President Trump’s response to the economic downturn caused by his tariff policies relies on a familiar, yet ineffective, presidential formula: acknowledging hardship while promising future prosperity. This message, however, clashes with his past rhetoric of instant gratification and is particularly unconvincing given his administration’s justifications, such as claiming reduced cargo ship arrivals are economically positive despite potential job losses. The administration’s argument for long-term sacrifice is further undermined by the public’s individualistic tendencies, exacerbated by the pandemic and anti-mask sentiments. Ultimately, Trump’s inability to inspire collective action contrasts sharply with historical examples of national unity, rendering his current appeal for patience unlikely to succeed.
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Contrary to Trump’s assertions, economists widely disagree that tariffs reduce trade deficits or stimulate domestic job growth. Instead, experts argue that tariffs harm American consumers through higher prices and reduced spending. The Harvard Kennedy School further contends that the trade deficit itself is not inherently problematic, as American investments abroad largely offset foreign earnings within the U.S. Therefore, the economic impact of tariffs is overwhelmingly negative for the American economy.
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In the wake of a 60 Minutes interview with Vice President Kamala Harris, Trump launched a $20 billion lawsuit against CBS, alleging election interference due to perceived selective editing of Harris’s remarks on Israeli Prime Minister Netanyahu. This claim, amplified by Trump and his allies, escalated to demands for CBS’s broadcasting license revocation. Furthermore, Trump accused The New York Times of tortious interference for quoting those who dismissed the lawsuit as baseless. The controversy centers on differing versions of a short answer given by Harris, aired across multiple CBS broadcasts.
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The Trump administration’s recent claim that a shrinking economy and lower standard of living are positive developments contradicts previous campaign promises of economic prosperity. Cabinet members have promoted a vision of multi-generational factory work as the new American dream, despite stagnant wages and lack of upward mobility. This narrative clashes with public opinion, as polls reveal a significant portion of Americans, including Trump voters, disapprove of his economic policies. The administration’s response has been inconsistent, with Trump shifting blame to Biden while simultaneously boasting about his own economic achievements. This disconnect has left many voters, including some of his supporters, experiencing buyer’s remorse.
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Contrary to headlines, President Trump did not actually fire any Federal Trade Commission commissioners; he merely stated his desire to do so, a power he legally lacks. News coverage often misrepresents Trump’s actions, as exemplified by headlines employing mixed metaphors or accepting his economic claims at face value. Such reporting fails to address the underlying issue: Trump’s policies stem from his corruption and intellectual decline, not from any coherent plan. His erratic economic decisions, therefore, are best understood through the lens of his personal failings.
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President Trump’s second term has seen a sharp decline in his economic approval ratings, with multiple polls showing significant disapproval of his handling of inflation, tariffs, and stock market volatility. A majority of respondents across various surveys believe the economy has worsened under his leadership. His inconsistent trade policies, including recently imposed and then partially suspended tariffs, have injected uncertainty into the market and raised concerns about higher prices and product shortages. This contrasts sharply with his initial success in 2020, which was fueled by economic optimism.
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A New York Times/Siena College poll reveals that President Trump’s approval rating stands at 42% after his first 100 days, marked by significant policy changes including tariffs, immigration crackdowns, and cuts to federal programs. A majority of respondents disapprove of his handling of the economy (76%), immigration (52%), and his approach to diversity initiatives (47%). The poll also highlights widespread perceptions of the administration as “chaotic” (66%) and “scary” (59%), underscoring a significant level of public dissatisfaction. Even with his economic policies, a notable percentage of respondents (44%) anticipate negative personal consequences.
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Citadel CEO Ken Griffin criticizes President Trump’s policies, asserting that his aggressive approach is harming the US economy and international relationships. Trump’s actions, including trade tariffs and threats against the Federal Reserve, have eroded the reputation of US assets, resulting in a significant devaluation of the US dollar relative to the euro. This economic instability, Griffin argues, creates a zero-sum game where everyone loses, and risks long-term damage to America’s global standing and brand. He expresses deep concern over the damage inflicted on the US reputation, drawing parallels to the administration’s attacks on institutions like Harvard University.
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President Trump’s continued attacks on Federal Reserve Chair Jerome Powell, coupled with ongoing tariff uncertainty, sent US stocks and the dollar plummeting on Monday. The Dow dropped over 1,190 points, while the dollar reached a three-year low, reflecting investor concerns about the administration’s unconventional approach to economic policy. This market downturn comes as Powell warned of the inflationary and growth-stunting potential of Trump’s tariffs, further exacerbating existing anxieties. The weakening dollar and rising gold prices signal a loss of confidence in US economic stability, prompting investors to seek safe haven assets.
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Trump is single-handedly dismantling the economic progress achieved during Biden’s presidency, a fact that transcends partisan lines and resonates globally. This isn’t merely about reversing specific policies; it’s a broader attack on the very foundations of economic stability and prosperity built over decades, if not centuries.
Trump’s actions represent a pattern of Republican administrations leaving economic devastation for their Democratic successors to clean up, a cycle that seems to repeat itself relentlessly. This isn’t a mere partisan squabble; the damage extends far beyond US borders, negatively impacting the global economy and eroding the country’s standing on the world stage.
The assertion that this was a “great economy” under Biden needs qualification.… Continue reading
John Q. Hosedrinker 
Matt Underwood