An economic 'time bomb' could blow up what's left of Trump's campaign in the next six weeks: report
President Donald Trump responds to a question about Jussie Smollett (Screen cap).
July 17, 2020
While the current economy is marked by high unemployment and shuttering businesses, things could get even worse in the next six weeks.
As Politico reports, President Donald Trump is facing "a ticking economic time bomb" that could soon destroy what remaining hope he has of winning re-election, as many schools are still not ready to reopen and expanded unemployment benefits are scheduled to run out at the end of the month.
Administration officials have put reopening schools on the front burner, as they view it as key to getting parents to feel comfortable returning to work.
However, some administration officials tell Politico that it's already way too late to push for schools to reopen, and the reality is many of them won't be ready.
"Some senior aides think the White House became invested in the school issue too late after focusing throughout the spring on reopening restaurants, bars and small businesses across states -- when schools should have been their first priority," the publication writes.
Added to this, many of Trump's economic advisers are telling him not to renew expanded unemployment insurance, which could give unemployed workers far less cash to spend, thus putting the economy in further jeopardy.
“You’ve got to take the $600 a week off the table and go back to the traditional unemployment system,” said economic adviser Stephen Moore. “You can’t keep paying people not to work.”