Facing growing public pessimism about his handling of the economy, US President Donald Trump has fired off a flurry of proposals to address consumer concerns.
Trump previously downplayed concerns about cost of living, insisting the outlook had improved during his nine months in office. He said affordability was a new word, and a con job by Democrats.
However, since his Republican Party's poor performance in recent elections, he has focused on the issue with urgency.
He proposes giving most Americans a $2,000 subsidy that would operate more like a rebate for federal revenue generated by tariffs on foreign imports, directing the rest to reduce the federal budget deficit.
But according to economists, tariff revenue is insufficient to fund this $2,000 plan, which could cost around $300 billion, thus requiring deficit financing.
Additionally, the proposal for 50-year mortgages aims to increase home ownership accessibility but has faced criticism as a measure that benefits lenders more than borrowers.
Trump's initiatives also include transforming government health insurance subsidies into direct cash payments, but legislative approval remains uncertain.
Despite some modest proposals, like investigations into beef prices and agreements with pharmaceutical companies, Trump's suggestions might not reflect the pressing economic challenges faced by many Americans.
As Trump attempts to recalibrate his policies and regain public trust, the efficacy and potential consequences of these proposals remain under scrutiny amidst a challenging political landscape.
