| The Biden-Harris administration has spent years building “strong” and “healthy” economic growth, which has created over 16 million jobs, overseen the lowest average unemployment rate of any administration in 50 years, and lowered costs of essentials like health care and prescription drugs – but Trump is set to risk the progress that has been made, and the American people will pay the price. Trump and his billionaire Cabinet want to push an expensive Project 2025 agenda that will rig the economy for the ultra-rich, create an “inflation bomb,” and raise costs for working families.
Here’s a look at the latest coverage of Donald Trump’s Project 2025 expensive and out-of-touch economic agenda that will destroy progress made under the Biden-Harris administration:
Politico: “ON THE JOBS — The evidence is increasingly clear that DONALD TRUMP will inherit a healthy economy when he returns to the White House next month, albeit one with some soft spots. The latest jobs report from the Bureau of Labor Statistics shows 227,000 jobs were added last month, while also revising the September and October upward.
“The figures are largely in line with what economists predicted after October’s statistics were impacted by major hurricanes and labor strikes. Though national unemployment rate remains near a 50-year low […]”
Boston Globe: “Donald Trump, who made criticizing high prices a campaign mantra as voters struggle with the lingering effects of 2022′s post-pandemic inflation spike, is set to take office with an economy that experts agree is healthy. All the key data points ― notably inflation, which is nearly back down to normal — are trending in the right direction. […]
“But that path is not set in stone. And economists worry that some of Trump’s policies could cause inflation to jump again.
“His plan to extend the sweeping 2017 tax cuts, and possibly expand them, could overheat the economy and drive up prices — especially if he tries to keep the Federal Reserve from raising interest rates to counter it. His vow for mass deportation of undocumented immigrants would drain workers from the economy and could cause prices to rise if employers have to boost wages even higher to attract US citizens to take those jobs.
“And Trump’s promise to hike tariffs on imported products — fees that US importers pay — could lead to higher prices here for those goods.”
The Telegraph: “Donald Trump risks tipping the US into recession if he follows through with the promises made on the campaign trail, a top economist has warned. […]
“Such an outcome would mark a massive slump when compared to the strong growth enjoyed by the US this year. NIESR estimates America’s economy will expand by 2.8pc in 2024.”
The Guardian: “White House spokeswoman Karine Jean-Pierre told reporters that Donald Trump will inherit a good economy, thanks to Joe Biden’s policies over the past four years.
“She also announced that Biden would promote his economic accomplishments in a speech on Tuesday, after government data released today showed that hiring remained strong in November.
“‘Over the last four years, the president has rejected trickle-down economics and written a new economic playbook that builds the economy from the middle out and bottom up, not the top down. This is a strong foundation for years to come … Trump will inherit an economy primed for growth.’”
States Newsroom: “The economy added 227,000 jobs in November, making for a strong jobs report despite a slight increase in the unemployment rate. Although the labor market has cooled this year, the Trump administration stands to inherit a fairly healthy labor market, with decent job growth across many sectors. […]
“Average hourly earnings rose 0.4%, the same as October, and 4% over the past year. Although some economists say the Federal Reserve would like to see wages come down to help it meet its 2% target for inflation, Wilson said higher wages are an indication that workers are benefiting from the current economy. She said she’s worried that the Trump administration will undo some of the economic progress she said has been made from the Biden administration’s major legislation.” |
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