00:00:48.360We'll also talk about how Elon Musk, formerly of Doge fame, pretty unhappy with the situation here of the $5 trillion debt ceiling.
00:00:59.200I think there's still potentially, Buck, a little bit of drama because I think the House will now have to come back and agree to some of the changes that were made.
00:01:08.320Oh, they have to go on the reconciliation side?
00:01:41.400I think Trump wants it by July 4th, right, is the ideal day that he would sign it, which is Friday.
00:01:47.820And so I imagine that they are hoping that the House will sign off on the changes made by the Senate at some point in time in the next several days.
00:04:26.560Now, okay, the House reconciles it on their end.
00:04:30.020What are your thoughts as we sit here and bask in the glow of MAGA, another win up on the board?
00:04:36.940So I think the big question is going to be how fast can the economy grow?
00:04:41.540So now that this bill is done, the ability to grow the economy is how we end up keeping from having to massively increase the overall debt.
00:04:59.340Can we get this economy moving at 3% growth?
00:05:03.720Doesn't sound outrageous to me, but it is better than we have been growing the economy over the past decade or so, 15 years on average.
00:05:13.740And so, to me, the biggest question out there is how fast can we grow the economy?
00:05:19.080To me, the secondary question on this is can we get the Fed to lower interest rates?
00:05:26.480Our interest rates are about 2% above where the EU is right now at 4.25, 4.5.
00:05:33.460You guys can correct me in the studio if I get the percentages wrong.
00:05:36.680I think the numbers need to be around 2.5, frankly, where the EU is.
00:05:41.300If that were to happen, then mortgage rates, in theory, are going to come back.
00:05:46.520That would unlock the housing market, which is, I think, the most frozen aspect of the American economy right now.
00:05:53.960So many of you got the 2.5% or 3% 15- and 30-year mortgages.
00:05:58.560But it's been several years, and we accelerated those so rapidly that lots of people are unwilling to sell their homes or move despite changing life circumstances
00:06:09.660because the difference between a 2.5% and a 3% and a 7% mortgage rate is so massively substantial.
00:06:16.400If that starts to get unfrozen, then I think a lot of the other aspects of the economy will start to fire on all cylinders.
00:06:24.100So the House Freedom Caucus, I was asking who's going to cause drama here.