Politico on Monday reported on how Donald Trump may have imperiled his 2020 presidential campaign by failing to reach a deal with Congress on the next round of stimulus.
"After a spring and summer bolstered by cash infusions from the federal government of more than $3 trillion, the U.S. economy may have to sink or swim this fall with a relative trickle of support — presenting a significant threat to President Donald Trump’s standing as he heads into a compressed reelection campaign already trailing in the polls," Politico's Ben White reported.
"Negotiations on another large fiscal aid package remained stalled on Monday, and people close to the talks held no hope of any movement this week — perhaps even for the rest of the month. And economists mostly say Trump’s executive actions announced on Saturday would have limited impact, even if they manage to survive potential legal and operational challenges," the report explained.
Politico noted that households, small businesses and local governments are all running out of money.
"All of this means that absent a fresh breakthrough on another stimulus bill, an economy that cratered by historic proportions in the first half of the year amid the Covid-19 epidemic will have to continue to snap back without much federal help, at least beyond the easy-money policies put in place by the Federal Reserve," Politico explained. "If no deal is reached and with questions looming over Trump’s executive actions, the economy may wind up without more fiscal support just as the recovery from the depths of the Covid-19 collapse appears to be flagging."
“We are increasingly concerned that this best-they-can do stimulus from the White House will never make it to the e… https://t.co/HGZqylx7xw— Ben White (@Ben White) 1597113133.0