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Here’s what we’re talking about today.
This is a quick rundown of the topics we’ll be covering on today’s show. You can hit play to listen, or read the transcript below if that’s more your style.
Transcript:
Today is Tuesday August 12, 2025, and this is your news and preview of today's show.
Inflation rose at the fastest pace in six months. In July, core inflation increased 0.3 percent from the previous month and now stands at 3.1 percent year-over-year. This is just above the Federal Reserve’s preferred target range of 2 to 3 percent. The Consumer Price Index rose 2.7 percent over the past year.
Concerns about the reliability of economic data are growing. President Trump recently fired the head of the Bureau of Labor Statistics after a disappointing jobs report. Budget cuts have also reduced data collection, increasing reliance on estimates. Experts warn this could affect the accuracy of future inflation and employment reports.
Layoffs in the U.S. reached their highest levels since early COVID-19. July saw over 62,000 job cuts—a 29 percent rise from June and more than double last July. Federal government job cuts are a major factor, with nearly 300,000 positions eliminated this year. Private sector layoffs, especially in tech and retail, are also up, driven by automation and tariffs.
President Trump took control of the Washington, D.C. police and deployed 800 National Guard troops, bypassing city officials. This move sparked protests and concerns about politicizing the Guard, which is usually neutral.
Meanwhile, FBI Director Kash Patel, a Trump appointee, reported that the U.S. murder rate is actually on track to reach historic lows. This surprising statement contrasts sharply with the administration’s usual tough-on-crime rhetoric, which often emphasizes rising violence.
Trump also caused a stir by confusing Russia with the U.S. state of Alaska during public remarks about an upcoming visit. He spoke about “changes in land” and “oceanfront property,” but his statements were unclear and raised questions about his grasp on geography and policy.
On the Bonus Show today:
Pete Hegseth retweets a Christian nationalist pastor who doesn't think women should vote.
A Project 2025 guy is picked to replace the BLS leader Trump fired.
And suspicions grow surrounding Marjorie Taylor Greene's stock trading.
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