Watch now   Breaking Afternoon News Updates - 10/23/25 Catch up on the news with me. Ben Meiselas and MeidasTouch Network Oct 23 By Ben Meiselas Donald Trump just got a rude awakening. His $40 billion taxpayer-funded bailout of Argentina has already failed. The Argentine peso continues to collapse, losing 10% of its value in just the first two weeks of October. Trump’s “rescue plan” for Argentina’s far-right leader Javier Milei, a move meant to prop up a fellow authoritarian, has instead shredded billions of U.S. dollars without stabilizing Argentina’s economy or government. The fallout is profound. Argentina’s overnight interest rate has soared to an astonishing 157%, while inflation continues to climb. Trump’s reckless foreign intervention, another taxpayer-funded vanity project,has only deepened global instability while draining U.S. resources. Meanwhile, back home, the economic picture is deteriorating rapidly. Despite Trump’s claims that his administration is “cutting back” on spending, federal expenditures are up 7% year-over-year. “The story that somehow the federal government is tightening its belt is contradicted by its own real-time data,” economist Aaron Sojourner observed. The reality is that Trump’s government is burning through money while slashing services for ordinary Americans. The numbers tell a grim story. The share of the U.S. economy in “expansion mode” has fallen to just 18% — the lowest level since May 2020, when COVID-19 lockdowns brought the country to a halt. “At least quantitatively,” I explained, “the economy as of right now is in a mild recession, which could be getting worse.” That’s not all. Families across the country are being hit with staggering new costs. Colorado’s insurance commissioner just warned that health insurance premiums could rise by an average of 160% next year, with the hardest-hit households facing $22,000 increases. Pennsylvania families are staring down hikes exceeding 100%. “Who can afford an additional $22,000?” I asked on-air. “Who can afford even $2,000 right now?” Even folks who have spun for Trump’s can’t hide the disaster. Polling analyst Harry Enten of CNN called Trump’s current economic approval “the worst ever,” lower than any point in his first or second term, and lower than any president in modern history at this stage of a presidency. According to Enten, Trump’s economic net approval now stands at -19 points in the Quinnipiac poll and -13 in CNBC’s. “He’s beating himself,” Enten said. “And the way you don’t want to beat yourself — record lows.” Yet while the economy burns, Trump’s corruption burns hotter. He just pardoned Binance founder Changpeng Zhao (CZ) the crypto billionaire convicted of laundering money for terrorist organizations including Al-Qaeda, ISIS, and Hamas. Trump’s own crypto venture, World Liberty Financial, is tied to Binance. It’s a pay-for-pardon scandal in plain sight. Trump’s actions have become more brazen than ever: bulldozing the East Wing of the White House without approval, using Department of Justice funds to pay himself a $230 million “settlement”, and funneling taxpayer money to political allies like South Dakota Governor Kristi Noem, who is reportedly receiving a $172 million private jet. Meanwhile, programs for children, food security, and special education are being gutted. The National Cattlemen’s Beef Association, hardly a “liberal” group, has blasted Trump for betraying American ranchers by increasing beef imports from Argentina, undercutting domestic producers while tariffs drive up costs. “You don’t know what you’re doing,” one Nebraska rancher said bluntly. All of this unfolds against a backdrop of government paralysis. Speaker Mike Johnson refuses to bring the House back into session to pay essential workers, admitting that doing so would “take the pressure off Chuck Schumer.” He’s even blocking Rep.-elect Adelita Grijalva from being sworn in, a move unprecedented in modern history, because she’s the crucial 218th vote needed to force a vote on the Epstein Files discharge petition. This is what a government looks like under authoritarian capture, where taxpayer money serves the ruler and his billionaire cronies, not the people. The data is clear. The corruption is undeniable. The suffering is real. And yet, as always, the truth matters. We will keep reporting it. Follow along for more updates on the MeidasTouch Podcast. Meidas+ is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber.