Speaker 1: Every single bit of information when you we like to
Speaker 1: listen elect fifty five krs.
Speaker 2: Coming up on seven six and fifty five car ce
Speaker 2: De Talk.
Speaker 3: Station, A very happy Tuesday to you.
Speaker 2: Get the insight with Insight Scoop with Bright Barton News
Speaker 2: and are out latest on the election from Capitol Hill
Speaker 2: reporter Nick Gilbertson and the Daniel Davis Deep Dive at
Speaker 2: E thirty. In the meantime, welcome back's been too long
Speaker 2: for talking on the fifty five Cars Morning Show, the
Speaker 2: founder and creator Brain shout of his empower You America,
Speaker 2: Dan Regnold. Welcome back, Dan Regnold. I start by asking you,
Speaker 2: how are you enjoying retirement, my.
Speaker 4: Friend, I don't know. I don't I don't know if
Speaker 4: I'll ever be retired, Brian, but thanks for asking, and
Speaker 4: it's so so so good to talk to you. And
Speaker 4: what about those folks leaving on that honor flight tomorrow.
Speaker 4: I want to send a shout out to them because
Speaker 4: that is such an incredibly great program. I hope they
Speaker 4: have the times of their lives.
Speaker 2: They will, you know, it's true, having been on a
Speaker 2: couple myself, it's just it's a I don't see life altering,
Speaker 2: but It's one of those things you'll never ever forget.
Speaker 2: How could you forget it? It's a wonderful day, and
Speaker 2: I'm encouraged. Like Cribbage Mike did early in the program,
Speaker 2: get to CVG tomorrow for the welcome home ceremony. Try
Speaker 2: to get there about eight thirty the place we packed,
Speaker 2: and it would be just an absolutely wonderful shot of
Speaker 2: patriotism in the arm. Send chills down your spine and
Speaker 2: may even cause an allergy attack or two. Dan, I've
Speaker 2: seen those, I've experienced them. Anyway, Perfect timing for your
Speaker 2: seminar tonight. Empower Youoamerica dot org. It's a virtual class
Speaker 2: only log in from the convenience of your own home.
Speaker 2: Just click the register button at the bottom of the
Speaker 2: page there and there's two seminars. Dan's gonna kick it
Speaker 2: off by having what he has done regularly now since
Speaker 2: I think twenty fifteen, a discussion about well, the budget.
Speaker 2: You've been covering this for a long time. The results
Speaker 2: of our federal budget in twenty twenty four, Timing couldn't
Speaker 2: be better, Dan, I saw that we just passed a
Speaker 2: sad milestone. We now spend more on debt service for
Speaker 2: our national debt than we do on America's military.
Speaker 4: It's hard, it's hard to believe. Yeah, you know, this
Speaker 4: is a scary topic. It's perfect for Halloween. And I've
Speaker 4: been covering it for I think this is the seventh
Speaker 4: or eighth time I've spoken on it, and I just
Speaker 4: I just do it because it's one of those issues.
Speaker 4: And you watch the election, nobody's talking about it. Nobody,
Speaker 4: you know, it's not one of the four things that
Speaker 4: people are talking about that in actuality it may be,
Speaker 4: it may be the most important. And the Wall Street
Speaker 4: Journalist week had a quote that I thought was good
Speaker 4: to start off with, which is a deficit of this
Speaker 4: magnitude is unprecedented, and it's just hard to believe our
Speaker 4: country could be spending, you know, just spending their way
Speaker 4: to uh oblivity and to spend five trillion dollars to
Speaker 4: bring in five trillion dollars, but to spend seven trillion
Speaker 4: and add two trillion to our deficit, it's just hard
Speaker 4: to imagine.
Speaker 2: Yeah, the debt payments hit eight hundred and eighty two
Speaker 2: billion dollars this most recent and fiscal year was just
Speaker 2: closed out, which represents the court of the Treasury Department
Speaker 2: a thirty five percent jump in interest payments, eight billion
Speaker 2: dollars more than we spent on national defense. And the
Speaker 2: trajectory doesn't stop, it continues to go up.
Speaker 4: Yeah, and for those out there who want to know
Speaker 4: how much how much the federal government has to spend
Speaker 4: to borrow money last year, it was in fiscal year
Speaker 4: twenty four which just ended, they have to pay about
Speaker 4: three point three three percent for their debt and that
Speaker 4: went up about three quarters of a point and it's
Speaker 4: going to go up more next year. And yeah, we've
Speaker 4: just started. It's cost and it's more to service our
Speaker 4: debt and we're paying for defense. And I think I
Speaker 4: think back in back in the seventeen seventy six, I
Speaker 4: think the reason we started this government was to defend UH,
Speaker 4: to defend our people against UH, you know, and and
Speaker 4: that was the main thing. But now now our main
Speaker 4: thing seems to be servicing our debt. It's going to
Speaker 4: go up to about one point three trillion dollars next
Speaker 4: year to service the debt. And it's it's it's on
Speaker 4: a total path where you just kind of wonder where
Speaker 4: things are going to go because what has what happens
Speaker 4: is there's a term called crowding out, where that interest
Speaker 4: just crowds out anything else that you want to you
Speaker 4: know that you want to do, like all these plans
Speaker 4: that Trump and and and Harris have put forward in
Speaker 4: the In the talk tonight, which will be the first
Speaker 4: part of the class, I'll be I'll be talking about
Speaker 4: all those plans that Trump has and how much they
Speaker 4: cost and what what how he hopes to make some
Speaker 4: of that up in revenue. And uh and Kamala Harris too,
Speaker 4: and and I heard you talk about Lachlin. I've got
Speaker 4: a good story right up on top of an empower
Speaker 4: Youoamerica dot org about the Lachlan situation. And when I
Speaker 4: was doing my investigation, I actually came up with, I
Speaker 4: think the first time I've heard how much this migrant
Speaker 4: cost is really costing us. And these are two thousand
Speaker 4: and twenty three numbers the cost of the migrant crisis
Speaker 4: that's been studied pretty in depth. And I'll actually have
Speaker 4: a print out of every line on them of that
Speaker 4: tonight that people can download if they're interested in looking
Speaker 4: at it. Total federal expenditure sixty six billion, State in
Speaker 4: local expenditures one hundred and fifteen million. They get thirty
Speaker 4: billion in taxes, So it's about one hundred and fifty
Speaker 4: billion dollars between federal and state expenditures on the micro cost.
Speaker 2: That is just insanity, and that just keeps going up.
Speaker 2: And you talk, you are going to contrast Kama Harris
Speaker 2: what we know about her policies anyway, and the Trump
Speaker 2: policies because I keep reading, you know, there's been some
Speaker 2: newsworthy at least quasi legitimate outlets reporting that, well, Trump's
Speaker 2: policies are going to put us in debt further. And
Speaker 2: that's one of the criticisms I had about the Trump administration.
Speaker 2: He had an opportunity to maybe pair back spending and
Speaker 2: bring things under control, and yet you know, his the
Speaker 2: deficit went up, or the national debt went up sizably
Speaker 2: under the Trump administration, not nearly as much as the
Speaker 2: Biden administration. But we don't seem to have a party
Speaker 2: out there that's interested in curbing spending to the point
Speaker 2: where we bring about some sense of what reality.
Speaker 4: Yeah, and you know, like when I look at Trump's plan,
Speaker 4: that's the one one problem that just just kind of
Speaker 4: really surprises me about him, and that he said that,
Speaker 4: you know, it just doesn't matter to him really how
Speaker 4: much our debt is and how much he spends. And
Speaker 4: I guess that's one of the reasons I feel like
Speaker 4: I need to keep talking about this. Yes, I look
Speaker 4: at his kind of list of bullet points he wants
Speaker 4: to give away, and the taxes in overtime is a
Speaker 4: big one, that's two hundred billion. But this tax on
Speaker 4: tips thing is really interesting that both of them want
Speaker 4: to do because at face value, it's only thirty billion,
Speaker 4: but in one estimate I saw said it could get
Speaker 4: to be over one hundred billion, just because these workers.
Speaker 4: They're creative, Brian, as we know, and a worker will
Speaker 4: figure out a way to change the classification of salary
Speaker 4: into tips, and before we know it, there will be
Speaker 4: no tax paid on any of that revenue.
Speaker 3: I agree with you.
Speaker 2: And how many IRS workers would we need to go
Speaker 2: through every tipped worker to make sure that's being done
Speaker 2: appropriately and within the bounds of the income tax laws.
Speaker 3: Yeah.
Speaker 4: Now, what I don't have a classification on the amount
Speaker 4: is on Harris's kind of home care program that she's
Speaker 4: talking about. But I loved what Trump said at the
Speaker 4: Al Smith dinner the other night about her home care
Speaker 4: project when he said Hey, Kamala, you know, if you
Speaker 4: get elected, you know, I wish you well with this
Speaker 4: home care thing. My one suggestion is just keep uh
Speaker 4: keep him, keep keep Doug Empoff away from the nannies.
Speaker 3: Jeez, he can be humorous at times.
Speaker 4: Yeah, But for those of you who just kind of
Speaker 4: want a cribsheet of what's going on with your your government,
Speaker 4: join us tonight for the first uh twenty minutes or
Speaker 4: half hour I'll have like a nice handout you can
Speaker 4: take and and at least, if at least I'll have
Speaker 4: a few ideas on things that we could do to
Speaker 4: fix the situation, at least bring the budget into balance,
Speaker 4: ideas that are out there and uh, and things you
Speaker 4: can think about, including we'll talk about something we we
Speaker 4: talked about. I know you had on Rob Tuttle when
Speaker 4: we talked about a constitutional convention and you know, a
Speaker 4: few of the a few of the goods and a
Speaker 4: few of the bads of that.
Speaker 2: I understand Jack Edda and you sat down for his
Speaker 2: podcast and talk about this very topic the other day.
Speaker 4: Yeah, Yeah, it's it was always so great to talk
Speaker 4: to Jack, and I'm glad he's kind of a regular
Speaker 4: on your U on your show.
Speaker 3: Now, So am I now real quick?
Speaker 2: I have to ask one of the things that a
Speaker 2: lot of people I think across political spectrums are agreeing
Speaker 2: with that at least, if you're going to deport some
Speaker 2: of these illegal immigrants who in our country, you're going
Speaker 2: to at least need to deport the criminal element. And
Speaker 2: I don't think anybody can object to that. But even
Speaker 2: dealing with just the criminal element, the expense of going
Speaker 2: through deportation because they're entitled to a hearing, and some
Speaker 2: countries won't take back the folks that we want to deport.
Speaker 2: You can't just send them into a country that didn't
Speaker 2: come from. So there is a massive expense that goes
Speaker 2: along with this. Hiring thousands of new judges to process
Speaker 2: these cases that are in backlog like a decade. That
Speaker 2: alone represents a sizable increase. And of course you know
Speaker 2: they're all going to lawyer up with these NGOs. It's
Speaker 2: going to be a tough battle in each of these
Speaker 2: court proceedings. I suspect that's just one more cost of government,
Speaker 2: but it seems to be a necessary one. We're going
Speaker 2: to have to cut someplace dan in order to pay
Speaker 2: for what is really necessary and.
Speaker 4: When you look at you know, one of the we'll
Speaker 4: talk about as the Social Security and Medicare window tonight,
Speaker 4: and when you look at those costs continuing to go up.
Speaker 4: I think it was seven percent last year. You know,
Speaker 4: where where's the where's that money gonna come from? And uh,
Speaker 4: it's just uh, it's just kind of looking at this
Speaker 4: whole debt situation, it's just kind of a it's a
Speaker 4: Ponzi scheme. And and that's why you know, it's it's uh,
Speaker 4: it's so scary, but I want everybody to be aware
Speaker 4: of it because the results if we don't do something,
Speaker 4: or just more rampant inflation and like we've seen, which
Speaker 4: I know, I know scares everybody. And uh, we've got
Speaker 4: to you know, I've gotta gotta gotta lift our boots
Speaker 4: up and do something. After I talk about the debts
Speaker 4: to night, I've got a really interesting guy coming on
Speaker 4: the show. His name's David Boson. He's an investment Uh
Speaker 4: runs an investment firm in California. He's written this book
Speaker 4: called Full Time. I was interested in the book because
Speaker 4: you know, I am kind of uh on that retirement
Speaker 4: window and and just he just argues, uh, He's got
Speaker 4: an interesting argument where where he are argues that work
Speaker 4: really is the meaning of life. And he talks about
Speaker 4: the fact that we've got so many unhappy people because
Speaker 4: they're just not working very much, and the government, government
Speaker 4: isn't encouraging them to work, Churches, community leaders aren't encouraging
Speaker 4: them to work, and it's just creating a whole stream
Speaker 4: of problems which we know about from depression to anxiety
Speaker 4: to just thirty seven million people using antidepressants. And he
Speaker 4: creates this whole kind of God driven approach that God
Speaker 4: created us to work and that it's the single most
Speaker 4: important thing in our life, and that really is work balance.
Speaker 4: And I think it'll be an interesting, interesting guest to
Speaker 4: talk after I hopefully don't scare everybody off off the program.
Speaker 2: I hope not either. Yeah, work is its own reward.
Speaker 2: I'm a firm believer in that, you know, at least
Speaker 2: entitles you to the right to complain maybe about taxes
Speaker 2: or govern an intrusion, because you're actually paying the freight
Speaker 2: for that, and you have a right then to be
Speaker 2: a little bit more engaged politically, or at least some
Speaker 2: incentive be engaged a little more politically, just by virtue
Speaker 2: of work. One more thing before we part company, Dan
Speaker 2: Ragnold again, it's empower you America dot org register seven
Speaker 2: pms a star time for Dan.
Speaker 3: Tariffs.
Speaker 2: Where do you come down on tariff? Donald Trump said
Speaker 2: the other day in that economic summ and he goes
Speaker 2: he thinks tariff, the word tariff needs its own marketing agency,
Speaker 2: because he believes it's the greatest, you know word in
Speaker 2: the English language. He's going to embrace them wholeheartedly. He's
Speaker 2: going to, you know, put a one hundred two hundred,
Speaker 2: three hundred He went rambling on, yeah, two thousand percent
Speaker 2: tariff on any vehicles coming from Mexico that should have
Speaker 2: been made in America. And his whole ultimate point is, well,
Speaker 2: if I do this, then people will start building plants
Speaker 2: here because they won't be able to compete by making
Speaker 2: them in other countries. Many economists to the flip side
Speaker 2: say no, no, if you impose a tariff, then the
Speaker 2: rest of the world is going to do counter tariffs,
Speaker 2: and that'll reduce the demand for US goods abroad. Where
Speaker 2: you on this, Dan, just you know, I need to
Speaker 2: put you on the spot, but it's.
Speaker 4: Really important to have to put me on the spot.
Speaker 4: So I was in my first kind of gig out
Speaker 4: of out of school. I taught economics at at at
Speaker 4: one of the universities and loved doing it, and and
Speaker 4: and I learned a lot. And what I was, what
Speaker 4: I was always taught Brian was under no circumstance should
Speaker 4: you ever put tariffs on anything, because that will take
Speaker 4: away the you know that you know, we buy stuff
Speaker 4: that other people can make more efficiently. They buy stuff
Speaker 4: that we make more efficiently, And as soon as you
Speaker 4: impose a tariff, it puts an artificial constraint into that
Speaker 4: price mechanism, which you and I both know is so
Speaker 4: important for supplying demand. But Trump is just one of
Speaker 4: these guys who's strong enough with his whole way he
Speaker 4: can threaten people that, you know, maybe he can pull
Speaker 4: it off. But I sure hope that we don't see tariffs,
Speaker 4: you know, at the range she's talking And let's hope
Speaker 4: that's just all kind of a you know, kind of
Speaker 4: his way of of of getting you know, getting elected
Speaker 4: and doing that. But no, I don't want to terrify
Speaker 4: on every single product that's purchased everywhere.
Speaker 2: Well, speaking of artificial constrain and constraints, isn't that what
Speaker 2: makes us lack competitiveness in the world. We have so
Speaker 2: many constraints on the formation of business, regulation of business,
Speaker 2: how business are operated, osha EPA, regulation, mandates litigation. I mean,
Speaker 2: all of that doesn't exist in so many other countries
Speaker 2: in the world. And that's why manufacturers gravitate to places
Speaker 2: where it's like China, where they get basically free labor
Speaker 2: and you know, unfittered access to energy powered by coal plants,
Speaker 2: you know what I mean.
Speaker 4: Yeah, And if he can just reduce some of that
Speaker 4: deep state, all those regulations, wouldn't that just be a
Speaker 4: pleasant change?
Speaker 2: And wouldn't that provide funding for some of these other
Speaker 2: things we're talking about. Dan Reguano, tonight, empower Youoamerica dot org.
Speaker 2: Mark it down and tune in at seven register in advance. Dan,
Speaker 2: thank you for what you do each and every day
Speaker 2: with the empower You summinar. It's just a great, great
Speaker 2: series of learning opportunities for folks and what a wide
Speaker 2: variety of topics. It's been a wonderful thing promoting it
Speaker 2: and talking with you about it over the years.
Speaker 4: Thanks Brian. Great talking to you and your listeners today.
Speaker 2: It's been our collective pleasure my friends seven twenty right
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