Allies of President Donald Trump are starting to panic about bad economic signals that portend a possible recession in 2020 -- and they're admitting that such a recession would wipe out any shot the president has of winning reelection.
In interviews with Axios' Jonathan Swan, current and former Trump officials expressed concern that the president is headed for a downward spiral if the economy starts heading downward.
"I’m very worried about the latest economic data," one source described as "close to Trump" told Swan. "A lot of us are concerned. Without the narrative on the economy, he can't win."
Another former administration official similarly told Swan that Trump has already gotten as much benefit as he can from the 2017 tax cuts and from the cuts to regulations that his administration has enacted.
"Continued economic expansion is not a given," the official said. "Most of the benefits from Trump’s tax cuts and regulatory relief have already taken effect."
The source also cautioned that Trump may find it hard to find allies overseas willing to help him out at a time when he looks politically vulnerable.
"The consequences of further isolating ourselves from the world may turn out to be quite severe," the source said.