Trump warns of depression if Democrats win, touts $5,000 payments

  • Trump warned of an economic depression if Democrats win the next midterm elections and promoted $5,000 payments under a Republican victory.
  • Investor Peter Schiff estimated the payments would add about $1.35 trillion to annual federal deficits.
  • Trump tied the proposal to Republicans winning both chambers, while no formal funding plan has been released.

President Donald Trump said the United States would face an "economic depression" if Democrats win next month’s midterm elections, while promising that a Republican victory would put $5,000 in each person’s pocket and deliver economic success "like we have never ever seen." Investor Peter Schiff estimated that annual payments to every adult American would add about $1.35 trillion to federal deficits. Trump first made the proposal conditional on Republicans retaining both chambers of Congress, but the administration has not released a formal funding plan. Vice President JD Vance has suggested tariff revenue could help finance the benefit and that wealthy Americans might be excluded. An Economist/YouGov poll found 48% of registered voters supported the payments and 40% opposed them, while only 21% believed Trump would deliver them if Republicans retained control of Congress.

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