Economist Says Trump’s $5,000 Checks Won’t Materialize as U.S. Debt Nears $41 Trillion
Updated
Updated · Fox News · Sep 17
Economist Says Trump’s $5,000 Checks Won’t Materialize as U.S. Debt Nears $41 Trillion
3 articles · Updated · Fox News · Sep 17
Summary
$5,000 payments promised by Donald Trump if Republicans keep Congress are unlikely to reach Americans, former CBO director Douglas Holz-Eakin said, arguing the president lacks clear authority to issue such checks.
Holz-Eakin said earlier proposals were similarly unrealistic, including DOGE-linked checks because savings never approached the needed scale, and he was also skeptical about a separate $9,000 plan for stay-at-home mothers.
He tied that skepticism to a broader fiscal critique, saying inflation is still outpacing wages for many families and backing the Federal Reserve after its first rate hike in three years despite Trump’s calls for lower rates.
Holz-Eakin blamed tariffs, higher oil prices and the Iran conflict for economic headwinds, and warned current policy does not add up with debt around $41 trillion and annual deficits near $2 trillion.