? (Anchor) 00:00.110
so the president came out saying he's trying to fix a mess right now didn't really seem to address two of the big issues some of the weakness in the job market and the concerns about AI while it's a driver for the economy taking away jobs do you think he missed the mark here
? (Anchor) 00:13.030
what do you think the read is when it comes to voters
James Pethokoukis (Economic Policy Analyst) 00:16.230
right you know there are a lot of statistics and numbers that he put forward in that speech and yet he still you know sort of managed to miss a couple of things people are worried about which you rightly just highlighted people are concerned about the impact of AI and jobs and
James Pethokoukis (Economic Policy Analyst) 00:31.310
they're worried about jobs more broadly so and at that point and it's probably a good reason it's pretty tough to argue against the the statistics but as he said at the beginning of that clip you just played about inflation he's facing and the administration is facing the same
James Pethokoukis (Economic Policy Analyst) 00:48.310
problem that the biden administration faced which is even if you bring inflation way down and you bring you know back down to the fed target of two percent inflation has gone up a tremendous and prices have gone up a lot since twenty twenty which still isn't that long ago so
James Pethokoukis (Economic Policy Analyst) 01:05.670
people remember what prices used to be and they look at what they are now so even if prices have stopped going up even if that happens for a while they remember that things certainly seem to be a lot more expensive and wages aren't growing that much faster than inflation so
James Pethokoukis (Economic Policy Analyst) 01:22.710
that's a real problem and the only thing that's going to solve that problem is a sustained period of strong economic growth where wages are rising a lot faster than inflation and we have yet to experience that all right
? (Anchor) 01:34.910
so the president touched on healthcare saying that the money should go to the people alluding to the ACA subsidies but not addressing it directly of course we've seen moderate republicans try to push a vote so the fact that healthcare costs are more than likely going to go up if
? (Anchor) 01:48.110
this doesn't somehow pass and it doesn't look like that's going to happen right now what does that mean for the president next year and also for the midterms
James Pethokoukis (Economic Policy Analyst) 01:55.110
yeah i mean i think it would be one thing if the president and republicans had a very specific plan that they were ready to implement that could get the votes and pass so you're saying that great we're not going to do this other thing we're not going to extend these subsidies
James Pethokoukis (Economic Policy Analyst) 02:12.070
and i know you're worried about that but we actually have a plan ready to go pull it off the shelf implement it and they don't and they didn't last year and they haven't had one you know since the ACA was passed public just doesn't have a lot of confidence great you have another
James Pethokoukis (Economic Policy Analyst) 02:28.030
plan wonderful but if you don't please give us the subsidies so these prices don't jump and that's the quandary is that republicans still don't have a real solution on healthcare and frankly a couple of these other things housing that's mostly going to be a local issue there's
James Pethokoukis (Economic Policy Analyst) 02:44.190
not a lot that the federal government can do about that other than sort of urge states to do things and you know energy we need to build a lot more energy capacity in this country that is something the president working together could handle but it's going to
? (Anchor) 02:57.350
take time alright it sounds like you don't think voters received this speech well i know a lot of people saw it as being a bit dark i'm going to the other side of the coin there the corporate audience you know it's no secret the president has really courted the favor and the
? (Anchor) 03:08.990
donations of corporate america specifically big tech how do you think companies and CEO 's and people in the corporate world read what he had to say
James Pethokoukis (Economic Policy Analyst) 03:16.700
yeah you know the president still loves tariffs still says it's the most beautiful word hopefully we won't get any higher tariffs hopefully that'll kind of work its way through the system but if i you know if i was running a company what i would like to hear is one some
James Pethokoukis (Economic Policy Analyst) 03:31.460
certainty on the tariff front maybe some certainty on the national security front you know we we have this you know emerging blockade in south america and i would like to make sure that there was some certainty on you know you you brought up AI i would like to know that like
James Pethokoukis (Economic Policy Analyst) 03:50.710
these tech this technology i would still be able to implement it there's not going to be a lot of new regulation so i think that the the issue would probably be certainty certainty certainty from the from the trump administration when there are some going to be some good things
James Pethokoukis (Economic Policy Analyst) 04:04.590
happening like on taxes starting next year i mean so that's that's kind of a tailwind