On the recordJanuary 23, 2025
it seems like a long time ago that we had the general election on November 5. It seems like a lot of water under the bridge, over the transom, whatever your metaphor might be, but we do know with clarity that this election was a referendum on the policies of the Biden administration and on the direction that they had chosen for the country. And the vast majority of Americans believed, according to public opinion polls, that the country was heading in the wrong direction. And so if you think about it, one of the great strengths of democracy in our great Republic is when people feel like the country is heading in the wrong direction, they have the power to change it, and, indeed, they did by electing President Trump and Republican majorities in the House and Senate on November 5. Over the last 4 years, we know that people in my State of Texas and across the country have been living under the burden of high prices and high interest rates, almost exclusively caused by reckless, excessive spending by the Federal Government. I had a chance to question Russ Vought who will be the next Director of the Office of Management and Budget, and he confirmed what Milton Friedman told us a long time ago; that inflation is almost exclusively the consequence of excess Federal spending.…





