One of the ironies is that voters often mistakenly believe a Republican presidential administration will usher in a stronger economy despite the fact that data shows historically the reverse is true. The economy flourishes more under Democrat administrations and the federal deficit is better controlled in contrast to Republican regimes explode the deficit - as the Felon has done in both of his terms. This ironic misconception was on full display in the lead up to the 2024 election when the Felon and Republicans railed against the so-called Biden economy and promised to lower prices, lower inflation, increase job opportunities and, of course, cut taxes for the very wealthy. Almost eight months into his second regime, other than cutting taxes for the very wealthy, none of these promises have been delivered upon. Instead, the opposite has occurred: consumer prices are up in significant part due to the Felon's tariffs, inflation has not gone down, and the jobs reports are dismal, again in part due to the Felon's mass firings of federal employees (Virginia has been particularly harmed) and huge cuts to funding for research and funding for renewable energy resources (the Felon has cut $679M for offshore wind projects, including 2 in Hampton Roads). Throw in the harm done to the agriculture and construction industries by the ICE raids on undocumented workers and it is clear the economy is struggling. Hopefully, all of this will catch up with the Felon and Republicans who continue to debase themselves by pandering the Felon. A piece in the New York Times takes stock of where we are at present:
Last year, Donald Trump couldn’t stop talking about the economy. As a presidential candidate, he assailed Democrats for inflation and rode the persistent malaise over the high cost of living right back to the White House, promising swift relief even though economists warned that his plans could actually drive prices higher.
Today’s [yesterday’s] lackluster jobs numbers are a reminder of how quickly the issue could present him, and his party, with political peril as elections approach.
The economy added only 22,000 jobs in August, which, my colleague Lydia DePillis explained, is a sign that the labor market appears to be stalling. Looking backward, the news is even worse: A revision to June’s figures shows the labor market actually lost 13,000 jobs that month, making it the first negative number since December 2020.
There are other signs of trouble. A key measure of underlying inflation rose over the summer as Trump’s tariffs put pressure on prices, driving up the costs of things like furniture, appliances and clothing. Manufacturing activity has been shrinking for six months.
It’s not clear right now just what will happen to the economy between now and next year’s midterm elections. . . . But what is clear, right now at least, is that the president has a problem.
A recent Gallup poll found that his approval rating on the economy fell to 37 percent in August, from 42 percent in February. That’s a steep drop from his average approval rating on the economy during his first term, which was 52 percent.
When you dig into specific issues, it doesn’t look any better. A poll late last month by The Economist and YouGov found inflation to be the top ranked issue for voters — and just 34 percent of them approved of his handling of the issue, according to the poll.
And then there’s the vibe — the feeling of malaise that weighed down President Biden and Vice President Kamala Harris last fall. Last month, 63 percent of Americans thought the economy is getting worse, Gallup found — one point higher than the 62 percent who believed that in October 2024, right before the election.
Democrats are seizing the moment as an inflection point, eager to hammer home to voters what Trump has done to make the economy his own as they attempt to wrest control of Congress from Republicans next year. Trump passed expansive tax cuts into law and implemented steep tariffs that have driven up prices of everyday goods and raw materials. He is also trying to exert more control over the historically independent Federal Reserve.
“The American people are feeling the impact of the Trump administration’s dangerous one-man command policies in community after community,” Representative Hakeem Jeffries of New York, the House minority leader, said in a statement on Friday. He added that Trump and Republicans had promised to lower the cost of living, but failed.
They [Democrats] believe a laser focus on the economy can help them win in tough races next year. Voters rated the economy as their top issue in every one of The New York Times and Siena College’s pre-election polls last year, and exit polls showed that Trump outperformed Harris among those who believed the economy was in poor shape.
Trump is already working hard to make sure the midterms are about anything other than the economy. He has openly said that he believes his crackdown on crime in Washington — which he has said he intends to expand to cities like Chicago and perhaps New Orleans — will play well for him next fall.
Days after the leaders of three major Eastern powers — China, Russia and India — clasped hands and shared a warm greeting, Trump acknowledged India’s shift away from the U.S. and toward America’s adversaries. . . . . Trump did not mention the role he played in pushing the country away.
In August, he imposed 50 percent tariffs on India for importing Russian oil. Trump has also claimed that he “solved” the military conflict between India and Pakistan. That irked India’s leader, Prime Minister Narendra Modi, who told him U.S. involvement had nothing to do with a May cease-fire.
Trump’s post, . . . was an unusual acknowledgment that his blunt force approach has had unintended consequences.
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