All posts tagged "economy"

JD Vance's flopped joke sparks instant mockery: 'Charm of a rattlesnake'

Vice President JD Vance laughed about President Donald Trump's particular taste over which socks and jackets his cabinet members wear — prompting the internet to mock the attempted joke.

Vance was speaking to a crowd at a manufacturing facility in Kansas City, Missouri, to address the rising cost of living ahead of midterm elections, when he tried to get a few laughs about Trump, who has reportedly gifted $145 Florsheim men's dress shoes to his male cabinet members with the expectation that they wear them in his presence, regardless of whether they fit or not.

"The president, he will note if you're wearing anything other than a solid navy blue jacket. I learned this the hard way — he likes a more conservative dress," Vance said, describing how he wore shamrock socks to welcome the Irish prime minister to the annual St. Patrick's Day event.

"And we're sitting down in front of God and everybody and probably 100 TV cameras on a live press conference and the president starts his remarks and then he looks over and says, 'What is going on with those socks?'" Vance said.

People didn't hold back in their responses on social media.

"He didn’t learn from the ridiculous Home Alone joke that flopped in a crowd full of boomers in Maine," user Mason, a frequent political commentator and Iraq war veteran, wrote on X.

"He has the charm of a rattlesnake, and the same sense of humor," online commentator and retired IT tech Paul Healey wrote on X.

"People behind him are giving serious hostage vibes," author Paul Regensburger wrote on Bluesky.

"I got news for you J.D. The socks and suit aren't the problem," Lee Phillips, former NASA engineer and retired tech executive, wrote on Bluesky.

JD Vance says Trump criticized his socks: "The president -- he will note if you're wearing anything other than a solid navy blue jacket. I learned this the hard way. He likes more conservative dress." pic.twitter.com/6IH5ViqTj0
— Aaron Rupar (@atrupar) May 18, 2026

White House in a panic that gas is about to pass $5: report

Trump administration officials once called high gas prices the Biden administration's "Achilles' heel" — but now it appears that could have come back to haunt them, according to a new Reuters report on Thursday.

The political and economic backlash over the Iran war has left the White House struggling to address the skyrocketing price of oil as the prospect of a quick end to the military operation looks increasingly unlikely, three Trump administration insiders familiar with the conversations told Reuters.

"U.S. President Donald Trump this week backed suspending the federal gas tax, a step that would knock 18 cents a gallon off motor fuel prices currently averaging more than $4.50 a gallon nationwide," Reuters reported. "Once viewed by some White House aides as unnecessary, the idea is gaining urgency as officials run low on options to show they are tackling rising costs, said the people, who spoke on the condition of anonymity to discuss sensitive internal deliberations."

As prices have climbed, the president needs "a visible consumer relief move now," one of the White House insiders said.

"Historically, $4-per-gallon gasoline has been a level that triggers public backlash and economic anxiety," Reuters reported.

AAA data has revealed that seven states have already passed the $5 a gallon mark.

And as consumer sentiment drops to a record low and consumer inflation hit 3.8 percent this April — the highest it has been in nearly three years — more Americans are experiencing economic strain as gas prices climb and U.S. households are already paying the price.

With midterm elections in November, Republicans have started pressuring Trump and his administration as they worry that affordability concerns among voters could ultimately push Republicans out of majority in the House of Representatives — and potentially the Senate.

"They feel like that’s their largest vulnerability right now: that specific cost, gas, not overall economic conditions," an unnamed White House political adviser told Reuters.

"The toughest thing, too, is that we made gas prices the Achilles' heel for (former President Joe) Biden and now it's our own."

Taylor Rogers, White House spokesperson, said that the president and his energy team had expected the Iran war would create repercussions for global energy markets and had anticipated they needed a plan to address it.

"The ability to supply both the United States and our allies with reliable, affordable, and secure energy has long been a key strategic objective of President Trump, and his successful efforts to unleash American oil and gas has achieved this objective," Rogers told Reuters.

Trump 'startles' industrialists with push for a stake in big American businesses: report

Trump's push to have his administration take a bigger stake in major American businesses is beginning to scare industrialists and executives, according to a new report.

"Some executives are so worried Trump will ask for a stake in their company that they have prepared for Oval Office meetings by rehearsing what they would say to fend off the president's advances," the Wall Street Journal reported on Wednesday based on information from the lobbyists involved in those preparations.

According to the WSJ, Trump's reach for large stakes in the biggest American businesses "startles many large U.S. companies that fear an expansion of government power in their industries."

The WSJ pointed towards recent "progressive-style" efforts by the White House to "cap credit-card rates to assertive deals grabbing government shares in private companies." Top Trump aides also brought up the idea of taking a stake in a merger between United and American Airlines that ultimately fell through, according to the WSJ.

The Trump administration also asked for a "significant stake" in the now-defunct Spirit Airlines before it went out of business, the WSJ highlighted.

"When the company offered 80 percent in exchange for the government bailout, Trump suggested 90 percent," the WSJ reported.

Meanwhile, Trump is moving forward with plans to acquire a stake in "at least 10 companies, including a 10 percent equity stake in Intel," the U.S. tech maker, "and a 'golden share' of U.S. Steel, which grants the government power to influence company decisions."

The Trump administration has already secured "significant shares of critical minerals" that are "crucial for industries and national defence contractors," per the WSJ.

Lobbyists who talked to the WSJ said that they're telling their clients who want to meet with Trump or Commerce Secretary Howard Lutnick that they should be prepared for questions like "Would they be willing to give the administration something?"

"We're seeing the government get more involved in different aspects of the economy, which is a pivot off the more traditional Republican approach of the last century," Kelly Ann Shaw, Trump's former deputy assistant for international economic affairs, told the WSJ.

'Kill shot' polling figure shows just how bad Trump economy is: analysis

A polling figure has shed light on just how bad President Donald Trump's economic plan for the United States is.

Trump's economic policies have triggered unprecedented public dissatisfaction, with consumer sentiment reaching its lowest point in 74 years. The University of Michigan's Consumer Sentiment Index fell to 47.6 in preliminary April 2026, a 10.7 percent drop from March, marking the worst reading in the history of the Consumer Sentiment poll.

Tariffs on imported goods have driven up prices on consumer staples, including groceries, clothing and household items, with no relief in sight.

Trump's Iran war has exacerbated energy costs and disrupted global supply chains. Oil price volatility threatens to spike gas prices further, compounding household budget pressures.

The New Republic's Greg Sargent has since highlighted a brutal polling update for Trump and the economy.

"Donald Trump pays close attention to Fox News polling, so surely he’ll see the latest one from Fox, and it’s a real doozy. His numbers on the economy are indescribably awful," Sargent wrote.

"And the poll also shows that Democrats have the advantage over Republicans on the economy for the first time in many years—a real milestone.

But there was more to the Fox poll, he explained.

"It finds that Democrats are favored over Republicans on the economy for the first time since 2010," Sargent wrote. "Fifty-two percent pick Democrats and 48 percent pick Republicans. And on prices, again, it’s even worse—54 percent favor Democrats versus 46 percent who favor Republicans.

"Democrats are taking the lead or gaining the advantage on the economy now. It’s not just disapproval of Trump and people also hate Democrats. It’s voters now starting to look to Democrats as the better party on this issue."

Strategists “in and around the White House” have grown increasingly panicked over rising energy costs and their impact on voters, Politico reported earlier this week.

Trump roasted for again appearing to doze off on the job: 'He's unwell'

President Donald Trump was caught sleeping during an Oval Office press conference on Thursday — and the internet didn't hold back.

The president was speaking with a group of cabinet members about several topics, including health care, prescription drug prices, and the economy, when people started to notice he was nodding off.

Social media users picked up on the moment:

"They don’t call him Don Snoreleone for no reason," user Mason, an Iraq veteran and political commentator, wrote on X.

"He’s currently falling asleep in the middle of a press event. Dozing off with his mouth dropping. He’s unwell," Trill Clinton, former deputy director of Intergovernmental Affairs at HUD under the Obama Administration, wrote on X.

"Just think, this geriatric buffoon holds the nuclear codes," Denison Barb, political commentator, wrote on X.

" Trump is fighting total war against wokeness as his eyes close and his mouth droops," journalist Aaron Rupar wrote on X. He later added, "Trump is about to hit REM on camera during an Oval Office event. It's just incredible."

"Stamina they say," radio and television personality Henry Lake wrote on X.

Stamina they say 😂 https://t.co/0Buqx1o8bj
— Henry Lake (@lakeshow73) April 23, 2026

Trump dealt serious blow as citizens 'question his mental soundness' in Fox News poll

A new Fox News poll shows that voters have started turning on President Donald Trump and how he's handled the economy, according to a report published by The Daily Beast on Thursday.

The poll was conducted among 1,001 registered voters between April 17-20 and revealed Trump's leadership around several major issues has come under fire "as more Americans question his mental soundness."

It also showed that for the first time since 2010, Americans believe Democrats would be better than Republicans at improving the economy — 52 percent to 48 percent. The results unveiled a significant change on how voters view Trump and his "core political strengths," The Beast reported.

With midterms approaching this fall, the economy and affordability remain top concerns among voters while Republicans aim to keep their majority in Congress.

Recent polls, however, have started showing that voters want Democrats to control Congress — not the GOP.

The Fox News poll reflected how voters view these issues and only 34 percent of voters said they approve of how Trump has navigated the economy and only 28 percent approve of how he's handled inflation.

"But the economy isn’t the only issue where Trump is underwater. The poll also shows Trump underwater on nearly every major issue," The Beast reported.

Voters disapprove of his handling of immigration with 46 percent approving and 54 percent disapproving; his approach to China had 42 percent approving and 57 percent disapproving; his foreign policy had 40 percent approving and 60 percent disapproving and Iran has 37 percent approving and 63 percent disapproving. His actions on government spending had 33 percent approving and 67 percent disapproving.

The one area where Trump has maintained a higher approval rating was border security — 53 percent approve and 47 percent disapprove.

"Beyond policy, the data highlights deeper concerns about Trump’s leadership," according to The Beast. "More than 6 in 10 Americans say he does not care about people like them. Just 37 percent believe he does—a drop from 44 percent in 2024. Meanwhile, 55 percent say Trump lacks the mental soundness to serve, up 7 points since late 2024 and nearing a previous high of 56 percent in 2023."

Trump handed 'historic indictment' as economy in worst shape since Eisenhower: analyst

President Donald Trump has been handed a grim reality check with a poll suggesting his administration's economy is the worst in 74 years.

Political analyst Pat Ford, during an appearance on the David Pakman Show, highlighted how the economy had sunk to its lowest point in decades under Trump's watch. A 74-year low puts the Trump economy on the same footing as Dwight D. Eisenhower's economic forecast in the early 1950s.

Ford said, "American consumers have delivered their verdict. They feel this economy under Trump is the worst in 74 years. The results are a historic indictment of the current administration."

The University of Michigan’s Consumer Sentiment Index fell to 47.6 in preliminary April 2026, a drop of 10.7% from March 2026. It is also the lowest reading in the history of the Consumer Sentiment poll. The prior record low came under Joe Biden's administration in 2022, which Ford explained was during a time when the United States had only just begun to recover from the Coronavirus pandemic.

Ford added, "There was also the start of the Russia-Ukraine war. This is immeasurably tied to Trump's decision to attack Iran because last month Trump was at 53.3, several points higher, now it's dropped 10.7%."

The results, Ford argues, put the US economy in a "more desperate light than even the 2008 financial crisis," but noted it does not mean the economy is "inherently worse" than 2008.

"It does mean that consumers feel the most dejected, that they feel the least confident this time since 1952. I think it is important to point out, especially because this has to do with how the public is feeling and we're only seven or so months away from the 2026 midterms, and people are going to be voting with their wallets.

"They're going to be voting based on how the economy is doing. And if Americans are saying that the economy is worse at this point than it has been at any point over the last 74 years, that's not going to be good for Trump, and that's not going to be good for Republicans. So you better believe that this economic sentiment is going to show up in the midterm elections."

Trump's tax talk shows 'how little he understands or cares' about voters: analysis

President Donald Trump's recent appearance in Las Vegas is an attempt to gaslight the public into believing the economic shortcomings are their fault, an analyst has claimed.

Trump had been roundly criticized for a DoorDash PR stunt. On Monday, President Donald Trump was greeted at the White House by Sharon Simmons, a 58-year-old DoorDash delivery driver who handed off two bags of McDonald’s food to the president.

During the encounter, Simmons championed the president’s no-tax-on-tips provision included in the One Big Beautiful Bill Act, which is set to expire at the end of 2028.

No evidence exists that Simmons was paid for carrying out the delivery to the White House. Simmons refuted the claim on Fox News Tuesday, and Julian Crowley, the head of public affairs for the online food delivery service DoorDash, defended her by arguing that she genuinely “supports keeping more of what she earns in tips."

Heather Delaney Reese wrote in her Substack, "He was there to speak at a Tax Day roundtable in Las Vegas. A 'celebration' of the 'no tax on tips' policy he signed into law last year. And it ended up being one of the most revealing insights into how he views working Americans and how little he actually understands or cares about their lives.

"Not because of any one outrageous moment, but because of how clearly it showed the gap between the man on that stage and the people sitting in that room. And that’s where the real damage happens.

"Because when the president of the United States declares on camera that every single American, at every income level is doing better, and you’re sitting at your kitchen table that night trying to figure out which bill gets paid this month and which one has to wait, you don’t think 'he’s lying.' You think, 'What’s wrong with me?'

"You think everyone else must have figured it out, and you’re the one who can’t make it work. Maybe you’re not budgeting well enough. Maybe you should be working harder. Maybe you should pick up a second job, a third shift, another DoorDash route. The shame settles in quietly.

"And it keeps you from saying anything, because if everyone else is doing fine, admitting that you’re not feels like a personal failure."

Nobel-winning expert drops major warning about metric that 'has come to a screeching halt'

The economy could be set for a harsh reality check because of one issue highlighted by a Nobel Prize winner.

Paul Krugman suggests that while the unemployment figures under Donald Trump's administration remained relatively typical, the anti-immigration policies of his team will cause a rupture further down the line. The economist, writing in his Substack, suggested the policy of barring immigration to open up jobs for native-born Americans had failed.

He wrote, "One way to think about what is happening is that we’ve stopped gaining jobs, but we’ve also stopped adding workers, so unemployment hasn’t risen a lot. But one can also turn this around and say that as a result of anti-immigrant policies we’ve stopped adding workers, but we have also stopped gaining jobs."

"This is bad news for anyone who believed the predictions of immigration opponents. They claimed that cracking down on immigration would open up more jobs for native-born Americans, but this hasn’t happened. In fact, the unemployment rate for native-born workers has gone up under Trump, although not drastically."

"There’s also another way in which the plunge in breakeven employment growth is bad news: It makes America’s already problematic fiscal outlook considerably worse, because future tax receipts depend on future economic growth — and economic growth will be much slower with zero growth in the labor force than it would have been with growing labor supply."

Krugman went on to suggest the aims of the administration were strained further by a poor economy, which Trump's team has turned a blind eye to.

"One point in particular that’s relevant given where we are politically: Donald Trump, Pete Hegseth and others envision a world of perpetual U.S. military dominance," he wrote. "But how can we maintain that dominance if, as the plunge in breakeven job growth suggests, we’ve entered an era of basically zero growth in our workforce?

"So when it comes to jobs, the bad news is that job growth has come to a screeching halt. The good news is that this hasn’t caused surging unemployment."

"But the bad news within the good news is that the disconnect between job growth and unemployment reflects a collapse in the inflow of immigrants, which is really bad for economic growth and America’s position in the world."

'My taxes have gone up': Americans say Trump 'tax cuts' were 'eaten up' by admin failures

Donald Trump's sweeping tax cuts from his first term had little positive effect on the working-class, with a political analyst highlighting people may be worse off than before.

The Treasury claims an average tax cut of $3,750 per filer, and notes a higher wage per American worker of $7,200. Department of the Treasury Secretary Scott Bessent said, "We want Americans to see exactly how President Trump's policies will strengthen small businesses, allow workers to keep more of their hard-earned money and spur economic growth."

But analysis from NBC News reporter Shannon Pettypiece found that tax cuts were actually favorable for the higher tax brackets, rather than those on lower incomes.

"For those who are getting a larger tax refund, some workers said the gains were offset by higher costs elsewhere, like gas, groceries and health care," Pettypiece wrote. "Others are at risk of losing food assistance and health insurance benefits from new restrictions Trump and Congress included in the tax law to offset some of the lost federal revenue from the tax cuts."

Comments from members of the public affected by the tax cuts were also shared by the outlet. Jeff from Pennsylvania said, "My taxes have gone up and up. The only ones getting tax breaks are the millionaires."

Jeremy from Missouri added, "Not much is going well, we are able to pay our bills, but usually just the minimum payments. Tax season does help out with big purchases, but those purchases are limited now."

Others felt the tax break effect had not been felt at all as their savings were taken up by the cost of living crisis and impact of the war with Iran.

"The Trump tax breaks helped us save on federal tax for 2025," Jane from Minnesota said, "but those savings are now being eaten up by increased gas and grocery prices, property taxes, and insurance."