Under President Trump and the GOP controlled congress, The U.S. Economy Still Continues to Regress.

 The failure of the U.S. economy continues to play out in Trump's 19th month in office since his re-election.  It is not anything new for Trump and his party as their past record on the economy represents failure.  And once again, the media and those who support and voted for Trump and his party continue to lie and misrepresent the economic facts.

The Labor Department reported the economy lost 23,000 jobs in July and job creation is at a standstill, a regression from the Biden administration's job creation record.  Soon after that information was released we learned that inflation for July came in at 3.4% higher than the same period of last year.  In President Biden's last full month in office in December 2024 inflation was 2.9%, very close to the range of 2% the Federal Reserve Bank uses as their guideline on inflation.  So, inflation is up in Trump's first 19 months in office.  

Then on August 8, 2026, the Federal Reserve Bank's data center reported wages and salaries are roughly 43% of GDP in the first quarter of 2026, the lowest since the great depression over 90 years ago.  Then just this week, the CBO projected that the federal budget deficit that ends 9/30/26 (Trump's first fiscal year budget) will end with a deficit of $2.1 trillion.  That would be Trump's 3rd fiscal year deficit of $2 or more trillion dollar deficits.  The first two came in  his first term in office when the deficit hit $3.1 trillion in his 3rd fiscal year and then $2.7 trillion in his last fiscal year.  Trump is the only President in history to have accomplished that.  He also holds the record of having accumulated total deficit spending of $7.5 trillion in his first four fiscal years in office.

Past PolitiDose commentary has predicted correctly what would take place on the Republican watch because of precedent, the history of their failed record on the economy and fiscal matters.  The con game by Trump, his party and those who choose to believe the con, enabled the lies, misinformation and the personal attacks.  They also did not care that Trump is a convicted criminal, sexual abuser and a convicted fraudster.  

The November election will allow the voters to change the direction of the country for the good of the people, because that is what government is all about.  In the mean time, stay tuned to PolitiDose, your daily dose of political commentary.

This commentary written by  Joe Lorio