{"id":4421,"date":"2026-08-05T13:09:11","date_gmt":"2026-08-05T13:09:11","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=4421"},"modified":"2026-08-05T13:09:11","modified_gmt":"2026-08-05T13:09:11","slug":"trump-faces-brutal-reality-check-as-golden-age-pledge-crashes-and-burns","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=4421","title":{"rendered":"Trump faces brutal ‘reality check’ as ‘golden age’ pledge crashes and burns"},"content":{"rendered":"
\n

President Donald Trump is facing a \u201creality check\u201d over his promise of a new “golden age” as economists warn his \u201crosy\u201d outlook may not come to fruition, Axios reports.<\/p>\n

Michael Kratsios, assistant to the president for science and technology, laid out the president\u2019s vision for \u201cA New Golden Age\u201d in a report last month. Writing to Trump, Kratsios imagined a revitalization of \u201cAmerica\u2019s science and technology enterprise\u201d and \u201cdominance in critical and emerging technologies.\u201d<\/p>\n

The report also emphasized AI, which Axios notes has \u201cbuoyed\u201d U.S. financial markers despite a \u201croller coaster\u201d economy suffering from \u201ctariff uncertainty, stubborn inflation and his Iran war.\u201d The result, according to Axios, is a \u201cmuddled economic picture.\u201d And, despite the president\u2019s promise of a \u201cgolden age,\u201d \u201cmany voters aren’t buying it.\u201d<\/p>\n

The Wall Street Journa<\/em>l <\/em>last month reported that \u201cU.S. economic growth slowed in the second quarter,\u201d decreasing from 2.1 percent in the first quarter to 1.5 percent In the second. On the same day as the GDP report was released, Fed officials voted to \u201chold the central bank\u2019s benchmark interest rate steady,\u201d according to the Journal. Discussing the move, Fed Chairman Kevin Warsh argued \u201cthe economy is showing impressive resilience.\u201d<\/p>\n

Still, the Fed faces pressures from Trump and members of his team to cut interest rates. As Axios reports, Commerce Secretary Howard Lutnick said in January that growth could have hit 6 percent in the first quarter if the Fed cut interest rates. Lutnick\u2019s more modest proposal \u2014 that growth could hit 5 percent even without Fed intervention \u2014 failed to materialize. Treasury Secretary Scott Bessent\u2019s economic blueprint likewise \u201ctargets sustained 3 percent annual growth.\u201d<\/p>\n

Michael Klein, an economics professor at Tuft University’s Fletcher School told Axios that Trump officials\u2019 predictions are \u201cjust unrealistic.\u201d<\/p>\n

\u201cYou don’t see that in an economy like the United States,\u201d Klein said.<\/p>\n

Klein isn’t the only one scratching their heads at Trump officials’ claims. Per Axios, Joseph Lavorgna, a former advisor to Bessent, noted that 3 percent is possible but said he “can’t get there on the arithmetic\u201d for 4-to-5 percent growth.<\/p>\n

“The dynamics aren’t going to allow us to grow at those growth rates, at least for the foreseeable future,” Lavorgna told Axios.<\/p>\n

Read more Trump has finally hit \u2018a brick wall\u2019 he can\u2019t talk his way around<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

President Donald Trump is facing a \u201creality check\u201d over his promise of a new “golden age” as economists warn his \u201crosy\u201d outlook may not come to fruition.<\/p>\n","protected":false},"author":1,"featured_media":4420,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nTrump faces brutal 'reality check' as 'golden age' pledge crashes and burns - Next Address America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextaddressamerica.com\/?p=4421\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump faces brutal 'reality check' as 'golden age' pledge crashes and burns - 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