Rep. Ro Khanna (D-Calif.) accused President Donald Trump of increasing financial pressure on American households, claiming his administration’s policies have added thousands of dollars in annual costs for families.
Khanna Targets Trump’s Economic Policies
On Wednesday, in a post on X, Khanna said, "American families are paying $3,500 more a year because of Trump’s war in Iran, his blanket tariffs, and his tax breaks for the wealthy."
In a video shared alongside the post, California Democrat said, "We know that the war in Iran has driven up food and gas prices. We know that the blanket tariffs have driven up the prices of so many goods in stores."
He also criticized Trump’s tax policies, arguing they contributed to cuts in government programs and higher health care expenses.
"And we know that Trump’s tax breaks to the wealthy led to steep Medicaid cuts that have meant $1,000 more in the health care costs for ordinary Americans," Khanna said.
He concluded that "Trump is costing every American family $3,500" and called for Democrats to regain political power to reverse what he described as "Trumponomics."
American families are paying $3500 more a year because of Trump’s war in Iran, his blanket tariffs, and his tax breaks for the wealthy.
— Ro Khanna (@RoKhanna) July 29, 2026
We need Democrats back in power. pic.twitter.com/FCxosNw39g
Democrats, Economists Slam Trump’s Economic Record
Earlier, Sen. Bernie Sanders (I-Vt.) challenged Trump’s statement that the U.S. economy was "amazing," citing rising grocery prices, Americans living paycheck to paycheck, gaps in health coverage and homelessness.
"If this is ‘amazing,’ God help us," he said.
Economist Justin Wolfers criticized Trump’s "One Big Beautiful Bill," arguing that tax breaks for tips, overtime and Social Security came with restrictions and expiration dates, while tax cuts benefiting wealthy Americans were permanent.
He described the legislation as "populism with an asterisk."
Gov. JB Pritzker (D-Ill.) also criticized Trump’s spending priorities, accusing the president of opposing funding for Medicaid and SNAP while supporting projects tied to the White House.
"Apparently, we can afford anything — as long as it’s for Donald Trump," he said.
Meanwhile, Moody’s Analytics Chief Economist Mark Zandi warned that economic pressures were mounting, pointing to inflation, weaker growth, declining household savings and uncertainty from the U.S.-Israel war on Iran.
"The economy isn’t just soft, it’s struggling," Zandi said, warning that recession risks could increase if disruptions continued.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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