Thursday Update： June 26, 2025
Episode Stats
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177.9966
Summary
General Electric is moving washing machine production from China to the United States, the U.S. economy shrank in the first quarter, and the Senate strikes down a key piece of President Trump's immigration bill, the Budget Control Act.
Transcript
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Hello everybody, I'm John Fossett with This Great America Show, midday update for Thursday, June 26th.
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Hope you guys are all staying cool out there and your summers are off to a great start.
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Here in New York City, it's the last day for schools for the New York public school system.
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As parents now get to deal with their kids at home for the next two months or so.
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We pray for all you guys and like I said, I hope your summers are all off to a great, great start.
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You hear me say it each and every day on this show, like a broken record, but I'm only saying it because it's happening and it's happening right before our very eyes.
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General Electric's Appliances is moving their washing machine production from China to America.
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$500 million investment, quote, we are bringing laundry production to our global headquarters in Louisville
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because manufacturing in the United States is fundamental to our zero-distance business strategy
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to make appliances as close as possible to our customers and consumers.
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He says that this decision is their most recent product reshoring and aligns with current economic and policy environment.
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Nobody could like them, right, if you're the one eating the tariff.
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And speaking of economics, the U.S. economy shrank for the first three months of 2025, also known as the first quarter,
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with the latest government data showing a deeper contraction than previously estimated
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as consumer spending lost momentum and a surge in imports widened in the trade gap.
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Gross domestic product declined at an annual rate of 0.5% in the first quarter.
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Commerce Department releasing those numbers this afternoon, marking the economy's first contraction since early 2023.
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The figure was revised down from the previous estimate of 0.2% decline.
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It stood sharp contrast to the 2.4% growth recorded in the fourth quarter of last year.
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The pullback largely by an increase in imports, which subtract from the GDP calculation,
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along with declines in the government spending and weaker than expected consumer expenditures.
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And the big, beautiful bill that's sitting right now in the Senate, facing a little bit of some troubles,
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an unelected leftist Marxist Democrat bureaucrat, who no one ever voted for,
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single-handedly gutting President Trump's signature bill, with the stroke of the pen,
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calls for her termination are now emerging, but the Senate majority leader is not willing to go for that.
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And John Thune, who's a Republican, at least it's what he tells us, allowing this woman to stay in her position.
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This afternoon, the Senate parliamentarian Elizabeth McDonough struck down several key features of President Trump's big, beautiful bill,
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including defunding of Medicaid for illegal aliens and defunding gender-affirming care under the Medicaid and CHIP Act,
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The parliamentarian also acts the Medicare provider tax, which complicates the Senate GOP's math,
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on the spending cuts it needs to pass the legislation.
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This is the second time now that McDonough has removed key parts of President Trump's bill.
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Some other key parts that she's rejecting, the federal government's defunding of sanctuary cities,
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defunding the CFPB, the Consumer Financial Protection Bureau, a rogue agency,
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the EPA's efforts to roll back electric vehicle mandates,
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a proposal to restrict federal courts from issuing nationwide injunctions.
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It was appointed, like I said, back in 2012, when Harry Reid ran the Senate.
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Fortunately, Republicans are no obligation to abide by her activism
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For example, the Senate can hold a simple majority vote on the floor
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to establish a new precedent to expand the scope of what is eligible under reconciliation.
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and replace her with another parliamentarian with a simple majority vote.
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Given the Senate has 53 Republicans, they can afford to lose three,
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provided J.D. Vance is in town to be able to break the rule.
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who probably won't go for this, Susan Collins and Lisa Murkowski,
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So you probably got one more out there who hates President Trump
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and is willing to do all they can to stifle the Trump agenda,
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especially when it comes to the big, beautiful bill.
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Folks, please be sure to join us tonight for The Great America Show.
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a retired lieutenant colonel and president of Project Sentinel,
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We're going to break down these leaks from CNN.
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CNN, the biggest threat to democracy, as I often say on the show.
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We're going to break all that down, the peace plan in Gaza that's underway right now.
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We take all that up today on The Great America Show, folks, 6 p.m. Eastern time.
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Rumble YouTube, Twitter, wherever you guys join us for The Great America Show.
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Please be sure to follow us on our Instagram page at The Great America Show.
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And you can follow me on Twitter at JohnFawcettNY, folks, 6 p.m. sharp.