The Charlie Kirk Show - Are the Kids Actually All Right?
Aired: 2025-07-22
Duration: 37:41


=== Student Debt and Big Business (09:58) ===

[00:00:00]  Hey, everybody, Charlie Kirk here live from the Bitcoin.com studio.
[00:00:04]  Sauger and Jetty, we have a great conversation about debt, BNPL, young people, Israel, and more.
[00:00:11]  And then I recap my viral conversation with Tucker Carlson, which you are able to listen to on the Tucker Carlson podcast page and so much more.
[00:00:18]  Email us as always, freedom at charliekirk.com.
[00:00:20]  Subscribe to the Charlie Kirk Show podcast.
[00:00:22]  Get involved with TurningPointUSA at tpusa.com.
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[00:00:27]  Start a high school or college chapter today at tpusa.com.
[00:00:31]  Buckle up, everybody.
[00:00:32]  Here we go.
[00:00:33]  Charlie, what you've done is incredible here.
[00:00:35]  Maybe Charlie Kirk is on the college campus.
[00:00:37]  I want you to know we are lucky to have Charlie Kirk.
[00:00:40]  Charlie Kirk's running the White House, folks.
[00:00:43]  I want to thank Charlie.
[00:00:44]  He's an incredible guy.
[00:00:46]  His spirit, his love of this country, he's done an amazing job building one of the most powerful youth organizations ever created.
[00:00:53]  Turning point USA.
[00:00:54]  We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
[00:01:03]  That's why we are here.
[00:01:06]  Noble Gold Investments is the official gold sponsor of the Charlie Kirk Show, a company that specializes in gold IRAs and physical delivery of precious metals.
[00:01:16]  Learn how you could protect your wealth with Noble Gold Investments at noblegoldinvestments.com.
[00:01:23]  That is noblegoldinvestments.com.
[00:01:25]  It's where I buy all of my gold.
[00:01:27]  Go to noblegoldinvestments.com.
[00:01:31]  I was very moved by a conversation that our next guest had with Tucker Carlson.
[00:01:37]  I was on Tucker's show yesterday.
[00:01:38]  I said, let's book him.
[00:01:39]  I think he's super smart and has an amazing way of thinking about things.
[00:01:44]  I don't know if I always agree with him, but I don't even agree with myself all the time.
[00:01:47]  Joining us now is Sauger and Getty.
[00:01:50]  He is the host of Breaking Points and very smart, and also went on Tucker Carlson about two weeks before I did.
[00:01:57]  Sager, great to see you.
[00:01:58]  Hey, thanks for having me, Charlie.
[00:01:59]  I appreciate it, man.
[00:02:00]  Yes.
[00:02:00]  So one of the things I wanted to talk to you about, this was kind of the theme of my Tucker conversation, and then we can get into more of the juicier, more headline-scintillating stuff in a little bit, is the plight of younger people.
[00:02:10]  And you had a phenomenal take on this from their attachment to even draft kings to kind of this debt-financed economy.
[00:02:17]  I touched on this yesterday the best that I could, but the kids are not all right.
[00:02:22]  We are seeing it harder than ever to own homes, more depressed, more socially isolated.
[00:02:27]  What's going on with younger people that you wish that more of our leaders, more boomers, more elders understood?
[00:02:35]  Yeah, I mean, one of my favorite things Tucker Carlson ever said, I think it was in the election of 2020, is that whoever in this selection is going to make it easier for a 30-year-old American to buy a house and to raise a family is the only person who deserves to win.
[00:02:48]  I think that's a really good heuristic.
[00:02:50]  I mean, look at where we are right now, Charlie.
[00:02:52]  The average first-time homebuyer in the United States is now 38 years old.
[00:02:55]  That's a record high.
[00:02:57]  It used to be 27 years old, not that long ago.
[00:03:00]  The median homebuyer in the U.S. is 56 years old.
[00:03:04]  So, you know, this gets to the conversation that you and Tucker really had about the selfishness of the boomer generation.
[00:03:10]  And it's one of those where you're watching wealth not only be hoarded in the form of a home, but to be protected with so many different ordinances and different ways of living.
[00:03:20]  And I'm not trying to make this some sort of entree point into Yimbyism, only to recognize the problem.
[00:03:26]  Like right now, a 38-year-old who's buying their first-time home is leveraged up to the hilt to a point that they never were in the history of our country.
[00:03:35]  Right now, the first-time homebuyer I mentioned, who's 38 years old, 42% of their after-tax income is being spent on their mortgage payment for that average 38-year-old, leaves very, very little room, you know, a wiggle room.
[00:03:48]  I just had a child, a baby daughter.
[00:03:50]  I mean, the amount of expenses that come with having a child, both from your health insurance, premium, deductible, stroller, cars, I mean, changes your entire life in a genuinely irrevocable way.
[00:04:00]  And then you look also for the rest of their finances.
[00:04:04]  I just looked it up right before I came on the show.
[00:04:06]  The average millennial credit card balance right now, today, is $5,000 to $6,000.
[00:04:13]  That's in their balance.
[00:04:14]  They're not paying that balance.
[00:04:15]  The vast majority of Americans aren't able to meet that payment every single year.
[00:04:19]  That means they're being charged userous credit card rates of some 19 to 31% in terms of their APR.
[00:04:25]  So you are just watching runaway debt destroy the balance sheets.
[00:04:30]  And then the entire system is basically, you know, we were talking about sports betting on Tucker's show is basically trying to sell degeneracy and debt to as many Americans as humanly possible, which is just getting them farther and farther away from what makes us fundamentally happy in this world.
[00:04:47]  So our country is totally broken.
[00:04:49]  It starts with the homes.
[00:04:50]  It also goes to debt.
[00:04:51]  And the entire way that our debt finance leverage system is designed is really to the benefit of a lot of people who are older.
[00:04:58]  And it's certainly not to the benefit of anybody who's under 40 in this country.
[00:05:02]  So what caused this?
[00:05:04]  I mean, again, that's what I love about your show.
[00:05:06]  I listen to it every so often.
[00:05:08]  I like you more than Crystal Ball.
[00:05:09]  No offense to her, just what it is.
[00:05:13]  It's fine.
[00:05:14]  It is what it is.
[00:05:14]  But I think your commentary is precise and you make me think, and it's not partisan.
[00:05:18]  It's just real, which I really like.
[00:05:21]  And so how did we get here?
[00:05:23]  Just outside of platitudes and bumper stickers, what practically, can you point to two or three moments that decisions were made either through public policy or cultural moments where basically we decided we're not going to hand a good country off to our kids?
[00:05:40]  What caused this specifically?
[00:05:43]  It's really difficult to say.
[00:05:44]  Something definitely changed in the year 1971.
[00:05:47]  There's a great website, WTF happened in the year 1971.
[00:05:51]  There's all kinds of charts that show I love looking back at the cost of living.
[00:05:55]  I mean, if I had to point to concrete different things, it would be number one is student debt.
[00:06:00]  And that was, of course, the government's backstopping of the student debt crisis, guaranteeing of the loans, which caused runaway inflation in terms of education costs.
[00:06:09]  I would also point to people like Joe Biden, who represented the state of Delaware and was called, you know, the senator from MBNA.
[00:06:16]  But it's not really fair to just blame Joe Biden, who passed a speech of legislation in the 1980s protecting the credit card industry.
[00:06:22]  Since that time, there has been an immense amount of pushback on Capitol Hill to even cap credit card interest rates or at the very least to go after the profit centers themselves that allow people really to get into this runaway debt situation.
[00:06:35]  The housing story is a lot more complicated.
[00:06:37]  I mean, you've talked a lot about here on your show with illegal immigration.
[00:06:41]  I think that's part of the story.
[00:06:42]  I don't think that's all of the story, but at the very least, we know that we have a housing crisis and a shortage.
[00:06:47]  But really, it's about the structure of our economy.
[00:06:50]  You know, one of the things I really fundamentally believe is that not all Americans should have to be able to move to some sort of urban economic center if they don't want to.
[00:07:00]  And increasingly, the way that our jobs and our economy and all is structured are in these super zip codes where the price and the cost of living, like where I live near the Washington, D.C. area, is just absolutely out of control.
[00:07:12]  So unfortunately, I really can't point to a single point, one or two different things.
[00:07:16]  Obviously, student debt and credit cards are one of them.
[00:07:19]  But at this point, we are where we are, man.
[00:07:20]  Like we got to deal with it at this point.
[00:07:22]  And in terms of dealing with it, we have got to go after these massive profit centers, which just rip people off.
[00:07:29]  And I don't see enough, I don't see enough energy on that in the Democrat or the Republican Party, honestly.
[00:07:34]  Yeah.
[00:07:34]  So what does that look like?
[00:07:36]  And how do we do that prudently, Sager, without embracing just blind wealth confiscation?
[00:07:43]  And so what does that look like?
[00:07:45]  Name the companies that you would go after.
[00:07:47]  Let's just say, if I'm able to convince, I don't know, a president, JD Van Sager, you're in charge of the FTC.
[00:07:52]  Go hog wild.
[00:07:53]  What does that look like specifically?
[00:07:57]  Right now, the buy now, pay later.
[00:07:59]  There is hundreds of billions of dollars in debt in these Klarna-type, you know, buy now, pay later applications, the DraftKings, the FanDuel, all of these sports betting companies, which are just ruinously putting young men, specifically young men who are watching the show most likely, into horrible debt by selling them these terrible products, which are ripping them off.
[00:08:19]  They hate you.
[00:08:20]  Not only do they hate you, they'll ban you if you're any good.
[00:08:23]  You know, 40 states across the country have now legalized it.
[00:08:26]  That's exactly the two, those two centers are some very easy things that I would say.
[00:08:30]  Also, in terms of wealth confiscation, let's have honest conversations.
[00:08:33]  Yeah, go ahead.
[00:08:34]  Well, no, no, no, wealth confiscation.
[00:08:37]  Those are fighting words.
[00:08:38]  Wealth confiscation.
[00:08:39]  I'm not going to call you Elizabeth Warren.
[00:08:41]  What do you mean by that?
[00:08:41]  Yeah, I mean, I'm not talking about wealth confiscation.
[00:08:44]  What I'm talking about is going after the centers of big business.
[00:08:46]  One of the things that Tucker and I really pointed out in our show is if you look at the way to get filthy rich in America today, I encourage everybody, I'm not against billionaires.
[00:08:55]  I want people to become billionaires, quote, the right way, in a productive way.
[00:08:59]  The way people get rich right now is you can go and look at the new additions to the Forbes list.
[00:09:03]  It's not the Elon Musk or the Jeff Bezos of the world who are creating these companies and hiring all these hundreds of thousands of people.
[00:09:09]  It's financial engineering.
[00:09:11]  It's high-frequency trading.
[00:09:12]  It's stuff that adds no productive value to our country.
[00:09:16]  Why are we giving them tax breaks through the carried interest loop poll?
[00:09:18]  It makes no sense.
[00:09:19]  Why, Charlie, are you and I who own small businesses?
[00:09:22]  I'm presuming, you know, with podcasts taxed at a higher rate than people who are just managing and running money on behalf.
[00:09:29]  Again, you know, if you care about the same partisan, we pay a very high organization.
[00:09:33]  Yes, you're right.
[00:09:34]  I mean, especially your show does great.
[00:09:40]  I'm not complaining.
[00:09:41]  And by the way, I said before, I say this as a conservative.
[00:09:43]  My contention was, guys, during the One Big Beautiful thing and Bill thing.
[00:09:48]  And by the way, Trump's original submission to Congress had this in some sort of way, which is, guys, cut spending.
[00:09:55]  And honestly, you can minorly raise taxes on people like me.

=== Tax Breaks for Money Managers (05:01) ===

[00:09:58]  It's not going to be the end of the world.
[00:09:59]  But obviously, that was completely dead on arrival.
[00:10:02]  I want to talk more about this.
[00:10:03]  And then, oh, by the way, I just want to make sure it's Sager and Jetty.
[00:10:06]  Yes.
[00:10:07]  I think I said that correctly.
[00:10:08]  And you should check out Breaking Points, his show.
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[00:11:15]  That is oracle.com/slash Kirk.
[00:11:20]  Sager, we'll talk about Israel in a second here, but I want you to complete the thought.
[00:11:23]  What would be a reordering of the economy look like?
[00:11:27]  And what, in your opinion, would be two or three metrics that we can isolate and measure that we need to improve upon?
[00:11:35]  What would those be, Sauger?
[00:11:37]  First and foremost, is like I said, we need to look at not just the threat, but the fundamental way that we've watched the Chinese economy transform.
[00:11:45]  Biggest problem that we have right now is that everything is centered around this idea of the number must go up.
[00:11:51]  All of American retirement, capital, everything needs to return 8% to 10% because our entire future is invested in that.
[00:11:58]  One of my favorite statistics is that the Shanghai Stock Exchange has barely gone up since the year 2009.
[00:12:04]  But the material way that the Chinese economy and the Chinese way of life has dramatically increased from that time period.
[00:12:09]  The reason why is because they don't care about the return on capital.
[00:12:13]  What they care about is the return on their quality of life on their own industry.
[00:12:18]  So, what I would point to is that the economy, the system, everything needs to be geared towards creating new products, new technologies, new ways of life that actually make it easier not for us to just buy a home, but to be able to move into a home, not have financialization in the credit card industry, sports betting.
[00:12:36]  The best and the brightest of America should not be focused on milking the American consumer for every dollar they have.
[00:12:42]  It should be focused on giving them new products and new ways to improve their lives.
[00:12:46]  It is undeniable right now that the quality of life increase in China dwarfs the quality of life increase in the United States.
[00:12:52]  This is not a veneration of the Chinese system.
[00:12:54]  It's to say that we can do it in a more American way.
[00:12:57]  And it's exactly the way our economy was structured from the 1940s up until the 1970s, before we literally just went runaway, you know, with financialization of our entire economy.
[00:13:06]  So that's my number one way that I would try to fix this system.
[00:13:09]  You're a Marxist, Sager.
[00:13:11]  That's the only binary we're allowed to exist in, right?
[00:13:13]  That if you dare say this, can you comment on that and how that actually makes us a prisoner of kind of a trapped binary when reality, there's hundreds of other little micro decisions and nuances that could improve the country other than, oh, you're some sort of totalitarian Marxist.
[00:13:30]  These are thought terminating clichés.
[00:13:32]  Sager, a minute and a half remaining.
[00:13:34]  Well, first and foremost, the idea that this is Marxist is ridiculous.
[00:13:37]  Did they say that then?
[00:13:38]  Is to say President Eisenhower was a Marxist.
[00:13:40]  Is that all of the leaders in that period were Marxist?
[00:13:43]  No, what we are saying is that the United States tax code is a choice, a democratically elected one, that we are able to influence as to how we want our economy structured.
[00:13:52]  That is just pure democracy.
[00:13:54]  It's capitalism.
[00:13:55]  It traces back to the revolutionary populism of Theodore Roosevelt and the original Republican progressive movement.
[00:14:01]  I would actually say there's nothing more anti-Marxist than to say that we need to structure our economy to the benefit of all of our citizens, especially to avoid Marxism.
[00:14:10]  That's what the British ruling class in the 1890s did.
[00:14:13]  And it's also what Teddy Roosevelt, FDR, and many others actually saved America from Marxism, from full-blown communism in the Bolshevik Revolution by making sure they responded to the needs of the people for a more well-regulated capitalism.
[00:14:27]  And when I say that word regulation, I understand that people are worried about it, but they need to really listen and know that all government policy, even if it's in action, is just as much of a choice.
[00:14:37]  We deserve a say in the way that our economy runs.
[00:14:40]  Yeah, we made a decision in the 1980s and 1990s to reconfigure the American economy away from making stuff towards basically high finance, technology, and just a brain economy.
[00:14:55]  We basically discarded the body.
[00:14:58]  And how has that worked?

=== US Israel Relationship Strains (07:46) ===

[00:14:59]  Harder than ever to own a home, harder than ever to pay for your rent.
[00:15:02]  You have to, and by the way, I talked about the buy now, pay later stuff with Tucker at length.
[00:15:07]  We actually went into BNPL, Klarna, a firm, after pay.
[00:15:12]  And I think it's worthy of true examination of what are we actually pointing towards here?
[00:15:18]  Is it markets for market's sake, or is it a nation that we want to build?
[00:15:23]  Sager, I want you to explain to our audience how younger people are viewing the Israeli situation.
[00:15:30]  Outside of all that terrible Jew hate stuff that you and I both don't like on social media, I don't like it.
[00:15:34]  It's disgusting.
[00:15:35]  I think it's growing.
[00:15:36]  And I just think it rots people's brains and it's just gross.
[00:15:40]  So I don't want to get into that.
[00:15:41]  I know that's not even close to what you believe or you're close to it.
[00:15:44]  I also never want somebody that has an heterodox view of the Bibi Netanyahu government to be looped into the Jew hate category just because they're critical of a foreign government, which far too often happens.
[00:15:56]  So what would you say?
[00:15:57]  Because you're very in touch with this.
[00:15:58]  You have a very popular YouTube channel.
[00:16:01]  How are younger Americans, younger people viewing Israel?
[00:16:05]  And what do you wish that more older Americans knew in regards to that?
[00:16:09]  Sagaran.
[00:16:10]  Yeah, I mean, I think it's just very important for people to understand that younger Americans feel that we are not currently in a healthy relationship with the state of Israel.
[00:16:18]  And what I mean by that are the multiple passages of, quote, anti-Semitism and anti-Zionist positions through the House of Representatives, through the extent to which U.S. foreign policy and U.S. politics seems to resolve around this very small nation that's in the Middle East.
[00:16:33]  And there's several different areas of that I could go into if you would like between right and left, because there is a large split between right and left young people.
[00:16:40]  But the horseshoe, if you will, really comes together in thinking that our relationship with this foreign government is not healthy in the way that we discuss it, in the way that we, you know, basically look at the idea that you're allowed to, let's say, serve in a foreign military, including the Israeli military, not lose your citizenship.
[00:16:56]  And in fact, view that as some sort of patriotic act in the way that one of these congressmen in the United States of America actually wore the uniform of a foreign military in the halls of the United States Congress.
[00:17:05]  They view that as very abnormal, I really would say to the least.
[00:17:09]  And at the most, I think what they're really watching is they believe at a fundamental level, and I'm really speaking for right-wing younger Americans here, is I think that what they look at is that the obsession and the, you know, almost subservience, you know, to this foreign nation, at least in terms of rhetoric, in terms of priority, is one that dwarfs any care or concern for the actual American citizen.
[00:17:29]  On the left-wing side, I mean, I can say this because I do host a show with Crystal Ball as well.
[00:17:34]  I think we all have to be honest that the conduct of the Israeli government and the way that it's waged its war on Gaza, we basically have watched effectively is that criticism necessarily of the humanitarian situation of what's happening in Gaza gets conflated at a high rhetorical level with anti-Semitism.
[00:17:50]  Terms like blood libel and others are often applied to pointing out specific actions of the IDF.
[00:17:57]  Let's say in the case of bombing this Catholic church or what they claim was an accident very recently, we could look at several instances, for example, of Palestinian civilians, you know, getting shot while they're coming to aid.
[00:18:08]  Now, the prime minister of Israel and others, they offer differing explanations.
[00:18:12]  However, a lot of those don't fall to scrutiny.
[00:18:15]  And I think it's really unfortunate that we're not allowed to have an honest and a fact-based conversation.
[00:18:20]  I think really all I can prioritize and advocate for here on this show, on my show as well, let's talk about it like it's any other country without a lot of the emotion, without, let's say, some other religion in this respect.
[00:18:32]  You know, we need to instead to look at it in terms of what are we getting out of this relationship?
[00:18:38]  And I think it's very clear that we have a special exception whenever it comes to Israel.
[00:18:42]  It's your right to advocate for that if you would like.
[00:18:44]  And without getting into the realm of Jew hate or anti-Semitism or others, it's just very important to be able to discuss it on its terms without a lot of the labels that start to come in.
[00:18:55]  And I think that's where a lot of right and left-wing young Americans really feel as if their legitimate concerns around these two things are shut down to the point where they're going to be drifting in a very bad direction, Charlie, if really the blinders are not let up on this.
[00:19:11]  Well, and so there's a couple of points that, and as you know, I advocate for America, for Western civilization.
[00:19:18]  I loved my experience in Israel, and I fight up against these ridiculous kids on campus that I think have moral blindness on the topic.
[00:19:25]  And I agree with a lot of what you're saying.
[00:19:28]  We had an amazing focus group at the Sudan Action Summit, and a lot of our students, we're going to be posting it, by the way, it's about an hour and a half long, and they can't stand this Jew hate stuff, which we have to just stand united against.
[00:19:39]  It's just bad.
[00:19:40]  It's just really low IQ and sloppy.
[00:19:42]  Like, oh, you know, I have high cholesterol because of the Jews.
[00:19:45]  I go, okay, great, sure.
[00:19:46]  I mean, that's just ridiculous.
[00:19:47]  Or, you know, every bad thing, you know, I have a flat tire because of the Jews.
[00:19:50]  It just rots your brain.
[00:19:51]  At the same time, a lot of these younger people, though, they say, guys, why is it that we don't have the same emphasis on the fact that I can't own a home and we talk so much about a foreign country?
[00:20:03]  Do you think that one of the reasons younger people have this view is that they feel as if their needs, wants, and interests are underserved while a foreign nation gets a lot more attention.
[00:20:12]  Yes, I absolutely do.
[00:20:14]  And I would point to the words of Marjorie Taylor Greene, who has been very courageous on this topic.
[00:20:18]  This is a country that has its own universal health care, which has huge amounts of social services.
[00:20:23]  A large percentage of their population is actually excluded from the draft.
[00:20:27]  The United States taxpayer is on the hook for billions of dollars a year to this foreign country, including using the capital of our global empire to backstop its entire security across the world.
[00:20:37]  That's not a normal, a healthy relationship.
[00:20:39]  And it's not one which I think focuses on the needs of Americans.
[00:20:43]  Any final thoughts on that, Sager?
[00:20:45]  And would you think that there is a consensus?
[00:20:47]  I mean, Bibi Netanyahu has come out and said this.
[00:20:49]  Josh Hammer has come out and said this.
[00:20:52]  It's time to kind of just sunset foreign aid and maybe a decoupling so that Israel can be self-reliant and can kind of support itself.
[00:20:59]  Do you think that is a potential way forward?
[00:21:01]  What would, if that actually gets done, do you think that that would go a long way in settling some of this down?
[00:21:08]  Absolutely.
[00:21:09]  I think it would go a long way.
[00:21:10]  But we need an actual decoupling, not just in terms of foreign aid, but in terms of the way that we provide diplomatic cover for a lot of Israeli action, which I would call belligerent action in many cases.
[00:21:20]  And also not to, you know, require the expenditure of tens of billions of dollars a year, the use of three carrier strike groups, for example, when Israel finds itself in a difficult position that they put themselves in.
[00:21:31]  And so an actual and a full decoupling, a treatment of Israel like any other nation on its terms, this is a country which we barely do any bilateral trade with compared to even the top 25 nations that we conduct trade with.
[00:21:44]  We need to treat it in the same way that we would any other nation, which we have a similar trading relationship, countries like Chile, countries like Switzerland, or any others in terms of what do we get out of this relationship.
[00:21:55]  Right now, we are treating it very, very differently as if it's actually in the top five, not in terms of trade, but also in terms of its strategic interests to the United States.
[00:22:04]  So a full decoupling, which you suggested there, I'm not sure if Prime Minister Netanyahu really believes that, considering a lot of his actions here in the United States, would certainly put us on the right direction.
[00:22:14]  And that's why I'm very supportive of Marjorie Taylor Greene's amendment.
[00:22:17]  I think it's unfortunate she didn't get enough support from her own colleagues.
[00:22:20]  Yeah, I think a financial decoupling is one that needs to be the focus right now.
[00:22:25]  And again, Bibi has said that in some ways, you can make an argument holds Israel back.
[00:22:29]  I think a lot of voters want it.
[00:22:31]  And as far as a military one, the other ones, well, I have to think about that.
[00:22:35]  I don't know if I agree with everything you said, but that's why we have longer podcasts for another time.
[00:22:39]  Sager, thank you so much for your time.
[00:22:40]  Sager and Jetty, please check out Breaking Points.
[00:22:42]  Plug your stuff really quick, Sager.
[00:22:44]  Breaking Points at Crystal and Sager on YouTube.

=== The Debt-Financed Generation (09:32) ===

[00:22:46]  You can find us anywhere, podcast player.
[00:22:48]  Thanks for having me, Charlie.
[00:22:49]  I appreciate it.
[00:22:50]  Sager, thanks so much.
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[00:23:56]  Yesterday, I was with Tucker Carlson in Maine.
[00:24:00]  We had a phenomenal conversation about something that is not getting much media coverage.
[00:24:04]  And President Donald Trump talked about this in the Oval today in so many words.
[00:24:11]  It's very easy to focus on the stories that are popping up, and we should focus on them.
[00:24:17]  We're going to continue to cover them.
[00:24:19]  But there are sometimes these slow burn stories.
[00:24:22]  There are stories that are not the biggest story until it's the biggest story.
[00:24:26]  One of them is the fact that younger people have had their livelihoods and their futures intergenerationally stolen from them.
[00:24:36]  And we've talked about this for quite some time.
[00:24:38]  And we mean it beyond just the fiscal policy.
[00:24:41]  It's beyond the fact that we're a $37 trillion debtor nation.
[00:24:45]  It's beyond even the student loan debt.
[00:24:47]  It is the quality of life and the purchasing power of every generation decreases.
[00:24:52]  Every generation's dollar goes less and less as far as it did to prior generations.
[00:25:00]  For example, the average home price used to be about three times the median income in America.
[00:25:05]  Now it's seven times the median income in America.
[00:25:09]  Young people are using a thing called BNPL, which is buy now, pay later.
[00:25:14]  It's a financing operation, essentially, to be able to pay for groceries, pay for concert tickets, and it's a way to bypass the traditional credit card companies.
[00:25:25]  Young people are getting into debt, serious debt while they're 20, 21, 22 years old.
[00:25:29]  They're bankrupting themselves also on erroneous betting markets.
[00:25:36]  To have to go and engage in credit to buy groceries, something's seriously wrong.
[00:25:41]  And it's not a problem of growth.
[00:25:44]  This is the contention I made with Tucker Carlson yesterday.
[00:25:46]  And I'm going to play you some pieces of tape here.
[00:25:49]  The economy is growing.
[00:25:51]  It has been growing.
[00:25:52]  And again, this is President Donald Trump's one of his great challenges.
[00:25:56]  And I think he's going to get it done.
[00:25:57]  But boy, this is generational stuff, which is the economy is growing.
[00:26:03]  We have problems that would be and that you would most imply based on the data in front of us is if the economy was shrinking.
[00:26:14]  Here's part of my conversation yesterday with Tucker Carlson.
[00:26:16]  You can listen to the entire conversation on our YouTube channel in an annotated way and also on the Charlie Kirkshow podcast page, but of course, most importantly, on the Tucker Carlson podcast page.
[00:26:28]  Let's play Cut 317.
[00:26:29]  A lot of people over 50 think this is a foreign concept and they think, quite honestly, this is just the complaining of young people that don't want to work.
[00:26:37]  So let me kind of paint this picture.
[00:26:39]  It is harder than ever to own a home.
[00:26:41]  We know this, but how much harder?
[00:26:42]  Back when my parents had to go own a home, the price of a home.
[00:26:46]  How old are your parents?
[00:26:47]  They're early 70s.
[00:26:49]  So late 60s, early 70s.
[00:26:51]  So baby boomers.
[00:26:52]  Yep.
[00:26:53]  1970s, 1980s.
[00:26:55]  Home prices were on average about three times the average income in America.
[00:26:59]  They are now seven times the average income in America.
[00:27:02]  Rents have gone up inflation adjusted from about $900 a month to now about $1,500 a month.
[00:27:09]  Inflation adjusted.
[00:27:10]  Inflation adjusted.
[00:27:11]  The age of a first-time homebuyer in 2008 was 30 years old.
[00:27:17]  It is now 38 years old.
[00:27:19]  38 years old is the average age of a first-time homebuyer.
[00:27:23]  One of the reasons why this Tucker conversation I think was so important, and I want to drive and direct your attention to it, is that it required a longer form environment to really build this out.
[00:27:33]  This is, and look, I love going on Fox News and was on last night with Jesse Waters.
[00:27:38]  Just can't do this in a three to five minute segment.
[00:27:40]  There's so many complexities and depth and nuances to this.
[00:27:44]  And so, in the longer form, deep dive environment, we were able to paint a picture that if you have a generation that does not own stuff, then all of a sudden political radicalization starts to seep in.
[00:27:59]  I have a question for all of you in the audience, and this should hammer at home.
[00:28:03]  It's from my friend Frank Turek, and I told him as soon as he said it, I said, I'm going to steal this one, Frank.
[00:28:08]  When was the last time you washed a rental car?
[00:28:13]  When you rent a car from Hertz or from Avis, do you wash it?
[00:28:16]  Do you go get the oil checked on that rental car?
[00:28:19]  Of course not.
[00:28:20]  It's not yours, and you know it.
[00:28:23]  You're borrowing it.
[00:28:24]  And it's no different than how people are living in apartments endlessly until they're 32, 33.
[00:28:30]  They have two kids and they have to rent because the access to the housing market is so impossible.
[00:28:37]  Now, President Donald Trump in the Oval today talked about how people cannot buy homes because interest rates are too high.
[00:28:44]  And he's exactly right.
[00:28:45]  People say all the time, well, Charlie, what is the solution?
[00:28:47]  Because we talked about the problem at length with Tucker Carlson yesterday.
[00:28:51]  What is the solution?
[00:28:52]  One of the solutions is let's lower rates.
[00:28:54]  Once you lower rates, it will open up capital.
[00:28:57]  It will make it easier for young people to borrow and they can get their slice of the American dream.
[00:29:02]  Because once you're in the owner economy, unless you have a financial apocalypse or a cataclysmic event or you're really bad with money, it's very rare do you go from owner to renting.
[00:29:15]  It happens, but once you go from renting to owner and you're in that kind of ownership economy and the mortgages are configured a certain way, the tax code is configured a certain way, and you're in the game.
[00:29:28]  And what's happened is an entire generation, they're making their landlords rich and they're experiencing none of the upside of this economy.
[00:29:36]  Zero, nada, none of it.
[00:29:39]  President Donald Trump was talking about Jerome Powell, too late Jerome Powell, and how high interest rates are a barrier to entry for so many young people in this country, about how they are not able to enter the housing market.
[00:29:53]  And this is why the Tucker-Carlson conversation is so important.
[00:29:56]  Let me play another piece of the Tucker conversation here.
[00:29:58]  Let's play Cut 318.
[00:30:00]  Every generation is getting weaker.
[00:30:02]  So your dollar is actually going, it's going, it's going less and less as far as it has year over year.
[00:30:10]  So then what is the consequence of this?
[00:30:12]  So you have a generation that is renting a lot more than it's owning.
[00:30:15]  So when you do not own something, why would you defend it?
[00:30:20]  And so you find then political radicalization start to seep in because an entire generation is getting routinely cynical year over year as their net worth either stays at zero or goes into negative.
[00:30:34]  Now, my question for every Republican senator and congressman watching this: if you do not know these four letters, then you are not doing your job.
[00:30:41]  B-N-P-L.
[00:30:43]  Do you know what that means?
[00:30:44]  No clue.
[00:30:44]  Buy now, pay later.
[00:30:46]  Buy now, pay later is how 60%, according to surveys, of Generation Z is paying for things month to month.
[00:30:54]  There is a debt-financed generation, credit-finance generation that's happening below the surface.
[00:31:00]  It is a debtor nation, and you have an entire population, generation that is on the outside looking in.
[00:31:08]  And that is a prerequisite for a political revolution if we don't turn renters into owners.
[00:31:16]  Private student loan debt in America totals about $300 billion.
[00:31:20]  WhyReFi refinances private student loan debt and they do not care what your credit score is.
[00:31:25]  Many clients aren't even able to make the minimum monthly payment on their private student loans when they first contact YReFi.
[00:31:30]  Go to whyReFi.com.
[00:31:32]  That is YREFY.com.
[00:31:34]  You don't have to ignore that mountain of student loan statements on your kitchen table anymore.
[00:31:38]  So go to yrefi.com.
[00:31:39]  Do you have a co-borrower?
[00:31:40]  Well, whyRefi can get them released from the loan and you can give mom or dad a break.
[00:31:43]  Go to yrefi.com.
[00:31:45]  Can you imagine being debt-free and not living under this burden anymore?
[00:31:49]  So go to yrefi.com.
[00:31:50]  That is yrefy.com.
[00:31:53]  Let's face it, if you have distress or defaulted private student loans, there's no better place to go than whyRefi.
[00:31:58]  They provide you with a custom loan payment based on your ability to pay.
[00:32:01]  They're not a debt settlement company.
[00:32:03]  So check it out right now at yrefi.com.
[00:32:05]  May not be available in all 50 states.
[00:32:07]  Go to yrefi.com.
[00:32:08]  That is why.com.
[00:32:12]  I do want to play this one piece of tape here just to kind of conclude the whole segment on housing.

=== Cutting Rates to Build Homes (05:21) ===

[00:32:19]  Again, if you have a generation that does not own stuff and that is not invested in the economy, political radicalism ensues.
[00:32:28]  And if you are over the age of 60 and you are watching this, you have benefited tremendously from the upside in this economy, tremendously.
[00:32:36]  And it's time that we allow access to the next generation to the same American dream that so many of us, I put myself in that category, have enjoyed.
[00:32:45]  I'm very blessed.
[00:32:46]  We've done very well.
[00:32:47]  But the young people that I represent and the young men that I talk to and women, but mostly men, they are on the outside looking in, and that creates bitterness.
[00:32:56]  That creates resentment.
[00:32:58]  And you're not going to like the politics that comes next.
[00:33:01]  There are two ways this is going to go.
[00:33:03]  Way one is a left-wing confiscate the wealth, burn down the mansions, take over the corporate boardrooms, shoot the CEOs in the street like Luigi Maggioni did.
[00:33:15]  That's where we're going.
[00:33:16]  And honestly, I wish I would have connected the dots to Mangione yesterday at Tucker now that I'm thinking about it.
[00:33:20]  That's probably the one thing I wish I would have mentioned.
[00:33:22]  Because if you want to see a physical manifestation of where this goes, it is street assassinations of CEOs.
[00:33:32]  It's more than redistribution of wealth.
[00:33:34]  It is confiscation of wealth.
[00:33:36]  It's let it burn.
[00:33:37]  It is economic nihilism.
[00:33:39]  Path two hopefully is a way that we can prudentially proceed.
[00:33:44]  We're going to have to rethink how we view economics in the conservative movement, where it might mean at times we might have to adjust tax rates up a little bit while we also cut spending.
[00:33:54]  It might mean that we have to close some loopholes.
[00:33:56]  It might mean that we have to be a little less ideological when it comes to taxes.
[00:34:00]  And maybe we should break up some monopolies.
[00:34:02]  Again, I'm not a Marxist.
[00:34:04]  I'm not a socialist.
[00:34:05]  I'm an American patriot.
[00:34:06]  And I know that if we do not structurally fix this, I don't want AOC, Bernie Sanders, Elizabeth Warren, Rashida Talib, Elon Omar, Zorhan Mamdani running the U.S. economy.
[00:34:15]  And you don't want that either.
[00:34:17]  It's bad for everybody.
[00:34:19]  And people say, oh, you're fear-mongering.
[00:34:20]  No, I'm telling you right now, this generation, if the average home buying age is 38 years old, if the average age of a home buyer is 38 years old, that's probably only going to go up.
[00:34:33]  And so how do we fix it?
[00:34:35]  Well, again, we need more supply of homes.
[00:34:37]  We need less people that are buying them.
[00:34:39]  So deport 20 million people, build 10 million homes.
[00:34:43]  We need to fix all the regulation around the homes.
[00:34:45]  We also need to use more automation and more robotics and how we actually build the homes, which will bring down the price of homes.
[00:34:51]  But also, we need to cut rates.
[00:34:53]  Now, cutting rates is not everything.
[00:34:55]  Cutting rates is not the entire picture.
[00:34:57]  Cutting rates is not the whole thing because the price is still high, but it will unlock more capital for people that are right on the edge of purchasing a home.
[00:35:06]  Play cut 320.
[00:35:09]  Do you think that Fed Share Drone Powell should resign?
[00:35:13]  I think he's doing a bad job, but he's going to be out pretty soon anyway.
[00:35:17]  In eight months, he'll be out.
[00:35:20]  But he's, I call him too late.
[00:35:22]  He's too late all the time.
[00:35:23]  He should have lowered interest rates many times.
[00:35:25]  Europe lowered their rate 10 times.
[00:35:27]  We lowered ours none.
[00:35:29]  And it's causing a problem for people that want to buy a home.
[00:35:32]  Look, our economy is so strong now.
[00:35:34]  We're blowing through everything.
[00:35:35]  We're setting records.
[00:35:36]  You know that you see that.
[00:35:38]  And whether it's the Philippines or anyone else, we're setting records at levels that nobody's ever seen before.
[00:35:43]  But you know what?
[00:35:44]  People aren't able to buy a house because this guy is a numbskull.
[00:35:49]  He keeps the rates too high and probably doing it for political reasons.
[00:35:54]  The only time I remember him cutting rates, I mean, he cut the rates just before the election to try and help Kamala or whoever he was trying to help.
[00:36:01]  Homes are inordinately expensive, especially in the Sun Belt.
[00:36:06]  So you need less people that are trying to purchase them, and then you need to build new homes.
[00:36:10]  We need 10 million new homes in the next three years.
[00:36:12]  And I think President Donald Trump is looking at this.
[00:36:14]  And this is where interest rates do play into this.
[00:36:16]  If a developer is going to buy home, build homes, lower interest rates will incentivize him to build more homes.
[00:36:23]  Understand that almost nobody is doing any construction or development on cash only.
[00:36:28]  It's all financed with construction loans.
[00:36:30]  And as someone who knows how those numbers work, if you lower interest rates, there will be more incentive for builders to build homes.
[00:36:38]  You need a lower regulation.
[00:36:40]  You need faster approval.
[00:36:41]  We need a streamlined Manhattan project.
[00:36:43]  I think President Donald Trump can do operation home speed or operation warp speed for homes.
[00:36:50]  Again, during COVID, he was able to bring people together.
[00:36:53]  And obviously, I don't love the COVID vaccine shot.
[00:36:57]  We all know that.
[00:36:58]  But what he did was rather miraculous as far as a timeline standpoint.
[00:37:01]  We need to expedite how hard and how easy it is to build a home.
[00:37:04]  We need 10 million new homes.
[00:37:06]  We need them in Atlanta.
[00:37:08]  We need them in Phoenix.
[00:37:09]  We need them in Dallas.
[00:37:10]  We need them in Miami.
[00:37:11]  We need them in Tampa.
[00:37:12]  We need them in Orlando.
[00:37:13]  The Sun Belt, especially.
[00:37:15]  In the Midwest, it's a little bit of a problem, but the Sun Belt, it's a housing crisis.
[00:37:18]  We need to make it easier to build homes.
[00:37:20]  We need to build more of them and have it easier for young people to get entry point into the economy.
[00:37:26]  When you own stuff, you're less likely to support Mamdani.
[00:37:29]  Thanks so much for listening, everybody.
[00:37:30]  Email us as always, freedom at charliekirk.com.
[00:37:33]  Thanks so much for listening, and God bless.
[00:37:37]  For more on many of these stories and news you can trust, go to CharlieKirk.com.