The economy is still the forefront, inflation producer price index lower than expected

What this episode covers

00:00 well everything we got going on politically and the everything there's a bunch happening out there uh... the economy is still in the forefront listen to this from ms and i'm sorry this is cnbc yes strip off food energy up one ten but we're expecting a number closer to half a percent higher so that's nice hold revisions coming in this number moves from point five to point three point one point one would be the latest going back to 00:29 August of last year, we would be in November equaling one-tenth last year. That's food, energy, and trade. That comes in up two-tenths half of what we were expecting. So inflation producer price index comes in a lot less than expected. They're expecting a heck of a lot more than this, mainly because a couple of factors here. We got the government shut down. Yeah, remember that? Government is still shut down. 00:59 partially, but it's still shut down because of the Democrats. And we have to go back and look at John Thune because he won't do away with the filibuster. Oh, oh, oh, oh, just to let you know. And we'll talk about this coming up. The Democrats are already talking about how they're going to change the rules the moment they get control of the Senate. They're out there because you know what? They're not afraid to try it. Let's just see if this works. 01:29 John Thune scared to death of trying it. 01:33 The Democrats could give two hoots. 01:38 about tradition in the Senate. They could care less. But John Thune, he's out there, marking the Queensberry rules, getting his teeth kicked in by the Democrats, even though they're in the majority, still won't do it. there you go. So anyway, uh inflation down, even though, like I said, the government shut down, even though we've got the war going on over in Iran. 02:04 inflation was only was less than half of what they actually expected in the producer price index. Now we'll have to see what the consumer price index is uh coming up. But even the folks over there at NBC, they're having to admit a couple of things. And by the way, Savannah Guthrie is back. They are higher on average this year. 02:28 Senior business correspondent Christine Romans bringing us glad tidings of great. What do you know why are they bigger and how much bigger we're talking about parents seniors homeowners anybody is like a gig workers got overtime and tips those are all the people who are going to get more money this year so it's a big group of you out there and we're talking about $3,400 that is the typical refund at this point that's up about 11 % from last year so that is a good extra chunk of money. 02:56 And if you need a little more... Yes, exactly right. 03:01 Over at NBC, they're telling you that you're getting more money back this year. Thousands of dollars more back. Thousands. And that's a good thing for the American consumer. I'm surprised they even admitted it. But there you go. Now, that's your federal taxes. Your state taxes, that's going to be a different story because today in Columbia, 03:31 Henry Disaster. 03:35 Sign in that new tax bill. 03:40 that was voted on in our House of Representatives and our Senate. It passed our state legislature. The same tax bill that will more than likely, and I would say absolutely definitely, raise taxes on middle class South Carolinians. So if you're out there and you consider yourself middle class, got a couple of people working in the House, you know, guess what? Your taxes are going up. Congratulations. That's what you get when you vote for clowns. 04:09 you get a circus. And that's what we've got going on in Columbia right now, an absolute circus. 04:17 So Henry McMaster, and they even put out a press conference, a press release about it. Henry McMaster signed in, I was like, oh my. 04:28 Unbelievable. It really is. Meanwhile, in South Carolina, in your taxes, you still got to claim taxes on tips. You still got to claim taxes on, you still get taxed on overtime. That's what you got. B ...

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