Donald Trump is driving the economy into the ground, raising prices, and laying the groundwork for a recession. Yet, Trump and his billionaire Cabinet are saying a recession would be “worth it” so they can pay for another tax handout for the ultra-wealthy while unemployment rises, consumer sentiment tumbles, and the stock market plunges. Once again, Trump is proving he doesn’t care about working families — just his billionaire friends.   

New York Times: “Trump Says a Recession Might Be Worth the Cost. Economists Disagree.”

“Howard Lutnick, the commerce secretary, has said Mr. Trump’s policies are ‘worth it’ even if they cause a recession. Scott Bessent, the Treasury secretary, has said the economy may need a ‘detox period’ after becoming dependent on government spending. And Mr. Trump has said there will be a ‘period of transition’ as his policies take effect. … 

“[I]nflation has remained stubborn, and while Mr. Trump has been in office less than two months, economists warn that his tariffs are likely to make it worse. Measures of consumer and business confidence have plummeted and stock prices have tumbled, attributable in large part to Mr. Trump’s policies …

“The short-term pain created by the administration’s policies, in other words, could fall hardest on low-income Americans — many of whom voted for Mr. Trump in hopes of improving their economic situation.” 

Financial Times: “Donald Trump’s policies set to cool growth and lift inflation, economists say”

“Businesses have reported declines in new orders, while consumer sentiment has slumped. … Canada and China have also already retaliated with their own tariffs against the US, while the EU has threatened to do so.

“Economists also expect Trump’s policies to fuel higher inflation, pushing the Fed further away from its 2 per cent target.” 

The Telegraph: “Trump has pummelled America to the edge of recession. It could destroy his dreams” 

“Mark Zandi, the chief economist at Moody’s Analytics, part of one of the biggest US credit agencies, says the threat of recession in the US has more than doubled from 15pc at the start of the year to 35pc today. Analysts at JP Morgan put the risk at 40pc.

“The Federal Reserve Bank of Atlanta said last week that the US economy was on track to contract sharply in the first three months of the year. 

“Goldman Sachs, meanwhile, has slashed its growth forecast for this year from 2.4pc to 1.7pc following Trump’s barrage of tariffs.

“Perkins says the chances of a recession are now greater than they have been at any point in the last three years.

“Even Republican lawmakers and Tesla, run by Trump’s closest ally Elon Musk, have been sounding the alarm about the economic toll of Trump’s plans. …

“The economy was the number one most important issue for American voters at the 2024 election, according to Gallup. It helped Trump win the election, but now it is hammering his approval ratings.”