The Glenn Beck Program Best of the Program | Guest: Stephen Moore | 11/4/25
Nov 4, 2025
Stephen Moore, an economist and co-founder of Unleash Prosperity, joins to discuss the alarming population outflow from New York, driven by tax policies and economic factors. He highlights how states like Florida and Texas are benefiting from this migration, emphasizing the importance of state tax policy on income distribution. The conversation also touches on the potential decline of the New York Stock Exchange as financial activity shifts to states with more favorable conditions. Moreover, the looming impact of the government shutdown on the economy is explored.
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Shutdown Drains The Financial System
- The government shutdown is removing liquidity as the Treasury hoards nearly a trillion dollars, starving overnight funding markets.
- That strain raises repo rates and will flow into higher mortgage, credit card, and grocery costs for Main Street.
End The Shutdown Quickly
- End the shutdown quickly to restore Treasury cash flow and normal repo-market functioning.
- Govern responsibly instead of relying on Fed emergency liquidity to sustain the system.
Population Losses Shift Tax Bases
- New York has lost roughly 2.5 million people over the past decade, shifting tax bases and congressional representation.
- High taxes and policy shifts risk accelerating wealthy and job-creating residents moving to states like Florida and Texas.