The official motto of the United States, “In God We Trust,” appears on every U.S. coin and bill. For many of us, it is a reminder of our moral compass.
When it comes to the economy, some Americans put their faith in Donald Trump. They believed that he would lower prices and strengthen the economy. After all, he’s a billionaire so he must know what he’s doing, right?
The unfortunate truth is that Trump was more successful playing a billionaire on TV than building successful companies. He inherited almost half a billion dollars from his father, and launched a string of failures – Trump Airlines, Trump Vodka, Trump Steaks, Trump University, and Trump Casinos. He filed for corporate bankruptcy six times.
Trump inherited the strongest economy in the world, and in only three months, he has seriously weakened it. He imposed sweeping tariffs on almost every country on earth, even sparsely inhabited territories. His global trade war pits the U.S. against the world. Other countries retaliated, hurting American farmers, business owners, and workers.
The stock market dropped like a stone. Retirement accounts shrank. Small businesses began laying off employees. Prices continued to rise. Economists predict Trump tariffs will cost the average American family several thousand dollars a year.
Millions of Americans, even many of his long-time supporters, are scared and angry.
Trump claims that if we trust his superior economic judgment, he will lead us to an economic golden age. That’s a gamble we can’t afford.
Harry Gural (4/24/2025)