Donald Trump is failing already
He was elected on promises to improve the economy, stop inflation, and lower prices. Not only has Donald Te He Drump failed those promises, but he’s not even thinking about them. Instead, he’s slowly making them all worse. All Trump is interested in right now is firing workers and tariffs. Associated Press reported that he has fired “thousands” of workers who were still in their probationary period, and some were given less than an hour to leave. The firings include medical scientists, energy infrastructure specialists, foreign service employees, FBI agents, prosecutors, educational and farming data experts, overseas aid workers, and human resources personnel. Trump is giving new meaning to the term “cleaning house.” Even though he tried bragged about his unemployment numbers, he won’t be doing that now. He is poised to throw the country into a recession.
According to the latest data, inflation rose 0.5% in January. That may not sound like much now, but if it continues to rise, we’ll be right back where we were before President Biden’s policies took it down to record lows. In fact, the Associated Press reported that over the past three months, the consumer price index has increased at an annual rate of 4.5%, which is a sure sign that inflation is coming. Not surprisingly, Trump’s ignorant press secretary is blaming President Biden for the rising inflation. Sorry, girlfriend, but President Biden is gone. This is on Trump and his actions to date, and it’s only going to get worse as thousands become unemployed. Trump has already caused a dip in consumer confidence, as the Commerce Department reported that retail sales slipped 0.9% in January, and the Federal Reserve reported that factory output is down 0.1%, credited to a 5.2% drop in motor vehicle manufacturing. This is only the beginning, folks. Hopefully, these numbers will improve for February, but if they don’t, we’ll know what we’re looking at as far as the future of our economy. Let’s not forget the tariffs that Trump thinks are the answer to everything.
Trump has temporarily frozen tariffs on Canada and Mexico; however, he has other plans. Trump also plans to levy tariffs on vehicles, computer chips, and pharmaceuticals, as well as the 25% on steel aluminum that he already announced. Trump continues to insist that the importing company will pay the tariffs, but that is simply untrue. The Tax Foundation estimates that the tariffs on Canada and Mexico will reduce long-run GDP by 0.3%; tariffs on China, 0.1%; and tariffs on steel and aluminum, 0.05%. Further, academic and governmental studies show that tariffs have raised prices and reduced output and employment. These numbers don’t even consider retaliatory tariffs that will do even more damage. Trump is considering studies following the Great Depression when tariffs saved the American economy, but it’s not 1930; it’s 2025. The economy is different than it was, and the impact of tariffs will be different on today’s economy. He refuses to believe that, but make sure you understand how they work and how they will impact you and your family.
Shirley is a former entertainment writer and has worked in the legal field for over 25 years