Quantcast
Connect with us

Every measure the White House used to tout a good economy has gone south: NYT economics reporter

Published

on

New York Times tax and economics reporter Jim Tankersley noted Tuesday during an MSNBC panel discussion, that the charts and graphs the White House has used to show the strength of the economy have all gone south.

President Donald Trump has alleged there is a media conspiracy to spread “fake news” about the economy, but Tankersley explained that the metrics that the White House used themselves in September are showing the economy is slowing.

ADVERTISEMENT

“Well, there’s clearly a slowdown happening in the economy. That’s what’s going on,” Tankersley said. “The White House can see it. I just published a piece updating some charts that the administration had used in September to show us all how great the economy was doing. And by almost every measure that they used to sell the health of the economy, things have gotten worse.”

Investment growth has slowed, and it was already beginning to slow when the White House bragged about it last autumn, but the numbers now show it has “fallen below the average quarterly growth rate for President Barack Obama’s second term.”

“We’re not in recession territory yet in terms of growth but manufacturing is essentially in a recession,” Tankersley continued. “And we have a lot of reason to be worried about the overall health of the global economy. So in that environment, yeah, there’s real reason to be worried, especially if you are a president who has, you know, stronger ratings — poll ratings — on the economy than on almost any other issue and you’re facing re-election next year.”

He explained that the White House has every reason to try and talk up the economy’s strength both to calm fears and to make “contingency plans for “what if things get worse because of these external and self-inflicted headwinds.”

When it comes to Democrats being willing to take up any bill that would help save Trump, Tankersley doubted it.

ADVERTISEMENT

“They would need to have a compelling case from the president of the economy was in dire need of more stimulus to think about something like a Payroll Tax cut moving quickly through Congress,” he explained. “He’s not making that case right now. It will be a very different situation if we got into the kind of thing we saw in the start of the last recession where, you know, Democrats and Republicans work together to try to inject some stimulus. We don’t have the president saying that, and I think Republicans are an academic point at this point. Democrats control the House. If you’ll do a stimulative tax cut or spending increase you’re going to have to start there.”

Read the full piece by Tankersley at The New York Times and watch his comments below:

ADVERTISEMENT


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Trump is now feuding with Iran’s Supreme Leader on Twitter: ‘Make Iran Great Again!’

Published

on

President Donald Trump is now replying directly to Iran Supreme Leader Ayatollah Ali Khamenei on Twitter.

I Friday, Khamenei tweeted a screenshot of a Trump tweet, with a message of his own.

"The villainous US govt repeatedly says that they are standing by the Iranian ppl. They lie. If you are standing by the Iranian ppl, it is only to stab them in the heart with your venomous daggers," Khamenei posted.

"Of course, you have so far failed to do so, & you will certainly continue to fail," he added.

https://twitter.com/khamenei_ir/status/1218141834842660864

Trump retweeted the message, adding his own argument.

Continue Reading

Facebook

‘Contempt of Congress is illegal’ declared one of Trump’s newest attorneys – just days before the House voted to impeach

Published

on

One of the lesser-known names on the new list of lawyers President Donald Trump approved to defend him during the Senate impeachment trial delivered a damning remark last month – damning for President Trump, that is.

"Contempt of Congress is illegal," said Robert Ray, who served as the final Whitewater independent counsel after Ken Starr.

The Washington Post's Paul Waldman and Greg Sargent report Ray made the stunning remark – one of the Articles of Impeachment essentially is contempt of Congress, or technically, obstruction of Congress – to The Daily Signal, a right wing website run by the conservative Heritage Foundation.

Continue Reading
 

Breaking Banner

Trump raises tensions in Virginia as local authorities fear Richmond gun rally could be the next Charlottesville

Published

on

President Donald Trump appeared to pour gasoline on a political fire in Virginia only days before a far-right protest that many are worried could result in violence.

Gun activists have been threatening civil war if the commonwealth's legislature enacts new gun safety legislation.

Right-wing militias sought to organize an armed action at the capitol, but Gov. Ralph Northam declared a state of emergency to prevent firearms on the grounds.

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image