Remember that time Donald Trump claimed Kamala Harris would cause a depression if she was elected?

Remember that time Donald Trump flexed his perpetual talent for pulling capable women down to elevate himself? Of course, you do — it’s basically his brand.

During the heated 2024 presidential campaign, Trump made numerous definitive statements about economic outcomes tied to the election results. “If Kamala wins, you are 3 days away from the start of a 1929-style economic depression,” he declared in a widely shared social media post. The statement continued with a promise that his victory would deliver “the best jobs, the biggest paychecks, and the brightest economic future the world has ever seen.”

4 months ago pic.twitter.com/LOcIMPAGvK

— Republicans against Trump (@RpsAgainstTrump) April 5, 2025

What’s even more embarrassing than the statement itself? The fact that, after winning the 2024 election, Trump is now presiding over the very economic chaos he predicted Harris would unleash. Trump’s own policies — specifically his obsession with tariffs — have turned a roaring bull market into a terrified bear. The S&P 500 has already dropped 15% since his inauguration, and experts warn that it could fall further into bear market territory (a 20% drop from its peak). For context, the only other president who oversaw a similar market collapse this early in their term was George W. Bush, and even his situation was largely due to external factors like the dot-com bubble burst and 9/11. Trump, on the other hand, has no one to blame but himself.

Tariffs are essentially a tax on trade, and those costs often get passed down to consumers. So, while Trump preaches about putting “America First,” it’s really American families who are footing the bill. Meanwhile, the wealthiest 1% — the same group that benefited most from Trump’s previous tax cuts — continue to enjoy their champagne and caviar, untouched by the economic turbulence.

Let’s imagine an alternate reality where Kamala Harris won the 2024 election. According to economic projections from reputable sources like Goldman Sachs and Moody’s, the economy would likely be growing at a steady 2% or more under Harris’s leadership — higher than the 1.3% growth forecasted under Trump. Harris’s policies, which were endorsed by 23 Nobel laureates in economics, focused on providing tax relief to the middle class while asking the wealthiest Americans to pay their fair share. Under Harris’s plan, the middle fifth of Americans would have received an average tax cut of $1,980. It’s money that could go toward rent, groceries, or saving for a rainy day. Trump’s entire campaign was built on the idea that he alone could “fix” the economy, yet his actions have done precisely the opposite.