Trump Ballroom Fiasco Takes Bad New Turn as Economic Data Gets Brutal

THE DAILY BLAST with Greg Sargent

The New Republic

News, Politics

4.4 • 800 Ratings

🗓️ 30 October 2025

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The economic news is getting worse. Major companies are announcing mass layoffs, and it’s dominating the headlines, including in the Rust Belt. Food stamps are about to expire for millions. And new info shows how Obamacare premiums will soar due to lapsing subsidies. That backdrop of bad news makes President Trump’s tearing down of White House structures to build a gilded ballroom even more damaging. Indeed, new polling shows that the ballroom fiasco is now stirring a surprising public backlash. On top of that, commentators are noticing the disconnect between the ballroom optics and the darkening economic situation for millions, a dynamic that will only worsen. We talked to Elizabeth Pancotti, who tracks economic sentiment as managing director of the Groundwork Collaborative. We discuss what the economic news means, why the media should level with voters about Trump’s out-of-touch displays, and how Democrats in key races are seizing the economic high ground. Looking for More from the DSR Network? Click Here: https://linktr.ee/deepstateradio Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Ever wondered what power is.
0:02.0	Power is transforming the sun into your own energy source.
0:06.0	Power is getting energy companies to pay you.
0:10.0	Power is enjoying your morning coffee, knowing you created the energy to make it.
0:15.0	Well, you and the colossal ball of fire in the sky.
0:19.0	Because with solar panels from Hive, the sun works for you.
0:23.0	Hive, know your power.
0:25.0	May not cover all electricity usage roof and weather dependent.
0:27.6	Paid for surplus requires eligible SEC tariff.
0:45.8	This is the Daily Blast from the New Republic, produced and presented by the DSR Network.
0:48.1	I'm your host, Greg Sargent. The economic news is suddenly getting worse.
0:59.7	A number of major companies are announcing mass layoffs.
1:03.2	Food stamps are about to expire for millions amid the government shutdown,
1:07.3	and we just learned that health insurance premiums will soar when Obamacare subsidies end.
1:13.5	Amid all this, Trump delivered a bizarre rambling boast about the economy, claiming laughably that
1:19.5	he's created a record number of jobs. Meanwhile, there are new signs that Trump's plans for a
1:25.4	glittering ballroom are backfiring badly with the public.
1:29.4	It's often said that Trump is dipping on the economy, but we think this could run even deeper
1:34.1	than it appears. What if he's widely perceived as totally out of touch on it as well?
1:39.4	We're unraveling all this with Elizabeth Pankati, who tracks economic sentiment with the
1:43.6	Groundwork Collaborative, where she's the managing director. Liz, thanks for coming on. Thanks, so all this with Elizabeth Pankati, who tracks economic sentiment with the groundwork collaborative,
1:44.8	where she's the managing director. Liz, thanks for coming on. Thanks so much for having me.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The New Republic, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The New Republic and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.