For previous generations, the American Dream was an affordable goal. The expansion of the suburbs and the growth of the service economy, along with the increased globalization of industry, afforded the average American the ability to realistically achieve homeownership and financial stability, even for those without an advanced degree.
The modern day, however, paints a vastly different picture. Rising rent prices, stagnating real wages and higher inflation rates threaten the future of the average earner. The upwardly mobile working class of the past made way for the downwardly mobile college graduate. These new workers enter a job market filled with fake job postings, “entry-level” jobs that actually require years of experience and a “low-hiring, low-firing” corporate environment. All the while, wages fail to keep pace with price increases, and the current administration does nothing to address the issue.
The Trump administration’s economic policy is short-sighted, sacrificing the future of the nation to line the pockets of the ultra-wealthy. Emphasizing deregulation, downsizing federal programs and cutting taxes for the highest earners all fail to address systemic issues. Improving national economic health and lowering the cost of living for average Americans starts with securing the programs that currently promote upward mobility, investing in infrastructure that ensures long-term growth and regulating industry to guarantee a fair deal for consumers.
Instead, congressional Republicans have proposed a budget that cuts no less than $600 billion from Medicaid and $287 billion from Supplemental Nutrition Assistance Program (SNAP) benefits. Cutting essential welfare programs in the name of “fiscal responsibility” fails to consider the economic impact of allowing lower-income Americans to fall further into poverty. Every dollar cut from SNAP can cost taxpayers up to $20 over time. Current cuts threaten local communities and businesses that rely on these benefits from customers to stay afloat. Cutting Medicaid spending could increase the number of uninsured people by up to 14 million by 2034. Without any financial backing, families are left to choose between health and hunger, thereby limiting their ability to contribute to local economies. The overwhelming costs of healthcare and food threaten growth. Communities develop when people are capable of investing in themselves and others.
Regulatory bodies essential for protecting consumer interests have come under fire from Republican legislators and the current administration. The Consumer Financial Protection Bureau (CFPB), an agency responsible for protecting consumers from predatory monetary practices, has seen its funding targeted for massive cuts. Crippling organizations such as this has been a key part of the Republican playbook under the current regime. We believe deregulation does not necessarily promote economic growth; it can endanger citizens by permitting unfair business practices and costing regular people money.
Beyond financial institutions, environmental deregulation will also cost the average American money. Recently proposed repeals to Environmental Protection Agency regulations could result in Americans incurring up to $275 billion in additional annual healthcare costs. Regulatory bodies serve to save consumers money both directly and indirectly. Broadly repealing well-reasoned regulations serves only to benefit corporations no longer bound by sensible rules.
Trump’s reiteration of Reagan-era “trickle-down” economics has failed to manifest gains for the working class. The “One Big Beautiful Bill” provides negligible benefit to middle and lower-income Americans, while massively benefiting the already wealthy. Analysis of past legislation by the Trump administration reveals that corporate tax cuts did not result in increased wages.
Trump’s economic policy fails to promote the growth of the working class. Strong regulations on financial institutions, fair taxation practices that ensure the wealthy pay their share and strong social safety nets provide the working class the ability to achieve upward mobility and financial gain. Creating an economy for all is not an impossible goal. America can work for all Americans, not just the rich.
The Fordham College Democrats serves as an organizing body for progressive students on campus, connecting them to opportunities to help their local communities and involve themselves in politics. The organization has proudly worked to provide a space in which open dialogue among the left is fostered and all people feel welcome to express their viewpoints.
Most recently, our organization has provided members opportunities to participate in the mayoral campaign in support of the Democratic nominee Zohran Mamdani. Through campaigning for progressive politicians and educating individuals on economic policy, especially within New York City itself, our organization can help mitigate the impact of poor federal governance on our local communities, lowering costs and enfranchising as many New Yorkers as possible. Local activism, when enacted en masse, is one of the most powerful tools for change in a democratic society.
Ultimately, the Fordham College Democrats is an organization that works to promote ideas associated with the Democratic Party. Consequently, we cannot tolerate ideologies that promote hate, violence or discrimination against any members of our campus community or beyond. However, unlike the current leader of the Republican Party, we do not hate our opponents. The goal of the Democratic Party is to serve all people in this nation, not just its supporters. Only through a shared desire for the well-being of all will our nation survive.
Atacus Jarrett, FCRH ’28. is a political science major from West Chester, Pennsylvania.
