Donald Trump’s Davos speech has caught attention for a myriad of reasons, but one part that has barely been mentioned is how he gloated about his “Big Beautiful Bill.” At one point, he joked that he was even walking around the forum congratulating business leaders for doubling their net worth since he became president. Coming at a time when 1 in 4 US households are living check to check, it reads as insensitive, to say the least.
CNN is calling the economy “stagnant.” Nobody is willing to quite jump the gun and call the current economic situation a “recession,” because that term has a mathematical definition that can bog down any conversation about a downturn. The fact remains that, according to a Bank of America Institute analysis, while the administration calls affordability a “hoax,” 24% of American households spend over 95% of their monthly income on household necessities.
