Trump’s Affordability Tailspin: 50-Year Mortgages, Tariff Checks & Maybe Socialism | The Daily Show

Welcome to The Daily Show. I'm Josh Johnson. We've got so much to talk about tonight. Trump can't stop writing IOUs, Sean Hannity's diss track just dropped, and a new breakthrough will allow you to live forever

if you're a mortgage. So... let's get into the headlines.

-♪ ♪ -♪ Whoo! ♪

-♪ Whoo! Whoo! Whoo! Whoo! Whoo! Whoo! Whoo! Whoo! Whoo! Whoo! We all know the economy isn't great right now. Rent is too expensive, grocery prices are too high, people are fist-fighting in Starbucks over bear cups. The point is, it's rough out there. So no wonder last week Democrats won a ton of elections by running on affordability. And that sent President Trump into a little bit of a tailspin.

You know, they have this new word called affordability and they don't talk about it enough. We are the ones that have done great on affordability. They've done horribly on affordability. Affordability, they call it, was a con job by the Democrats. We are the victors on affordability.

I don't want to hear about the affordability because right now we're much less.

Damn, that man just went through the five stages of affordability. And I get why he feels threatened because normally he can just lie. But you're the president, and people know if they ate or not.

It doesn't matter how many hats they buy or how many photos of him and Epstein they pretend they didn't see. You can hear your stomach growling when you're hungry. They're not gonna be like, that-that must be an illegal immigrant in my stomach

stirring up trouble.

Get out of there, immigrant.

Get out of there.

But you know what? If Trump wants to focus on affordability right now, that's great. There's a lot of stuff that's too expensive. For example, houses. No one can afford a home.

Everybody keeps waiting for them to show up on Prime Day, but it never happens. So maybe Trump could do something to bring down mortgages.

The Trump administration moves forward with a plan to introduce 50-year mortgages.

Ooh! Ooh!

Or you can make them much longer, you know? Because you know where we'll all be in 50 years. Dead. You know what I mean? This seems like a bad idea, and if black people could get loans, I'd be worried.

But, hey...

Hey, maybe I'm just hating, all right? I mean, how much would a 50-year mortgage save people?

Take a $400,000 loan at 6% interest. Under a 30-year mortgage, the monthly payment would be just shy of $2,400. Under a 50-year loan, it drops to just over $2,100, a savings of nearly $300 a month.

Oh, boy!

$300 a month?

See, it's not a stupid idea. You know what?

I'm gonna apply for a 50-year mortgage right now.

But over time, that savings is erased by a much larger interest bill because while the total interest on a 30-year loan would be about $463,000, the interest on a 50-year loan would total more than $860,000.

Oh, my God.

Signed, Ronnie Chang.

Oh, my God.

So you're saying that after interest, a $400,000 mortgage is going to cost me $1.3 million? That is the opposite of affordability. This man is creating generational debt. They're going to be fighting to get out of Grandma's will. Like, grandkids will be like, I barely knew her, all right? I wouldn't even hug her at Christmas because her skin was too loose.

But look, forget mortgages, because Trump's got other plans to make sure you afford whatever you want. You're gonna be exhausted from affording. You're gonna be exhausted from affording. You're gonna afford everywhere. President Trump now says he wants to send out

$2,000 rebate checks paid for by his tariffs.

One of the things we're gonna do, we're gonna issue a dividend to, uh, our middle-income people and lower-income people of about $2,000.

Wait a second. Okay. Trump's making everybody pay tariffs, but only poor people are getting the $2,000 checks. So he's just redistributing taxes from rich people to poor people. Did Donald Trump just stupid himself into socialism?

Like... -$2,000. -$2,000. -$2,000.

-$ job, Mr. President. We always believed.

Everybody shut up. All right.

Don't say a word. Let this play out and we'll have free health care by Christmas.

All right. Nobody, nobody. Let's say a word. Let this play out, and we'll have free health care by Christmas, all right?

Nobody, nobody, you know what? $2,000 would help a lot of people.

If the money's there, the money's there. If the president sent $2,000 checks to the 150 million people who make less than $100,000, it would cost $300 billion,

even though the tariffs are only projected

to raise about $217 annually.

The money's not there. And now I'm starting to get worried because that's 83 billion dollars short and I'm not saying Trump is the worst president of all time I'm just saying I've never met anyone who was 83 billion dollars short. And by the way he's only 83 billion dollars short if he hasn't

promised the tariff money to anybody else. We're gonna take some of that tariff money that we made, we're gonna give it to our farmers. The big thing we wanna do is pay down debt.

The president tapped into tariff revenue to keep WIC money for women and infants and children going out the door.

Tariffs is one of the reasons why we have the money in the treasury to actually be able to pay our troops.

I think the tariffs will be enough to cut all of the income tax.

Donald Trump's suggesting that tariffs could fund the country's child care needs.

That'll easily pay for the Golden Dome. And we'll have a lot of money left over.

Money left over? The money that never existed is already spent. And you're running around the country promising money you do not have to multiple people many times over. Every week I'm at this desk, I say this,

and I guess I'll have to say this for three more years, but this is crackhead behavior.

-$10,000. $10,000. $10,000. $10,000.

Please, for America's sake, you can't go down this path. This is going to end up with you behind the White House with China doing unspeakable things for money. Please reassure us, when you are promising money to people, you have an idea where it's coming from.

You put out a Truth Social post earlier today where you blasted the air traffic controllers who had not shown up for work And offered potentially a bonus of $10,000 for those who have worked despite the shutdown. I'm sending them a $10,000

Where's that money coming from that? I don't know. I'll get it from someplace

Somebody please hide the dumpster behind the White House. For more on Trump's plan to give everyone $2,000, let's go live to the White House with our own Grace Kuhlman

Schmidt.

Woo! Woo! Woo!

Woo! Grace, you've been reporting on this story. Is this a serious plan? -♪ Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh,000. God, I want it so f-ing bad!

But you just said it's stupid.

Oh, it's one of the dumbest things this dumb, dumb president has ever done. It's gonna bankrupt the country and drive inflation through the roof. But on the other hand, Mommy want that money, Mommy want that f-ing money so bad!

Grace, let me explain. You've already paid this money in tariffs.

Right. I am aware. Consumers have been shouldering the costs of these tariffs. I'm not stupid. But I am American, so $2,000, please!

Yeah.

No, come on. We got to be better citizens than that. There are better ways to spend the money.

Definitely. We could put it toward Medicare for all. Or paying down the debt. And there's one other program that slipped my mind.

But maybe 2 G's might help refresh my memory.

I'm not paying you the money.

Then shut the f**k up and let Trump pay me!

So that's it then? Americans are fine bankrupting the future for some money today?

It's not just money Josh. Oh my god. It's 2,000 monies.

Forget McDonnie's free buses. With 2,000 monies, I could buy my own bus.

You can't buy a bus with 2,000 monies, I mean dollars. Why are you so hard for cash anyway? Why are you so hard for cash anyway?

I'm really behind on my 50-year mortgage.