Interview with Reshad Hudson of Nexstar TV in Syracuse, New York

HUDSON: Well, thank you -- thank you so much for your time. We'll go ahead and get started.

THE PRESIDENT: OK.

HUDSON: So, talk to me about the importance of today's announcement here in Syracuse, a place that's near and dear to your heart. What does this mean for chip manufacturing, not just here but across the country?

THE PRESIDENT: Look, one of the thins that's happened in the last 25 years, we've lost a manufacturing base in places that used to be proud producers of good jobs, whether it's in northeast Pennsylvania or here or all across the country. They've lost hope. And this brings back hope. You see -- you saw the reaction of the people out there. It wasn't so much the brilliance of the speeches, it was there's hope. We're back. And it's going to mean that we are going to be the leading chip manufacturer in the world. We invented these chips. We did the memory chips. We're the ones that did all the -- we, the United States. It's about time it came home.

HUDSON: I want to turn to the economy. Today's GDP report shows that the US economy grew 2.6 percent in the third quarter. What's your top-line reaction to that?

THE PRESIDENT: Top-line reaction is really good. There's nothing bad about the report. Nothing bad about the report. And the core inflation is actually down about 1.5. We're in a situation where we've created more jobs. We're in a situation where -- and look, the price of gasoline is falling. The price of gasoline in just in the last several months is down $1.26 or $1.27. And if the -- if the oil companies start to charge what they should be charging based on the cost of a barrel of oil, it'd be down to another $0.40. And I'm going to keep pushing as I get it down.

HUDSON: But what do you say to Americans? Because gas prices to many people are still too high, groceries are still expensive, what's your message to Americans?

THE PRESIDENT: My messages were getting them down. I told you I'd bring them down. We're bringing it down. I come from a family where ever gas prices went up or food prices went up, what happened? What happened was it was a conversation on the kitchen table. And we're doing a whole lot of other things. And by the way, the food prices -- the main driver of food prices is not the price of beef and eggs, etc., although they're up. It's packaged goods. Packaged goods. You're going to see people not buying Kellogg's Raisin Bran, which you're going to see them buy another raisin bran, which would be a dollar cheaper.

I mean, so what's happening is there is a real movement. We're better positioned than any country in the world, any major country in the world. And our economy is growing and is still in a place where it's leveling out in a rational means. The other thing is that I think you're going to see that people are looking to say, wow, price -- not only gas is down, but the price of I'm not getting charged for overdraft in my checks. I'm not getting charges, right?

There's all kinds of things we're doing. And one of the big things was we were able to -- what we did with the Inflation Reduction Act is we reduce the cost of a lot of things for people, things that they need, prescription drugs. You know, the idea that the most senior citizen is going to have to pay for their drugs per year is 2,000. Some are paying 13,000 14,000, 15,000 because of cancer drugs. That changes. Two thousand max. If, in fact, they raise the price like they did on 1,200 prescription drugs last year for pharma companies, guess what? If they raise it higher than the price of inflation, they've got to pay it back to Medicare. So, there's a lot going on to reduce people's burdens.

HUDSON: I want to turn to next month's election. You've referred to the midterm election as a choice rather than a referendum. Given record inflation, why should voters choose Democrats?

THE PRESIDENT: Because it's not record inflation anymore. I'm bringing it down. Look what we inherited. I inherited 69 percent unemployment. It's down to 3.5 percent. We have -- we lost 600 -- we lost hundreds of thousands of manufacturing jobs. I've -- we've created over 600,000 -- 700,000 manufacturing jobs. Things are moving. As that report shows that you have people who are now in a position where the combination of pay raises and job security, they're now in a better off, even with inflation, than they were before it. And inflation is coming down.

HUDSON: I want to ask you about the conflict in Russia -- or in Ukraine. Today, President Putin of Russia said that he has no intent to use chemical or nuclear weapons in Ukraine. Do you believe him?

THE PRESIDENT: I think he -- if he has no intention, why does he keep talking about it? Why is he talking about the -- the -- the ability to use a tactical nuclear weapon? He's been very dangerous in how he's approached this, and he should just get out -- he can end this all, get out of Ukraine.

HUDSON: And one on student loans, if I can. A judge has halted that -- your plan to relieve debt for millions of Americans that are struggling with student loans. What's your response to that?

THE PRESIDENT: We're going to win that case. I think in the next two weeks you're going to see those checks going out. That's my response. Thank you, man.

HUDSON: Thank you so much for your time, Mr. President.

THE PRESIDENT: Appreciate it. Thank you.

HUDSON: Good to see you.

THE PRESIDENT: You guys are all over, aren't you?

HUDSON: We are.

THE PRESIDENT: No, it's really quite -- I mean, I don't know whose idea it was, but it's a hell of an idea. Because you're going to --

HUDSON: [Inaudible] coast to coast.

THE PRESIDENT: No, I really mean it. It really matters. And -- and you're -- you're responding, in my view, how people live. They -- they don't have chance to sit in front of the news for, you know, 40, 50 minutes. You know, you're picking up what's happening around the world in -- in local communities.

HUDSON: Yes, sir.

THE PRESIDENT: Congratulations.

HUDSON: Thank you so much.

THE PRESIDENT: Thanks for having me. I appreciate it.

HUDSON: Thank you.

THE PRESIDENT: OK.