Support justice-driven, accurate and transparent news — make a quick donation to Truthout today!
As major firms have blared dire warnings about the effects of the U.S. and Israel’s war on Iran on the economy and the growing affordability crisis, President Donald Trump on Sunday bragged to reporters about plans for his $400 million gilded White House ballroom on Air Force One.
Holding up printed renderings of the ballroom, Trump bragged for several minutes about the extravagant-looking Corinthian columns he selected for the project. “They’re going to be hand-carved and they’re beautiful, top of the line. They’ll be Corinthian, which is considered the best, most beautiful by far.”
He revealed that the Pentagon is building a “massive” military complex underneath the ballroom that would protect from drones and other military attacks.
“The military is building a big complex under the ballroom, which has come out recently because of a stupid lawsuit that was filed,” he said. “The ballroom essentially becomes a shed for what’s being built under the military.”
Trump acknowledged the war, but said it was important to discuss the ballroom — the design for which has been heavily scrutinized in recent days.
“I’m so busy that I don’t have time to do this, but — I’m fighting wars and other things,” Trump told reporters. “But this is very important, because this is going to be with us for a long time, and it’s going to be — I think it will be the greatest ballroom anywhere in the world.”
Trump’s comments were slammed as out of touch as his war in Iran causes major harm to the U.S. and global economy — effects that the Trump administration is dismissing as they prolong the war despite constantly saying that they’ve already won and could end it at any point.
An analyst at Goldman Sachs found in research published last week that the U.S. will lose 10,000 jobs a month through the end of the year due to high energy prices caused by the war. The leisure and hospitality industry has been hit the hardest, losing 5,000 jobs a month, while retail is second-worst at 2,000 jobs lost monthly.
This research comes as the U.S. already lost 92,000 jobs in February prior to the war, due to Trump’s disastrous economic policies, which also caused job growth to come to a screeching halt in 2025.
Other warning signs have signalled a major economic downturn in coming months. The stock market is down, gas prices are up over a dollar a gallon since the beginning of the war, and economists expect the inflation rate to surge to 4 percent this year due to the war.
Working class Americans are hurting the most as Iran’s retaliatory closure of the Strait of Hormuz causes crude oil prices to soar to record heights, causing prices for a wide variety of goods to increase. This comes amid an existing affordability crisis spurred by rising housing, child care, and grocery prices across the U.S.
An important fundraising appeal: 7 Days to raise $45,000
Truthout is one of only a few platforms for justice-oriented, grassroots journalism. Today, as political censorship from the right intensifies, we have no choice but to ask for your help.
We are fundraising right now to cover our basic operating expenses. If you can support Truthout with a one-time or monthly donation, you will make a significant impact on our work. Anything you can do makes a difference — we appreciate your support.