Trump’s Speech Vowed a New “Golden Age,” But His Policies Drive Us Into the Dust

 By Sasha Abramsky 

In his speech to Congress, Trump doubled down on the tariffs that economists say may trigger another Great Depression.

On Tuesday evening, hours after the Dow Jones stock index had closed — falling several hundred points for the second day straight in response to the U.S. imposing high tariffs on Canada, Mexico and China — Donald Trump addressed a joint session of Congress and declared a new “golden age of America.”

Trump administration profile: Linda McMahon

 By Robby Brod

President Donald Trump nominated Linda McMahon, 76, to serve as secretary of education on Nov. 19, 2024. McMahon is a prolific political donor, Republican fundraiser and successful businesswoman best known for her tenure as CEO of World Wrestling Entertainment (WWE). 

McMahon is being considered for the Cabinet position while a defendant in a lawsuit claiming she used her position as CEO to conceal sexual abuse committed by a former WWE staffer against the company’s teenage employees.

While McMahon has prior government experience, having served as head of the Small Business Administration during Trump’s first term, she has been chosen to spearhead America’s educational system despite having limited education leadership experience.

Who is she?

McMahon co-founded and led WWE with her husband, Vince, from 1980 to 2009, growing it from a regional promotion into a publicly traded entertainment empire worth over $1 billion. Her relationship with Trump dates back to his first WWE appearances in the 1980s, which continued through the 2000s. After leaving WWE, she served one year on Connecticut’s Board of Education and launched two unsuccessful Senate campaigns, spending nearly $100 million of her own money. 

Despite admitting “I’m not an educator” during her state board confirmation, McMahon has maintained connections to education through her longtime role as a Sacred Heart University trustee, where buildings bear her name following substantial donations. She is an outspoken advocate for school choice and charter schools.

Follow the money

McMahon has been a significant financial backer of Republican causes and her fundraising efforts on behalf of Trump’s campaigns have made her a key figure in GOP circles.McMahon’s exact net worth remains a mystery as she and Vince share an estimated $3 billion fortune. They announced their separation after Linda was announced as Trump’s Cabinet pick, just weeks after jointly spending millions to re-elect Trump.

• During the 2024 election cycle, the McMahons were Trump’s sixth largest individual donors, having contributed $20.3 million to the presidential campaign and outside organizations backing Trump.
• The McMahons donated $360,000 to Trump’s campaign during the 2020 election.
• In 2016, they contributed $7.2 million to support Trump’s presidential bid after he secured the Republican nomination.
• During McMahon’s first year in Trump’s Cabinet, she and her husband earned at least $100 million from dividends, interest, and sales of investments.
• The McMahons’ family foundation has given over $20 million to around 80 groups since 2006, according to public tax filings. This includes at least $12 million to Sacred Heart University and $2 million to her alma mater, East Carolina University.

Sexual abuse lawsuit

Three weeks before being announced as Trump’s pick to head the Department of Education, McMahon was named as a defendant in a lawsuit which claims that during her tenure as CEO of WWE, she and Vince failed to protect teenage workers at the company from being sexually assaulted by a ringside announcer. The suit claims Linda and Vince knew of the assaults, which occurred during the 1970s, 1980s and 1990s, and actively worked to conceal them. The litigation is currently on hold as the Supreme Court of Maryland revisits the state’s statute of limitations laws for sexual assault filings. The McMahons deny the lawsuit’s claims.

Vince resigned as CEO of TKO, WWE’s parent company, due to a separate federal lawsuit filed by a former employee who accused Vince of sex trafficking, harassment, and illegal hush money payments. 

Why does it matter?

McMahon’s nomination raises questions about the future of federal education policy and leadership given her limited experience in the field. She will likely be responsible for overseeing Trump’s commitment to dismantle the Department of Education.

• Her brief tenure on a state board of education suggests a further deprioritization of traditional education policy expertise under Trump.
• Trump framed McMahon’s nomination around “parents’ rights” and returning control of education to states, potentially signalling a pullback of federal involvement in areas like national standards, funding and civil rights enforcement in schools.
• McMahon’s involvement in ongoing litigation could prove a major distraction.
• Her close financial ties to Trump, including her family’s campaign contributions and fundraising on his behalf, may fuel criticism that her nomination is based more on political patronage than qualifications.
• Critics could argue McMahon’s selection and the significant investment earnings she made during her previous Cabinet stint reflect a concerning trend of Trump rewarding wealthy allies with powerful posts.

This article originally appeared in Open Secrets on January 27th, 2025

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Analysis Finds Trump Tariffs Will Cost Average US Family $1,600 or More Per Year

 By Jessica Corbett

The trade war Trump is igniting will weaken our economy and cause chaos in our marketplace as Americans pay the cost in the form of higher prices on everyday items," said Rep. Don Beyer.

As U.S. President Donald Trump's new tariffs took effect on Tuesday, Congressman Don Beyer released a Joint Economic Committee report showing that the policies could cost the average working-class family in the United States at least $1,600 annually.