NEW INFLATION DATA: Prices Surge To Record Highs as the Trump-Vance Economy Continues to Nosedive Arrow

New economic data released today reveals that under Donald Trump and JD Vance, core inflation in April surged to 3.8%, the highest level in three years. First-quarter GDP growth was also revised down to 1.6% from 2.0%, as Trump's deadly and costly war with Iran continues to stifle economic growth.

Americans are cutting back on spending as inflation eats up more of their paychecks, and economists project that prices will continue to climb this year, warning, "Food is going to become less affordable, and consumers should be prepared for it."

Today's report follows data released last week showing consumer sentiment sank to its lowest level ever recorded for the second month in a row - lower than during the Great Recession in 2008 and the COVID-19 pandemic, as Trump's reckless trade war and war with Iran drive prices higher.

Treasury Secretary Scott Bessent is taking to the podium today to host the White House press briefing, and his appearance comes as he has spent months desperately trying to convince Americans that the financial pain they're feeling isn't real. Last month, Bessent said that, "in their heart of hearts," Americans "feel good" about Trump's economy. And just yesterday at Trump's cabinet meeting, Bessent said, "on the economy, two words: resilience and prosperity."

Meanwhile, as Americans struggle to make ends meet in his economy, Trump said recently he doesn't think about Americans' financial situations "even a little bit."

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

"Donald Trump and JD Vance's economy has made life unbearable for working families. Prices are soaring as consumers cut back on spending and stretch their budgets to afford basic necessities. Trump promised to 'defeat inflation,' but Americans are still stuck with skyrocketing prices on everything from gas to groceries to healthcare - all so Trump can bankroll his vanity projects and massive tax cuts for his wealthy donors."

It's no wonder Trump's approval has fallen to record lows. In a new poll released yesterday, Trump's net approval hit a dismal -26 points as over 40% of Americans say they and their families are worse off financially than they were one year ago. Another poll last week found that over 75% of Americans think economic conditions are getting worse, and 60% of Americans disapprove of Trump's handling of the economy, the lowest of either of his terms.