Rep. Jake Auchincloss (D-MA) criticized President Donald Trump for prioritizing his meme cryptocurrency over addressing key economic issues facing the country on Friday.
The Massachusetts Democrat joined Fox News’ The Story with Martha MacCallum when the host asked if Democrats were hoping for a recession to bolster their midterm election chances.
“No, I represent 800,000 people worried about how badly the economy is managed,” Auchincloss replied. “Every local chamber of commerce, every small business owner I speak with mentions one thing consistently: uncertainty. Uncertainty is toxic for businesses, and that’s exactly what we’re seeing from this administration.”
MacCallum noted the impact of Trump’s tariffs on the markets and asked Auchincloss if there was any scenario in which Democrats might support the president’s trade agenda.
Auchincloss replied that he was only concerned with a stable economy and questioned Trump’s priorities.
“I was a Marine before I was a congressman,” he said. “I want a strong economy regardless of who is in the White House. But this president seems more interested in the valuation of his meme coin than in people’s retirement accounts, their 401Ks, or the broader health of the economy.”
The congressman then criticized Trump’s Commerce Secretary, Howard Lutnick, who has invested heavily in digital currencies.
“Howard Lutnick owns a crypto business, and the president is closely aligned with him,” Auchincloss told MacCallum. “We’ve got a commander-in-chief whose close associates stand to benefit personally from cryptocurrency volatility. That’s not good governance, it’s profiteering.”
Auchincloss said Trump’s tariff policies and corrupt investments were frightening business owners nationwide.
“This uncertainty is causing job creators to hesitate,” the congressman said. “They’re reluctant to hire, expand, or invest, and that hesitation alone risks tipping our economy into recession. Americans deserve better leadership.”
Trump unveiled a meme coin in January that, on paper, quickly made him billions of dollars.
