President Donald Trump’s recent promise of cash payments to Americans appears improbable, as noted by an economist and former congressional budget expert. Douglas Holz-Eakin, who heads the fiscal policy organization American Action Forum, commented that while Trump has made numerous promises, including a pledge of $5,000 to each American if Republicans retain control of Congress, these are unlikely to materialize.
Holz-Eakin, who previously directed the Congressional Budget Office and worked on John McCain’s 2008 presidential campaign, expressed skepticism about the feasibility of such financial promises. He pointed out that past initiatives, such as the proposed “DOGE checks” and tariffs, faced legitimacy issues from the start because there wasn’t a practical way to implement them. He also mentioned that the Trump administration’s recent intent to provide $9,000 checks for stay-at-home mothers seems equally unrealistic.
“There’s a path to aid stay-at-home moms for childcare, but it’s complicated… so I wouldn’t hold my breath for any checks arriving soon,” he remarked. Holz-Eakin drew a parallel between Trump’s fiscal strategy and that of President Joe Biden’s administration, noting both have struggled with rising inflation and stagnant wages, which undermines the American dream.
Addressing inflation control, he emphasized that stabilizing prices is essential for economic order and expressed his strong support for the Federal Reserve’s recent efforts to combat inflation. He noted that the Fed has begun raising interest rates for the first time in three years, which may be seen as contrary to Trump’s preference for lower rates to ease borrowing costs for Americans.
Holz-Eakin attributed current economic challenges to specific Trump administration policies, highlighting tariffs and oil market dynamics as significant headwinds facing the economy. “The middle class is feeling the pinch as grocery prices climb,” he noted, emphasizing a need to let the economy thrive without those burdens.
Furthermore, his concerns about fiscal policy direction are clear. “As a former Congressional Budget Office director, I wake up wondering how we can manage our fiscal responsibilities,” he explained, revealing his apprehension over an escalating national debt, which has reached $41 trillion, and annual deficits exceeding $2 trillion. He proposes a return to more conservative fiscal practices to get the debt under control, advocating for reduced spending without tax increases — a traditional conservative approach that seems absent in current policies.
Fox News Digital sought a response from the White House regarding Trump’s economic pledges, but did not receive an answer by the publication’s deadline.
