AI Generated Image
Trump's tariff checks and $5,000 cash promise won't happen, economist says
Fox News • • nation
Key Points:
- Economist Douglas Holz-Eakin expressed skepticism about President Trump's recent promises of cash payments to Americans, including $5,000 checks if Republicans retain Congress, calling them unlikely to materialize due to legal and fiscal constraints.
- Holz-Eakin criticized previous Trump proposals such as the "DOGE checks" and tariff-related payments as unrealistic, noting the administration lacks authority to issue such checks and doubts the feasibility of $9,000 payments to stay-at-home mothers.
- He compared Trump’s fiscal policies unfavorably to those of the Biden administration, highlighting persistent inflation and stagnant wages as failures impacting the American middle class.
- Holz-Eakin supports the Federal Reserve's recent interest rate hikes aimed at controlling inflation, despite Trump's calls for rate cuts, and identified tariffs and geopolitical tensions as economic headwinds.
- Concerned about the nation’s $41 trillion debt and growing deficits, Holz-Eakin advocates for a return to traditional conservative fiscal discipline to reduce spending and avoid tax increases.
