Trump Roars Back: Dems Blamed, “Schumer Shutdown” Can’t Stop Economic Surge

Paul Riverbank, 12/9/2025Trump touts economic surge, blames Dems; wage gaps, Fed politics, and 2026 midterms loom.

Treasury Secretary Scott Bessent delivered his own brand of optimism during a sit-down with CBS News, not so much hedging as declaring: “We’re going to finish the year, despite the [Sen. Chuck Schumer] shutdown, with 3% real GDP growth.” That’s a target that carries political weight. Not to be outdone, the Atlanta Fed’s early math one-ups it: they peg growth closer to 3.5%. Bessent, seldom short on confidence, reminded reporters, “We’ve had 4% GDP growth in a couple of quarters.” It’s the kind of statement that can drown out a lot of skepticism—at least for a news cycle or two.

President Trump, never shy with the rhetorical elbows, has taken every opportunity to blame Democrats for creating an “affordability crisis” he claims to be sorting out. “We inherited a mess,” he told a crowd at the White House, that familiar note of grievance spiked with assurance. “Democrats caused the affordability problem. ...They caused it — we’re fixing it.” Democrats, for their part, beg to differ, but the White House is betting that the optics—a president on tour in states like Pennsylvania, talking up blue-collar concerns—speak louder than the counter-narratives.

The roadshow is more than just policy bullet points. Trump is targeting battlegrounds, zeroing in on wage growth, energy prices, and even artificial intelligence—issues that few would have expected to share a stage a decade ago. The campaign feels designed to project a sense of momentum, particularly after some humbling losses for Republicans in state contests earlier this autumn.

But as is so often the case in American politics, headline numbers only tell part of the story. Yes, the delayed inflation report (thanks to the shutdown) confirmed that consumer prices went up by roughly 3% over the past year. If you’re a blue-collar worker, your pay likely outpaced that, at least in aggregate: 1.7% wage growth above inflation, a high bar unmatched since the early days of the Kennedy administration. Yet, step further down the income scale and the picture shifts—Bank of America’s research says lower-wage workers saw only about 1% more in their paychecks, while the wealthiest enjoyed close to a 3.7% jump. The implication hangs in the air: growth is happening, but not every corner of the country is basking in its warmth.

Still, Americans are notoriously quick to respond to falling gas prices and extra room on their credit cards. Retailers reported historic spending over Thanksgiving, a burst of consumer confidence that coincided with a modest nudge up in Trump’s approval ratings—from 45% to 47%, per a UK Daily Mail/J.L. Partners poll. The campaign, unsurprisingly, is eager to capitalize on this, even as critics argue that lower prices at the pump don’t erase anxiety over healthcare or housing.

On policy specifics, the administration touts the “One Big Beautiful Bill Act” (an unmissable Trumpian touch) that delivered significant tax cuts. Trump’s team claims one of their most touted moves—lifting taxes on gratuities—will be especially popular among hourly and service workers, groups forever perched on the margins of America’s economic debate. Even so, not every promise goes down easily: new tariff rebate proposals, $2,000 checks, and the pitch for 50-year mortgages for first-time buyers have sparked plenty of conversation—and no small amount of skepticism, notably from economists who remember the consequences of easy money and creative finance.

Agriculture, too, has reentered the spotlight. Trump’s latest offer: a projected $12 billion aid package for farmers standing on the front line of the U.S.–China trade standoff. For many in the heartland, it’s a timely olive branch, but whether it’s enough to sway skeptical rural voters is unclear.

Democrats aren’t waiting for the answer. They’ve launched a counter-offensive around the theme “Make America Affordable Again.” If you listen to their surrogates, the country’s economic gains aren’t filtering down, and kitchen-table anxieties remain unresolved. Republicans call this a “con job,” pointing to the years of steeper inflation under the previous administration and painting themselves as the architects of relief.

One subject quietly gaining traction both inside policy circles and in boardrooms is the looming question of Federal Reserve leadership. Jerome Powell’s term is up in May, and the White House’s apparent favorite—Kevin Hassett—has his own share of critics. Detractors cite examples from abroad: in Turkey, a too-cozy relationship between the central bank and the executive branch has created its own version of economic chaos, with triple-digit inflation. “We’ve seen it happen elsewhere,” notes economist Justin Wolfers, raising the specter of lost central bank independence. Even some former administration economists, like William Silber, are asking whether Hassett would keep political considerations out of monetary policy.

Addressing the speculation, Hassett gave a nod to loyalty, telling CBS, “I’d like to do what the president needs me to do.” Trump, meanwhile, delivers the backing one might expect: “He’s a respected person, that I can tell you. Thank you, Kevin.” For now, the markets seem unphased—stocks are healthy, 401(k)s and retirement accounts are buoyant, and the comparison to Reagan-era prosperity is being drawn, sometimes with little subtlety.

There is, however, a persistent risk beneath the bravado. If the administration cannot translate positive indicators into tangible relief—especially for workers seeing little improvement in day-to-day costs—the electoral implications could shift. And should the Federal Reserve lose its reputation for independence, markets and international investors might reassess America’s economic trajectory in ways that policy alone can’t fix.

All of this, as the shadow of the 2026 midterms grows, promises an eventful and, at times, unpredictable political season. For now—with the White House dialing up both volume and velocity on its economic message—the real test of strategy is not in the numbers alone, but in whether Americans believe that the recovery narrative is more than just another campaign slogan.

It’s the final stretch of the year, and the tone radiating from the White House feels less like an administration quietly wrapping up its business and more like a championship team in the closing minutes of a crucial game. President Trump and his advisors have locked arms around a central narrative: the economy is roaring, and the wounds, they say, are finally healing.Treasury Secretary Scott Bessent delivered his own brand of optimism during a sit-down with CBS News, not so much hedging as declaring: “We’re going to finish the year, despite the [Sen. Chuck Schumer] shutdown, with 3% real GDP growth.” That’s a target that carries political weight. Not to be outdone, the Atlanta Fed’s early math one-ups it: they peg growth closer to 3.5%. Bessent, seldom short on confidence, reminded reporters, “We’ve had 4% GDP growth in a couple of quarters.” It’s the kind of statement that can drown out a lot of skepticism—at least for a news cycle or two.President Trump, never shy with the rhetorical elbows, has taken every opportunity to blame Democrats for creating an “affordability crisis” he claims to be sorting out. “We inherited a mess,” he told a crowd at the White House, that familiar note of grievance spiked with assurance. “Democrats caused the affordability problem. ...They caused it — we’re fixing it.” Democrats, for their part, beg to differ, but the White House is betting that the optics—a president on tour in states like Pennsylvania, talking up blue-collar concerns—speak louder than the counter-narratives.The roadshow is more than just policy bullet points. Trump is targeting battlegrounds, zeroing in on wage growth, energy prices, and even artificial intelligence—issues that few would have expected to share a stage a decade ago. The campaign feels designed to project a sense of momentum, particularly after some humbling losses for Republicans in state contests earlier this autumn.But as is so often the case in American politics, headline numbers only tell part of the story. Yes, the delayed inflation report (thanks to the shutdown) confirmed that consumer prices went up by roughly 3% over the past year. If you’re a blue-collar worker, your pay likely outpaced that, at least in aggregate: 1.7% wage growth above inflation, a high bar unmatched since the early days of the Kennedy administration. Yet, step further down the income scale and the picture shifts—Bank of America’s research says lower-wage workers saw only about 1% more in their paychecks, while the wealthiest enjoyed close to a 3.7% jump. The implication hangs in the air: growth is happening, but not every corner of the country is basking in its warmth.Still, Americans are notoriously quick to respond to falling gas prices and extra room on their credit cards. Retailers reported historic spending over Thanksgiving, a burst of consumer confidence that coincided with a modest nudge up in Trump’s approval ratings—from 45% to 47%, per a UK Daily Mail/J.L. Partners poll. The campaign, unsurprisingly, is eager to capitalize on this, even as critics argue that lower prices at the pump don’t erase anxiety over healthcare or housing.On policy specifics, the administration touts the “One Big Beautiful Bill Act” (an unmissable Trumpian touch) that delivered significant tax cuts. Trump’s team claims one of their most touted moves—lifting taxes on gratuities—will be especially popular among hourly and service workers, groups forever perched on the margins of America’s economic debate. Even so, not every promise goes down easily: new tariff rebate proposals, $2,000 checks, and the pitch for 50-year mortgages for first-time buyers have sparked plenty of conversation—and no small amount of skepticism, notably from economists who remember the consequences of easy money and creative finance.Agriculture, too, has reentered the spotlight. Trump’s latest offer: a projected $12 billion aid package for farmers standing on the front line of the U.S.–China trade standoff. For many in the heartland, it’s a timely olive branch, but whether it’s enough to sway skeptical rural voters is unclear.Democrats aren’t waiting for the answer. They’ve launched a counter-offensive around the theme “Make America Affordable Again.” If you listen to their surrogates, the country’s economic gains aren’t filtering down, and kitchen-table anxieties remain unresolved. Republicans call this a “con job,” pointing to the years of steeper inflation under the previous administration and painting themselves as the architects of relief.One subject quietly gaining traction both inside policy circles and in boardrooms is the looming question of Federal Reserve leadership. Jerome Powell’s term is up in May, and the White House’s apparent favorite—Kevin Hassett—has his own share of critics. Detractors cite examples from abroad: in Turkey, a too-cozy relationship between the central bank and the executive branch has created its own version of economic chaos, with triple-digit inflation. “We’ve seen it happen elsewhere,” notes economist Justin Wolfers, raising the specter of lost central bank independence. Even some former administration economists, like William Silber, are asking whether Hassett would keep political considerations out of monetary policy.Addressing the speculation, Hassett gave a nod to loyalty, telling CBS, “I’d like to do what the president needs me to do.” Trump, meanwhile, delivers the backing one might expect: “He’s a respected person, that I can tell you. Thank you, Kevin.” For now, the markets seem unphased—stocks are healthy, 401(k)s and retirement accounts are buoyant, and the comparison to Reagan-era prosperity is being drawn, sometimes with little subtlety.There is, however, a persistent risk beneath the bravado. If the administration cannot translate positive indicators into tangible relief—especially for workers seeing little improvement in day-to-day costs—the electoral implications could shift. And should the Federal Reserve lose its reputation for independence, markets and international investors might reassess America’s economic trajectory in ways that policy alone can’t fix.All of this, as the shadow of the 2026 midterms grows, promises an eventful and, at times, unpredictable political season. For now—with the White House dialing up both volume and velocity on its economic message—the real test of strategy is not in the numbers alone, but in whether Americans believe that the recovery narrative is more than just another campaign slogan.