The political scene is buzzing with the excitement of President Trump’s economic strategies for the coming year. With the economy at the forefront of his agenda, the President is ready to transform the financial landscape, or at least that’s what he’s promising. Inflation rates are finally dipping to 2.7% from September’s 3%, a subtle breath of fresh air for those who remember the troubling figures from prior years. It seems the President is taking a victory lap, reminding everyone of the economic chaos he apparently inherited. But what’s the bigger news here? The tease of tax cuts and housing reform taking center stage in the coming year.
The President, never one to be shy about expressing accomplishments, is emphasizing the positive trajectory of inflation. According to the President, what the current administration inherited was nothing less than a financial disaster. He argues that the country faced the worst inflation in 48 years, a stat that he assures contemporaries is a matter of historical record. With prices allegedly dropping, it appears the administration believes it’s well on its way to correcting past errors. Yet, the real promise lies in the supposed bounty of tax refunds and housing checks President Trump plans to unveil next year.
Next on the economic docket is housing reform, which the President is considering tackling with the possible declaration of a national emergency. One can hardly contain their curiosity about what that emergency might entail, considering the houses Americans were worried about buying in the first place. The President assures the public he wants to take care of those whose homes have become valuable commodities—ensuring homeowners can maintain wealth and happiness, especially through their golden years. The goal seems noble; to make housing as accessible as it is economically sensible for future buyers.
For all the pledges and promises, public opinion seems split. A recent Fox News poll reveals only 39% of voters approve of how the president is handling the economic front. Astonishingly, this mirrors sentiments four years ago during the Biden administration when nearly half of voters believed the economic focus was misplaced. It appears the more things change, the more they stay the same, as Americans continue to scrutinize and question fiscal priorities.
Adding to the discourse is the ever-present specter of taxation. Republicans, including President Trump, have long criticized Democrats for their apparent penchant for tax hikes. The narrative unfolds as Republicans tout past victories of stopping a potential $4 trillion tax increase, all in favor of ensuring Americans keep more of their hard-earned cash. Grover Norquist, with his usual flair, likens the Democrats’ tax aspirations to something of a dystopian fable, full of fantastical creatures like unicorns and leprechauns dictating economic principles. So while the battle of facts versus feels rages on, one thing is certain: the landscape of tax and spend isn’t changing anytime soon.
