America’s ‘prosperity’ is built on broken families and debt



Ever since the COVID “Great Reset,” the American economy has functioned like a silent depression for two-thirds of households and most businesses. Washington pumped out biblical levels of spending and easy money, and a cycle of debt, high prices, and stagnation has crushed consumers.

Meanwhile, a handful of well-connected corporations — propped up by cheap credit, regulatory favors, and asset bubbles — keep the stock market afloat, creating the illusion of growth. The result is an economy that looks healthy on paper but feels like collapse on Main Street.

Enough. A nation cannot live on financial tricks and asset bubbles forever. Let the recession come.

The time has come to let it crash. No more bailouts. No more “too big to fail.” If we want a free-market recovery built on broad opportunity and wage-based wealth, we must let the bubbles burst.

The silent depression

Americans live under record-high prices for food, fuel, rent, and electricity. College graduates face the worst job market in decades. Payroll data shows just 1,494 new jobs were added in August — the weakest since the 2008 crash. Layoffs are up 38.5% this year.

For graduates, the outlook is even worse. Fortune reports that 58% of recent grads still can’t land a job or internship. Forty percent of the unemployed last year never even got an interview. One in five job seekers remained unemployed for 10 months or more.

Those already employed are struggling to make ends meet. Thirty-seven percent of workers have tapped retirement accounts for hardship withdrawals or loans. Personal spending, adjusted for inflation, fell 0.15% in the first half of 2025 — the sharpest decline since the financial crisis.

Families are drowning in debt. Household debt sits at $18.39 trillion, up $600 billion in one year. Student loans total $1.64 trillion, with more than 10% delinquent. Credit card debt has hit $1.21 trillion, with average APRs over 22%. Auto loans stretch to seven years for one in five new vehicles. Nearly half of renters now spend more than 30% of their income on housing.

A stock market built on sand

You’d expect Wall Street to slump alongside Main Street. Instead, the S&P 500 posts records. Why? Because 10 mega-cap tech stocks make up 40% of its total market cap. Strip them out, and the picture darkens.

More than 450 large companies filed for bankruptcy in the first half of 2025, the most since the Great Recession. Manufacturing has lost 78,000 jobs. Construction spending has fallen in seven of the past 11 months. Small caps fare even worse: 43% of Russell 2000 firms are unprofitable.

AI hype fuels the illusion. Nvidia’s data center revenue — half of it from just three shaky firms — drives much of the market. The S&P’s price-to-book ratio now tops the dot-com bubble. This is not sustainable growth; it’s speculation on steroids.

The housing bubble must pop

Housing has become the last pillar propping up the economy. Thanks to years of near-zero rates, federal subsidies, and trillions in mortgage-backed securities, the housing market ballooned to $55 trillion — $20 trillion more than in 2020.

But affordability is gone. The frozen market now shows cracks as prices fall in half the country. This is the moment to let it reset. Instead of lowering lending standards or declaring housing “emergencies,” the Trump administration should allow prices to match real wages.

Americans can’t keep using housing as a savings account or demanding 25% annual stock returns while complaining about inequality. You can’t have both free markets and endless asset bubbles.

RELATED: No peace without steel: Why our factories must roar again

Photo by sdlgzps via Getty Images

Stop feeding the beast

Wall Street already salivates over another round of stimulus to keep the AI bubble inflated. Evercore ISI predicts the S&P could hit 9,000 by 2026, even while warning this could become the “biggest bubble ever.” By then, the economy would be addicted to corporate welfare, and taxpayers would foot the bill for the richest companies in history.

Enough. A nation cannot live on financial tricks and asset bubbles forever. Let the recession come. Let the bubbles burst. Only then can America rebuild a market economy rooted in work, savings, and production — not in debt and fantasy.

Won’t somebody finally stand up and shout stop?

Democrats can’t handle a Trump recovery



The Department of Labor reported on August 1 that the U.S. unemployment rate ticked up slightly in July to 4.2%. Employers added just 73,000 jobs — well below the 110,000 economists had projected.

Democrats pounced immediately.

This isn’t economic chaos. It’s called a comeback.

Senate Minority Leader Chuck Schumer (D-N.Y.) claimed the report showed Americans are “paying the price” for “Donald Trump’s destructive trade war.” He called the data an illustration of “economic chaos.”

California Gov. Gavin Newsom (D) — already positioning himself for a 2028 presidential run — declared that Trump is “crashing our economy” and insisted, “We haven’t seen conditions like these since 2020.”

Sen. Chris Murphy (D) of Connecticut said the economy was “chaotic and full of corruption.” He later wrote on X: “Companies don’t want to create jobs in Trump’s chaos economy with weakening rule of law and rampant corruption.”

But the reality is far less dramatic than the rhetoric.

Numbers in context

Yes, the July jobs report was underwhelming. But it was far from catastrophic.

The 4.2% unemployment rate in July 2025 is the same as it was in July 2024 — and in March, April, May, August, and November of last year. The rate has held steady for months. In what way is that “crashing our economy”? That’s called consistency.

By contrast, unemployment rose significantly during President Biden’s final year in office. In July 2023, the rate was 3.5%. A year later, just before Biden dropped out of the 2024 race, it had climbed to 4.2%.

The fact is, Trump didn’t inherit a strong economy. He got Biden’s inflation, stagnation, and policy uncertainty. So what we’re seeing now is more of a course correction, not a crash.

Signs of progress

According to the Bureau of Labor Statistics, full-time employment has grown by 1.1 million over the past 12 months. Layoffs in July were down 15% year over year.

Gross domestic product also rebounded. The Commerce Department reports that U.S. economic output rose 3% in the second quarter of 2025, reversing a 0.5% contraction in the first.

None of this suggests economic free fall. It suggests recovery.

Meanwhile, the Trump administration has brokered major trade agreements with key global players and secured historic investment deals — moves that will pay off in the years ahead.

Japan pledged to invest $550 billion in U.S. industries, and Saudi Arabia agreed to $600 billion in new investments. In May, the United Arab Emirates agreed to more than $200 billion in commercial deals, on top of a $1.4 trillion commitment earlier this year to back emerging technologies.

Domestic investment is ramping up

American companies are also stepping up in response to Trump’s pro-business regulatory agenda.

Apple this week reached an agreement with the White House to commit another $100 million to domestic manufacturing. This follows the tech giant’s announcement in February of plans to spend more than $500 billion in the U.S. over four years, focusing on operations in Arizona, California, Iowa, Michigan, Nevada, and North Carolina.

IBM pledged $150 billion over five years.

RELATED: Powell’s tight money policy is strangling the US economy

Photo by Win McNamee/Getty Images

Eli Lilly in February committed $27 billion for new domestic manufacturing, including four new plants. That initiative alone will create more than 3,000 permanent jobs and 10,000 construction jobs.

These investments are not instant, but they are real — and they will reshape America’s economy.

The real panic is political

The Democrats’ sudden alarm over a flat unemployment rate reveals more about their political fears than economic facts. A strengthening Trump economy threatens their narrative — and their electoral strategy.

They’re hoping manufactured panic can drown out progress. But Americans can see what’s really happening.

The July jobs report may have missed expectations, but the broader trend is unmistakable. Trump is rebuilding what Biden’s policies eroded. Jobs are returning. Investment is growing. Stability is taking root.

This isn’t economic chaos. It’s called a comeback.

Tariffs Aren’t Raising Prices, CNN Admits After 5 Articles Insisting Tariffs Were Raising Prices

“Prices would rise — sharply — they said, reigniting an inflation crisis that tens of millions of Americans had elected [President Donald Trump] to solve,” CNN’s David Goldman wrote on Friday. “But that massive, tariff-induced inflation spike hasn’t materialized. Not even close.” Indeed, it hasn’t. But who exactly is Goldman referring to when he says, […]

A tax hike is coming — and it’s not just for the rich



Academy Award-winner Elizabeth Taylor, married eight times to seven men, likely entered each union with the hope it would last. Good things, after all, should be permanent.

Yet in Washington, permanence is too often treated as a liability. Nowhere is this more apparent than in tax policy. Thanks to arcane rules surrounding budget reconciliation, Congress routinely enacts pro-growth reforms with an expiration date baked in.

A permanent extension of the reconciliation bill’s pro-growth elements would produce more ‘bang for the buck’ than a temporary extension.

Consider the House-passed One Big Beautiful Bill Act. Though the measure would extend and build upon President Donald Trump’s 2017 Tax Cuts and Jobs Act, it fails to permanently extend several of the law’s most pro-growth elements.

That’s a mistake. Again, good things should be permanent.

Pro-growth policies need permanence

Earlier this month, Unleash Prosperity Now — a nonprofit aligned with President Trump — organized a letter signed by more than 300 economists, myself included, urging Congress to “extend President Trump's tax cuts permanently to prevent a tax increase on January 1, 2026.”

Why do we insist upon permanence? Permanent pro-growth public policies result in better economic outcomes. In contrast, temporary policies create troublesome uncertainty, which, in turn, sows confusion for consumers and businesses, making financial planning and investment needlessly difficult.

A permanent extension of the reconciliation bill’s pro-growth elements would produce more economic “bang for the buck” than a temporary extension. It’s that simple.

According to the Tax Foundation, “Permanence for the [bill’s] four cost recovery provisions would more than double the long-run economic effect.” These provisions would include 100% bonus depreciation, expensing of research and development investment, and a more generous interest deduction limit, among others.

The Tax Foundation concludes:

The current package produces meager effects on GDP and a smaller U.S. capital stock over the long run because the cost recovery provisions sunset. As lawmakers continue to debate the tax package, they should not compromise on permanence for the most pro-growth provisions.

This view aligns with the prevailing economic literature. For example, a 2019 study by the St. Louis Federal Reserve concluded, “A rise in uncertainty is widely believed to have detrimental effects on macroeconomic, microeconomic, and financial market outcomes.”

If that warning were plastered on the side of a pack of cigarettes, it would read, “Congressionally induced policy uncertainty is hazardous to the country’s economic health.”

Jobs under threat

Fortunately, Senate Finance Committee Chairman Mike Crapo (R-Idaho) is determined to extend the reconciliation bill’s most pro-growth elements permanently. Bravo, Mr. Chairman!

Permanence aside, why did more than 300 economists call for preventing the tax increase scheduled under current law?

RELATED: I was against Trump’s ‘big, beautiful bill’ — Stephen Miller changed my mind

Photo by Chip Somodevilla/Getty Images

If taxes increase as planned, the economic fallout could be steep. Wells Fargo warns that average monthly job creation could plummet from 133,000 in the first quarter to just 25,000 next quarter — and then turn negative, with an estimated loss of 17,000 jobs per month in the fourth quarter.

If Congress fails to “spike the hike,” Wells Fargo estimates economic growth will slow to a tepid 1.1% this year and next.

A warning to deficit hawks

For those worried about the deficit, here's the paradox: Letting the economy slow — or worse, slip into recession — is the surest way to worsen the nation’s fiscal health.

To further underscore the situation, Douglas Holtz-Eakin, who directed the Congressional Budget Office from 2003 to 2005, cautions: “Given the weak state of the economy, it [the scheduled tax increase] would likely trigger a recession, and the budget outlook never gets better in a recession.”

Yes, it’s that simple.

Elizabeth Taylor once quipped, “If you hear of me getting married [again], slap me!” At least, she had the right intentions. Congress, on the other hand, routinely resorts to temporary policies to game the reconciliation process. That needs to stop.

To guard against recession, Congress should reconsider the tax increase scheduled for next year. But to boost economic growth, Congress should follow Crapo’s lead and extend permanently the 2017 Tax Cuts and Jobs Act pro-growth provisions.

White House Sends Congress $9.4B Rescissions Package

'House Oversight committee Tuesday it confirmed it Congress had received had the package'

Democrats Don’t Get The Benefit Of The Doubt On Biden’s Health, ‘86,’ Or Anything Else

We don't know all the details of Biden's cancer timeline or Comey's latest beach walk. But we do know about Democrats' relationship with the truth. And that tells us everything.

The Media Kept Rooting For A Tariff-Driven Recession. The Data Keep Disappointing Them

The propaganda press has spent the last few weeks desperately trying to convince Americans that there was an impending recession due to President Donald Trump’s pro-America agenda that included levying tariffs on countries ripping off the United States. “Companies buying foreign products pay the tariffs imposed on them — and, as a result, face higher […]

Want a recession? Kill this business deduction and wait



When President Donald Trump returned to office in January, nearly everyone in his circle agreed on the top priority: renewing the 2017 Tax Cuts and Jobs Act. Without action, a crushing 22% tax hike looms, threatening to undo the economic gains of the past decade.

Extending the tax reform would also give businesses and investors the long-term stability they need to plan, expand, and hire.

Repealing the C-SALT deduction would hammer small businesses — the backbone of the American economy.

Instead, the administration has sent mixed signals. Daily shifts in tariff policy have rattled markets and injected uncertainty into every sector of the economy. Investors are jittery. Business leaders are holding back. And analysts are already warning of a potential recession.

These mistakes make it even more important to switch the focus to the tax package. The Trump administration should stop talking about tariffs and focus, along with Congress, on stabilizing markets and laying the foundation for economic growth by getting taxes down.

C-SALT: A conservative’s dream

The Tax Cuts and Jobs Act delivered everything conservatives had long demanded: 100% expensing for business property, a 21% corporate income tax rate, and a child tax credit that rewarded work. It stood as the defining achievement of Trump’s first term. Making it permanent could help revive the pre-COVID economic boom.

But lawmakers must resist the temptation to gut the law’s pro-growth provisions to fund unrelated priorities. That includes rejecting the misguided push to repeal or limit the corporate state and local tax deduction, known as C-SALT.

Debates about the individual SALT deduction cap have dominated headlines in Washington. Some reforms to that cap may make sense. But individual SALT and C-SALT are not the same issue, and they shouldn’t be treated as interchangeable.

C-SALT promotes growth by preventing double taxation on businesses. It lets employers reinvest earnings, stay competitive, and create jobs. Rolling it back would hit business owners hard, slow hiring, and weaken America’s edge in the global economy.

Policy groups like Americans for Tax Reform and the Tax Foundation agree: Gutting C-SALT would put long-term growth at risk — and betray the core economic agenda that fueled Trump’s first-term success.

For businesses, state and local taxes are an operating expense. If businesses lose the ability to deduct these taxes, they will be paying taxes on taxes.

Small businesses pay the price

Repealing the C-SALT deduction would hammer small businesses — the backbone of the American economy. Many already struggle under heavy corporate, state, and local tax burdens, especially in rural and Republican-leaning states. Removing this deduction would force them to shoulder a disproportionate share of the pain.

No serious conservative case exists for eliminating or capping the C-SALT deduction. Some Republicans seem confused, conflating C-SALT with the personal SALT deduction, which overwhelmingly benefits wealthy taxpayers in high-tax blue states. But they are not the same. As the Tax Foundation notes, capping C-SALT won’t “reduce distortive tax benefits or enhance state competition” the way a cap on the personal SALT deduction might — because corporate and individual tax systems function differently.

In 2023, American businesses paid nearly $1.1 trillion in state and local taxes. Stripping away their ability to deduct those taxes from federal corporate income tax amounts to a massive tax hike — potentially hundreds of billions of dollars over the next decade.

That kind of tax increase would erase much of the economic progress since the 2017 tax law was passed. It would punish the very job creators conservatives claim to champion.

Lawmakers in Congress — especially Republicans who support free enterprise and pro-growth tax reform that spurs economic growth — should focus on restoring and making permanent the 2017 Tax Cuts and Jobs Act’s tax cuts without jeopardizing the benefits that the C-SALT deduction provides for American businesses of all sizes.

What the stock market sell-off really says about the US economy



The stock market has been on a serious roller coaster ride this week after false reports that President Trump was pausing his reciprocal tariffs for 90 days began making the rounds on the news and social media.

“We were watching it bounce back, and then all of a sudden it dropped back down again,” Glenn Beck of “The Glenn Beck Program” comments. “Not sure what happened until we checked the news. It seems like all of these media organizations reported an interpretation from some social media user.”

The social media user has posted an analysis of what a Trump official, National Economic Council Director Kevin Hassett, said in an interview, which is what the media then latched on to.


“He was asked by Brian Kilmeade, ‘Would Trump consider a 90-day pause?’ And Hassett said, ‘I think the president’s going to decide what the president is going to decide,’” Stu Burguiere explains.

“There’s no pause, and so now the market’s down again,” he adds.

“What’s going on in our economy is bogus. It’s all this bogus money that the Fed keeps printing and putting into the system with 0% interest rates. It’s all funny money. The stock market is no longer tied to anything real, and everybody just bypassed that and went, ‘Wow, things are really good, things are really good,’” Glenn explains.

“No,” he continues. “It was all bogus. All of that is bogus.”

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

MSNBC Hack Gives Biden Tongue-Bath In Final Presidential Interview

President Joe Biden sat down for a rare interview with MSNBC’s Lawrence O’Donnell just days before his presidency will come to an end. But O’Donnell squandered the rare opportunity to hold Biden accountable. Instead of challenging Biden on the monumental failures that have defined his time in office, O’Donnell opted for a series of softball, […]