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Speaker 1: And hello, how are you happy? Thursday? Today is the

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third day of July year of our lower twenty twenty five.

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My name is Tom Sullivan. We are, yep, getting ready

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for the fourth of July Independence Day holiday. But in

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the meantime a lot of things happening today, and one

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of them was the big beautiful bill. Geez, what a

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way to do business. So it passed the House right

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and then it went over to the Senate, and then

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they did an all nighter in the Senate for fifteen

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hours or reading the bill, and then they had to

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bring it passed there barely. But then they got it

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back to the to the House with the changes the

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Senate made, and it passed there after overnight. Jakeem Jeffries,

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the Democrat leader, spoke at from five am this morning

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until about one this afternoon Eastern time. I don't know

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why to delay it, but it was inevitable and it

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did pass. The vote to pass in the House today

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to eighteen in favor to fourteen against it. The two

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Republicans who voted against it Tom Massey of Kentucky no surprise,

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and Brian Fitzpatrick from Pennsylvania. The President will sign it

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tomorrow morning. He's going to have a signing ceremony at

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the White House. He's in Iowa this evening. It's kind

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of a patriotic rally, Rah rah rah, and so tomorrow

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morning he'll have a signing ceremony at the White House.

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The big question behind all of this is will it work.

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I told you the other day that, remember, there was

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trillions of dollars spent by the Biden administration and it

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led directly to inflation. But what happened with the Biden

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spending was that it went to people. You, me, and

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your neighbors and everybody else got money they did not

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have before. And so what did they do. They ran

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out to go buy things. Well, they swamped the retailers

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out there, and they had the supply chain could not

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keep up. And since they couldn't keep up, the prices

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of goods went up. So it was a whole combination

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of things that led to inflation. This isn't that. This

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is the government is going to be spending a whole

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lot more money, but they're going to be spending it

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on things like defense spending, and they're going to be

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spending money on billions of dollars for immigration enforcement, the

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wall and more border patrol and more ice. They're going

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to raise the debt ceiling. The states are going to

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have to chip in more money for the chips or

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for the snap benefits. I should say that. In other words,

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food stamps and the Medicaid reformed probably the most controversial

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part out of all of this, and I don't know

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if we're going to see that ever explained properly. There

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will be stories of people that, well, there'll be a

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lot of people that lose their Medicaid benefits. But the

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real question is Medicaid. When it started in nineteen sixty six,

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there were ten thousand people enrolled in it. It was

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designed for people in poverty. It was designed for single

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moms with children at home with dependents. But it has

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grown from ten thousand to one hundred million. One hundred

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million people live get their medical benefits from Medicaid, and

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it's a lot of people that are able to go

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to work, but are not going to work because they

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don't have to because they get everything given to them.

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And so this is like, for those of you that

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are old enough, Welfare reform. In the nineteen nineties, Bill

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Clinton signed it into law. Newt Gingrich was the speaker.

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And what it did was it said, you've got we'll

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give you welfare benefits, but you've got if you're able

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to go to work, you've got to go to work.

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And it led to a lot of people going to

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work and getting dignity and staying off of welfare. Finally,

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and it changed and lowered the cost of welfare dramatically.

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It was a huge success. Can that be repeated by

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having the work requirement for people that are on Medicaid?

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And I got a call a play for you. I

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don't know if I can get it today. If not,

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I'll get it as soon. But a guy called and

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he was all upset about everything, and he said, oh

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my gosh, there's going to be twelve million people are

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going to be cut from Medicaid. Yeah, there are twelve

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million people. What the people voted for was to cut

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back on government spending and especially people that are malingerers

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that are taking advantage of it. They could go get

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a job, they could go get health insurance, probably through

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a job. So there's another whole side to the story

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that's not being told. The media is going to bring

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you all the heartstring stories. People are going to have

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sad stories about I lost my benefits. Well, if you're

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able to go to work, go to work, we will

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not apply. They will not cut off low income, single family,

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single moms with children at home, nor the elderly. So

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it's there's a lot there to go through. Let me

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go through some of the provisions that I haven't seen

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the final final, nine sixty some pages. But it does

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provide the long promised tax incentives for no tax on tips,

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no tax on overtime. The way it will work though,

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is it will be a deduction. It'll be a deduction

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on your tax return, so first you don't get the

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benefit until you file your tax return. Instead of no

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tax on Social Security, there will be I believe it's

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a six thousand dollars credit that seniors will get and

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they can apply that basically against their Social Security income

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and no tax or sorry, you can deduct interest expense

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on car loans if the car is made in the USA.

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So essentially, it extends the Trump tax cutbill from twenty seventeen.

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If they did not pass this, all of our taxes

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would have gone up. It raises the child tax credit,

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it raises the as they call it, the salt deduction,

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is for state and local income tax deduction on the

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federal return from ten thousand to forty thousand. It will

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as we got in here, the Medicaid recipients will have

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to work eighty hours a month minimum, and there's going

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to be some copays for people on Medicaid. There will

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be a cap on student loan borrowing. There's a new

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I got to look into this tax tax free savings

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account for children. The idea is to put money into

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an account with your child's name on it so that

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when they grow up they have some money. I'll have

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to look into it for more details. And again interest

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payment deduction for car loans if the car was made

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in the USA. So that's all coming out of this

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bill that did pass today. A lot more obviously to find.

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Carl Rove was asked about this new bill and how

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the Republicans now that they've got it passed, now the

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big job is for them to go out and basically

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explain it to the public because right now the Fox

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newspoll I think I had fifty nine percent of the

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people were not in favor of this bill. I don't

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think anybody knew what was in the bill, but they

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were not in favor of it, and so they're going

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to have to go out and explain it.

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Speaker 2: To the voters. Well, I think you're absolutely right. Polling

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the focus has been on getting the bill passed, and

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it's an extraordinary achievement. To take this big a piece

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of legislation, with as many moving parts as it is

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as it has and get it past the House, get

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it past the Senate, send it back to the House,

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and get it passed again is remarkable. And let's not

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get ourselves. This required not only presidential leadership, but the

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Speaker of the House and the Senate majority leader have

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demonstrated key leadership as well.

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Speaker 1: But you're right, pass the bill. Check that off. But

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there are three other steps that need to be taken.

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Speaker 2: First of all, the president needs to lead the effort

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to go out and explain it. He has the biggest

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megaphone in America. He needs to deploy it on explaining

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why this is the right thing to do and what

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it's going to do for people. And that means he

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needs to go on the offense. For example, Democrats have

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been attacking and saying people are going to lose their

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Medicaid coverage. The president needs to go out and say

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that people are going to lose their coverage. Are the

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able bodied who refuse to work. They're going to be

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the illegal aliens, and they're going to be the people

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who don't belong on the system according to the laws

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that we have in the United States on the books.

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So if you're a Democrat and you're criticizing us, then

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you're defending people who are able bodied and refuse to work.

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You're defending having illegal aliens on our tab and you're

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in favor of allowing people who are today improperly on

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the roles to remain on the roles. If you want

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to defend that, Democrats, go ahead and do it. But

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most important, perhaps of all, is over under promise and

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over deliver. Remember the problem that Joe Biden had Biden

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Nomics is working, he said, when Americans didn't think it

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was working at all, And the administration and Republicans in

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Congress need to make certain they under promise and overdeliver.

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Say that this is going to take time to get

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to make its impact felt, but it's going to help

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strengthen our economy and control our spending. At this life sashink,

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it'll be a big impact on I think it'll have

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a huge impact on twenty twenty six because member has

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these changes, particularly the Medicaid changes come into effect, they're

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going to people are going to be losing their coverage, and.

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Speaker 1: The able bodied.

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Speaker 2: If think about an interesting study done of able bodied

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people on Medicaid, and you know what their number one

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activity was if they weren't working, It was watching television

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and number two was playing online games. And so we

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are going to the Republicans that better go on the

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offense and say we are doing what you told us

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to do, which is to make cutain that this program

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served the vulnerable among us. Medicaid was meant for poor seniors,

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for children and poor families, and for the disabled, and

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we should not be paying for health care for people

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who are able bodied and can work and are refusing

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to work. That this is why they got to go

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on the offense. But yeah, it's going to be a

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big impact, and the work is just beginning that there's

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going to be always a tendency to say we got

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the bill passed, Oh let's all take the time off

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and god, we got it done.

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Speaker 1: That's the requirement that you then go to work. So

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speaking to Karl Rove, he wrote an op ed for

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the Wall Street Journal he does every Thursday. Today's addition

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is the Declaration of Independence made America great. The nation's

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two hundred and fiftieth anniversary is a chance to relearn

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our founding principles. It's in the Wall Street Journal today,

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and speaking of the two hundred and fiftieth birthday, which

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is a year from tomorrow, it was July fourth, seventeen

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seventy six that obviously the declaration was signed. But this evening,

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that's why the President is going to Des Moines, iow

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where they're going to kick off basically one year of

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celebrating the leading up to the two hundred and fiftieth

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anniversary of the Declaration of Independence. And Carl wrote in

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this op ed in the Journal, he says, it seems

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interesting that we don't focus on the first shots fired

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at Lexington and Concord, or the British surrender at Yorktown,

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or the signing of the Peace Treaty. Instead, our attention

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has always been the Declaration of Independence. And the reason,

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Carl Wrights is was it was the seminal event in

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the creation of the United States and world changing too,

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so well worth reading if you have a chance to

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grab the opinion from Karl Rove in the Wall Street

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Journal Today. Something much less serious, more lighthearted about the

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fourth of July Independence Day is it is the annual

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hot dog getting contest that Nathan's famous over in Coney

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Island neighborhood of Brooklyn, and this has been going for years.

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To my amazement and surprise, it's that they actually broadcast

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the hot dog getting championship on ESPN. I watched it

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one I cannot unwatch it. It is one of the

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grossest things that you will ever see as they shove

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their hot dogs down their throats. There was a guy

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that won it for years and years I forget for

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Kobeyashi was his name, Japanese guy, and he finally was

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dethroned by a guy named Joey Chestnut. So we talked

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you about Harry Inton all the time, the statistician guy

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over at CNN, and for some reason he wanted to

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go over to Nathan's and talk to George Shay, who

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is the founder and the owner of the Major League

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eating sport. I guess it's what you call it. Here's Harry.

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Speaker 3: I'm always stuck in the studio and so I've decided,

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you know, I want to go out in the field.

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I want to actually enjoy America. So this past Tuesday,

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I decided to go out to Coney Island, where of course,

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the hot Dog contest is held, and decided to do

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some investigations on how you can in fact be a

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champion hot dog eater. And let's take a listen. Oh gosh,

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if I were picking the absolute best physique for a

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competitive eater, I would say your height six to two

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maybe six three, big shoulders, big frame, but not tight

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ab you don't want to be ripped in one expansion, Well,

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then I'm in perfect condition.

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Speaker 1: Yeah. So if you really want to see something terrible,

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tune into the hot Dog Getting Championship tomorrow over at Nathan's.

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It'll be on ESPN. And it's pretty gross to watch.

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The guy, this Joey Chestnuts, makes a very good living.

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He goes around the world to eating championships. I don't

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know what else they eat, but this George Shay started

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a major league eating league, and Joey Chestnut is making

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a very good living shoving hot dogs down his throat

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and other things. Apparently, And speaking of CNN, did you

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see where they are there? In a mess. Their audience

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ratings are terrible. They actually are now losing in many

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different statistics to MSNBC, but own their ownership is keeps changing,

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and they're part of Paramount, and Paramount is trying they're

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the owners of CBS and they're trying to sell Paramount

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to Larry Ellison's son, the guy who owns Oracle. So

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they're billionaires. And along the way, they edited an interview

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they did for sixty minutes with Kamala Harris, and that edit.

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If you look at the edit of what she said,

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it was a word sound in the classic Kamala Harris version,

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and so CBS clipped the original version of one of

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her answers and made it sound it was still terrible,

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but made it sound like she was a little more coherent.

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And because of that, Donald Trump sued them for billions

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of dollars. Well that we just got word that the

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CBS or Paramount is going to pay Donald Trump sixteen

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million dollars. I think it goes to his library, but

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he's going to get sixteen million dollars, which is a

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lot of money. Not for Paramount. It's just a cost

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of doing business for them. But the media in general

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is aghast because of the fact that the media should

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be a free media and should be able to report good, bad,

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and indifferent on any politician out there. So on one hand,

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I get the con is that you've got a CBS

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who appeared to try and interfere with the presidential election

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by cleaning up an answer that Kamala Harris had given,

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and they were interfering in the election. I think it's

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pretty clear, and I think that there's a lot of

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people at CBS, including the executive producer of sixty Minutes

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who resigned recently and others have stepped down. I think

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they truly are trying. They were trying to throw the

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election in favor of Kamala Harris. So that's I'm sorry,

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that is way wrong, and you can't have the media

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doing something like that. We have to trust that the

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media is giving us the information, but we all know

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they're biased. And this is where I have a problem

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with this whole payment thing, because I wouldn't want the

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next Democrat president to file a lawsuit against Fox News

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or the Wall Street Journal because they said something about

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the then president. It's a dangerous area. I think a

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lot of the people at CBS are upset because it

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looked like, and I'm not a lawyer in this case,

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but it looked like this was a slam dune for

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CBS to win. But Donald Trump has been successful. Now

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this is the second time you went after ABC, and

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the ABC paid him money millions because of some things

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that George Stefanopolis had said. So the media has to

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try to be accurate. They're not going to be accurate

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one hundred percent of the time, but they got to

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try harder than where they are right now. So yesterday,

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I believe it was Christinoam, the head of the DHS,

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came out and so she wants to sue. She wants

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to prosecute CNN for doing a story about a new

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app that is out there that is Ice Alert, And

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what somebody came up with was a map that you

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can report if you see ice in your neighborhood they're

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doing a raid at some particular address or business. You

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can go on this app and put in the information

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that ice is at the corner of X and Y,

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and everybody will be alerted and all the people that

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are illegally in the area will scatter. And so she's

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very upset about this, But again, the government suing the

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media is a tough one because this was a story

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about an app. Wasn't a CBS app. CNN did the story,

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and I think it's a legitimate story. My favorite traffic

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app is ways Waze, and the way Ways works is

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it's crowdsourcing. And if you are driving down the road

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and you see a police officer sitting behind a tree

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with radar, you can go on the app and push

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a little button that says police are at this location,

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so that other people coming down the road won't be

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caught in the radar. It has again where traffic accidents are.

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It's all crowdsourced. You tell the app what you see

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and everybody else benefits from it. That's exactly what this

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app is about, alerting where ICE is showing up. Does

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it make it tougher on ice, Yes. Does it make

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it tougher on the traffic cop in your neighborhood, Yes,

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But I don't think it's illegal. I don't know what

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she wants to do, but she wants to prosecute CNN.

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Over all of that, a couple of trials who got

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to wrap up. One of them is the Didty trial

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and Joey Jackson. I know Joey. I've known him for

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a number of years. He's a great guy, and he's

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a great defense lawyer. And he was asked earlier today

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about the fact that Sean Ditty Combs has been held

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in the detention center. His sentencing isn't until mid October.

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The judge would not let him out even though he

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was acquitted on three of the five charges. You're Joey

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Jackson talking about the case of Diddy being held in jail.

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Speaker 4: Not surprised, and I would certainly concur with that thinking

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because the judge could have very well done that. Right,

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There's a couple of things that judge could consider. Let's

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talk about environment the defense perspective. There's two real things.

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Number one is is he a flight risk? Do you

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really believe that he would be a flight risk pending sentence, right,

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especially when he was acquitted of a charge that can

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keep him in jail for life, knowing the consequences of

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trying to flee from the court's jurisdiction. I think not.

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Number two, is he a danger to the community? You know, look,

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there was conduct, certainly that was raised during the trial.

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The tate was awful as it relates to the beating

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of Cassie Ventura. But I could you can argue what

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is the danger that he poses? So on those from

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that scenario, I don't see why the judge would keep

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him in if there are and the lawses there's any

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condition or combination of conditions that could ensure his return

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to court, and there certainly are restricting your passport, limiting

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where you can travel. So I get it from a

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prosecution's perspective. However, Listen, the judge certainly could have concluded

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he has certainly exposure in terms of him being sentenced,

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and there's an argument prosecutors say it's four years, you know,

359
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the defense says it's two. They'll make the argument in

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terms of what he's elgib before. But I for judges

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thinking about giving him two years, you keep him in.

362
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He's being sent in some time in October. Presumably he'll

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accrue more time and he'll get credit for the ten

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months he's in, he serves you know, a number of

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other months and he's out, So that could have been

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the judges thinking as well. But the judge certainly would

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have been well within his discretion yesterday to release. So

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I think without question. In terms of the past jail time,

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you're always going to get credit for time you've already served,

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and he's served to ten months, and that'll be the calculus.

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I think there'll be certainly an argument between prosecutors who

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want more time. You know, what happens in federal court

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is the judge is allowed to consider what's called quote

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unquote relevant conduct. So even conduct for which you're not charged,

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but conduct which is you know, somewhat bad, right, the

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judge could evaluate that into the mix to give you

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a higher sentence. So there'll be an argument from prosecutors

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as to all this relevant conduct and all the things

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we heard about what he did during the trial, and

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how the judge should be more severe with him. And

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from a defense perspective, you'll hear about the fact that

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this is a first defense. You'll hear about the fact

383
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that he was acquitted of the rico charge, that is,

384
00:25:04,000 --> 00:25:06,759
the racketeering that could have kept him in jail for life.

385
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You'll hear about the fact that the jury did not

386
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buy this sex traffick gang, which would have carried a

387
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minimum of fifteen years. And on that basis, judge, we

388
00:25:14,079 --> 00:25:16,119
should be here to sentence him for which the jury,

389
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which a system we respect, really found him guilty of.

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And if you do that, the calculation would be more

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along the lines of two years as we look at

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the counts there, and so it's always up the discretion

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of a judge. But no matter what anybody says, but

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I think the calculated guideline range, which is from twenty

395
00:25:32,559 --> 00:25:35,559
one months to twenty seven months, is reasonable and accurate,

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and I think certainly that's something that the judge could

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adhere to.

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Speaker 1: Then back to Idaho, where the idea that Brian Koberger

399
00:25:44,839 --> 00:25:48,880
has pled guilty to murdering four college students back in

400
00:25:49,079 --> 00:25:54,400
November of twenty twenty two, it's still not sitting well

401
00:25:54,440 --> 00:25:57,200
at all, especially with the father of Kaylee gunzoalve Is.

402
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Here's her father, Steve Gunzalez, still very upset.

403
00:26:02,119 --> 00:26:05,039
Speaker 5: It wasn't our deal. He never negotiated with us. We

404
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were never given any terms whatsoever. He negotiated with the devil.

405
00:26:08,720 --> 00:26:10,839
So he asked to sleep with the devil, and that's

406
00:26:10,880 --> 00:26:13,319
his deal. I don't want anything to do with it.

407
00:26:14,119 --> 00:26:16,359
But he's not gonna tenability and Pumpson didn't force him

408
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to take accountability. He didn't even negotiate it. That's terrible.

409
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Speaker 1: You don't think four life sentences is justice?

410
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Speaker 5: No, of course, not his daycare, prison, his daycare.

411
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Speaker 1: Why do you want is to go to trial because.

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Speaker 5: Then my peers, this community will decide that he's guilty.

413
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We could take it out of Frickin Thompson's hands. One

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man shouldn't decide what four souls are worth.

415
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Speaker 6: We know from a letter that the prosecutors sent to

416
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members of the victims' families that the defense just last

417
00:26:46,559 --> 00:26:49,319
week reached out and did ask for a plea deal.

418
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We know that that came after Judge Hitler determined that

419
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the continuance in the case of delay was not warranted

420
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and had also limited what defenses Brian Coberger's attorneys could

421
00:27:01,480 --> 00:27:04,599
put up, including in the past about an alibi that

422
00:27:04,880 --> 00:27:07,319
was not really an alibi as many appointed to and

423
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also that there were alternate perpetrators, and he said that

424
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they had not met the legal threshold. So the defense

425
00:27:14,279 --> 00:27:17,000
reaches out to the prosecution, and we do see that

426
00:27:17,039 --> 00:27:21,240
Steve Gonsalves and also the father of Xana Kernodle, has

427
00:27:21,279 --> 00:27:23,279
come out publicly and said they are not in support

428
00:27:23,319 --> 00:27:26,119
of this deal. They wanted answers. They wanted the potential

429
00:27:26,160 --> 00:27:28,599
for the death penalty with a conviction of trial, and

430
00:27:29,000 --> 00:27:31,079
I think what we're seeing is there has been either

431
00:27:31,160 --> 00:27:37,079
a lack of communication, a miscommunication, or some combination over

432
00:27:37,119 --> 00:27:40,720
the history of this case, and the prosecution didn't meet

433
00:27:40,799 --> 00:27:43,720
the requirements or the demands of some of the families.

434
00:27:44,839 --> 00:27:46,960
Your guest is as good as mine, but we do

435
00:27:47,079 --> 00:27:49,960
know it's sentencing. Not only are the families given the

436
00:27:49,960 --> 00:27:53,319
opportunity for victim impact statements, but the judge may have

437
00:27:53,599 --> 00:27:56,640
some probing questions for Brian Koberger. It is possible that

438
00:27:57,000 --> 00:28:00,559
he will need to answer those things under oath once again,

439
00:28:00,759 --> 00:28:03,920
and I think Brank cooperg also will be given an

440
00:28:03,920 --> 00:28:05,720
opportunity to make a statement if he chooses.

441
00:28:05,759 --> 00:28:10,119
Speaker 1: Now to the economy, we got our June jobs report today,

442
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usually the first Friday of the month, but tomorrow is

443
00:28:12,880 --> 00:28:16,000
a holiday, so the numbers came out today. We told

444
00:28:16,039 --> 00:28:20,440
you yesterday that ADP they came up with a private

445
00:28:21,839 --> 00:28:25,119
employment number and they said that thirty three thousand jobs

446
00:28:25,160 --> 00:28:29,680
were lost last month. Sometimes sometimes ADP is just way

447
00:28:29,680 --> 00:28:32,519
off from what the government comes up with, and there's

448
00:28:32,559 --> 00:28:35,440
no question it was way off. So people were thinking

449
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that the jobs report for the month of June that

450
00:28:37,440 --> 00:28:40,359
came out today was not going to be good. In fact,

451
00:28:40,359 --> 00:28:44,359
it would be very weak, and instead it turned out

452
00:28:44,440 --> 00:28:49,559
to be way above what economists had been expecting. They

453
00:28:49,559 --> 00:28:52,839
were looking again. That print yesterday from ADP was a

454
00:28:52,880 --> 00:28:58,599
minus thirty three thousand, and a lot of economists thought

455
00:28:58,680 --> 00:29:02,039
that the jobs would be somewhere around one hundred and

456
00:29:02,119 --> 00:29:06,279
six thousand, was the consensus of a large group of economists.

457
00:29:06,960 --> 00:29:09,160
It wasn't. It was much better than that. It was

458
00:29:09,200 --> 00:29:14,720
one hundred and forty seven thousand. Payrolls were added last month.

459
00:29:15,079 --> 00:29:20,160
The unemployment rate dropped to four point one percent. There

460
00:29:20,240 --> 00:29:23,680
was only one economist who predicted a higher number of

461
00:29:23,720 --> 00:29:27,279
the seventy nine that are polled or every month by Bloomberg.

462
00:29:28,039 --> 00:29:30,839
That was a guy from Scotia Bank. But everybody else

463
00:29:31,200 --> 00:29:33,160
thought it was going to be a very weak report.

464
00:29:34,079 --> 00:29:38,559
So they went back and revised April up to one

465
00:29:38,640 --> 00:29:42,720
hundred and fifty eight thousand. They went back and revised

466
00:29:42,799 --> 00:29:47,599
May up to one hundred and forty four thousand, just

467
00:29:47,640 --> 00:29:50,160
the opposite. During the Biden years, they were always revising

468
00:29:50,200 --> 00:29:53,519
him lower. So the unemployment rate dropped from four point

469
00:29:53,519 --> 00:29:57,240
two down to four point one. Expectation was it was

470
00:29:57,279 --> 00:29:59,240
going to go up to four point three. So all

471
00:29:59,279 --> 00:30:04,640
of this, all of this is a much stronger jobs

472
00:30:04,680 --> 00:30:08,279
report than had been expected. Go through some of the numbers.

473
00:30:08,359 --> 00:30:12,920
Unemployment rate for black six point eight percent. That's the

474
00:30:13,119 --> 00:30:19,599
highest unemployment rate for African Americans in four years. Adult

475
00:30:19,640 --> 00:30:25,039
women three point six, Whites three point six teenagers fourteen

476
00:30:25,160 --> 00:30:30,039
point four, Asian three point five, Hispanics four point eight.

477
00:30:30,759 --> 00:30:34,279
Most of those did not show much of a change.

478
00:30:34,880 --> 00:30:37,920
The drop in the unemployment rate was the result of

479
00:30:38,079 --> 00:30:44,079
ninety three thousand increase in employed workers. People went looking

480
00:30:44,119 --> 00:30:46,720
for jobs and they got them, to the tune of

481
00:30:46,799 --> 00:30:51,599
ninety three thousand. It offset a decline in the civilian

482
00:30:51,680 --> 00:30:56,440
labor force to one hundred seventy thousand, down from one

483
00:30:56,519 --> 00:31:02,759
hundred seventy three. The number of unemployed people seven point

484
00:31:03,039 --> 00:31:10,319
two million down to seven point one million. Labor force

485
00:31:10,400 --> 00:31:14,640
participation rate sixty two point three, that's the lowest in

486
00:31:14,720 --> 00:31:19,839
two years. So people percentage of the population, everybody from

487
00:31:19,880 --> 00:31:23,440
grandma down to a newborn baby, sixty two point three

488
00:31:23,480 --> 00:31:26,640
percent of the population is working. That's the lowest we've

489
00:31:26,680 --> 00:31:32,160
seen in two years. Good news for the inflation panicking.

490
00:31:32,240 --> 00:31:37,759
FED average hourly earnings over the year three point seven percent,

491
00:31:38,640 --> 00:31:42,720
so you're making a pay raises of three point seven percent.

492
00:31:42,839 --> 00:31:48,039
Inflation is below that, down around the low threes, so

493
00:31:48,079 --> 00:31:52,279
you're making more than the inflation rate. Let's see what

494
00:31:52,319 --> 00:31:55,680
else do we have in here. Government employment went up

495
00:31:55,720 --> 00:32:01,000
by seventy three thousand. That was the biggest of any sector.

496
00:32:01,519 --> 00:32:06,119
Government employment up seventy three thousand. Forty seven thousand of

497
00:32:06,160 --> 00:32:12,559
it was from state employment. Healthcare added thirty nine thousand jobs,

498
00:32:12,599 --> 00:32:18,279
Social service employment up nineteen thousand. Otherwise, most of the

499
00:32:18,319 --> 00:32:24,279
other major industries showed very slight changes at all. I'm

500
00:32:24,319 --> 00:32:29,759
talking mining, oil and gas, construction, manufacturing, not much going

501
00:32:29,799 --> 00:32:34,200
on with any of that. So overall, it was a

502
00:32:34,359 --> 00:32:39,920
decent to good report. That means that the FED is

503
00:32:39,960 --> 00:32:42,839
not going to go lowering interest rates anytime soon, because

504
00:32:42,880 --> 00:32:46,920
if you've got a strong labor market, they're not going

505
00:32:46,960 --> 00:32:50,559
to lower interest rates. So that'll make the President even

506
00:32:50,559 --> 00:32:53,599
more unhappy with the Fed. But that's what we got today.

507
00:32:53,640 --> 00:32:56,039
As far as the market, it was a short trading

508
00:32:56,079 --> 00:33:00,039
session today, there will be no trading session tomorrow. The

509
00:33:00,160 --> 00:33:04,319
Dow liked all of this. The Dow up three hundred

510
00:33:04,359 --> 00:33:07,799
and forty four to forty four thy eight twenty eight

511
00:33:08,440 --> 00:33:12,279
s and p up fifty one nasdak up two hundred

512
00:33:12,319 --> 00:33:16,720
and seven. Goldfell twenty three dollars down to thirty three

513
00:33:16,880 --> 00:33:21,559
thirty six, and oil prices down just slightly sixty seven

514
00:33:21,640 --> 00:33:25,759
dollars for one barrel of oil. So that's it for today.

515
00:33:26,480 --> 00:33:31,319
Tomorrow Independence Day, have a wonderful long weekend, and we'll

516
00:33:31,319 --> 00:33:32,680
see you back here on Monday.