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Krugman Slams Lutnick: Growth Benefits Only the Wealthy

12/25/2025

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Summary

Story summary

Economist Paul Krugman criticized U.S. Commerce Secretary Howard Lutnick's claim that 4.3% GDP growth would raise earnings for all Americans.
Krugman said the labor market is "frozen," making it hard for unemployed workers to find jobs.
Reports describe a "split economy" with growth led by the top 20% of earners.
Polls show Americans feel economic pressure, contributing to declining approval ratings for U.S. President Donald Trump.

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Story summary

Economist Paul Krugman criticized U.S. Commerce Secretary Howard Lutnick's claim that 4.3% GDP growth would raise earnings for all Americans.
Krugman said the labor market is "frozen," making it hard for unemployed workers to find jobs.
Reports describe a "split economy" with growth led by the top 20% of earners.
Polls show Americans feel economic pressure, contributing to declining approval ratings for U.S. President Donald Trump.