President Donald Trump got a damning report card on his cost-of-living policy on Thursday, as MS NOW’s Chris Hayes walked through all the ways he has blundered his way into making inflation worse for everyday Americans.
Hayes opened with a blistering summary of Trump’s economic approach.
“Since day one, the Trump administration has acted as if they had hired some crack team of consultants to bring in to study the problem and find all the ways that the President of the United States could personally jack up prices for people, like what’s in the toolkit, systematically doing just about everything you could do as president to personally make things more expensive,” said Hayes.
Hayes then laid out his indictment in three parts — tariffs, the Iran war and Federal Reserve bullying — before tallying the real-world damage hitting American wallets.
“Number one, unilaterally, by fiat, attempting to impose hundreds of billions of dollars in arbitrary tariffs on thousands of imported goods from dozens and dozens of countries,” said Hayes. “Number two, unilaterally, out of nowhere, starting a war of choice with Iran that has caused what could prove to be the worst oil shock in history. Number three, to cap it all off, bullying the Federal Reserve, the folks who are in charge of trying to keep a hand on inflation, bullying them so severely, you even threaten prosecution through the Justice Department, all to try to get them to lower rates prematurely, which, if successful, would likely uncork more inflation.”
“So here we are. Did that promise ring true?” Hayes continued. “The price of food is up nearly 20 percent. Gas is almost $4 a gallon — higher in some states, it’s $5 and $6 out west, $7 diesel. All because the war the president has started has led Iran to shut down the Strait of Hormuz and 20 percent of global oil supply. The cost of fertilizer is also up because of the war, hitting farmers who are already dealing with the loss of major markets thanks to Trump’s insane tariff policy. Petrochemicals, things you haven’t even heard of, packing, paper bags, plastic bags, all going up. Mortgage rates just jumped again. The average rate on a 30-year mortgage is just over 6 percent. That is the fourth increase just since the war began. Car payments are up, making it harder for people to buy or keep cars.”
Meanwhile, Hayes continued, Treasury Secretary Scott Bessent “is out today claiming, quote, ‘Under President Trump’s leadership, we’re on a path towards unprecedented economic growth and lasting dollar dominance.’ And Trump is now signing $100 bills to prove it, literally putting his name on money, as we learned today, is going to put his signature on money.”
Unfortunately for the administration, though, said Hayes, “People are not buying it. It’s really like the one lie he can’t get away with. Go figure.”
“A recent Reuters poll found that over 60 percent of Americans disapprove of how Trump is handling it,” said Hayes. “Look at that. Look at that number. 62 disapprove, 29 approve. That number you see right there, that is worse than even Joe Biden’s lowest mark in that poll. And keep in mind, inflation was like 9 percent under Joe Biden. That number you see there, Donald Trump riffing about the ballroom and the pens and going to Graceland, take Elvis in a fight, that is a large part of why Republicans are losing special election after special election?”
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