555
submitted 9 months ago* (last edited 9 months ago) by MicroWave@lemmy.world to c/news@lemmy.world

“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”

The US labor market, which in recent months had ground nearly to a halt, now appears to be entering a downward spiral.

As reported by the Washington Post on Thursday, new data from corporate outplacement firm Challenger, Gray & Christmas found that employers in October announced 153,000 job cuts, which marked the highest number of layoffs in that month since October 2003.

Total announced job cuts in 2025 have now reached 1.1 million, a number that the Post describes as a “recession-like” level comparable to the steep job cuts announced in the wake of the dotcom bust of the early 2000s, the global financial crisis of 2008, and the onset of the Covid-19 pandemic in 2020.

you are viewing a single comment's thread
view the rest of the comments
[-] tal@lemmy.today 13 points 9 months ago* (last edited 9 months ago)

“Trump put billionaires in charge of everything,” said progressive Congressman Greg Casar. “It’s a disaster.”

While his cabinet is wealthy, it mostly is not billionaires (though we'll see where they wind up, since I understand that some of the policy they're running, like making executive decisions on tariff exemptions, is pretty open to corruption).

https://www.forbes.com/sites/kylemullins/2025/08/13/inside-the-richest-presidential-cabinet-ever/

Name Role Net worth
Donald Trump President $5,500,000,000
Howard Lutnick Secretary of Commerce $3,300,000,000
Linda McMahon Secretary of Education $3,300,000,000
Scott Bessent Secretary of the Treasury $600,000,000
Doug Burgum Secretary of the Interior $100,000,000
Chris Wright Secretary of Energy $100,000,000
Lori Chavez-DeRemer Secretary of Labor $35,000,000
Brooke Rollins Secretary of Agriculture $15,000,000
Robert F. Kennedy Jr. Secretary of Health and Human Services $15,000,000
JD Vance Vice President $12,000,000
Pam Bondi Attorney General $5,000,000
Kristi Noem Secretary of Homeland Security $5,000,000
Sean Duffy Secretary of Transportation $5,000,000
Scott Turner Secretary of Housing and Urban Development $4,000,000
Pete Hegseth Secretary of Defense (well, now War, I suppose) $3,000,000
Marco Rubio Secretary of State $1,500,000
Doug Collins Secretary of Veterans Affairs $1,000,000

I guess you could maybe count Elon Musk, who has...I dunno, I guess ~$300 billion at the time that he was running around the White House. But that's just Musk, Trump, Lutnick, and McMahon that break the billionaire bar.

[-] Thunderbird4@lemmy.world 18 points 9 months ago

I’m actually kind of shocked by the names at the bottom of the list. Like really? Marco Rubio’s entire net worth is less than a cheap house in the SF Bay Area?

[-] village604@adultswim.fan 16 points 9 months ago

That's just reported. I'm sure he has money hidden somewhere.

[-] ToastedRavioli@midwest.social 7 points 9 months ago

Same as how Trump is probably not actually worth $5B and its inflated, considering he acts like a broke ass bitch that cant even afford a McChicken sandwich

[-] village604@adultswim.fan 4 points 9 months ago

Well, idk about Rubio's finances, but Trump is in debt up to his eyeballs.

[-] tal@lemmy.today 6 points 9 months ago

I would take this opportunity to point out that housing in the Bay Area is in ludicrously short supply and has driven house prices to pretty stupid levels. YIMBY's been banging on it, but...

[-] heavy@sh.itjust.works 5 points 9 months ago* (last edited 9 months ago)

I don't think they meant that literally, even if *there are an alarming amount of billionaires in cabinet positions. Consider the meetings and dinners with billionaires, hiring Musk as "not really" an employee, lawsuits settling for acquisitions and mergers, the White House east wing slush fund, the Qatari jet and now air base in Idaho, crypto scamming, rich guy pardons.

Essentially this administration has never been more up for grabs or influencable by money.

[-] asRomeBurns1979@lemmy.world 5 points 9 months ago

When he announced a WWE CEO as head of education for the first time ever I started wondering if we’re in a simulation. Top bracket satire.

this post was submitted on 07 Nov 2025
555 points (98.6% liked)

News

38985 readers
3797 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source. Clickbait titles may be removed.


Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials, videos, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.


7. No duplicate posts.


If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners or news aggregators.


All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 3 years ago
MODERATORS