  • It's built from the real world.
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  • You know,
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  • I recently went to the sec college basketball tournament
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  • When i watched those games and saw the elite athletes
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  • Performing at a high level.
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  • I came away thinking, they're not normal, they're unicorns.
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  • They're well over six feet tall. they're nimble.
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  • It seemed to me like they could jump over the moon.
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  • Well, they have a set of gifts, talents and abilities
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  • That are really not normal.
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  • They're not typical amongst the broader population.
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  • It's rare.
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  • On the other hand, those people that i was
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  • With in the white house, they felt like normal people
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  • That had been given a good measure of authority,
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  • And they've used the authority given to them
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  • To do extraordinary things on behalf of the american people.
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  • You may be wondering what president trump is like.
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  • Well, it seemed to me
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  • He's the same at the state of the union
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  • Or at a global summit as he is behind closed doors.
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  • He doesn't have a different speech
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  • For congressional members or the media
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  • When he's with them, but then have a different message
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  • When he's with everyday americans.
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  • It's remarkable to watch for someone
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  • Whose character is
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  • Broadly impugned,
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  • With criticism coming from both sides of the aisle, the media,
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  • Even those inside and outside the church.
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  • I admire the willingness of president trump
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  • And his administration to do difficult things.
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  • You know, politics is typically framed as doing what's popular
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  • Because they want the vote.
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  • They will pander
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  • In order to remain popular and stay in their position.
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  • Well, from my point of view,
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  • The members of this administration,
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  • They're not traditional politicians.
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  • They're not using their authority
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  • For personal gain or personal comfort and convenience.
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  • They're using the authority that's been given to them to
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  • Serve the people.
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  • I also had a sobering takeaway from the white house meeting.
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  • I was concerned, in fact, to be honest,
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  • I was embarrassed for the church.
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  • We have a greater authority than any politician does.
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  • Yet we spend our authority
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  • On personal comfort and convenience,
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  • Praying that our kids will make it
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  • Into their little league team,
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  • Or that our headache would go away,
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  • Or that we could drive a better car.
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  • We've got to be aware of the greater authority
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  • We have as children of god,
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  • As ambassadors for the eternal kingdom of god.
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  • Just imagine what would happen
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  • If we used that authority and began to pray
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  • About the destiny of our communities where we live
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  • And the schools
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  • Where our children go and the nations of the world.
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  • Why shouldn't we be praying that this time next easter,
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  • That they'd be able to worship jesus publicly in iran
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  • And cuba, in gaza and in venezuela?
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  • You know, as christians,
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  • We've been guilty
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  • Of using the invitation into the eternal kingdom of god
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  • For our personal comfort and convenience.
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  • Folks, we have to change.
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  • We have to imagine that we're here to impact our world.
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  • It's going to be difficult.
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  • There's going to be pushback.
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  • We should expect the resistance to come with that.
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  • But we must persevere because as christ followers,
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  • We still have an assignment to be salt and light.
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  • There are good things ahead and there are opportunities.
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  • So let's be fully engaged in doing his work.
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  • Everywhere we go, no matter what.
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  • With all that on the table, in a moment, we'll hear
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  • From the former director of the congressional budget
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  • Office, doug holtz-eakin.
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  • Now he's the president of the 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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  • I know it's hard to predict the future
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  • Direction of the economy with so many moving parts,
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  • But there are people who know
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  • How to interpret the current data
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  • Well enough to guide the rest of us.
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  • One of the best is doug holtz-eakin.
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  • He's the president of the american action forum
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  • And the former director of the congressional budget office.
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  • Welcome back, doug.
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  • You know, it's so hard to figure out
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  • If things are getting better or getting worse,
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  • Given how political everything has become.
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  • But the most recent jobs report
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  • Surprised everyone with very good news.
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  • 178,000 jobs added last month, which was double or triple
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  • What was expected.
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  • Please begin
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  • By telling us where you think things are right now.
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  • Let me say a little bit about that jobs report,
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  • Because it's my sworn duty as an economist
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  • To bring the dark cloud for every silver lining.
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  • 178 is a great number, but,
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  • That that report looks a lot like recent reports that relied
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  • Heavily on the health sector,
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  • Which produces about 90,000 of those jobs,
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  • Half of them got a little help
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  • From construction and transportation.
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  • But it's not broad based, jobs growth.
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  • That's sort of, the lesson there.
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  • The other lesson is
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  • That jobs is probably not the bellwether
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  • Of the economy anymore.
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  • We used to always wait for the jobs
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  • Report to see how we're doing.
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  • So it's more important to take a look
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  • At the unemployment rate, which is still at 4.3%, and
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  • Look at wage growth, which is about 2.5%.
  • 00:07:31.110 --> 00:07:34.613
  • An annual rate, has been as high as three and a half recently.
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  • So, when you hear these labor numbers coming out,
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  • Don't focus so much on that jobs number anymore.
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  • It's it's not really telling us very much.
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  • Well, before the war with iran started, it was the economy
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  • On a better trajectory than it had been.
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  • We had had really rapid growth in the third quarter
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  • Of last year, 4.4%.
  • 00:07:55.000 --> 00:07:57.036
  • It dipped to literally 0.7% in the fourth quarter.
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  • Part of that is the government shutdown.
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  • So it's probably closer to something like, 2%.
  • 00:08:02.808 --> 00:08:06.211
  • But it would have been slowing down in the wild cards in,
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  • In the outlook.
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  • Where would the household sector be able to continue to spend.
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  • And that's that was the one open question.
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  • We've seen good spending flatline in the fourth quarter
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  • And would businesses continue to invest at the pace
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  • They had
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  • And get the productivity that we were
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  • We were seeing out of those investments?
  • 00:08:25.664 --> 00:08:27.866
  • So far we've gotten the right answer to both of those.
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  • We got,
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  • Pretty good
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  • Retail sales report, and we'll see if that translates
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  • Into a good quarter of spending.
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  • We've had pretty strong investment
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  • And orders for new capital goods.
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  • So that's good news for the outlook.
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  • Estimates for the first quarter is going to
  • 00:08:41.780 --> 00:08:43.215
  • Still come in relatively slow, 1.3%.
  • 00:08:43.215 --> 00:08:46.385
  • But that's the third wild card,
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  • Which is the hostilities in iran,
  • 00:08:47.586 --> 00:08:49.355
  • Which have been in a bit of a headwind to the economy.
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  • One of the benefits that's going to kick in this spring is
  • 00:08:53.025 --> 00:08:55.794
  • The bigger irs refunds and lower taxes for a lot of people.
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  • Are there signs of that money
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  • Showing up in consumer confidence yet?
  • 00:09:00.833 --> 00:09:04.570
  • The sentiment numbers have stayed pretty strong.
  • 00:09:04.570 --> 00:09:08.073
  • You know, a lot of people worry that, you know, with the,
  • 00:09:08.073 --> 00:09:10.476
  • Hostilities price of gas going up, all the bad news
  • 00:09:10.476 --> 00:09:13.345
  • That you hear, that the consumers might head south.
  • 00:09:13.345 --> 00:09:16.749
  • No sign of that.
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  • They still remain relatively optimistic
  • 00:09:18.350 --> 00:09:20.119
  • About the near-term outlook.
  • 00:09:20.119 --> 00:09:21.987
  • The cash is showing up.
  • 00:09:21.987 --> 00:09:23.355
  • We can see that in the irs data.
  • 00:09:23.355 --> 00:09:25.457
  • Getting a couple of hundred bucks back.
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  • More than that in years past.
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  • And, all evidence is people will spend it.
  • 00:09:29.361 --> 00:09:31.563
  • So, i don't see, doom and gloom
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  • Forecast where somehow we're going to run into a recession.
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  • Given what we know now,
  • 00:09:38.037 --> 00:09:39.104
  • We're going to grow a little more slowly than we
  • 00:09:39.104 --> 00:09:40.539
  • Otherwise might have grown,
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  • And it'll pick up as the year goes on.
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  • Well, the gross domestic
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  • Product was on a strong track prior to the start of the war.
  • 00:09:46.278 --> 00:09:49.782
  • What sort of growth do you think the country
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  • Will have by the end of the year?
  • 00:09:51.350 --> 00:09:54.219
  • I think we'll be back to something that looks like 3%.
  • 00:09:54.219 --> 00:09:56.588
  • I thought we'd average 3% for the year, but now i think,
  • 00:09:56.588 --> 00:10:00.292
  • There'll be a slower start because of the war.
  • 00:10:00.292 --> 00:10:02.027
  • And but what we'll pick up
  • 00:10:02.027 --> 00:10:03.495
  • In the second half and see a strong finish in 2026.
  • 00:10:03.495 --> 00:10:06.932
  • I'm curious, do you have any details on
  • 00:10:07.766 --> 00:10:09.501
  • Whether the interest
  • 00:10:09.501 --> 00:10:10.202
  • Deduction for cars
  • 00:10:10.202 --> 00:10:11.370
  • Made in america is helping consumers in the automakers,
  • 00:10:11.370 --> 00:10:14.506
  • Especially given the high cost of new vehicles?
  • 00:10:14.506 --> 00:10:17.643
  • I don't think that's big enough
  • 00:10:18.277 --> 00:10:19.712
  • To swing the decision, to be honest.
  • 00:10:19.712 --> 00:10:23.115
  • You still have interest rates that are relatively high,
  • 00:10:23.115 --> 00:10:26.452
  • Concerns about inflation
  • 00:10:26.985 --> 00:10:28.120
  • That are going to keep them relatively high.
  • 00:10:28.120 --> 00:10:30.389
  • And, you know, the sticker shock
  • 00:10:30.389 --> 00:10:33.692
  • Is the price of the car itself, so that that deduction helps,
  • 00:10:33.692 --> 00:10:37.162
  • But it's not big enough to reall
  • 00:10:37.162 --> 00:10:40.466
  • Well, following up on the
  • 00:10:41.033 --> 00:10:42.468
  • Dodge effort from last year,
  • 00:10:42.468 --> 00:10:44.236
  • You were the director of the congressional budget office.
  • 00:10:44.236 --> 00:10:46.905
  • Have you seen any noticeable savings
  • 00:10:46.905 --> 00:10:48.774
  • From the excess spending that team uncovered?
  • 00:10:48.774 --> 00:10:52.478
  • Those uncovered, some,
  • 00:10:52.945 --> 00:10:54.813
  • Some spending that can be cut out.
  • 00:10:54.813 --> 00:10:56.849
  • And they did something that looks like a couple hundred
  • 00:10:56.849 --> 00:10:59.985
  • Billion dollars.
  • 00:10:59.985 --> 00:11:01.487
  • Never the 2 trillion that mr.
  • 00:11:01.487 --> 00:11:03.522
  • Musk, predicted.
  • 00:11:03.522 --> 00:11:05.758
  • I think the bigger missed by by those was
  • 00:11:05.758 --> 00:11:08.961
  • We really didn't get the overhaul of the government's,
  • 00:11:08.961 --> 00:11:12.731
  • Information systems, the, the capacity to be
  • 00:11:12.731 --> 00:11:16.101
  • More efficient in 21st century, the operation of the agencies.
  • 00:11:16.101 --> 00:11:19.805
  • I'd sure like to see that happen.
  • 00:11:19.805 --> 00:11:21.540
  • That that's long, long, long overdue.
  • 00:11:21.540 --> 00:11:24.877
  • You know, was a great idea.
  • 00:11:24.877 --> 00:11:26.678
  • Probably not executed to 100%.
  • 00:11:26.678 --> 00:11:28.614
  • And and there's still room for improvement.
  • 00:11:28.614 --> 00:11:31.216
  • Well, doug,
  • 00:11:31.550 --> 00:11:32.518
  • Listening to you, it seems to me that you think
  • 00:11:32.518 --> 00:11:33.819
  • The snapshots of the economy are all pretty positive.
  • 00:11:33.819 --> 00:11:36.789
  • Do you think the news is good enough
  • 00:11:36.789 --> 00:11:38.056
  • To have a positive impact on the midterm elections?
  • 00:11:38.056 --> 00:11:41.360
  • That's a that's a great question.
  • 00:11:42.094 --> 00:11:44.329
  • That the news we haven't talked about is inflation.
  • 00:11:44.329 --> 00:11:46.698
  • And i think
  • 00:11:46.698 --> 00:11:47.800
  • Inflation's going to be the single biggest economic,
  • 00:11:47.800 --> 00:11:51.103
  • Consideration.
  • 00:11:51.436 --> 00:11:52.938
  • There are two kinds of inflation that people care about.
  • 00:11:52.938 --> 00:11:55.107
  • One is just the shelter
  • 00:11:55.107 --> 00:11:58.377
  • Food, gas, the sort of core spending items.
  • 00:11:58.377 --> 00:12:01.814
  • And the gas price story is a bad one.
  • 00:12:01.814 --> 00:12:04.783
  • Bad news for for republicans and for the president.
  • 00:12:04.783 --> 00:12:08.654
  • They're hoping that'll reverse by november.
  • 00:12:08.654 --> 00:12:10.189
  • We'll see.
  • 00:12:10.189 --> 00:12:11.390
  • The more general inflation issue is that,
  • 00:12:11.390 --> 00:12:14.927
  • Inflation is not back at 2%.
  • 00:12:14.927 --> 00:12:16.995
  • Inflation was back to three and now is going north
  • 00:12:16.995 --> 00:12:20.399
  • Instead of south.
  • 00:12:20.399 --> 00:12:21.533
  • We're going to get two reports, this week.
  • 00:12:21.533 --> 00:12:24.603
  • Worth keeping an eye on it.
  • 00:12:24.603 --> 00:12:25.671
  • The one we get on thursday
  • 00:12:25.671 --> 00:12:27.706
  • Will be, a report on the trends in inflation prior to the war.
  • 00:12:27.706 --> 00:12:31.877
  • That's the so-called personal consumption
  • 00:12:31.877 --> 00:12:34.379
  • Expenditure price index, the fed's preferred measure.
  • 00:12:34.379 --> 00:12:36.915
  • On friday, we'll get the commercial cpi.
  • 00:12:36.915 --> 00:12:39.585
  • That's going to include march data.
  • 00:12:39.585 --> 00:12:40.853
  • So it'll be our
  • 00:12:40.853 --> 00:12:42.020
  • First reading on inflation after the hostilities began.
  • 00:12:42.020 --> 00:12:45.257
  • And or all expectations are
  • 00:12:45.257 --> 00:12:47.826
  • That's going to be a very hot number.
  • 00:12:47.826 --> 00:12:49.127
  • Something that's going up
  • 00:12:49.127 --> 00:12:50.062
  • Like a full percentage point in one month.
  • 00:12:50.062 --> 00:12:52.030
  • So a 12% annual rate.
  • 00:12:52.030 --> 00:12:53.765
  • So be ready for that.
  • 00:12:53.765 --> 00:12:55.334
  • Well, doug, we need to take a short break.
  • 00:12:56.201 --> 00:12:57.736
  • Would you stay for another segment?
  • 00:12:57.736 --> 00:12:59.705
  • Absolutely. in the break.
  • 00:12:59.705 --> 00:13:01.573
  • You can all log on to aj now.com.
  • 00:13:01.573 --> 00:13:03.775
  • You can send me an email by clicking
  • 00:13:03.775 --> 00:13:05.344
  • Right there on the upper right.
  • 00:13:05.344 --> 00:13:07.012
  • I'll be right back.
  • 00:13:07.012 --> 00:13:15.000
  • I'll be right back.
  • 00:13:15.000 --> 00:13:20.549
  • We're back
  • 00:13:20.849 --> 00:13:21.783
  • Now with the president of the american action
  • 00:13:21.783 --> 00:13:23.352
  • Forum, doug holtz-eakin.
  • 00:13:23.352 --> 00:13:25.287
  • President trump made
  • 00:13:25.287 --> 00:13:26.288
  • That multi-country overseas trip last year,
  • 00:13:26.288 --> 00:13:29.291
  • And he came back with several commitments
  • 00:13:29.291 --> 00:13:30.993
  • To invest trillions of dollars here at home factories,
  • 00:13:30.993 --> 00:13:34.062
  • More jobs, a bigger tax base for the states that housed them.
  • 00:13:34.062 --> 00:13:37.399
  • Listen to what he said.
  • 00:13:37.399 --> 00:13:39.334
  • We're determined to have the best technology,
  • 00:13:39.334 --> 00:13:42.638
  • The brightest minds, the greatest businesses,
  • 00:13:42.638 --> 00:13:44.940
  • And the strongest economic
  • 00:13:44.940 --> 00:13:46.375
  • And security partnerships of any nation anywhere in the world.
  • 00:13:46.375 --> 00:13:50.445
  • We're doing really well with building factories
  • 00:13:50.445 --> 00:13:52.714
  • All over america, the biggest in the world.
  • 00:13:52.714 --> 00:13:55.517
  • And in america. we don't fear the future.
  • 00:13:55.517 --> 00:13:57.519
  • We invent the future.
  • 00:13:57.519 --> 00:13:59.021
  • Do you think that having a businessman as president
  • 00:14:00.055 --> 00:14:02.491
  • Who knows how to get the nation's
  • 00:14:02.491 --> 00:14:03.759
  • Finances in order, is working
  • 00:14:03.759 --> 00:14:05.460
  • Better than strictly politicians trying to do it?
  • 00:14:05.460 --> 00:14:09.164
  • Well, i certainly think that we had to do some
  • 00:14:09.164 --> 00:14:11.333
  • Do better than we've been doing.
  • 00:14:11.333 --> 00:14:13.302
  • You know, we got some great commitments
  • 00:14:13.302 --> 00:14:15.237
  • For investments in the united states.
  • 00:14:15.237 --> 00:14:17.506
  • A lot of them were put in doubt
  • 00:14:17.506 --> 00:14:18.840
  • By the supreme court ruling on the tariffs,
  • 00:14:18.840 --> 00:14:20.742
  • But they seem to have, circled around and gotten those
  • 00:14:20.742 --> 00:14:24.546
  • Those commitments firmed back up.
  • 00:14:24.546 --> 00:14:25.814
  • So, as the years unfold, those those are important,
  • 00:14:25.814 --> 00:14:29.618
  • Technologies that we created here in the united states.
  • 00:14:29.618 --> 00:14:32.354
  • That's one of the things
  • 00:14:32.354 --> 00:14:33.422
  • The united states does better than anyone else.
  • 00:14:33.422 --> 00:14:35.023
  • When when asked, like, what's unique about the u.s.?
  • 00:14:35.023 --> 00:14:37.659
  • I always tell the world, we invent things
  • 00:14:37.659 --> 00:14:39.428
  • And we grow things.
  • 00:14:39.428 --> 00:14:40.162
  • We have unparalleled,
  • 00:14:40.162 --> 00:14:41.763
  • Farm sector, unparalleled innovative sector.
  • 00:14:41.763 --> 00:14:44.366
  • So, this firms that up.
  • 00:14:44.366 --> 00:14:46.468
  • I'd say the the wild card is literally the nation's finances.
  • 00:14:46.468 --> 00:14:49.438
  • Or we still have too much debt.
  • 00:14:49.438 --> 00:14:51.640
  • We still are running very large deficits, and and we haven't
  • 00:14:51.640 --> 00:14:54.943
  • We haven't come to terms with that yet.
  • 00:14:54.943 --> 00:14:56.311
  • That's the last item on the agenda.
  • 00:14:56.311 --> 00:14:58.947
  • Well, the
  • 00:14:59.247 --> 00:15:00.449
  • President has had to lower his initial tariff increases.
  • 00:15:00.449 --> 00:15:02.617
  • But my question is, are
  • 00:15:02.617 --> 00:15:03.752
  • They still helping american businesses
  • 00:15:03.752 --> 00:15:05.454
  • That were being undercut with cheap imports
  • 00:15:05.454 --> 00:15:07.756
  • And proving useful to consumers here?
  • 00:15:07.756 --> 00:15:10.959
  • I'd say they're a mixed.
  • 00:15:11.493 --> 00:15:12.394
  • They're a mixed bag.
  • 00:15:12.394 --> 00:15:13.295
  • To be honest, the they're helping,
  • 00:15:13.295 --> 00:15:16.264
  • The those affected industries where you get some tariff
  • 00:15:16.264 --> 00:15:18.734
  • Protection from, people who are selling below costs
  • 00:15:18.734 --> 00:15:21.870
  • And using, forced labor in some cases.
  • 00:15:21.870 --> 00:15:24.873
  • But if you're a manufacturer
  • 00:15:24.873 --> 00:15:26.274
  • In the us and you're paying more for steel,
  • 00:15:26.274 --> 00:15:28.076
  • That's the bad news story for you.
  • 00:15:28.076 --> 00:15:29.344
  • And for some consumers, it's just higher prices.
  • 00:15:29.344 --> 00:15:31.713
  • And no one likes higher prices.
  • 00:15:31.713 --> 00:15:32.948
  • So you're going to see some winners and losers out of,
  • 00:15:32.948 --> 00:15:35.717
  • The tariffs, just like you see
  • 00:15:35.717 --> 00:15:37.285
  • Winners and losers out of almost every, tax policy.
  • 00:15:37.285 --> 00:15:40.022
  • I've got a question about government spending.
  • 00:15:40.989 --> 00:15:43.058
  • You know, for years we heard complaints
  • 00:15:43.058 --> 00:15:44.493
  • About how we spend money to go into space, into the moon.
  • 00:15:44.493 --> 00:15:47.662
  • Yeah.
  • 00:15:47.662 --> 00:15:48.563
  • After a long run of doing very little,
  • 00:15:48.563 --> 00:15:49.698
  • President trump fired things up again.
  • 00:15:49.698 --> 00:15:51.433
  • And the entire country is watching
  • 00:15:51.433 --> 00:15:52.667
  • America circle the moon.
  • 00:15:52.667 --> 00:15:53.835
  • Now for all the complaints.
  • 00:15:53.835 --> 00:15:55.771
  • Only 3/10 of 1% of the federal budget is spent on nasa.
  • 00:15:55.771 --> 00:15:59.641
  • But i think about the fraud
  • 00:15:59.641 --> 00:16:00.709
  • And the type of ways that the doj's group found.
  • 00:16:00.709 --> 00:16:02.677
  • It seems like the nasa funding is money very well spent.
  • 00:16:02.677 --> 00:16:06.248
  • What are your thoughts on that?
  • 00:16:06.248 --> 00:16:08.583
  • So when the founders and, created the united states, they,
  • 00:16:08.583 --> 00:16:12.154
  • They really put in the annual decisions of congress,
  • 00:16:12.154 --> 00:16:14.756
  • The place where we do basic research, infrastructure,
  • 00:16:14.756 --> 00:16:17.692
  • Education, innovation and national security.
  • 00:16:17.692 --> 00:16:20.796
  • And and those are the places that are least
  • 00:16:20.796 --> 00:16:24.232
  • Well funded in the budget that over time,
  • 00:16:24.232 --> 00:16:26.802
  • The big spending programs social security, medicare,
  • 00:16:26.802 --> 00:16:29.671
  • Medicaid, affordable care, accident down
  • 00:16:29.671 --> 00:16:31.540
  • That list have crowded out those kinds of spending.
  • 00:16:31.540 --> 00:16:34.776
  • And the waste, is a drag on everything.
  • 00:16:34.776 --> 00:16:37.379
  • So, you know,
  • 00:16:37.379 --> 00:16:38.513
  • If i could wave a magic wand at the federal budget,
  • 00:16:38.513 --> 00:16:41.349
  • I'd get our fiscal house
  • 00:16:41.349 --> 00:16:42.551
  • In order by having the revenues matched.
  • 00:16:42.551 --> 00:16:44.252
  • The spending gets the spending control under the spending
  • 00:16:44.252 --> 00:16:47.622
  • Under better control.
  • 00:16:47.622 --> 00:16:48.623
  • But i'd also balance it out better.
  • 00:16:48.623 --> 00:16:50.258
  • So we are spending on
  • 00:16:50.258 --> 00:16:51.693
  • The infrastructure and the innovation,
  • 00:16:51.693 --> 00:16:53.728
  • More than we are right now.
  • 00:16:53.728 --> 00:16:55.864
  • Although you've mentioned our spending and our enormous debt.
  • 00:16:55.864 --> 00:16:59.101
  • Let's step out of your policy.
  • 00:16:59.101 --> 00:17:00.569
  • I mean, your evaluation role, and you can create some policy.
  • 00:17:00.569 --> 00:17:04.239
  • How do we deal with that debt, given our reluctance to touch
  • 00:17:04.239 --> 00:17:08.176
  • Welfare and social security and some of those sacred buckets?
  • 00:17:08.176 --> 00:17:13.148
  • I think the reality is we're
  • 00:17:13.748 --> 00:17:15.183
  • Going to touch social security, but to name one,
  • 00:17:15.183 --> 00:17:18.286
  • The social security trust fund goes bankrupt in six years.
  • 00:17:18.286 --> 00:17:21.123
  • Inevitably, people getting older,
  • 00:17:21.123 --> 00:17:22.824
  • One year at a time, just like they used to.
  • 00:17:22.824 --> 00:17:24.960
  • And so when that happens, there's a 25%
  • 00:17:24.960 --> 00:17:28.296
  • Across the board cut in social security benefits.
  • 00:17:28.296 --> 00:17:30.365
  • I don't think you or i or anyone would like to see that happen.
  • 00:17:30.365 --> 00:17:33.635
  • So there will be a social security reform
  • 00:17:33.635 --> 00:17:35.570
  • And there should be, because right now, if you're 55,
  • 00:17:35.570 --> 00:17:39.641
  • In ten years, you want to retire,
  • 00:17:39.641 --> 00:17:41.343
  • You don't know what you're going to get,
  • 00:17:41.343 --> 00:17:42.544
  • Because we don't know how what the fix is going to look like.
  • 00:17:42.544 --> 00:17:45.013
  • So it is incumbent upon current and future congresses
  • 00:17:45.013 --> 00:17:48.316
  • Presidents to take social security
  • 00:17:48.316 --> 00:17:50.385
  • And make it solvent for the future.
  • 00:17:50.385 --> 00:17:52.120
  • And in doing so,
  • 00:17:52.120 --> 00:17:53.455
  • You can do some things like means tested more aggressively.
  • 00:17:53.455 --> 00:17:57.025
  • Social security was meant to be insurance
  • 00:17:57.025 --> 00:17:58.827
  • Against outliving your economic resources.
  • 00:17:58.827 --> 00:18:01.029
  • I think we can all name a few americans
  • 00:18:01.029 --> 00:18:02.864
  • Who are unlikely to outlive their economic resources.
  • 00:18:02.864 --> 00:18:05.267
  • Maybe they shouldn't get a social security check.
  • 00:18:05.267 --> 00:18:07.569
  • So if we just got serious about targeting it more effectively,
  • 00:18:07.569 --> 00:18:11.306
  • I think we can get the spending under control,
  • 00:18:11.306 --> 00:18:13.141
  • Including social security,
  • 00:18:13.141 --> 00:18:14.609
  • And make a real run at getting the debt under control.
  • 00:18:14.609 --> 00:18:17.846
  • So if we could limit the fraud,
  • 00:18:17.846 --> 00:18:19.681
  • Have the courage to deal with social security,
  • 00:18:19.681 --> 00:18:21.483
  • We could get a better trajectory.
  • 00:18:21.483 --> 00:18:23.318
  • No question.
  • 00:18:23.318 --> 00:18:24.819
  • Half of the spending in the next
  • 00:18:24.819 --> 00:18:25.854
  • Ten years is social security and medicare.
  • 00:18:25.854 --> 00:18:27.689
  • And of those two social screws, the easiest to fix is it's
  • 00:18:27.689 --> 00:18:31.026
  • Just money in. money out.
  • 00:18:31.026 --> 00:18:32.661
  • Health care is always harder.
  • 00:18:32.661 --> 00:18:34.229
  • We're going to work on medicare as well.
  • 00:18:34.229 --> 00:18:36.264
  • But that's less dramatic changes.
  • 00:18:36.264 --> 00:18:37.599
  • That's that's steady, continual attempts
  • 00:18:37.599 --> 00:18:39.901
  • To improve the quality of health care in the united states.
  • 00:18:39.901 --> 00:18:42.871
  • Well, doug, thank you for covering
  • 00:18:43.638 --> 00:18:45.006
  • So many different issues for us today.
  • 00:18:45.006 --> 00:18:47.309
  • We'd love to have you back.
  • 00:18:47.309 --> 00:18:48.543
  • Once things settle down a bit after this iran fight is over.
  • 00:18:48.543 --> 00:18:51.947
  • Well, let's let's hope that soon.
  • 00:18:51.947 --> 00:18:53.515
  • I'd love to be back any time.
  • 00:18:53.515 --> 00:18:55.016
  • Let a little moment your emails.
  • 00:18:55.016 --> 00:18:56.718
  • The inbox is full again
  • 00:18:56.718 --> 00:18:58.353
  • And i'll be answering your good questions.
  • 00:18:58.353 --> 00:19:00.855
  • I'll be right back.
  • 00:19:00.855 --> 00:19:07.999
  • I'll be right back.
  • 00:19:07.999 --> 00:19:13.235
  • Thank you for taking the time to send your emails there.
  • 00:19:14.369 --> 00:19:16.638
  • Always a highlight.
  • 00:19:16.638 --> 00:19:18.206
  • Nina from the bronx wrote i'm terrified
  • 00:19:18.206 --> 00:19:21.042
  • By the mark of the beast causing refusers of it to die.
  • 00:19:21.042 --> 00:19:24.079
  • A quick or a slow, agonizing death.
  • 00:19:24.079 --> 00:19:26.915
  • And they have no way to pay for
  • 00:19:26.915 --> 00:19:28.216
  • Food, water, electricity, medicine
  • 00:19:28.216 --> 00:19:30.118
  • And hospitalization, rent, mortgage, fuel, pet food, etc..
  • 00:19:30.118 --> 00:19:34.256
  • Basic necessities of physical life.
  • 00:19:34.256 --> 00:19:37.025
  • I'm distressed by no mention in the bible
  • 00:19:37.025 --> 00:19:38.827
  • Of how we who refuse the mark will survive.
  • 00:19:38.827 --> 00:19:41.730
  • And i do pray we believers will be caught up in the air.
  • 00:19:41.730 --> 00:19:44.332
  • Dead or alive with jesus before this overwhelming devastation
  • 00:19:44.332 --> 00:19:48.103
  • Of suffering and death might occur.
  • 00:19:48.103 --> 00:19:50.572
  • Well, nina, i think i have good news.
  • 00:19:51.373 --> 00:19:53.908
  • You know, i trust the same lord that watches over us
  • 00:19:53.908 --> 00:19:56.344
  • Today to watch over us in the future.
  • 00:19:56.344 --> 00:19:59.848
  • Our provision and care from god is not dependent
  • 00:19:59.848 --> 00:20:04.219
  • Upon all the other things happening in the earth.
  • 00:20:04.219 --> 00:20:06.888
  • What are the scriptural portions?
  • 00:20:06.888 --> 00:20:08.623
  • It's most helpful to me is jeremiah.
  • 00:20:08.623 --> 00:20:10.692
  • He was the prophet in jerusalem,
  • 00:20:10.692 --> 00:20:12.827
  • And he's telling the people that they're going
  • 00:20:12.827 --> 00:20:14.429
  • To be destroyed, that the babylonians are coming
  • 00:20:14.429 --> 00:20:16.331
  • And there's nothing they can do.
  • 00:20:16.331 --> 00:20:18.166
  • And jeremiah has to live through that.
  • 00:20:18.166 --> 00:20:19.768
  • He has to live through the resentment of his message.
  • 00:20:19.768 --> 00:20:21.803
  • It wasn't well received,
  • 00:20:21.803 --> 00:20:23.538
  • But even when the babylonians arrived, god cared for jeremiah.
  • 00:20:23.538 --> 00:20:27.475
  • He made provision for him, for his future.
  • 00:20:27.475 --> 00:20:29.811
  • And i'm quite confident
  • 00:20:29.811 --> 00:20:31.513
  • That whatever's coming on the earth and whatever
  • 00:20:31.513 --> 00:20:33.581
  • God's timeline for the end of the age,
  • 00:20:33.581 --> 00:20:35.717
  • That he'll watch over you, even in the bronx.
  • 00:20:35.717 --> 00:20:38.620
  • God is faithful.
  • 00:20:38.620 --> 00:20:40.722
  • Judy, be from california.
  • 00:20:41.289 --> 00:20:42.824
  • You said the email from the gentleman
  • 00:20:42.824 --> 00:20:44.125
  • Who said he's always been asked for id
  • 00:20:44.125 --> 00:20:45.894
  • To vote
  • 00:20:45.894 --> 00:20:47.128
  • Must not live in this crazy but beautiful state of california.
  • 00:20:47.128 --> 00:20:49.698
  • I'm an 80 year old native.
  • 00:20:49.698 --> 00:20:50.832
  • I voted for years and i've never been asked.
  • 00:20:50.832 --> 00:20:53.268
  • I've also registered voters
  • 00:20:53.268 --> 00:20:54.769
  • In our local mall and never required id.
  • 00:20:54.769 --> 00:20:57.172
  • I believe it's time.
  • 00:20:57.172 --> 00:20:58.573
  • God bless you, pastor.
  • 00:20:58.573 --> 00:21:00.342
  • Well, judy, i couldn't agree more.
  • 00:21:00.342 --> 00:21:01.976
  • If we need an id to buy an airplane ticket.
  • 00:21:01.976 --> 00:21:04.746
  • We need an i.d.
  • 00:21:04.746 --> 00:21:06.214
  • For so many things.
  • 00:21:06.214 --> 00:21:07.549
  • I think asking for an id to vote is just common sense.
  • 00:21:07.549 --> 00:21:10.618
  • And finally, victoria from tennessee said,
  • 00:21:11.519 --> 00:21:13.254
  • What are your thoughts on the geneva bible?
  • 00:21:13.254 --> 00:21:15.857
  • I've never heard of it before today.
  • 00:21:15.857 --> 00:21:17.325
  • I don't know whether to believe what they say about 22 chapters
  • 00:21:17.325 --> 00:21:20.295
  • More than the king james version.
  • 00:21:20.295 --> 00:21:22.297
  • I would love to hear what you know and think about it.
  • 00:21:22.297 --> 00:21:24.366
  • We can always count on you for the truth. god bless.
  • 00:21:24.366 --> 00:21:27.268
  • Well, victoria, we'll do a show
  • 00:21:27.902 --> 00:21:29.304
  • One day on how we got our bible and unpack that whole process.
  • 00:21:29.304 --> 00:21:33.475
  • But in the meantime, let me give you a portion
  • 00:21:33.475 --> 00:21:35.643
  • That i think might help,
  • 00:21:35.643 --> 00:21:37.112
  • You know, the hebrew bible, the old testament.
  • 00:21:37.112 --> 00:21:39.481
  • We have the opposite issue. we have the new testament.
  • 00:21:39.481 --> 00:21:41.316
  • We don't have very many manuscripts.
  • 00:21:41.316 --> 00:21:42.584
  • In fact, the most reliable manuscript
  • 00:21:42.584 --> 00:21:44.285
  • We have goes back to about a thousand years a.d.
  • 00:21:44.285 --> 00:21:47.856
  • The scholars went nuts.
  • 00:21:48.356 --> 00:21:49.391
  • They said it was a corrupt text, that christians
  • 00:21:49.391 --> 00:21:51.559
  • Had added passages that had been manipulated
  • 00:21:51.559 --> 00:21:54.262
  • All sorts of things.
  • 00:21:54.262 --> 00:21:55.997
  • When the dead sea scrolls, the first of the dead sea
  • 00:21:55.997 --> 00:21:57.932
  • Scrolls, was found in 1948,
  • 00:21:57.932 --> 00:22:00.235
  • They found a copy of the book of isaiah.
  • 00:22:00.235 --> 00:22:01.803
  • There was more than a thousand years
  • 00:22:01.803 --> 00:22:03.204
  • Older than the oldest manuscript we had,
  • 00:22:03.204 --> 00:22:06.241
  • And the book of isaiah, which had been
  • 00:22:06.241 --> 00:22:07.542
  • The most scrutinized book, was almost letter
  • 00:22:07.542 --> 00:22:09.477
  • For letter, identical to the text we had.
  • 00:22:09.477 --> 00:22:11.946
  • God knows how to protect his word.
  • 00:22:11.946 --> 00:22:14.449
  • You don't have to be stressed.
  • 00:22:14.449 --> 00:22:16.251
  • Folks, god's moving in the earth
  • 00:22:16.251 --> 00:22:17.519
  • And he's watching over you and me.
  • 00:22:17.519 --> 00:22:19.521
  • I pray you have a blessed night. good night.
  • 00:22:19.521 --> 00:22:19.521