Robert Reich said that the odds of a recession are now over 50% and that Donald Trump is skating on very thin ice.
Former Labor Secretary Reich said on MSNBC’s The Beat with Ari Melber, “I think the economy really is the central issue right now. Everybody knows about Donald Trump’s racism. Everybody has witnessed his xenophobia and nativism. The real new issue is the economy is very, very fragile. It’s not just the stock market. We noted that nothing trickled down. That trickle-down tax cut was a huge — it was a huge mistake, it was a know able mistake. He knew exactly what he was doing but a mistake in the sense that the American public as we saw in the 2018 election actually began to understand that there was no trickle down. It only trickled up. And this kind of skepticism about Trumpanomics is going to be very, very soon widespread. He’s the only president since the Second World War never to have favorabilities above 50%. That never has there been more than half of the public who can have liked the job he’s doing and now he is, I think skating on very, very thin ice. Nobody wants a recession. I think the chances of recession are now over 50%.”
— Sarah Reese Jones (@PoliticusSarah) August 14, 2019
The warnings are getting louder from economic experts that the United States is heading for a recession, but Donald Trump is refusing to listen. Instead, Trump is falsely proclaiming that US coffers are being filled by the Chinese and that America is winning the trade war.
Presidential incumbency is a gigantic asset for a reelection campaign to have, but Trump presidency is new territory. Never in the history of polling has their being a president who began his term unpopular, and stayed unpopular.
The conventional wisdom about incumbency may not apply to Donald Trump.
A recession appears to be coming, and an economic downturn will be the final nail in Trump’s political coffin.
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