The White House told House and Senate Republicans, nervous about the economy and the midterm elections, to hang on because prosperity was upon us and a better economy would carry them to victory in November.
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The idea that the economy would improve before the midterms was floated before this president saw his reciprocal tariffs thrown out by the Supreme Court, and responded by replacing them with a new tariff that will also likely be deemed illegal.
Trump followed up the tariffs with a new Middle East war with Iran, which has already caused rising gasoline prices and supply chain disruptions, and the war will soon impact food prices.
Then came the new jobs report, which was disastrous.
CNBC reported:
Nonfarm payrolls fell by 92,000 for the month, compared with the estimate of 50,000 and below the downwardly revised total of 126,000 in January. February marked the third time in the past five months that payrolls fell, following a sharp revision showing a decline of 17,000 in December.
At the same time, the unemployment rate rose slightly to 4.4%, as employment fell in key areas. A broader measure of unemployment, which includes discouraged workers and those in part-time positions for economic reasons, fell, to 7.9%, 0.2 percentage points below the January level.
The situation is bad and only getting worse by the day, which is terrible news for the Republicans.
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