Trump, Venezuela, President Nicolás Maduro, oil

by BLACK ENTERPRISE Editors

February 14, 2025

Here’s A Breakdown Of The Real Impact Of Trumponomics

Under Trump, the national debt surged as a result of revenue shortfalls from tax cuts.

Written by Bill Cunningham

Originally published on Trumponomics.

Trump’s economic policies, including tax cuts, deregulation, and trade tariffs, significantly affected different sectors of the economy. While some businesses benefited from tax breaks, others suffered from increased import costs due to tariffs. The national debt surged as a result of revenue shortfalls from tax cuts. The long-term impact includes widening income inequality and financial instability.

Beyond these core issues, uncertainty generated by inconsistent policies and erratic decision-making undermined business confidence. The so-called “Gulf of America” concept, which alienated global allies, further harmed trade relations. U.S. brands faced backlash and reduced demand in Canada, Mexico, and worldwide due to deteriorating diplomatic relations. Additionally, the dismantling of institutions like USAID and the Consumer Financial Protection Bureau (CFPB) weakened international development efforts and consumer protections, leading to further economic instability and loss of public trust.

Fact-Checking Trump’s Economic Claims

Throughout his presidency, Trump frequently claimed that his policies resulted in the greatest economy in history. However, data from the Bureau of Labor Statistics and the Federal Reserve indicate that pre-existing trends in job growth and stock market performance continued rather than improved significantly. Additionally, GDP growth under Trump did not exceed that of previous administrations.

The Business of Trumpism

Trumpism is not just a political ideology but a financial ecosystem. The Trump brand capitalized on political influence through real estate, media ventures, and political fundraising. The launch of businesses like Truth Social and strategic monetization of political campaigns through PACs highlight the blending of business and politics. Many Trump-affiliated businesses have faced scrutiny over their financial practices, including conflicts of interest and legal challenges.

The Economic Legacy of Trump

Trump’s first term left a lasting economic impact marked by soaring national debt, weakened global trade alliances, and increased wealth inequality. His administration’s tax cuts disproportionately benefited the wealthy while failing to generate sustained economic growth. Trade wars with China and other nations disrupted supply chains, harming American manufacturers and farmers. The rolling back of financial regulations increased systemic risk, leading to instability in several sectors.

The economic fallout from his administration’s mismanagement of the COVID-19 pandemic further exacerbated financial hardships, with historic levels of job losses and a delayed recovery compared to other advanced economies. The closure of key consumer protection agencies and the weakening of regulatory oversight exposed middle- and lower-income Americans to greater financial risks. Overall, Trump’s economic policies prioritized short-term stock market gains over long-term economic stability, leaving a fragile and debt-laden economy for future administrations to address.

Trump vs. Biden: Economic Comparison

Comparing key economic indicators under Trump and Joe Biden provides critical insights into their economic policies.

GDP Growth: Trump averaged 1.6% annually, with a steep decline due to COVID-19. Biden averaged around 2.3%.

Unemployment Rate: Trump saw unemployment fall to 3.5% before COVID-19 mismanagement spiked it to 14.7%. Biden reduced it from 6.3% to around 3.9%.

Inflation: Trump’s saw an average inflation rate during his first term of 1.8%, while Biden experienced higher inflation at 3.5%, driven by supply chain disruptions and monetary policy procedures required to prevent the economy from falling into recession following COVID.

National Debt: Trump’s tax cuts added $7.8 trillion to the national debt. Biden’s policies continued deficit spending but at a much lower scale.

For a deeper dive into economic comparisons, check out these resources:

by Kandiss Edwards

February 14, 2025

TikTok Has Returned To Google And Apple App Stores

TikTok is available for download.

TikTok was restored in both Apple and Google app stores. The return comes after weeks of uncertainty over the app’s future.

Users received the news when opening the platform on Feb. 13.

“TikTok is now available on the App Store and Google Play. Download the latest version of the app to discover and share more of what you love on TikTok,” the message said.

The announcement follows newly appointed, U.S. Attorney General Pam Bondi sending a letter to the companies dismissing legal action, according to Bloomberg.

@maddyhiller the 99+ notifications like catch me up guys!! #fyp #tiktokbackonappstore #tiktokban #greenscreen ♬ original sound – nickharris

All app store platforms were granted a reprieve for hosting the ByteDance property by President Donald Trump on Jan. 21, one day after his inauguration. The president gave ByteDance, a Chinese company, 75 days to sell half of its company to an American entity.

“I am instructing the Attorney General not to take any action to enforce the Act for a period of 75 days from today to allow my Administration an opportunity to determine the appropriate course forward,” the order reads.

The initial mandate for the company to sell its intellectual property came in early 2024. Congress overwhelmingly voted to ban TikTok from U.S. users, claiming the app is a threat to national security.

Complying with the order, TikTok shut down the app, rendering it useless, on Jan. 18. The app was restored on Jan. 19, and with its return came a message thanking President Trump for his assistance.

In the days leading up to the official ban, many of the app’s 170 million users migrated to Xiahongshu, or “Little Red Book.” Ignoring congressional concerns that Chinese-based companies had access to Americans’ personal data, users downloaded the app in defiance.

The return of TikTok to the app store restores U.S. users’ access to the Chinese-owned app. There have been no reports of a merger between ByteDance and any U.S. company.

RFK Jr, Robert Kennedy, Trump, Make America Healthy Again

by Sharelle B. McNair

February 14, 2025

‘Make America Healthy Again’ Commission Established Following RFK Jr.’s HHS Confirmation

President Donald Trump signed the executive order to form the commission on Feb. 13.

Just hours after the controversial Robert F. Kennedy Jr. was confirmed as the new Secretary of the Department of Health and Human Services (HHS), President Donald Trump announced the “Make America Healthy Again” commission to combat chronic diseases, NBC News reports.

Trump signed the commission’s executive order on Feb. 13, revealing it will consist of high-ranking federal officials such as the Environmental Protection Agency administrator, commissioner of the Food and Drug Administration and the directors of the National Institutes of Health and the Centers for Disease Control and Prevention.

The commission aligns with some of the priorities Kennedy shared during his confirmation hearing, suggesting a pause on infectious disease research to shift to studying chronic disease origins despite research already establishing the two as being closely related.

“Americans of all ages are becoming sicker, beset by illnesses that our medical system is not addressing effectively. These trends harm us, our economy, and our security,” the order reads.

The newly confirmed secretary will chair the commission. Within its first 100 days, Fox News reports, it is expected to publish “an assessment that summarizes what is known and what questions remain regarding the childhood chronic disease crisis and include international comparisons.”

In 180 days, a new strategy on the findings is expected to be produced.

On the campaign trail, Trump and Kennedy heightened advocacy on youth autism, a condition that the White House says affects one in 36 children. In 2023, the Centers for Disease Control and Prevention (CDC) estimated autism was frequently being diagnosed in Black children over white kids in the U.S. Close to 3% of Black, Hispanic, and Asian or Pacific Islander children have obtained an autism diagnosis in comparison to 2% of white kids.

After the findings, experts attributed the change to increased awareness, advocacy and screenings for Black families. University of Pennsylvania psychiatry professor Davis Mandell called it a “rush to catch up.”

While the Republican-controlled Senate voted 52–48 to confirm Kennedy, public health experts have openly expressed concern about the conspiracy theorist rising as a figure in the alternative health world.

Prior to being confirmed, Kennedy endorsed a number of debunked ideas. During the hearing, he backtracked on anti-vaccination claims, stating he would support the CDC’s recommended vaccination schedule. But experts remain on high alert as Kennedy hasn’t done much to massage thoughts of promoting an anti-vaccine agenda with HHS.

Outside of autism, the order also calls for a focus on the rising rates of cancer, obesity, diabetes, and asthma.

by Kandiss Edwards

February 14, 2025

AP Journalist Barred From White House In Retaliation For Employer Not Acknowledging ‘Gulf of America’

The Associated Press denounced the Trump administration's action as unconstitutional.

The Trump administration barred an Associated Press (AP) reporter because the news service refused to update its style guide to comply with an executive order that renamed the Gulf of Mexico as the Gulf of America.

According to the AP, its reporter was barred from entering the White House on Feb. 11.

The AP did not name the reporter, who followed regular procedures but was denied entry. Another reporter attempting to enter the White House Diplomatic Reception Room was also rejected.

“Today, we were informed by the White House that if AP did not align its editorial standards with President Donald Trump’s executive order renaming the Gulf of Mexico as the Gulf of America, AP would be barred from accessing an event in the Oval Office,” Julie Pace, the Associated Press’ senior vice president, said in a statement. “This afternoon, AP’s reporter was blocked from attending an executive order signing.”

Pace sent a letter to the White House to express her opposition to the move.

News: The AP's exec editor Julie Pace sent a letter to the White House today objecting over AP reporters being blocked from events: "It is among the most basic tenets of the First Amendment that the govt cannot retaliate against the public or the press for what they say" pic.twitter.com/oRAj9DqGis
— Katie Robertson (@katie_robertson) February 12, 2025

As the executive order changed the name of the shared territory, the AP chose to continue using the name “easily recognizable to all audiences.”

“The body of water has shared borders between the U.S. and Mexico. Trump’s order only carries authority within the United States. Mexico, as well as other countries and international bodies, do not have to recognize the name change.”

“It is alarming that the Trump administration would punish AP for its independent journalism,” Pace said. “It plainly violates the First Amendment.”

The AP, which honored Denali’s change to Mount McKinley since it lies fully in American territory, did not reveal plans to take action.

by Cedric 'BIG CED' Thornton

February 14, 2025

Kevin Durant Joins Bid To Bring WNBA Franchise To Austin

Durant played a year at the University of Texas before starting his magnificent pro career.

Future NBA Hall of Famer Kevin Durant, who starred at the University of Texas for a year before starting his brilliant NBA career, wants to bring a WNBA franchise to Austin.

According to KVUE, the city of Austin has submitted a bid to bring a professional women’s team to town. Durant, currently with the Phoenix Suns, has joined with former WNBA champion and fellow Texas Longhorn Fran Harris, former Milwaukee Bucks owner Marc Lasry, and investor Jenny Just.

The group’s offer was submitted at the end of January. The team would be the WNBA’s 16th franchise.

Harris, an entrepreneur who once presented on Shark Tank, attended the University of Texas at Austin from 1982 to 1986, when the team finished 34-0 record and took home the NCAA Women’s Championship. They were the first women’s team not to lose a game in a season. She later played overseas.

She has been on board with trying to bring a franchise to the city for two years. But Harris says 10 cities are vying for that lone franchise spot.

Now, it’s a waiting game.

“Could be anywhere from April to the end of May…the latest we would hear back is in the fall,” Harris said. “Our goal is to play in 2027. We want to tip off in the summer of 2027, which means that we’ll need an answer from the WNBA in the next month or so.”

There’s a lot to do. The city has to start preparing to attract the necessary money, corporate sponsors and facilities to accommodate a WNBA team.

“I believe Austin is at the top of that list. We are a city that’s always embraced and celebrated women’s sports, women’s basketball. We are a great sports town,” Harris said.

by Sharelle B. McNair

February 14, 2025

Rep. Ayanna Pressley Continues To Fight For Racial Equity By Reintroducing Legislation For Reparations

Way to fight back, Rep. Pressley!

Rep. Ayanna Pressley (D-Mass.) announced plans to reintroduce H.R. 40, also known as the Commission to Study and Develop Reparation Proposals for African-Americans Act, as a way to fight back against the Trump administration’s federal DEI rollback, NBC News reports.

Despite having a Republican majority in the House, Pressley plans to push forward on the bill that had 130 co-sponsors during the last session, stating that the country is in “a moment of emboldened white supremacy and anti-Black racism.” “We have a hostile administration working actively to roll back decades of progress and more recent progress when it comes to our civil rights,” the congresswoman said while labeling the country as being at “a painful inflection point.”

The bill was first introduced by the late Democratic Rep. John Conyers in 1989, and when he retired in 2017, the late Rep. Sheila Jackson Lee took over as the lead sponsor, according to a 2021 article from NPR. Its name is a reference to formerly enslaved people getting their “40 acres and a mule,” the bill initially would align a 13-person commission to study the effects of slavery and racial discrimination in the United States. The commission would hold hearings to submit its findings to Congress.

Later, recommendations of “appropriate remedies” would be provided, along with the consideration of a “national apology” for the harm caused as a result of slavery. “I don’t think anyone could argue against the fact that the trajectory of slavery has gone through the centuries, the decades and is in the DNA of descendants of enslaved Africans,” Jackson Lee once said during an interview.

“America would do well to try to bring healing and repair in this time and this century.”

Presently, Pressley is carrying the torch amid the ban on DEI policies, labeling them “illegal and discriminatory” and encouraging Fortune 500 businesses to walk back on equity promises. Despite President Donald Trump saying in 2019 that he didn’t see federal reparations happening, a 2021 survey revealed that 77% of Black Americans supported issuing reparations tied to slavery. Only 18% of white Americans agreed. “I’m working actively to blunt the assaults from a hostile administration that means harm to everyone that calls this country home but will have a disparate impact on Black Americans,” Pressley said.

“Because throughout history, it has been proven that when other folks catch a cold, Black folks, figuratively, catch pneumonia.”

While roadblocks persist, Pressley is pressed to keep the bill at the forefront, including support from Senate leaders like Sen. Cory Booker (D-NJ), who introduced the Senate equivalent in January 2025. Civil rights attorney and reparations advocate Nkechi Taifa supports the congresswoman’s efforts, stating, “We are in undeniably challenging times now” and “it is essential that H.R. 40 remain our North Star.”

In addition to reparations, the Massachusetts elected official is tackling legislation surrounding government-managed trust funds known as baby bonds, criminal justice reform, and a slew of racial equity matters while serving. Pressley says she loves “doing the work of consensus building.”

“I think I will breathe a new iteration of life into this movement,” the congresswoman said.

by BLACK ENTERPRISE Editors

February 14, 2025

Melba Moore To Receive Legacy Award At BE’s 19th Annual Women Of Power Summit

The singer will be honored next month.

Legendary singer Melba Moore is set to receive a tribute at BLACK ENTERPRISE’s 19th Annual Legacy Awards Gala that begins the 2025 Women of Power Summit in Las Vegas from March 5-9.

The gala honors iconic women who exemplify resilience, strength, and excellence. Moore’s 50-plus-year career has proven her legacy and power.

In 2023, she was awarded a star on the Hollywood Walk of Fame. First lady Michelle Obama also honored Moore, who spoke to her power as an artist and someone who lets her voice resonate in a world that may not always appreciate it.

“There is power in allowing yourself to be known and heard,” Obama wrote. “In owning your unique story, in using your authentic voice.”

View this post on Instagram

A post shared by Melba Moore (@melba1moore)

The thespian and singer has had a career of firsts, using her voice to travel the difficult road to success. Moore is the first Black American woman to win a Tony Award for Best Featured Actress in a Musical for her work in Purlie in 1970.

In 1972, Moore hosted The Melba Moore/Clifton Davis Hour, a primetime variety show on CBS. In 1985, Moore was one of only three Black women nominated for a Grammy Award in the Best Female Rock Performance category.

Some may forget the maverick’s accomplishments, but Moore’s voice is embedded in the community’s psyche as one of the singers of “Lift Every Voice and Sing,” also known as the Negro National Anthem. Though the song was written by James Weldon Johnson and first performed by the Stanton School Choir in 1900, Moore’s version is preserved in Congressional records for posterity.

At 79, Moore continues to perform internationally. “How do you say thank you?” she told Forbes. “And how do you inspire other people to do the same thing? It’s not all about you.”

Register for the BE Women of Power Summit to witness this cultural icon receive her Legacy Award.

by Jameelah Mullen

February 14, 2025

The Student Freedom Initiative and Stackwell Expand the Student Investment Program for HBCU Students

Launched in 2023, the SIP program has taught finanical literacy to more than 400 students.

The Student Freedom Initiative (SFI) and Stackwell have announced they are expanding their Student Investment Program (SIP). The program is a partnership between the two organizations that provides student participants with financial literacy and investment techniques to prepare them for long-term economic health. Additionally, up to 600 students will receive $1,000 to kickstart their investment journeys.

The program will focus on 10 historically Black colleges: Alabama State University, Bowie State University, Clark Atlanta University, Fayetteville State University, Florida A&M University, Hampton University, Lincoln University, Morehouse College, Texas Southern University, and Tuskegee University.

Keith B. Shoates, president and CEO of Student Freedom Initiative, said that the Student Investment program aims to prepare students to break the cycles of financial instability in Black and other marginalized communities. The SIP program received $1.65 million in philanthropic grants from several companies, including the Prudential Foundation and the Institute for Consumer Money Management.

The expansion of SIP comes after the initial program, launched in 2023, positively impacted students’ financial literacy. A study conducted by Financial Health Network found that out of the 400 participants, 63% of students said they felt more on track to reach their financial goals. There was a 167% increase in students who felt more knowledgeable about investing. Additionally, the report found that the program had a significant impact on women; 84% of the female participants said they felt more confident with investing at the end of the program.

Trevor Rozier-Byrd, founder and CEO of Stackwell, said the company looks forward to expanding the program and helping more students achieve financial success.

“Through SIP, we are breaking down barriers to wealth, equity, economic mobility, and our shared prosperity with increased stock market investment and enhanced financial wellness education,” Rozier-Byrd said. “We could not be prouder of the outcomes we share today and the work we will continue to do alongside SFI and their funding partners.”

by Mitti Hicks

February 14, 2025

Zirtue: The Black-Owned App Lending Money To Family Without Hurting Relationships

Zirtue is a relationship-based lending app revolutionizing how people borrow money.

Lending money to family members and friends can be uncomfortable. One challenge is that it’s unclear when the borrower will pay you back. The other pain is when the money loaned was used for something different than the borrower’s request. That’s why Dennis Cail created Zirtue.

Zirtue is a relationship-based lending app revolutionizing how people borrow money from family and friends while ensuring relationships stay intact for the holidays. Cail tells BLACK ENTERPRISE that his personal experiences with family inspired the app.

“My family members would borrow money from me, and I had limited success in getting that money back,” he says. “I thought there should be an app that could help mitigate that stress and strain on the relationships when people are kind enough to help a loved one out.“

Relationship-based lending works with Zirtue because the users only borrow or lend money from people they know. It’s not a crowdfunding app, and credit scores will not hinder users from borrowing money. People needing cash will put in the amount needed from their family or friends and set up their own loan terms. Borrowers have to select what the bill is for and add the biller’s information. Family members or friends who accept the borrower’s loan terms will pay the bill directly to the biller versus the borrower.

Before borrowers can request a loan, they must link a bank account or debit card. Zirtue drafts the amount that borrowers agreed to pay their lender each month until the loan is fully repaid.

How Zirtue Eliminates Predatory Lending Practices

In addition to his personal experiences lending family members money, Cail witnessed firsthand how lending companies prey on the most vulnerable communities.

“I grew up in low-income public housing in Monroe, Louisiana,” says Cail. “We didn’t have any banks, credit unions, or FinTech companies in my neighborhood, but we had several liquor stores and pawn shops that would cash your check for 30% of whatever your check was.”

He says it was a similar scene to his childhood when he left the naval base after boot camp, where there were Pay-Day lenders, Buy-Here, Pay-Here Car Lots, and rent-to-own furniture stores.

“It never sat right with me that the most underserved people who needed the most help were the ones that were being the most taken advantage of,” he says. “It hit me at that moment [after walking out of bootcamp] that all these predatory lenders are targeting every demographic that I’ve been a part of, which is a minority, low income, and military veterans.”

Predatory lending practices are why Cail made sure that users pay no interest on loans. He also recognizes that people don’t always have a network of support, which is why the company just launched the Zirtue Foundation.

“The foundation is providing bill pay grants to people,” says Cail. “It’s for people who can’t find a friend or family member, but their lights will be turned off at midnight. We’re doing this by way of our corporate partnerships and our foundation partnerships.”

by Jeroslyn JoVonn

February 14, 2025

Issa Rae Becomes Part Owner Of Major League Soccer Expansion Team San Diego FC

Issa Rae is staking claim in the sports industry with her latest investment.

Issa Rae has extended her business portfolio into the sports realm after becoming part owner of Major League Soccer expansion club San Diego FC.

MLS Soccer reports that on Feb.11, the actress, producer and entrepreneur was announced as a new owner of San Diego FC ahead of the team’s 2025 launch. The collaboration was a natural fit, as Rae has built her successful career in media and the arts by fostering community connections and amplifying diverse voices—principles that align with SDFC’s mission to unite and inspire through the global game of soccer.

“Joining San Diego FC’s ownership group is an incredible honor, and I am thrilled to be part of building something that represents and uplifts this vibrant community,” Rae said in a statement.

“Soccer is a universal language that has the power to bring people together, and I look forward to contributing to San Diego FC’s journey as we make history in MLS.”

Rae is the latest club owner of San Diego FC alongside World Cup winner Juan Mata, retired US Navy SEAL Jocko Willink, and Founding Partner and San Diego Padres’ perennial MLB All-Star Manny Machado. Her investment in the team was made through Pave Investments, a private African investment firm that played a key role in leading an investment group for NBA Africa in 2021.

As part of this commitment, Pave Investments Chairman Tunde Folawiyo and Founding Director Kwamena Afful will also join the San Diego FC ownership group.

“We are beyond excited to welcome Issa Rae to the SDFC family,” said SDFC CEO Tom Penn. “Issa’s passionate connection to the Right to Dream mission aligns perfectly with our vision.

“Right to Dream is a world-renowned academy system dedicated to identifying and nurturing talent, and with Issa joining our ownership group, we are further strengthening our commitment to growing its impact both domestically and globally. Her influence and perspective will be invaluable as we continue building a world-class football club that reflects the diversity and energy of San Diego. Just as importantly.”

San Diego FC will debut on Feb. 23, facing off against the reigning MLS Cup champions, LA Galaxy, at 7 PM ET (MLS Season Pass). Their first home match at Snapdragon Stadium is set for March 1 against St. Louis CITY SC at 10:30 PM ET (via MLS Season Pass).