TX Sen. Ted Cruz Joins the Show!

Clay highlights encouraging data showing core inflation dropping to 2.6%, its lowest level since March 2021. The hosts explain why this trend signals progress toward the Federal Reserve’s 2% target and could lead to lower interest rates in 2026. They also discuss affordability challenges and debate proposals like capping credit card interest rates at 10%, with Senator Ted Cruz joining the show to warn about unintended consequences that could hurt low-income Americans by restricting access to credit.

The hour concludes with a deep dive into Iran’s escalating protests against the Ayatollah’s regime, featuring an extended interview with Texas Senator Ted Cruz. Cruz calls the uprising a potential “Berlin Wall moment,” predicting the Islamic theocracy could collapse within weeks following its humiliating defeat in the recent 12-day war with Israel. He praises President Trump’s strong stance in support of Iranian freedom and outlines strategies ranging from cyber operations to limited kinetic strikes against regime forces, while stressing the importance of keeping the revolution authentically Iranian. Cruz also reveals that Elon Musk has activated Starlink over Iran to help protesters bypass government censorship, underscoring the role of technology in modern resistance movements.

Buck's Crazy Credit Card Story

From cultural flashpoints, the discussion moves to economic policy and affordability, spotlighting Trump’s proposal to cap credit card interest rates at 10% for one year. Clay questions whether a president can legally impose such a cap, while Buck recalls predatory practices like shifting due dates and punitive APR hikes that previously triggered regulatory crackdowns. Senator Ted Cruz warns that such caps could backfire by restricting credit access for high-risk borrowers, pushing them toward payday lenders or worse. Listener calls enrich the debate: one caller warns that temporary caps could encourage larger balances only to reset at 20% later, echoing pitfalls of adjustable-rate mortgages; another shares a teachable moment with her grandson about compound interest and minimum payments, underscoring the need for financial literacy in schools. Clay contextualizes Trump’s move as part of a broader populist strategy to address affordability concerns heading into the 2026 midterms, alongside proposals to curb institutional home purchases.

Financial Literacy Isn't Taught at School

The hour opens with a candid discussion on financial literacy and mortgage realities, as Clay explains how most homeowners misunderstand amortization tables. For the first decade of a 30-year mortgage, nearly all payments go toward interest rather than principal, leaving many Americans unaware of how little equity they build early on. The hosts argue that schools fail to teach essential financial skills—such as understanding compound interest, credit card debt, and mortgage structures—leaving consumers vulnerable to predatory practices. This ties into their broader critique of systemic financial inequities and the need for transparency in lending.

The conversation then shifts to Trump’s economic agenda, highlighted by his speech at the Detroit Economic Club. Clay and Buck analyze Trump’s populist proposals, including a one-year cap on credit card interest rates at 10% and restrictions on institutional investors buying single-family homes. They debate the feasibility and impact of these measures, noting that while Trump’s plan may face legal hurdles, it resonates politically by addressing affordability concerns. Buck shares personal anecdotes about credit card companies’ predatory tactics, reinforcing why Trump’s stance on consumer protection is striking a chord with voters. The hosts also explore how housing shortages are exacerbated by illegal immigration and corporate ownership of residential properties, driving up prices and squeezing middle-class families.

SCOTUS Trans Athlete Arguments

From economics, the hour pivots to a landmark Supreme Court case on transgender athletes in women’s sports, featuring an interview with Jennifer Sey, founder of XX-XY Athletics and former Levi’s executive. Sey, who spoke at a rally on the steps of the Supreme Court alongside Riley Gaines, calls the case a fight for reality and fairness, arguing that Title IX was designed to protect female athletes based on biological sex—not gender identity. She warns that allowing males to compete in women’s sports undermines decades of progress and discourages girls from participating. Sey predicts that even if the Court rules 6–3 in favor of states like West Virginia and Idaho, progressive states will double down on policies permitting biological males in female sports, framing the issue as a cultural battle that must be fought beyond the courtroom. Clay and Buck echo her concerns, blasting terms like “cisgender” and “trans girls” as linguistic fictions that normalize gender ideology at the expense of women’s rights.

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January 9, 2026

Letters from an American

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