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Trump is driving the American economy into the ground just like he did with his casinos: Tom Steyer

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On Wednesday’s edition of CNN’s “The Situation Room,” Tom Steyer, the billionaire progressive activist who founded Need to Impeach and is now running for president, told anchor Wolf Blitzer that President Donald Trump is leading America to economic ruination — and will make it all but impossible to use our normal methods to alleviate recessions.

“What would you say to those American families who are feeling rather optimistic about this Trump economy?” asked Blitzer.

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“I would say this,” said Steyer. “What Mr. Trump has done is what he did when he was running Atlantic City casinos into the ground. He’s over-promised and alleged up and borrowed a ton of money. It feels very good in the short run. But long-term, he’s not doing the things that actually make Americans safe, prosperous and well-paid. He’s not investing in education, he’s continuing to favor only the richest Americans. Actually more equal societies where the money is spread more evenly throughout our much more stable.”

“And in fact he’s leading us in a position when if we get into a recession, we don’t have a response because he’s already spent the money that you would normally use to boost demand at the bottom of the a recession,” added Steyer.

Asked about the president’s attempts to blame the Federal Reserve, Steyer had some more harsh words.

“The Federal Reserve is supposed to be independent of politics, Wolf. That is an important part of their charter,” said Steyer. “Because every politician like Mr. Trump is always going to want the Federal Reserve to pump out as much money as they possibly can every single day of the year, every year. So what he’s doing is in and of itself wrong, but the other thing that is true is he’s trying once again to get the Fed to use all of their bullets right now, so that if we go into recession there is nothing they have left to do.”

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“That is exactly what he always does,” said Steyer. “That is how he drove those Atlantic City casinos into bankruptcy, and he’s treating the United States of America like the Trump Taj Mahal. Like we’re going to borrow and borrow and borrow and then when the bills come due, he disappears and blames somebody else. Which is exactly what he did today.”

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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2020 Election

He’s trying ‘to get under Trump’s skin’: Reporter Olivia Nuzzi outlines Joe Walsh’s impact on 2020

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Republican strategist Shermichael Singleton explained during an MSNBC panel discussion that former Rep. Joe Walsh isn't likely to peel away many voters from Trump as someone who is "Trump-light." New York Magazine reporter Olivia Nuzzi, however, thinks Walsh with have a more significant impact, whether or not he can win the primary race.

During a CNN panel discussion, Nuzzi similarly noted that Walsh's primary purpose could be to troll the president.

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CNN

Boris Johnson ‘tremendously humiliated’ Donald Trump on a global scale at G-7 meeting: CNN analyst

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United Kingdom Prime Minister Boris Johnson was one of President Donald Trump's favorite people to take over for Theresa May when she resigned this summer. But Johnson also mocked the U.S. president and humiliated him on a global scale, said New York Magazine reporter Olivia Nuzzi.

During a panel discussion on CNN Sunday, CNN's Ryan Lizza opened by saying that Johnson is in a tight spot as he's trying to negotiate Brexit while serving as an international leader to the G-7. Johnson also needs to negotiate a trade deal with Trump, but he clearly is going about it in the worst possible way.

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CNN

‘That’s total nonsense’: Bill Kristol punches Santorum right between the eyes on Trump’s failing trade policy

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CNN contributor Rick Santorum said he was personally offended on Sunday after conservative writer Bill Kristol attacked President Donald Trump's trade policy.

During a segment about Trump's trade war with China, Kristol noted that the president seems "demoralized" and "depressed."

"His economists have told him privately we're slowing down and we're at some risk of toppling into a recession," Kristol explained. "His political people have told him his numbers are going down not up."

The conservative writer pointed to Trump's racist attacks on black lawmakers as one mistake he has made.

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