The Best Of The Great America Show: January 2, 2025
The Great America Show
Fawcett Strategies
4.7 • 1.8K Ratings
🗓️ 2 January 2025
⏱️ 51 minutes
🧾️ Download transcript
Summary
With Trump's recent endorsement of Speaker Johnson to keep that role in the new congress, we take a look back at what Johnson has been up to during his time as Speaker. Speaker Mike Johnson is back with another surprise — a 1,547-page continuing resolution worth $110 billion. The bill of course provides not a dollar to border security and is just another woke slush fund for the democrats. The bill also manages to give members of the house a 20% raise, to account for a living reimbursement. What about the average American, what kind of raise are they getting? A raise in inflation, a raise in household debt, a raise in credit card debt — that’s the raise Congress wants to hand us, the American People.
Guest: John Lonski - Economist, CEO of The Lonski Group
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Transcript
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| 0:00.0 | Hello, everybody and welcome to The Great America Show. |
| 0:05.1 | It's great to have you with us. |
| 0:06.1 | Thanks so much for joining us today. |
| 0:08.0 | Our guest today is John Lonski. |
| 0:09.4 | He's the CEO of the Lonski Group. |
| 0:11.2 | John, thanks so much for joining us today here |
| 0:13.1 | on The Great America Show. |
| 0:14.1 | I want to start with what we saw yesterday, |
| 0:16.8 | the 10th straight losing day on the Dow, first since 1974, Dow taking a nearly 1,200-point hit. |
| 0:25.1 | After Jerome Powell decided he wanted to come out and we'll say play politics, what's your thoughts? |
| 0:32.0 | I think that is very much the case, you know. I was struck by the fact that, you know, back at the September |
| 0:38.3 | FOMC meeting, we had the FOMC downwardly revise its forecast for the Fed Funds |
| 0:47.7 | rate of year on 2024, suddenly from 5.1 percent that was taken in March and, excuse me, June, to September's 4.4%. And indeed, |
| 1:00.7 | that turns out to be the case. Fed funds ends this year at 4.38%, about 4.4. But what was |
| 1:08.1 | striking about this is that I cannot help but think that the FOMC, the Federal Reserve, |
| 1:15.8 | was cutting rates back in September deeply by half a percentage point because they were very worried |
| 1:23.2 | that Donald Trump would indeed be reelected president of the United States. |
| 1:28.4 | They were trying to do whatever they could possibly do to improve the chances of the Democrats |
| 1:35.5 | holding on to the presidency. |
| 1:38.0 | And it didn't work, as it turned out. |
| 1:40.2 | Trump ended up becoming victorious. |
| 1:43.1 | Now, the other thing I'm struck by is that up until Trump's |
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