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62%
A new PRRI poll finds 62% of Americans believe the U.S. is headed in the wrong direction, fueled by dissatisfaction with President Trump’s impact on the economy, immigration, race relations and the nation’s global standing. Even among Republicans, a significant share — nearly 30% — gave Trump low marks on the economy and how the government is functioning. A new AP-NORC poll found 69% of Americans thought the nation was headed in the wrong direction and 30% in the right direction.
22,000
The U.S. added 22,000 jobs in August, according to data from the U.S. Bureau of Labor Statistics, reports ABC News. That figure showed a sharp decrease from 79,000 jobs added in the previous month. The unemployment rate ticked up to 4.3%, but it remained at a historically low level.
$37 trillion
“The U.S. government’s gross national debt has surpassed $37 trillion, a record that highlights the accelerating debt on America’s balance sheet and increased cost pressures on taxpayers,” the AP reports.
$291 billion
“The U.S. government’s budget deficit grew nearly 20% in July to $291 billion despite a $21 billion jump in customs duty collections from President Donald Trump’s tariffs, with outlays growing faster than receipts,” Reuters reports.
“To me, what’s ironic is, is that the Trump administration is making the same mistake that the Biden administration made, which was to basically, remember we had Bidenomics is working, well, now we have the Golden Age of American Prosperity is returned, and Americans are not feeling that. Better to say we’re working hard to put America on the right road, rather than declaring premature victory. … I think that’s a big mistake for the White House and is likely to come back and bite them in the midterm election.”
Karl Rove told Fox News that President Trump that he’s “making the same mistake” Joe Biden did and is likely to pay a political price for it.”
$2,400
The Yale Budget Lab says the new tariff rates President Trump announced late Thursday are the highest in nearly a century and will cost the average family about $2,400 this year, Axios reports. After blending the various rates assigned to different countries, the average tariff now stands at 18.3%, the highest since 1934.
50%
A new Times/YouGov poll finds few Americans say they are better off under President Trump and most think the economy is getting worse. “Trump pledged to bring inflation down immediately and ‘make America wealthy again’ but only 13 percent of survey respondents said they were feeling any financial benefit. Some 50 percent thought the economy was worsening and only 24 percent that it was improving.”
2.9%
OECD warned of a global economic slowdown. In its latest forecast, the Organisation for Economic Co-operation and Development revised the global GDP growth rate for this year down from 3.1% in previous estimates to 2.9% as a result of the effects of the Trump administration’s trade policies. The organization also cut the US’ growth outlook from 2.2% as of March to 1.6%.
“Well, tariffs are taxes, and when you put a tax on a business, it’s always passed through as a cost. So, there will be higher prices. The only trade that means anything is the individual who buys something. That’s the only real trade. And that by very definition, if it’s voluntary, is mutually beneficial, or the trade doesn’t occur.”
— Sen. Rand Paul (R-KY), quoted by Politico.
$1 million
A typical starter home now costs $1 million or more in more than 200 U.S. cities, according to a new report from Zillow. Five years ago, there were only 85 cities in 10 states where starter homes—defined as being in the lowest third in terms of home values—exceeded $1 million. Now the number is up to 233 cities in 25 states.
