‘Very, very bad’: Trump’s job-cutting is outlining a potentially grave future for the United States, economists warn
When economists say that things look dire, we should probably listen. And now and Obama-era economist thinks we’re heading towards a “deep recession.” Oh goody. (That’s sarcasm.)
Jesse Rothstein, the Obama Department of Labor economist, took to BlueSky to post his thoughts on Trump’s economy. He shared a thread on what was happening and what he saw for the future of America’s wealth and honestly, it isn’t great!
“It seems almost unavoidable at this point that we are headed for a deep, deep recession. Just based on 200K+ federal firings & pullback of contracts, the March employment report (to be released April 4) seems certain to show bigger job losses than any month ever outside of a few in 2008-9 and 2020,” Rothstein wrote.
The thread goes on to talk about the government firings and how those who were let go were “worth more” than they were even getting paid. “Even greater damage will be done by the loss of federal government productivity. The workers who are losing their jobs were worth more than they were being paid! We are all poorer when roads, planes, and food are unsafe, when parks are closed, etc,” Rothstein wrote on the social media platform.
What was the most terrifying was Rothstein saying the uncertainty in the private market is going to be “very, very bad.” Rothstein’s report is is terrifying and yet not surprising. Economist have been warning that the gutting of the government that Donald Trump and Elon Musk have been doing would lead to hardships for Americans and yet we are continuing down this dangerous path.
It is not alarmist, it is a warning
Existing in 2025 means hearing things that feel alarmist but the reality is that it is just a precaution. If anything, these “warnings” are going to end up as an “I told you so” but if the powers that be maybe recognize the significance of what these economists are saying, they can save us all.
All these cuts and short cuts can’t end well for us all but that’s not really something the government seems to care about right now. Not to be this person but planes falling out of the sky are not exactly the BEST sign for what they’re doing in the Trump administration.
I don’t necessarily have hope that that the government will finally care about us and we’ll probably end up worse than people can even comprehend right now but hey, at least we were warned….right?
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