As I’ve been reflecting on the state of the economy today, I’ve had countless conversations where people argue that things are worse now and that Trump somehow made everything better. Some believe Trump’s economic prowess set us up for success, while Biden’s policies unraveled it all. To be honest, I’m not an economist—I’ve had to defer to people who know far more than I do about how economies work. But I’ve learned that much of what we believe about the economy is shaped by perception, politics, and—frankly—media narratives. The reality is more complex, and when you dig into the data, it tells a very different story than what’s often presented.
The “Flash in the Pan” Economic Legacy of Trump
One thing that stands out when looking closely at Trump’s business history is the pattern of quick bursts of enthusiasm followed by failure. It’s not just in his time as president—this has been the case throughout his business ventures. Trump’s economic legacy is, in many ways, a series of “flash in the pan” projects that stir excitement and then collapse, often leaving others to deal with the financial fallout. Think about Trump Airlines, Trump Steaks, Trump University, and Trump Casinos—all of them failures. Records show that Trump’s business model has often been to build hype, generate attention and investments, then bail out when things start to crumble, leaving behind massive debt, unpaid contractors, and financial wreckage for others to clean up.
The same pattern can be seen in his approach to the economy. His administration’s tax cuts and deregulation were celebrated for providing an immediate boost. Still, economists like Paul Krugman and the Congressional Budget Office (CBO) warned that these moves came with long-term risks. The 2017 tax cuts ballooned the deficit and disproportionately benefited the wealthy, creating a short-term high that many mistook for sustainable growth. But underneath that, the fiscal health of the country was deteriorating. Trump’s trade wars, particularly with China, stirred economic anxiety, and while they were supposed to protect American jobs, many studies, including those from Brookings, show they ended up hurting sectors like agriculture and manufacturing.
Trump’s tendency to walk away from these ventures once they’ve served his immediate purpose mirrors his behavior in business. He stirred economic passion, built up excitement, but when the long-term repercussions began to surface—rising deficits, strained trade relationships, and a growing wealth gap—he wasn’t the one left holding the bag. Like his failed enterprises, where others—suppliers, contractors, investors—were left with unpaid bills, his economic policies left future administrations, like Biden’s, to deal with the fallout.
Comparing Trump’s Flash with Biden’s Recovery Strategy
Biden’s administration, by contrast, inherited an economy ravaged by the pandemic, rising unemployment, and a ballooning deficit left by Trump’s policies. His approach, while less flashy, has been about stabilizing the economy in the long term. Although criticized for contributing to inflation, the American Rescue Plan helped bring unemployment down from 6.3% in January 2021 to 3.8% in 2023. Biden’s policies have been aimed at long-term infrastructure, healthcare, and clean energy investments, which may not generate the immediate buzz that Trump’s tax cuts did, but they are designed to build a more sustainable economic future.
And this is where I realize how much I’ve had to defer to the experts. Trump’s economic moves weren’t about building long-term, stable growth. They were quick, adrenaline-pumping policies that gave people the sense that the economy was roaring. But when you look at the data, it becomes clear that his administration’s legacy is more about short-term gain at the expense of long-term health. Economists from Moody’s Analytics and the IMF point out that while Trump’s deregulation and tax cuts spurred immediate economic activity, they worsened wealth inequality and left the economy more vulnerable to shocks like the one caused by COVID-19.
The Real Impact: How Media and Perception Shape Our Views
As I’ve had to learn, much of what we think about the economy comes from the narratives we’re fed. Media outlets—especially right-leaning ones—praised Trump’s economic approach as though it was some financial genius at work while left-leaning outlets tend to highlight the long-term risks. But no matter where you get your news, the data tells a more straightforward story: Trump’s economic policies were like his failed enterprises—flashy, short-lived, and ultimately destructive for those left behind.
A Call to Thought and Action
Here’s where I have to stop and ask myself—and invite you to do the same—how much of what we believe about Trump’s or Biden’s economy is based on facts, and how much is driven by political bias or media narratives? It’s easy to get swept up in the belief that one administration fixed everything while the other ruined it, but reality is more nuanced. When we look at the historical data on Trump’s businesses and his policies, we see a pattern of stirring short-term economic excitement followed by collapse, where others are left to pick up the pieces.
I encourage you to dig into the data, look at reputable sources, and think critically about what’s actually happening in the economy. It’s not as simple as “Trump made things better” or “Biden made things worse.” Both administrations faced different economic challenges, and both made decisions with wide-reaching impacts—some good, some bad.
In the end, my hope is that we can have more informed conversations about the economy, moving past partisan rhetoric and into a deeper understanding of what really works and what doesn’t. It’s time to listen to the experts, consider the long-term impact of policies, and be more cautious of short-term gains that might leave us with long-term problems.
For Your Mind, Fellow Believers:
I’ve been thinking about how easily we, as Christians, can be swayed by narratives that don’t always hold up under scrutiny—especially when it comes to matters of justice and economics. It’s easy to jump on board with claims, repeat them, and even charge someone with wrongs they may not have committed, simply because the voices around us are loud. But Scripture calls us to a higher standard—one that requires us to think deeply and seek truth, even when it’s inconvenient.
I’ve had to check myself on this, especially when it comes to understanding economic policies and their impact. Sometimes, it’s easier to believe that things are worse for everyone because that’s what we hear on the news or from people around us. But if we look closer, there’s another story being told by the data. Many Americans today are actually better off, especially when it comes to healthcare. Over the past decade, millions of people have gained access to health coverage, and healthcare costs—while still high—have stabilized for many. Meanwhile, the healthcare industry continues to rake in billions in profits. The argument that people are suffering under these changes doesn’t hold water when we see that coverage has expanded and people are being treated who once couldn’t afford it.
Yet, how often do we, as Christians, hear these truths and still allow ourselves to be swayed by rhetoric that paints a different picture? We have to ask ourselves: Are we really seeing the whole picture, or are we falling for assertions without evidence? Worse, are we allowing these misleading narratives to shape how we treat others—especially those who are struggling?
The Call to Care for Others
The heart of the gospel calls us to consider the needs and emotions of others as equally important to our own (Philippians 2:3-4). It’s a sham to say we know the love of God if we’re willing to let people suffer economically, or otherwise, while the rich get richer. When Scripture talks about loving our neighbor, that love isn’t passive—it’s active. It requires us to make choices that reflect care for the poor, the marginalized, and those struggling under the weight of financial burdens. Jesus himself warned against hoarding wealth and ignoring the needs of others (Luke 12:15).
So, when we hear arguments about how policies like healthcare reform or economic changes are hurting people, we have to dig deeper. Are we siding with the wealthy and powerful, who are profiting more than ever, while ignoring those who have benefitted? Are we letting our personal or political preferences cloud our ability to see how others are thriving?
We cannot claim to be walking in the love of God if we are unwilling to examine these things. The Bible doesn’t just call us to personal righteousness—it calls us to communal care. And that care extends to how we engage with issues like healthcare, wages, and economic justice. The prophets didn’t shy away from calling out systems that allowed the rich to oppress the poor. Neither should we.
Truth Over Comfort
The truth is, no one is losing in America’s current healthcare system, at least not in the way some claim. The rich are still rich—industries are still profiting—but more people are covered, more people are treated, and fewer are left without care. As Christians, we need to celebrate that progress, not fall into the trap of thinking that things are worse just because it fits a certain narrative.
We are called to speak truth in love, to seek justice, and to look out for the least among us. It’s not enough to simply go along with what feels comfortable or aligns with our preconceptions. If we’re going to follow Christ, we need to ensure that our actions and beliefs reflect a genuine care for the economic and physical well-being of others.
So, for your mind and heart, ask yourself: Am I being led by facts or by feelings? Am I standing up for the vulnerable, or am I siding with those who already have more than enough? Let’s take the time to seek truth, even when it challenges us, and let’s be sure that our witness as Christians is one of compassion, justice, and truth.