U.S. Senate See Full Big Line

(D) J. Hickenlooper*

(R) Somebody

80%

20%

Governor See Full Big Line

(D) Michael Bennet

(D) Phil Weiser

60%↑

50%↓

Att. General See Full Big Line

(D) M. Dougherty

(D) Jena Griswold

(D) David Seligman

40%

30%

Sec. of State See Full Big Line

(D) A. Gonzalez

(D) J. Danielson

(R) Sheri Davis

50%

40%

30%

State Treasurer See Full Big Line

(D) Brianna Titone

(D) Jeff Bridges

(R) Kevin Grantham

40%

30%

CO-01 (Denver) See Full Big Line

(D) Diana DeGette*

(R) Somebody

90%

CO-02 (Boulder-ish) See Full Big Line

(D) Joe Neguse*

(R) Somebody

90%

CO-03 (West & Southern CO) See Full Big Line

(R) Jeff Hurd*

(D) Somebody

80%

40%

CO-04 (Northeast-ish Colorado) See Full Big Line

(R) Lauren Boebert*

(D) Trisha Calvarese

(D) Eileen Laubacher

90%

20%

CO-05 (Colorado Springs) See Full Big Line

(R) Jeff Crank*

(D) Somebody

80%

20%

CO-06 (Aurora) See Full Big Line

(D) Jason Crow*

(R) Somebody

90%

10%

CO-07 (Jefferson County) See Full Big Line

(D) B. Pettersen*

(R) Somebody

90%

10%

CO-08 (Northern Colo.) See Full Big Line

(R) Gabe Evans*

(D) Manny Rutinel

(D) Yadira Caraveo

45%↓

40%↑

30%

State Senate Majority See Full Big Line

DEMOCRATS

REPUBLICANS

80%

20%

State House Majority See Full Big Line

DEMOCRATS

REPUBLICANS

95%

March 06, 2025 01:28 PM UTC

Trump Steering Economy Off a Cliff

1 Comments
by: Colorado Pols

Economic news continues to darken faster than JD Vance’s eyeliner.

As CNN reports today:

The Trump administration’s massive federal cuts and swelling feelings of economic uncertainty helped fuel a recession-level spike in layoff plans last month, new data showed Thursday.

US-based employers last month announced plans to slash 172,017 jobs, a 103% increase from a year ago and the highest February total since 2009, according to Challenger, Gray & Christmas’s latest monthly job cuts report released Thursday.

It’s the 12th highest monthly total in the 32 years Challenger has been tracking job cuts. The 11 others (four came during the Covid-19 pandemic) all occurred when the US was in a recession, Challenger data shows.

The worst February job loss data since 2009, and the first time in 32 years that job losses have been this bad outside of a recession.

That’s not good.

What’s worse, as The Washington Post explains, is that President Trump doesn’t seem to have any sort of plan for actually dealing with his central 2024 campaign pledge to bring down inflation and the price of groceries:

On his first day in office, President Donald Trump pointedly signed an “emergency” executive order directing agencies to take steps to reduce the cost of living and requiring his top economic adviser to report back on the progress within 30 days.

Forty-four days later, the White House said there is no formal report, just conversations between Trump and National Economic Council director Kevin Hassett.

“The president knows his plans,” a White House official said, speaking on the condition of anonymity because the official wasn’t authorized to discuss the matter publicly. The official declined to provide details and referred further questions to various federal agencies. Hassett did not respond to requests for comment. [Pols emphasis]

Gah! That’s one hell of an ominous paragraph. The only “plans” that Trump seems to have in his head are to keep blaming Joe Biden, but Americans are already tiring of that tune:

Trump’s joint address to Congress on Tuesday featured no new actions or proposals on the No. 1 issue for voters in November: the economy. Instead, he blamed his predecessor for higher prices for staples such as eggs and fuel, as well as agricultural products, and previewed more pain to come because of his raising tariffs on imports from the United States’ largest trading partners (China, Canada and Mexico).

Consumer prices rose 3 percent in January relative to a year earlier, the highest rate since June, according to the Bureau of Labor Statistics. Energy costs rose 1 percent, after five months of year-over-year declines. Eggs spiked to a record $4.95 per dozen, as millions of hens were slaughtered to contain an ongoing bird flu outbreak.

Most Americans, 51 percent, disapprove of Trump’s handling of inflation, according to a Reuters-Ipsos national survey conducted in mid-February. Forty-seven percent disapproved of his handling of the economy overall, compared with 39 percent approval. Almost two-thirds of Americans said the country was on the wrong track when it came to their personal cost of living. [Pols emphasis]

Trump announced today that he is “pausing” some tariffs placed on Mexico and Canada, a move that is almost certainly in response to the overwhelmingly-negative reaction to his baffling trade wars. As CBS News explains, the stock market is also sliding again as companies scramble to make sense of Trump’s trade policies and consumer spending tanks:

Recent signals suggest the economy is weakening. Most worrying is a downturn in spending by American consumers, with federal data showing that retail sales across the U.S. dipped 0.9% in January…

…At the same time, inflation accelerated in January and remains stubbornly above the Federal Reserve’s 2% annualized target. Recent economic trends have sparked fears that the U.S. could be headed for a rare bout of “stagflation,” or when the economy and the job market slow at the same time inflation rises. The country hasn’t faced such a period of economic distress since the late 1970s and early 1980s. [Pols emphasis]

Trump is setting a bunch of new records when it comes to the economy.

Unfortunately, all of them are bad.

One thought on “Trump Steering Economy Off a Cliff”

JohnInDenver says:

March 6, 2025 at 10:36 pm

4 reports come tomorrow, Any guesses on what happens to th eUS unemployment rate?

FRIDAY, MARCH 7
,,,,, ,,,,, ,,,,, ,,,,, ,,,,, ,,,,, ,,,,, ,,,,, period ,,,,, Forecast ,,,,, previous
8:30 am,,,,, U.S. jobs report ,,,,, Feb. ,,,,, 170,000 ,,,,, 143,000
8:30 am,,,,,unemployment rate,,Feb. ,,,,,,,,, 4.0%,,,,, ,,,,, 4.0%
8:30 am,,,,, U.S. hourly wages,,,,Feb.,,,,,,,, 0.3%,,,,, ,,,,, 0.5%
8:30 am,,,,, Hourly wages ,, year over year,,4.2% ,,,,,,,,,, 4.1%

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Trump Steering Economy Off a Cliff

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