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.
Newt Nixon & Tidbits
Is Newt Gingrich the new Nixon…both with razor sharp minds…neither governed as they ran…both with more than two lives...Nixon had big ideas…Newt wants a colony on the moon…both were great disappointments…both left office in disgrace. Endorsements matter…at least for...
Supreme Court Says It’s A Go
A cloud hanging over the 2012 congressional elections has been removed for now. Earlier today the U.S. Supreme Court struck down the District Court redistricting decision. Blocking the January 3rd decision means the redistricting map that moved Mason County from the...
Tidbits & Lees Stirs Response
2012 arrived with West Virginians focused on the football success of Marshall University and WVU…now facing TWO MORE elections in 2012…of course the political types like myself…love it. The political rumor mill is operating at full speed…making the rounds at the WV...
Jim Lees “The Republican Party Gone Crazy?”
Jim Lees (Former WV Democrat Candidate for Governor) Has the Republican Party gone completely nuts? I just finished watching Rick Perry refer to Governor Romney for the third time today as a “Vulture Capitalist” and I just finished watching Newt’s “independent...
Thought Provoking
This has been a tumultuous political year that has seen an effort to further divide the country. As we close out 2011 today’s Charleston Gazette had a thought provoking piece by Froma Harrop a columnist for the Providence Journal. As we face the political world...
Political Tidbits 12.7.11
GOP Presidential contest comes to WV…Gov. Mitt Romney is the first to launch an effort here…75 political & civic leaders make up the Steering Committee …click here to see the list [in the interest of full disclosure I am involved in the WV effort]. An INSIGHT...
Maloney Files Pre-Candidacy
This morning Bill Maloney filed pre-candidacy paperwork for Governor with the Secretary of State. A full disclosure of candidacy will occur when candidates file for office in West Virginia starting January 9th ending on January 29th.
Maloney To Announce
Maloney To Announce PHILLIPSBILLBOARD has learned Bill Maloney former GOP gubernatorial candidate will make an announcement Tuesday regarding his political plans to file an exploratory committee. It is rumored Maloney will run again if he can raise in the...
Super Committee Flunks
Senator Harry Reid, the Democratic Leader in the U. S. Senate suggested the ideas of the super committee that will be making big news this week. Reid was quoted in the Las Vegas Sun last week said “I have no regrets whatsoever about the suggestion that I made for a...
Obama Pressure on Coal Jobs
The Obama administration pressured analysts to change an environmental review to reflect fewer job losses from a proposed regulation, the contractors who worked on the review testified Friday. The dispute revolves around proposed changes to a rule regulating coal...
Political Observations & News
A Blurry President Barack Obama, the blurry president is covered by The Morning Fix. Democratic pollster makes observations in a memo. Read the full piece here. Perdue House Calls The Charleston Gazette has found nearly a third of State Treasurer John Perdue’s...
Perdue & the FBI
Employees Homes Visited The Charleston Gazette reports this morning the FBI is questioning WV Treasurer John Perdue’s employees about campaign contributions. Below you will find copies of the finance reports Perdue filed with the Secretary of State in his primary...
BILLBOARD Archives
Governor’s Finance Reports
The money has been collected, borrowed and spent. The 2011 Special Election candidates for Governor filed their reports this afternoon. Below you can click and see where the money came from and where it went. Bill Maloney Earl Ray Tomblin
Inaugural Tidbits & Politics
WV Gubernatorial history yesterday…and in the making…now Governor Earl Ray Tomblin…in his inaugural address…stayed with his campaign message...the 2012 primary election filing only 57 days away…potential opponents were in the audience…but no signs of a campaign. At...
Election 2012
In case you are not one of phillipsbillboard readers following the presidential campaign, you may find The Washington Post articles below a good update. The election is only 364 days but seems in full swing. A year from Election 2012, a dark mood awaits Obama and...
Manchin Front Page of WSJ
WV Senator Joe Manchin takes front page of today’s Wall Street Journal. The article entitled “Wayward Senate Democrats Keep Distance From Obama.” Read the full story here.
Obama Challenger?
Obama Challenger? It is amazing to me that no one in the Democratic Party is challenging Obama. There must be some capable folks out there who believe they could do a better job. When Lyndon Johnson was on the ropes in 1968, Senator Eugene McCarthy took him on, won...
Political Tidbits…10.11.11
POSTMORTEM - week later. 7 lessons from Tomblin’s victory featured in POLITICOS post election coverage…it is interesting…if you want to read click here…otherwise there have been a lot of thoughtful coverage in the State’s media. Best post election line appeared in...
The Morning After
The special election for Governor is in the history books. Let’s be clear this was not a victory for President Obama or Obamacare. “Stay the course” was the winner. As we look back Senate President Earl Ray Tomblin chose the right course when he became acting...
Finance Reports Here…Election Underway
Candidates for governor have filed their last finance report until after the special election. Early voting started this week. The reports filed today cover expenditures from August 22 until September 18. To see where Republican Bill Maloney has gotten his money...
Political Tidbits…What Happen Last Night?
Party faithful last night honored Lincoln & Reagan…and cheered on GOP gubernatorial candidate Maloney…Mississippi Gov. Haley Barbour was brought in…for the Gala…to push Maloney’s election….beat up on EPA spoke before dinner and departed. FIERY speaker of the...
Governor’s Race Starts
Well it finally started. The results are in from a survey conducted by Public Policy Polling (PPP) in North Carolina. The Governor’s race will be getting more attention, more activity and more enthusiasm to activate the party faithful. What the candidates need is...
Labor Day…Political Tidbits
Labor Day…a traditional start of political campaigns…something better start this special election for Governor…or no one is going to vote…there is no enthusiasm about this election…it appears even party activists are quiet. WHAT IS GOING ON…State Republican Committee...
Political Tidbits…8.28.11
38 days and voters are counting when they will be free from another political campaign…all the while candidates for Governor are counting the money…financial reports were to be filed Friday…not yet posted on SOS website…appears Tomblin’s funds have come from...