{"id":1053940,"date":"2025-07-07T18:16:40","date_gmt":"2025-07-07T22:16:40","guid":{"rendered":"https:\/\/democrats.org\/?p=1053940"},"modified":"2025-07-07T18:16:40","modified_gmt":"2025-07-07T22:16:40","slug":"1-2-punch-trumps-reckless-budget-bill-and-erratic-tariffs-lead-to-economic-chaos-and-rising-costs","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/1-2-punch-trumps-reckless-budget-bill-and-erratic-tariffs-lead-to-economic-chaos-and-rising-costs\/","title":{"rendered":"1-2 Punch: Trump\u2019s Reckless Budget Bill and Erratic Tariffs Lead to Economic Chaos and Rising Costs"},"content":{"rendered":"\n
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After Donald Trump signed the largest cuts to food assistance and health care in American history, he is continuing to bury working families in higher costs and more economic uncertainty. Trump\u2019s chaotic economic agenda is raising inflation<\/a>, skyrocketing housing costs<\/a>, and hamstringing business<\/a>. The bottom line: Trump and his Republican lackeys are abandoning families, farmers, and small businesses all to line their own pockets.    <\/p>\n\n\n\n

Here\u2019s a look at how Trump\u2019s devastating economic agenda is hurting Americans:<\/em><\/p>\n\n\n\n

NBC News<\/a>: \u201cNew homes in the United States are set to get more expensive thanks to President Donald Trump\u2019s tariff agenda, which is expected to raise the costs of a wide variety of materials that go into building houses.<\/strong><\/p>\n\n\n\n

\u201cAn NBC News analysis of building materials and import data found that the total cost of building a mid-range single-family home could rise by more than $4,000 \u2014 an estimate that industry experts who reviewed the analysis called conservative. An April survey from the National Association of Home Builders estimated tariff impacts at $10,900 per home. \u2026<\/strong><\/p>\n\n\n\n

\u201cRobert Dietz, chief economist at the National Association of Home Builders, said the tariffs have an impact beyond their direct cost as they send uncertainty rippling through the supply chain and leave builders unsure how to plan for the future.\u201d<\/strong><\/p>\n\n\n\n

Axios<\/a>: \u201cThe White House promised a summer of tariff clarity. Now it looks like it might be another season of confusion. \u2026<\/strong><\/p>\n\n\n\n

\u201cThe fear among business leaders is the trade wars started when Trump took office don’t have a firm end date \u2014 a worry that grows with each shifting deadline. \u2026<\/p>\n\n\n\n

\u201cThe reciprocal tariffs paused roughly 90 days ago were set to be reimposed on Wednesday. Days before, Treasury Secretary Scott Bessent suggested that August 1 is actually the next date to watch. \u2026<\/p>\n\n\n\n

\u201cIt is the latest murky timeline that business leaders will have to try to understand.\u201d<\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cUS fiscal folly could create big, beautiful debt spiral\u201d<\/strong><\/p>\n\n\n\n

\u201cThe U.S. tax and spending bill passed on July 3 is expected to add more than $3 trillion to the country\u2019s deficit over the next decade. If the current debt trajectory continues unabated, it could set off a slow motion debt spiral that could endanger the Federal Reserve\u2019s independence.\u201d<\/p>\n\n\n\n

CNBC<\/a>: \u201cAmericans are struggling with layoff anxiety: It\u2019s causing workers to \u2018burn out faster,\u2019 experts say\u201d<\/strong><\/p>\n\n\n\n

\u201cU.S. employers reported nearly 700,000 job cuts in the first five months of 2025, according to outplacement services firm Challenger, Gray and Christmas, an 80% increase compared to job cuts in the first five months of 2024.\u201d<\/p>\n\n\n\n

Fox Business<\/a>: \u201cAtlanta Federal Reserve President Raphael Bostic warned Thursday that he believes tariffs are likely to cause a prolonged stretch of inflation <\/strong>as opposed to a one-time spike in costs.\u201d<\/p>\n\n\n\n

New York Times<\/a>: \u201cThe president\u2019s whipsawing tariffs and cuts to agriculture grants and global food aid have left the state with swollen silos, shrinking markets and volatile prices for crops.<\/strong><\/p>\n\n\n\n

\u201cLast year Kansas sold half its annual wheat crop abroad, but those buyers have mostly dried up. At least one big grain broker is now trying to sell Kansas grain that once fed people overseas for use in dog food.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

After Donald Trump signed the largest cuts to food assistance and health care in American history, he is continuing to bury working families in higher costs and more economic uncertainty. Trump\u2019s chaotic economic agenda is raising inflation, skyrocketing housing costs, and hamstringing business. The bottom line: Trump and his Republican lackeys are abandoning families, farmers, […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1053940","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\n1-2 Punch: Trump\u2019s Reckless Budget Bill and Erratic Tariffs Lead to Economic Chaos and Rising Costs - 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\/1-2-punch-trumps-reckless-budget-bill-and-erratic-tariffs-lead-to-economic-chaos-and-rising-costs\/\" \/>\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=\"2025-07-07T22:16:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1101\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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\/1-2-punch-trumps-reckless-budget-bill-and-erratic-tariffs-lead-to-economic-chaos-and-rising-costs\/\",\"url\":\"https:\/\/democrats.org\/news\/1-2-punch-trumps-reckless-budget-bill-and-erratic-tariffs-lead-to-economic-chaos-and-rising-costs\/\",\"name\":\"1-2 Punch: Trump\u2019s Reckless Budget Bill and Erratic Tariffs Lead to Economic Chaos and Rising Costs - 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