The article discusses the current state of the U. S. economy and the blame being placed on President Donald Trump for a recession. It highlights the ongoing economic issues faced during the Biden administration, arguing that many of these problems predate Trump's presidency.
• Recent media narratives accuse Trump of "manufacturing" a recession despite economic decline under Biden.
• The U. S. economy has been deteriorating for years, with rising homelessness, increased food bank usage, and high inflation.
• Credit card debt among American households reached levels not seen since the Great Recession, mainly under Biden's term.
• Missed auto loan payments have reached a 30-year high, again occurring before Trump took office.
• Even high earners are struggling with debt, with significant increases in late payments noted.
• The article claims that blaming Trump is unreasonable given his short time in office and the long-term nature of the economic issues.
• Airlines and retailers are adjusting profit estimates downwards, and Trump’s tariff policies may exacerbate economic pain.
• The author expresses concern about the potential for increased economic hardship, particularly for low-income families, due to ongoing trade wars.
• Calls for economic stability are made, urging smart decisions from Trump’s administration and the Federal Reserve to lower interest rates.
The article emphasizes that the economic difficulties being encountered should not be attributed solely to Trump, as they stem from policies enacted during Biden's administration. There is hope for recovery, but it will require wise decisions moving forward.
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