The headline from Wednesday’s New York Times,
Recession Warnings Are Everywhere, Except in the Data.
Mainstream measures have been slow to detect the impact of tariffs and uncertainty.
They have searched high and low to locate the Trump recession that they know should, with certainty, be there. It must be there. If only they could torture the data enough to make it confess.
Alas, the search continues. But they have a found a recession in the one place that you want it to be. From today’s Washington Post,
D.C.-area economy starts to show deep impacts of federal spending cuts.
So DOGE is working, after all. The Washington Post continues,
The D.C. region’s economy is teetering on the edge of a painful slump, experts warn, as the Trump administration’s spending cuts, including the elimination of thousands of federal jobs, take their toll on an area that was already struggling to recover from the impacts of the pandemic.
We can only hope that the above is true. According to the Post, unemployment is up and bond ratings are down. I must say, despite (or because of) my living in the D.C. area for many years, I have zero sympathy for the current plight of its inhabitants.
The city that drove America into a $37 trillion debt has been living large the whole time. If the Capital region wants to do better for themselves, they need to do better for the rest of us.
Meanwhile, Trump’s approval rating in Rasmussen inched up, continuing the unbroken streak in positive territory for the month of May.
