Everyone is complaining about gas prices. The LA Times is running story after story about Americans cutting back. The Washington Post says soaring diesel prices are clobbering Trump’s MAGA faithful.
Larry Elder has the data nobody is printing.
JP Morgan — not exactly a Trump propaganda outlet — says that as a percentage of disposable income gasoline expenditure sits at about 2.5%. One of the lowest levels in the past 65 years. And here is the calculation that blows the entire narrative apart. In 1976 gas cost 59 cents a gallon — $3.36 in today’s dollars. But the average car in 1976 got 14.2 miles per gallon. Today the average car gets 27.2 miles per gallon — nearly double. So in 1976 you spent 23.7 cents per mile. Today you spend 16.5 cents per mile. The cost per mile is 30% lower than 1976. A driver doing 12,000 miles a year spends about $863 less today than they would have in 1976 adjusted for inflation. How many times have you seen that in any article about gas prices?
Also on today’s show — Republican senators grill Jack Smith on lawfare bias and the Trump witch hunt. Smith investigated Trump on two charges — January 6th and classified documents. Both charges were dropped after the Supreme Court ruling on presidential immunity. Not one of the hundreds of January 6th defendants was ever charged with insurrection. Biden had more classified documents in more places and was not charged because the prosecutor said a jury wouldn’t convict an elderly man with a poor memory. Larry calls it a vendetta.
Marco Rubio explains why Trump had no choice but to wage war on Iran. The five UK Air Force base terror suspects are out on bail. AOC is not being invited to campaign in swing districts. Ro Khanna says if Democrats take back Congress the Epstein files should be a top priority. Trump has a 98% approval rating among MAGA voters. And a closing conversation about political discrimination in universities and hiring — conservatives afraid to voice their opinions for fear of lower grades and lost jobs.
888-971-SAGE. I am Larry Elder.
00:00 Welcome — no victocrats allowed
01:15 Gas prices — the LA Times narrative vs the JP Morgan data
04:33 As a percentage of disposable income gas is at one of its lowest levels in 65 years
07:22 The miles per gallon calculation that changes everything — 30% cheaper per mile than 1976
10:44 Jack Smith under fire — Republicans grill him on lawfare and bias
14:08 Two Trump investigations two dropped charges one very angry Senate
16:33 January 6th — not one defendant charged with insurrection
18:47 Biden had more classified documents in more places — not charged
21:02 Marco Rubio — Trump had no choice but to wage war on Iran
24:18 The five UK Air Force base terror suspects are already out on bail
26:33 AOC not invited to campaign in swing districts — El-Sayed the exception
28:44 Ro Khanna — Epstein files should be Democrats’ top priority if they take Congress
30:58 Trump’s 98% approval rating among MAGA voters
32:15 Political discrimination in hiring and universities — conservatives afraid to speak
38:02 Closing — be on time tomorrow
