Trump Cares More About His Meme Coin Than the Economy, House Democrat Says

Rep. Jake Auchincloss Criticizes Trump's Economic Focus

Democratic Rep. Jake Auchincloss took aim at President Donald Trump on Friday, May 2, expressing concerns that the president was focusing on his meme cryptocurrency rather than addressing critical economic issues facing the country. 
Appearing on The Story with Martha MacCallum on Fox News, Auchincloss emphasized the negative effects of economic uncertainty on businesses and the broader economy, noting that Trump's actions were exacerbating these problems.
When asked about the potential for a recession to benefit Democrats in the midterm elections, Auchincloss quickly dismissed the idea. "No, I represent 800,000 people worried about how badly the economy is managed," he said. "Every local chamber of commerce, every small business owner I speak with mentions one thing consistently: uncertainty. Uncertainty is toxic for businesses, and that's exactly what we're seeing from this administration."
Here's a rundown of everything the representative had to say about Trump. 
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Trump's Trade Policies Under Scrutiny

Martha MacCallum pointed out the impact of Donald Trump's tariffs on the markets and questioned if Democrats would ever support the president's trade agenda. Jake Auchincloss, who had previously served as a Marine, made it clear that his focus was on a stable economy, regardless of the political party in power.
"I want a strong economy regardless of who is in the White House," Auchincloss said. "But this president seems more interested in the valuation of his meme coin than in people's retirement accounts, their 401Ks, or the broader health of the economy."

Criticism of Trump's Ties to Cryptocurrency

Jake Auchincloss then shifted his critique to Donald Trump's Commerce Secretary, Howard Lutnick, who has financial ties to digital currencies. "Howard Lutnick owns a crypto business, and the president is closely aligned with him," the congressman noted. "We've got a commander-in-chief whose close associates stand to benefit personally from cryptocurrency volatility. That's not good governance, it's profiteering."
The congressman suggested that Trump's prioritization of personal financial interests in cryptocurrency, particularly with Lutnick's involvement, was undermining sound economic policy. Auchincloss framed this as a conflict of interest that was detrimental to the country's economic stability.

The Impact of Trump's Economic Policies

Jake Auchincloss continued his criticism of Donald Trump's economic decisions, particularly the uncertainty caused by his tariff policies. "This uncertainty is causing job creators to hesitate," he stated. "They're reluctant to hire, expand, or invest, and that hesitation alone risks tipping our economy into recession. Americans deserve better leadership."
He highlighted how the hesitation in hiring and investment was a direct result of Trump's economic policies and the broader instability they created. For Auchincloss, this lack of clarity and direction was damaging both to the business sector and to American workers.

Social Media Reactions to Auchincloss' Remarks

On social media, reactions to Jake Auchincloss's critique were mixed. Some users applauded his comments, with one tweet reading, "Jake Auchincloss is absolutely right — Trump's focus on his meme coin and tariffs is harming real people. Time for a change." 
Others were more skeptical of his position, with a user replying, "This is just another example of Democrats trying to blame Trump for everything. Look at the economy before COVID hit — he was doing a great job."
However, Auchincloss's critique of Trump's focus on cryptocurrency, specifically his relationship with Howard Lutnick, resonated with many who felt that the president's personal financial interests were influencing his policies. One user tweeted, "When the president's allies are profiting from crypto volatility, it's hard to take any of his economic policies seriously. #ProfitOverPeople."
In contrast, Donald Trump's supporters took to social media to defend the president's focus on economic growth, with one commenter writing, "Trump's policies were working — this recession is a result of a global pandemic, not his leadership."