State Treasurers Warn Congress of Economic Collapse Risks

Ten state treasurers and one state auditor have issued a warning that the U.S. is facing severe economic risks, citing trade wars, increased borrowing costs, and threats to Federal Reserve independence, and urging Congress to fulfill its constitutional responsibilities over economic policy. The letter criticizes both the Trump administration's actions and Congress's inaction, highlighting significant market losses and plummeting consumer confidence. Commentary from multiple sources underscores a broader concern that recent reforms, like those initiated under Trump, may be superficial unless Congress enacts lasting structural changes. Analysis suggests that Congress has shifted from independent, constituent-focused lawmaking to hyper-partisan allegiance, undermining its effectiveness and public trust. Meanwhile, public opinion of Trump’s economic leadership remains deeply divided, with recent polls showing low approval for his economic policies and skepticism about the direction of his administration. The overarching message from experts and officials is that Congress must move beyond partisanship to address the nation's pressing economic challenges.