Trump Economy

President Donald Trump has announced an historic multi-billion-dollar deal with Saudi Arabia. The deal will result in U.S. firms being contracted to help the Saudis build a nuclear power plant. Critics warn the Saudis will develop a nuclear arms program through the civil program the U.S. will help it build.

Trump Seals Saudi Nuclear Pact, Handing Russia and China a Defeat › American Greatness amgreatness.com
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President Donald Trump has signed off on a sweeping 30-year civil nuclear agreement with Saudi Arabia, a deal administration officials say will lock American companies into the kingdom’s energy future and keep Moscow and Beijing on the sidelines.

Energy Secretary Chris Wright is expected to formally sign the accord alongside Saudi Energy Minister Prince Abdulaziz bin Salman, capping months of negotiations that began during Wright’s first foreign trip to the region in April 2025. The pact, valued at tens of billions of dollars, still must clear a congressional review period before taking effect.

Under the agreement, U.S. firms, led by Westinghouse Electric and its AP1000 reactor capable of powering a midsize city or a large artificial-intelligence data center, would build out Saudi Arabia’s nuclear infrastructure. A joint two-year study will examine whether the kingdom should eventually host its own uranium-enrichment facility, built and operated by American companies under a tightly controlled “black box” structure meant to keep sensitive technology out of Saudi hands. If Washington decides against enrichment, Riyadh would be barred from pursuing it alone or with another country for a decade.

Trump’s Saudi nuclear deal risks destabilizing the Middle East www.washingtonexaminer.com
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The United States has reached a historic agreement that will support Saudi Arabia’s ability to enrich uranium on its own soil without the stringent safeguards traditionally required under U.S. nuclear cooperation agreements. The deal was first reported by the Wall Street Journal. Under the terms of the agreement, Washington will seek to ensure the program remains focused on civilian purposes by retaining influence over key aspects of Riyadh’s nuclear infrastructure.

What makes the deal truly significant is Trump’s decision to decouple it from Saudi-Israeli normalization efforts. The Biden administration had tied any prospective nuclear agreement to Riyadh joining the Abraham Accords, before Oct. 7, 2023, derailed those efforts. Today, however, the regional security environment has fundamentally changed. The war between the United States and Iran has demonstrated that Gulf states are no longer bystanders but potential targets of Iranian retaliation. But this comes with added risk of regional escalation.

Should Riyadh eventually pursue a military nuclear capability, for example, Israel’s strategic position in the region would be significantly weakened. As the Middle East’s only nuclear power, Israel enjoys a unique deterrent advantage, providing it with considerable leverage over regional adversaries. Preserving that advantage was one of the principal reasons previous U.S. administrations linked Saudi nuclear cooperation to normalization with Israel.

North Carolina has released a report that reveals over 300,000 people in the state have defaulted on their student loans. This amounts to billions of dollars owed. Nationally, one in five student loan borrowers are in default.

Almost 300,000 North Carolina College Borrowers are in Default, Owing Billions legalinsurrection.com
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This is probably true in multiple states. Imagine the numbers for California.

Nearly 300,000 North Carolina college-goers are in default, owing billions in student loans

Nearly 300,000 North Carolina college-goers have defaulted on their federal student loans, collectively owing $7.8 billion, data analyzed by the Associated Press shows.

About half of those people, owing an average of $26,500, have gone into default just since last September.

Since then, federal policies on student loans have changed and some repayment options are gone or about to go away. At the same time, the number of federal employees working on students loans has been slashed, noted Julia Barnard, a former ombuds for the Consumer Financial Protection Bureau. Record complaints have come in, and many borrowers are being given varying information about how much they actually owe, Barnard told WRAL News.

That, paired with affordability issues more broadly, lead Barnard and other experts to project the numbers will only grow.

“It’s going to get a lot worse before it gets better,” Barnard said.

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For decades, video games have been a go-to hobby for Alyx Green. But in recent years, Green has felt priced out.

Instead of buying the biggest releases, the Illinois graduate student has opted for cheaper alternatives from smaller studios or turned to board and card games. In some cases, the 31-year-old watches videos of others playing hot games on YouTube in lieu of actually playing.

“The price has been going up,” Green said. “It’s just hard to keep up.”

U.S. consumers have for years grappled with “funflation,” used to describe the sharply higher prices for live experiences like concerts or sporting events that were halted during pandemic lockdowns.

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U.S. Trade Representative Jamieson Greer confirmed that the Trump administration will not renew the U.S.-Mexico-Canada Agreement (USMCA) trade agreement in its current form after a joint review.

The USMCA replaced NAFTA during President Donald Trump’s first term.

“The United States will continue to engage with Mexico and Canada to address the Agreement’s shortcomings and our trade deficits with these countries,” announced Greer. “However, the Agreement remains in force pending resolution of these issues or until the Agreement’s termination.”

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Congress has passed “the largest housing bill in decades” on Tuesday. Today’s show breaks down how this might help Americans.

“This is a step in the right direction. Now and then, you have people who listen,” Crowder said.

One of the most important points in this bill is that it bans investors from buying up single-family homes.

According to AHF:

Passed by the Senate a day earlier, the 21st Century ROAD to Housing Act brings together a wide range of provisions aimed at making housing more affordable and encouraging housing construction.

The final version of the bill contains key priorities for the affordable housing industry, including raising the public welfare investment (PWI) cap from 15% to 20%. This opens the door to banks increasing their investments in affordable housing.

One of the most debated points was around banning institutional investors from buying single-family homes. While the final version includes restrictions on institutional investor buyers, it removes some of the language that would have limited the development of build-to-rent properties, according to housing advocates.

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The House appeared poised Tuesday to pass Congress’ most significant housing legislation in decades — a bid by both parties to show midterm voters that they’re paying attention to affordability concerns ahead of November’s election.

The legislation, which the Senate passed Monday, aims to boost the housing supply through dozens of targeted provisions whose effects are expected to be seen over the next several years. In California, measures to provide federal funding for housing production in big cities could be particularly significant.

The bipartisan agreement over the legislation, after weeks of negotiation, marks a highly unusual collaboration in the divided Congress. It reflects growing public pressure on Washington to address economic issues, at a time when Americans’ economic woes are deepening amid inflation, elevated gas prices and the ongoing effects of President Trump’s tariffs.

The bill aims to help housing supply by removing regulatory barriers to building affordable housing units, preventing large investors from buying up single-family homes and incentivizing housing production in cities with federal funding, among other measures.

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FIRST ON THE DAILY SIGNAL—In an effort to beef up America’s manufacturing and reduce reliance on foreign companies, the Export-Import Bank, a federal credit agency, is unveiling a new loan opportunity for manufacturers.

Specifically, the bank is now “offering lender guarantees of up to 90% on equipment loans and operating leases” to American small and medium-sized manufacturers, a move it says will accelerate “the reindustrialization of America.

The bank, which was established in 1934, seeks to provide financing for American exporters to give them a competitive advantage.

The announcement of the initiative comes after the National Security Council—which advises the president on military and foreign policy—held a round table discussion Monday with the heads of EXIM, the Department of Commerce, and the Small Business Administration on the topic of reindustrialization.

“For too long, the United States has relied on foreign production of machine tools and manufacturing machines,” reads an EXIM document explaining the project.

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The traditional single-income family once familiar in American culture has continued to decrease.

A new analysis from the Pew Research Center has found that for the first time in American history, a majority of households with children now have two full-time working parents. According to 2025 Census Bureau data, 52 percent of married or partnered couples raising children under 18 both work full-time jobs.

The traditional single-income family once familiar in American culture has continued to decrease, with just a quarter of households now consisting of a father working full-time while the mother remains at home. Meanwhile, families increasingly depend on two incomes to maintain a middle-class lifestyle. Under former President Joe Biden, inflation surged to levels not seen in decades. The Consumer Price Index peaked at 9.1 percent in June 2022, the highest rate in more than 40 years. While inflation eventually slowed under the current Trump administration, prices never returned to pre-pandemic levels, leaving families dealing with higher costs for housing, food, energy, insurance, childcare, and transportation.

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The national average price for regular gas dropped again on Thursday, falling below the $4-per-gallon threshold to $3.999, according to AAA. It marked the fourth straight week that gas prices in the country have decreased. Fuel costs have dropped 52 cents per gallon over the last month. Thursday’s gas price decrease comes the day after the United States and Iran signed a memorandum of understanding to end their military conflict and reopen the Strait of Hormuz.

It is the first time the national average price for a gallon of regular gas has been below $4 since March 30. Gas prices began to drop across the country shortly after Memorial Day weekend, traditionally recognized as the start of the summer driving season, which usually correlates with higher prices at the pump. A few days earlier, gas prices reached $4.564 per gallon on May 21, a record high price for 2026, and the most expensive national average gas price in the U.S. since 2022. It was also the highest gas price since President Donald Trump took office in either term.

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Wall Street’s major indexes ended sharply higher on Thursday, with stocks extending gains after U.S. President Donald Trump said he canceled planned strikes against Iran, and on the eve of the market debut of Elon Musk’s SpaceX.

Hours before the expected strikes, ‌Trump said ⁠on Truth Social ⁠that negotiations with Tehran had advanced to the highest levels of Iran’s leadership and had been okayed by a broad coalition of regional powers.

Oil prices dropped sharply, while stocks added to their rebound from the prior session’s selloff. On Wednesday, major Wall Street indexes fell more than 1% and the S&P 500 Technology Index confirmed a correction.

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Washington — President Trump on Wednesday applauded the latest inflation spike, saying the numbers are  “great” and “I love the inflation” because the U.S. “taking out” what he called “millions” of barrels of Iranian oil in the dead of night. The president added that he’s “just announcing today for the first time” that the U.S. is seizing Iranian oil.

Once the conflict is over, Mr. Trump said oil prices and inflation will drop rapidly. A reporter asked the president in the Oval Office Wednesday if he’s concerned that the Consumer Price Index rose at an annual rate of 4.2%, up from 3.8% in the prior month and marking the highest level since April 2023. The new inflation numbers were released earlier Wednesday.

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WASHINGTON — Spiking gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near.

Consumer prices rose 4.2% in May from a year earlier, the Labor Department said Wednesday, up from 3.8% in April and the third straight increase. On a monthly basis, prices rose 0.5% last month, after big gains of 0.6% in April and 0.9% in March.

Rising inflation has soured many Americans on the economy, as the cost of gas, groceries, and other necessities hammer many Americans financially.

Excluding the volatile food and energy categories, core prices rose 2.9% in March from a year earlier, up from 2.8% in April. On a monthly basis, core prices increased a modest 0.2%.

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Los Angeles’ hotel industry is losing jobs at its fastest pace in a decade outside of the pandemic, raising fresh concerns about the economic fallout from some of the most aggressive minimum wage mandates in the nation.

A new analysis of federal labor data found that Los Angeles County hotels and motels saw their workforce shrink by 1.7% in December 2025 compared to the same month a year earlier, as businesses grappled with rapidly rising labor costs imposed by city and county officials.

The decline comes as Los Angeles prepares to host a series of major international events, including the 2028 Summer Olympics, while hotel operators warn that mounting costs are threatening the industry’s ability to expand and meet future demand.

Wage Mandates Coincide with Sharp Employment Decline

According to an analysis by the Employment Policies Institute (EPI) of newly released U.S. Bureau of Labor Statistics data, the contraction represents the steepest year-over-year decline in Los Angeles County’s hotel industry in a decade, excluding pandemic-related disruptions.

The losses followed a series of government-mandated wage increases.

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WASHINGTON — The world is getting more uptight about lending money to President Donald Trump’s government — causing interest rates to climb in ways that are worsening affordability pressures, hampering economic growth and creating a new risk for Republicans in November’s midterm elections.

The energy price spike triggered by the Iran war has seeped into the price of bonds that help fund the U.S. government. Interest rates on a 10-year U.S. Treasury note are topping 4.44%, up from 3.95% before the war started at the end of February. Average mortgage rates have climbed to their highest levels in nine months, while auto sales are slumping.

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The national average price for regular gas continued to fall on Friday, dropping to $4.391 per gallon, a 16-cent decrease over the past week, according to AAA.

Gas prices have trended downward since setting a high for the year on May 21 at $4.564 per gallon. Moreover, fuel costs have dropped every day this week, starting at $4.507 per gallon on Monday, Memorial Day, dropping to Friday’s current price point, an 11-cent drop in less than 100 hours. The decrease in fuel costs comes at a time when gas prices start to rise, after Memorial Day and the beginning of what is recognized as the summer driving season.

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Americans are saving less money than they have in nearly four years as rising living costs strain household finances and force many families to rely increasingly on credit cards and debt to get by.

The personal saving rate dropped to 2.6 percent in April, according to new Commerce Department data, marking the lowest level since June 2022 and a steep decline from the 5.5 percent rate recorded one year earlier.

The savings rate measures the share of disposable income households set aside rather than spend.

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Inflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed.

The personal consumption expenditures price index increased a seasonally adjusted 0.4% for the month, putting the 12-month inflation rate at 3.8%, the Commerce Department reported. Economists surveyed by Dow Jones had been looking for respective readings of 0.5% and 3.8%.

Excluding food and energy, core prices rose 0.2% for the month and 3.3% for the year, against estimates of 0.3% and 3.3%.

While the annual rates were in line with forecasts, the soft monthly readings could provide some hope that the burst in prices over the previous month had begun to ease.

The Fed takes in a wide dashboard of indicators, but uses the PCE measures as its prime forecasting and policy tool. Officials generally consider core a better indicator of long-term inflation trends as it excludes the volatile gas and groceries components.

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“With supplies highly constrained, if shipping through the strait does not soon return to prewar levels, world oil and natural gas consumption could need to fall more meaningfully than it has so far,” Logan said. “The economic consequences would depend on the degree to which end users can switch to other energy sources or use energy more efficiently, versus curtailing economic activity.”

 

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During a White House small business summit, President Donald Trump said the economy is strong and his policies are satisfying Americans.

“Consumer confidence is way up,” Trump said at the May 4 event.

Three standard measurements of consumer satisfaction — from the University of Michigan; a business group called the Conference Board; and an aggregation of public polling data — show the opposite. They reveal that people are less satisfied with the economy now than at the end of President Joe Biden’s tenure, and at least one of the metrics puts consumer confidence near an all-time low.

The White House pointed to retail spending data to support his statement, but that isn’t a clear-cut measure of consumer confidence when other economic factors are at play.

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President Donald Trump and Republicans are hoping to cash in politically on the extra amount of cash in Americans’ wallets this Tax Day.

Across the country, Americans are cashing in on the One Big Beautiful Bill Act’s tax provisions and receiving a boost from real wage growth in the Trump economy.

“This tax season, nearly half of all filers have claimed tax cuts that every single congressional Democrat voted against,” House Majority Whip Tom Emmer, R-Minn., told The Daily Signal.

The financial relief from the One Big Beautiful Bill Act, now commonly referred to as the Working Families Tax Cuts by Republicans in Congress, has become a major talking point for the GOP in recent months, as the party argues that strong economic fundamentals have helped soften the economic impact of the war in Iran.