Summary
Overview
This episode examines Donald Trump's controversial $5,000 voter payment promise if Republicans win the midterms, discussing its legality and political motivations. The hosts analyze the escalating trade war with Canada, focusing on how Canadian retaliatory tariffs strategically target key swing states ahead of the midterm elections, potentially damaging Republican chances in crucial Senate races.
Trump's $5,000 Voter Promise: An Empty Bribe or Desperate Play?
Donald Trump promised every American voter $5,000 if Republicans win the midterms, announced at a poorly-attended convention in Texas. Ed Elson argues this represents the latest in a series of broken promises, including failed Doge dividends and tariff refunds that never materialized. The promise appears both illegal as vote-buying and fiscally reckless, adding $1.3 trillion to an already ballooning deficit. With Trump's approval at historic lows around 33%, this move signals desperation rather than confidence.
- Trump announces $5,000 payment promise to voters if Republicans win midterms
- Trump has previously broken similar promises including $5,000 Doge dividend and $2,000 tariff dividend
- Companies like Walmart received nearly $3 billion in tariff refunds while consumers paid higher prices
- The promise would cost $1.3 trillion and is likely illegal vote-buying
- Trump's approval rating has hit all-time low of 33% according to Reuters poll
" This is just another example of what a complete joke this president has become at this point. And to me, like this is kind of the nail in the coffin. I think it's just a huge red flag if anyone still takes him seriously. "
" This is banana republic stuff. This is the stuff of, you know, I grew up all over the world in countries where people actually did literally try to buy votes from people. "
" We're seeing all of the telltale signs of what that administration would be. I mean, yeah, bribing people in order to vote for you. We could talk about the U.S. Mint producing a gold coin with Trump's face on it. I mean, that's something that very few sitting political leaders have ever done in history. But there are a few of them, and I can name some of them. Some of them have been Saddam Hussein, Muammar Gaddafi, Francisco Franco, Kim Il-sung. "
Bond Market Alarm: Investors Losing Faith in Trump's Economic Management
Bond market investors are increasingly concerned about the administration's disregard for inflation and debt management. Treasury yields have climbed to levels not seen since 2023, with the 30-year at 5.3% and 10-year at 4.83%. The administration's contradictory policies—high oil prices, pressure for lower interest rates despite inflation, and reckless debt issuance—have bond investors, traditionally more pessimistic than equity investors, seriously questioning whether competent adults are in charge.
- Bond market experiencing major sell-off with 30-year treasury yield above 5.3% and 10-year at 4.83%, highest since 2023
- Oil prices above $100 per barrel for Brent crude will trickle down into broader inflation
- Trump pressuring for lower interest rates despite ongoing inflation crisis
- National debt has reached $40 trillion with administration showing no concern
- Treasury Secretary Scott Besant spent $6 billion buying bonds to lower yields, but strategy failed
" We have done nothing to resolve the fact that oil is now at more than $100 a barrel, the price of Brent crude, which is going to trickle down into the prices throughout the economy. It's going to be a real problem for inflation. Meanwhile, you have the president saying that actually, no, we need to lower interest rates, despite the fact that we are actually battling an inflation crisis right now. "
📚 5 more sections below
Sign up to unlock the complete summary with all insights, key points, and quotes
Get this summary + all future The Rest Is Politics: US episodes in your inbox
100% Free • Unsubscribe Anytime
Sign up now and we'll send you the complete summary of this episode, plus get notified when new The Rest Is Politics: US episodes are released—delivered straight to your inbox within minutes.