BILLBOARD News Now
Trump’s 5-alarm economy
(Editor’s note: Axios AM is a keen observer of the economy. This morning they published a piece worthy of providing to our readers.)
President Trump flew to Beijing on Tuesday under some of the darkest economic clouds of his political career, leaving behind a country reeling from the cost of everyday life, Axios Zachary Basu writes.
O Why it matters: The bottom is falling out on Trump’s economic credibility — the central promise of his return to power. The inflation crisis that doomed his predecessor suggests he may not recover.
A new CNN poll found that 70% of Americans disapprove of Trump’s handling of the economy — a benchmark that never crossed 50% in his first term, even during the pandemic.
O 77% of Americans, including a majority of Republicans, say Trump’s policies have driven up the cost of living in their own community.
For now, Trump appears unconcerned, convinced that renewed inflation is temporary and that gas prices will plummet once he ends the Iran war.
O Asked before departing for China whether Americans’ financial struggles were motivating his push for a deal with Iran, Trump replied: “Not even a little bit.”
O “The only thing that matters when I’m talking about Iran is they can’t have a nuclear weapon,” he added. “I don’t think about Americans’ financial situation.”
The big picture: The affordability crisis that fueled Trump’s return to power has become a five-alarm threat to his presidency — even as GDP growth, fueled largely by the AI boom, remains strong on paper.
- Prices are surging: Inflation spiked to 3.8% in April as the Iran war pushed the national average price of gas above $4.50 a gallon.
O Economists fear the energy shock is beginning to ripple through the broader economy, pushing up the cost of groceries, airfare, electricity and other essentials Americans rely on every day.
- Paychecks are shrinking: Tuesday’s inflation report showed that prices are outpacing wages for the first time in three years, erasing gains in real purchasing power.
O American households have absorbed a rise of nearly 30% in consumer prices since the pandemic — a cumulative toll that has never fully healed, Axios’ Courtenay Brown reports.
- Debt is mounting: Americans are increasingly leaning on credit cards and loans to absorb rising costs, with consumer borrowing posting its biggest monthly jump in March since late 2022.
O The personal savings rate fell to 3.6% in March, its lowest level since 2022, as lower-income households burn through savings to cover essentials.
- Confidence is collapsing: Consumer sentiment has cratered to record lows as Americans grow pessimistic about the economy and their own financial futures.
A new YouGov/Economist poll found that 59% say the economy is getting worse, while just 15% say it’s improving. More than two-thirds of Americans say the country feels “out of control.”
- Main Street is souring: The National Federation of Independent Business says optimism around future business conditions and expansion plans has fallen to its lowest level since before Trump’s reelection.
O Small businesses are often treated as an economic early-warning system because they’re especially vulnerable to rising fuel costs, tighter credit and weakening consumer demand.
The other side: Despite Trump’s public confidence, buoyed by a booming stock market, the White House is increasingly signaling it recognizes the political danger posed by rising prices.
O Trump this week endorsed suspending the federal gas tax, an emergency measure typically reserved for periods of acute consumer pain.
O He also urged the House to pass the bipartisan “21st Century ROAD to Housing Act,” framing housing affordability as central to “the American Dream” after years of elevated mortgage rates and soaring home prices.
What they’re saying: “While the President has been clear about short-term disruptions as a result of Operation Epic Fury, the Administration is focused on implementing the proven Trump agenda of tax cuts, deregulation, and energy abundance to keep America on a solid economic trajectory,” White House spokesperson Kush Desai said in a statement.
O “As traffic in the Strait of Hormuz normalizes again, Americans will again see gas prices plummet, real wages grow, inflation cool, and trillions in investments continue pouring in.”
What to watch: AtlasIntel, ranked among the most accurate pollsters of the 2024 election, found this week that Democrats are leading the generic House ballot 55% to 40%.
O Even more striking: Democrats now lead on every major economic issue tested, including the cost of living (+15), the economy (+17) and economic inequality (+20).
O If that shift hardens before the midterms, even the GOP’s newfound redistricting edge may not save the House from a blue wave.
Use icons and envelope above to forward this post to your friends.
Follow us on Twitter (X), Bluesky, Instagram, Facebook or Threads.
Fallen
Florida Republicans may not be a happy with Governor Ron DeSantis. He says his 2024 presidential campaign is “suspended” however DeSantis name appeared on the Florida presidential primary ballot yesterday. Out of 1,116,515 votes cast DeSantis could only muster...
Desperate
If you care about America, then you are concerned about our national security. With the 2024 presidential candidates reasonably settled a national security issue presents itself. Beginning in 1952 it has been the custom to provide classified intelligence briefing to...
WOW!
(Editor’s Note: Robert Harris writer of the post below has a keen political eye & understanding of Congress.) Biden Was Easy On The Eyes, Hard to Watch Katy Britt Last night was a memorable evening in the House chamber. President Biden entered swinging and he...
History Repeats
President Biden will come before Congress tomorrow evening to address the nation. He will stand in front of the least productive Congress in decades. A similar environment faced by President Truman as he prepared to run for President in his own right. Maybe Biden...
Embarrassment
The United States Congress is an embarrassment. It’s time to move the focus from the 2024 presidential campaign to Congress. The news media, whether its TV talk shows, print, think tank pieces, or social media has forgotten Congress. Congress does not and cannot...
Biden-Nixon
Wall Street Journal columnist Peggy Noonan has written an insightful column. The important messages are knowing when to leave the stage and “always thinking about American.” Is history going to repeat itself? “The only time Democrats get excited now is when the...
Betrayal
“It was the best of times…it was the worst of times”…and these are the most unsettling times…with Trump’s shocking NATO statement Saturday, encouraging Russia to do “whatever the hell they want to do…” brings back frightening memories of World War II and the cold...
Sports Streaming
(Editor’s note: The writer Bill Phillips is a former West Virginia Racing Commissioner & served on the Board of the Association of Racing Commissioners International.) Who is taking care of horse racing? My first thought upon learning a sports streaming service...
Political Tidbits
Florida Gov. DeSantis received 25,732 votes in two GOP primaries…before suspending his campaign. Based on his PAC spending 160 million dollars…that works out to a mere $6,217 spent for each vote he received. His failed campaign got him 9 delegates to the Republican...
Is He Done?
It’s only been eleven days since Florida Governor Ron DeSantis “suspended” his presidential campaign. Since he returned home, I have observed he is following the same pattern he did months before announcing a run for the presidency. I pointed out several instances...
It’s Time
Has the time arrived for coalition government in America? We are a two-party country. One that no longer works. We are faced with a political environment that is getting worse each day. Congress is divided on nearly every issue and spinning its wheels. The...
Growing Democrats
Reluctantly, I am going to enter the discussion going on in West Virginia’s Republican party. The Republican State Committee is considering a resolution to forbid independent voters their opportunity to vote in the May Republican primary. After a lifetime working to...
BILLBOARD Archives
DeSantis’ Future
Speculation is starting regarding Governor Ron DeSantis’ political future. He has three years left as Governor. In September when his presidential campaign started showing signs of stress, I posted a blog suggesting he consider a run for the U. S. Senate. The...
2 Crutches
Florida’s hard right Governor Ron DeSantis was already a “lame duck.” He returned from a failed presidential campaign “as a duck with two crutches”. He retreated to the Governor’s Mansion. Others suspended their campaigns facing supporters, friends and the media. ...
270
Iowa is now out of the way. Obviously, the campaign for president is getting all the attention. But there are other potentially vital campaigns just starting. They may play a significant role in who is the next president. Those are races for members of the U. S....
My Take
Ron DeSantis confirmed last night it’s still all about him. In his Iowa post-election speech, he never once thanked Iowans for their votes & hospitality. Throughout his campaign he made a big deal of visiting all 99 counties. MANY PEOPLE AND BUSINESES OPENED...
What Is a Caucus?
Several blog readers have inquired about the Iowa Caucus. Wondering how it works. While reading Reuters this morning I came across an article that answers the question. For those interested here is a link to click.
“not going away”
Governor Chris Christie said he was “not going away” while suspending his presidential campaign. Fantastic news since he is the person who really knowns Donald Trump. He left no doubt he is committed to preventing Trumps return to the oval office. It didn’t take long...
In & Out
OUT IN House Speaker Johnson Who Knows Gov. Ron DeSantis Ms,...
They’re Off!
Not all races are political, there is horse racing. Many readers of this blog including my wife & I have been involved with horse racing over the years. She claims to have cut her teeth “on the rail” at Charles Town! Being native West Virginians a piece in...
Stable vs Chaos
Kristen Soltis Anderson, a Republican pollster and moderator of the New York Times Opinion focus group series, took a usual look at the 2016 presidential race vs the 2024 one in progress. Below are excerpts from Ms. Anderson piece “How Trump is Running Differently...
A Solution
Since posting Robert Kagan opinion piece about a Trump dictatorship he has written a second. Some of his readers were unhappy he did not offer a solution. Below are excerpts from his response. “Can a Trump dictatorship still be prevented? Yes. It does not require a...
Apology
Posted on this blog earlier was an article from The Washington Post. I failed to point out those without a subscription to The Post would be required to enter their email address to read the entire piece. Our apologies
Stop Pretending
Since reading an opinion piece last month “A Trump dictatorship is increasingly inevitable. We should stop pretending.” The points made by the author are worth considering and worth my time to read. After much thought and a couple re-reads, I decided to post on...