Feasible Cost of Living Reduction
Today, in “Democrats Promised to Fix the Economy. What Can They Really Do?” (WSJ), Grossman, Whalen and Bade argue that Democrats can do very little to lower the cost of living. Whether they can [make the economy work] isn’t assured, despite the party’s pending control of the House and Senate. Many demands are beyond the reach […]
In the article "Democrats Promised to Fix the Economy. What Can They Really Do?" (WSJ), Grossman, Whalen and Bade assert that Democrats have limited capability to reduce the cost of living. Despite Democrats gaining control of the House and Senate, they acknowledge that their main tools, taxes and spending, are slow-moving and subject to President Trump's veto.
The ongoing war in Iran has contributed to high energy prices, including gasoline, which are largely influenced by global energy markets. Even if the war concludes, gas prices may persist at elevated levels. In the Senate, Democrats aim to repeal Trump's tariffs on Canada, a component of his global trade conflict. However, they recognize that such a repeal, which involves tightening presidential tariff authority, could be overruled by Trump and would likely have to wait for a new administration.
The article suggests that Congress may attempt to influence the administration regarding tariffs, a widely unpopular and potentially legally contentious policy. However, the author expresses uncertainty about Congress' effectiveness in addressing the administration's anti-immigration measures and resolving the Strait of Hormuz situation.
Written by urgent.news from Econbrowser's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
