MAGAnomics Isn't Working

A dismal jobs report affirms earlier warnings about the economic impact of Donald Trump's tariffs, immigration restrictions, and -led firings. At the start of last week, I watched a big cargo ship stacked high with containers enter New York Harbor. As the vessel approached the Verrazzano-Narrows Bridge, it appeared to stop, but that was an illusion created by its size and the slowness of its advance. Fifteen minutes later, it had managed to push its way under the bridge. Throughout the years, I've often compared the U.S. economy to a giant freighter that is tough to deflect from its course, and, since Donald Trump was elected for a second time, this metaphor has become particularly apt.