This week has been an unmitigated disaster for Donald Trump, and the economic numbers are no exception. More Americans are out of work, prices are rising, economic growth forecasts are declining, and signs of a slowing economy are emerging as spending drops across industries ranging from tourism to construction. The full impact of Trump’s disastrous first six months is slowly starting to sink in as well; thanks to DOGE cuts, Social Security checks could be smaller, government economic data is less reliable than ever, and regulatory cuts could have real-life costs for many Americans.
Trump and his allies have made it clear that they have no issue forcing working-class Americans to take it all on the chin while they act recklessly to enrich Trump and his billionaire friends. As Republicans in Congress hammer out just how much to severely slash essential health and food services for vulnerable seniors and children so they can line the pockets of millionaires and billionaires, Trump continues to put aside the concerns of working families and tank the economy. But don’t just take our word for it:
TRUMP’S TERRIBLE WEEK:
- 💼 UNEMPLOYMENT RISES AS MAJOR COMPANIES SLASH JOBS
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- Reuters: US Weekly Jobless Claims Rise For Second Straight Week.
- Atlanta Journal-Constitution: The Number Of Americans Filing For Jobless Benefits Last Week Rises To Highest Level In Eight Months.
- CNBC: Private Sector Hiring Rose By Just 37,000 In May, The Lowest In More Than Two Years, ADP Says As Job Market Weakens.
- MarketWatch: P&G Becomes The Latest Consumer Giant To Cut Jobs, With 7,000 Employees Set To Be Fired.
- CNBC: Social Security Checks May Be Smaller Starting In June For Some, As Student Loan Garnishments Begin.
- 📈 PRICES RISE IN RESPONSE TO TRUMP’S DISASTEROUS TARIFFS
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- Barron’s: 75% of Companies Have Already Raised Prices in Response to Tariffs, Fed Survey Finds.
- CNBC: Most Companies Are Already Raising Prices Or Plan To Because Of Tariffs, Data Shows.
- Axios: Businesses Are Raising Prices After Tariffs, Even On Unaffected Goods.
- The Washington Post: Rising Prices, War Rooms And Layoffs: The Cost Of Trump’s Tariffs Is Coming.
- CNBC: Trump’s 50% Steel Tariff Could See Prices Tank In Europe — And Soar In the U.S.
- The Washington Post: Businesses Brace For Steel And Aluminum Tariffs, Which Double Today.
- The New York Times: How Trump’s Regulatory Rollbacks Are Increasing Costs on Americans.
- 📊 TRUMP HIDES DATA SHOWING ECONOMY FALTERING
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- The Wall Street Journal: Economists Raise Questions About Quality of U.S. Inflation Data.
- Politico: Trump Officials Delayed Farm Trade Report Over Deficit Forecast.
- 📉 GROWTH DECLINES AS TRADE WAR TAKES TOLL
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- The Associated Press: US Growth Likely To Slow To 1.6% This Year, Hobbled By Trump’s Trade Wars, OECD Says.
- CNBC: Fed ‘Beige Book’ Economic Report Cites Declining Growth, Rising Prices And Slow Hiring.
- 🐌 SIGNS OF SLOWING ECONOMY EMERGE AS SPENDING DROPS
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- The New York Times: Imports Plummet in April as Tariffs Weigh on Trade.
- Minnesota Star-Tribune: Minnesota Factories See Orders Tank On Continued Trade Uncertainty.
- Reuters: US Construction Spending Falls In April On Weakness In Single-Family Housing Projects.
- The New York Times: The Housing Market Hasn’t Recovered This Year, Analysis Reveals Ongoing Real Estate Challenges.
- Reuters: Tariff Gloom Weighs On US Manufacturing; Delivery Times Lengthening.
- CNN: Small Businesses Struggle Under Trump’s Tariff Whiplash: ‘I’m So Angry That My Own Government Has Done This To Me’.
- The Wall Street Journal: It’s Summer Vacation Time. Tourists Are Saying No to America.