SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
To donate by check, phone, or other method, see our More Ways to Give page.
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
The Trump economy is truly sh*tty for most Americans. Democrats need to show America that they can be better trusted to bring prices down and real wages up.
President Donald Trump claimed last week on social media that “Our economy is BOOMING, and Costs are coming way down,” and that “grocery prices are way down.
Rubbish.
How do I know he’s lying? Official government statistics haven’t been issued during the shutdown—presumably to Trump’s relief (the White House said Wednesday that the October jobs and Consumer Price Index reports may never come out).
But we can get good estimates of where the economy is now, based on where the economy was heading before the shutdown and recent reports by private data firms.
First, I want to tell you what we know about Trump’s truly sh*tty economy. Then I’ll suggest 10 things that Democrats should pledge to do about it.
While the cost of living isn’t going up as fast as it did in 2022, consumer prices are still up 27% since the onset of the pandemic. Wages haven’t kept up.
Americans know this. In a recent Harris poll, 62% say the cost of everyday items has climbed over the last month, and nearly half say the increases have been difficult to afford.
Much of this is due to Trump’s tariffs, which are import taxes—paid by American corporations that are now passing many of the costs on to consumers. Even Trump knows this, which is why he’s removing tariffs on coffee, bananas, beef, and other agricultural commodities. But his other tariffs will remain, boosting the costs of everything else.
Every time Trump or his lapdogs in Congress tell Americans that the economy is terrific, they seem more out of touch with reality.
As a result, wages—when adjusted for inflation—have been falling, government and private-sector data show. Since the start of the year, inflation has been rising faster than after-tax pay for lower- and middle-income households, according to the Bank of America Institute.
According to the JPMorganChase Institute, the rate of real income growth has slowed to levels last seen in the early 2010s, when the economy was still recovering from the financial crisis and the unemployment rate was roughly double what it is today.
Americans are scared of losing their jobs. In the same recent Harris poll I referred to above, 55% of employed workers say they’re worried they’ll be laid off.
That worry is borne out in the data. Indeed’s job posting index has fallen to its lowest level since February 2021.
The Fed’s Beige Book—which compiles reports from Fed branches all over the country—also shows the job market losing steam.
The latest ADP private-sector data confirms that the labor market continued to weaken in the latter half of October, with more than 11,000 jobs lost per week on average.
Finally, Challenger, Gray & Christmas (a private firm that collects data on workplace reductions) reports that US employers have announced 1.1 million layoffs so far in 2025. That’s the most layoffs since 2020, when the pandemic slammed the economy, and rivals job cuts during the Great Recession of 2008 and 2009.
Nearly 900,000 homeowners (about 1.6% of all mortgage holders) are now underwater on their mortgages, the highest share in three years. Many of these buyers purchased in 2022-24 with low down payments in markets that have since cooled.
At the same time, filings for home foreclosures are up about 17% since the third quarter last year (according to ATTOM Data Solutions), suggesting more borrowers in trouble.
You might think that with all these stresses on American consumers, corporate profits would dip. But in reality, US corporate profits continue to rise, and the stock market continues to hit new highs (although the stock market is wobbly, as I’ll get to in a moment).
As a result, the investor class—the richest 10% of Americans, who own over 90% of the stock market—are reaping big rewards.
How to square this with all the layoffs and so few job openings? Amazon’s profits are through the roof, but it’s laying off 30,000 people.
First, corporations are reluctant to expand and hire because of so much uncertainty about the future, caused in large part by Trump’s tariffs and his expulsion from the US of many workers critical to the agriculture and construction industries.
Secondly, profits are being led by the six major high tech firms, whose monopolistic hold over their markets has given them the power to raise prices.
Third, many corporations are making use of artificial intelligence. AI is boosting business productivity while reducing the demand for workers. We’re seeing that trend mostly in the technology sector, which continues to substitute AI for jobs. But the trend seems to be spreading to other industries.
Put this all together and you get a two-tier economy whose inequality gap is widening.
America has always had a two-tiered economy, but for the last 80 years, the middle class has been in the upper tier along with the wealthy, while the working class and poor have been in the lower one.
Now, the middle class is joining the lower tier. This new reality has huge implications both for the economy and for American politics.
The richest 10% of households—whom I’ve described as the investor class—now account for nearly half of total US spending, thanks to the stock market surge. (Thirty years ago they were responsible for about a third.)
Meanwhile, middle- and lower-income families are pulling back. They’re facing tightening budgets, higher living costs, declining real wages, and a raft of corporate layoffs.
The consequent divergence in spending—with a smaller group of people keeping the economy going—is fueling concerns that the US economy is becoming more fragile.
With the economy so dependent on the richest 10%—who in turn are highly dependent on the stock market—a stock market downturn would raise risk of a serious recession.
The Trump economy is truly sh*tty for most Americans. Every time Trump or his lapdogs in Congress tell Americans that the economy is terrific, they seem more out of touch with reality.
Democrats need to show America that they can be better trusted to bring prices down and real wages up.
This means, in my view, promising the following 10 things. These should constitute the Democrats’ pledge to America:
The plight of Peru's native bees shines a light on the interconnecting challenges in food production and nature, deforestation, monoculture, and agrochemicals.
When I travel to Belém for COP30, I won’t be following the intricacies of climate negotiations or tracking the high-level plenaries. I’m going to use my time there to talk about native bees. And how paying attention to them opens up a world of interconnections between our food, climate, and biodiversity, and why agrochemicals are at the heart of their decline.
I'm a Quechua-speaking descendant of InKawasi, a community in the northern Andes of Lambayeque, Peru. I am a chemical engineer, ecopreneur, keeper of native bees, and environmental activist, and over my lifetime, I’ve seen my mountain ecosystem collapse, and with it our native bees.
Bees are far more than cute and charismatic; they are keystone species, pivotal in food production and ecology, especially as three-quarters of the world’s crops depend on pollinators like bees. When bees suffer, so do we. This sums up the importance of the Quechua saying, "Sumak Kawsay," which means "a plentiful life, in harmony with nature," and that’s why I’ve named my honey enterprise after it.
Where I live, our native bees are stingless and produce much smaller quantities of honey, which has been long used and valued by Indigenous communities for its medicinal properties.
As much as we need local, bottom-up initiatives, our governments and decision-makers must implement policies to address the negative impact of agrochemicals and their contribution to the climate crisis, loss of species and biodiversity, and adverse health effects.
This honey has been a powerful force in my own life. When I felt I had lost my path after studying engineering, an Indigenous healer fed me a spoonful of stingless bee honey at a ceremony. It was in that moment that I knew I had to work on restoring these bees and my mountain. I soon learned the fate of both is intrinsically connected.
Unlike the honeybees that came from Europe, these are especially adapted to pollinate endemic trees, plants, and crops. Without them, the extinction of our native species hangs in the balance—and farmers’ crops suffer.
But farming itself is driving their drastic decline: Forests have been cut down to make way for coffee, cassava, corn, and sugar monocultures—toppling the ancient, hollow grandfather trees in which they make their hives. Where there are fewer trees, there is less water, and my mountain has become desolate. As natural biodiversity that regulates pests disappears, farmers began to use pesticides to kill weeds and increase yields, damaging insect and plant life even more, including our native bees.
Research by the Center for Biological Diversity found that 40% of global pollinators are highly threatened due to intensive farming and pesticide use. In Latin America, 25% fewer bee species were reported in 2015 compared with 1990. This is a vicious cycle happening all over the world, especially in the Amazon, where COP30 is taking place.
Seven years since my realization, my enterprise works to protect native bees, restore their habitats, protect forests, and empower women. We’ve set up a honey social enterprise and pollination school, the "Women Guardians of the Native Bees" program, launched this year to empower 60 Quechua and peasant women through stingless beekeeping, encouraging local farmers and women to protect bees, collect their honey, and recognize the crucial role of pollinators in food production and nature restoration. The focus on bees is about much more than just the honey; it’s a gateway to a wider understanding of the natural world and the cycle of restoration, renewal, and preservation.
I run workshops with local farmers and communities to raise awareness about the dangers of pesticides and encourage learning of agroecological approaches to tackle pests instead of toxic chemicals. This is ancestral knowledge; our parents and grandparents have it, but we’ve lost it with the introduction of industrially produced agrochemicals. Instead, it’s about observing nature and re-instilling a curiosity about how beings interact—what pesticides do to habitats and ecology, and how introducing native species can have domino effects.
We teach them how to create habitats and nests for bees and how to collect their honey, treasured for its lower sugar content and medicinal properties. This bit is crucial. We buy their honey at a fair price if they commit to agroecological practices. These producers and farms now form the "La Ruta de la Miel de Abeja" (The Bee Honey Route) that we’ve built with local women who take tourists to connect with bees, nature, and communities.
The snowball effect is immense; it encourages farmers to stop using pesticides and restore the habitat for bees, generates income for women, and funds our mountain restoration. We have now planted more than 2,000 native trees and are preserving three species of stingless bees. We have a long way to go, but it is the rebirth of our mountain ecosystem.
It also proves that Sumak Kawsay—living in harmony with nature—is possible.
So when I am at COP30 in Belém, this is the message I will carry. I’ll do what I know best: use bees as a way to shine a light on the interconnecting challenges in food production and nature, deforestation, monoculture, and agrochemicals. We have Indigenous solutions available, like our pollination schools and honey cooperatives, but we need more resources to scale them up and empower farmers.
But as much as we need local, bottom-up initiatives, our governments and decision-makers must implement policies to address the negative impact of agrochemicals and their contribution to the climate crisis, loss of species and biodiversity, and adverse health effects. We need resources and support for food producers, farm workers, and communities to break the stranglehold of agrochemicals and shift to agroecology. It must be a Just Transition that provides us with the social and economic mechanisms to adapt to this change.
While I am at COP30, I will say enough is enough. We need to phase out toxic agrochemicals and restore the balance between people, food, climate, and nature.
As the government reopens, millions will still lose access to food assistance starting almost immediately due to policy changes in the GOP's "Big Beautiful Bill."
The roughly 42 million Americans who rely on food stamps did not receive their November 1 Supplemental Nutrition Assistance Program benefits as the government shutdown dragged on. The missed payments came just as the holiday season began, leaving many families struggling to put food on the table. Lines at food banks backed up traffic across the country.
The Trump administration defied federal court orders to restore full funding to the program before the Supreme Court’s conservative majority temporarily green-lit the freeze. The White House even tried to claw back funding from states that had already distributed it to hungry families.
Lawmakers have now negotiated an end to the shutdown. But the threat to the nation’s primary nutrition assistance program, SNAP, is far from over. As the government reopens, millions will still lose access to food assistance starting almost immediately.
The GOP’s “Big Beautiful Bill,” passed earlier this year, guts core safety net programs to fund tax cuts for billionaires, mass deportation efforts, and bloated military spending. The GOP law includes the largest SNAP cuts in history, slashing our most important and effective anti-hunger program by roughly 20%.
We have the tools to fight hunger, and we must use them.
People in every state are at risk of losing their food benefits, according to the Center on Budget and Policy Priorities. One of the main ways the bill cuts SNAP is by expanding harsh and ineffective work requirements. These new rules will strip food assistance from millions of people, including children, seniors, veterans, and individuals with disabilities. According to the Congressional Budget Office, the change will cause 2.4 million people to lose benefits in an average month.
Those rules are now in effect, just as families prepare to celebrate Thanksgiving and the winter holidays.
Research shows such requirements have little effect on employment: Most working-age adults enrolled in these programs are already working, and those who are not employed often face high barriers such as caregiving responsibilities or health conditions. Instead, these requirements cause many people who should qualify for SNAP to lose benefits due to red tape and administrative error.
The GOP law also shifts SNAP costs onto states for the first time in the program’s history. This vital food program has always been fully federally funded, but the new budget will require states to take on a significant share of expenses. The unprecedented burden shift will likely lead many states to cut enrollees or even terminate food aid programs entirely for the first time since their inception, causing even more people to go hungry.
As the government resumes normal operations, the fight against hunger must continue. SNAP has long proven to be highly effective at reducing food insecurity and hunger, especially among children. We have the tools to fight hunger, and we must use them.
In the richest country in the world, no one should go hungry.
Job number one in rolling back the Golden Dome boondoggle is simply making it clear that no missile defense system will protect us in the event of a nuclear attack.
Kathryn Bigelow’s new nuclear thriller, A House of Dynamite, has been criticized by some experts for being unrealistic, most notably because it portrays an unlikely scenario in which an adversary chooses to attack the United States with just a single nuclear-armed missile. Such a move would, of course, leave the vast American nuclear arsenal largely intact and so invite a devastating response that would undoubtedly largely destroy the attacker’s nation. But the film is strikingly on target when it comes to one thing: its portrayal of the way one US missile interceptor after another misses its target, despite the confidence of most American war planners that they would be able to destroy any incoming nuclear warhead and save the day.
At one point in the film, a junior official points out that US interceptors have failed almost half their tests, and the secretary of defense responds by bellowing: “That’s what $50 billion buys us?”
In fact, the situation is far worse than that. We taxpayers, whether we know it or not, are betting on a house of dynamite, gambling on the idea that technology will save us in the event of a nuclear attack. The United States has, in fact, spent more than $350 billion on missile defenses since, more than four decades ago, President Ronald Reagan promised to create a leak-proof defense against incoming intercontinental ballistic missiles (ICBMs). Believe it or not, the Pentagon has yet to even conduct a realistic test of the system, which would involve attempting to intercept hundreds of warheads traveling at 1,500 miles per hour, surrounded by realistic decoys that would make it hard to even know which objects to target.
Laura Grego of the Union of Concerned Scientists has pointed out that the dream of a perfect missile defense—the very thing President Donald Trump has promised that his cherished new “Golden Dome” system will be—is a “fantasy” of the first order, and that “missile defenses are not a useful or long-term strategy for defending the United States from nuclear weapons.”
Trump’s pledge to fund contractors to build a viable Golden Dome system in three years is PR or perhaps PF (presidential fantasy), not realistic planning.
Grego is hardly alone in her assessment. A March 2025 report by the American Physical Society found that “creating a reliable and effective defense against even [a] small number of relatively unsophisticated nuclear-armed ICBMs remains a daunting challenge.” Its report also notes that “few of the main challenges involved in developing and deploying a reliable and effective missile defense have been solved, and… many of the hard problems we identified are likely to remain so during and probably beyond” the 15-year time horizon envisioned in their study.
Despite the evidence that it will do next to nothing to defend us, President Trump remains all in on the Golden Dome project. Perhaps what he really has in mind, however, has little to do with actually defending us. So far, Golden Dome seems like a marketing concept designed to enrich arms contractors and burnish Trump’s image rather than a carefully thought-out defense program.
Contrary to both logic and history, Trump has claimed that his supposedly leak-proof system can be produced in a mere three years for $175 billion. While that’s a serious chunk of change, analysts in the field suggest that the cost is likely to be astronomically higher and that the president’s proposed timeline is, politely put, wildly optimistic. Todd Harrison, a respected Pentagon budget analyst currently based at the conservative American Enterprise Institute, estimates that such a system would cost somewhere between $252 billion and $3.6 trillion over 20 years, depending on its design. Harrison’s high-end estimate is more than 20 times the off-hand price tossed out by President Trump.
As for the president’s proposed timeline of three years, it’s wildly out of line with the Pentagon’s experience with other major systems it’s developed. More than three decades after it was proposed as a possible next-generation fighter jet (under the moniker Joint Strike Fighter, or JSF), for example, the F-35, once touted as a “revolution in military procurement,” is still plagued by hundreds of defects, and the planes spend almost half their time in hangars for repair and maintenance.
Proponents of the Golden Dome project argue that it’s now feasible because of new technologies being developed in Silicon Valley, from artificial intelligence to quantum computing. Those claims are, of course, unproven, and past experience suggests that there is no miracle technological solution to complex security threats. AI-driven weapons may be quicker to locate and destroy targets and capable of coordinating complex responses like swarms of drones. But there is no evidence that AI can help solve the problem of blocking hundreds of fast-flying warheads embedded in a cloud of decoys. Worse yet, a missile defense system needs to work perfectly each and every time if it is to provide leak-proof protection against a nuclear catastrophe, an inconceivable standard in the real world of weaponry and defensive systems.
Of course, the weapons contractors salivating at the prospect of a monstrous payday tied to the development of Golden Dome are well aware that the president’s timeline will be quite literally unmeetable. Lockheed Martin has optimistically suggested that it should be able to perform the first test of a space-based interceptor in 2028, three years from now. And such space-based interceptors have been suggested as a central element of the Golden Dome system. In other words, Trump’s pledge to fund contractors to build a viable Golden Dome system in three years is PR or perhaps PF (presidential fantasy), not realistic planning.
The major contractors for Golden Dome may not be revealed for a few months, but we already know enough to be able to take an educated guess about which companies are likely to play central roles in the program.
The administration has said that Golden Dome will be built on existing hardware and the biggest current producers of missile defense hardware are Lockheed Martin, Boeing, and Raytheon (a major part of RTX Corporation). So, count on at least two of the three of them. Emerging military tech firms like SpaceX and Anduril have also been mentioned as possible system integrators. In other words, one or more of them would help coordinate development of the Golden Dome and provide detection and targeting software for it. The final choice for such an extremely lucrative role is less than certain, but as of now Anduril seems to have an inside track.
Even after the breakup of the Donald Trump-Elon Musk bromance, the tech industry still has a strong influence over the administration, starting with Vice President JD Vance. He was, after all, employed and mentored by Peter Thiel of Palantir, the godfather of the recent surge of military research and financing in Silicon Valley. Thiel was also a major donor to his successful 2022 Senate campaign, and Vance was charged with fundraising in Silicon Valley during the 2024 presidential campaign. Emerging military tech moguls like Thiel and Palmer Luckey, along with their financiers like Marc Andreessen of the venture capital firm Andreessen Horowitz, view Vance as their man in the White House.
Should the Golden Dome system indeed be launched (at a staggering cost to the American taxpayer), its “gold” would further enrich already well-heeled weapons contractors, give us a false sense of security, and let Donald Trump pose as this country’s greatest defender ever.
Other military tech supporters in the Trump administration include Deputy Secretary of Defense Stephen Feinberg, whose company, Cerberus Capital, has a long history of investing in military contractors and is already pressing to reduce regulations on weapons firms in line with Silicon Valley’s wish list; Michael Obadal, a senior director at the military tech firm Anduril, who is now deputy secretary of the Army; Gregory Barbaccia, the former head of intelligence and investigations at Palantir, who is now the federal government’s chief information officer; Undersecretary of State Jacob Helberg, a former executive at Palantir; and numerous key members of Elon Musk’s Department of Government Efficiency, which took a wrecking ball to civilian bodies like the US Agency for International Development while sparing the Pentagon significant cuts.
Some analysts foresee a funding fight in the offing between those Silicon Valley military tech firms and the Big Five firms (Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, and RTX) that now dominate Pentagon contracting. But the Golden Dome project will have room for major players from both factions and may prove one area where the old guard and the Silicon Valley military tech crew join hands to lobby for maximum funding.
The nation’s premier defense firms and missile manufacturers will likely enjoy direct access to Golden Dome, since the project is expected to be headquartered in Huntsville, Alabama, the “Pentagon of the South.” That self-described “Rocket City” houses the US Missile Defense Agency and a myriad of defense firms (including Lockheed Martin, RTX, General Dynamics, and Boeing). It will also soon host the new Space Force headquarters.
While Huntsville has been a hub for missile defense since President Ronald Reagan’s failed ICBM defense efforts, what makes this placement particularly likely is the significance of Huntsville’s Republican representatives in Congress, particularly Rep. Dale Strong. “North Alabama has played a key role in every former and current US missile defense program and will undoubtedly be pivotal to the success of Golden Dome,” he explained, having received $337,600 in campaign contributions from the defense sector during the 2023-2024 election cycle and cofounded the House Golden Dome Caucus.
His advocacy for the project dovetails well with the power vested in House Armed Services Committee Chairman Mike Rogers (also from Alabama), who received $535,000 from the defense sector during the 2024 campaign. Sen. Tommy Tuberville, a senior member of the Senate Armed Services Committee, and Sen. Katie Boyd Britt, a member of the Senate Golden Dome Caucus, round out Alabama’s Republican Senate delegation.
Many of the leading boosters of the Golden Dome represent states like Alabama or districts that stand to benefit from the program. The bicameral congressional Golden Dome caucuses include numerous members from states already enmeshed in missile production, including North Dakota and Montana, which house ICBMs built and maintained by Northrop Grumman and Lockheed Martin, among other companies.
Those same weapons companies have long been donating generously to political campaigns. And only recently, to curry favor and prove themselves worthy of Golden Dome’s lucrative contracts, Palantir and Booz Allen Hamilton joined Lockheed Martin in donating millions of dollars to President Trump’s new ballroom that is to replace the White House’s devastated East Wing. And expect further public displays of financial affection from arms companies awaiting the administration’s final verdict on Golden Dome contracts, which will likely be announced in early 2026.
Golden Dome is already slated to receive nearly $40 billion in the next year when funds from President Trump’s “big beautiful bill” and the administration’s budget request for Fiscal Year 2026 are taken into account. The 2026 request for Golden Dome is more than twice the budget of the Centers for Disease Control and Prevention and three times the budget of the Environmental Protection Agency, essential pillars of any effort to prevent new pandemics or address the challenges of the climate crisis. In addition, Golden Dome will undoubtedly siphon into the military sector significant numbers of scientists and engineers who might otherwise be trying to solve environmental and public health problems, undermining this country’s ability to deal with the greatest threats to our lives and livelihoods to fund a defense system that will never actually be able to defend us.
Worse yet, Golden Dome is likely to be more than just a waste of money. It could also accelerate the nuclear arms race between the US, Russia, and China. If, as is often the case, US adversaries prepare for worst-case scenarios, they are likely to make their plans based on the idea that Golden Dome just might work, which means they’ll increase their offensive forces to ensure that, in a nuclear confrontation, they are able to overwhelm any new missile defense network. It was precisely this sort of offensive-defensive arms race that the Anti-Ballistic Missile Treaty of the era of President Richard Nixon was designed to prevent. That agreement was, however, abandoned by President George W. Bush.
A no less dangerous aspect of any future involving the Golden Dome would be the creation of a new set of space-based interceptors as an integral part of the system. An interceptor in space may not actually be able to block a barrage of nuclear warheads, but it would definitely be capable of taking out civilian and military satellites, which travel in predictable orbits. If the unspoken agreement not to attack such satellites were ever to be lifted, basic functions of the global economy (not to speak of the US military) would be at risk. Not only could attacks on satellites bring the global economy to a grinding halt, but they could also spark a spiral of escalation that might, in the end, lead to the use of nuclear weapons.
Should the Golden Dome system indeed be launched (at a staggering cost to the American taxpayer), its “gold” would further enrich already well-heeled weapons contractors, give us a false sense of security, and let Donald Trump pose as this country’s greatest defender ever. Sadly, fantasies die hard, so job number one in rolling back the Golden Dome boondoggle is simply making it clear that no missile defense system will protect us in the event of a nuclear attack, a point made well by A House of Dynamite. The question is: Can our policymakers be as realistic in their assessment of missile defense as the makers of a major Hollywood movie? Or is that simply too much to ask?