{"id":1051742,"date":"2025-02-27T13:53:59","date_gmt":"2025-02-27T18:53:59","guid":{"rendered":"https:\/\/democrats.org\/?p=1051742"},"modified":"2025-02-27T13:54:00","modified_gmt":"2025-02-27T18:54:00","slug":"a-serious-trump-recession-economists-warn-trumps-federal-funding-freezes-and-100-billion-national-tax-are-threatening-the-economy","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/a-serious-trump-recession-economists-warn-trumps-federal-funding-freezes-and-100-billion-national-tax-are-threatening-the-economy\/","title":{"rendered":"\u201cA Serious Trump Recession\u201d: Economists Warn Trump\u2019s Federal Funding Freezes and $100 Billion National Tax Are Threatening the Economy"},"content":{"rendered":"\n
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Donald Trump is steering the American economy into a \u201cdeep recession\u201d<\/a> that will skyrocket inflation and stifle business growth \u2014 and economists are sounding the alarm with economic policy uncertainty<\/a> at higher levels than any time during the Great Recession. After admitting that his $100 billion national tax<\/a> would cause \u201cpain\u201d<\/a> for working families, Trump continues to jack up prices and enact dangerous federal funding freezes that are devastating Americans across the country.   <\/p>\n\n\n\n

Here\u2019s a look at economists\u2019 and businesses\u2019 growing concerns with Trump\u2019s out-of-touch economic agenda:<\/em><\/p>\n\n\n\n

New York Times<\/a>: \u201cThe United States economy is starting to show signs of strain as President Trump\u2019s abrupt moves to shrink federal spending, lay off government workers and impose tariffs on America\u2019s largest trading partners rattle businesses and reverberate across states and cities.<\/strong><\/p>\n\n\n\n

\u201cFunding 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,<\/strong> according to recent economic surveys.<\/p>\n\n\n\n

\u201cLocal economies are also bracing for a sudden withdrawal of fiscal support,<\/strong> 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.\u201d<\/strong><\/p>\n\n\n\n

The Telegraph<\/a>: \u201cEconomists are starting to worry about a serious Trump recession\u201d<\/strong><\/p>\n\n\n\n

\u201cDonald Trump\u2019s assault on the US federal government and the world\u2019s interlinked manufacturing system have together reached an economic tipping point.<\/p>\n\n\n\n

\u201c\u2018It seems almost unavoidable that we are headed for a deep, deep recession,\u2019 <\/strong>said Jesse Rothstein, Berkeley professor and former chief economist at the US labour department. \u2026 <\/p>\n\n\n\n

\u201cProf Rothstein said monthly non-farm payrolls \u2013 the barometer of US economic health watched closely by markets \u2013 could turn viciously negative by late spring, contracting at rates surpassed only during the worst months of Covid and the Lehman crisis in 2008. \u2026<\/strong><\/p>\n\n\n\n

\u201cTorsten Slok, of Apollo Global, said layoffs could approach 1m after factoring in the likely chain reaction through contractors. \u2018We are starting to worry about the downside risks to the economy and markets,\u2019 he said.\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cJobless claims spike, in worrisome sign for the US labor market\u201d<\/strong><\/p>\n\n\n\n

\u201cFirst-time applications for unemployment benefits rose much more than expected last week<\/strong> \u2026 a potential worrisome hint that cracks may be forming in America\u2019s long-solid labor market.<\/strong><\/p>\n\n\n\n

\u201cThere were an estimated 242,000 jobless claims filed last week,<\/strong> according to seasonally adjusted data released Thursday by the Department of Labor. That\u2019s an increase of 22,000 from the prior week\u2019s tally and a figure that landed well above economists\u2019 expectations for 220,000 claims.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Donald Trump is steering the American economy into a \u201cdeep recession\u201d that will skyrocket inflation and stifle business growth \u2014 and economists are sounding the alarm with economic policy uncertainty at higher levels than any time during the Great Recession. After admitting that his $100 billion national tax would cause \u201cpain\u201d for working families, Trump […]<\/p>\n","protected":false},"author":292,"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-1051742","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\n\u201cA Serious Trump Recession\u201d: Economists Warn Trump\u2019s Federal Funding Freezes and $100 Billion National Tax Are Threatening the Economy - 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\/a-serious-trump-recession-economists-warn-trumps-federal-funding-freezes-and-100-billion-national-tax-are-threatening-the-economy\/\" \/>\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=\"2025-02-27T18:53:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T18:54:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\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\/a-serious-trump-recession-economists-warn-trumps-federal-funding-freezes-and-100-billion-national-tax-are-threatening-the-economy\/\",\"url\":\"https:\/\/democrats.org\/news\/a-serious-trump-recession-economists-warn-trumps-federal-funding-freezes-and-100-billion-national-tax-are-threatening-the-economy\/\",\"name\":\"\u201cA Serious Trump Recession\u201d: Economists Warn Trump\u2019s Federal Funding Freezes and $100 Billion National Tax Are Threatening the Economy - 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