MeidasTouch host Ben Meiselas reports on Donald Trump losing in court and tanking everything as he looks weaker and more pathetic each day.
The impact of Trump’s policies on the U.S. economy depends on which period you’re looking at and who you ask. Here’s a breakdown of the good, the bad, and the controversial aspects of his economic policies:
📈 The Good (Supporters’ View)
✅ Strong Pre-Pandemic Economy (2017-2019)
- GDP growth averaged 2.5% (strong, but not historic).
- Stock market boomed – S&P 500 and Dow Jones hit record highs.
- Unemployment hit a 50-year low at 3.5%.
- Tax cuts (2017 Tax Cuts and Jobs Act) lowered corporate tax rates, benefiting businesses and investors.
✅ Deregulation & Business Growth
- Cut federal regulations, which businesses argued made it easier to expand.
- Boosted domestic energy production (oil, gas, and coal).
✅ Trade Renegotiations (NAFTA → USMCA)
- Replaced NAFTA with USMCA, which supporters say helped U.S. manufacturing.
📉 The Bad (Critics’ View)
🚨 Increased National Debt
- Trump added $7.8 trillion to the national debt.
- Massive tax cuts reduced revenue while spending remained high.
🚨 Trade War with China Hurt U.S. Farmers & Businesses
- Tariffs on China led to higher costs for U.S. consumers.
- Farmers needed billions in subsidies due to lost exports.
🚨 COVID-19 & Economic Crash (2020)
- Pandemic erased all job gains from Trump’s first 3 years.
- Unemployment spiked to 14.7% in April 2020.
- Critics say Trump downplayed COVID instead of preparing an economic recovery plan.
🚨 Manufacturing Jobs Didn’t Boom
- Despite promises, factory jobs didn’t significantly grow.
- The U.S. trade deficit actually increased under Trump.
Are We Worse Off Now? (2024 Perspective)
🔹 Biden inherited an economy recovering from COVID.
🔹 Inflation spiked in 2021-2022, partly due to COVID stimulus & global supply chain issues.
🔹 Interest rates rose under the Fed to fight inflation, slowing down growth.
If you support Trump, you might say:
🔸 “The economy was stronger before COVID, and Biden’s policies made inflation worse.”
If you oppose Trump, you might say:
🔹 “Trump’s tax cuts and trade war hurt the economy, and he mismanaged the COVID crisis.”
🔮 Bottom Line: Did Trump Kill the Economy?
- Pre-pandemic: The economy was strong under Trump but with growing debt.
- COVID-era: The economy collapsed in 2020 (not entirely his fault, but response was debated).
- Post-Trump: Biden’s era started with inflation problems but also low unemployment.
Would you like a comparison of Trump vs. Biden on key economic indicators? 📊
Would Trump’s Economy Lead to a Recession?
If Trump wins in 2024, his policies could either prevent or trigger a recession depending on how they’re implemented.
✅ Trump’s Policies That Could Boost the Economy
- Tax Cuts 2.0 – Trump has promised to extend or expand tax cuts, which could stimulate business investment.
- Deregulation – Reducing regulations might help businesses grow.
- Energy Expansion – More oil drilling & energy production could lower energy prices.
🚨 Trump’s Policies That Could Lead to a Recession
- Tariffs & Trade Wars – If Trump restarts a trade war with China, higher tariffs could raise prices and slow growth.
- More Debt & Inflation Risk – Extending tax cuts and increasing spending could add to the national debt and put pressure on inflation.
- Federal Reserve vs. Trump – Trump has criticized the Fed and might push for lower interest rates, which could create another inflation spike.
📊 What’s the Verdict?
🔹 If Trump focuses on pro-business policies (tax cuts, deregulation), a recession may be avoided.
🔹 If he restarts a trade war or mishandles inflation, it could push the economy into a downturn.
🔹 The biggest wild card is the Federal Reserve—if Trump pressures them to lower rates too soon, inflation could return.
Would you like a Trump vs. Biden economic comparison for 2024-2025? 📉📈