SPLIT SCREEN: President Biden Puts American Workers First While Trump Sells Out (Again) to Ultra-Wealthy Backers

As Donald Trump cozies up to his billionaire donors tonight and pushes his failed MAGAnomics agenda to rig the economy for the ultra-wealthy, DNC Rapid Response Director Alex Floyd released the following statement:

“Tonight, Donald Trump is once again busy promising his ultra-wealthy friends another round of handouts and giveaways after repeatedly breaking his promises to hardworking Americans the last time he was in office. While President Biden is standing up for American workers and businesses, Trump is doubling down on putting himself and his billionaire friends first after rooting for our economy to crash — all for his own political gain. We’ve seen Trump’s disastrous pay-for-play MAGAnomics agenda fail working families before, and voters aren’t buying it this November.”

President Biden is taking on China and delivering for American workers…

Bloomberg: “Biden to Hike Tariffs on China EVs and Offer Solar Exclusions”

“President Joe Biden will quadruple tariffs on Chinese electric vehicles and sharply increase levies for other key industries this week, unveiling the measures at a White House event framed as a defense of American workers.”

ABC News: “Biden expected to quadruple tariffs on Chinese electric vehicles”

… while Donald Trump pitches his failed MAGAnomics agenda to his crooked, ultra-MAGA billionaire buddies.

Washington Post: “[Trump-appointed Social Security Commissioner Andrew Saul] dawdled while millions of disabled Americans waited for him to turn over files to the Internal Revenue Service to release their stimulus checks — and accused him of an overzealous campaign to make disabled people reestablish their eligibility for benefits.

“Saul … had proposed what they called radical changes to make it harder for older and disabled workers to be found eligible for disability benefits and blocked access to assistance for non-English speakers. He also tried to increase the frequency of medical reviews to semiannually for disabled people receiving benefits.”

Business Insider: “Jared Kushner’s dad Charles, who Trump pardoned, gave $1 million to a Trump super PAC”

Bloomberg: “John Paulson became a billionaire after his hedge fund effectively shorted more than $25 billion of mortgage securities at the dawn of the global financial crisis.”

New York Post: “Cantor Fitzgerald CEO Howard Lutnick backs cryptocurrency Tether despite Hamas links”

CNN: “NFL owner and Trump ambassador to UK [Woody Johnson] sparks watchdog inquiry over allegations of racist and sexist remarks and push to promote Trump business”

New York Times: “Unhappy shoppers are not all [John Catsimatidis] has to worry about. Gristedes has been the target of three class-action suits by employees since 2000, being told to pay more than $7 million in settlements to workers who said they were underpaid, denied overtime or discriminated against by management.”

Trump wants to once again rig the economy for the ultra-wealthy while leaving the middle class behind.

Forbes: “Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018”

CBS News: “Two years after Trump tax cuts, middle-class Americans are falling behind”

The Guardian: “They were billed as a ‘middle-class miracle’ but according to a new book Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.”

Washington Post Analysis: “One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump’s time in office.”

Washington Post Analysis: “The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center.”

Politico: “The nation’s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump’s first term, Congress’ nonpartisan budget scorekeeper projected Tuesday.”

Trump owns the worst jobs record in modern American history.

Fortune: “Trump to leave office with the worst jobs record since Herbert Hoover”

Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”

Bloomberg: “Trump’s Jobs Record Fell Short of Promises Even Before the Virus”

Trump repeatedly broke his promises to workers across the country.

CNN: “Trump told GM workers he could save their plant, but it’s gone for good”

Washington Post: “Trump promised this Wisconsin town a manufacturing boom. It never arrived.”

Fox Business: “Electric truck company touted by Trump as ‘an incredible concept’ files for bankruptcy”

Detroit Free Press: “Trump, tweets couldn’t save U.S. auto jobs in 2017”

MLive: “On the 2016 campaign trail in Warren, Trump pledged ‘you won’t lose one plant’ if he were elected. GM announced last year it would end production at five North American plants.”

New York Times: “After Years of Growth, Automakers Are Cutting U.S. Jobs”

Trump rooted for the economy to crash to help his political standing.

Trump: “And when there’s a crash — I hope it’s going to be during this next 12 months because I don’t want to be Herbert Hoover. The one president I just don’t want to be, Herbert Hoover.”

Daily Beast: “Donald Trump admitted Monday that he wants a severe economic downturn to happen during the next year, because it will help his odds of winning the presidential election.”

REMINDER: Trump was weak on China and created new incentives for companies to ship jobs overseas.

Wall Street Journal: “President Trump’s trade war against China didn’t achieve the central objective of reversing a U.S. decline in manufacturing, economic data show, despite tariffs on hundreds of billions of dollars of Chinese goods to discourage imports.”

Bloomberg: “The Offshoring of U.S. Jobs Increased on Trump’s Watch”

Washington Post: “Trump promised ‘America First’ would keep jobs here. But the tax plan might push them overseas.”

Reuters: “Donald Trump won the U.S. presidency four years ago, in part, by a promise to Midwest factory workers that he would stop companies like Schneider Electric SE from moving jobs out of the country. He didn’t stop them.”

PIIE: “China bought none of the extra $200 billion of US exports in Trump’s trade deal”

Washington Post: “The China deal pales alongside the president’s original ambition. Trump initially insisted that he wanted a comprehensive agreement to address all of the Chinese trade practices identified in a March 2018 report that accused China of stealing American trade secrets and forcing U.S. companies to surrender their advanced technologies before gaining access to China’s market. But as negotiations dragged, [Trump] agreed to accept a more limited deal, deferring haggling over China’s massive government subsidies to subsequent talks.”

New York Times: “The Treasury Department’s removal of [China’s designation as a currency manipulator] provided a major concession to China just days before it is set to sign a trade deal with the United States.”