By Billy Cunningham, the Great American. Of course, we're figuring up the pieces of what happened last Trunesday with the election of Donald Trump, which is shocked to many, but what a wonderful advent this has been. And now that he's won the electoral vote also one I believe the popular vote by about two and a half million votes.
The Democratic narrative is that the product we sold was great, the candidate to that being Kamala Harrison, is really unbelievable, and that they don't know what happened to him or how it happened to him. Now the resistance is forming from the governors of Massachusetts, the governors of Illinois and California, et cetera. There's going to be a resistance. I guess elections don't matter. Joinan you and I now is David Bonson. He's a renowned financial expert and staunch defender of free markets.
He's been a contributor to many conservative I Think tanks over the years, National Review contributor and also author of many books. And David Bonson, Welcome to the Bill cunning Show. First of all, from thirty thousand feet you look down here, we are about six seven days after the election. What happened on Tuesday? And I remember the fifth.
Well. I think that a lot of the consensus post game commentary has been spot on that you know, there is a Democrat Party in this country right now that surge so leftward in the last ten to fifteen twenty years that they've lost connection with certain voting blocks that
were a vital part of the coalition. And I think the most stunning and dramatic is how President Trump performed with Hispanic voters and young voters, the working class, you know, white male voters, and talked about for some time, but all of these numbers have moved, and all of them
moved last Tuesday, even more than expected than. One other comment I just want to make that isn't getting enough coverage is the states he didn't win and how much he moved the needle in certain blue states that yes he's still lost, but he lost a New Jersey by four points, not seventeen. He lost Virginia by five points, not eleven. He lost Chicago, Illinois by seven points, not
seventeen or eighteen. That's a huge difference. He lost the state of New York, where I'm sitting right now by the lowest margin since Reagan won the state in nineteen eighty four. I mean, those things are just crazy and they speak to blue state failures all across the board.
Was it a product or was it a personality? For those who I kind of called Donald Trump the Pete Rose of politics, you know, we're celebrating and to an extent here in Cincinnati, the life and times of Pete Rose, who had a big event at the Grand American Ballpark yesterday for Pete and Donald Trump and Pete Rose are both and the World Wrestling Federation Hall of Fame. But the personality of Donald Trump attracts many to a side and repels many other And the personality that Kamala Harris
says exactly the same thing. So was it the product or was it the personality? Or was it both?
With presidential politics, it's always both. Donal Trump is a celebrity, Donald Trump as a persona and there are people attracted to it and there are people who are put off by it. And yet when you combine the element of celebrity and personality with the moment, with the basic frustration people had around the key issues inflation, immigration, and the border,
you add to it. I think a really really bad set of cards that the Left was playing a bad incumbent candidate, a bad replacement strategy for that candidate, just the timing of everything, and also a national frustration that there's been no day of reckoning for around the way those people handled COVID. I think that that's a huge
element in this election. In twenty twenty four, you got to see something we didn't see in twenty two in the midterms, and that is that a lot of people do not appreciate the way their lives were altered by the COVID moment.
You're a great economist to have a point here about the resilience of free markets. You say, the average four year market return with thirty three percent, regardless of the party and office, demonstrates the robustness of free markets. I'm looking at Dalla straight ahead. It's up one hundred all
time high. You can only imagine if Kamala Harris had won by hook or crook, what would have happened to the markets, What would have happened to the now orders flowing in from Europe to get liquefied natural gas, the telephone calls to putin bite Donald Trump, the Saudi Arabians
back involved in the peace process. I mean, all good things are going on, and I often wake up in a cold sweat, like James Brown, if I could just have a nightmare that really Kamala Harrison, Tim Waltz won, and the markets are in free fall, and the caravans in Mexico continue to push a across the southern border.
It's a road not taken. Was this similar in your viewpoint, David Bohnsen to nineteen eighty when at the end of the last week that people said, Jimmy Carter, we've had enough, and the personality the policies of Ronald Reagan came in and the rest is history. Is this similar to nineteen eighty.
Well, you know, it's entirely possible that there are similarities in how the voting block moved, but I'm not convinced. Unlike in nineteen eighty, See, in that case, what's the
big difference. Ronald Reagan had to sell himself to American people still as someone who could govern and lead, where this is very rare since Grover Cleveland didn't have television or social media, that President Trump was having to basically say you already know that you know what I'm like, you know what you don't like about me, which is which is why stuff like that Puerto Rican joke at Madison Square GUARDI and other stuff. It's why it was so dumb for them to focus on it, because look,
if people were offended, they were offended. Now those were not people who were going to be voting for him anyways. Those things are pricing. What we talked about in financial markets, there's something called things being priced in. And the negatives on Donald Trump, which I should be cleared a whole bunch of them. I don't like either, Okay, I don't appreciate the way he acts all the time. But the American people already decided that they either liked or didn't
like that stuff. In the end, I just think that it was a terrible moment for the progressive left, and that, by the way, they had every opportunity after President Biden won to go in and govern to the center, and they chose not to do it. They doubled down on crazy, and that brand was rejected. And so yeah, the combination of President Trump's personality and the moment really.
Pulled it through. I think a lot of people thought in twenty twenty. Okay, Joe Biden, we know Joe Biden, we know Scranton Joe. He says all these things that are crazy leftist ideas, like telling a six year old girl you're in the wrong body, or telling a San Jose State volleyball player a six foot three jumps out of the gym identifies as a girl. Suddenly a person can become a different genre by announcing it one hundred and four different genres, dei reparations, all the other crap
put out by the radical level. Many people thought, Okay, once Joe Biden gets in there, he's not going to do that at all. In fact, he doubled down on crazy. It got worse, and maybe it was because of his lack of mental alertness that he permitted the leftists around him to dominate, which is why they lost, and they lost big.
Now.
Secondly and lastly, perhaps his energy. You have a great posting. Energy independence and economic strength are tied together. Energy, whether it's a gas, natural gas, coal, whatever it might be, reproduce those items and safer and cleaner way than any country in the world, any country in the history of the world. But the left says, shut down the pipelines.
We're not going to allow any more LNG exporting. We're going to do things to the coal manufacture, the coal that makes it impossible to get out of the ground, and that permeates through every aspect of American society no matter what you use. And I'm looking at a pen, I'm looking at a phone, I'm looking at a TV. I drove hare and my Chevy Blazer. Everything I do in life is relatable to energy, and the insurance and
the insurance costs of also skyrocket. But what does a new energy policy of Donald Trump mean for inflation in general?
Well, there's a couple of different aspects, and sometimes it takes a bit more nuanced because a lot of people think, oh, well, now we're going to start drilling more barrels of crude oil per day, where right now we're at an all time high at one point three five million barrels. The difference is building infrastructure so that we can continue doing so in the future cheaper and with rest regulation. And
then liquefied natural gas exports. Why the Bide administration chose eight months ago to put a pause on approving permits for new export terminals from a geopolitical standpoint from a four and policy standpoint, our ability to export liquified gas to Europe and Asia to allies of ours, a huge growth industry that provides all kinds of military heads against bad actors in the Middle East, against bad actors in Russia.
It's totally insane, and so I think those are where you're going to see some of the lowest hating and fruit out of energy policy is deregulation and eventually US being able to export and sell some of these great resources.
We have the oil companies right now. If if Harris Biden, Trump or Santa Claus were president, they're not going to be drioling a lot more than one point three five million barrels per day just based on the seventy dollars price, their break evens, their economics, their supplied demand balance OPEC plus. I think that we're producing plenty of oil right now, but I think you need to deregulate the process. And that's where I think Trump with Secretary Rick Perry this
first term, did a good job. And this is a great example, by the way, but you just said a moment ago, when Biden came in and doubled down on crazy symbolically canceling the Keystone Pipeline on first day. Those types of things. He had every opportunity to come in and say I'm going to be more of a centrist on energy, and he couldn't do it.
David bonson one of the great things I've mentioned for the last several decades. Two things that's going to destroy this country completely is unbridled immigration from third world poverty, grinding us the cities into collapse, which is well underway. And Milton Friedman's on my Mount Rushmore of Conservatism often spoke about unbridled immigration living actually third world grinding poverty and importing that into our cities. And the second thing
is the looming debt crisis. We borrow every day about six billion dollars of brand new money. The accumulated national debts about thirty six trillion. We pay over a trillion day on interest. That's on its way to fifty trillion. And when Trump was in office or Bush was in office, it still went up doubled every four years. That debt doubled. Right now it appears we're on track to have another
two trillion dollar deficit. We can't afford it. Talk to the American people about deep State, about the looming debt crisis, which is going to You can't keep taking up brand new credit cards to pay interest on the other credit card. At some point that debt pyramid will collapse. Explain that to the American people.
Well, I think the most important issue is that people have to understand that all debt is coming from future growth. The way in which we service the debt is paid for from economic resources. And the one thing about the debt that blew up during the Bush years is the debt to GDP ratio. Basically, the mounted debt we had, which went up a lot divided by the size of the economy was the same. The debt to GDP did
not go up. However, since the Obama years, through the Trump years, through the Biden years, our debt has grown faster than our economy every single year. Our annual budget deficit as a percentage of GDP is the highest in the free world. It's now higher than Japan, higher than Europe. Now, our total debt to GDP is not higher than those countries, but our annualized addition to the debt as a percentage of our economy. So people go okay, Well, you need
to get more economic growth. Well, I agree. I was one of those people screaming for it as an economist thirteen fourteen years ago. That ship is sailed. You are not going to grow your way out of this period. You're going to have to get growth, but you're going to have to get spending under control. And that's the part there's no political will to do. And I just got to remind people listening, this is what we're talking about when we're not even in war. This is what
we're talking about when we're not even in recession. You expect deficits as a percentage of your economy to go up during wartime and during tough economic times. This has been peacetime and economic expansion, and we're running one to two trillion dollar deficits. And by the way, the only thing we're debating is whether or not we want it to be one trillion instead of two trillion. Imagine that conversation with a spouse. You know we have one hundred
thousand dollars credit card debt. Do you want to add fifteen thousand next year to the debt or ten thousand of the debt? And those are the only two options you need a balanced budget amendment. You need across the board spending cuts. Politically, it's impossible to do by targeting this and that, so you have to just do it broad based. Just say across all categories, we're gonna implement
two percent, three percent, five percent spending cuts. It has to happen, and I'm hopeful President Trump and the people around him will take that a little more seriously than he was able to do in his first term.
What happens, we have a minute remaining. What happens in three years, five years, ten years, and it's coming. If we don't do that.
A lot of people in a lot of people on the right predict some sort of doom and gloom particular moment where we fall in the ocean. But see my predictions worse than that. Japan never had a moment where their society just collapsed. They just went thirty years with no economic growth thirty years. And so what I call Japanification in America where you just live with subpar economic growth. Now, could you, as something of your bond market rebel and
have this real massive cataclysmic event. You could, but you might not. It may just be even worse than that, where you just live with subpar economic performance, and that's unacceptable for our kids and grandkids.
And that's not a guess, that is a certainty that you cannot take new credit card debt out to pay off the interest and other credit cards. At some point the pyramid scheme collapses and America has guaranteed our kids and grandkids less of a quality of life and higher taxes because what we've done. And I hope Donald Trump he's got forty eight months in office, and I hope he's the one that says we got to have a two to three percent across the board cut in everything.
Otherwise we're going to give the o to our kids, less great to country, and the evil forces in the world will take over. David Bonson, you're the best there is on this and once again, thank you for coming on The Bill Cunningham Show. And David Bonson, you're a great American. Is Donald Trump the Pete Rose of politics?
Well, I love that example for you guys there in Cincinnati. It's a great analogy. And obviously everyone is celebrating the life of Pete Rose, and Donald Trump has the opportunity to leave a legacy next four years. I'm praying he'll do it. It's not easy. No, it's not a job.
A lot of people would want no.
And like I said, sometimes he can get in his own way, but we're gonna pray he get some good things done for our country.
David Bonson, thank you very much for coming on the Bill Cunningham Show. And David, you're a great American. Thank you, thays Bill, God bless you. Let's continue with more if a line becomes available. Five one, three, seven, four, nine, seven thousand. Billy Cunningham The Grand American Live. It's home of the Bengals. According to Moeger, they're about to arise and win their next six or seven games and enter the playoffs. And I believe do you believe? I believe
that we will win. I believe that we will win. A news radio seven hundred WLW