The Charlie Kirk Show - The Furry of it All?

Episode Date: November 17, 2025

Was the Butler shooting another case of violent transgender radicalism? The show reacts to long-overdue revelations from the life of Thomas Crooks and the growing issue of leftist violence. National E...conomic Council director Kevin Hassett makes the case for America turning the corner on inflation, as the Trump administration continues to pursue a second blue-collar boom. Watch every episode ad-free on members.charliekirk.com!    Get new merch at charliekirkstore.com!Support the show: http://www.charliekirk.com/supportSee omnystudio.com/listener for privacy information.

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Starting point is 00:00:00 My name is Charlie Kirk. I run the largest pro-American student organization in the country fighting for the future of our republic. My call is to fight evil and to proclaim truth. If the most important thing for you is just feeling good, you're going to end up miserable. But if the most important thing is doing good, you will end up purposeful. College is a scam, everybody. You've got to stop sending your kids to college. You should get married as young as possible and have as much.
Starting point is 00:00:30 many kids as possible. Go start a turning point USA College Chapter. Go start a turning point you would say high school chapter. Go find out how your church can get involved. Sign up and become an activist. I gave my life to the Lord in fifth grade. Most important decision I ever made in my life and I encourage you to do the same. Here I am.
Starting point is 00:00:46 Lord, use me. Buckle up, everybody. Here we go. The Charlie Kirk Show is proudly sponsored by Preserve Gold. Leading gold and silver experts and the only precious metals company I recommend to my family, friends, and viewers. All right. Welcome to The Charlie Kirk Show. Happy Monday. I'm Andrew Colvin, executive producer of this fine show. Joined as always. Well, not as always. You've been a little hit and miss lately. As often. You've been a little bit. Join as often. As often as humanly possible, that would be Blake Neff, our not-so-secret weapon.
Starting point is 00:01:26 And co-host, here we are now, just, you know, a huge breaking story this morning, if you are a fan of the Charlie Kirk show, because it ties in. And that is, of course, a new report from New York Post. It would be Miranda Devine. She's actually going to be joining us tomorrow to discuss this in more detail. But breaking, new account linked to Thomas Matthew Crooks shows a furry fetish. And transgender ideology interest, at least, referred to himself as they, them. And obviously, Thomas Matthew Crooks is the attempted assassin of President Trump in Butler, Pennsylvania. We were told no digital trail whatsoever. He's the only person under 30 entirety of America who had nothing about him online. But now we're finding out that there is more to it. Now, this corresponds certainly with some of the reporting that Tucker Carlson has recently done,
Starting point is 00:02:25 although this they, them, and furry fetish is new. And I think why this is so eye-raising is simply because of what happened to Charlie. The alleged assassin of the monster who killed Charlie also had a furry fetish. Allegedly, allegedly, and had a boyfriend that was trans. There certainly seems to be some of the similar. ideologies that are circulating between the two instances. Yeah, well, let's lay it out here. So last week, Tucker released a video, which just dived into the Thomas Crook's case.
Starting point is 00:03:06 As you guys probably remember, the FBI began looking into it and essentially said, there's no manifesto. We don't have an obvious motive for what this was. And he seems to have very little online trail. And they kind of left it there. There's been repeated efforts by Congress to get more information. It hasn't really led to many places. and so what Tucker was able to do is they found
Starting point is 00:03:28 they kind of did standard forensic work it wasn't a leak they got a private investigator and he used tools that they had they knew one of his email addresses and then they found accounts linked to that email address and then they were able to use internet archive pages and a few other things and they found some traces of his online presence
Starting point is 00:03:45 certainly not all of it. They found traces in 19 different profiles. The main thing they had though was... 19 so that but I mean I'm not saying that they were extensive footprints in any of these but to find 19 But the main thing they just had was just YouTube comments, which is a pretty low tier of internet engagement. So he had the internet comments, which showed he was making threats. They signaled that when he was pretty young, this is all, this ends in 2020 when he's 16 years old. And some of it's earlier than that.
Starting point is 00:04:12 But he was saying pretty violent rhetoric, threatening rhetoric, actually against immigrants and stuff. So the FBI had framed it, oh, he might have kind of been right wing motivated by anti-immigrant stuff. what they found was he'd started to turn around COVID where he seemed to actually be very against Trump's handling of COVID. He seemed to be extremely angry about people who wouldn't mask up or people who wouldn't like follow lockdowns or so it seemed. It's not totally clear. But he was suddenly changing ideologically, which is of course really annoying because then the trail goes cold. Now what happened there? We're not sure.
Starting point is 00:04:50 It could be he started registering for new accounts with a new email we don't know of. There's sites you can use like 10 minute mail to sign up for websites with a throwaway email that no one will ever link to you. There's a lot of stuff that you can do. Now, today we have the New York Post, which essentially did the same thing Tucker did. But with the added caveat that they found his deviant art account, do you know what deviant art is? I do know what deviant art is out there on in the, in the, in the advant art account. the audience send us your thoughts freedom and charlie currant so but here's here's here's let me before we get to that point right there there is a there is a an issue here so because in july 13th
Starting point is 00:05:34 24 FBI director chris ray told congress that the bureau had found nothing in crook's online history okay that pointed to motive or political ideology a week later raised deputy paul abate and i'm reading for miranda's report here paul abate told Congress that comments posted on one of Crook's social media accounts appeared to reflect anti-Semitic and anti-immigration themes to espouse political violence. But here's the problem. This left out a huge chunk of the timeline, right, where it seems to indicate a pivot from what you would consider, I guess,
Starting point is 00:06:12 more right-leaning ideology, I guess because of the immigration stuff, to anti-Trump rhetoric, anti-government rhetoric. So it was an omission. It left an entire section out from January to August 2020 when he did an ideological backflip and went from rabidly pro-Trump to rabidly anti-Trump. And then he went dark seemingly never to post again. Now that's a huge, huge question. Yeah.
Starting point is 00:06:41 Now, like in August 2020, one of his last things that we had was, in my opinion, the only way to fight the Gov is with terrorism style attacks sneak a bomb into an essential building and set it off before anyone sees you track down any important people politicians military leaders etc and try to assassinate them he said that and he it seems you know the truth is a lot of people who become violent assassins or terrorists often are all over the map and that's why it's so frustrating it goes cold in 2020 because 16 to 20 if you're already an unstable guy is going to be an absolute rocket ship of potential ideological changes.
Starting point is 00:07:21 I know someone, there was a guy I knew in high school, not even an extremist, I shouldn't say he was not a violent guy, but I knew a guy who, when he was a sophomore in high school, he was an Ayn Rand fan, objectivist, and then by the time I was,
Starting point is 00:07:33 he was a freshman in college, he was a full, like, Lenin did nothing wrong communist. Wow. And then for a while, his ideology was whatever gets us to space fastest. And last time I checked he was a MAGA supporter. So some people just whip
Starting point is 00:07:47 all over the place when they're young adults and obviously this guy was very unstable to your point so on july 20th 20 2019 he said the literal the trump is the literal definition of patriotism yes so that's 2019 and then uh so but by early 2020 crooks is he had flipped 180 became very critical of trump fox news and republican complaints about mail and voting so so so you He said, keep in mind the only reason we know about any of this, this was a comment in January 23rd, 2020. So from, so this is from, what I say, July 20th, 2019 to January 23rd, 2020. So that's basically six months. And he starts going after President Trump calling him Trump's stupidity.
Starting point is 00:08:39 So that's a six month window. Yeah. People swerve. I mean, it was COVID, of course. That drove people nuts. But then, yeah. So the thing we specifically have. And then he describes, by the way, he described Trump as racist.
Starting point is 00:08:49 Yeah, well, I know, but that's interesting. He went from anti-immigrant screeds about killing immigrants to describing Trump as racist. But anyway, what we have from the New York Post this morning, in addition to that, which they kind of reaffirmed what was on Tucker's segment, is they found the deviant art account. And they say, and I'm very frustrated with this because they say he appears to have been interested in, quote, furries and exploring gender identity. First, apparently he used the pronouns they, they, them, as his default on deviant art. And also, they say, uh, had an obsession with scantily clad cartoon characters that had muscle bound male bodies and female heads. And so that's, that's like a subgenre. There's a lot of subgenres of it.
Starting point is 00:09:35 And I'm annoyed because, okay, they say that. And you'd want to know how much of there is that? Because if they look at one, that's different from if they look at 100 or 1,000 or 10,000. And, you know, it might be sort of disturbing, so you'd want to maybe censor parts of it for normal people. But I suspect a lot of people are going to want to know what the heck are we talking about here. Because as we'll get into in the next segment, if he was really deep down that rabbit hole, he's going down a rabbit hole. A lot of other people who eventually become violent in the last couple of years have gone down. Well, and that's exactly it.
Starting point is 00:10:08 I mean, the trans or gender confused community may be the most terrorist-prone. terrorism-prone community in the country. It's totally possible. I don't have the exact steps, but, man, there's a lot of anecdotal evidence. Hey, Andrew Colvette here. Do you want to own a home? The time to act is now. For the first time in years, buyers finally have the upper hand.
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Starting point is 00:10:59 Reach out today to get approved for mortgage financing with our dear, dear friends, Andrew and Todd. They are godly men and good men. I trust them. Just like Charlie did. Hear him talk about Andrew and Todd and Todd in his own words. Go to Andrew and Todd.com or call AAA, AAA-1172. These are the guys that I trust.
Starting point is 00:11:17 With 40 years of experience, they really are the experts, and they make it easy because they keep everything in-house. Call AAA-Tripple-8-1-172 or go to Andrewandthodd.com. That is Andrew and Todd.com. So here's the deal, Blake. I mean, and Benny did a good job of putting these together, and you could add to his list, the Brett Kavanaugh potential assassin. So you got Charlie Kirk's assassin, Tyler Robinson,
Starting point is 00:11:43 had a furry obsession and lived with transgender boyfriend. Okay, there's one. It's the alleged assassin there. Annunciation Catholic Church shooter identified as trans. Nashville Christian shooter identified as trans. It was a female to male. Lakewood Church shooter identified as trans. Colorado Spring Shooter identified as non-binary.
Starting point is 00:12:03 Denver shooter identified as trans. Aberdeen shooter identified as trans. Iowa high school shooter trans activist. So you've got anunciation is Robin Westminster. Nashville, Audrey Hale. So these are some of these famous names. You had the Brett Kavanaugh attempted assassin, went by Sophie Raska. Yeah.
Starting point is 00:12:27 And formerly Nicholas. That's happened after the attack, I believe, correct? I'm not sure on the timing of that. I think on that one. Daniel will find out for us here. I mean, they were probably a little odd. I mean, I was going to say, you know, but what is really disconcerting here is that it seems to be something where you, you know, have unstable people that get into an ideology that basically unmoors them from reality and what
Starting point is 00:12:53 I believe happens now I'm not a psychologist but it seems to fit that when you become unmoored from your physical god-given attributes or believe that you can become disassociated with them in some way that you become unmoored from morality good and evil right and wrong these binaries that bind humanity and societies together and if you have an unstable proclivity. then guess what's going to happen? You're going to be tapped into a whole ideology that basically says up is not up, down is not down, right is not wrong.
Starting point is 00:13:24 It's potentially a few things. And we should caveat, of course. It's all like, it's kind of this wave of them is pretty new. It's emerging. The transgenderism wave in general is pretty recent. It exploded really just in the past 10 years, and it's among young people. So you're looking,
Starting point is 00:13:38 we're really just having people aging into their late teens, early 20s, who were really blasted by this psychological, contagion when they were you know when yeah the social contagion when they were in middle school age you know early high school age now these people are aging into where they're old enough they're autonomous enough to really potentially do things and it's as you say it's like there's a bit of the denial of reality i think another thing is if you're if you've been exposed to these communities you know they can be very out they're very unhinged they're very indulging of like extreme wild rhetoric. So if you hear, for example, I saw when people were reacting to Charlie's
Starting point is 00:14:22 death, I routinely saw people with LGBT flag, trans flags, be like, Charlie Kirk wanted me dead. Charlie Kirk wanted everyone like me dead. They really indulge a lot of that hysterical rhetoric. So there's an entire sub-community of people who are not mentally well in the first place that is also constantly feeding them. There are people who want to commit genocide against you. there are people who specifically want to kill you they are a threat to you and it's like you an unstable person should think that this person is a full genocidal Nazi and will like kill you if you don't do something about it so it's feeding unstable people the justification for extreme acts of violence yeah a thousand percent agree with that and you put on top of that Blake a lot of drug use whether that's simple things like vaping THC all the time or harder drugs or or the hormone or the hormonal replacement drugs or testosterone replacement. Yeah, if you read, so again this is background, but if you look into
Starting point is 00:15:19 someone's been posting, claims he's been getting like Discord messages and such that he was in the Discord group that Charlie's alleged shooter was in and he's been saying that his boyfriend was like on tons of drugs all of the time. LSD?
Starting point is 00:15:36 Yeah, really heavy stuff and you know, it's all speculative how much that actually affected everyone else, but it's just there's a lot of I mean just think of what we're doing you're taking people who are unwell pumping them potentially full of hormones
Starting point is 00:15:50 pumping them full of other drugs none of these have remotely been studied for how they intersect with each other there's a total unwillingness to take that question seriously especially during peak woke and you know you're just it's like taking a bunch of random chemicals
Starting point is 00:16:04 and putting them in a jar and shaking it as hard as you can and then throwing it somewhere well absolutely and we don't know the ramifications long term for a lot of this stuff but let's go ahead and I saw this image go up but let's start it up again 89 this is 7.2% of us adults identify LGBT but look at those red graphs on the right that's 19.7% of gen z in 2022 so presumably that number would be higher now
Starting point is 00:16:30 although we have seen a reversal of some of these trends just because we've been actually fighting and winning cultural battles you get this uh let's go to image um i'm not sure which one this is here we go 90 this is galop poll okay so nearly four in 10 young liberal women identify as LGBT okay so that's that that big huge graph right there 18 to 29 year old liberal women is almost is at 38 percent identify as LGBT so we talk about the social contagion of it all that's what we're talking about because it far outpaces any other generation thanksgiving holds so many memories, and I'm sure it's the same for you. Right now, there's a girl finding out she's pregnant, and the next couple of weeks, she's going to make a decision, and whatever decision
Starting point is 00:17:20 she makes will become her memory of this Thanksgiving for the rest of her life. What will she be thankful for a year from now? You. She'll be thankful that you introduced her to her baby by providing a free ultrasound, and she'll be thankful that she chose life as she prepares for her baby's first Thanksgiving. Take a stand for life by providing an ultrasound with pre-born. When a young woman sees her baby on the ultrasound and hears her baby's heartbeat, she is twice as likely to choose life. Just $140 provides five ultrasounds that can save five babies. $280 saves 10 babies. A gift of $15,000 provides an ultrasound machine that can save thousands of babies for years to come. Call 833-850-229 or click on the pre-born banner at charliekirk.com today.
Starting point is 00:18:10 And before we bring our next guest, and I want to play cut 107 as a little preview. The purchasing power dropped by about $3,000 under Joe Biden because the wages didn't keep up with prices. Under President Trump, it's already gone up by about 1,200. We understand that people still feel the paying of the high prices, but we're closing the gap and filling the gap fast. All right, I'm excited to welcome Kevin Hassett,
Starting point is 00:18:35 the man in that clip director of the national economic council of the united states welcome to the show sir honored to have you back again yeah it's great to be back it's great to have you and i we you know i used to talk about this with charlie just how much we loved having you on the show because you you you you have such an optimistic air to you you you you know if there's if there's doom and gloom out there like you come on and you kind of make sense of it and you and you and you you kind of steady everybody's nerves and you say hey listen guys look at look at this piece of data look at that and so this was i think one of the key points in videos that i saw floating around this weekend because you're talking about this affordability crisis that has become front and center partly because some
Starting point is 00:19:17 of charlie's tweets have become have gone viral and everybody's talking about the housing affordability and things like that why don't you just start right there because people still feel the crunch of Biden inflation. I don't think anybody with a rational mindset thinks that that's all going to be wiped away in 10 months. But explain the real metrics of it and why people are still feeling this way. Oh, sure. I absolutely will. And again, it's my first time on the show since I was talking to Charlie. And one of the things I remember best about him is how much he started to love economics. I think you probably remember some of the conversations I had with him after the show, like when we weren't on tape. But, you know, I think that the bottom line is that under Joe Biden, they spent
Starting point is 00:20:03 like drunken sailors, and the Fed basically printed the money to let them do that. And, you know, everybody knows that that causes inflation. Inflation went up almost to 10 percent, average 5 percent a year. And then interest rates went up a lot. And so if you wanted, for example, to buy a new home, the typical homeowner would see their mortgage payment double. And meanwhile, grocery prices went up. And so, for example, a typical month's groceries for the average family was about $400 when President Trump took office. It's about $515 at, you know, when President Trump came back again.
Starting point is 00:20:40 And so people rightly look back at those numbers and say, geez, you know, I'm really having a hard time keep it ahead. Now, we've got mortgage rates down, and so the monthly payments are going down. We're making it easier to buy a car because we're letting you deduct the interest. And inflation itself has dropped down to about two and a half percent right now. But, you know, if Joe Biden doubles your mortgage payment and then it goes down a little bit, and if prices go from $400 to $515 for a typical bag of groceries, then, you know, getting inflation to slow is not the same as reversing the situation.
Starting point is 00:21:17 And the way we reverse the situation is we continue to, you know, go after every little thing we can to reduce inflation. the most important is at the macro level that we're cutting the deficit by about $600 billion this year, which will put downward pressure on everybody's prices. But then we're going thing by thing to try to come up with policies that help that as well. But the bottom line is that this is a situation that was caused by democratic policies, and this is a situation that we're fixing. And somehow the fact that prices would up a lot under Joe Biden is suddenly a good talking point for President Trump, and that's just preposterous.
Starting point is 00:21:56 Blake, Blake Neff, by the way, is also in studio with us. He's our another producer here, so he's got a question. No, I just, I kind of wanted to, you know, highlight just, I love this, one of the, actually one of the last things Charlie was tweeting about. He just talked about, he really was fixating on that falling home ownership rate, especially for people about 30 years old when they're in that marrying, getting, having kids range. And he just said, you know, you mentioned it's like left-wing policies. And he says, We need to restore the social compact in his six parts where deportations, stop the H-1B scam,
Starting point is 00:22:28 cut legal immigration and chain migration, build 10 million homes, crush the college cartel. And you think, like, each of those is really a pillar of, you know, Biden-era policy, of we're not going to deport anybody, we're going to give endless money to the college cartel with no change whatsoever. We're going to have, you know, endless H-1Bs. You know, whatever the right amount we can debate, but it was basically just more and more. and more and more and more. And of course, you can't build any homes because we have endless regulation to strangle it. And dismantling that is such a basic step towards
Starting point is 00:23:00 making America a functional society for more of the people in it. Well, I totally agree. And we could throw that image up 59, Kevin, just so you could take a look at it. He was responding to a graph that had been going around. This is about a month before he was killed that said that the percentage of 30-year-olds that were both married and owned a home had dropped below 15% and in the it looks like 1960s it was over 50% it stayed about 50% until about 1970 even in 1980 it was about 45% 1990 it was about about 45% and then it dropped off a clip I mean I don't know if you want to put your macroeconomic hat on if you had to isolate what happened around 1990 from a macroeconomic standpoint or from a societal standpoint that caused that
Starting point is 00:23:47 steep decline how would what would you identify as the maiden drivers Sure. Well, I think that the steepest decline is really over the last three or four years where the mortgage rate went through the roof. But I think that the thing that you guys have been talking about and Charlie talked about forever, the declining rate of marriage is a really big deal. You know, that people get married and then they buy a house. And usually people don't do it before that. And so I think that if you look at the sort of declining marriage rates over time, that they explain a lot of. the declining home ownership. And the other thing that you just mentioned about, like, stop throwing all the money at the colleges so that they could just jack up tuition and everything, there's another thing
Starting point is 00:24:32 on the affordability question that is underappreciated. I just would like to highlight with you guys, which is, remember that, so Obamacare was supposed to be Affordable Care Act, right? That's what they said. And so all of the stuff, all the fights and the shutdown and everything about the Affordable Care Act, first of all, all those policies were crafted by Democratic. Democrats, every single one of them, like barely, if ever, got a Republican vote. And so if somebody's got a problem with the Affordable Care Act now, then they should
Starting point is 00:24:59 blame the Democrats. And somehow the Affordable Care Act, if you look at the mainstream media, is President Trump's fault. But then the other thing is, and this goes back to your point that you just made so cleverly about the colleges and universities, and something that Charlie highlighted, is that so what happened was that in the Affordable Care Act, Obamacare started giving lots of subsidies to people to buy health insurance. And so there is sort of like you get subsidies for going to college.
Starting point is 00:25:24 And then what happened was that the insurance companies, which give lots of campaign contributions to the Democrats, jacked up their prices. And so if you look at the Obamacare insurance programs, the insurance policies, they've increased a rate of inflation of about twice what it is for ordinary private plans. And so it's a classic case of throwing government money at stuff and then having the people who get the money jacking up the price and giving a worse deal to the American. American citizen. And that's something that Charlie would, of course, spoken up a lot about. And it's something that we're paying attention to right now. Well, absolutely. I mean, you could look at
Starting point is 00:25:58 universities. As soon as we federalize student loans as opposed to private loans, one of our sponsors is Y ReFi that actually helps with private student loans. You saw a ballooning of college administrative classes. I mean, the ratio of teachers to students drops off a clip, but the ratio of administrators to students, it must, I mean, It's ballooned at an astronomical rate. Of course, we see, you know, building new stadiums, new buildings, go through the roof, starting in the late 90s, early 2000s, and on to today. But the quality of the actual education, teaching and professors, goes down.
Starting point is 00:26:36 So there is kind of a very interesting parallel to when government gets involved, whether it be in health care or in our higher education institutions, a massive decrease in quality. I agree with you. I, you know, my sons both went to Columbia University, and I can remember that when my youngest son was, I was going through his classes, one of the required classes he had was critical race theory. There's a required class, it's core class. You know, Columbia, our guys went there because they thought that Columbia was this place where they had the great books program and they still celebrated Western civilization and something, but they squeezed in critical theory as one of the top courses, a required course for everybody at Columbia. And so that's the kind of stuff that isn't going to get you a job, I guess, unless the governments are putting you in charge of that, you know, for some poor company. But that's the kind of thing that's made education less valuable.
Starting point is 00:27:26 You're right. And what else are they teaching young people is to not get married. Go ahead and throw image 66. Obviously, it's a wider societal issue, but there is massive amounts of indoctrination that are going on at the higher education levels. This is girls are now less likely than boys to say that they want to get married. I had a tweet about this up over the weekend that went viral. This is the percentage of 12th graders saying they are most likely to choose to get married in the long run. In 1993, it was 83% of girls and 76% of boys.
Starting point is 00:27:55 Boys have remained basically steady. Girls, however, have dropped more than 22 points. And they're now from 83% 93% to 61% in 2020. So we've had an absolute collapse of the percentage of young women that want to get married. And so what we, I will tell you this, his firsthand experience. I know one of my last really poignant memories with Charlie at a large event, we were to do an action summit over the summer in Tampa.
Starting point is 00:28:23 And we went into a room with all these young leaders from Turning Point USA. And we asked them a question, like, how many of you feel a disconnect in dating? Do you feel like that you guys, the men and the girls are seeing eye to eye? And it was like every hand went up. They were like, no, we are not seeing eye to eye. There was a massive problem between boys and girls at this point. want different things we see the world different our timelines are different you saw that mbc poll that basically suggested that young men want to get married start a career and have kids and young women want
Starting point is 00:28:55 a career make money be financially independent down it was 11 out of 13 on the list was have kids and get married i mean so you're you're seeing a real societal breakdown when it comes to basic things like you know procreating creating the next generation and by that why that's so important the 3Ms. I was with on Martha McCallum on Fox on Friday about this. The 3Ms. Charlie and I would talk about it. We would talk about it on the show all the time. Marriage, Mortgage, and Mating. Brookings Institute calls those the conservatizing life events, Kevin. This is Lane Schoenberger, Chief Investment Officer and founding partner of Y Refi. It has been an honor and a privilege to partner with Turning Point and for Charlie to endorse us. His endorsement means the world to us, and we look forward to continuing our partnership with TurningPoint. for years to come. Now, hear Charlie, in his own words, tell you about Y-R-R-R-E-F-Y-F-Y. I'm going to tell you guys about Y-ReFi.com. That is Y-R-E-F-Y-F-Y-F-Y. Why-Refi is private student loan debt in America total is about $300 billion. Why-Refi is
Starting point is 00:29:57 refinancing distress or defaulted private student loans. You can finally take control of your student loan situation with a plan that works for your monthly budget. Go to Y-refi.com. That is Y-refi.com. Do you have a co-barrower? Why, Refi can get them released from the loan. You're going to skip a payment up to 12 times without penalty. It may not be available in all 50 states. Go to yrefi.com. That is y-R-E-F-Y.com. Let's face it, if you have distress or default to student loans, it can be overwhelming.
Starting point is 00:30:23 Because of private-sident loan debt, so many people feel stuck, go to y-refi.com. That is y-refy-fy.com. Private student loan debt relief, y-refi.com. There is a lot of actual good economic news. when you get into the numbers. I want to play cut 109. This is Peter Ducey comparing President Trump's first year to Joe Biden's 109. When you look at overall inflation for the first year of Trump versus Biden, Biden, overall inflation was up 4.3% higher than Trump, just up 1.6%.
Starting point is 00:31:00 Groceries under Biden in that time, up 3.8%. With Trump, up 1.3. And then when it comes to gas, this is crazy. Biden up 24.4% with Trump. It is actually down 5.4%. How much do you have to lower prices before we start worrying about deflationary pressure? I know we're not there yet, but I mean, we don't want deflation, obviously, right? So is there a way to sort of make good on what people really think they want, which is lower prices, without sort of tanking the economy?
Starting point is 00:31:35 Or do you just have to sort of wait for wages to catch that? up. No, it's a great question. And also that chart that you just showed with Peter, the fact is that what the left is doing right now is they're looking at, say, that 24% increase and saying, well, you're down 5%, but you're still up. And the bottom line is that they have this massive hole that was dug by Joe Biden, and we're filling the hole really fast. But the fact that the hole still exists is what they're blaming President Trump for, which is just logically ridiculous. And so, you know, my view is that the way that we move forward is that we have a big supply side positive shock for the economy, which we are having because of the big, beautiful
Starting point is 00:32:20 bill. So we're, you know, building factories. We're cutting taxes on overtime and taxes on tips so that people work harder. And that increases growth, but it doesn't increase inflation. But it gives you enough growth so that you shouldn't worry about deflation. I want to talk about this idea of deflation, right? So we've known that this has been a dog of a problem for so many countries like Japan went through a massive deflationary crisis. I think that's what people think they're getting, actually, when they think Trump's going to fix the economy. Trump's going to fix what Biden started. I think they think that they're getting deflation, but that's bad. So what we really need to do is you're talking about the supply side shock. President Trump's talking about 16, 17, 18, 19,
Starting point is 00:33:06 trillion dollars of investment into the economy. And then that starts boosting wages. You get a tightening job market when you deport illegal immigrants, when you, frankly, when you have a net migration outflow out of the country, right? So you tighten the labor supply. Then you get wages going up. You get investment. You get this one-year amortization, which is in the accelerated amortization of things like, you know, a restaurant wants to build a kitchen. And they have to, they can amortize all that in the single year or bigger investments. When are we going to start seeing that supply side shock? Because I know $19 trillion coming to the economy, if that materializes, that's going to be huge,
Starting point is 00:33:46 but it's going to take a little while. How do you predict the next six to 12 months going? It actually isn't taking a while. In fact, it's underway right now. If you look at capital spending this year, it's pretty much up by almost as much as we saw all four years for Joe Biden. There's been a capital spending boom because people want to build facts. and create jobs in the US.
Starting point is 00:34:06 And in fact, it was one of my favorite little footnotes about the State of the Union address. I guess we're supposed to call it something else, the joint session of Congress. But when we were editing the final draft, one of the nerdy things that the economic team asked the president to stick in was that whenever we passed the big beautiful bill,
Starting point is 00:34:23 we're going to make the accelerated depreciation, the expensing of new equipment and new factories retroactive to his address that night. And then what we saw was that there was an explosion explosion of an investment already because people knew we were going to pass the big beautiful bill and we gave them this massive taxes end up to do it. And so it's really underway a big part of it. But one of the things that happens in terms of the big wage effects that we're going to see is that people tend to get their wage adjusted if they're not changing jobs in January. And so
Starting point is 00:34:52 there's going to be really big salary increases. They're already underway this year. But when do you see January? And the other thing is because it takes a while for the IRS to do the forms, the no tax on tips and no tax on overtime, a lot of people aren't going to see that until April when they get their refunds. And so the bottom line is there's a lot of really good after-tax news coming for next year, and it won't be deflationary. The way you get deflationary is you remember they called it the new normal under Obama. You just can't grow very much and you got like really, really low price inflation, even deflation. Well, that's because they put a straight jacket around the economy. We're not doing that. And so we won't have deflation. We won't have low growth like that.
Starting point is 00:35:29 Well, no, and I think you agree with Scott Besson. He says that he thinks the U.S. economy will likely substantially accelerate Q1 and Q2 of next year. I'm going to put you on the spot here, Kevin. You can feel free to defer. I know this isn't necessarily in your portfolio. But I saw Stephen Moran. He went on, I don't remember one of the networks, and said that he believes that deportations, mass deportations are deflationary, meaning they actually do drop prices or reduce the rate of inflation potentially.
Starting point is 00:36:04 Do you think that the U.S. economy still needs one to 1.2 million green cards, including H-1Bs and all that stuff, given, you know, AI's coming down the pike. We've got this job insecurity with new grads. 30 seconds. I know it's not enough time to answer it, but do your best. Yeah. You know, I'm for legal immigration that President Trump thinks is the appropriate about, and I haven't talked to. him lately about what they're appropriate about right now is. So I don't have an exact number for you. But I think that stopping illegal is one of the great accomplishments of any president ever. And he really has pretty much stopped in and it distracts. And people told us that would cause a recession, but it didn't, right? Because it gave the jobs back to native-born people.
Starting point is 00:36:46 And in fact, more than 100% of the jobs this year come from native-borm people. Amen. Kevin Hassett, thank you so much for joining us. It's an honor to have you. We'll talk to you soon. Oh, thanks. I honor to be here. For more on many of these stories and news you can trust, go to charliekirk.com.

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