Do you want to be an Americanadio Scott's long shale back on seven hundred WLW fun fat. Here's a fun fact to start your busy day. The amount of money that we spend in healthcare in the United States has tripled since two thousand, So in less than a quarter century, less than twenty five years, the amount of money we spend on healthcare has tripled. So one point four trillion to five trillion, pretty close to triple, right. More than third of Ohio and struggled play her medical bills last month.
The city of Cincinnati, and this is kind of like a side eye to Aftab who's running for mayor. So yeah, that's probably why. But gave a million and a half to nonprofit that buys medical debt from hospitals. That wiped out some two hundred and twenty million dollars in debt for about twelve thousand Cincinnati. So next up, though, state wide, is Ohio's Medical Debt Fairness Act.
What is that?
Well, Ohio Representative Michelle Grimm out of Toledo, out of the Glass Cities here, she is a sponsor of House Bill two fifty seven. Michelle, how are you?
I'm great? How are you, Scott.
I'm doing fine. All is well in the glass?
I presume, yeah, all as well?
All right?
I had I think Gary Jeff Walker, one of our guys at work here, was driving through Toledo, was thinking to me, said I stopped and had a Pacos honkey dog. And let me tell you something, if you're passing through child to stop at Tony Paco's and get some chili, get a honky dog. Much different than Cincinnati style, but pleasing. None the loss.
All right, So medical.
Debt has I think it's still the leading source and has been for a while, leading source on paid bills and credit reports for a long time now in medical debt's like sixty percent of consumer debt on credit reports, which is incredible. So that those that's the rail that we're facing here. So what does House Bill two fifty seven do? What's your proposal to do?
Sure?
So House Still two fifty seven would do three key things. It would prohibit hospitals debt collectors from reporting on credit reports, It would band wage gurnishment, and it would tap interest of medical debt ode to three percent because right now we have a statutory eight percent interest, So that would cap that at three percent.
Okay, So let's start with a three percent medical to The interest that you would pay right now on any medical bill is certainly higher than three percent, and that keeps up with inflation presumably tied to maybe tied to inflation here, but typically how much of that debt are we talkingbou How much should people just paying interest on medical debt?
Now?
So I, you know, I think it's hard to gauge, but I would say that the average person has about the average person who has medical debt has about twelve hundred dollars and while we don't report under five hundred dollars and credit reports right now, that's taking away about the majority of people who have medical debt and not giving them a chance to repair their court credit or purchase a home or even get a job, because credit reports are they con hinder people getting a job or
getting an apartment or getting a mortgage. So so that that leaves a lot of people out.
Well getting getting insurance for that. But like car insurance, for example, everybody pulls your credit.
Report now, yeah for sure, And so our bill would prohibit any type of credit reporting and medical debt.
All right, So on that one of the one of the complaints you hear from the debt collection industry, which I can't imagine a lot of people signing with the debt collection industry, but it says, hey, listen, you're essentially encouraging people to be dead beats.
Basically, what they're saying is that.
If you take a conscious of consequence away from people for non payment, that's going to lead the higher healthcare costs for everyone because people look at it going, well, I don't have to pay if the government's going to and you know, there's a moral hazard there obviously too, And that's that's a problem with universal healthcare is you know, well people just simply go to the emergency.
If I don't have to pay for it, I'll overuse it. That's a theory.
So you would still have to pay your bills, of course, because it would just not be on your credit report. But I would also argue that there's been studies that said medical debt is a poor indicator of paying other types of credit. So if you had credit cards, or paying your mortgage, or paying your light bill, your electric bill, but if you have medical debt, that's a poor indicator whether you're going to pay other debts. Back, and people
do you want to pay off their medical bills? Medical bills can be medical debt can be embarrassing, but it's not their fault. It's really a fault of a broken system. It's not a debt of luxury, it's a debt of necessity. So that's what I would argue back, is that people people do want to pay their bills back, and putting these creditory practices in place hinders a lot of people from doing that.
In that regard, Michelle Grim, is there a means test or income requirement? I mean, you know, it sounds all long good that people do want to pay their debts off, generally speaking, But how do we separate people who generally can't afford to pay versus those who simply say I'm not going to pay or choose not to pay.
So I think that there when you look at the studies, it's a lot of people who cannot afford to pay, a lot of people do want to pay their bills, but they simply can't afford it. They're they're choosing between putting food on the table, or paying their their electric bill, or paying their mortgage, or paying their medical debt off. So it's it is a lot of people who don't
have any savings or anything like that. A lot of people don't have a thousand dollars for emergency and that's why we're putting people in a bind with medical debt. But we want to help people with House.
Book fifty seven.
Yeah, this is Michelle Grimm. She's out of Toledo. House Bill two fifty seven. She's co sponsoring this one to help people with medical debt because one in three Ohioans carries some sort of medical debts.
The number one cause of bankrow.
I think we're the top two costs of bankruptcy in the United States, but but one drives the other job lessness, so it would be number one, and health insurance bankruptcy is another one. And I think those two go hand in hand because for a lot of people, their jobs and healthcare a tied together, which is part of the problem. This would limit medical interest to what you say, three
percent a year. You can't guarner someone's wages for medical debt collection, and hospitals and providers can't report medical debt to credit agencies right now. And I think in the last few years were reformed it used to be. I believe Michelle unpaid medical bills were kicked over to credit reporting agencies after like sixty or one hundred and twenty days, and now it's a full year.
Correct, correct?
Yeah, So, I mean even the credit industry has said, hey, you know, we've got to we've got to we've got to ease back a little bit here, mean after a full year. Now does that mean that people aren't making any payments whatsoever? If you pay a little bit of money, does that keep you from being reported to credit agencies? How does that work? Or is that with this what two fifty seven seeks to do.
So I think it depends. I think typically I think if you're making payments that it would not be reported. But I think in some instances you will see reports that like people are making payments or maybe they fell behind, so and you know what I was talking about before, they maybe sell behind one are two months and then it gets reported on the credit report. So you know, the system isn't really fair for consumers, and we want to make it a little fair for people to get ahead,
for people to have a fighting chance. So you know, I think that a lot of the arguments against this too is we around wage garnishments. I do want your listeners to look up this article from Signal, Ohio about a rural hospital of Logan County who has who has sued twenty seven hundred patients in the last two years. Yeah, and a lot of their a lot of the judgments
in court were wage garnishments. So people are paying up to twenty five percent of their They're getting up to twenty five percent of their checks garnished their payroll checks, plus they're paying that eight percent interest.
So that's that's pretty cool.
I think most people listening. Wow, Okay, I'm not quite sure. I want the state medical bills. At the same time, like, how am I supposed to live if i'm that's almost like child support. Right, In child support, you had a conscious sho have a child, and you provide for your child. That's a different matter than Hey, I just got sick, and maybe I got sick because it's something at work or I feil or something along the way. It happens all of us at some point or another. And now
we're taking a quarter of your wages. That seems confiscate. How can you live on the other seventy five percent?
And I can I go back to what you just said. So we're not again, we're not suggesting that the state is paying medical bills. We're just saying we're going to have these parameters of credit reports, wage guarnership, and interest rates.
So I just wanted to kind of.
Yeah, that's fair.
I was.
I was referring more to what we did in Cincinnati not long ago when council approved a million and a half to a nonprofit that collected money and wiped out about two hundred twenty million debt for twelve thousand Cincinnatians and just buying the debt from the credit companies.
So I actually did that in Toledo about it'll be three years ago. So Toledo kind of led the way for cities. How to you with the first one? And so we actually eliminated debt for about one hundred and twelve thousand people around the region, including forty three thousand Lucas County residents. And that no profit is undue medical debt. They do great work, so and they negotiate directly with the hospitals.
So yeah, I contemplate that one because this is outside of your scope as a state lawmaker, Michelle Grimm. But the beef I have, like, for example, the government shutdown over Obamacare and the ACA. You know, we're fighting over subsidies. The problem it's not not healthcare. We're so we're taking money from a group of taxpayers and transferring it to another money of pad taxpayers without addressing the problem in
Congress for a long time. And we would need all this stuff if we would just reform healthcare properly instead of having Democrats and Republicans fight each other and and do this insane stuff. I mean, Obamacare, it's makes it doesn't make it affordable. Uh, it's extremely expensive. Is the problem? Affordable? CASM this no where you're just here, you're subsidizing something
that's extremely expended. Let let's figure out why we're paying you know, three times more than most double what most countries are for less health care doesn't make any sense.
Yeah, yeah, no, I would absolutely agree with that, and I would I would say that a lot of people in the healthcare space, looking at the core problem, which is our work at healthcare system would it would absolutely agree with that. And so I know we're here not to talk about undo, but what what what they're able to do is they're able to purchase that pennies on the dollar from hospital systems or second second the secondary market.
But you know, people do uh people have you know, I've gotten I've gotten a lot of emails and a lot of calls saying like I got a letter from New Medical Debt, thank you very much. It really did help a lot of people. But yes, you are correct, and does not solve the broken healthcare system, right, And you know that's what you know, that's what we need to keep working on. And so bills like House Bill to fifty seven, they make the rules a little bit fairer, but we still have a lot of work to do.
Yeah, you mentioned Logan County Small and Logan Counties right in our listing areas in the I think around the
where the Armstrong Space you know, WAPA Canetta up that way. Yeah, yeah, about an hour an hour and a half hour forty minutes from us here in Cincinnati, So Logan County pastor and if you're going up north to Toledo, for example, so in that county you said that you know, they're garnishing people's wages and like, and I kind of get that in a sense is I don't know if they're being confiscatory and it's you know, the evil capitalists twirling his mustache in the corner lighting a cigar with one
thousand dollars bills. But in some sense, hospitals, and especially rural hospitals are under struggles right now. We're having a number of them closed as result of the healthcare system, which is not going to serve anyone in those areas. How do you ensure they still get fair payment while protecting the patients from excessive debt collection practices.
So I think what's going to hurt our rule hospitals in the long run is the cuts to Medicaid and Medicare and also the increased costs because the ACA of the subsidies may go away. So that's going to be really where they're going to hit get hit the hardest. It's not gonna be because they can't put it on our current report or they can't garnish wages. A lot of hospitals actually don't garnish wages or sue their patients. This is actually a pretty aggressive practice with this one hospital,
because actually a lot of hospitals don't do that. They tend to try to work with the patient or they or they send it to debt collection, but not every but not every hospital does that. Couples of hospitals in the area in the state have said that this doesn't this build has two fifty seven doesn't really affect us. It doesn't affect our operations.
So but.
So yeah, that's what I would say, is.
That maybe it's just but maybe more like the rural I mean, because you look at rural areas that are losing population and they've got one hospital or clinic and now you've got fewer people in there. So I get the model. Whereas in Cincinnati and Dayton, Toledo, in bigger cities, you can absorb those costs, but better you have more people to draw.
Yeah, but again I think that what's coming down the pipeline here is our cuts to Medicaid and our cuts to Medicare and the AC subsidies going away is really going to hurt our rural hospital systems, not prohibiting putting medical debta critical.
It's a hospital two fifty seven, and medical debt is a crisis in America, has been for a long time, of about sixty percent of our consumer debt. This would limit the interest on that to three percent. A heared capit of three percent interest, ban wage garnishment for medical debt collections, and stop hospitals and providers and debt collectors from reporting that debt to credit agencies provided you're paying something.
I mean, isn't it safe to say?
In the end, most hospitals, hey, listen, I owe all this money, and here's what I make. We've got to work on a payment plan, whether it's you know, twenty bucks a month or something like that, which you'll never touch it, but at least I'm giving you something. Does that satisfy most hospitals, they put the effort.
In, So, you know, I think I can't speak for the hospital systems, but certainly a lot of the hospital systems to work out payment plans. They also offer charity care options. People can ask for charity care options, and I would really encourage folks to do that. Just kind of look at all of your options. So if you do have medical debt or bills you can't pay, ask questions. So this is kind of my call to action for everybody. Ask questions. Ask you know, hey, why was I charged this?
Or can I set up a paynut plan? Or hey,
I can't afford this right now? So I would say keep you know, negotiate with the hospital or the deck collection agency and just make sure that you're uh negotiating that way because you you do have negotiating power and you can work on uh making sure that you you do, you do keep up with your bills and you don't fall behind and it does go on your credit report until you know, until just task so so so yeah, I would say, like, you know, just work, you know, talk,
talk to the hospitals, look at your medical bills, ask questions, and you know, the hospitals should be happy.
To work with you.
Right.
Uh, Michelle, you have biopartisan support for those a bipartiination.
Yes, yeah, absolutely. It touches every So my my joint sponsor is Representative Jeane Schmidt. So uh, I you know, it touches everybody's district, everybody's district. Yeah, so you know, it's not just rural districts or urban districts or suburban district is everybody's district and everybody everybody knows someone who
has had medical debt or has medical debt currently. And you know, again, we want to make sure that the playing field is a little fair for people, and we want to make sure people get ahead and not keep them down. And I think the House will two fifty seven.
Uh.
While it doesn't fix everything, it makes us a little bit closer to uh a fair system.
Yeah, it makes sense.
Jeene Schmid in the sixty second district, so you know, fairly rural area is there to Claremont County, so it has urban and rural support. And and it's bipartisan, which I like a lot. And it also helps people and it doesn't seem to unfairly incentivize someone not to pay their bills, which which I like. She is Michelle Grimm, Democrat at Toledo House bill fifty spence two fifty seven, along with Genie Schmidt here in Claremont County, and I wish all the best. Thanks again for coming on the show.
Thank you, Scott be Well.
Yeah, we can talk more about this too.
And I know there's people that just dig their heels and go, oh my god, how it's more welfare for Yeah. The problem is this, you know we have now double we spend a triple rather the amount of money we spend on healthcare. From two thousand to today, the number has tripled. And you know when you have sixty percent of consumer debt on credit reports. It is because of medical issues, medical bills that people can't pay, and a declining number of businesses are offering health insurance. That is
a catastrophe. Maybe you're feeling that yourself and your family your thoughts five one, three, seven, four, nine, seven thousand and eight on the Big One Talkback iHeartRadio app. We will get your calls in and got more just ahead here on the Scott's Loan Show right after News I on seven hundred WI. It's a Scott's Loan Show on seven hundred WLW. Lots going on this morning. We'll get into the shooting downtown in just a second. We're kind
of wrapping up previous topic here. Just minutes ago, Michelle Grimm, Democrat out Toledo, a bipartisan effort, she along with Genie Schmidt of Claremont County, introducing House Bill two fifty seven to give her a lief to people who suffer for medical debt.
And I think for too.
Long in this country we have an argument like somehow for somebody gets debt really from that, it's somehow it's unfair. It's a transfernal wealth. Somebody's got to pay for it. It's on the taxpayers. But let's face it, because of the system that we have, we pay way more than we should, like double most developed countries for a lesser healthcare. Let's favorite, our healthcare sucks and we pay more than
anybody else. What's wrong with this picture? To the point where the amount we spend over the last twenty five years has tripled, not doubled, tripled. Just let that sink in for a second. And for sixty percent of people who have consumer debt, you'll get credit, pull a credit report. Six out of ten people the number one source of
debt for them is medical debt. So that means if you're servicing debt on something like healthcare, which we all need at some point or another, unless they're extremely lucky or you die young, you need health care. And so the end result then is that we pay a lot for something that is definitely necessary, and now it prevents
you from spending money. Let's say you own a small business of food truck, whatever it is, and now someone instead of maybe using that money to go and buy products or services from your company or the company you work for, the end result is it has to go into servicing debt. And interest in all that other stuff because it's debt, and then that person is going to be hard from them to buy a house by a car, get a loan, and you see the effects of this.
Something has to be done about it. And this has all been a band aid approach so far, certainly with what Congress is doing right now relative to health care Art's band aid stuff. The real core of the issue is how do we fix healthcare so it's not so damn expensive. One side wants a lot of subsidy. The other one doesn't have an answer really other than we don't like subsidy and socialism. But okay, that's fine, So what does that look like? And yet they won't address
that core issue on that topic real quick. Is carlon Mainville on seven hundred W Dowty. Thanks for checking in, Carl, what's up?
Yeah?
I just wanted to share an experience that my daughter had.
She has three kids and they're married, and she was diagnosed with cancer and they had all these scans and they had to go through and remove their limp notes and it was pretty intensive surgery, and her insurance coming I think over that period of time spent pretty close to over around three quarters of a million dollars covering some of her care, but then she was left with a balance, and she tried to work with uc on trying to cover some of that balance, and they could
never come up within a payment. She's They just kept telling her, well, your payment's too Oh, that's no good, that's no good, and boom, they turned her over to a collection agency, put a lien on her house, try to guarantee your wages. And here she's going through cancer, but she's supposed to be calm and RESTful and all this stress that they put on her with their three little kids, right, was just unbelievable and ruthless.
Yeah, and I get I get the fact that the hospitals and the providers need to be made whole because somebody has to pay for it, right, And I get that, and it seems cruel at the time because you know, I mean, do you really need to deal with bills and worry about that when you're fighting for your life so you for your children and your babies because you have cancer. No, no one wants to go through that.
And and the problem can be fixed, I think, but it's going to take an effort better than we're getting from our elected officials right now. If this issue touches all lives, young, old, left and right, black and white, male, female, then then damn it, there's got to be some sort of uh, there's got to be some result on the part of our lawmakers to do something other than just you know, continue to band aid relief like this is this will help this bill. But the core issue is
the fact is healthcare is out of control. When it comes to expenses, it's got to be blown up.
It's it's out of control. And I think you do need to look at individual cases. But for the lack of compassion and for the millions and millions of dollars that you see gets in just grants and donors and everything else, it was just unbelievable, how cruel and uh, this whole process where they end up having to sell their.
Own to the can you imagine.
I mean, well, I APRAI she's better than things that have since gotten better for.
Yes, And I mean it had like I said, they had to tell.
So many people. Yeah, I appreciate it. Thanks, I'm glad that things are going better. But this is just a horror stories.
What that is?
Uh?
Does that really should that be happening in our America right now, I mean happening, but should it and we can do better, But it starts with those we send to do our bidding to Washington, and uh, I don't know. I think maybe in the future, and we'll get more of this later on during the course of the show.
But I think in the future you can almost sense and you know, I know that what the Russians talking about, there's gonna be a civil war, and I know there'd be a civil war, but there's gonna be a great a great change I think is coming. And we thought we might get that someone with Trump, but in this aspect, it hasn't been touched yet. Anyway, It's five one, three, seven, four, nine seven the Big One talk Back iHeartRadio app Also, I will point this out. Last night h and an
issue close to home. Of course, we had another shooting at Fountain Square. So you know what is that if you're doing if you're doing the math on this. By the way, last week, two guys fired handguns across the road in rush hour traffic. One guy was shot, his car was shot up to but rush hour traffic, two clowns pull up guns because they had some stupid beef or for some petty crap and decided to shoot each other. Luckily, no one passerby was injured. Last night, it happened again
at Fountain Square in front of City Bird. Two people in custody, One ran off, that person was taken down by a CPD officer who is working to detail at the square. Another person who was the subject of the gunfire was shot. So they were injured, and so you got a person suspected of firing that weapon. The s flood the scene was apprehended, thank god. The other person who's shot has been as well. So you had a couple of peoples shot last night. Fortunately no one at Citybird,
no one on the square was shot. As all of this, we've had eighteen shootings to date in that area in particular, and I thought this was supposed to be We're going to get tough on crime. We've got curfews who've got everything else, and it just it does not seem to be working at all. It doesn't seem to be working. And what is a solution. I think that's a good question. Liz Keating, of course, former council person's also running and she's checking in the show this morning.
Hey Liz, thanks for collinga. How are you.
I'm good, but I'm set up. I am absolutely set up with all of this going on.
Is that why you're running again?
Because you know, you were council person and then other people said, now we need more touchy feely folks. We've got to you know, we got to care about the envirore, We got to worry about all this other stuff, and you know, took our eye off the prize, which is you know, number one is public safety. We've taken our eyes off the prize is this and I told you so kind a phone call.
It's a bit of an I told you so, and it's a bit of everyone is fed up and we need leaders down there that actually care about.
Keeping people safe.
That is the number one job of local government is to keep people safe and be able to respond in emergencies. And council is sailing at that number one job right now.
I can tell there's an election because right after the shooting there was a statement by the mayor, f Ted Peirval, who said the violence is beyond the pale and intolerable. Normally would take weeks for him to respond. Apparently there's an election coming up, and now it taking minutes for him to respond.
Isn't that progress?
I mean, let's look at council for a second.
I mean they have long public Safety committee meeting this morning. We've consistently heard that Council has prior archise public safety. Yet only four of nine council members serve on the Public Safety Committee, only four.
They only have two items on their agenda.
They have not met in two weeks.
So We've had two shootings on Suntain Square and they only have two items on the agenda, neither of which are talking about shootings that are going on in the heart of downtown. They've only had five items on their
agenda over the last six weeks on public safety. Where is council when this death matters like we have had shootings and particularly kids being shot and killed the entire summer, and we are still yet to see actual activity coming from Council, who, by the way, they appropriate the funds, they make, the legislation and the policies that can fight this, and they are they are nowhere. All we're hearing from Council is the numbers are going down. Everything's fine. Don't
look over here. We're all good re elect us.
Well, it depends on what numbers. It depends on what numbers you're looking at right now. But in particular one of the property crime break ins that those numbers are again and in this case, we've last year at the time, we have ten shootings. Now we have eighteen. That seems up to me. Listen to you, I'm not good at math, LIZI you tell.
Me it is.
Yeah, yeah, I mean it.
It is significantly higher, particularly in our urban core, and we need leaders who are paying attention to that. But we also need leaders who care about whether or not people actually feel safe, because if people don't feel safe, they are not going to go downtown. They're not going to go support those small businesses that are the livelihood of so many families in our city.
We have got to have council members who actually care about this.
They care about keeping people safe and making sure people feel safe. Yeah, but tech we either it's happening right now.
Should we just.
Pay people not to commit crimes? Wouldn't that be the easy way? I mean, we subsidize everything else. They're just talking about that with healthcare. Why not just pay these people? I think that was jan Michelle Iman Kearney's proposal, we'll pay people not commit crimes, So what's wrong with that?
It is absolutely absurd. You got to be tough on crime and the causes of crime.
You cannot just say you decide we're going to pay people with no accountability whatsoever because it's no partnership with the actual police department, so no way to track to see if somebody that we're paying to not shoot is not shooting somebody else. If people are actively shooting, they should be in jail. We should be off our streets.
Where Julliz keating, we're downtown fairly regularly. We're overdue for a visit downtown in a staycation, which I love spending money in our city.
I really do.
This does not dissuade me from going down and doing that, hopefully. Some people said, I haven't been downtown in years. Other people say it doesn't bother me at all. It certainly doesn't help when you have things like this going on, because it does make you one look over their shoulder. But I will say that it's starting to have that kind of effect. I mean, I don't know. The River Roots thing didn't really go off as they thought, and
it may have been the planners. But I can't help but think that when we have events and we don't have as many people showing up, this may be one of the factors involved.
I think it is one of the factors. I think a tough economy is also one of the factors. But we knew this coming, and we've seen the economy shifting, We've seen prices go higher. We knew that when this happens in the economy, that crime goes up, that.
Mental health issues go up.
There could have been work going on two years ago to prevent this. Everyone saw it coming. Everyone isn't pointing out that this is coming, and we saw no action from council.
And you're right.
I will continue to go downtown. I will continue to support those businesses because those that is so critical to continuing the success of our city. But I will not sit by when we have council members who just keep saying, don't worry, crime is going down, Everything's fine, We're doing a good job. We have to have leaders who are not satisfied until crime is at zero and people feel safe.
And the problem for me is in seeing this is then we have Okay, we're going to spend some money we're going to take four and a half million dollars and we'll give the kauka. But then you start looking through and it's like, there's programs, so this program and
that's how it passes. Obviously, somebody gets their program, and as far as I can tell, not all of them, but there's a good number of programs that exist just to fee the rabel rousers in a sense that we're going to take this money and we're not going to be accountable for it. It's going to pay someone off. We're going to have a minister, we're gonna have someone to say, we're gonna get this my well, what have you done?
Nothing?
And I point out because I you know, Iris Rawley's son, right, what was he making like sixty bucks an hour or something like that to be an ambassador? Who the hell's get sixty dollars to stand around Fountain Square and do what.
I mean? My problem is that they're waiting until right before in election you spend that money.
Where was that money being spent.
Where were these programs being spent at the beginning of summer when we were seeing kids being shot and killed every single week. This is the kind of stuff that as soon as you put the programs in place, as soon as you start spending the money, you come back at Public Safety Committee meeting and you check on it every week.
How are our numbers? What are we doing? Is what we're doing working. When I was on counsel, I led the Main Street.
Task Force when we were having shootings on Main Street
every single week between Central Parkway and Liberty. We met on a weekly basis with different organizations and departments to continue to be relentless on solving the problem from a holistic standpoint, whether that's parking enforcement, health enforcement to Health department to shut down illegal food vendors, is working with Uber the geo fends to pick up in different areas so you can move some of the drug dealing in the car sitting around, moving that along.
But we spent time.
Downtown at Q three am on Saturday nights when there were the problems, to see if the work that we were doing was actually working, coming back and reporting and figuring out what more changes you have to keep showing up every single day with the result to solve the issue. And we're not seeing that. We're seeing a bunch of money being spent right before an election that money should have been spent months ago when we saw this going up, and then constantly needing each and every week to see
how it is working. We're not seeing that. We're just hearing from council members saying numbers are going down.
I think I speak for a lot of people, and I said I'm tired of them spending money on programs. Assimilarly, there's no accountabilities, no jerseys. We're just giving, we're paying people off, and the problem continues to exist. The people we allegedly are helping aren't getting helped at all. It's just a transference of wealth and it's a skim is what it is. Similarly, Liz Keating, today, I think council's meeting to discuss food trucks and how to further regular
food trucks. We saw the problem, of course, with the after hours places that were open in many neighborhoods. Roselin comes to mind with a hookah lounge, and we've got shootouts at the hookah lounge and people hanging around on the street till three four in the morning all night long, causing problems, scaring people well, intimidating people, and also some violence going on as well, and we're contemplating what to
do about that. But meanwhile, one of the solutions was to cause the food trucks to shut down at eleven o'clock or midnight or whatever it was, which is, we're just punishing law abiding people for the sake of alleged public safety. But the optics of that are somehow that well, if we give with the food trucks, then the degenerates won't go when and they won't be able to eat, so they'll go home, which of course is the exact opposite of what you should be doing.
These people have no sense.
Yeah, I mean, we.
Cannot blame small businesses for the crime numbers when council cannot help.
Solve this on their own. It is absolutely.
Absurd, and it's absurd that it's taken this long for Counsel to act. When the food trucks we're getting those types of regulations weeks ago, it's taken them this long to actually respond to it. We cannot punish You're right, You're exactly right. We cannot punish these small businesses for
the crime going on. Now. There are some businesses that do create problems, and that's why we have certain measures to be able to whether it's revoking liquor licenses or shutting it down, if they're not doing what they're supposed to do and causing it. We have not seen that from the Food Trust venders, food Trust vendors. Those are small businesses are the lifeblood of our city.
That is how we support families.
That's how you get paychecks going home to support families and give them better opportunities. If we can't allow small businesses to thrive in Cincinnati, then we've got a real problem.
Yeah.
I think the bottom line, Liz Keating, is that we've got to get serious about these criminals. I mean, we live in a time where I mean, let's face it, the people are doing this are self absorbed.
Sociopaths.
I mean getting I mean and shooting at each other acrosses crowded street in the middle of the afternoon as commuters go back and forth over some beef or last night, what happened to fountain scorn front a city bird over some stupid argument, and guns are going to come out. Be damned everyone else around you. I'm sorry those people. We have a cancer, and it's a cancer of self absorption. I don't care how many programs and we've got to be gentle and we got to treat these poor kids.
I'm sorry you got that.
That's over. We've got to round these people up and incarcerat them. That's the only way out of this. And sadly we're making more degenerates like this causing havoc for our city. Liz Keating, thanks for checking in this morning. Good luck with the election come up as you seek the vote to be able to re elect to the council.
Thanks again, Yeah, thank you.
Change in Cincinnati, No kidding.
Another shooting last night. Sloany seven hundred wws and.
Here we go.
Sloany seven hundred other in this Tuesday morning watching Speaker Johnson talk about the government shutdown, I don't have the sound up, but I guess it's blah blah blah blah blah. And then maybe Chuck Schumer or somebody will pop on, or Jeffries will go on, and I'll say blah blah blah blah blah ah. So anyway, more of the same nonsense in the theater that continues, however, is as much as a theater as it is. There's still some impact with this. We know that there's people losing their jobs.
People who are laid off or furloughed worry about maybe making that mortgage, your car payment. Certainly that is a concern, and a real one at that, because this affects real people, just not in the numbers they would have let you to believe. Now, part of this, too has to do with forty one hundred employees across different government agencies may
be terminated. We'll find out there. And one of the areas that's under concerned and we'll find out tomorrow, is wealthy members of the military get paid.
I think that's a pretty good question.
The folks that are out there keeping the peace and trying to protect America probably should get a paycheck.
Who you're out there put your life on the line every day.
This and the other things to talk about with the Glenn Welling for the first time in the show. He's the executive director of the Hamlet County Veteran Service Commission. Glenn, Welcome, how are you.
Good morning, Scott. I'm doing very well and it's great to be on with you.
The thanks.
I appreciate thanks for your service. I know you're a Navy guy. Love me some.
Navy, go Navy, beat Army and well, let's start with that. Let's start with whether or not the troops are going to get people are going to get paid in the military. I think it seems like they found the money, they said, which goes to show you the seriousness of the shutdown.
Not that not paying our soldiers, sailors, and airmen and women and Coastguard for that matter, not a concern, but you know, they found the money somewhere, somewhere in the trillions of dollars and budget money that we have out there, Somewhere they found the money to be able to pay all the good men and women of our armed services. Allegedly, we'll find out.
Yeah, that's what I've heard as well. I'm not sure about that. I understand that perhaps they're looking at least temporarily within the research and development section within what is now called the Department of War. But I've heard the same thing.
But I agree.
Well, I, you know, spent thirty seven years in the Navy all totally, I went through a number of those government shutdowns. And I also have a daughter who's currently serving on active duty as a combat engineer in the Army, And yeah, I can tell you from my own experience and from what my daughter has relayed is that our service members are focused first and foremost on accomplishing our mission.
Yeah, but but you still need to get money and be able that you still have bills. Just because you're in the Armed Services doesn't mean you don't have.
Bills absolutely, And unfortunately, you know, lack of a paycheck can be a significant distraction and from focused on mission and caused increased stress and concern. So anyone looks thing should reach out to their elected representatives encouraging them to support what's known as the Pay Our Troops Act HR fifty four oh one, And that's legislation that ensures military members including Coast Guard, will continue to receive pay during
the government shutdown. And that's that's not a partisan request in any way. As a matter of fact, I also president of the Navy League Council here in Cincinnati, and we've pushed that information out to all of our members can encouraging them to do that as well.
Glenn, has this a fact that at all you foresee it affecting VA healthcare programs for our veterans.
Currently, that is not what we know at this point. Core VA benefits like disability pens and education payments are not currently affected by the government shutdown, and they should continue to be processed and delivered. At least that's what the VA is saying at this point. However, one of the things to shut down can impact is customer service and administrative functions. But in terms of those payments being processed from the VA, as far as we know right now, those are still being processed.
Well, that's the probable.
We need to do that because we have as I have to tell you because you're the head of the Hamma County Veteran Service Commission, but aging veterans, the number of those are growing two post nine to eleven service members. We know wait times are up at the VA as well. I hate to have this compound that.
That's exactly right, and we here at the Hamilton County Veterans Service Commission. We serve more than thirty seven thousand veterans here in Hamilton County and their family members and so by veteran, those who have received their d D two fourteen, which is their certificate of release or discharge from active duty, and we're here to continue to help support them.
While we are not.
The VA, we are here to help connect them our mission is to connect those veterans to resources at the federal, state, and local level. So that's what we do here at the Veteran Service Commissions.
Yeah, in part of you know, we've talked about long wait times and in reporting of dated at certain VA facilities. That that's part and parcel for the problem, I think too. But making sure that the VA can go on and taking care of the veterans that need that care and are leaning on that care just simply can't go away because of some silly government showdown. A shutdown doesn't seem like that's the case, which is.
Good news, yes for sure, Glenn.
One of the other issues facing the veterans, to particular in Hamlin County is the issue of homelessness. We probably see that more in Hamlin County because it's, you know, one of the biggest counties in the state of Ohio, and I know that number nationally has gone up for seven percent. What do you guys doing there to combat that and how much of that are you seeing, especially with the winter months coming.
Well, that's a great question. One of our core pillars here at the VSC is financial assistance, So we provide finani temporary financial assistance for veterans in need, and part of that is to include temporary housing. We also have relationships. As a matter of fact, we have a relationship with the owners of the Quality in Over on eighth Street, and there's an entire floor there, the sixth floor is dedicated to temporary veteran housing. We partner with hud that
to help provide financing for that. So it's certainly a focus area of ours, and we're looking to continue to expand that, perhaps two other organizations that can partner with them, for instance, like Easter Seals, Redwoods and other veteran service organizations here in Hamilton County.
Sounds like you guys are this boulder is rolling downhill in a good way because it wasn't that long.
I don't bring up the pass.
Glennus pre dates your service there at the Hamlet County Veteran Service Commission. But of course it was just about a couple of years ago where he had the scandal to kind of expose things. Things weren't being run correctly. Veterans were hanging in Limbo and Hamlin County. They couldn't get transportation and their healthcare, and a bunch of you they get maybe a bus pass or something like that, and of course puts strain on the other counties Claremont, Butler, Warren,
et cetera too. I'm glad to see that things are changed and change for the better, because we're not talking about that anymore.
Well, we are on an entirely new path, and I have to give credit to my predecessor, Orlando Sanza, who just did an amazing job of turning things around. You mentioned transportation. In June, we started a transportation service. We're getting our second van at the end of this month, and we take veterans from their front door right to their VA medical appointments, and so things are really really
moving forward here. We're so lucky to have the support that we have from our county commissioners as well as our outstanding board of commissioners here within the Veterans Service Commission.
We have also.
Engaged in a significant amount of outreach because if veterans don't know we're here and don't know what benefits, so we can provide to them that we're not able to serve them. So so many things. As you said, the boulder is rolling and we want to keep pushing it.
Yeah, we had moss on the boulder. Before it may have been backing up on your hands, but now it's going downhill and it's gained speed and we're doing we have to write people like yourself and there gluns. So I'm glad you're because I know what you did over Jayu University and now as EXECUTI Director Hamlin County Veterans Service Commission. No, it's in good hands. I also know too as a proud Navy man. Uh serve what thirty seven years you see? You know I was navy too.
Oh, I did not know that the US.
There were So I was stationed on the USS Abraham Lincoln. Are you familiar with that carrier CVN seventy.
Two, I absolutely am, yeah, so, uh.
It was I think five years ago. Uh, I flew in. It was a media thing. I flew in a buddy of mine, but a friend of a friend kind of thing is ahead of the Pacific Fleet to p Io, and I flew in, did some Navy training, got in, flew in on the carrier on the Atlanta somewhere off the Carolina coast. Was on that ship for I think about twenty four hours and flew back. I was there for about so I was in the service. Really about the good three or four days.
Well, thanks for your service.
Well, thank you.
Yes, it's good to be talking to a fellow seamen. And it's good, you know. And I will say that like you're thirty said America was never invaded in the twenty four hours I was aboard that ship, not invaded.
I'm sure you'll be getting a cry thank you.
For me, I would think, so, I always think so. I'm not quite sure what that gets me. I think I get like free ice on Veterans Day with any soft drink is what I'm entitled to for my my twenty four hours of service. But spectacular though, in all seriousness, to see just how the Navy inside operates and what the Navy means too, because most people think, okay, well what the basically we are the police for We're the
highway patrol of the seas, is what we are. If the US Navy seas to exist, all hell would break loose, all the shipping lanes would become for the pirates. You know, we saw what happened in Iran, remember the Somali pirates in that Tom Hanks movie. Of course, Captain Phillips, the Navy's the one that figures that stuff out. We make sure that your socks that you are darn Amazon, your socks are delivered on time every time.
That's what the Navy does.
Absolutely, We're insuring free trade across the globe, and we serve in every corner of the globe, and our sailors and marines are out there twenty four to seven below a pond and above the sea, ensuring prosperity for our nation and global security for all.
It's really cool to see at firsthand the men and women aboard our Navy's ships at sea and those behind the scenes that do the training and everything else. And it's really eye opening for someone like me. And my dad was in the served four years in the Navy too, so that one head home to me. I know also that the United States Navy probably the finest of all all the armed services of the unit in the world.
Celebrating the two hundred and fiftieth anniversary, two hundred and fifty years the Navy's been in existence.
That's right.
As a matter of fact, our birthday was yesterday and the Navy League is sponsoring our two hundred and fiftieth anniversary. Navy and Marine Corps ball coming up next Saturday, October twenty fifth at the CentOS Center. So it's right between our birthday the thirteenth of October and the Marine Corps birthday on November tenth, and it's going to be a fantastic of and we're looking to have a great representation
there from both services. And again, Scott, due to your extensive service in the United States Navy, we would love to have you come and participation.
You sat for guest speakers. You have someone you've got like you got like a four star. What do you got you got a rear admiral or somebody speaking because of you know, I'm available. I talk about my days, my day at sea.
That's a great question. And so typically we have a single guest speaker, but because this event is representing both the Navy and the Marine Corps, we wanted to secure a guest speaker from each. And folks may not know this, but eighty percent of our military force is enlisted.
I was an enlisted.
Guy for that period of time.
So I reached out to the.
Master Chief Petti Officer of the Navy thirteen Nickpond thirteen, a gentleman named Mike Stevens, who is also the CEO of Navy League National and asked him first, and so he is coming in to represent the Navy. And then a retired Marine Sergeant Major Brian Battaglia, who was the senior and listened advisor to the Chairman of the Joint Chiefs and that is the highest ranking listed person in
the entire US Armed Forces. Brian, Mike and I all three served in the Pentagon together, and Brian was the guest speaker at my Navy retirement, so I reached out to So the two just incredibly outstanding gentlemen that we have coming in to be our guest speakers. They're going to talk about the importance of two hundred and fifty
years for their individual branches. And as you may know, there's always some friendly barbs back and forth between the services, and especially the Navy and the Marine Corps, so they'll, I'm sure treat us to some of that friendly jousting as well.
Yeah a level.
It's kind of like cops and firefighters when they get together, right it's a battle between the two, but you're kind of on the same team, Navy Marine Corps. So it's a Saturday the twenty fifth, sentas right at six o'clock.
That's correct, six to eleven. And they'll be a pomp and circumstance both the Navy and the Marine Corps ceremonial activities related to it. Ceremonial cake cutting where we'll be honoring the youngest and oldest sailor and marine in the audience for the ceremonial cake cutting dinner followed by dancing. It's just going to be a wonderful, wonderful event.
It's amazing, all right.
Someone, if you're interested to hear this, maybe you're a Navy veteran, or a veteran of the United States Marine Corps, or I'm guessing just ordinary people like me can come to where you go for tickets.
Go to Cincinnati Navy League dot com and that's the homepage for the Greater Cincinnati Council of the Navy League and scroll down you'll see the link to connect for tickets to the event.
Right there, got it, all right?
Chief, thanks a lot, Glenn Welling, retired Navy Master Chief, Executive Director, Hamlin County Veteran Service Commission. The event coming up on the twenty fifth, But glad to know that at the end of the day here that no one will suffer who is serving our country or our family members when it comes to not getting a paycheck starting tomorrow in the fifteenth, because tomorrow's pay day, the eagle poops tomorrow. Hopefully it continues pooping for a while for people.
I appreciate it. Thanks for your service, Glenn, great to.
Talk to you.
Thank you, Scott.
All right, people, well take care there you go. Notice I did not get from Glenna. Thank you for your But that's okay, that's all right. That's I'm not gonna say it was a difficult twenty four hours. But well I can't. I can't divulge that we've got news on the way in about five minutes and coming up on the show on seven hundred WLW missophonia. Do you know what that is? Miso phonia? Maybe it's miso miso something,
miso phonia. You might have it, and you might go, wow, I didn't know there was a name for what it is that I have. And but it's not one of those Hey, this isn't a gonna be a twenty minute commercial for some sort of pharmaceutical product that you don't need. They'll turn Yeah, it's gonna solve your misso phonia, but it's going to make your eyegrash eyelashes, grow it down on your armpits. It's not anything like that. I don't know if there's a side of it. Was really interesting.
We finally have a name for something a lot of us suffer from.
What is that?
We'll get to it right afternoon. Sloaney continues on seven
hundred WWT Cincinnati. Sloaney here, seven hundred WLW. Well it she didn't make it public TI Friday, so I really didn't feel comfortable talking about it until she was fine with it, and I talk about normally at this time on Tuesday, Thursday, Tip Potter comes of us three things and maybe you heard, maybe didn't hert anyone on social there are some positions eliminated production and force, which is fairly common in our industry and common maybe in yours
as well too. It's happening with impunity across other sectors, just the nature of the commune, like and tiff and well Tony Pike from ESPN fifteen thirty no longer with us, and it's it's kind of sad because she wanted me to a couple things. I mean she's a friend, and I think she's awesome and one of the hardest working people I know, and kind of a ray of sunshine you need that these days.
She's just done, like I'll beat.
We may disagree on some things, but you know, more like a father daughter kind of sort of disagreement relationship too, But you know, in fact of Mather remains. That's the cold reality of business in today's business world, today's business climate, it's tough, and you're seeing that where you work, I'm sure. But she I know, she did want me to express how grateful she was for people who reach out to her and friended her on social and everything else too,
and she enjoyed her her time doing that. So yes, it's kind of sad to do that without her now because we've done it for a few year, like four or five, five years now, I think, And so it goes, you know, just another one of those things. And you hang around long enough like I have, you start to see that and go just it does kind of drain on you. But it's the it's the reality of things, for sure. So she's missed. I want to know she's missed.
It's called miso phonia, misso phonia affects one in five people.
What the hell is that?
Unless you you know my teas, I said, I'll talk about misophonia coming up, but maybe it's meso or miss so. I think it's mesophonia M I S O P H O N I A. And it's an aversion to specific sounds like, for example, chewing or sniffing or breathing sounds or whatever.
It might be.
One in five people suffer from it. I think I kind of do too. And maybe he said, ah, I didn't know there's a name for that. Certain sounds that
trigger intense negative emotional or physical reaction. Some people have feelings of anger or anxiety or disgust or panic when you hear one of these trigger sounds, like, for example, if you listen to someone chewing or slurping or lip smacking, or someone who sniffles a lot or breathes heavily or yeah, maybe it can be like a repetitive sound like someone like keyboards tapping or somebody's pen clicking, those kind of things. I think for me, if I had one, I've probably
got a few. Noil clippers are kind of like people go nails on a chalkboard that's a very common one. But like now clippers for me, when we have ads either on streaming or broadcast or on the radio and someone's whispering like you know what it was that as d R r D what you know I'm talking about. Like people, it's like a sexual thing for them to hear someone like the microphone or holding up eating a
taco very close to microphone. You can hear them that like yeah, that that that gets under my skin a little bit too. But the problem and maybe it's not full blow and misslephonia, the reactions are disproportionate to what's going on. I can normally go, Okay, someone's clearing the throat, but your reaction is I want to kill this person.
And it's really a thing too, it's diagnosed. Your body responds to it, so you have like it's basically a fight or flight response, and they measured it and you know your heart rate, your blood pressure can go up, you may have difficulty concentrating, which is the one for
me that's more by ADHD than anything else. But if I hear someone doing something repetitive like that in one of those things, it's like that's all you hear the room and it may lead to strained relationships with people close to you, including family members or spouses for that. And so they say it starts in childhood or early adolescence, and it's more neurological than anything. Not quite sure. They
don't understand the exact mechanism of how it comes. But there may be an abnormal connection between what you hear and the limbic system, which is the part of your body the processes emotions, and there may be something that's just disconnected there.
And yeah, it can impact your quality of life.
And it's one of those things they say, Well, you just simply you can't get over it. So now you know it's a name for something. Maybe you have it, maybe you know someone who does, and now maybe it gives you a greater sense. Now, as far as I know, there is no pharmaceutical concoction yet made to battle. Maybe there is, maybe they're using something off label, but there's I've not seen a commercial where happy people are dancing
around a I don't know. It looks like a food court or something like that, an outdoor picnic with all these pretty colors dancing around in circle, singing about the benefits of the drug. That's going to curb your misophonia. Maybe it exists, I'm not sure, but I have not seen the ad for it yet. I'm not sure we will. But now you know what it is, and if you know someone to say, could you not do that? It's
not just them being a jerk. Is it's actual science behind It's just like it's causing them a lot of harm. And it might be tied to autism. So I don't know. Maybe Tyland Ulstable, I'm not sure.
I don't know. I don't know.
No.
On again, I don't If I have time to get in this same I probably should. This is making the rounds on social and I have not seen it in my neighborhood, although I just moved to an neighborhood.
Maybe there's there's.
Hope still, How would you handle the situation, because apparently it's a growing thing, a trend of kids this time of year. Halloween's coming up, and what do you hand out at Halloween? You hand out hopefully some candy please, I hope you're not hand on a bucket of change or like an apple still or something like that. There's a trend now of kids expecting full sized candy bars instead of the fun sized candy bars, and some households are spending well over two hundred dollars on that candy.
I don't know what my candy budget is, but I know it's not two hundred dollars. I know it's probably not one hundred. But I'm in that place now. I got to ask some neighbors and go, hey, how many kids come rolling by here? Because I don't want to be running out of candy. I want to I don't want to run out of candy. I also don't want to have too much leftover candy because you know what happens to the leftover candy. I eat the candy, and
that's a problem. And that's a problem. But I'm just wondering what neighborhood is it where kids are expecting full sized candy bears. I know occasionally there are people that hand out full sized candy bars. Probably a nicer neighborhoods, or unless you know you're the Reese's guy that used to hook us up here and you have an olyments supply of Reese as well, you're gonna have out races.
I had a neighbor one time that worked. I think for the lays like the Potato Chip company and heat out bags like, you know, not not the full sized bags, but the lunch bag sizes of chips, which was kind of a nice thing. But now kids are demanding, expecting full sized candy bears and what does that look like. Well apparently instead of you had them a bag a candy and you had them, you know, a Snickers, let's
say fun size Snickers. Instead of saying thank you, they they're demanding like, well, I don't like that, I don't like that, I want skittles, or do you have nerds? Or yeah, it's not a convenience star. And apparently this has hit a nerve and it's kind of one of those things. It's become a buzz on social media that
parents and homeowners are saying. Kids are just demanding that you go get you get them the candy that they like, not the one that you're handing out, which you know is reflection back to our parenting that we and we said better.
I don't know if it was actually true back in the day.
I know, when my mom had cooked dinner, this is what's for dinner, and maybe there's something you didn't like, Well you didn't eat it, or you tried to pretend to eat it, and you'reford, this is what's dinner, and then by the time you're a parent, was like, okay, well this one wants chicken nuggets and this one wants a hot dog, and then okay, I gotta make this for un and it winds up being like a shorter cook. But we are the parents that let them down this.
So I can't help but think that if this is that this is what we set ourselves up for, kids are making it. Rather than being happy they're getting candy at Halloween, which is a one day a year kind of thing outside of maybe Easter. Now they're actually making requests for what it is that should be in their bag. And I'm sorry. You know how I deal with that. I wouldn't be like, well, I think it was. I
was reading the story. It's like Kelly Ripper or somebody was talking about this on their show and said that now they're going to hand out opaque bag so the kids can't choose, Like, here's a bag and there's candy in it, so good luck with that, whatever it is, you open it later, like you know what, now on top of the two hundred dollars, I gotta put each piece of candy in a bag because this dipstick from up the street doesn't like Snickers or Hershey's or whatever.
It is the easy way to solve that. Now, you don't get none, you get nothing. Oh yeah, you're right, I only have Snickers. Well I don't like Snickers. Okay, well guess what I do?
See yah?
Now, if they're persistent little craps, I mean I suppose you could tell them, depending on the age, going no, that's what we have here. If you don't like, you don't have to take one, it's fine, or maybe give it to your brother or sister. I'm sure your mom and daddle et or something like that. It's it's fine. I don't think i've ever had that where the kid's like what is that? That's terrible because generally it's like, you know, we tend to do I don't know whatever,
I know, kiss the fruit, flaffored stuff whatever. You're not gonna keep everybody happy. There's a lesson for you there.
Right.
If you're kind of old school like me, like, you're not gonna keep everybody happy. You're not gonna get what you want all the time. This is not how life works. Rather than grateful and thankful. It's like, you know, I don't have to give you candy?
Right?
You know this is there's no written contract anywhere it says on Halloween I have to open my door and give your unappreciative little little smart ass anything for that matter a matter of fact, hold on a second, reached down to our bucket. I'm taking candy because you're such a jerk. That's not a message. Who's next? Let the word get around the neighborhood. Sloan's not to be messed with. Of course my house just say my house to be called recovered in toilet paper. But that's probably got today.
Kid's probably more likely just to shoot you.
Wait a minute.
We used to tepee and soap, so, you know, let the air out of somebody's carts, something like a flaming bag of dog crap on the front of No. No, I just get like a dry bile to light my house up with an ak Why because I gave them a Hershey's instead of a Snickers. And some people are reporting that those who leave candy out, you know, the honor bar system, sometimes find everything stolen.
I've kind of heard of that as well. I wonder if it's the little.
Kids and not just like the big kids, somebody being stupid, But why would you steal like you put the you put a bowl of candy out there, they take the bowl and everything, and in some cases are committing vandalism. So I just I don't understand that. The lack of I guess we would call that manners just kind of a broader failure to teach kids manners and gratitude and being thingful and mindful of of those things that later in life we wished we had but we don't.
So I don't know.
I just wonder how many neighborhoods that's actually occurring in as to where the kids are demanding full sized candy. But I can't imagine a lot of places around so because again I bring this back to CALLI Rippa, I'm guessing that I don't know if Kelly Rippa or maybe one of her man servants are the ones handing the candy out and she's getting the second or third hand.
I'm not sure.
However, I wonder how many places around Cincinnati where this is actually happening, because I would love to hear that one or demanding full sized candy bars. It'd lose your mind if you went to a house and the candy to a full sized candy bear. I don't know how we communicated as kids back in the day, but it take about five minutes for the entire neighborhood to know that this house is handing out full sized candy bars. And we didn't have cell phones, you know, like texting
your buddies and everything else. I don't know how the words spread, but the word spread like literally within a few minutes the whole it was around the neighborhood. I just I have no idea how we how what our chaining communication was then. It was probably like a game of telephone. But still it was still remarkably fast. As
I recall, remarkably fast. It's slowly on the Big One seven hundred WLWT coming up at eleven oh seven on the show, Kirk Couchman is here from Americans for Prosperity, And as I watch speaker Johnson and my noted speaker Jeffrey speak, and I again, I don't know hear what they were saying. I don't know what the words were coming out of their mouth, but it probably was a lot of blah blah, blah about the shutdown that's going to continue with knowing insight while the other side is
wrong and we're right. Democrats are digging their heels in over healthcare, Republicans are digging their heels in and saying, well, they're the ones who shut it down because they want to hold this hostage. And I'm not quite sure who's right or who's wrong on this. If you're dining the Little Red or din Ina will Blue, you're siding with your team. Yeah, my team. Great. What it gets is it'scorse, more definite, more spending. And that's the thing that kills
us all is it. The longer and the more often we shut governments down, the more money it costs us, which of course drives up inflation of Couse, the money goes up, the chance of us becoming insolvent gets closer and closer, meaning we're what thirty seven trillion dollars plus in debt and that clock is ticking. Every day we shut the government down, it adds a trillion and a half to it. So we can keep it over seven
weeks and do it all over again. So that makes sense to you, It doesn't make sense to anybody I know. And I don't know how you can root one side or the other saying yeah, they're doing the right thing, you're not doing the right there's irresponds enough irresponsibile to go around his proposals. Many are so why don't we just have a balanced budget amendment? I think the closest we were to this was, I want to say, in the mid nineties, and we just couldn't get it over
the line. Now the argument against us, of course, would be, well, what happens if something big and what happens if we have COVID? We got to borrow money in order to pay people not to work, which I'm silly now, but during COVID it made sense at least for you know, a period of months like now, we don't know what's going on. You we're going to shut it all down. That was an emergency. War in the number we get attacked September eleventh attack, Okay, that's an emergency. We may
need to borrow some money. Well, this hurts that effort if indeed we continue on the path we are of course the cry as well if we have a balance, but that means we can't borrow them.
I think there's a work around for that. I really do, I really do.
And we'll get to Kurt Couchman about that in just a few minutes here right after news at eleven o six on the Scotsland Show on seven hundred WW on the Halloween candy thing, Nancy, you're on the sh Yo.
Good morning, Okay, good morning sun. What are your thoughts on treats instead of candy?
What do you mean?
What's a treat?
Like?
Are you talking about like not candy corn, like like not a candy bar?
But what what are we talking? Cupcake? Cookie?
No? I know, not not home big goods, right, but like treat it's like the leftover things you have to buy for your kid's birthday parties, little favors.
Things like that.
I don't think those are bad. I don't think. I mean, if it's a decent one.
I don't think it's if it's the if it's the really cheap spider ring, you know what I'm talking about, that that's a no go.
But something decent, Yeah, I go for that. Yeah, it's gotta be. Now, what do you got, ton, What do you got?
What?
What if I come to your house Nancy dressed as a spider man or I don't know. Maybe I'm gonna go as Taylor Swift this year. I haven't decided. What would you put in my bag?
Well, I don't know.
Like I had all these leftover birthday favors and things last year, so I set them out on one side and I said it can be out on the other side, and I let the kids choose, but I said to take whatever you want. And it was astonishing. Almost every kid chose the small toy or trinket, you know, Like one thing was like that balloon that has a rubber band on it. You blow it up and then you punch it.
Oh yeah, yeah, my house.
He loved it.
All right, that's pretty cool. So what what was a candy option though?
You know, a typical mix. I like to do a suffer like a blow pop and some skittle. I don't make the chocolate and the and the flavored candy together because it makes it all tastes.
Yeah, yeah, yeah, I get that.
Yeah, okay, so that's a good I mean, that's a it's a buffet. You gave kids a selection. Did any kid complain that you didn't have a full sized candy bar?
No, but the.
Parents said no, absolutely not. Halloween it's for candy, and put the.
Parents.
The parents complained that you were handing out Chatsky's instead of candy, Yeah it was.
And so I don't know. You're right, it's the parenting we're said in the example year, so I don't know.
You know, I did the same thing this year. Nancy had a little experiment for it. Do the same thing here and and said. And when a parent complaints, say, guess what you tell the kid because because your parent was rude and mean, you're not getting any candy.
Turn that thing around on them.
Oh no, it's a happy Halloween for all right.
I don't know, but.
Adult, your parents cost your candy. Nancy put it on them, make them say you know what you want that? Have them go take them to the store. Now get out of here before I turn the sprinkler on you. I like happy, happy Halloween kids, not get the hell out of here.
Scott's shoe.
All of the best Bengals coverage we got Thursday night football in town here at pay corps and you'll hear it. I don't know what the best Bengals coverage seven hundred w W Since do you want to be an American's only back on seven hundred WLW four thousand layoffs. Democrats railed against House Speaker Mike Johnson on Friday canceled another week of House votes. We had the ongoing government shutdown, of course, and more political theater and again, and this
is uncomfortable for people who fly. If you want to go to a national park. Hell, if you're a federal employee, you're scared. I get that. That is the real consequence of all this silliness that's going on. But largely it's all theatrics. It's all theatrics, because we could solve this thing if we really really wanted to, and that would be those we send to Washington, DC. They'd rather fight, draw a line in the sand and then stand for the people who fill their coffers with money so they
can get elected and re elected. And meanwhile the rest of America as a whole suffers because we're over thirty seven trillion dollars in debt right now. That number continues to grow. This would add like another trillion and a half to the debt if Democrats got what they want to keep the government open for another seven weeks, when we'll do it all over again. There's got to be a way to fix this on that Kurt Couchman. Kurt
is a senior fiscal policy follow Americans for Prosperity. Welcome to the show, Kurt.
How are you.
Good morning, Scott. I'm doing well.
How are you?
I'm doing I'm all right.
It's you know, the problem is, it's not the heat, it's the stupidity this whole Dan. We've talked about this before and it's nothing but mindless political theater. Imposturing and gesturing and who's going to blink first? And you know, Democrats are saying, hell, yeah, we got to have affordable health care, and Republicans are yeh, stick it to the Dems.
Make a lib cry. And meanwhile the rest of the country, the eighty percent of us who aren't engaged in that stupidity and pettiness, look at it and go, what the hell are we doing over here? Healthcare costs are extremely out of control. You you want to extend the Obamacare Americans, the ACA and basically take money from Pile A and transfer it to Pile B because it, yeah, okay, there's people who can't afford that. I people in my family,
people I know that can't afford healthcare. And need that money in order to make their payments able to afford healthcare. I get that, but why are we subsidized. It's not affordable healthcare. That's a scamminon of itself. We're just so sabasidizing it more and making look like it's cheap. It's still our money. We're still borrowing it, and we're drowning in debt each and every day. And the simple solution to this maybe not so simple as just simply balance
the budget and staff. These silly continued resolutions do nothing but cause us to borrow more money.
Well, there's a lot to impact there. Yeah, healthcare is far too expensive in this country. Health insurance it's too expensive. A lot of it is because there's just so much bureaucracy stained between patients and medical providers. And what the Democratic position in Congress right now is, let's just paper that over throw more money as a problem. Let's not deal with the underlying regulations, bad incentives, and all of that that are making care less high quality, less affordable,
less accessible. There's waiting lists in a lot of places, and that's really unfortunate. So we do need to tackle the underlying drivers of healthcare cost explosion. In terms of fixing the budget, there's a whole lot of pieces there as well. I mean, we didn't even have shut down nountil Jimmy Carter created them, and we have a process that's just a quarter of spending. So you wonder why it doesn't work, it's because Congress doesn't even do a
real budget. So there's all these different pieces. But right now, we've got to end this shutdown by getting the Senator pass the clean cr and then we can have all the conversations about how do we fix the place, how do we fix health care and all that.
Well, politically, if both sides benefit from a shutdown, depending on Hoo's doing the shutting down, who's perceived to be shutting the government down, then they'll never eliminate and never solve this problem because it's it's a way for them to gain attention. Why would they get rid of something that works for them.
Yeah, I mean, at some point it's going to become unbearable. There are a number of people that are continuing to work. I saw somewhere that seventy two percent of federal employees are continuing to work. Now they can't get paid until the shutdown's over, but the White House is trying to dial up the pain on things that are particularly salient to the Democratic senators that need to vote for this thing, so canceling infrastructure grants and energy grants and that kind
of thing. There are bigger conversations that need to be had, but again, we need to fix it. We need to get the government opened again, because the longer this goes on, there are things that we do need in the long run that maybe aren't immediately so important, that start to fall by the wayside. There's a lot of permits that don't get issued when the federal government shut down like this.
There's one guy over the Treasury Department who approves all new beer and wine labels apparently, and so you've got, you know, beer that's going to go bad and the losses to the brewers if these labels don't start getting approved.
Right Curt on that too. We've i think talked about this in the past, but what would that look like? How easy or hard would it be to balance the budget? Requires that the budget be balanced. I know, if you go back to ninety five, we're really really close on this thing and have grown apart ever since.
Yeah, we Congress almost did pass the Balance budget Amendment in nineteen ninety five. Have passed. The House needed two hundred and ninety votes to get to two thirds, and they have three hundred, and then it went to the Senate and failed by one vote. It turns out there are actually a lot of problems with that version of a balance budget amendment proposal. I talk about that in my book Fiscal Democracy in America, and I also talk about new versions of DBAs that actually are better, much better,
don't have the problems of the old versions. And the next time the balance budget Amendment becomes a hot topic, then maybe we've actually got a shot. And then in addition to that, there's you know, fixing the underlying process so that Congress has enough dials that it can turn, so that it can actually reach balance, stay in balance, and do it in a way that is politically survivable for members of Congress because you know, they want to get reelected, so they've got to be able to do both.
Right.
One of the cries would be, well, wait a minute, what if we fall to and emerge, for example, COVID hits like we had another COVID right now, It's not that coming COVID shouts everything down. We have to pay people not to work, which is a new notion. We've got to borrow more more in order that we can't have as bounced budget. We can't do that kind of thing. What about during an emergency?
Yeah, I mean emergencies take a number of different forms, pandemics, wars, recessions, you know, natural disasters, And it's totally appropriate and it's responsible budgeting to borrow for emergencies. Every BBA, including the good versions that I just talked about, has some sort
of a safety valve for emergencies. It should be high so that it doesn't the safety valve doesn't get abused, but it shouldn't be so high that it's kind of out of character with the Constitution, or that would let a small minority kind of play the hold up game in order to extract concessions. One of the reasons we're able to have a shutdown right now is because there's not some major emergency going on. This with pressure on I think Goodness putting pressure on folks to come to the table.
He can you imagine if we had some sort of major emergency right now, we'd be screwed, would we?
Well, I think people would get their act together. We'd reopen the government, the emergency would get funded, and whatever authorities what would be needed would be provided. So, you know, people will change their actions and response to changing circumstances.
What do you think is going to force them to act? I mean, we've talked about the debt bond before, which in less than twenty years we're not going to be able to service the interest on our debt. Pretty Much everything we spend it's going to go to that. We'll be upside down. And we know the major cuts and government will come and and everything we take for granted will become in jeopardy. It's not a manufactured crisis like a doomsday. It's a financial doomsday. But we can see
it coming. We can stop it. The only question is when does someone blank and say, Okay, we've got to really put the future of the country first.
Yeah, that's the scary thing. Bridge Stown founders and investments like catche Fund Investment Company. So the founder, Ray Dallio, recently published a book and he's been out there talking about all this stuff. He thinks we've got about three years plus or minus the year before we have what he calls a fiscal heart attack, and if that happens,
then yeah, we could have a debt crisis. And I guess at that point member Congress will get serious about, you know, looking at what doesn't work and how to fix it. But when you're in that crisis mode, it's just such a scramble. We would probably jack up taxes, we would yank the military out of the rest of the world, which you can make a case for it gradually,
but not suddenly, and so like it'd be chaos. So the ideal is to get ahead of it, fix the system, let the bond markets know that we're on a path to get this stuff under control, avoid the fiscal heart attack. But you know, we're working on that. We're hopeful that once we get past the shutdown that members of Congress will be a lot more serious about thinking, Okay, this was not fun, this was not good. How do we make it all better?
I wonder how much the conflict the said the demographic demographic shift in America, because you know, if you're older right now, the notion is that I paid into my these entitlements, they're not in toitements I paid for that. Well, you paid into it, but the people you elected, spend it out other stuff. That's that's kind of what happened. I know, we got a surplus here, let's spend that on something else. And they did that, and I was like, well,
now we're kind of got to borrow money. And then people are screaming about is that voice becomes dimmer and dimmer because you know, generations fade out and new ones come in. Is that also part of what we're talking
about here. It's just it's like a wait month. I don't know if we can wait three years, but a waiting game essentially, because I think younger people see the cold hard reality of the facts and they can't achieve the American dream that their grandparents, that their parents look on grandparents achieved.
Yeah, I mean, it is a challenge, and there are lots of different ways to fix it. In theory, it's a political problem where members of Congress don't know how to chip away at these challenges in a way that's politically sustainable for them. So that's that's really what the promise of budget reform, like fixing the way that Congress makes decisions is all about. But the reality is that
the surpluses have been sort of saved. It's the IOUs and the Trust Fund, and those are expected to be pleaded in about seven years now, so even you know, the surpluses will have been accounted for, and then there's still a big gap and it's going to have to come either through you know, benefit reductions or revenue increases. And revenue increases means taxing people who are working and often trying to provide for families and that sort of thing.
So it thinks, no matter who's going to have to bear the transition costs, but it's got to happen somehow, and so we need Congress to be able to do that tough but necessary work and be able to be okay with that.
Kurk Catchman with Americans for Prosperity on a balanced budget amendment simply because everything is so out of control. The shutdown is emblematic of that. How do you sell the city American people? Though, because Benjamin's saying is, hey, listen, we've got to balance a budget. That means we're going to have to make some tough decisions here and what
we spend our money in. Because you know, the edict of Republicans was, hey, we're going to get in here and have doze and we're to make these huge cuts and we're going to right side. We're quit our spending, and spending has since gone up to Republicans and Donald Trump.
Balance in the budget over a reasonable period like ten years or something. That's an eighty percent issue from the American public. So the question is how do you design one that actually works for governance? And the ones that I think have the best likelihood of succeeding would balance over ten years after ratification, after the thirty eighth date approves it, and wouldn't necessarily have to go to full
balance including interests. I could go to primary balance, which is current spending not including interests and revenue, and that's enough to stabilize the debt burden and keep it from exploding and causing all the problems. Long term, we probably do have to move closer to full balance, but it's just too big for Congress right now. So you know,
we have to do one piece of a time. And we actually did some polling about shutdowns right before the shutdown, and it turns out that another eighty percent issue is, you know, forcing Congress to stay in DC until they get the appropriations built done and in the meantime not have any interruptions and services for the American people. I mean, we pay for it.
It should be there.
So that's another thing that is part of fixing the system.
And not only that we should pay for it, we're going to pay more because of the government shutdown.
That's the worst part.
Yeah, I mean it holds back the economy, and not as much as some people claim, but that the bigger cost is that Congress ends up jamming through some sort of an omnibus appropriations bill with all sorts of blow and pork, and very few members get participate in the process. So we have a deficit when it comes to democracy as well when it comes to these big spending bills that are cooked up behind closed doors.
I don't know what hope we do have because the groundswell Republicans getting swept in and Donald Trump yet again was hey, we're going to cut taxes for everybody. We're going to tear issue tear if we're going to make everybody in America rich. Again, that's all great in some areas, it's succeeding. In other areas it's not. And you know we're gonna, Hey, we're going to cut all these programs, and we're not we're going to If you cut taxes,
you got to cut programs. They cut taxes, but they didn't cut programs.
Well, they kept taxes from going up, and there were some new tax cuts. The new tax cuts were more than fully offset with some changes to benefits programs. Really just good governments cleaning up making sure that people are actually eligible for the programs. You've heard some of the scary stories about Medicaid and the food stamps and all that. Those are modest changes to make sure that there wasn't as much waste, fraud, and abuse in them. There's a
lot more that needs to happen. Like in the long run, the major challenge is the imbalance in social security, but especially in federal health care programs. Almost all of federal health subsidies are outside of the appropriations process, and so if we just fixate on appropriations the twelve Bills, we're
never going to figure out how to fix healthcare. So that's why we're talking about we need to move Congress doing a comprehensive budget that has all of the spending, all of the revenue, all the tax expenditures, and then they can actually manage this stuff and weed out the nonsense and to make things you know, being and efficient and effective. And that's the way that we're going to be able to solve this problem.
Kash Man, You just dreaming here?
Is that what this is?
You just specball and dreaming because I mean it sounds good and mess people not in their head?
Ben, is it really going to happen?
Well, that's what we're trying to make happen. I mean, look, everything starts out as a dream and then it gets more and more concrete. This stuff is all introduced as legislation. Most of it has bipartisan support, and that which doesn't it should and will eventually it's going to have to. But you know, we're we're moving along and then there are nobody's really objected to any of these particular pieces. It's more like, oh, we just need to think about
it some more so. But like doing a real budget, that is the most basic thing that you can do to manage your situation.
Right, It's a job.
It's prescribed for them. Here's your job.
You've got one job, Congress. The job is you got to come up with a butts that's your job.
Yep, we can't.
We have done that job of We've done that job twice since I bet a voter and I'm old.
Oh, Congress has actually never done a real budget with everything in it.
Never, not once.
I mean, Congress started out as a really informal institution, and as it's gotten bigger, as society has gotten more complicated, it should have formalized the way that it makes decisions more and it just hasn't. And you know, we're kind of a generational moment where it's time to really modernize Congress, and so this is part of that agenda.
Yeah, I wonder if you can see younger people, I'm millennials but also gen zers like enough of this nonsense and take government back. I mean, the future is the hope, I think absolutely.
And you know people will often say, oh, we need to consider the twelfth appropriations built separately, and it's like why because you know, Congress, which was a Democrat led at the time, decided that that was the best way four or fifty years ago. No, I mean, like times have changed and our needs have changed. We need Congress to do things that make sense for today, not for what made sense to push back on Richard Nixon fifty years ago.
Yeah, Well, that's the nature of it. Always look back, but it was so much better than was it. Really, History is very kind as it not. Kurt couchment over to Americans for prosper Americans for Prosperities, a senior fiscal policy fellow checking in and once again restoring some common sense in Congress of Balanced Budget's Amendment could do that.
But we shall see.
I wonder if we fall off the cliff, and maybe as we're falling off the cliff, we try to do something, but by then it'll be too late. Hopefully, hopefully this can gain some traction. Kurt, all the best, Thanks.
Again, thanks for having me news on the way in.
Just about four or five minutes here on the Big one seven hundred WW Scott's Loan Show, and then we return. Andy Schaeffer checks in. We'll put all this together. We just talked about with the markets. The market's been kind of bouncing around a little bit lately. Everything was great and then Friday hit and it's all crazy. What's really going on in the underbelly of the American economy. Some people say we're headed towards another ready for this one,
another great depression like we had nineteen twenty nine. I'll bounce it off him see what he has to say about it. Just ahead. Scott's Loan show continues after news. I'm the home of the best Bengals coverage Thursday Night Football and then on seven hundred WB.
The time to talk about money, how to make it, how to keep it, and how to keep others off your stack.
This is all Worth Advice with Andy Schaeffer, Money time, bad money, Never sleep. Andy Schaeffer never saw well he does. He's really good at sleeping, but he's pretty good at what he does.
Is our expert when it comes to markets, investments, and your future financially.
He's with all Worth financially. Andy. Welcome, Thanks Scott, happy to be here, Yes, sir, so.
Markets are just kind of bouncing all over like a ping pong ball and an empty box car right now and then started out went back on Friday because of the tariff with China in this case where we gelt one hundred percent and then yesterday had cooled off and then China said we're going to hit you on your shipping and what the hell's going on?
Yeah, it's kind of funny, you know. Last Friday, the market's were cruising along and I had a couple of meetings that I look up in the afternoon and you know, they went sideways down about three percent, and you know, I was curious to see why. And it was because Donald Trump basically said that Chinese imports could reach one hundred percent tariffs starting on November first. Obviously, markets didn't
like that. I think he's not very happy with a lot of the response that he's getting from Jijiping and the Chinese. And in response, China basically said, all right, well, we're going to put restrictions on rare earth minerals, which is very important for us. And I don't think a lot of people understand what rare earth minerals are. It's
not diamonds, it's not emeralds. Essentially, what it is there's about fifteen to seventeen obscure elements, big words that are hard to pronounce, that are essential for inputs in electric vehicles, magnets, wind turbines, semiconductors, even our fighter jets. So it's not that the Chinese have a surplus or more than the rest of the world of these rare earth minerals. What they are good at is producing them and polishing them up.
To make sure that they are available for use. Now, the United States we have, you know, more of a surplus than China does, and the minerals, we just don't have the capacity to really produce them and process them the way that China does.
So it's an environmental issue, is what it is.
Yeah, Well, and that's it now.
I do think at some point, you know, we are going to work towards that because I think most of our society realize that we don't want to be beholden to the Chinese as far as rare as minerals go, particularly because it's very critical for our military and so obviously we don't want to rely on them for those but that can take years, Scott before we can get to the point where we can process as rare minerals
like China does. And so essentially what we've seen in the markets is that it's kind of been a resurgent of a little bit of tension between US and the Chinese as far as trade talks. I think we kind of forgot about it for a little while and this just kind of brought it to the forefront.
Yeah, and I'm guessing that this is why the crypto markets stumbled so badly.
Yeah, yeah, a little bit has to do with crypto markets as well. Now we saw a little bit of a rally there yesterday, but that falls in line with Trump walking back as comments on China as well.
I mean he basically said, oh yeah, me and.
Xijingping or good buddies, and we'll work it out and those types of things. And you know, this is more of the same that we've seen from the rhetoric from the White House with our relationship with China, and so I think a lot of investors right now are holding on to every word, which I think is a bad idea.
You know, this is just kind of par for the course and negotiations, and so I think the lesson here is just just hang in there, keep reviewing your portfolio and make sure it's in lign with your risk tolerance because we'll come out of this.
Yeah, and figuring out the rarest mineral thing too, because I think it's the country have a lot of it. I know Afghanistan has have some, but I think maybe India. Vietnam I think comes to mind as well. And you know, back to the tariff thing we're hitting in Vietnam with tariffs or these countries with tariffs.
Does that make a lot of sense in your opinion?
Where We're okay, the tariff experiment's gone on for a while, I'm still not seeing the results of this.
Andy Well, I think we are starting to see to where we have a little bit more leverage in China, and I think we have seen some progress. We got a good deal with European Union, we received a nice deal with Great Britain. But you know, in many senses, those countries don't matter as much as China, Mexico and Canada. Those are big trading partners right right, And so you know, as this continues on, I think Trump is playing the slow play game. I think he feels like time is
on his side because inflation has been fairly calm. We're seeing it tick up just a little bit, so it feels like he has leverage in this regard. And furthermore, think of it from the Chinese perspective, if we continue to put pressure on the Chinese. Essentially, China needs access to our markets. We're the largest economy in the world. They sell most of their goods to the United States. So if they don't have access to sell their goods to US citizens, they will fall in a very deep,
deep recession and they can't afford to do that. So I think he feels like he has leverage there. Hopefully again, we'll come to a deal before the end of the year. But we've been talking about this Scott since you know, March and April, so it remains to be seen.
Yeah, I mean, the crowd was okay tariffs and we are the United States is hauling in a lot more money than we have when it comes to tariffs. I don't know where the money's going. It's coming back to us, right is they say, hey, we're gonna have all these manufacturing jobs now. Granted that's going to take a while, and there was a campaign promise, but you think we other than maybe a few here or there, we'd start to see things moving a little faster than right now.
Because we are an impatient, peaceable it's something that takes ten years, we want it done in six months.
Well yeah, I mean look at you know, the the Intel factory and Columbus that were scheduled to begin. I mean that's that we still don't know where that's going to be. And that was going to be a big boon for the Columbus area, and I think I think what we're seeing is more of a shift and business approach, not only domestically but internationally. You know, we're not necessarily seeing these these large manufacturers, you know, open up these
processing plants here in the United States. But what I think you're starting to see is a shift in the approach of the c suite decision makers within these corporations to say, hey, we at least have to have some type of presence in the United States. We have to have alternatives to producing a lot of our goods overseas. And I think at least the planning is in the works for these companies to have more of a presence here in the United States. But again, like you said,
it's gonna take years for that to occur. But I think at least the ball has started to roll in that direction.
Andy Schaefer over at all Worth Financial and Simply Money and a little Financial tune up on this Tuesday morning on the Scotslan Show on seven hundred w I've just been a crazy few days here. We haven't had some crazy days in a while, and the upward trend line has been going gangbusters for a while right now. So yeah, a little correction is to be expected when things are the way they are, how much, and I think this
tells you everything you need to know. Everything we talked about the markets bouncing up and down had to do with tariffs on China. Markets don't give a damn about the shutdown, do they?
No? No, And I think that.
Everything you need to know is right there, right, yeah, right, you know, because at the end of the day, you know, certainly there are going to going to be some jobs are at risk with this shutdown, But for the most part, the labor market here in the United States is strong, and so as long as the consumer has the ability to earn a wage, that translates to more spending and ultimately higher stock prices.
And so really it's about the strength of the job market right now. Now we're starting to see a little bit of cracks there, and I do think that there is some market fatigue with most investors. We've been on a three year role now where the market has done great, and so I think I think the one thing to note here is that we do experience a lot of corrections, which is a ten percent decline or more in the
stock market. Those are fairly common since twenty fifteen. The S and P five hundred has had eight declines of roughly ten percent or more, including the one that we.
Just had in April.
So if we do see a correction of ten percent or even a bear market, which is a downward trend of over twenty percent, you know, at the end of the day, the economy is still expanding, and anytime that we see a pullback in an expanding economy where our GDP is positive, those are usually short lived. What we're mostly focused on is the probability of recession risk, because those tend to last a little bit longer from a market correction standpoint, and I would put that probably about
recession risks, probably at about medium right now. So there are some things to keep an eye on, including the cooling labor market, but we have our eye on it.
Yeah, And the shutdown thing is just I mean, you're pregnants. It's like me a theater because it is. And I'm not going to diminish, of course and downplay the people who are losing their jobs or furloughed as a result of this. That's serious. It's money, that's your neighbor. But statistically speaking, it's a very small percentage of the population. And on top of that, and I pointed this out last week, is something like this only affects eight percent
of total government. So those who are shutting this down and say we need to shrink government, need to make government smaller and shrink it and shrink it, they're still funding ninety two percent of government. This is not really what a lot of people may. You know that the battle between the political hacks on the left and the right, and the reality of the thing is this is just theater.
It doesn't mean a damn thing.
Well, I think there are two areas that have me a little bit of concern where that could put some political pressure on Washington. One of those is that we're starting to see absenteeism among air traffic controllers and CSA agents, and so you know, imagine, if you know a lot of people travel for work, a lot of people travel for fun. If we start to have delays at airports, that's going to put a lot of political pressure in Washington.
And furthermore, you know, in my line of work, what's more concerning to me is a lack of data that we have access to, whether it's inflation data that's not going to get announced you know, some rate cut decisions that are kind of being made in the dark because we don't have this information. Because as far as interest rates are concerned, if we don't have the correct data, it becomes a lot more treacherous for the FED to
make those decisions. Now, we're going to get some speeches from a lot of the FED members you know, today and throughout the remaining part of the week. FED Shair and Pal is going to speak today at twelve twenty pm, So we'll see what they have to say, but hopefully we'll get some guidance from them of how they're approaching their decision to cut rates. I do still think we'll probably get a recut this month and probably another one in December, but it's hard to.
Say because they just don't have access. Yeah, you just don't have access to the data.
So but again back to the idea of this as being theaters, these things that you just mentioned are enough to make us uncomfortable and pay attention that there's a shutdown right The fact that I'm waiting longer in airport because TSA or you know, Nashville had to shut their tower down for a few hours is a pain in the bottom and get rerood diverted. My flight's canceled. That's an inconvenience, it's a pain in the butt. The report's
coming out. As you mentioned, it makes your job harder to do as well, so they just want to make it. It's theater in a sense. It's like our national defense. All the core stuff is still working behind the scenes. Those people are still getting paid, but it's the ones we notice, and that's it's orchestrated that way. I know that the economist slash reporter Andrew ross Orkin is one
of the names out there that's leading this. This is nineteen twenty nine all over again, because when the markets are up, we had three years of growth, the economy soft, there's an underbelly, there's a bubble in AI right now, and October has always been a bad month for investors.
The October effect as well.
If you look at the history of crashes as you have, you know the October effect is somewhat a real thing. All of that together, October effects, October effect, and the economy and the underbelly economy. Right now, do you think that we are on the verge of another worldwide American specifically global collapse of the economy like we had with the Great Depression.
No, no, And I think you have to understand that there are really three types of recessions. There is a cyclical recession like we normally have in general business cycles, it's a part of our overall business cycle. We also have we consider a venture even recessions like we had during the pandemic. Those usually are very sharp down and very quick and sharp up back to normal. But then we have what we call structural recession like we had in two thousand and eight.
Those are the doozies. Those are the ones that we try to avoid.
And as far as the economic data that we're seeing, you know, our growth is still remaining positive, the labor market is still interest rates are starting to come down, and so when I see some of these publications, authors of these publications, a lot of it is fear mongering in my opinion.
Now, that doesn't mean that we're not going to see a pullback.
We could easily see a ten to fifteen twenty percent pullback over the next you know, six to twelve months. However, I don't see a major collapse on the horizon at this point because most of our data is fairly stable.
Okay, And I think that's probably what most people are saying, is like, well, you know, we we learned a lot from nineteen twenty nine. The other thing, in nineteen twenty nine, we had everyone was borrowing money to invest in stocks. They never realized that if it went and he had direction, they'd be left holding the bag and they have a
you know, basically, what does a margin call? Now, I owe all this money that I don't have because I borrowed because the my investments, my stocks kept going through the roof, and so you just borrow more money and get more in debt, and that wiped a lot of people out. We have things in place to prevent that from happening. Now that's different.
Yeah, And I think that's exactly what happened in two thousand and seven and two thousand eight with the housing crisis, right, I mean it's almost identical. People were borrowing, lenders were giving them money make no sense, things that right, things they couldn't afford, and you know, that's why we had a significant collapse then, and that was really hard to recover from. And so we continue to put more guardrails
on that. You know, we we put more stringent lending requirements on banks, uh, with a little bit more scrutiny. And before that, you know, the lenders were just well tell me how much you make? All right, here you go.
Yeah, yeah, Well that was also precipitated by bad government policy, you know. And back then in eight that was precipitated about help Obama. Bush had a hand in that too, going well, we can't not have people have houses. And then of course you had people in communities and the like that are affected, going here, we're redlining. You're preventing us from getting real estate. And so they just hope and said, Okay, we don't want to be labeled as racist or classes.
So here, here's just.
Take some So what we had is people buying houses with no money down. As a matter of fact, one of the first deals, because Michelle just got into real estate then about a couple of year, Yeah, she had a deal. We couldn't figure it out that someone came and bought a house and I don't know what the house costs. Let's say it was one hundred and fifty thousand dollars. They didn't put any money down at closing, and a closing they got to check for five thousand
dollars so they could buy furniture for the house. I'm like, how do you buy a house and not put any money down? Of course what happened was, you know, we had that the stock market that crash with housing and now everyone's upside down, and they, because they had no skin in the game, would trash the house or just leave the keys sitting there and just walk away from it. And you know, we I guess that's a example of maybe what we've learned from But history always repeats itself.
It might be in a different fashion. I don't know if it's going to be AI or not, but that certainly is interesting when you put in historical perspectives. Anyway, he's Andy shafferd all Worth Financial. The show is simply money tonight at six o'clock on fifty five KR. See we'll talk again next Tuesday, Buddy, be well, okay, Scott looking forward to it, Yes, sir, you got it. We'll get to news and then Willie takes over at twelve six Today we've got football coming up Thursday night. All right,
it's Tuesday Wednesday, two more days. We've got football in NATI. The season, the season hinges on the Steelers and the Bengals, if they can get it done Thursday night, there's a chance, there's a really good chance, if not not so good. When's Opening Day? Seven hundred W. Cincinnati