Donald Trump told CEO and financial guru Dave Ramsey during a wide-ranging interview how he plans to fix the economy if elected.
Ramsey, a best-selling author, radio host and economic consultant whose net worth is believed to be so between $150 million and $200 million, spoke with the former president and Republican candidate on The Dave Ramsey Show for a 25-minute conversation.
He told Ramsay that inflation is “more important than the economy” and that he plans to drop prices by 50% in his first year in office and that when energy prices fall, interest rates and “other things will follow.”
The former president’s plans rely largely on releasing oil and other forms of American energy to increase supply and demand.
“I’d like to use a different phrase, but there’s no better phrase: We’re going to drill, baby, drill,” because it “Takes that burden off the shoulders of the economy and off the shoulders of inflation itself,” Trump said
CEO and financial guru Dave Ramsey left an extensive interview with Donald Trump impressed by his plans for the economy should he win back the White House
‘The first thing you have to do is get the energy down. If you bring the energy down, other things will follow. We’re going to be drilling at levels not seen since four or five years ago,” he continued.
The president spoke passionately about how he believes he should push back on the inflated prices of so-called “Bidenomics.”
‘You’re right about inflation. And it’s almost inflation over the economy, if you really want to know, because people are being wiped out like never before,” Trump said.
‘I think this is the highest inflation we’ve ever had. They say it’s the highest in 48 years. I think this is the highest ever. The first thing you need to do is get the energy [costs] down.’
Trump was also very passionate about protecting Social Security benefits for seniors.
‘We must save social security and keep it good and solid. I don’t want to raise the age or anything,” Trump said.
He also blamed the migrant crisis for draining public services for seniors and suggested that repairing the border would help save the program.
Trump again promoted his cornerstone ideas of cutting corporate taxes and raising rates, announcing what he believes will be the norm in his administration.
The former president’s plans rely largely on releasing oil and other forms of American energy to increase supply and demand
He says he plans to lower the corporate tax rate, which fell from 39% to 21% during his first term, to 15%, but only if you make your product in America.
‘You have to make your product here, and then you pay 15% [in corporate taxes]’, and then I’m going to put tariffs on countries so they can’t come in and steal our businesses, so our businesses can be competitive now,” Trump said.
Trump also spoke briefly about his admiration and fandom for Ramsey, his advice to his children to never drink or do drugs and how he believes God spared his life from two assassination attempts.
Ramsey said Fox Business On Thursday, Trump said he was “direct and very knowledgeable about tax rates and what’s going on in the energy world and how that impacts the economy, and how to best control a commodity market from the presidential seat.”
He said he liked these plans to unleash American energy the most.
“You can encourage: ‘drill, baby, drill.’ You can encourage the opening of the Keystone Pipeline, and if you flood a commodity market with that commodity, we all know it’s supply and demand that drives the price down,” Ramsey said.
Ramsey, despite being fiscally and culturally conservative, has expressed skepticism of both Kamala Harris and Trump on the economy.
“None of these people will be your savior. Neither [them] are fiscally responsible people,” he previously said Yahoo Finance.
Ramsey, a best-selling author, radio host and economic advisor whose net worth is estimated to be between $150 and $200 million, sat down with the former president and Republican candidate on The Dave Ramsey Show for a 25-minute conversation.
Ramsey has offered Vice President Kamala Harris a similar sitdown interview
The host — who has offered a similar sitdown to Vice President Harris — was a bit more skeptical of Trump when it came to cutting prices in half.
“That’s your indirect energy connectivity if you want to reduce inflation and stimulate an economy. But I have no idea about 50%. That didn’t seem logical to me.’
Ramsey later told Laura Ingraham Fox News that he believes the economy is the most important issue ahead of the election.
Many polls have shown that the economy is even surpassing immigration and abortion as the biggest issue for voters.
That could be the key to Trump’s victory, as a recent poll showed Trump leading Harris when it comes to crucial senior voters in the key state of Pennsylvania as the economy remains the top issue for them.
According to new polling from AARP, Trump leads among voters age 50 and older by as much as eight points in the state, 52 percent to 44 percent, and these voters say they are highly motivated to cast their ballots in the election.
With its nineteen electoral votes, Pennsylvania is one of the most important swing states for both Trump and Harris on their way to the White House, and could decide the entire election.
The polls show that while Trump has the lead among seniors, the race in Pennsylvania remains close overall, with Harris up 49 percent to Trump’s 47 percent. Three percent of voters remain undecided, with just 35 days to go until Election Day.
Trump also spoke briefly about his admiration and fandom for Ramsey, his advice to his children to never drink or do drugs and how he believes God spared his life from two assassination attempts.
Voters age 50 and older are among the group most likely to show up and vote in elections.
AARP found that ninety-one percent of voters age fifty and older said they were “extremely motivated” to vote in the upcoming election. It’s a six percent increase since the AARP’s first poll of 2024 in the state in May.
At the same time, only 71 percent of voters under fifty say they are extremely motivated.
The poll found that while older voters see several issues as important, the economy and employment are among the most important issues for such voters in the state.
The vast majority also said that Social Security, Medicare and helping people stay in their homes as they age are also extremely important when it comes to who they vote for.
Among older voters, the costs of food, utilities, health care and prescription drugs are among the top concerns for voters age 50 and older, as prices have remained high relative to pre-pandemic levels.