Tag: Trumponomics

Trumponomics Watch: Trump’s Policies Already Clouding Mortgage Rates

Pensito Editors


“Donald Trump’s election win is clouding the outlook for mortgage rates even before he gets back to the White House,” the Associated Press reports. “The president-elect campaigned on a promise to make homeownership more affordable by lowering mortgage rates through policies aimed at knocking out inflation. But his proposed economic agenda could potentially set the stage for mortgage rates to move higher.”

Most Say They Are Better Off than Three Years Ago

Buck Banks

61%

Gallup: “Sixty-one percent of Americans say they are better off than they were three years ago, a higher percentage than in prior election years when an incumbent president was running. In the 1992, 1996 and 2004 election cycles, exactly half said they were better off. In three separate measures during the 2012 election cycle, an average of 45% said they were better off.”

National Debt to Rise to 98% of GDP by 2030

Buck Banks

98%

“Sustained federal budget deficits and debt will hit the highest levels since World War II over the next decade, according to a Congressional Budget Office report,” the Wall Street Journal reports. “The government will spend $1 trillion more than it collects in 2020 and deficits will exceed that amount every year for the foreseeable future. As a share of gross domestic product, the deficit will be at least 4.3% every year through 2030. That would be the longest stretch of budget deficits exceeding 4% of GDP over the past century. … Debt held by the public will be 81% of GDP this year and is projected to reach 98% by 2030.”

Unemployment Rising in Swing States

Buck Banks

+1,000

Washington Post: “In more than 1,000 counties, or about one in three, the unemployment rate is higher than it was a year ago. That includes all 72 counties in Wisconsin and all 10 in New Hampshire, as well as most in Michigan, Minnesota and North Carolina. The numbers can be volatile from month to month, but this trend remains even if you look at entire quarters or years.”

Budget Deficit Soaring

Buck Banks

$1 trillion

“The U.S. government’s budget deficit ballooned to nearly $1 trillion in 2019, a $205 billion increase from a year earlier, as America’s fiscal imbalance widened for a fourth consecutive year despite a sustained run of economic growth,” the Washington Post reports. “The country’s worsening fiscal picture runs in sharp contrast to President Trump’s campaign promise to eliminate the federal debt within eight years. Since taking office, Trump has endorsed big spending increases and steered most Republicans to abandon the deficit obsession they held during the Obama administration.”