The people want affordability, and Donald Trump knows it. After initially calling the concept a 'hoax,' the president has begun unveiling his own agenda to bring down prices and increase Americans' purchasing power. Somewhat astoundingly, each of his proposals, if enacted, would be more likely to make the affordability problem worse, not better. Trump's signature idea is simply to give people money. In November, he promised to send out a 'tariff dividend' of $2,000 to all but the highest-earning Americans sometime in 2026. This plan, which he has continued to promote, would almost certainly require an act of Congress, meaning that it's unlikely to happen. That's a good thing. Handing out free money would make voters happy in the short term but would ultimately backfire. This is because a massive one-time influx of cash is likely to create far more demand than the economy can possibly meet. Consumer spending is already strong, unemployment is already low, and inflation is still too...
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