Inflation reached its highest rate under President Donald Trump&#8217;s second term, ticking up 0.6% in April, for a one-year pace of 3.8%, according to <a href="https://www.bls.gov/news.release/cpi.nr0.htm">data</a> released Tuesday by the Bureau of Labor Statistics. 
The 3.8% annualized rate is the highest inflation mark since May of 2023, when it came in at 4% and was on its way down from a 40-year high under former President Joe Biden. Experts expected April&#8217;s inflation report to come in at 3.7%.  
Energy costs rose 3.8% in April, accounting for 40% of the monthly increase and pushing the 12-month gain to 17.9%. That marked a cooldown from March, when energy prices jumped 10.9% — the largest monthly gain since 2005. Shelter (0.6%) and food (0.5%) also posted notable increases.
Inflation in April outpaced the month&#8217;s wage gains by 0.2%. United States equities fell by <a href="https://www.cnbc.com/2026/05/11/stock-market-today-live-updates.html?__source=iosappshare%7Ccom.apple.UIKit.activity.PostToTwitter">0.7%</a> after the inflation report was released. The Nasdaq also dropped 1.2%, and the Dow Jones Industrial Average fell by 0.6%. 
“It isn’t like it’s an avalanche, but it’s a steady move upward,” Thomas Martin, the senior portfolio manager at Globalt Investments, told <a href="https://www.cnbc.com/2026/05/11/stock-market-today-live-updates.html?__source=iosappshare%7Ccom.apple.UIKit.activity.PostToTwitter">CNBC</a>.
Rising prices have hit Americans the hardest at the pump in recent months as the national average price for gas has ticked up to $4.50 per gallon. 
The White House appeared to respond to the inflation report by sharing a chart showing goods and services that have fallen over the last year. Oil was notably not on the list. 
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<a href="https://t.co/WPYOsC3sUb">pic.twitter.com/WPYOsC3sUb</a>
— Rapid Response 47 (@RapidResponse47) <a href="https://twitter.com/RapidResponse47/status/2054189194096894295?ref_src=twsrc%5Etfw">May 12, 2026</a></blockquote>
White House spokesman Kush Desai told The New York Times that the administration “remains laser-focused on delivering growth and affordability on the home front while working to eliminate the Iranian nuclear threat.” Data shows the price uptick is driven by higher energy prices due to the war with Iran. 
The Strait of Hormuz, the chokepoint for roughly one-fifth of the world&#8217;s oil supply, remains closed. On Monday, President Trump said that a proposed deal to end the conflict with Iran is on “life-support.”
Following April&#8217;s inflation report, the Polymarket odds of a Fed rate hike before 2027 jumped nearly 10 points to 31% — just as Kevin Warsh prepares to take the reins from Fed chair Jerome Powell on Wednesday.

Gas Prices

Inflation Rises To Highest Level In Three Years

Donald Trump

Economy

Inflation

Trump Administration

McDonald’s customers are annoyed by what the fast food company just pitched as a bargain.
For a limited time, the McDouble will be available on the company&#8217;s &#8220;McValue&#8221; menu for $2.50. But social media commenters are pointing out that this “value” only highlights how much prices have increased in a short period, as the same sandwich once cost $1.
People were further incensed when McDonald’s discontinued its popular “Buy 1, Get 1 for $1” promo in late April. That’s been replaced by the “Under $3” menu that includes the McDouble and other items, many of which were included in the earlier promotion. 
&#8220;Look, it was my go-to lunch for work every single day. Quick, easy and 5 bucks for lunch. That&#8217;s gone, so am I,&#8221; one commenter wrote. &#8220;No reason else to go. Might only be 1 person, but that&#8217;s one customer gone.&#8221; 
“Anyone remember when McDoubles used to be 99 cents? It was only 10 years ago &#8230;&#8221; one Reddit user noted. 
&#8220;All these were 99-cent items, then it [turned] into a &#8216;value&#8217; meal, then we have what we got now,” another commenter observed. 
&#8220;Thing was a dollar, they sell billions of burgers and I&#8217;m supposed to be impressed by 2.50?&#8221; a third agreed.
McDonald’s pushed back against those criticisms, insisting that their offerings remain a great value.
&#8220;Our focus has always been on listening to our customers and meeting their needs,&#8221; McDonald&#8217;s USA said in a statement, <a href="https://www.foxnews.com/food-drink/mcdonalds-2-50-mcdouble-sparks-backlash-americans-say-fast-food-no-longer-cheap">per</a> Fox News Digital.
&#8220;That&#8217;s why McValue was built as a flexible platform designed to evolve with them. The under $3 menu delivers on what they&#8217;ve told us matters most: consistently great prices on their favorite items and the freedom to order what they want, when they want — no bundling required.&#8221;
The fast-food chain is also facing backlash for continuing to phase out its self-serve beverage stations, which many dine-in customers valued for free refills. 
“As confirmed in 2023, McDonald’s will be transitioning away from self-serve beverage stations in dining rooms across the U.S. by 2032,” the company said in a <a href="https://www.dailywire.com/news/mcdonalds-continues-to-phase-out-popular-restaurant-feature-nationwide">statement</a> this week. “The change is being rolled out over 10 years, and is intended to create a consistent experience for both customers and crew across all ordering points, whether that’s McDelivery, the app, kiosk, drive-thru or in-restaurant.&#8221;

McDonald’s

The McDonald’s Menu Change Sparking Nostalgia For The 99-Cent Era

Fast-Food

Food

Restaurant

United States

The National Republican Senatorial Committee is launching a new advertising blitz to boost Republican candidates with six months remaining until Election Day.
Running in North Carolina, Michigan, Ohio, Iowa, Alaska, and New Hampshire, the ads focus on affordability and highlight the tax cuts enacted in President Trump’s ‘One Big Beautiful Bill.’ 
“Joe Biden and Democrats’ wasteful spending wrecked the economy,” the ad supporting Michigan&#8217;s Republican candidate states. “But Mike Rogers is fighting back – working to cut government spending and advocating for working-class Americans.” 
“Republicans are making life more affordable. That means lower costs on groceries, housing, and utilities. Huge tax cuts for hard-working families and more money for our seniors,” the advertisements say.<iframe style="aspect-ratio: 16/9; max-width: 100%; width: 100%; margin: 20px auto 5px; border: 0;" src="https://player.mux.com/L02oaFum7nGsnqFQmni2h13EoMCw01ZpoC?metadata-video-content-type=embed_video&amp;metadata-video-id=65c76139-c981-410e-9520-075474578f6e&amp;metadata-video-stream-type=on-demand&amp;metadata-video-title=EXCLUSIVE%3A%20Republicans%20Choose%20Their%20Midterm%20Battleground%20In%20&amp;poster=https%3A%2F%2Fdailywireplus-v2.imgix.net%2Fimages%2Fembedded-videos%2Fcdf9a7b3-4134-40ff-96d3-c35b0a5e9f0d.jpg&amp;autoplay=false&amp;accent-color=%23DB3D3B&amp;primary-color=%23ffffff&amp;secondary-color=%23000000" allowfullscreen="allowfullscreen"></iframe>
The other five ads — supporting Senator John Husted in Ohio, Senator Dan Sullivan in Alaska, Michael Whatley in North Carolina, Ashley Hinson in Iowa, and John Sununu in New Hampshire — use the same script.
The messaging highlights how central affordability has become, as polls show growing voter dissatisfaction with prices and the state of the economy.
“Working families and seniors are still paying the price for Democrats’ reckless spending spree,” NRSC National Press Secretary Bernadette Breslin told The Daily Wire. “Senate Republicans are fighting to make life more affordable by cutting wasteful spending, reversing Democrats’ inflation, and delivering historic tax relief for hardworking Americans.”
With tax season underway, many Americans are seeing larger refunds. As of Feb. 6, 2026, average tax refunds stood at $2,290 — up nearly 11%, <a href="https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-feb-6-2026">according to the IRS.</a>
Rising fuel prices, however, may be hitting consumers at the pump. On Wednesday, the national average gas price stood at $4.536, <a href="https://gasprices.aaa.com/">according to AAA.</a>  In battleground Michigan — where Republican Mike Rogers is hoping to flip the seat — gas prices are averaging even higher at $4.805.
<a href="https://news.gallup.com/poll/708905/affordability-dominates-americans-financial-worries.aspx">A Gallup poll</a> released on April 28 found that a record 55% of Americans say their financial situation is getting worse. One in three respondents cited inflation and high prices as their top financial concern.
Retaining control of the U.S. Senate is a critical priority for the White House and Congressional Republicans. The upper chamber is responsible for confirming Supreme Court nominees and deciding President Trump’s fate should a Democratic-led House of Representatives vote to impeach him a third time. <a href="https://kalshi.com/markets/controls/senate-winner/controls-2026">Prediction markets</a> currently give Republicans a narrow advantage in retaining control. 
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Republicans hold a 53–47 majority, meaning Democrats would need to flip four seats to take control. If the chamber were split 50–50, Vice President Vance could cast tie-breaking votes.
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Maine Senator Susan Collins — who is set to face off against Graham Platner — is not included in the NRSC’s advertisement blitz. 
Platner, who was exposed for having a Nazi tattoo, also faced backlash for past <a href="https://www.dailywire.com/news/dem-senate-hopeful-called-himself-a-communist-made-racist-comments-in-reddit-posts">Reddit posts</a>, including ones where he called himself a “communist” and said, “cops are bastards.”
Chuck Schumer’s candidate of choice, Gov. Janet Mills, dropped out of the race after failing to gain traction with left-wing primary voters. 
Her exit from the race was welcome news to Republicans.
“Chuck Schumer and Senate Democrats just coronated a phony who is too extreme for Maine. Susan Collins has always put in the work for her constituents and delivered. Washington Democrats always fall short in Maine and will again, because they just nominated a dishonest radical,” NRSC Chairman Tim Scott (R-SC) <a href="https://www.dailywire.com/news/maine-dem-who-sparred-with-trump-over-trans-athletes-ends-campaign">said in a statement.</a>

EXCLUSIVE: Republicans Home In On Affordability In Midterm Battleground Ad Push

Midterms

Republicans

U.S. Senate

California’s already volatile race for governor took on a sharper edge Tuesday night, as a crowded field of candidates turned a nationally televised debate into a sustained exchange of attacks, cross-talk, and ideological contrasts that underscored just how unsettled the contest remains weeks before the June 2 primary.
With seven candidates on stage and no clear frontrunner, the debate quickly took on the feel of a pivotal moment in the race, less about introducing platforms than defining — and swinging at — opponents. Moderators pressed candidates on affordability, energy, immigration, and healthcare, but answers often gave way to direct clashes, particularly between Republicans and Democrats and within the Democratic field itself.
Republicans Steve Hilton and Chad Bianco framed the night around a broader indictment of Democratic governance, arguing that years of one-party control has driven up costs and worsened quality of life. The Democrats; former U.S. Health and Human Services Secretary Xavier Becerra, former Rep. Katie Porter, businessman Tom Steyer, San Jose Mayor Matt Mahan, and former Los Angeles Mayor Antonio Villaraigosa, largely countered by tying Republican critiques to President Donald Trump and defending the state’s policy direction, though not without visible fractures among themselves.
The most consistent throughline of the evening was the cost of living, particularly gas prices, which hovered above $6 per gallon statewide. Hilton argued that regulatory policy and environmental mandates were artificially inflating costs, at one point accusing Steyer of supporting policies that burden working Californians to benefit “rich friends” invested in climate initiatives. Steyer fired back, calling Hilton an “apologist for fossil fuels” and arguing that global markets, not state policy, drive fuel costs.
That exchange set the tone for much of the night: blunt, personal, and often spilling beyond the moderators’ control.
At another point, Becerra claimed that Trump is responsible for raising the cost of living in California, singling out the war in Iran and rising gas prices. Villaraigosa shot back, reminding Becerra that Californians have dealt with the highest gas prices in the country &#8220;for a very long time.&#8221; 
<blockquote class="twitter-tweet" data-media-max-width="560">
Xavier Becerra gets OWNED by his own party:
BECERRA: “Let’s focus on who’s raising the cost of living in California…that’s Donald Trump.”
VILLARAIGOSA: “That’s not true, we’ve had the highest gas prices over $2 than the rest of the nation for a very long time…” <a href="https://t.co/dM7khLVi4J">pic.twitter.com/dM7khLVi4J</a>
— RNC Research (@RNCResearch) <a href="https://twitter.com/RNCResearch/status/2051841155453612241?ref_src=twsrc%5Etfw">May 6, 2026</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Healthcare proved similarly divisive, especially around the question of a single-payer system. Porter pushed Becerra to give a direct answer on whether he supported such a system, while Villaraigosa and Mahan cast doubt on its feasibility, citing cost concerns. Steyer, by contrast, argued the system’s current strain leaves little alternative. Republicans used the moment to frame the debate itself — as Hilton put it — as a choice between “going Left or going farther Left.”
Porter and Steyer also said they want the state to provide free healthcare to illegal immigrants. Hilton shot back at that argument, saying, &#8220;The actual way we deal with healthcare in this state is to at least stop spending twenty billion dollars a year on healthcare for illegal immigrants who shouldn&#8217;t even be in the country in the first place.&#8221;
Immigration and law enforcement added another layer of intensity. Bianco positioned himself as uniquely familiar with the effects of California’s sanctuary policies, while Villaraigosa dismissed his claims outright, calling him a “bully” and referencing past affiliations that Bianco defended. The exchange highlighted not only partisan divides, but the willingness of candidates to escalate rhetoric in a crowded field competing for attention.
<blockquote class="twitter-tweet" data-media-max-width="560">
Candidates vying to be the next California governor clashed over a question on immigration enforcement.
Watch the California Governor Primary Debate live NOW on CNN and the CNN app: <a href="https://t.co/U9JEkCJj1E">https://t.co/U9JEkCJj1E</a> <a href="https://t.co/01Cb2f3Rob">pic.twitter.com/01Cb2f3Rob</a>
— CNN (@CNN) <a href="https://twitter.com/CNN/status/2051847247197798903?ref_src=twsrc%5Etfw">May 6, 2026</a></blockquote>
Within the crowded Democratic ranks, friction was difficult to ignore. Becerra and Mahan sparred over healthcare records, while Becerra and Steyer traded accusations tied to campaign funding and past business dealings. Porter, at one point attempting to police the tone, criticized the “bickering” on stage, only to be drawn back into the ongoing war of interruptions and rebuttals.
The presence of Trump loomed over the debate with Democrats repeatedly casting him as a central threat to California, while Republicans argued that fixation on Trump was a way to deflect from state-level failures. When asked how they would work with him, the divide sharpened further, with some candidates emphasizing resistance and others calling for pragmatic engagement.
Beneath the exchanges, a more structural reality remained clear: the race is still wide open. Polling has shown no dominant candidate, and Tuesday’s debate did little to consolidate the field. Instead, it reinforced the sense of fragmentation — ideologically, stylistically, and strategically — as candidates search for a path into the top two spots that will advance to the general election.
At times, the debate approached disorder, though moderators kept it from devolving into the kind of chaos seen in earlier debates in the race. Still, frequent interruptions, overlapping answers, and pointed one-liners gave the event a combative rhythm that reflected the melodrama of California politics.
With mail voting already underway and the primary less than a month away, Tuesday’s debate served less as a clarifying moment than a snapshot of a race still in flux. For now, the only clear takeaway is the absence of clarity itself.

c-cagovernor-2

Candidates Trade Brutal Blows In Wild California Governor Debate

California

Democrats

Healthcare

Immigration

Starbucks CEO Brian Niccol is defending the company&#8217;s high-priced drinks, arguing that customers are willing to pay for what he calls a “luxury experience.” 
Speaking The Wall Street Journal&#8217;s What&#8217;s News AM podcast, Niccol said Starbucks is performing well across income levels, even as some drinks approach $9.
“We’re doing really well with Gen Z and millennials, and then really had strong performance across all income cohorts,” Niccol said. “It can start with as little as $3 for a traditional cup of coffee. And then obviously you can build your way into all sorts of customized drinks that people love that move that ticket up.”
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When asked whether concerns about a so-called K-shaped economy could impact sales, Niccol said Starbucks isn&#8217;t seeing signs of strain. 
“What we’re seeing is people, they want to have a special experience, and regardless of what your income level is,&#8221; he said. &#8220;In some cases, you know, a $9 experience does feel like you’re splurging. And then, what that means  is we have to make it worthwhile, right?”
In other cases, he added, customers view Starbucks as an affordable premium option.
“They’re saying, ‘Well it’s less than $10 and I get a really premium experience,&#8217;” Niccol went on. “So, regardless of where you’re stationed in those income cohorts, we want to make that experience worth your while.”
Niccol also described a visit to Starbucks as “a moment of escapism,” adding that customers value consistency across price points.
“I think people actually really do appreciate knowing, “Hey, if this is a $3 cup of coffee or a $5 latte, I know I’m going to get a great experience for that $5 experience, I’m in,” he added.
Many commenters called the exec out of touch.
“This video just confirms how detached from reality those people are. [Starbucks] IS NOT a premium experience, nor is the coffee worth $9,” one person wrote. 
“I&#8217;ll pass on this premium experience,” another agreed.
A third commenter quipped, “Friends don’t let friends drink Starbucks.”

Oatmilk Latte

$9 Pitched As ‘Affordable Luxury’ And Americans Aren’t Buying It

Business

Coffee

Starbucks

People in Britain often say that the United States is much like the United Kingdom. Recent polling by Freshwater Strategy showed that the British public thinks that the U.K., as a country, would be the 7th richest U.S. state. The actual 7th richest state, North Dakota, boasts a GDP per capita of $102,000 compared to the U.K.’s $52,000.
Many Brits assume that in both economies most people are poor, while a small number of individuals accumulate vast wealth at the top. In this myth, the U.S. suffers from the same perceived problem as Britain of inequality without wider prosperity.
The uncomfortable reality, however, is that the average Brit is significantly poorer than most Americans.
By GDP per capita, parts of America that are routinely described as economically lagging outperform the British economy. Even Mississippi, often cited as the poorest state, has a GDP per capita of $54,000. That should be a sobering benchmark. This is not a story about inequality in Britain but about weak national wealth creation.
Britain retains the self-image of a rich country but its underlying performance tells a different story — one of high taxes, vast regulation, weak productivity growth, and poor incentives for entrepreneurs.
This reality has shaped the political climate. Between 2008 and the E.U. referendum in 2016, living standards stalled. The Brexit vote was, in part, a collective response to that stagnation and a demand for a different economic trajectory. Leaving the E.U. was never a growth strategy in itself but rather an opportunity to pursue one.
In this respect, Brexit was — and still is — a fork in the road. Britain has greater autonomy over its regulatory, tax, and trade policy. The question is whether that autonomy is used to drive growth or not. My forthcoming story of the Brexit referendum, <a href="https://www.bitebackpublishing.com/books/ten-years-on">Ten Years On</a>, chronicles the campaign and what has happened since.
<div id="attachment_1087613" style="width: 874px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-1087613" class="size-large wp-image-1087613" src="https://dw-wp-production.imgix.net/2026/04/GettyImages-2271018760-864x576.jpg" alt="Pedestrians walk across the Millennium Bridge above the River Thames in central London on April 16, 2026. Britain's economy grew much stronger than expected in February, prior to the start of the Middle East war, official data showed on April 16 ahead of a likely hit from the US-Iran conflict. (Photo by Henry NICHOLLS / AFP via Getty Images)" width="864" height="576" srcset="https://dw-wp-production.imgix.net/2026/04/GettyImages-2271018760-864x576.jpg 864w, https://dw-wp-production.imgix.net/2026/04/GettyImages-2271018760-300x200.jpg 300w, https://dw-wp-production.imgix.net/2026/04/GettyImages-2271018760-768x512.jpg 768w, https://dw-wp-production.imgix.net/2026/04/GettyImages-2271018760.jpg 1024w" sizes=" (max-width: 864px) 100vw, 864px" />Henry NICHOLLS / AFP via Getty Images</div>
In some areas, Britain has benefited from its post-Brexit freedoms. Examples of this range from tech, where being outside the E.U.’s regulatory regime has allowed the U.K. to be more nimble, to healthcare, where we can now approve new drugs far faster. Overall, however, we have not made as much of these freedoms as we should have. 
Critics blame Brexit for Britain’s economic stagnation, but much of it stems from longer-term policies that have held back prosperity.
The preconditions for entrepreneurship are not new, nor are they particularly complicated. I recently co-authored a book with Dr. Arthur B. Laffer and others called <a href="https://www.amazon.co.uk/Prosperity-Through-Growth-Standards-Disinformation-ebook/dp/B0FP3WPW6Z/ref=sr_1_1?crid=RCU8GVEQ5895&amp;dib=eyJ2IjoiMSJ9.Qi7pfmaBWI3SOK7ThVB1F6kdMIM62-7Uwj6luPyjVkDKKI54VPK7IVlT1dVJfFQu.OQ-kNm7gXECxObiXcJrN6HqpotDFqUx2dulfB9kD06w&amp;dib_tag=se&amp;keywords=prosperity+through+growth">Prosperity Through Growth: Boosting Living Standards in an Age of Autocracy and AI.</a> We argue that growth requires low tax rates, low government spending, sound money, smart regulation, and free trade.
Ultimately, prosperity is generated not redistributed. The focus of economic policy should be incentivizing entrepreneurship rather than redistribution. Without economic growth, debates about inequality become zero-sum.
Britain’s problem isn’t that wealth is unevenly distributed. It is that the overall economic pie has grown too slowly for too long. And that pie is being cut into ever more pieces with the explosion of migration to the U.K.
This explains a paradox that defines modern Britain. All the fundamentals are there, but the incentives often discourage entrepreneurship. Inequality becomes more visible not because of a few too rich people but because the middle is comparatively squeezed.
Americans, on the other hand, enjoy higher median incomes. Take plumbers, for example, who earn $62,000 on average in America, compared to $43,000 in Britain. As President Kennedy once said, &#8220;A rising tide lifts all boats.&#8221;
The danger is that the debate remains focused on distribution rather than growth. Framing Britain as a country with a few very rich people and many struggling households risks misdiagnosing the problem.
A more accurate diagnosis is that Britain is an underperforming advanced economy. It has the capabilities to be significantly more prosperous than it currently is, but has failed to convert those capabilities into sustained growth.
The implication is straightforward. If Britain wants to meaningfully raise living standards, it must prioritize policies that incentivize growth.
The European Union referendum result reflected a demand for change. Whether that demand ultimately leads to greater prosperity depends not on the act of leaving the E.U., but on what we do with the freedoms that followed. Ironically, when critics of Brexit cite studies suggesting that the U.K. economy would be 8% bigger had it stayed in the E.U., those studies assume Britain would have grown at the same rate as the United States in the period since 2016. 
I look forward to seeing the British people enjoy the same pro-growth policies and prosperity that Americans enjoy.
* * *
Matthew Elliott is President of the Jobs Foundation and is a member of the House of Lords. He was also the Chief Executive of Vote Leave.

TOPSHOT-RACING-ENG-ASCOT

Britain Could Be Richer. It Keeps Choosing Not To Be.

Brexit

European Union

Great Britain

United Kingdom

The Treasury Department aims to curb financial illiteracy after devastating data reveals that over two-thirds of Gen Z cannot answer half the questions on the nation’s Personal Finance Index. 
In response, the Treasury Department is working to address widespread financial illiteracy, particularly among younger Americans. Marking the end of Financial Literacy Month, the Treasury Department welcomed schools from the Washington D.C. area into the historic Treasury Cash Room. The two schools competed in a contest where multiple-choice questions were presented on the screen, and the kids worked together to answer economy-based questions. 
One of the students told The Daily Wire that she plans to take the information she learned back home to share it with her parents.
The event was designed to draw attention to the Treasury Department’s efforts in improving financial literacy through the launch of Trump Accounts and other efforts like the U.S. Mint&#8217;s Coin Classroom, a free website that houses interactive games and videos that teach kids about money.
Treasury Secretary Scott Bessent emphasized that financial literacy is essential to achieving the American Dream. He argued that the Trump Accounts for children would not only create savings early in life but also teach financial literacy through a hands-on approach.
According to Bessent, kids and parents will be able to follow their Trump Accounts together through a mobile app that will teach them directly about how investments grow and compound. For the first 18 years of their lives, kids can watch their accounts and investments grow over time, ensuring an interactive and personalized financial learning experience. 
Surveys suggest that there is a strong demand among younger Americans for this type of education. A poll from Junior Achievement found that <a href="https://jagkc.org/68-percent-teens-want-financial-education/">68%</a> of teenagers want financial education, and a poll by Intuit shows 89% of parents believe personal finance should be a required high school course. 
Along with an education, the accounts also bring children into the ownership economy. “Trump Accounts represent the triumph of capitalism over socialism,” Bessent said. “Through Trump Accounts, our President is creating an ownership economy where all citizens become shareholders in America’s wealth.”
Sen. Ted Cruz (R-TX) echoed that sentiment, arguing the program could reshape how young Americans view capitalism.
“We have all seen the sad statistics of how many kids are losing faith in capitalism. Ten years from now, a little boy will pull out his phone and look at this app and he’s gonna see his Trump Account. Instead of thinking of big, bad scary corporations, that little boy is gonna say, I own $50 of Apple, I own $100 of Dell, I own $75 of McDonald’s … that will transform this country.” 
More than 5 million children have reportedly been enrolled in the program.

Group of people using smartphones outdoor, wide short low angle view

They Can Scroll All Day But Can’t Manage Money

Personal finances

Citadel CEO Ken Griffin has signaled he might nix his company’s $6 billion Midtown construction project over tax policy.
Citadel’s Chief Operating Officer Gerald Beeson slammed New York City Mayor Zohran Mamdani’s recent “Tax the Rich” video in which the mayor promoted a new tax policy, invoking Griffin as an example.
“It is shameful that he used Ken’s name as the example of those who supposedly aren’t carrying their fair share of the burdens associated with New York City’s often costly and wasteful spending,” said Gerald Beeson. “In doing so, the mayor has once again manifested the ignorance and disdain of the elite political class towards those who have been consistently committed to building one of the greatest cities in the world.”
If the company moves forward with the construction project, it is expected to create 6,000 high-paying jobs and support 15,000 permanent jobs in Midtown Manhattan, but a recent email to employees hinted it may be halted.
“The project—if we move forward—will entail more than $6 billion dollars of spending,” the email read.
Pershing Square Capital Management CEO Bill Ackman also weighed in, arguing that Griffin contributes significantly to the city without placing demands on its resources.
“Importantly, non-resident owners of NYC apartments who leave them vacant for much of the year are not a burden on NYC schools, services, or other resources, while they drive growth in retail sales, restaurants, theater, and other important sectors of our economy,” Ackman said. “They also often support NYC nonprofits with donations.”
Ackman concluded with a warning, saying the mayor’s policies “will harm the constituencies he is supposedly trying to help.”
Mamdani ran his campaign on taking wealth from the rich and redistributing it in the form of city services like free buses and free childcare.
Figuring out how to pay for these policies has led to challenges for Mamdani, as his authority to levy taxes ends at New York City’s property tax — though the mayor constantly lobbies New York Governor Kathy Hochul to raise taxes.
The pied-à-terre tax that Mamdani claimed would apply to properties like Griffin’s $238 million penthouse is an example of how the mayor is exploiting new revenue sources. The new tax will apply to homes in New York City valued over $5 million. It is expected to raise $500 million, which will allegedly help address the $5.4 billion deficit the city is currently facing.

NYC Mayor Zohran Mamdani Interview

68 Seconds And Taxpayers Are Out $6 Billion?

Bill Ackman

New York City

Politics

Taxes

Zohran Mamdani

A new poll finds that a plurality of Gen Z would hop in a time machine and leave their life behind as many young people grow disillusioned with modern technology and increasingly pessimistic about their economic futures.
If given the option, nearly half (47%) of 18-29-year-olds said they&#8217;d choose to live in the past, according to an <a href="https://www.documentcloud.org/documents/28059030-genz-nbc-news-decision-desk-poll-march-2026-topline/">NBC News Decision Desk Poll</a>. One in three surveyed said they’d pick a time period less than 50 years ago, while another 14% would choose more than 50 years in the past. Only 38% of young people said they’d prefer to live in the present.
Members of this generation, born in 1997 or later, yearn for an era “right before social media and computers mediated life,” Clay Routledge, a nostalgia researcher and existential psychologist, said in an <a href="https://www.nbcnews.com/politics/politics-news/discomfort-modern-technology-gen-z-desire-live-past-poll-rcna340897">interview with NBC News</a>.
Ben Isaacs, a 20-year-old Colorado student, said he’d choose to live in the 1990s, arguing smartphones are eroding young people’s ability to connect face-to-face and live beyond “the realm of the phone,” according to NBC.
The survey captures Gen Z’s deepening dissatisfaction with the country’s trajectory, social cohesion, and their financial futures.
A whopping 80% of Gen Z—more than any other generation—said the United States is headed in the wrong direction, according to the NBC poll, and 62% expect their lives will be worse than those of previous generations.
Plus, a majority rated the economy—especially inflation and the cost of living—as their top political concerns.
Artificial intelligence, which is transforming the higher education landscape and entry-level job market, is adding to the uncertainty and economic anxiety. <a href="https://news.gallup.com/poll/704087/college-students-weigh-impact-majors-careers.aspx">One in six college students</a> has changed their major because of AI, and 48% of Gen Z workers now say its negatives outweigh its benefits—an 11-point increase from 2025, according to a recent Gallup poll.
Unemployment among recent college graduates has risen since the pandemic, reaching 5.6% at the end of 2025 and extending well beyond the humanities, according to the <a href="https://www.newyorkfed.org/research/college-labor-market#--:explore:unemployment">Federal Reserve Bank of New York.</a> Computer engineering now has one of the <a href="https://www.newyorkfed.org/research/college-labor-market#--:explore:unemployment">highest unemployment rates</a> among college majors at 7.8%, a sharp reversal from 2021, when it ranked among the lowest at 3.2%.
Economic, cultural, and political turbulence is helping drive a cultural shift among some young people, especially men. Another Gallup poll released this month indicates that young men have become more religious in recent years.
<a href="https://news.gallup.com/poll/708410/young-men-religious-young-women.aspx">The survey</a>, released April 16, finds that 42% of men ages 18–29 now say religion is “very important” in their lives, up sharply from 28% in 2022–2023. Monthly religious attendance among young men also rose to 40% from 33%, the highest level in more than a decade, surpassing women for the first time.
&#8220;When there’s a lot of disruptions — political divisiveness, or, you know, worries about AI or other kinds of societal, technological or social, cultural changes — people tend to become more nostalgic for the past to help them with the things that they’re worried about,” <a href="https://www.nbcnews.com/politics/politics-news/discomfort-modern-technology-gen-z-desire-live-past-poll-rcna340897">Routledge told NBC</a>.

Teens in circle holding smart mobile phones – Multicultural young people using cellphones outside – Teenagers addicted to new technology concept

Why Gen Z Wishes They Could Time Travel

Gen Z

Polls

Social Media

U.S.

Some conservatives are pushing back against a possible federal government deal to avoid Spirit Airlines’ collapse, as the company struggles to emerge from bankruptcy.
The Trump administration is weighing a $500 million bailout that could result in the federal government taking a significant ownership stake in the budget airline, according to the <a href="https://www.wsj.com/business/airlines/trump-administration-nearing-rescue-deal-for-spirit-airlines-2f6a5556?mod=e2tw" target="_blank" rel="noopener">Wall Street Journal</a>.
Several Republican lawmakers blasted the idea.
“If Spirit’s creditors or other potential investors don’t think they can run it profitably coming out of its second bankruptcy in under two years, I doubt the US Government can either. Not the best use of taxpayer dollars,” Sen. <a href="https://x.com/SenTomCotton/status/2047075850386804756?s=20" target="_blank" rel="noopener">Tom Cotton</a> (R-AR) posted to X on Wednesday.
Sen. <a href="https://x.com/tedcruz/status/2047054442332029439?s=20" target="_blank" rel="noopener">Ted Cruz</a> (R-TX) described the proposal on social media as “an absolutely TERRIBLE idea.”
“The TARP corporate bailouts were a huge mistake &amp; the government doesn’t know a damn thing about running a failed budget airline (that the Biden admin killed),” he continued, referencing the 2008 recession-era Troubled Asset Relief Program.
Outside groups on the Right also weighed in. Advancing American Freedom, an organization aligned with former Vice President Mike Pence, released a memo slamming a possible deal.
“Why should taxpayers bail out one company that has been uniquely unprepared?” the memo asked. “American families shouldn’t be forced to bail out Spirit and the shareholders or pay the bill to see if the federal government can run an airline.”
Labor groups, however, expressed support for the potential federal assistance. The Air Line Pilots Association, International (ALPA), argued that federal intervention could protect jobs and stabilize the airline.
“Federal relief is not a handout,” said Capt. Ryan P. Muller, chair of the Spirit Airlines ALPA Master Executive Council (MEC). “It is a loan that will allow the airline to finish the work that is already well underway, and it is the right call for 14,000 workers, nearly 2,000 pilots, the families who depend on those paychecks, and the millions of passengers who rely on affordable air travel.&#8221;
On the Left, Sen. Elizabeth Warren (D-MA) blamed the war with Iran for the airline&#8217;s demise.
&#8220;Donald Trump’s war with Iran caused the sky-high fuel prices that finally did Spirit Airlines in. What do the American people get out of this taxpayer bailout? Will the failed airline executives be held accountable?&#8221; Warren <a href="https://x.com/SenWarren/status/2047057083950899338?s=20" target="_blank" rel="noopener">posted</a> on X.
The White House has not confirmed whether a bailout is on the table, but pointed to a Biden-era lawsuit that led to the rejection of the Spirit-JetBlue merger.
“Spirit Airlines would be on a much firmer financial footing had the Biden administration not recklessly blocked the airline’s merger with JetBlue,” White House Spokesman Kush Desai said in a statement.
President Donald Trump told CNBC’s “<a href="https://www.cnbc.com/2026/04/21/cnbc-transcript-president-donald-trump-speaks-with-cnbcs-squawk-box-today-.html" target="_blank" rel="noopener">Squawk Box</a>” that he would prefer a private-sector solution, saying he would &#8220;love somebody to buy Spirit, it’s 14,000 jobs.&#8221;
Economist Peter St. Onge of The Heritage Foundation told <a href="https://www.dailywire.com/news/did-joe-biden-kill-spirit-airlines?author=Cameron+Arcand&amp;category=News&amp;elementPosition=3&amp;row=0&amp;rowType=Vertical+List&amp;title=Did+Joe+Biden+Kill+Spirit+Airlines%3F" target="_blank" rel="noopener">The Daily Wire</a> that the merger likely led to the airline&#8217;s decline.
“The main thing that drove them over the edge was blocking the JetBlue merger,&#8221; St. Onge said. &#8220;On the day that it was denied, their stock fell 47%. And the big picture here is that the low-cost carriers can’t pass anything on, right? They have razor-thin margins, like 2 or 3%. So they need scale in order to survive.”

Airplanes Depart

Not Everyone Is On Board With Using Your Money To Bail Out A Failing Airline

Air Travel

Bailouts

Conservatives

Spirit Airlines

Travel

The Trump Administration may offer Spirit Airlines a $500 million financial lifeline as the carrier teeters on the brink of collapse, according to reports. 
The federal government is considering providing the airline with a convertible financing facility that would allow it to convert debt into equity. According to Bloomberg, the arrangement could give the government the option to acquire a significant ownership stake in the airline, potentially as much as 90% of a restructured entity. 
Transportation Secretary Sean Duffy and Commerce Secretary Howard Lutnick are leading the talks and reportedly met with President Donald Trump on Tuesday night to discuss the proposal. 
Trump signaled support for potential federal assistance earlier this week, saying, “Maybe the federal government should help that one out,” while raising concerns about the possible loss of roughly 14,000 jobs.
Spirit Aviation Holdings Inc.’s shares jumped more than <a href="https://finance.yahoo.com/quote/FLYYQ/">500%</a> following reports of the potential deal.  
Spirit&#8217;s financial troubles date back several years, and the airline has accumulated more than <a href="https://www.wsj.com/finance/spirit-airlines-reaches-deal-with-creditors-to-emerge-from-bankruptcy-4b1ddcee">$7 billion</a> in debt. A planned $3.8 billion acquisition by JetBlue in 2022 was ultimately blocked by the Biden administration&#8217;s Department of Justice and later upheld by a federal judge in 2024. Former Attorney General Merrick Garland <a href="https://www.justice.gov/archives/opa/pr/justice-department-statements-jetblue-terminating-acquisition-spirit-airlines?utm_source=chatgpt.com">described</a> the acquisition’s termination as a “victory on behalf of the American consumer,” arguing the merger would lead to increased fares for customers.
More recently, rising fuel costs tied to the war in Iran have added pressure, with JPMorgan analysts estimating those expenses could increase by as much as <a href="https://www.wsj.com/business/airlines/struggling-spirit-airlines-in-talks-with-trump-administration-on-government-investment-0db4f169">$360</a> million.
If negotiations pan out, Spirit Airlines will join a growing list of private companies in which the United States has taken a financial stake in recent years, including Intel, MP Materials, Lithium Americas, Trilogy Metals, and a &#8220;golden share&#8221; in U.S. Steel, recently acquired by Japan’s Nippon Steel.

airplane

Trump Admin Eyes Big Move To Save Struggling Airline

According to the Wall Street Journal, the antitrust division of the U.S. Department of Justice is <a href="https://www.wsj.com/politics/policy/justice-department-is-criminally-investigating-beef-companies-1f91a3c6">investigating</a> whether meatpackers engaged in criminal antitrust conduct. Last November, as consumer beef prices continued climbing, President Trump called upon the DOJ to investigate the practices of meatpackers.
Beef is among America’s most important protein sources, and understanding how beef makes its way to the grocery store reveals why consumers at the end of the beef supply chain and farmers and ranchers at its beginning are highly susceptible to foul play.
Think of the beef supply chain as a sand-filled hourglass. The sand-filled top represents the start of the beef supply chain, with the sand itself representing hundreds of thousands of widely dispersed, independent, family-scale cattle farmers and ranchers scattered across America. Now cattle grow slowly, and from the time they are born until they reach their optimal slaughter weight takes upwards of two years.
As the cattle grow, they flow downstream in the hourglass and are eventually transported from their distant, wide-open grassy birthplaces to large pens called feedlots, where they are congregated. Most feedlots are in the central and southern plains regions of the United States, and when cattle arrive, they are fed a highly concentrated diet that fattens them to slaughter weight.
<div id="attachment_1082193" style="width: 874px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-1082193" class="size-large wp-image-1082193" src="https://dw-wp-production.imgix.net/2026/04/GettyImages-1230785175-864x576.jpg" alt="A heifer and her calf in a field at the Barthle Brothers Ranch in Dade City, Florida, U.S. on Friday, Jan. 22, 2021. Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on January 1, 2021. The inventory was slightly above January 1, 2020, The United States Department of Agriculture (USDA) reported. Photographer: Ty Wright/Bloomberg via Getty Images" width="864" height="576" srcset="https://dw-wp-production.imgix.net/2026/04/GettyImages-1230785175-864x576.jpg 864w, https://dw-wp-production.imgix.net/2026/04/GettyImages-1230785175-300x200.jpg 300w, https://dw-wp-production.imgix.net/2026/04/GettyImages-1230785175-768x512.jpg 768w, https://dw-wp-production.imgix.net/2026/04/GettyImages-1230785175.jpg 1024w" sizes=" (max-width: 864px) 100vw, 864px" />Ty Wright/Bloomberg via Getty Images</div>
When fed to their optimal weight, these slaughter-ready cattle are offered for sale to the beef packers at the choke point of the hourglass, as here there are just four dominant beef packers who purchase and control 80% of the 25 million or so slaughter cattle entering the choke point each year. Of course, these same dominant packers also control 80% of the resultant beef that passes on through the choke point, which they then sell to grocery stores scattered across America for ultimate purchase by consumers.
It is at this highly concentrated and centralized choke point — the point at which the dominant beef packers purchase cattle from the feedlots and convert them into consumable beef — that foul play can cause harm to the cattle farmers and ranchers above the pinch point and consumers below.
For example, if the concentrated beef packers unlawfully collude by agreeing to reduce the number of cattle they will collectively slaughter, cattle will back up in the supply chain above the choke point, effectively reducing demand for cattle and lowering their prices paid to cattle farmers and ranchers. Because slaughtering fewer cattle will result in less beef, reducing the number of cattle the beef packers will collectively slaughter will reduce the available beef supply below the choke point, causing beef prices to increase.
Now it could be argued that colluding to lower cattle prices could result in lower consumer beef prices if the dominant beef packers were to pass their cost savings on to retailers, and ultimately consumers. But history shows otherwise.
Going back for more than four decades, the spread between the prices that farmers and ranchers receive for their cattle and the retail prices that consumers pay for beef has grown increasingly wider. This suggests that firms standing between America’s cattle ranchers and America’s consumers are somehow capturing artificially high profits along the beef supply chain.
How these supra-competitive profits are being extracted from the beef supply chain and by whom is likely a central focus of the DOJ’s ongoing antitrust investigation.
<div id="attachment_1082197" style="width: 932px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-1082197" class="size-large wp-image-1082197" src="https://dw-wp-production.imgix.net/2026/04/GettyImages-2270117676-922x576.jpg" alt="LOS ANGELES, CALIFORNIA - APRIL 06: Beef ribeye steaks are displayed at a grocery store on April 06, 2026 in Los Angeles, California. Amid persistently high food inflation, the price of a pound of ground beef has risen to between roughly $6.49 and $8.96, often exceeding the federal minimum wage of $7.25 an hour, as supply shortages, drought, and disease affecting cattle herds drive costs higher while wages remain unchanged since 2009. (Photo by Justin Sullivan/Getty Images)" width="922" height="576" srcset="https://dw-wp-production.imgix.net/2026/04/GettyImages-2270117676-922x576.jpg 922w, https://dw-wp-production.imgix.net/2026/04/GettyImages-2270117676-300x188.jpg 300w, https://dw-wp-production.imgix.net/2026/04/GettyImages-2270117676-768x480.jpg 768w, https://dw-wp-production.imgix.net/2026/04/GettyImages-2270117676.jpg 1024w" sizes=" (max-width: 922px) 100vw, 922px" />Justin Sullivan/Getty Images</div>
During the past six years, several private class action antitrust lawsuits have been filed against the four largest beef packers operating in the United States – Tyson, JBS, Cargill, and National Beef Packing Company, alleging they had colluded to suppress cattle prices while simultaneously inflating beef prices. These civil antitrust lawsuits have alleged harm to virtually every segment of the beef supply chain, from cattle farmers and ranchers who sold cattle to the beef packers to consumers, distributors, and retailers who directly or indirectly purchased beef from the dominant beef packers. These private civil actions are still working their way through the court system and have so far resulted in settlements of over $170 million.
In at least one of these civil lawsuits, it is alleged that the dominant packers unlawfully colluded to suppress cattle prices from mid-2015 through early 2020. During that period, retail beef prices trended markedly upward while cattle prices trended downward, an anomaly signaling market failure in the beef supply chain, particularly since the only source of beef is cattle.
The question of whether beef packers engaged in unlawful antitrust conduct will be answered upon the completion of the numerous civil lawsuits pending against them and the result of the DOJ investigation. The outcome of the DOJ investigation alone will determine if principals representing the beef packers also engaged in criminal antitrust conduct.
* * *
Bill Bullard is the CEO of R-CALF USA in Billings, Montana.

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