President Donald Trump’s re-election campaign could be destroyed by a recession before a single vote is cast, an Associated Press reporter explained on MSNBC’s “Deadline: White House” on Monday.
Guest host John Heilemann read a quote from AP White House correspondent Jonathan Lemire.
“[P]rivately, Trump is growing increasingly worried the economy won’t look so good come Election Day. … Though a pre-election recession here is far from certain, a downturn would be a devastating blow to the president, who has made a strong economy his central argument for a second term,” Lemire reported. “And White House economic advisers see few options for reversing course should the economy start to slip.”
“It’s a crazy thing. I’m older than you and I have been doing this for a while,” Heilemann said. “I have rarely ever heard a White House acknowledge on background, on the record, off the record, ‘we have no options, our hands are tied.'”
“Never heard that one before,” he added.
“It was sort of striking, but that’s how they feel,” Lemire replied. “First of all, they will argue the economy is doing better than we are giving credit. They say things are going to be fine, that right now this is a creation largely of cable news studios and some jitters on Wall Street, et cetera.”
“Privately, there are some concerns, because they know this is a president who wedded himself to the fortunes of the stock market in an unprecedented way,” he explained. “Presidents don’t do this because it’s so risky. Stock markets go up and then they go down.”
And if there market goes down, the White House is admitting they don’t have the ability to deal with it.
“This president does not like to see it ever go down and will not take responsibility for this. Even though Americans will see this and say you’re taking credit so you have to take some blame too,” he explained. “They feel like there’s not going to be any real stimulus spending here. There’s not going to be an infrastructure plan. Infrastructure week has become literally a punchline. They already have an interest reserve rate cut. What’s out there is whether or not they can make some sort of trade deal happen.”
“They feel like consumer spending will pick back up and that will be enough, but right now they know that if the economy continues to falter — especially if it really slows down — that could mean, this election could be over before any votes are cast next November,” Lemire concluded.
Fox News reporter and right-wing conspiracy theorists planned to wiretap family of slain DNC staffer Seth Rich: report
The Daily Beast on Monday evening broke a bombshell report on a secret 2017 meeting in Texas on a right-wing conspiracy theory where espionage was discussed.
"One of their topics was responding to online critics of wealthy Texas businessman Ed Butowsky, who had recently been outed as a driving force behind a retracted Fox News story about murdered Democratic National Committee staffer Seth Rich," The Beast reported. "The group that gathered at Butowsky’s home included a conspiracy theorist, a Fox reporter fighting for her career, a former private intelligence contractor married to star journalist Lara Logan, and a Democratic PR operative who lost his business in the face of sexual assault allegations."
Maddow breaks down potential ‘direct financial connection’ between the Russian government and Donald Trump
MSNBC anchor Rachel Maddow read bombshell excerpts from a new book set for release on Tuesday.
The host interviewed David Enrich, finance editor at The New York Times, about his forthcoming book Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction.
The host of "The Rachel Maddow Show" read excerpts from the book.
"There was no doubt that Deutsche Bank had extensive business dealings with Russia, and those dealings included acting as a conduit for dirty money to get out of Russia and into the western financial system," Enrich wrote.
Congress still has one big tool left to rein in Trump’s corruption: Oversight Committee Democrat
Senate Republicans may have managed to quash the impeachment trial without calling forth any new witnesses or seriously considering the evidence against President Donald Trump. And the president may feel vindicated and largely invulnerable as a result.
But, Rep. Raja Krishnamoorthi (D-IL) told CNN's Anderson Cooper on Monday, that doesn't mean Democrats don't have one last big play to rein in the president's abuses of power. They can use the first and strongest authority delegated to them: the power of the purse.
"What can Democrats really do when it comes to oversight of the president?" asked Cooper. "I mean, now that impeachment is over, does seem like there are fewer and fewer guardrails, if any."