{"id":1050596,"date":"2025-01-06T14:03:31","date_gmt":"2025-01-06T19:03:31","guid":{"rendered":"https:\/\/democrats.org\/?p=1050596"},"modified":"2025-01-06T14:03:31","modified_gmt":"2025-01-06T19:03:31","slug":"donald-trumps-reckless-agenda-will-reignite-inflation-and-dampen-economic-growth-under-biden-harris-administration","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/donald-trumps-reckless-agenda-will-reignite-inflation-and-dampen-economic-growth-under-biden-harris-administration\/","title":{"rendered":"Donald Trump\u2019s Reckless Agenda Will \u201cReignite Inflation and Dampen Economic Growth\u201d Under Biden-Harris Administration"},"content":{"rendered":"\n
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Donald Trump is inheriting a growing economy under the Biden-Harris administration that has created over 16 million jobs, overseen the lowest average unemployment rate of any administration in 50 years, and lowered costs of basic essentials for working families like health care and prescription drugs. But Trump is threatening to risk it all, with economists warning that his failed MAGAnomics agenda will rig the economy for the ultra-rich and big corporations, \u201creignite inflation,\u201d and raise costs for working families. <\/p>\n\n\n\n

Here\u2019s a look at the latest coverage of Donald Trump\u2019s out-of-touch economic agenda that will reverse progress made under the Biden-Harris administration:<\/em><\/p>\n\n\n\n

New York Times<\/a>: \u201c[B]y many traditional metrics, the America that Mr. Trump will inherit from President Biden when he takes the oath for a second time, two weeks from Monday, is actually in better shape than that bequeathed to any newly elected president since George W. Bush came into office in 2001.<\/strong> …<\/p>\n\n\n\n

\u201cJobs are up, wages are rising and the economy is growing <\/strong>as fast as it did during Mr. Trump\u2019s presidency. Unemployment is as low<\/strong> as it was just before the Covid-19 pandemic and near its historic best. Domestic energy production is higher than it has ever been.<\/strong>  <\/p>\n\n\n\n

\u201cThe manufacturing sector has more jobs than under any president since Mr. Bush. …<\/p>\n\n\n\n

\u201cMr. Trump instead will have more latitude to pursue favored policies like mass deportation of undocumented immigrants or tariffs on foreign imported goods. And if past is prologue, he may eventually begin extolling the state of the economy to claim successes for his policies. \u2026<\/p>\n\n\n\n

\u201cOn the contrary, Mr. Trump faces the risk that the economy goes in the other direction. Some specialists have warned that a tariff-driven trade war with major economic partners could, for instance, reignite inflation.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cBond traders are entering the new year with fresh worries about inflation and the presidency of Donald Trump. \u2026<\/strong><\/p>\n\n\n\n

\u201cThere\u2019s $119 billion of government debt issuance coming this week, and growing concern that Republicans will drive up spending and widen the budget deficit. Trump has urged Congress to move rapidly on a bill to extend the 2017 tax cuts.\u201d<\/strong><\/p>\n\n\n\n

USA Today<\/a>: \u201cThe U.S. economy and job market are expected to cool in 2025 but still turn in another year of solid growth as inflation eases further,<\/strong> forecasters say.<\/p>\n\n\n\n

\u201cBut as a result of President-elect Donald Trump\u2019s dueling policy agendas, the outlook is leavened with an unusual dose of uncertainty.<\/strong><\/p>\n\n\n\n

\u201cTrump\u2019s plans to impose massive tariffs and deport millions of immigrants who lack permanent legal status are likely to reignite inflation and dampen economic growth, <\/strong>according to forecasters.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump is inheriting a growing economy under the Biden-Harris administration that has created over 16 million jobs, overseen the lowest average unemployment rate of any administration in 50 years, and lowered costs of basic essentials for working families like health care and prescription drugs. But Trump is threatening to risk it all, with economists […]<\/p>\n","protected":false},"author":293,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1050596","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nDonald Trump\u2019s Reckless Agenda Will \u201cReignite Inflation and Dampen Economic Growth\u201d Under Biden-Harris Administration - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/donald-trumps-reckless-agenda-will-reignite-inflation-and-dampen-economic-growth-under-biden-harris-administration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-06T19:03:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2024\/08\/image.png?w=1024\" \/>\n<meta name=\"author\" content=\"Shelby Reese\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shelby Reese\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/donald-trumps-reckless-agenda-will-reignite-inflation-and-dampen-economic-growth-under-biden-harris-administration\/\",\"url\":\"https:\/\/democrats.org\/news\/donald-trumps-reckless-agenda-will-reignite-inflation-and-dampen-economic-growth-under-biden-harris-administration\/\",\"name\":\"Donald Trump\u2019s Reckless Agenda Will \u201cReignite Inflation and Dampen Economic Growth\u201d Under Biden-Harris Administration - 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