It’s hard to comprehend the true scale of the fiscal disaster in Washington D.C. While most Americans feel the impact when gas or milk prices increase by even a nickel, Washington borrows almost $5 billion a day without batting an eye.
The difference between the ridiculous $18.1 trillion in debt from back in 2015 and the ludicrous $39 trillion debt of today seems inconceivable. Numbers this big just don’t seem real.
But if we think of our federal government finances in terms of a family budget, the problem becomes much clearer. So let’s talk about a hypothetical family – The Havernots. The Havernot family earns just under $66,000 a year, which is the same as the average American worker. That equates to a weekly paycheck of $1,266 or monthly earnings of $5,486, before taxes and other deductions.
Most families budget their income and expenses in a responsible manner – carefully allocating their money to basic necessities like housing, utilities, and groceries, while saving what they can for other purposes like retirement, unexpected expenses, and the occasional vacation. That’s the responsible way to manage your finances.
But that’s not how the Havernots live. They spend money in the same manner as the federal government. So for the purposes of this example, we have scaled down the federal government’s income (primarily tax collections) and expenditures (outlays for government programs and, increasingly, interest on the national debt), to match the Havernots&#8217; financial situation.
Once again, the Havernots earn nearly $66,000 and, like the federal government, spend far more than they bring in. In proportion to the federal government, they spend just over $86,500 a year, meaning they have to borrow more than $20,500 annually to cover their expenses. On a monthly basis, the Havernots bring in almost $5,500 while spending a little more than $7,200 a month, a recipe for financial disaster.
Of course, like the federal government, they’re already saddled with a hefty amount of debt due to many prior years of fiscal irresponsibility. The federal government is approaching $39 trillion in debt. That equates to a current debt burden of over $373,000 for the Havernots.
If, like the Havernots, you are currently $373,000 in debt and are adding $20,500 to that debt load each year, you had better have a good plan in place to get your finances in order, with Dave Ramsey on speed dial.
Unfortunately, that’s not the case for the federal government. Looking at projected finances for the federal government, things are going to get much, much worse. On a positive note, government revenue collections are projected to increase by 49.7% over the next ten years, and expenditures are expected to grow by 53.6% over that same period. The total federal debt will grow by 76%.
That means the outlook for the Havernots is equally depressing. Looking down the road 10 years, their income would increase from $66,000 to just over $98,500, which is great news. Until you realize that their annual expenditures grow from about $86,500 to about $132,950 over that same period, forcing them to borrow more than $46,000 annually. And their total debt burden has grown from $373,000 to more than $656,500. This is an unsustainable trajectory for the Havernots.
The silver lining for the Havernots is that some of their spending is being used to improve their financial standing. For instance, by steadily paying off their auto loan and mortgage, the Havernots will, in time, fully own their car and home. But the debt our nation is racking up isn’t putting us on a path to homeownership; it’s careening us toward homelessness.
The Havernot family’s disastrous situation should make it clear: President Trump and Congress need to work quickly to turn our nation’s finances around. There is no magic wand or silver bullet to reverse decades of fiscal irresponsibility, but there is hope.
The best option is a Balanced Budget Amendment to the U.S. Constitution, as it would guard against the gimmicks and end-arounds that Congress regularly employs to skirt budgetary restraints.
A second-best option is creating a bipartisan debt reduction commission with the ability to push an aggressive plan directly to the floor of the House and Senate for a vote.
No matter the approach, it’s imperative for everyday Americans to make their voices heard in Washington if things are ever going to change.
And policymakers – just like the Havernots – need to gather around the kitchen table for an honest conversation about our current predicament and a sincere attempt at doing the right thing.
* * *
Brandon Arnold is Executive Vice President of National Taxpayers Union.
The views expressed in this piece are those of the author and do not necessarily represent those of The Daily Wire.

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What America’s $39 Trillion Debt Looks Like On A Family Budget

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Dave Ramsey

Economy

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Opinion

Starbucks founder Howard Schultz joins the growing list of billionaires moving to Florida — a move that is quickly becoming a trend. In past two months alone, Meta CEO Mark Zuckerberg, Google CEO Sergey Brin, former Google CEO Larry Page, and now Howard Schultz have announced their migration to Miami. 
Schultz has lived in Seattle since 1979, where he built Starbucks into a global brand. The billionaire says he&#8217;s making the move in order to pursue his next adventure. 
“We [Schultz and his wife, Sheri Schultz] have moved to Miami for our next adventure together. We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own,&#8221; he explained.
After 44 years in Seattle, Schultz — worth $6.6 billion — will settle into a <a href="https://www.forbes.com/sites/maryroeloffs/2026/03/11/starbucks-billionaire-howard-schultz-paid-44-million-for-florida-penthouse/">$44 million penthouse</a> at the Surf Club, Four Seasons Private Residences in Surfside, about fifteen miles from Miami. The five bedroom penthouse is 5,500 square feet and has a rooftop terrace. While his nonprofit, the Schultz Family Foundation, will remain in Seattle, his family office will relocate with him. 
Schultz’s announced his decision on the same day that the Washington State House of Representatives approved a new millionaire tax. The measure passed 52-46 on Wednesday and advanced to the Senate. If it passes, Washington will lose its status as one of the nine states without an income tax. The legislation would impose  a 9.9% tax on income for earners making above $1 million. Washington policymakers argue that only <a href="https://www.forbes.com/sites/nathangoldman/2026/03/11/washingtons-99-millionaire-tax-raises-fears-of-wealthy-exodus/">0.5%</a> of tax payers would be subject to the new levy. 
State Rep. Ed Orcutt, one of the 46 legislators who voted against the bill <a href="https://edorcutt.houserepublicans.wa.gov/2026/01/21/rep-ed-orcutt-explains-why-he-opposes-a-new-state-income-tax/">said</a>, “The problem is overspending. There is no tax or combination of taxes that can keep up with a legislature that continually overspends revenue.”
Schultz did not mention the tax in his announcement, much like Amazon CEO Jeff Bezos did not mention the Washington State <a href="https://www.theguardian.com/technology/2024/feb/13/jeff-bezos-florida-taxes#:~:text=But%20on%20Tuesday%20the%20financial%20news%20network,stocks%20or%20bonds%20of%20more%20than%20$250%2C000.">7%</a> capital gains tax — on sales of stocks and bonds exceeding $250,000 — when he decided in 2023 to leave Seattle for Miami. Like Schultz, Bezos cited only personal reasons.
In recent years, a growing number of CEOs have relocated from blue to red states. But while Schultz is moving to a red state, his political views lean left. In 2019, during a media tour for a potential 2020 Presidential run, Schultz said, &#8220;I should be paying more taxes. And more people who make this kind of revenue, and are of means, should be paying more taxes.&#8221;
That same night, Schultz also said, &#8220;No one wants to see him [Donald Trump] fired more than me.&#8221;
Starbucks is also relocating to the south — and to a red state as well. The company announced the move to Nashville, Tennessee, in the beginning of March describing it as part of a broader plan to expand across North America and “establish a strategic presence in the Southeast region of the United States.” 
Justin Owen, the President &amp; CEO of the think tank, Beacon Center of Tennessee, welcomed the decision. 
“We welcome all businesses to the free state of Tennessee. We encourage them to remember and embrace why they came here: our low tax, low regulation, pro-worker freedom environment,” Owen said.

Starbucks Holds Annual Shareholders Meeting

Starbucks Founder Howard Schultz Is Latest Billionaire To Move To Florida

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Politics

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Inflation held steady at <a href="https://www.bls.gov/news.release/cpi.nr0.htm">2.4%</a> in February, according to new data released Wednesday by the Bureau of Labor Statistics. 
While inflation remains above the Federal Reserve&#8217;s 2% target, it is significantly lower than levels seen during the height of the post-pandemic surge.
Energy prices rose <a href="https://www.bls.gov/news.release/cpi.nr0.htm">0.6%</a> in February after falling <a href="https://www.bls.gov/news.release/cpi.nr0.htm">1.5%</a> in January, driven by higher gasoline and natural gas prices, while electricity declined. Because the United States entered the conflict with Iran on the final day of February, the recent surge in oil prices is not reflected in the latest inflation data. Oil was trading around $70 per barrel before the conflict and is now in the mid-$80 range.
Core inflation, which excludes volatile food and energy prices, remains relatively stable, reinforcing the broader trend of moderating price growth.
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Inflation under Joe Biden reached 9.1%, the highest in half a century.
Under President Trump, inflation is down and holding steady! <a href="https://t.co/NzbKAxFmt6">pic.twitter.com/NzbKAxFmt6</a>
— GOP (@GOP) <a href="https://twitter.com/GOP/status/2031726335274492371?ref_src=twsrc%5Etfw">March 11, 2026</a></blockquote>
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Inflation peaked at 9.1% in 2022 during the Biden administration before gradually cooling the past two years.
Earlier this week, oil briefly spiked to around $120 per barrel — its highest level since 2022 — before retreating after President Donald Trump said “the war is very complete” and signaled he was considering U.S. control of the Strait of Hormuz, which carries roughly one-fifth of global oil supply. 
Food prices rose <a href="https://www.bls.gov/news.release/cpi.nr0.htm">0.4%,</a> and shelter increased <a href="https://www.bls.gov/news.release/cpi.nr0.htm">0.2%</a>. Gains were driven largely by higher prices for candy, fruit, and vegetables. Notably, egg prices, often cited as a grocery barometer, have fallen 42.1% over the past year. 
Stocks and bonds reacted modestly, with futures largely flat. Many financial analysts are now looking to the March Consumer Price Index report for a clearer picture of how geopolitical tensions might influence prices. 
New York Fed President John Williams said the Iran conflict could affect near-term inflation but that its lasting impact will depend on how long it persists. “Something that would obviously affect kind of a nearer-term inflation outlook. We&#8217;ll have to see how persistent this is and how long this is, but it would have an effect on overall inflation.&#8221;

Inflation

Inflation Held Steady Before Iran Operation Fueled Energy Prices

U.S.

Oil prices jumped above $100 per barrel Monday as President Donald Trump promised prices would drop after the joint U.S.-Israeli military operation targeting Iran&#8217;s &#8220;nuclear threat&#8221; concludes. 
Global benchmark Brent crude <a href="https://www.marketwatch.com/investing/future/brn00?countrycode=uk&amp;gaa_at=eafs&amp;gaa_n=AWEtsqe4k1-WtbbEc0_rDe9RmjIzBeQ_NbvsmIuohb4DQSo55Be0bfuc1Ez2yJhY6Pc%3D&amp;gaa_ts=69a5b024&amp;gaa_sig=kegHiaf_xsPW94kPXb2xUx2YgsMT9F6cMvHsnXelmzUTlyMm_8GalBG_mAiBT6m4gV0Q7YYn6j8miOFnbJ_EGA%3D%3D">rose</a> as high as $118 per barrel Monday morning before retreating to around $104, more than $10 above Friday&#8217;s close. It marked the first time Brent has surpassed $100 per barrel since the fall of 2022. 
The operation against Iran and the regime&#8217;s response have disrupted oil tanker traffic through the Strait of Hormuz. Trump said on Sunday night that the oil prices would drop as soon as Iran’s nuclear capabilities were completely destroyed. 
“Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!” Trump wrote on Truth Social. 
According to AAA, the national average for gasoline <a href="https://gasprices.aaa.com/">rose</a> from $2.99 per gallon one week ago to $3.47 on Monday. 
Iran has launched attacks on regional oil facilities, including the Ras Tanura refinery run by Aramco in Saudi Arabia which produces around 550,000 barrels of oil per day. Aramco shut down the facility as a precautionary measure after an Iranian drone attack. 
An Iranian drone attack on Monday appeared to target Bahrain’s Bapco oil refinery, the country’s top oil facility, Reuters reported. 
Over the weekend, Israel carried out strikes targeting Iran’s oil facilities outside of Tehran saying they were used to fuel its military. 
Last week, Trump said he would direct the United States Development Finance Corporation to provide political risk insurance to oil tankers operating near Iran and suggested the U.S. Navy could protect tankers sailing through the Strait of Hormuz. 
“If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible. No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD,” Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/116166926920657651">said</a> on Truth Social. 
Iran threatened Trump on Friday over the potential Navy escorts. 
&#8220;Iran strongly welcomes the escort ​of oil tankers and that U.S. ​forces will be there for the crossing of the ‌Strait ⁠of Hormuz. And we are, by the way, awaiting their presence,&#8221; <a href="https://www.reuters.com/world/middle-east/irans-guards-challenges-trump-have-us-navy-escort-oil-tankers-strait-hormuz-2026-03-06/">said</a> Iranian Revolutionary Guard spokesman Alimohammad Naini. &#8220;We recommend that, before making any ​decision, the Americans ​remember ⁠the fire on the American supertanker Bridgeton in 1987 and the ​oil tankers that were recently ​targeted.”
American and Israeli strikes on Iran have continued over the weekend ⁠with no clear timeline for when the operation will conclude. Military officials have said that the campaign will end once Iran&#8217;s nuclear and missile production capabilities are destroyed.

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Trump Reminder To Americans As Oil Prices Open Higher While U.S. Crushes Iran’s Evil Regime

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Executive

Iran

The IRS and the Department of Treasury released a series of rules regarding eligibility and procedures for Trump Accounts yesterday.
Under the Trump Accounts, which were part of the “Big, Beautiful Bill,” the federal government will mark the birth of U.S. citizens by depositing $1,000 into a deferred, low-cost index fund, The Daily Wire previously <a href="https://www.dailywire.com/news/trump-announces-1000-newborn-baby-investments-in-big-beautiful-bill">reported</a>. While the accounts start at $1,000, families and others can contribute up to $5,000 total per year per child, including employer contributions.
Parents have until Dec. 31 of the calendar year in which their child turns 17 to open the initial account, the IRS said in a press release.
“Trump Accounts are a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up this generation and generations to follow and unlock the American Dream,” IRS Chief Executive Officer Frank J. Bisignano said in the release. “Creating Trump Accounts was one of the most important provisions in President Trump’s historic One, Big, Beautiful Bill, and these regulations are an example of the hard work of Treasury and the IRS in developing the guidance needed to ensure that eligible families can take advantage of Trump Accounts.”
Parents can open the account with Form 4547 when filing taxes or through a separate <a href="https://form.trumpaccounts.gov/">online portal</a>, the IRS said. Instructions for opening an account can be found <a href="https://www.irs.gov/pub/irs-pdf/i4547.pdf">online</a>. The IRS said the person who opens the account will be responsible for it.
For a child to be eligible for the accounts, he must have been born between 2025–2028, be a U.S. citizen, and have a valid Social Security number.
Parents can choose to receive the initial $1,000 when they open the account. If they choose not to claim it then, individuals who can claim the pilot amount are, in order: a legal guardian, a parent, an adult sibling, and a grandparent.
“It is a trust fund, a piece of the American economy for every child that they will be able to take out when they are 18, or they could convert it to a more IRA-type program,” Treasury Secretary Scott Bessent <a href="https://www.dailywire.com/news/the-secret-weapon-that-will-supercharge-the-trump-accounts-for-newborns">said</a> in December.
In February, Bessent said about two million forms for three million children have been filed for the Trump Accounts, <a href="https://www.cnbc.com/2026/02/20/trump-accounts.html">according</a> to CNBC.
“They’ll be getting a big jump on life,” President Donald Trump said last year of the babies benefitting from the accounts.
The program will officially launch in July 2026.

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Trump Accounts Move Forward: IRS Releases Rules For $1K Baby Investment Program

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Battered by COVID-era inflation, many Americans are understandably concerned about the impact of another war on their finances – but data suggests American bank accounts won&#8217;t become casualties.  
Energy affects the price of everything, and missiles are flying in a region that produces a third of global oil exports. If supply is constrained, prices will increase, but the current global supply is better positioned than in the past. 
Global inventories are currently around 6.5 billion barrels of oil, the highest level this decade. The world consumes only 1.57% of that total each day. Middle Eastern oil production is at one of its low points. During the 1970s energy crisis, the region produced about 55% of the world’s oil. Today, the share is 35%.
In <a href="https://ourworldindata.org/data-insights/the-united-states-is-the-worlds-largest-oil-producer">2018</a>, the United States became the world’s largest oil producer, dethroning Russia and Saudi Arabia thanks to the shale revolution of the late 2000s. The revolution was driven by a technological advancement that combined fracking and horizontal drilling, allowing the US to unlock oil that was previously unreachable. 
The Daily Wire reviewed data from a leading Wall Street bank that concluded the high inventory and increased oil production from the United States would help offset costs from elevated oil prices. In an analysis of 21 previous air strikes in the region, the bank found that there was typically an initial spike in oil prices that subsided over the following two months. 
So far, markets are tracking that historical pattern. This month, Brent crude and West Texas Intermediate (WTI) are up roughly <a href="https://finance.yahoo.com/quote/BZ=F/">15%</a> in the days following Saturday’s strikes. The bank concluded a sustained increase in oil prices would raise headline inflation by 0.2%, a drop in the bucket compared to what consumers experienced from 2022 to 2024. 
The bank also predicts that GDP growth will drop by less than a tenth of a percent for the year. Experts attribute the Fall government shutdown to a 0.06 to 0.12 percentage-point loss in GDP. 
Beyond oil, the bank&#8217;s data also showed promising expectations for the broader market. After eight weeks, gold, the U.S. dollar, and 10-year Treasury bonds posted gains in most instances, and U.S. equities were higher in 20 of the 21 cases. Despite initial declines from the strikes, US large-cap equities are still hovering around all-time highs with earnings beating analyst expectations for the fourth quarter by 6% and high expectations for 2026.  
Even JP Morgan’s Jamie Dimon, Wall Street&#8217;s designated worrier, is expressing calm: “The economy is not often driven by something like that unless it is prolonged.” 
What Dimon did warn about back in 2022, however, was cumulative inflation. &#8220;Inflation is eroding everything I just said,” <a href="http://said">said </a>Dimon. “When you’re looking out forward, those things may very well derail the economy and cause a mild or hard recession that people worry about.”
A sustained conflict could alter the outlook, though. A fifth of global oil and LNG flows through the Strait of Hormuz, and analysts predict triple-digit oil prices if Gulf production halts. Trump has floated the idea of using the US Navy to accompany ships traveling through the strait to mitigate that risk.
Dr. Wayne Winegarden, a senior fellow at the free-market think tank Pacific Research Institute, echoed a measured view in comments to The Daily Wire.
&#8220;If prices stay around $80 a barrel and supplies don&#8217;t get more constrained, over the next two months it could be painful but it would not be a barnburner. However, the severe effect would be prices going up to $90 a barrel and they stay there for a year.&#8221;
Winegarden explained that a significant loss of Gulf production would force more countries back into the global market for supply, driving prices higher. However, he added that higher prices would also incentivize producers elsewhere to ramp up output, increasing supply over time and helping stabilize the market.

Should Your Wallet Panic Over The Iran War? What History Shows

Energy

The job market just delivered a reality check.
Instead of the job gains economists were expecting, the U.S. economy lost 92,000 jobs in February, according to new federal data. Forecasters had predicted employers would add about 50,000 jobs. The unemployment rate also ticked up to 4.4%, signaling the labor market may be cooling after several years of strong hiring.
The weaker-than-expected report comes as businesses face a mix of economic uncertainty and rapid technological change that is beginning to reshape hiring across several industries.
One bright spot in the report was wages. Average hourly earnings for private-sector workers rose by 15 cents in February, continuing a recent trend of steady wage growth that has helped many workers keep pace with inflation.
The federal government workforce continued shrinking, shedding another 10,000 jobs last month. Since October, federal employment has declined by roughly 333,000 positions, reflecting ongoing efforts to reduce government payrolls.
And the job losses weren’t limited to just one corner of the economy.
Healthcare, which saw strong hiring in January, lost 28,000 jobs, with strike activity cited as the primary driver behind the decline.
Transportation and warehousing also fell by 11,000 jobs, concentrated among couriers and messengers — a category that includes major delivery companies such as UPS and FedEx. UPS recently announced plans to reduce its workforce as part of a broader restructuring effort.
The information sector, which includes telecommunications companies, cloud services, digital media, and publishing, also declined by 11,000 jobs.
Some areas did see modest gains. Social assistance, which includes services supporting families, children, seniors, and vulnerable populations, added 9,000 jobs in February.
Meanwhile, employment in construction, manufacturing, retail, financial services, and hospitality showed little change during the month.
In short, the hiring boom may finally be slowing down.
Economists and employers say a mix of economic uncertainty, automation, and rapid advances in artificial intelligence is increasingly shaping hiring decisions across the economy.

Top view of warehouse worker using laptop to check location of goods.

The Job Market Delivers A Surprise Economists Didn’t See Coming

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Block, the parent company of Cash App and Square, announced Thursday it will be laying off more than 4,000 employees — a move that sent the company&#8217;s stock up 25% in after-hours trading.
For most companies, laying off nearly half the workforce would send stockholders into a panic, tanking the stock within minutes of the announcement. But in 2026, investors in Block appear to have the opposite perspective — viewing humans as a liability in the modern economy, thanks in large part to the AI revolution.
Block CEO Jack Dorsey <a href="https://x.com/jack/status/2027129697092731343?s=20">said</a> in a statement on X that the layoffs did not happen “because we&#8217;re in trouble,” but rather because “something has changed.”
“We&#8217;re already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company [sic]. and that&#8217;s accelerating rapidly,” Dorsey said.
Dorsey viewed job cuts resulting from AI implementation as inevitable and chose to rip off the band-aid.
“i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now [sic]. i chose the latter,” Dorsey said. “repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead [sic].”
The layoffs are part of a broader shakeout in tech, where companies including Salesforce, CrowdStrike, Pinterest, and Chegg are shedding workers as AI absorbs key functions.
In a letter to shareholders, Dorsey predicted that, within the next year, “the majority of companies will reach the same conclusion and make similar structural changes.”
Block’s Q4 <a href="https://s29.q4cdn.com/628966176/files/doc_financials/2025/q4/Q4-2025-Shareholder-Letter_Block.pdf">numbers</a> were otherwise in the green, with gross profit increasing 24% year-over-year. Block CFO Amrita Ahuja told investors that the cuts are necessary “for our next phase of long-term growth.”
&#8220;We are choosing to shift how we operate at a time when our business is accelerating and we see an opportunity to move faster with smaller, highly talented teams using AI to automate more work,&#8221; Ahuja said.

Business investment and AI artificial intelligence data analysis technology. Businessman and robot future investor, stock market, forex, and crypto currency finance investment.

4,000 Jobs Gone — So Why Does The Market Love It?

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Stock Market

The across-the-board global tariff imposed by President Donald Trump took effect on Tuesday at 10%, lower than the 15% rate the president said would be implemented. 
A <a href="https://content.govdelivery.com/bulletins/gd/USDHSCBP-40b3b7b">bulletin</a> issued Tuesday by Customs and Border Protection announced an “additional 10% ad valorem duty on imported articles of every country for a period of 150 days, unless specifically exempt.” The notice comes just days after Trump <a href="https://www.dailywire.com/news/trump-hikes-his-new-tariffs-to-15-after-complete-review-of-scotus-decision?author=Mary+Margaret+Olohan&amp;category=News&amp;elementPosition=2&amp;row=0&amp;rowType=Vertical+List&amp;title=Trump+Blasts+Past+Original+Tariff+Vow+After+Supreme+Court+Ruling">said</a> that he would raise the global tariff rate to 15% “effective immediately.” 
“Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,&#8221; Trump wrote on Truth Social. 
<a href="https://www.dailywire.com/show/friendly-fire?utm_campaign=dwplus&amp;utm_content=20260224_sotu_aa_desktop&amp;utm_medium=website&amp;utm_source=banner" target="_blank" rel="noopener noreferrer" data-sk="tooltip_parent">Watch the State of the Union with The Daily Wire! Live coverage from the nation&#8217;s capital begins at 7:45 ET.</a>
A White House official <a href="https://www.nbcnews.com/politics/trump-administration/trump-global-tariff-start-10-percent-despite-announcement-15-percent-rcna260369">told</a> NBC News that the rate would start at 10% while officials prepare a separate executive order to increase it to 15%. The Daily Wire has reached out to the White House for clarification on the tariff rates. 
The Customs and Border Protection bulletin cited an <a href="https://www.whitehouse.gov/presidential-actions/2026/02/imposing-a-temporary-import-surcharge-to-address-fundamental-international-payments-problems/">executive order</a> Trump signed Friday after the Supreme Court struck down his &#8220;Liberation Day” tariffs, which had been imposed under the International Economic Emergency Powers Act (IEEPA). 

“I find that a surcharge in the form of ad valorem duties on certain imports is required to deal with the United States’ large and serious balance-of-payments deficit,” Trump wrote. “Accordingly, I impose, for a period of 150 days, a temporary import surcharge of 10 percent ad valorem, as described below, on articles imported into the United States, effective February 24, 2026.”
Products exempt from the tariffs include certain critical minerals, metals used in currency, energy and energy products, certain agricultural products, pharmaceuticals, certain electronics, and some passenger vehicles. 
These tariffs were imposed under Section 122 of the Trade Act of 1974, which authorizes the president to address “certain fundamental international payment problems through surcharges and other special import restrictions.”
The Supreme Court ruling has led to uncertainty surrounding Trump’s broader economic agenda. On Monday, the European Union <a href="https://www.dailywire.com/news/eu-pauses-trade-deal-after-trump-warns-countries-not-to-play-games?topStoryPosition=undefined&amp;author=Leif+Le+Mahieu&amp;category=News&amp;elementPosition=2&amp;row=1&amp;rowHeadline=Top+Stories&amp;rowType=Top+Stories&amp;title=EU+Pauses+Trade+Deal+After+Trump+Warns+Countries+Not+To+‘Play+Games’">moved</a> to pause adoption of a trade deal with the United States that had been negotiated under Trump’s IEEPA tariffs.

President Trump Holds Press Briefing On Supreme Court’s Decision To Strike Down His Global Tariffs

Trump’s Global Tariffs Kick In At Lower Rate Than Expected

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WASHINGTON — President Donald Trump announced on Saturday that he will hike his worldwide tariffs to 15% after a &#8220;complete review&#8221; of the Supreme Court decision blocking his tariffs on Friday.
&#8220;Based on a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Tariffs issued yesterday, after MANY months of contemplation, by the United States Supreme Court, please let this statement serve to represent that I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been &#8216;ripping&#8217; the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,&#8221; said Trump in a Saturday morning Truth Social post.
The president added: &#8220;During the next short number of months, the Trump Administration will determine and issue the new and legally permissible Tariffs, which will continue our extraordinarily successful process of Making America Great Again &#8211; GREATER THAN EVER BEFORE!!!&#8221;
<blockquote class="twitter-tweet">
NEW: President Trump is raising the 10% worldwide tariff to the &#8220;fully allowed, and legally tested, 15% level.&#8221; <a href="https://t.co/0JsJDqLsh2">pic.twitter.com/0JsJDqLsh2</a>
— Mary Margaret Olohan (@MaryMargOlohan) <a href="https://twitter.com/MaryMargOlohan/status/2025242938624589857?ref_src=twsrc%5Etfw">February 21, 2026</a></blockquote>
The White House clarified on Friday that Trump is levying the tariffs by invoking his authority under Section 122 of the Trade Act of 1974, empowering him to address “certain fundamental international payment problems through surcharges and other special import restrictions.&#8221; The initial White House proclamation imposed a 10% ad valorem import duty on all articles imported into the U.S. for 150 days, taking effect February 24 at 12:01 a.m.
“By taking this action, the United States can stem the outflow of its dollars to foreign producers and incentivize the return of domestic production,” a White House fact sheet explains. “By increasing its domestic production, the United States can correct its balance-of-payments deficit, while also creating good-paying jobs, and lowering costs for consumers.”
<div id="attachment_1047745" style="width: 886px" class="wp-caption alignnone"><a href="https://www.dailywire.com/news/trump-hikes-his-new-tariffs-to-15-after-complete-review-of-scotus-decision/trumps-global-tariffs-struck-down-by-us-supreme-court" rel="attachment wp-att-1047745"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-1047745" class="wp-image-1047745 size-large" src="https://dw-wp-production.imgix.net/2026/02/GettyImages-2262195055-876x576.jpg" alt="" width="876" height="576" srcset="https://dw-wp-production.imgix.net/2026/02/GettyImages-2262195055-876x576.jpg 876w, https://dw-wp-production.imgix.net/2026/02/GettyImages-2262195055-300x197.jpg 300w, https://dw-wp-production.imgix.net/2026/02/GettyImages-2262195055-768x505.jpg 768w, https://dw-wp-production.imgix.net/2026/02/GettyImages-2262195055.jpg 1024w" sizes=" (max-width: 876px) 100vw, 876px" /></a>President Donald Trump imposed a 10% global tariff on foreign goods, moving quickly to preserve his trade agenda after the U.S. Supreme Court struck down many of the levies he imposed last year. Photographer: Kyle Grillot/Bloomberg via Getty Images</div>
Trump&#8217;s actions come after the Supreme Court struck down his reciprocal tariffs on dozens of countries in a 6-3 decision on Friday, saying that the president does not have the authority to impose those broad-scale tariffs.
Trump, in a White House press briefing on Friday and in subsequent social media posts, said repeatedly that he is “ashamed” of the Supreme Court justices who ruled against him for “not having the Courage to do what is right for our Country.”
On the other hand, the president has repeatedly praised the justices who ruled in his favor.
&#8220;My new hero is United States Supreme Court Justice Brett Kavanaugh and, of course, Justices Clarence Thomas and Samuel Alito,&#8221; he posted on Saturday morning. &#8220;There is no doubt in anyone’s mind that they want to, MAKE AMERICA GREAT AGAIN!&#8221;

President Donald Trump

Trump Blasts Past Original Tariff Vow After Supreme Court Ruling

The United States economy grew more slowly than expected in the fourth quarter, as investment gains were offset by declines in government spending and exports. 
Gross domestic product increased at a 1.4% annualized rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its initial estimate of fourth-quarter GDP on Friday. The figure missed the Dow Jones estimate, which had forecasted that GDP would rise at a 2.5% pace. 
Trump blamed the ‘Democrat Shutdown’ for the fourth-quarter economic slowdown. 
“The Democrat Shutdown cost the United States of America at least two points in GDP. That’s why they are doing it, in mini form, again. No shutdowns!” The President added, “Also, lower interest rates,” and that Fed Chair Jerome Powell “is the worst.” 
Just four days into the government shutdown that began in October, Press Secretary Karoline Leavitt <a href="https://www.youtube.com/watch?v=Fl_eu8vxU9Q">warned</a> that the shutdown could result in weekly losses of $15B in GDP. Oxford Economics predicted the shutdown would reduce economic growth by 0.1 to 0.2 percentage points per week. They estimated a quarter-long shutdown would have impacts of 1.2 to 2.4 percentage points. The government shutdown ultimately lasted around half a quarter before ending in November. 
White House spokesperson Kush Desai told the Daily Wire the numbers showed a robust private sector-led economy despite the shutdown. 
“Today’s GDP report showed that President Trump continues to deliver robust private sector-led economic growth with strong consumption and investment. Even with the Democrat Government Shutdown dragging the country down last fall, GDP growth for 2025 smashed the Federal Reserve, Congressional Budget Office, and International Monetary Fund’s ‘expert’ predictions. He added, “As President Trump’s proven agenda of tax cuts, deregulation, tariffs, and energy abundance continues taking effect and as trillions in investments continue pouring in, America’s economic comeback is set to only accelerate in 2026.” 
Not all economists agreed. Chief Economist for Europac Peter Schiff <a href="https://x.com/PeterSchiff/status/2024844808863281222">said</a>, &#8220;Data confirms Trump&#8217;s &#8216;hottest economy&#8217; is cooling fast.&#8221;
Many economists argue that President Trump&#8217;s tariffs curb economic growth. On Friday, the Supreme Court issued a ruling striking down Trump&#8217;s use of sweeping tariffs through the International Emergency Economic Power Act (IEEPA).
Senate Minority Leader Chuck Schumer <a href="https://x.com/SenSchumer/status/2024869159197118878">said</a> the Supreme Court ruling was &#8220;a victory for the wallets of every American consumer.&#8221;

President Trump Tours Ford Rouge Complex In Michigan

Why Trump Says Democrats Shaved ‘Two Points’ Off Economic Growth

Trump Blames 'Democrat Shutdown' For GDP Miss

Democrat Shutdown

The storied Chicago Bears NFL franchise has been playing in the Windy City since 1921, but on Thursday, the team shocked the sports world and Illinois leaders by taking a &#8220;meaningful step&#8221; toward building a new stadium across state lines in Hammond, Indiana.
After the Indiana House of Representatives unanimously passed a proposed amendment to make Indiana the Bears&#8217; new home, the team said it is &#8220;committed to finishing&#8221; the process &#8220;to build a world-class stadium near the Wolf Lake area in Hammond, Indiana,&#8221; Chicago-based news outlet WGN 9 <a href="https://wgntv.com/northwest-indiana/indiana-lawmakers-to-meet-thursday-morning-to-review-proposal-for-bears-to-build-new-stadium-in-northwest-indiana/">reported</a>. The Bears thanked the Republican-led Indiana government for quickly working to open the door for the new stadium.
&#8220;We appreciate the leadership shown by Governor [Mike] Braun, Speaker [Todd] Huston, Senator [Ryan] Mishler and members of the Indiana General Assembly in establishing this critical framework and path forward to deliver a premier venue for all of Chicagoland and a destination for Bears fans and visitors from across the globe,&#8221; the Bears said. &#8220;We value our partnership and look forward to continuing to build our working relationship together.&#8221;
While a relocation to Hammond would keep the Bears in the Chicago metro area, it would mark a major loss for Illinois Democratic leaders, including Governor JB Pritzker and Chicago Mayor Brandon Johnson. The Bears had planned to move to Arlington Heights, a village in Illinois northwest of downtown Chicago, but the plan has stalled in the Democrat-controlled state legislature.
A spokesman for Governor Pritzker <a href="https://x.com/thematthill/status/2024502208885080324">said</a> that state lawmakers had planned to hold a hearing on moving forward with the Bears&#8217; Arlington Heights plans, but the franchise requested the meeting be called off at the last minute. The hearing, scheduled to be held by the Illinois Revenue and Finance Committee, was set to look into a proposal to provide up to $850 million in infrastructure support, according to WGN 9.
&#8220;This morning, we were surprised to see a statement lauding Indiana and ignoring Illinois,&#8221; Pritzker&#8217;s spokesman, Matt Hill, added.
Local property taxes in Illinois also remain a major issue. Illinois Republican state Rep. Mark Batinick published a document detailing how the 7% property tax rate in Arlington Heights would require the Bears to pay around $210 million annually, the Purdue Exponent <a href="https://www.purdueexponent.org/city_state/general_news/chicago-bears-hammond-indiana/article_46293472-6987-4fe8-b4be-6a69f7280fb1.html">reported</a>.
Indiana Republican Governor Mike Braun released a statement on Thursday touting the state&#8217;s &#8220;pro-growth environment&#8221; that &#8220;continues to attract major opportunities like this partnership with the Chicago Bears.&#8221;
&#8220;The State of Indiana moves at the speed of business, and we&#8217;ve demonstrated that through our quick coordination between state agencies, local government, and the legislature to set the stage for a huge win for all Hoosiers,&#8221; Braun added. &#8220;We have built a strong relationship with the Bears organization that will serve as the foundation for a public-private partnership, leading to the construction of a world-class stadium and a win for taxpayers.&#8221;
Illinois businesses, especially businesses in Arlington Heights, could take the biggest losses if the proposal to move the Bears to Indiana goes through. Business owners and residents in Arlington Heights have largely supported bringing the NFL team to the village, as it would come with increased business and tourism opportunities.
A move to Republican-led Indiana, however, could ease the tax burdens of the franchise and its players. Indiana&#8217;s income tax currently sits at 2.95% and will be <a href="https://www.indianahouserepublicans.com/blog/general/new-tax-cuts-for-hoosiers-in-2026/">lowered</a> to 2.9% beginning in 2027. The state&#8217;s <a href="https://taxfoundation.org/location/indiana/">corporate</a> income tax rate is 4.9%. Illinois&#8217; <a href="https://tax.illinois.gov/research/taxrates/income.html">income tax</a>, meanwhile, is 4.95% and its corporate tax sits at 7%.
The potential relocation to Indiana comes as the Bears have once again become a top contender in the NFC following an NFC North division title and playoff run last season with star quarterback Caleb Williams and new head coach Ben Johnson.
The Bears could be the second NFL team to move across state lines, as the Kansas City Chiefs are preparing to build a new stadium on the Kansas side of the border after playing in Missouri for decades. Last year, Missouri Republicans <a href="https://www.dailywire.com/news/a-tale-of-two-kansas-cities-chiefs-and-royals-spark-political-battle-with-potential-stadium-moves">disagreed</a> over whether they should try to keep the Chiefs in the state, with Republican Governor Mike Kehoe arguing that the team brings business and state revenue for Missouri. Conservative Republicans in the Missouri Freedom Caucus, however, didn&#8217;t want to use taxpayer dollars for the benefit of the billionaire Chiefs owners.

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