Trump has yet to deliver any major wins in our economic relationship with China. The stakes couldn’t be higher as the world becomes increasingly reliant on high-tech chips produced in Taiwan. My analysis on @morningjoe-msnow.bsky.social @msnowreports.bsky.social.

Over 10 million Americans will lose health care coverage because of Republican cuts to Medicaid and Obamacare subsidies. That amounts to half of the total number of people who gained health insurance because of the A.C.A. 📸: @morningjoe-msnow.bsky.social @ms.now

Red states have disproportionately benefited from the health insurance subsidies expanded by Biden and then cut by Trump. Georgia is a clear example: in just one year, marketplace enrollment has dropped by more than 550,000 people — a 37% decline. My @morningjoe-msnow.bsky.social Chart.

Over 10 million Americans will lose health insurance because of Trump’s cuts. 4 million from losing subsidies and 6 million more from cuts to Medicaid. My @morningjoe-msnow.bsky.social Chart.

Some analysts estimate that up to a quarter of marketplace participants may drop their health coverage this year. And that group will be mostly healthy, leaving behind a higher-risk, sicker pool of insured. My @morningjoe-msnow.bsky.social Chart.

Without subsidies, millions of middle-income Americans on the marketplace with over $60,000 in income will be unable to afford health insurance. These Americans make too much for Medicaid but lack access to employer-based insurance. My @morningjoe-msnow.bsky.social Chart.

Trump’s cuts to Obamacare subsidies hit middle class and elderly workers the hardest. A 60-year-old making $65,000 a year now stands to pay $920 more per month. My @morningjoe-msnow.bsky.social Chart.

President Biden made health insurance more affordable for millions of Americans in the ACA marketplace. The Republicans’ actions increased prices by 58% on average—amounting to huge extra costs for the average consumer each year. My @morningjoe-msnow.bsky.social Chart.

More and more Americans rank health care as a top concern in public polling. Instead of expanding access, Trump has attacked Obamacare, cutting millions off coverage. I’m on @morningjoe-msnow.bsky.social today to unpack this reckless move.

Everyone knows Trump has a conflict of interest when it comes to crypto, raking in millions while investors lose billions. We must not allow him to entice more Americans into his scheme through his new retirement proposal. Read my latest in @nytopinion.nytimes.com. www.nytimes.com/2026/05/05/o...

While access to 401ks should be expanded, the most important thing we can do to protect retirees is strengthen Social Security—America’s last major guaranteed benefit plan. Read my most recent take in @nytopinion.nytimes.com. www.nytimes.com/2026/05/05/o...

Trump says he wants to “democratize” retirement. In reality, his plan will expose Americans’ retirement savings to risky sectors like private equity and crypto. My latest in @nytopinion.nytimes.com. www.nytimes.com/2026/05/05/o...

The emoluments clause of the Constitution bans presidents from taking foreign bribes. That has not stopped Trump from raking in billions in anonymous foreign crypto money. 📸: @morningjoe-msnow.bsky.social @msnowreports.bsky.social

Foreign contributions to political campaigns are banned. Trump found a loophole—crypto—allowing him to rake in hundreds of millions from foreign regimes buying influence. My @morningjoe-msnow.bsky.social Chart.

When it comes to crypto, the fox is in charge of the hen house. The Trump admin has ended dozens of SEC crypto investigations—to the direct financial benefits of his family members and friends. My @morningjoe-msnow.bsky.social Chart.

Trump’s meme coin is a scam to enrich insiders. A couple dozen “whales” made nearly $2 billion soon after launch in early 2025. Then, the coin crashed and lost over $4 billion for over 2 million retail investors—including many everyday Americans. My @morningjoe-msnow.bsky.social Chart.

Trump’s meme coin peaked last year at over $45 just after it launched. Its value has since crashed 95%, destroying billions in wealth for millions of average Americans tricked into buying the token. My @morningjoe-msnow.bsky.social Chart.

Most of Trump’s presidential profits are from crypto speculation. His “genius” real estate deals are a rounding error. My @morningjoe-msnow.bsky.social Chart.

Trump’s net worth has nearly tripled in his second term, reaching $6.5 billion. His administration is the most brazenly self-enriching in American history. My @morningjoe-msnow.bsky.social Chart.

Trump has brazenly profiteered from his position more than any modern president.   On @morningjoe-msnow.bsky.social in a few to show how Trump is enriching himself and his family—through crypto scams, corrupt real estate deals, and more.

President Obama’s auto rescue saved millions of jobs and was critical to economic recovery. Trump’s Spirit bailout is a waste of money. Read my take in @nytopinion.nytimes.com. www.nytimes.com/2026/04/29/o...

Republicans claim to support free markets, but Trump has interfered with private enterprise more than any recent president. Today in @nytopinion.nytimes.com, I explain why his most recent proposed intervention—the Spirit bailout—is financially unsound. www.nytimes.com/2026/04/29/o...

Trump lambasted President Obama for saving the critically important auto industry. Now he’s talking about wasting taxpayer money to bail out Spirit on a whim. I explain why he should let Spirit fail today in the @nytimes.com. www.nytimes.com/2026/04/29/o...

Inflation from the War in Iran is eating into wage growth. Last month, the gap between the two almost closed, a trend that will likely continue into April. My @morningjoe-msnow.bsky.social Chart

The impact of the war has been uneven across the stock market. Sectors like oil exploration and big tech have surged while others, like airlines, consumer staples, and materials have been hit hard. My @morningjoe-msnow.bsky.social Chart

Despite the war, corporate earnings are strong across sectors and are expected to grow year-over-year for the rest of 2026. But of course, this does nothing for the average American, facing higher inflation, especially in gas prices. My @morningjoe-msnow.bsky.social Chart

Amazingly, the market during Trump 2.0 has done almost as well as during Trump 1.0 (and slightly better than under Biden). But performance under Obama was remarkable. My @morningjoe-msnow.bsky.social Chart

The stock market has been rising not because of Trump but in spite of him. My @morningjoe-msnow.bsky.social Chart

The growth outlook for the United States is muted. Economists estimate GDP growth for the next 3 years will be significantly below White House estimates. @morningjoe-msnow.bsky.social

Trump’s budget will dramatically increase our debt. He’s hiding behind unrealistic growth assumptions, but the evidence is clear. @morningjoe-msnow.bsky.social

The Trump budget is historic. For the first time in recent history, the government would spend a larger share of its annual budget on defense than on domestic programs. @morningjoe-msnow.bsky.social

Trump’s huge military budget would be the largest in American history—more than WWII. @morningjoe-msnow.bsky.social

The Trump budget is war first, American people last.   It explodes military funding and brings departments like Labor, Education, and Agriculture to historic lows.   @morningjoe-msnow.bsky.social

The absurdity of the Iran war is epitomized by the Trump administration’s decision to partially ease sanctions on Iran and Russia, allowing both countries to rake in huge profits. Russia is set to earn three times more per month from its energy resources. @morningjoe-msnow.bsky.social

The only way to stop an economic spiral is for Trump to end the war and for Iran to open the Strait of Hormuz. The longer he delays, the longer Americans will struggle with higher oil—and gas—prices. @morningjoe-msnow.bsky.social

Markets were expecting two to three rate cuts from the Fed this year until Trump’s War in Iran began to wreak financial havoc. With inflation picking up, it looks like we might not get any rate cuts at all this year. @morningjoe-msnow.bsky.social

Past oil shocks had massive effects on our economy and politics. And the current one—caused by Trump’s War in Iran—is nearly two times larger. @morningjoe-msnow.bsky.social

Economists worldwide have increased their inflation forecasts for the United States in the wake of the Iran War’s impact on energy markets. The OECD estimates inflation could reach 4.2% this year. @morningjoe-msnow.bsky.social

The Strait of Hormuz is the critical artery for global oil supply, particularly for Asia. The fallout from the War will only end when the oil and gas of the Gulf reaches the global economy—which can only happen if Trump ends the War and Iran reopens the Strait. @morningjoe-msnow.bsky.social

Rising inflation and gas prices aren’t the only economic challenges arising from the Iran war. Mortgage rates have risen 4 weeks in a row since Trump started the conflict; the average 30-year rate is now 6.38%. @wsj.com

Trump bragged that his tariffs are making so much money, he will be able to send stimulus checks to every American. The truth: tariff revenue is a drop in the bucket in reducing the federal deficit. @piie.com

Trump hasn’t delivered on his promises to working Americans. In his 1st year, the gap in spending growth between the wealthy, middle class & poor has widened, and income growth for the rich has surpassed everyone else by the largest margin since 2015. Source: Bank of America

U.S. consumers will be among the hardest hit by Trump’s tariff policies & the Iran war. The OECD raised its U.S. inflation estimation for this year to 4.2% — an increase of 1.2 percentage points, the 4th largest uptick among all G20 economies. CC @oecd-ocde.bsky.social

Oil shocks don’t just drive up inflation. They also increase unemployment. In the context of an already weak labor market, GS estimates the Iran oil shock will increase the unemployment rate by 20-40 basis points by the end of the year. Source: Goldman Sachs

Trump was elected on promises to help working Americans catch up. His policies are having the opposite effect. Together, his tariffs and “One Big Beautiful Bill” will decrease incomes for the poorest Americans and disproportionately benefit the highest earners. @taxpolicycenter.bsky.social

US wealth inequality has skyrocketed in recent decades. We need more focus building wealth for American families in an equitable matter — and less on wars, tariffs, and ICE chaos. CC @wsj.com

President Trump’s approval rating has hit its lowest point in his second administration as the war takes its toll on his standing with the electorate. CC @reuters.com

Suspicious high-volume trades before major POTUS announcements have been a disturbing pattern during the Trump admin. Monday was no different as nearly half a billion $ in oil futures trading occurred irregularly just 15 minutes before Trump’s comments pointing to de-escalation in Iran. Source: FT

Trump’s war in Iran is putting extreme pressure on global oil supplies, driving up crude prices that now may stay higher for longer. My @morningjoe-msnow.bsky.social Chart

Rising gas prices caused by the war are already hurting Americans’ bottom line — in both expensive and affordable states. On average, Americans are paying almost $1 more per gallon than they were last month. My @morningjoe-msnow.bsky.social Chart