[Bloomberg Column] Do Not Misinterpret Trump's Declaration as an 'Achievement'

In the weeks following Donald Trump’s inauguration as President of the United States, American attention was focused on the sweeping attacks he launched. Reports continued on the halt of trade wars with Canada and Mexico, the fantastic proposal that the U.S. would occupy the Gaza Strip, and absurd questions about how much federal agencies spend on news site subscriptions. There were also shocking reports about pardoning rioters involved in the January 6, 2021, Washington D.C. Capitol riot and purging prosecutors connected to the incident.

Matthew Iglesias Bloomberg Columnist.

Recall that four years ago, then-President Joe Biden and his administration unveiled the American Rescue Plan one week before taking office. The U.S. Senate and House passed a budget resolution containing reconciliation instructions to enact the stimulus package proposed by President Biden. The draft legislation was submitted to the House on February 8, and after negotiations between both chambers, President Biden signed the $1.9 trillion stimulus package on March 11. This amount is roughly five times the entire annual budget of the Department of Education.

What about the 49 executive orders signed by President Trump (and still increasing)? Of course, it is an extraordinary amount in sheer volume. However, President Trump did not present any striking ideas on his first day in office.

New presidents like to use executive authority. President Trump’s actions have proceeded at a record pace. It is not uncommon for presidents to issue many executive orders in their first month and first year in office.

President Biden issued more than a dozen new executive orders. Many of these were related to the ongoing COVID-19 crisis at the time, which had significant financial impacts. These included extending the student loan repayment moratorium for several months and prolonging the federal eviction moratorium.

He also solidified protections against discrimination for LGBT employees and created a new ethics pledge for administration staff. He extended the legal stay period for about 4,000 Liberians in the U.S. and changed guidelines to require the federal government to conduct population counts broken down by race. Actions related to climate change were also taken.

This does not mean that President Trump’s early moves were unimportant. However, it highlights two fundamental facts about current American politics. One is that President Trump is a master of show business who knows how to stage spectacular scenes. The other is that progressives have a much stronger desire for policy change than conservatives.

After President Biden’s massive stimulus package, he implemented a $1.2 trillion infrastructure package with bipartisan agreement. However, progressives were not satisfied. They feared that the administration’s commitment to change would be undermined if the bill passed. They tried to block the bill’s passage but eventually stepped back and opened discussions on the Inflation Reduction Act (IRA). This discussion resulted in achievements including over $1 trillion in clean energy spending and hundreds of billions of dollars in new health initiatives. Despite these accomplishments, there was disappointment within the Democratic Party at the time for not achieving other desired goals such as expanding federal childcare programs, increasing the child tax credit, or broadening universal pre-kindergarten support.

Having high aspirations is not a problem. Expressing concerns about some of what President Trump did is also valid. For example, it was absurd to effectively dismantle the U.S. Agency for International Development (USAID), which led to the suspension of HIV treatment and prevention programs in Africa. It is almost unbelievable that President Trump, Tesla CEO Elon Musk, and the Department of Government Efficiency (DOGE) came up with new strategies to create policy change.

Although the Biden administration invested about $5 billion to increase food assistance under the Supplemental Nutrition Assistance Program (SNAP) by 27%, few people are aware of this. So far, one of the biggest achievements of the Department of Government Efficiency has been sparking debate over funding for the Iraqi children’s education program ‘Sesame Street.’

As a veteran member of the Senate Finance Committee said, “Any number ending in ‘million’ sounds the same to people.” But that is not true. To have an effect equivalent to President Biden’s change requiring the Social Security Administration to consider years of service when calculating disability insurance payments, 1,000 Sesame Street grants would be needed.

If President Trump’s Department of Government Efficiency used its authority to access Treasury payment systems to cut major government programs, it would be a huge deal. What is more surprising is that Congressional Republicans are trying to indefinitely delay the extension of the tax cut and job creation law by opposing it and instead supporting a bill focused on increasing spending for the military and immigration enforcement. This can be interpreted as President Trump practicing a strong form of political behavior and being quite skilled at resolving political conflicts.

The Biden team has constantly struggled between efforts to focus public attention on the most popular initiatives such as lowering prescription drug prices, funding bridge repairs, and investing in American manufacturing, and the reality of others in the progressive political landscape urging the Biden administration to take bolder actions.

President Trump makes small initiatives appear dramatic, causing core supporters to cheer rather than demand more. Some doubt President Trump’s momentum because he failed to solve major federal government problems during his first term. Nevertheless, conservatives at the time were enthusiastic about Trump. They focused on his Twitter battles with San Francisco 49ers quarterback Colin Kaepernick and supported the administration despite its failure to repeal the Affordable Care Act or overhaul the Dodd-Frank financial regulations.

Of course, I might have to retract my criticisms in this column if President Trump starts building a hotel in the Gaza Strip six months from now. But now that it has been three weeks since he began his second term as president, and considering President Trump’s varied history, I can say this: “There is nothing beyond what is visible.”

Matthew Iglesias, Bloomberg Columnist

This article is a translation by Asia Economy of Bloomberg’s column ‘Don’t Mistake Trump’s Proclamations for Accomplishments.’