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‘Communist Policies’: Commerce Chief Under Fire for Government Ownership Plan
After President Donald Trump asserted that the United States obtained a ten-percent stake in computer chip manufacturer Intel at no cost, Commerce Secretary Howard Lutnick now says the government should pursue similar deals with other major companies, a proposal some critics liken to communism.
“I paid zero for Intel, it is worth approximately 11 billion dollars,” Trump wrote in his signature all-caps style on Monday. “All goes to the USA. Why are ‘stupid’ people unhappy with that? I will make deals like that for our Country all day long. I will also help those companies that make such lucrative deals with the United States States. I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!!! Who would not want to make deals like that?”
According to The New York Times, “the government is set to give Intel $8.9 billion — the remainder of the amount that was earmarked for the U.S. chipmaker as part of the bipartisan CHIPS Act, which President Joseph R. Biden Jr. signed into law.”
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Appearing on CNBC on Tuesday, Secretary Lutnick was asked, if the Intel deal is acceptable, what about defense companies?
“Why shouldn’t the U.S. government say, ‘You know what? We use Palantir services. We would like a piece of Palantir. We use Boeing services, we would like a piece of Boeing,'” host Andrew Ross Sorkin asked. “There are a lot of businesses that do business with the U.S. government that benefit by doing business with the U.S. government. I guess the question is, where’s the line?”
Secretary Lutnick said, “there’s a monstrous discussion about defense.”
“I mean, Lockheed Martin makes 97% of their revenue from the U.S. government. They are basically an arm of the U.S. government,” Lutnick said. “They make exquisite munitions. I mean, amazing things that can knock a missile out of the air when it’s coming towards you.”
He noted that Secretary of Defense Pete Hegseth and his deputy “are on it, and they’re thinking about it, but I tell you what, there’s a lot of talking that needs to be had about how do we finance our munitions acquisitions?”
“I tell you the way it has been done” in the past, “has been a giveaway.”
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Describing it as “a roughly $9 billion deal,” CNBC reported that “Trump’s move to take ownership of a chunk of Intel, an embattled chipmaker, is a major escalation in his efforts to achieve his economic goals by exerting more and more government control over the private economy.”
CNBC also noted that “the move has drawn heated criticism — including from some conservatives, who warn that Trump’s action cuts against free-market principles and poses risks for both Intel and the economy.”
Critics blasted the nearly unprecedented policy of having the federal government own a portion of major corporations, something that previously was done only in times of crisis, like a national emergency or the 2008 global financial meltdown.
“Quick question for the ‘it can’t happen here’ folks. What other forms of government nationalized companies?” asked Fred Wellman, host of “On Democracy.”
“What do we call reactionary nationalism plus economic socialism?” posited political analyst Armin Thomas.
“A nation owning its weapons producers is hardly unprecedented but like … what’s the point?” asked technologist Matt Spence, a former U.S. Senate advisor. “Have they articulated a goal that taking a stake in these companies will accomplish?”
Responding to Lutnick’s Intel announcement last week, GOP strategist Mike Madrid asked, “What’s it called when the government owns the means of production?”
“Crazy,” declared former U.S. Ambassador to Russia Michael McFaul. “When will conservatives start criticizing these obvious communist policies by Trump?”
Watch the video below or at this link.
Howard Lutnick on CNBC indicates that the Trump administration will try to partially nationalize defense companies like Lockheed Martin pic.twitter.com/dYAbZPtcwu
— Aaron Rupar (@atrupar) August 26, 2025
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Image via Reuters
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President Donald Trump is heading to his Florida estate on Tuesday to get a jump on the Thanksgiving holiday. The president and First Lady will be staying at Mar-a-Lago for an extended break, returning to the White House early Sunday evening.
As the First Family enjoys their six-day trip, Americans are increasingly dismayed at the state of the Trump economy, which is producing near-record-low consumer sentiment, rising and record prices at the grocery store, increasing unemployment, persistent inflation, and — as the president recently declared — tariff payments that are about to “skyrocket.”
Inflation remains strong at 3.0%. The unemployment rate is now the highest it’s been in nearly four years. Prices for items like beef, coffee, and bananas have increased by double-digit percentages. Major corporations have announced plans to lay off thousands or tens of thousands of workers. Millions of Americans are seeing their health care premiums for next year in some cases double or even triple. And according to one economist, there is a possibility that some parts of the country may already be in a recession. Another economist last week sounded the stagflation alarm.
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According to guidance from the White House, published by Roll Call, the president and First Lady will head to Palm Beach, Florida, at 6 PM on Tuesday, after pardoning the presidential turkeys.
The president has no public events scheduled on Wednesday. The only event scheduled for Thursday, Thanksgiving, is a 6 PM call with service members.
On other Thanksgivings, some presidents have visited troops in person, even overseas, or volunteered at food banks.
For Friday and Saturday, the president has no public events scheduled. On Sunday, the president and First Lady leave Palm Beach at 3 PM, headed for the White House.
Last month, President Trump was sharply criticized as “tone deaf” for hosting a Great Gatsby-themed party as millions of Americans were poised to lose their SNAP benefits.
READ MORE: Trump: Nearly All of Biden’s Pardons — Including the Turkeys — Are ‘Invalid’
Image via Reuters
A jovial President Donald Trump, set to jet off to Florida for the Thanksgiving holiday, took time on Tuesday to participate in the annual presidential pardoning of two turkeys, but told attendees at the White House that nearly all of the pardons then-President Joe Biden had performed are “invalid.”
“You remember last year,” Trump said, “after a thorough and very rigorous investigation, by Pam Bondi and all of the people, at Department of Justice, the FBI, the CIA, the White House Counsel’s Office, and the Department of Everything —we have a Department of Everything. You know what that is? I think that’s called the White House — into a terrible situation caused by a man named Sleepy Joe Biden.”
“He used an autopen, last year for the turkeys’ pardon.”
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“So I have the official duty to determine, and I have determined, that last year’s turkey pardons are totally invalid,” the president, apparently joking, told onlookers.
“As are the pardons of about every other person that was pardoned, other than, uh, where’s Hunter?” Trump continued, referring to the former president’s son.
“No, Hunter’s was good,” Trump said. “That was the one pardon Pam that was good, right? The rest of them are all invalid.”
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The president then appeared to stop joking.
“I don’t know what the h – – you’re gonna do about that, but that’s, now we’re gonna take a little of the joke, and that is a mess,” he said of the pardons.
Presidents, including President Trump, for at least decades have used autopens to sign documents. But Trump has strongly suggested that at least some of President Biden’s autopen-signed documents are invalid.
Trump: “The department of everything. We have a department of everything. You know what that is? I think that’s called the White House. Into a terrible situation caused by a man named Sleepy Joe Biden. He used an autopen last year for the turkey’s pardon.” pic.twitter.com/RpNKIEqpef
— Aaron Rupar (@atrupar) November 25, 2025
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Image via Reuters
The Consumer Confidence Index dropped sharply in November, as disillusioned Americans indicated unease in the Trump economy amid rising prices, steady inflation, tariffs, increasing unemployment, and surging layoffs that are making finding a job more difficult.
The Consumer Confidence Index dropped 6.8 points to its lowest level since April, and consumer expectations “tumbled,” CNBC reported on Tuesday.
“Consumers were notably more pessimistic about business conditions six months from now,” said Dana Peterson, the Conference Board’s chief economist. “Mid-2026 expectations for labor market conditions remained decidedly negative, and expectations for increased household incomes shrunk dramatically, after six months of strongly positive readings.”
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Now, just six percent of workers say that jobs are “plentiful,” down from 28.6% one month ago.
“Consumers’ write-in responses pertaining to factors affecting the economy continued to be led by references to prices and inflation, tariffs and trade, and politics, with increased mentions of the federal government shutdown,” Peterson also said in a statement, according to Bloomberg News.
The news comes just as another indicator of a weakening jobs market shows that “private companies shed an average 13,500 jobs over the past four weeks,” CNBC noted, citing data from payrolls processing firm ADP.
“That’s an acceleration from the 2,500 jobs a week lost in the last update a week ago,” CNBC also reported.
Other data also suggest a troubled economy.
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“Government figures out earlier on Tuesday showed retail sales moderated in September after several robust months,” Bloomberg added.
“As for November, the Conference Board’s report showed buying plans for big-ticket items, including cars and major appliances, declined. Home-buying plans also fell.”
Alex Jacquez, Chief of Policy and Advocacy at Groundwork Collaborative and a former Biden White House official, summed up his thoughts on the current situation:
“Good news: fewer people think we’re headed toward a recession. Bad news: more people think we’re already in one.”
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Image via Reuters
‘Theater of the Absurd’: Trump’s Attacks Cast Doubt on Bipartisan Funding Deals
Layoffs Surge and Consumer Confidence Tumbles Under Trump as Holidays Approach
Trump: Nearly All of Biden’s Pardons — Including the Turkeys — Are ‘Invalid’
Trump to Slip Away on Six-Day Florida Vacation as Americans Struggle With Soaring Costs
Trump to Slip Away on Six-Day Florida Vacation as Americans Struggle With Soaring Costs
Trump: Nearly All of Biden’s Pardons — Including the Turkeys — Are ‘Invalid’
Layoffs Surge and Consumer Confidence Tumbles Under Trump as Holidays Approach
‘Theater of the Absurd’: Trump’s Attacks Cast Doubt on Bipartisan Funding Deals
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