New data shows that Donald Trump’s reckless policies are hurting the economy and pushing U.S. households to the brink. The Atlanta Federal Reserve’s latest estimate forecasts a 3.7% contraction in GDP in the first quarter of 2025, driven by Trump’s trade war and economic instability.
The news comes on the eve of Trump’s tariff announcement, which experts say is a tax that could cost American families up to $2,000.
The economy is shrinking under Donald Trump. Businesses are drowning in uncertainty, families are bracing for even higher costs, and the economic outlook is only getting worse.
“Trump’s economic chaos is squeezing the middle class while billionaires like him just keep getting richer. He promised higher wages and more jobs, but instead has the country on a fast track to stagflation after issuing a harmful trade war that will shrink the economy, cost jobs, and hike taxes on American households by $2,000,” said American Bridge 21st Century spokesperson Brandon Weathersby. “It’s another slap in the face for American families who are already living in fear that the Trump agenda will eliminate their Social Security benefits or send health care costs skyrocketing. If this attack on American households continues unchecked, it’s ultimately middle-class families who will suffer.”
Published: Apr 1, 2025 | Last Modified: Apr 4, 2025