Trump Economy

Inflation accelerated in June as Trump’s tariffs started to negatively affect the economy. The Consumer Price Index rose 2.7 percent from a year earlier, data released by the Bureau of Labor Statistics showed. That is slightly higher than expected and up from an annual pace of 2.4 percent in May. “Core” inflation, which strips out volatile food and energy prices were up 2.9 percent from the same time last year.

Over the course of the month, prices rose 0.3 percent, a notable pickup from a 0.1 percent increase in May. Core prices rose 0.2 percent.

Trump was underwater (more unpopular than popular) on issue after issue in a CBS News/YouGov poll, with broad disapproval on his handling of the economy: 70% of those polled said his administration wasn’t doing enough to lower prices, and 61% said it was putting too much focus on tariffs. His arbitrary tariff deadline for America’s trading partners elapses this week.

Trump’s policies are not working to lower prices as his campaign promised.

As of the end of May, prices were up about 2.2 percent compared with a year earlier.

Eggs, coffee and meats — ground beef in particular — drove that increase.

The Social Security Trust Fund that pays retiree benefits is now projected to be depleted in 2032. At that point, the program will have enough incoming revenue to pay only 75 percent of benefits — in other words, a 25 percent cut.

Trump signed a spending bill that has driven nursing home operators into “survival mode,” says a veteran provider whose fears are widely shared by the industry. Lisa Thomson, the chief operating officer of Pathway Health, said:

It means uncertainty. It means stress. And it means we have to shift into survival mode — with a long-term vision. This bill is not just a policy shift — it’s a potential structural disruption to how skilled nursing facilities operate, staff and survive.

Donald Trump’s approval rating slid further hitting a new low of only 37% among U.S. adults, according to Gallup; he continues to lose the support of independent voters. Independents rated him most poorly on his handling of the budget, Ukraine and foreign trade. The refusal to release the Epstein files hurts him most among MAGA supporters.