Tag: U.S. economy

Trumponomics Already Taking Toll on U.S. Economy

Buck Banks

From the New York Times:

“The United States economy is starting to show signs of strain as President Trump’s abrupt moves to shrink federal spending, lay off government workers and impose tariffs on America’s largest trading partners rattle businesses and reverberate across states and cities.”

“Funding freezes and firings of federal workers combined with the prospect of costly trade wars are souring consumer sentiment, raising inflation expectations and stalling business investment plans, according to recent economic surveys.”

“Local economies are also bracing for a sudden withdrawal of fiscal support, forcing officials to contemplate tax increases or municipal bond offerings to stabilize their budgets. While Mr. Trump has acknowledged that his policies could bring some initial pain, the early warning signs suggest that his blunt approach could come with more ominous risks to the economy.”

Mass Deportations Threaten U.S. Economy

Pensito Editors


From CNBC:

“A labor market boosted by immigration after the Covid pandemic faces a threat from President-elect Donald Trump’s plan for mass deportation of undocumented immigrants.”

“Foreign-born workers have been taking open positions in sectors from construction and agriculture to technology and health care, fields where hiring companies have struggled to find domestic labor. Immigrant workers made up 18.6% of the workforce last year, a new record, according to Bureau of Labor Statistics data.”

“The timing and scope of Trump’s plan remains to be seen, but companies and economists are trying to figure out how much the deportations could hurt the U.S. economy.”