But even as the bad news piles up, the Trump administration has decided to reassure panicked consumers with a chilling talking point: Poverty is good, actually.
Last month, as economists warned of the harm Trump’s tariff policies could cause, including drastically increasing the price of goods, Treasury Secretary Scott Bessent attempted to dismiss those concerns by insinuating that being able to afford things is not important to Americans.
“Access to cheap goods is not the essence of the American dream,” Bessent said to a crowd of economists.
It turns out this assertion was only the beginning of the Trump administration’s vision for a new American dream.
From Trump telling reporters that he’s not worried about empty stores to Commerce Secretary Howard Lutnick saying during an interview that in his version of America, multiple generations will work in the same factories, it sure seems like the Trump administration is trying to prime Americans for accepting and even enjoying a drastically lower standard of living.