MAGAnomics is starting to look uncomfortably like Bidenomics

Donald Trump’s 2024 campaign promised not merely to improve on “Bidenomics,” but to replace it. “On day one, we will throw out Bidenomics and we will reinstate MAGAnomics,” Trump said at a May 17, 2024 speech. He paired that with a promise to “stop the Biden stupid spending spree” and “end his inflation death spiral.” “This is Biden-nomics,” he told the audience in St. Paul, Minnesota. “Inflation has eaten—you know, it’s a country-buster.” He then called Biden’s inflation “a colossal tax on American families” and concluded: “We will call it the Biden inflation tax.” Twenty months into Trump’s second term, and with pivotal midterm elections approaching, his economic team is facing the political logic embedded in that…