Throughout his second term, President Donald Trump has been on a relentless push to boost fossil fuels, undermine renewable energy, and end all federal regulation to address climate change. The administration claims that this push will help people in the U.S. save money. But in reality, the opposite is true: Fossil fuel dependence makes life more expensive. Thanks to the U.S.
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An analysis released this week by the Federal Reserve Bank of New York shows that food insecurity in the US has reached levels not seen since the height of the coronavirus pandemic, underscoring the devastating impact of Republican cuts to federal nutrition assistance and President Donald Trump’s inflationary economic and foreign policy decisions. In a blog post, New York Fed researchers…
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On Monday, the Bureau of Labor Statistics (BLS) published its April Consumer Price Index (CPI) report, showcasing that inflation is the highest it’s been in the past three years. According to the CPI, prices on all consumer goods shot up by 3.8 percent over the past year. The report indicates that Americans’ wages are no longer keeping up with the pace of inflation — in other words…
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In a Fox News interview earlier this week, President Donald Trump appeared to acknowledge that the war on Iran he started in late February would have economic consequences, including higher gas and oil prices for the foreseeable future. While higher prices are detrimentally affecting millions of Americans at gas pumps across the country, Trump — who campaigned on lowering costs to below $2…
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As major firms have blared dire warnings about the effects of the U.S. and Israel’s war on Iran on the economy and the growing affordability crisis, President Donald Trump on Sunday bragged to reporters about plans for his $400 million gilded White House ballroom on Air Force One. Holding up printed renderings of the ballroom, Trump bragged for several minutes about the extravagant-looking…
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President Donald Trump delivered his first State of the Union speech since returning to the White House for a second term, largely ignoring the real economic conditions of the American people. Trump declared economic success, claiming “the interests of hardworking American citizens are always our first and ultimate concern.” “The roaring economy is roaring like never before,” Trump said.
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