Rep. Ro Khanna (D-Calif.) is taking aim at President Donald Trump's economic playbook, arguing it's hitting American families right in the wallet. In a post on X Wednesday, 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."
Khanna broke it down in a video: the Iran war has pushed up food and gas prices, tariffs have made store goods more expensive, and Trump's tax cuts for the rich led to Medicaid cuts that mean $1,000 more in healthcare costs for ordinary Americans. "Trump is costing every American family $3,500," he said, calling for Democrats to take back power and reverse what he calls "Trumponomics."
Khanna isn't alone in his criticism. Sen. Bernie Sanders (I-Vt.) recently challenged Trump's claim that the economy is "amazing," pointing to rising grocery prices, people living paycheck to paycheck, gaps in health coverage, and homelessness. "If this is ‘amazing,’ God help us," Sanders said.
Economist Justin Wolfers took aim at Trump's "One Big Beautiful Bill," noting that tax breaks for tips, overtime, and Social Security come with restrictions and expiration dates, while tax cuts for the wealthy are permanent. He called it "populism with an asterisk."
Gov. JB Pritzker (D-Ill.) also piled on, accusing Trump of opposing funding for Medicaid and SNAP while backing pet projects. "Apparently, we can afford anything — as long as it’s for Donald Trump," he said.
And Moody’s Analytics Chief Economist Mark Zandi warned that economic pressures are mounting, with 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 rise if disruptions continue.
Khanna's $3,500 figure is a stark headline, but the broader critique from Democrats and economists suggests a growing consensus that Trump's policies are squeezing households. Whether voters agree remains to be seen.
