The Limits of 'Big Fiscal'

As Democrats prepare for the midterms, most are coalescing around the theme of affordability. The focus on price levels and the economy's overall health is a decent bet-assuming Democrats aren't diverted by the Trump administration's aggressive response to Charlie Kirk's assassination. Indeed, the stagflationary conditions that economists warned of are increasingly evident. From a new surge in grocery prices to anemic job growth to mounting layoffs in tech, retail, and manufacturing, burdened households haven't experienced a whiff of the boom Donald Trump promised.