President Trump’s Anti-Growth Agenda Is Harming Families
The post President Trump’s Anti-Growth Agenda Is Harming Families appeared on BitcoinEthereumNews.com. President Trump loves the phrase promises made, promises kept. Without a major course correction, the President will fail to keep one of his most important promises to the American public – restoring economic prosperity. A post-election analysis from CBS News noted that “two thirds of voters described the economy as bad, and those voters who did went big for Trump.” Voters trusted Trump over Harris because life had become unaffordable and future economic prospects seemed dim. And consistent with these perceptions, real median household income grew much faster during Trump’s first term than during the Biden era. Unfortunately, voters will be severely disappointed based on the policies President Trump is pursuing. There are many examples. Two of the more disconcerting are his obsession with tariffs and his constant berating of U.S. businesses. Starting with the latter, Trump’s targeting of the pharmaceutical industry that he consistently refers to as “Big PhRMA” is troubling – not only for its impact on a major economic anchor for the U.S. economy, but also the precedent it sets for other industries. As I have addressed previously, there are problems with the U.S. drug pricing system that need to be corrected. However, the solution is not threats of price controls. Yet, on July 31st the President “sent letters to leading pharmaceutical manufacturers outlining the steps they must take to bring down the prices of prescription drugs in the United States to match the lowest price offered in other developed nations.” Importantly, the President threatened the manufacturers “that if they ‘refuse to step up,’ the federal government ‘will deploy every tool in our arsenal’” to ensure that the President’s will is enforced. These threats are not so veiled references to Trump’s Most Favored Nation (MFN) proposal and higher tariffs on imported drugs. The MFN sets the price…
The post President Trump’s Anti-Growth Agenda Is Harming Families appeared on BitcoinEthereumNews.com.
President Trump loves the phrase promises made, promises kept. Without a major course correction, the President will fail to keep one of his most important promises to the American public – restoring economic prosperity. A post-election analysis from CBS News noted that “two thirds of voters described the economy as bad, and those voters who did went big for Trump.” Voters trusted Trump over Harris because life had become unaffordable and future economic prospects seemed dim. And consistent with these perceptions, real median household income grew much faster during Trump’s first term than during the Biden era. Unfortunately, voters will be severely disappointed based on the policies President Trump is pursuing. There are many examples. Two of the more disconcerting are his obsession with tariffs and his constant berating of U.S. businesses. Starting with the latter, Trump’s targeting of the pharmaceutical industry that he consistently refers to as “Big PhRMA” is troubling – not only for its impact on a major economic anchor for the U.S. economy, but also the precedent it sets for other industries. As I have addressed previously, there are problems with the U.S. drug pricing system that need to be corrected. However, the solution is not threats of price controls. Yet, on July 31st the President “sent letters to leading pharmaceutical manufacturers outlining the steps they must take to bring down the prices of prescription drugs in the United States to match the lowest price offered in other developed nations.” Importantly, the President threatened the manufacturers “that if they ‘refuse to step up,’ the federal government ‘will deploy every tool in our arsenal’” to ensure that the President’s will is enforced. These threats are not so veiled references to Trump’s Most Favored Nation (MFN) proposal and higher tariffs on imported drugs. The MFN sets the price…
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