Donald Trump is set to embark on a nationwide “retribution tour,” a move that a Nobel Prize-winning economist warns could have detrimental effects on the Republican Party. According to Paul Krugman, this tour aims to present a narrative that the economy is thriving, despite widespread financial struggles among many Americans. Krugman expressed concerns that this approach might deepen doubts among Republican supporters regarding the party’s direction and policies.
Earlier this week, Trump confirmed plans for the tour, which will focus on promoting his administration’s economic achievements. Krugman, writing on his Substack, highlighted how Trump’s rhetoric, which dismisses affordability concerns as a “hoax” and a “con job,” could alienate voters facing economic hardship. He stated, “Democratic strategists must be rubbing their hands with glee. And if you are one of those Republicans reconsidering your future career options, know that things are going to get worse. A lot worse.”
Impending Healthcare Crisis
Krugman also pointed to an impending “health care earthquake” that could further cripple Republican support. He noted that millions of Americans are expected to experience a sudden increase in health care costs starting on January 1, 2024. This spike is attributed to changes in the Affordable Care Act (ACA), which will coincide with rising economic pressures, making the situation increasingly untenable for many families.
He elaborated, “This ACA premium shock will hit as other forces are exacerbating the sense of crisis over affordability. Businesses are starting to fully pass onto consumers the cost of Trump’s tariffs. Electricity prices are soaring as data centers inflict the cost of their enormous power demands on consumers. In addition, Trump’s deportation policies are increasing the cost of food.”
Krugman emphasized that while Trump may perceive affordability concerns as unfounded, the reality is that these issues will adversely affect him and his allies. “It’s going to hit him and his allies hard. And it couldn’t happen to a more deserving group of people,” Krugman concluded.
The implications of the tour and the anticipated rise in healthcare costs could significantly reshape the political landscape for the Republican Party in the coming months, positioning them in an increasingly precarious situation as they prepare for the next electoral cycle.
