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.
“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.”
“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.”
Fiona Hill’s attorney rips the administration: Trump ‘co-opted’ US foreign policy for his own ends
On Thursday's edition of CNN's "Anderson Cooper 360," National Security Council official Fiona Hill's attorney, Ambassador Lee Wolosky, broke down the implications of his client's testimony.
"The phrase that she used to describe [E.U. Ambassador Gordon] Sondland's mission, a 'domestic political errand,' a lot of people have said that was a big takeaway from today, that sort of encapsulated what was going on here," said Cooper. "Does she agree?"
"Well, yeah," said Wolosky. "As she testified to, I think that what she began to notice is that, in fact, this really wasn't an irregular or shadow foreign policy effort, as some people have called it. It was actually domestic politics. She was doing national security, as were others, and foreign policy, and Sondland and Giuliani were taking steps to advance the political interests of the president. And I think that what she crystallized is how pernicious it can be when our national security and when our foreign policy decision making is basically co-opted or held hostage to the individual political interests of one individual."
‘Rudy Giuliani is the fall guy here’: CNN analyst says America’s Mayor was ‘meddling in everything’
On Thursday's edition of CNN's "OutFront," political analyst Gloria Borger suggested that President Donald Trump may just decide to cut his losses on the Ukraine scandal and blame his attorney Rudy Giuliani for any wrongdoing.
"I think at this point maybe Trump needs a fall guy," said Borger. "Rudy Giuliani is the fall guy here. He's the guy who was meddling in everything. Everybody who testified seemed to make it very clear that Rudy Giuliani was doing this at the direction of the president of the United States. I think Gordon Sondland said that, what, 20 times yesterday at the direction of the president, so it's clear Rudy Giuliani wasn't freelancing, but maybe the president feels that he needs him right now."
Trump officials could not have been ‘completely clueless’ about what he was doing: CNN correspondent
On Thursday's edition of CNN's "The Situation Room," White House correspondent Abby Phillip highlighted how Fiona Hill's testimony made the claim by other officials that they weren't aware of the scheme to extort dirt on former Vice President Joe Biden from Ukraine much less plausible.
"The idea Ukraine interfered in the 2016 election is completely unfounded," said Phillip. "This is important because it puts in context some of the other testimony we heard ... from Ambassador [Kurt] Volker and another top NSC official, Tim Morrison, who replaced Fiona Hill, that the conspiracy theory was a legitimate function of the government, it was okay for President Trump to seek that kind of investigation, was perfectly normal to them. And it wasn't until they learned 'Burisma' equaled 'Biden' they learned there was something weird or nefarious going on."