Fox Business Network host Charles Payne offers insight on the president's efforts to slash economic restrictions on U.S. families and businesses.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
We will have removed gigantic, we will have removed gigantic regulatory burden. Americans have been forced to carry for decades reach our highest potential. The historic regulatory relief is providing the average american household an extra three thousand one hundred dollars every single year. Brian president, Trump touting administrations, ongoing effort to slash restrictions on american families and small businesses. So how does this take the strain off your wallet joining us now to break it down host of making money? Charles Payne, Charles Good, to see you good morning yeah! I have got to tell you its almost common sense, if you think about it, the more hurdles that you layer on a society, the more difficult its going to be to achieve success and the most important thing about these regulations that everyone watching should know is that they hurt lower income households more than anyone else, particularly if you dont want
to be a lower income household or if you want to start a business, you have got to hire more lawyers more architect, more accountants. Have you got to pay more fees, its just absolutely ridiculous, and then job creation in the 1950s one? In twenty jobs required a lance now its almost one out of two, so just think about that. Do you need a license to be a funeral attendant? Should you need a license to a polster, reup, holster, reapolog or sofa? There has been a lot of work done by the way. Folks, one report- I read that showed that overall, the cost is two dollars trillion or more. If the regulations had held where they were in one thousand nine hundred and eighty, it would equal an extra thirteen thousand dollars per household in this country yeah. We want smart regulations, but whats happened is these are
just guides for governments to fill their coffers and does nothing, but let the rich get richer. Thats ironic, because the plifertions who pitch this are usually telling us a different story. Steve Charles the FED, has received a lot of criticism from the president, but one of the things they have been quietly doing is they have been putting a gusher of money into the economy liquid at this, its resulted in historic, low thirty year, fixed rate mortgage. Its two point: ninety eight percent- if you are thinking about refinancing Now- is the time to do it because less interest, you pay the more money you keep in your pocket that you can spend some place else. No doubt about that. In fact, the most recent refi numbers were up over one hundred percent year over year. Also, what if you are thinking about buying a home and by the way a lot of people are, there is a mass exodus out of these large
cities into suburbia and in our area in the New York area, its really significant, even Connecticut, seeing a wave of people move there out of New York City. Imagine if you want to start a household, the old american dream. The single family house, with the white picket fence, is much more attainable with mortgage rates at these levels and people are taking advantage of it. Yesterday we had the National Association of Home numberses. It has rocketed back its remarkable how quickly its come back. People want to own their own home, and now they can do it a lot easier than they could months ago. Brian, a lot of them are fixing up their home too, sadly, furloughed or laid off, and they are focusing on their own dwelling and putting more money into the economy. Retail sales are up seven point: five percent Charles Watch, you at 200 and throughout the day. Okay, all right. If anxiously was here, I would give her a shoutout for calling clothing up over one hundred percent last month. She called it Brian. She did. I will make sure to play this
back for her on her vcr, when she.
Transcript generated on 2020-07-21.