During his campaign, Donald Trump repeatedly emphasized high grocery prices as a key issue, promising to lower them upon re-election, a pledge seemingly crucial to his victory. He attributed the high prices to President Biden’s policies and asserted his presidency would reverse this trend. However, Trump’s proposed economic plan, including substantial tariffs, is widely considered by economists to potentially exacerbate inflation, contradicting his campaign promises. Despite acknowledging the possibility of rising prices due to tariffs, Trump maintains his assertion that grocery prices will decrease, though offering no concrete guarantees.
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In a recent interview, President-elect Trump acknowledged the difficulty of broadly reducing consumer prices, a claim contradicting his campaign promises of rapid price decreases. He previously pledged to slash prices on various goods and services, including gas and groceries, and to “end inflation.” These promises, however, lacked specific policy details, and economists have warned that some of his proposed measures, like tariffs, could actually increase prices. The significant inflation of 2022, largely driven by supply chain issues and strong consumer demand, further complicates efforts to rapidly lower prices.
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The offer, seemingly tailored for Elon Musk and similar figures, promises lucrative opportunities to private entities. The plan’s specifics remain undefined, but it may facilitate the expansion of fossil fuel production under Trump’s “Drill, Baby, Drill!” initiative. This could lead to significant profits for those involved while potentially undermining environmental regulations. Musk’s enthusiastic response highlights the potential for significant private sector gains at the expense of essential governmental functions.
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FBI Director Christopher Wray announced his resignation, effective January, clearing the path for President-elect Trump to appoint his preferred candidate, Kash Patel. Wray’s departure follows increasing criticism from Trump regarding FBI investigations into the former president. These investigations, which led to two dropped federal prosecutions due to DOJ policy, involved Trump’s efforts to overturn the 2020 election and handling of classified documents. Trump lauded Wray’s resignation, while simultaneously praising Patel’s qualifications for the directorship.
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Despite Donald Trump’s impending return to the presidency, the $454 million civil fraud judgment against him and his sons will remain in effect. New York Attorney General Letitia James’ office firmly rejected a request to drop the case, emphasizing that presidential immunity does not extend to civil litigation. The judgment, stemming from allegations of fraudulent financial statements, totals $490 million with interest. James intends to continue defending the judgment as Trump’s appeal proceeds.
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President Biden touted the current robust U.S. economy, highlighting job growth, infrastructure projects, and reduced inflation as key achievements of his administration. He warned against President-elect Trump’s proposed widespread tariffs, arguing they would harm American consumers and trigger inflation. Biden’s assessment contrasts with Trump’s past claims of economic success and his current plans for even broader tariffs than those imposed during his first term. Economic advisors predict that such tariffs would rapidly reverse positive economic trends.
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The Biden administration is exploring stricter sanctions on Russia’s oil industry to further cripple its war effort, a move previously resisted due to potential energy price increases. These new measures, currently under development, could involve limitations on certain Russian oil exports. This shift in strategy comes amidst falling global oil prices and concerns about a potential Trump administration pursuing a swift resolution to the conflict in Ukraine, potentially unfavorable to the country. The administration is now willing to risk higher energy costs to counter these threats.
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President-elect Trump’s recent social media post referred to Prime Minister Trudeau as the “governor” of a “great state,” implying Canada should become the 51st U.S. state. This follows Trump’s previous suggestion that Canada’s trade deficit necessitates annexation. Trudeau’s stated preparedness to respond to potential tariffs prompted Trump’s remarks, while Canadian officials offered varied responses, ranging from dismissal to assurances of defending national interests.
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Despite President-elect Trump’s public assertion that Social Security will remain untouched, statements from his allies and his own past actions contradict this claim. Key figures like Musk and Ramaswamy have indicated openness to cuts, while Trump himself previously suggested and even proposed budget cuts to the program. This contrasts sharply with widespread public support for Social Security and opposition to benefit reductions. The ultimate fate of Social Security under the Trump administration remains uncertain.
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John Q. Hosedrinker