Tag Archives: Trumponomics

Enumerati

Budget Deficit Tops $1 Trillion for First Time in Seven Years

$1 trillion

“The U.S. budget gap widened to more than $1 trillion in the first 11 months of the fiscal year, the Treasury Department said Thursday, the first time deficits have topped that amount in seven years,” the Wall Street Journal reports.

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Trump’s Trade War Has Killed 300,000 Jobs

300,000

Yahoo News: “Forecasting firm Moody’s Analytics estimates that Trump’s trade war with China has already reduced U.S. employment by 300,000 jobs, compared with likely employment levels absent the trade war. … That’s a combination of jobs eliminated by firms struggling with tariffs and other elements of the trade war, and jobs that would have been created but haven’t because of reduced economic activity.”

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Trade with China Is Falling

-22%

Associated Press: “China’s trade with the United States is falling as the two sides prepare for negotiations with no signs of progress toward ending a tariff war that threatens global economic growth. Imports of American goods tumbled 22% in August from a year earlier to $10.3 billion, customs data showed Sunday. Exports to the United States, China’s biggest market, sank 16% to $44.4 billion.”

Verbatim

Pelosi Accuses Pence of ‘Lining Trump’s Pockets’

“Vice President Pence promised that their Administration would defend the Constitution and stand by a ‘strict constructionist’ interpretation of the Constitution. Instead the Trump-Pence Administration is ignoring the text itself and selling out the Constitution to line Trump’s pockets.”

— Speaker Nancy Pelosi (D-CA), accusing Vice President Pence of “selling out the Constitution” to financially benefit President Trump following the vice president’s stay at one of Trump’s properties in Ireland, The Hill reports.

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Voters Think the Economy Is Getting Worse

37%

A new Quinnipiac poll finds that since the first time since the 2016 election, more voters say the economy is getting worse than say it’s getting better. Voters still think the economy is good, but of those polled, 37% say the economy is getting worse, compared with 31% who say it’s getting better and 30% who say it’s staying the same.

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Trump Is a Talking Ad for His Properties

70

Washington Post: “As president, Trump has averaged two weekly visits to Trump Organization properties and has mentioned the names of four of those properties — Bedminster, Mar-a-Lago, Turnberry and Doral — at least 70 total times in White House speeches, interviews and tweets.”

Verbatim

Trump’s Stupid, Destructive Ideas Have Staying Power

“There are lots of reasons to worry about how President Trump would handle a recession, should we tip into one. There’s his incompetent economic team. Or the limited fiscal policy tools at his disposal, given that Republicans already spent nearly $2 trillion on tax cuts. Or his efforts to discredit the Federal Reserve just when we’ll need it most. … One underrated concern: Trump’s tendency to double down on stupid and destructive ideas, despite — perhaps because of? — overwhelming evidence of their stupidity and destructiveness.”

Catherine Rampell

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Americans’ Confidence in Economy Falling

65%

A new CNN poll finds 65% of Americans say current economic conditions are good, but that’s down since May, representing the first significant decline in public perception of the economy during Donald Trump’s presidency.

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Trump in Hot Water with Farmers Over Biofuels

31

“President Trump ordered cabinet members on Monday to stem the tide of rising anger in Iowa and other Farm Belt states over his administration’s decision to allow numerous oil refiners to mix less ethanol into their gasoline,” Reuters reports. “About a week ago, the administration granted 31 exemptions from the nation’s biofuel laws to 31 refineries.”

Enumerati

Economy Grew But Seems to Be Slowing

3.1%

“The U.S. economy grew at a healthy 3.1% rate in the first three months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle between the United States and China,” the AP reports.