Working Families are Paying the Price for Donald Trump’s Failing Economy Arrow

Numerous economic indicators this week once again show what Americans are already feeling - Donald Trump's failed economic policies are sending the economy into a spiral. Prices keep climbing, jobs are disappearing, and working families are being squeezed.

New reports today show that Americans are fed up with Trump's inflation crisis, as the largest share of consumers in a year "express frustration over the persistence of high prices." And for good reason - PCE inflation rose 0.3% in August and increased 2.7% compared to one year ago, reaching the highest inflation rate in six months.

The job market is unraveling, too. New graduates are facing one of the worst job markets in history, with fewer job opportunities in nearly every sector and hiring grinding to a halt. Seasonal hiring is forecast to fall sharply this holiday season as a result of Trump's trade war. And sky-high housing costs are making homeownership a pipe dream for middle-class and working families.

Trump is only making it worse. Just yesterday, Trump again imposed astronomical new tariffs on furniture, trucks, and imported drugs, which will send costs soaring even higher.

In response, DNC Rapid Response Director Kendall Witmer released the following statement:

"Nearly every economic indicator proves once again that Donald Trump's economy is collapsing amid soaring inflation. Prices keep climbing, the job market is in turmoil, housing costs are at an all-time high, farmers are being abandoned, and businesses are in panic. Trump has no plans to deliver on his promises to help American families - and the worst impacts of his disastrous economic policies are still to come. It's working people who will continue to bear the brunt of Trump's failed economy while the rich get richer thanks to Trump's massive tax cuts."

Meanwhile, Trump insisted that the economy is "back on track" - a slap in the face to millions of working families facing skyrocketing costs of household goods, energy, electricity, and housing. Working families are being forced to cut back on spending - and experts warn that tariffs could push nearly a million Americans into poverty.

To make matters worse, his billionaire-first budget bill guts health care and food assistance for working families while giving tax breaks to the rich, and Trump is continuing his crusade to raise health care costs even more. It's no surprise that working families continue to lose faith in Trump's failing economy.