Donald Trump has enacted seismic changes, but mostly he has failed to deliver on his critical pledges to “Make America Wealthy Again.”
Wednesday will mark President Donald Trump’s 100th day in office in his second term. It’s a traditional point at which Americans assess how well an administration is delivering on its promises. Trump has enacted seismic changes, but mostly he has failed to deliver on his critical pledges to “Make America Wealthy Again.”
Polls around Election Day showed that two issues propelled Trump to victory over then-Vice President Kamala Harris: The economy and immigration.
Trump promised American consumers relief from soaring costs, especially at the grocery store. Yet prices remain high. Inflation was declining by Election Day from the dismayingly high rates in the middle of President Joe Biden’s term, but they remained stubbornly elevated.
Turn the clock forward from Jan. 20, and Trump’s tariffs are having an inflationary effect on consumer goods. Much of what Americans buy comes from other countries or is made with parts and materials from other countries. If companies must pay more to bring goods into the country, they will pass that cost on to shoppers. Domestic producers will inflate their prices, too, as the market dictates.
Stock and bond markets have reacted negatively to Trump’s tariffs. Markets fell precipitously from February highs and, despite some rallying last week, remain down. Retirees and anyone else with a retirement plan have watched their savings wither by 5%, 10%, even 20% as leading indexes faltered.
On the plus side, the unemployment rate has remained relatively stable. However, economists warn that if tariff disputes drag on, economic growth could falter or even fall into recession.
Trump’s aggressive immigration policies are also affecting the economy. With illegal border crossings down and deportations up, an environment of fear pervades immigrant communities. In such an environment, undocumented workers are less likely to show up. Agriculture, construction and other critical sectors will feel the labor shortage first, again inflating costs and depressing economic output.
None of this matches Trump’s optimistic campaign promises, and his approval rating is beginning to show it. The president never had support among Democrats, but polling shows that independents and even Republicans are souring. Only about 4 in 10 Americans approve of Trump’s handling of the economy.
Exacerbating everything is the fact that so many other issues are distracting Trump from his most important job of creating a robust, stable economy. He signs executive orders of dubious legal merit almost daily and shows contempt for the judiciary. He pursues vendettas against political adversaries. He undoes diversity initiatives and targets the Republican bogeyman of LGBTQ+ rights. He rolls back environmental and labor policies. And he threatens schools.
Any president would be fortunate to make progress — if “progress” is even the right word — in one or two chosen policy areas during the first 100 days. Trump is failing to make meaningful change on any of them as he flits from topic to topic, unmoored from a coherent approach to governance.
As Trump nears his 100th day in office, a strengthened economy and improved financial stability remain far off. If anything, his economic accomplishment has been to derail the rebound that was already underway under his predecessor.
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