Encore: $38 Trillion in Debt & Everyone Yawns
3 Martini Lunch
Radio America
4.6 • 1.4K Ratings
🗓️ 25 December 2025
⏱️ 28 minutes
🧾️ Download transcript
Summary
Join Jim and Greg as they dive into stories that didn’t quite make the cut for full martinis in recent weeks but still deserve attention. Jim examines the persistent challenges of inflation and America’s skyrocketing debt, while Greg highlights a major Trump victory at the United Nations and new signs that one expected 2028 Democrat contender may be bowing out before the race begins. Then they get a little but more on the lighter side for their final martinis.
First, Jim notes that while inflation is much more under control than during the Biden administration, it's still stubbornly at or around three percent year-over-year most months and it's still making many Americans sweat. Greg focuses on the Trump administration leading the charge to stop a United Nations carbon emissions tax on shipping. Greg cheers the latest win in blocking the left's green agenda and higher prices for the goods on those ships. Jim adds another critical point that's key in any discussion of the United Nations.
Next, Jim shudders as the national debt officially soars beyond the $38 trillion mark and he's especially horrified at how fast the debt is growing. Meanwhile, Greg points out recent comments from Michigan Gov. Gretchen Whitmer suggesting she may not run for president in 2028. That would be good news given Whitmer's terrible record as governor.
Finally, Jim explains how the NFL's desire to reach younger fans could soon lead to a significant drop in viewership. Greg wonders if there is any integrity left in competition after another cheating scandal rocks a world championship.
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| 0:00.0 | Welcome to the three martini lunch. |
| 0:04.4 | Grab a stole next to Greg Carumbus of Radio America and Jim Garrity of National Review. |
| 0:10.6 | Three martini's coming up. |
| 0:13.2 | So glad you're with us for the Friday edition of the Three Martini Lunch. |
| 0:16.6 | Hope you enjoyed Thursday's special on our most favorite, least favorite and craziest election |
| 0:21.6 | nights that we can remember. Jim and I certainly enjoyed geeking out over those different |
| 0:25.6 | election cycles. Jim and I are both technically away today or officially away, and so our special |
| 0:31.3 | today is one that we did a few months ago, stories that kind of slipped through the cracks, easily |
| 0:35.3 | could have been martini's, but other stories just kind of push them off the page. So we've got some good, we've got some crazy. I've actually got two good ones, Jim. I don't know if you've got one of each, but it's just amazing. Some of these stories that only happened a couple of weeks ago, and it feels like they happened about six months ago. It's just the way the news cycle goes. You know, I probably would characterize these as bad, bad, and potentially bad. We'll see. |
| 0:59.0 | Well, it's a weird day when I'm the optimist, but we'll see how this unfolds as we go along. |
| 1:03.6 | But all right, Jim, I'm excited for this juxtaposition of pessimism and mostly optimism with a little bit of frivolity at the end here. |
| 1:15.2 | But what's your first story that fell through the cracks here? It's not like they don't cover inflation, |
| 1:17.7 | but there's an aspect of inflation rate that doesn't get nearly enough attention. |
| 1:21.1 | The Wall Street Journal editorial board did notice this, |
| 1:23.2 | but I've seen very little discussion of this anywhere else. |
| 1:26.2 | So I went back and checked. |
| 1:32.9 | Every month since June 2024, the U.S. inflation rate on a year-to-year comparison was between 2.3% and 3%. |
| 1:35.1 | With most months, it's pretty close to 3%. |
| 1:37.5 | In September, it was 3%. |
| 1:39.2 | So, you know, that's obviously better than it was, it was 9% in the, you know, middle of the Biden years in June 2022. But 3% the Wall Street Journal editorial board argues is not really what we should consider to be good. The Trump administration keeps saying, you know, this is a real, they basically are saying mission accomplished to think back to Bush and the aircraft carrier. They put out statements every month taking a victory lap. |
| 2:00.8 | And here's the thing. Let's say we were at that 2% goal, which is what the US Federal Reserve |
| 2:05.5 | had been saying, is that the aim for what we want the inflation rate to be. So you got a dollar |
... |
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