Trump makes a familiar promise: $5,000 checks for everyone
Summary
President Trump said he will give every adult U.S. citizen a $5,000 check if Republicans keep control of Congress after the midterm elections. This plan would cost about $1.2 trillion but has not been seen before as an official policy and may affect government spending and borrowing costs.Key Facts
- President Trump made the $5,000 check promise at a Republican event before the midterm elections.
- The payment would go to every adult U.S. citizen, about 245 million people.
- The total cost would be around $1.2 trillion, adding over 15% to last year’s government spending.
- Trump has made similar promises before, but no such payments were ever made.
- Higher government spending could increase borrowing costs, which might raise interest rates for Americans.
- The bond market has recently shown concern over growing deficits and spending.
- The midterm elections are 54 days away, and this promise could become a major campaign topic.
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