U.S. Govt In Panic Mode As Recession Threat Looms
A Day After Promising There Would Be No Recession, The White House Is In A Panic Over Recession
The Donald Trump-led government of the United States is scrambling to find a way to boost the economy as their fear of a recession is growing fast.
The Washington Post reported:
Trump and top aides have spent the past few days trying to convince the public that the economy is strong and that fears about a recession are misguided. But White House officials quietly have begun scrambling for new ideas to reverse public concerns and boost business confidence.
Some administration officials have felt that planning for an economic downturn would send a negative perception to the public and make things worse, but Trump has spent much of the past week conferring with business executives and other confidants seeking input on what they are seeing in the economy.
Democrats, meanwhile, have become skeptical about the White House’s propensity to swing from one idea to the next, particularly when it comes to the trade war in recent weeks.
“Their panicking and flailing is palpable and adding more uncertainly to the economy and making a possible Trump recession more likely,” said Rep. Bill Pascrell (D-N.J.).
“They’re flying by the seat of their pants and don’t seem to have any real plan. So let’s see the fine print first.”
In a day, the White House has gone from saying that the economy is great and promising that there will be no recession to desperately searching for policies that will keep the economy strong.
Trump seems to be looking for a quick short-term fix because the recession is on track to arrive as he is running for reelection.
“A president who actually had a plan would have passed a massive infrastructure bill that would have pumped money into, and kept the economy strong,” says another report.
“Trump wasn’t content to ride on Obama’s economic coattails and not screw things up.
“He passed a massive tax cut for the wealthy and corporations while launching a trade war that China seems more than happy to wait out.
“Trump screwed up this economy, and his administration has no plan to fix it.
“The recession is coming and when it gets here, Trump and congressional Republicans will be history,” it added.