Friend,

The numbers don’t lie: President Trump has already had a disastrous impact on America’s economy. Here are a few key indicators:

• America’s GDP fell by 0.3% in the first quarter of the year, down from 2.4% in the last quarter of 2024. That’s “the worst quarterly performance for the U.S. economy since early 2022, when the economy was in recovery after cratering during the COVID pandemic,” according to CBS News.
• April’s employment numbers showed private employers added 62,000 jobs this month. That’s way below the 134,000 jobs that had been forecast by economists.
• Employers created only 135,000 new jobs, a slowdown from 228,000 in March.
• In what is typically a busy season for the real estate industry, sales of previously owned homes fell to their slowest rate since 2009. 
• The S&P 500 has lost about 8% since Jan. 20.
• Nearly every measure of consumer confidence tracked by Wall Street firms, including the more conservative-leaning National Federation of Independent Business’ monthly survey of smaller businesses, has shown a decline in economic optimism.

It doesn’t have to be this way. Democrats, though a minority in Congress, will continue to fight for an inclusive and growing economy. We’ll use every tool in our toolkit to try and block harmful tariffs, lower costs for American families, and protect your retirement savings.

— Jim