Buying it with a whopping 80 of voters in the latest fox news paul describing Economic Conditions as fair or worse, poor. It is no wonder, new data showing homeowners spending 40 of their gross income on their mortgage with rates hitting their highest level in 20 years and as moodys estimates americans are spending 709 or more on goods and services than they did two years ago. Lets bring in our panel, Damn Heninger and bill mcgurn, first, the Treasury Department on wednesday came out with a three page memo on the Inflation Reduction Act, virtually nothing in it was about reducing inflation. All about spending more on more regulations, both of which, spending or more regulations are inflationary. What do you make of that . Reporter President Biden has a habit of saying or whispering that he thinks it is true but nobody else knows that it is untrue, bidenomics with the Inflation Reduction Act is working, roll it back to when they were passing this act. They did call it the Inflation Redu
On this just moments ago. Listen here. And the president has said he wished he didnt call this the Inflation Reduction Act. What should you call it . Well, he said following that sentiment because i think its a complicated bill that it also has reduced costs and i think its very important to note that both on healthcare and as i noted on the energy side we have already seen costs coming down. John are they . I mean, gas is nearly four bucks a gallon again. Gillian home prices are up. John are americans really feeling any relief as john suggests they are . Im john roberts. Good to spend another hour with you. Gillian you as well, john. Gillian turner in for sandra. Trying to narrow Donald Trumps polling lead. John only one clear frontrunner and that is the former president. Florida Governor Ron Desantis and tim scott are the two main contenders for the top spot. Gillian the majority of Republican Voters agree trump is in the best position to beat trump in the general, 28 are arguing for
president biden downplayed that balloon s significance in an interview this week saying the flight was, quote, not a major breach. let s bring in retired four-star general jack keane, chairman of the institute for the study of war and a fox news senior strategic analyst. general, good to see you. thanks for coming in. so do you think the administration did the right thing here shooting down this latest object so quickly after it had waited a long time to shoot down the balloon? no, yeah, absolutely. it s the right call. i mean, it s interesting what we don t know, as you indicated, we need a lot of answers. what s very revealing though and concerning is that this we did not pick this up before it entered u.s. air space which is very similar to the historical record we were able to put together after the spy balloon transversed the entire swath of united states. we went back and looked at what s the history of chinese fleet balloons, and we found several of them that had, in
so bad, he will do what it takes to get it under control even if it means more economic pain. have got to get inflation behind us and wish there were a painless way to do that. there isn t. david: working americans are spending a month out of their annual salary to keep up with soaring prices. is inflation and its causes killing our economy? let s ask our panel, dan heninger, kim strawser land mary anastasia o grady. biden is downplaying inflation, powell saying it is essentially willing to risk recession to cure it. who is right? let s focus on that remark by president biden that inflation last month rose inch. a new turn for the economic lexicon, inflation coming up and inch. the biden white house and the federal reserve are operating in alternative universes when it comes to inflation. the white house has become a wholly politicized subject. the federal reserve, it is about economic reality. the white house is avoiding the underlying economics of inflation, trying to
there is a lot going on right now. but the idea we are going to be able to flip a switch to bring down the cost of gasoline is not likely in the near term nor is regard with food. paul: joined the palace week also journal columnist dan henninger and kim strassel. at editorial page writer monet. before we get to inflation just want to take a quick word about the jobs report on friday at 390,000 new jobs, higher than many expected. the job market is pretty good, very solid. but there is still this unhappiness people have with the economy right now. how do you explain the disconnect? personally jobs numbers i think we can say guess they re a little stronger than a lot of people anticipated. but still this number represents a drop off at the pace of hardwood seen over the course of the past year or so. that is would been the biden administration only bragging point about the economy because inflation has run so high which means that wages actually down in real terms. that is