Trump’s allies fear he is ‘running out of tools' to boost US economy: report

Trump’s allies fear he is ‘running out of tools' to boost US economy: report

Nothing can do more to sink an incumbent president’s chances of winning reelection than an economic downturn: President Herbert Hoover, thanks to the Great Depression, suffered a landslide defeat in 1932 at the hands of Democrat Franklin Delano Roosevelt — and President George H.W. Bush went from having stellar approval ratings in 1990 and early 1991 to being voted out of office in 1992. President Donald Trump has never even come close to the 89% approval rating that Bush 41 enjoyed in March 1991 (according to Gallup), and journalist Jonathan Swan is reporting in Axios that Trump’s allies fear he is losing ground where the economy is concerned.


An anonymous source identified by Swan as “close to President Trump” told Axios, “I’m very worried about the latest economic data. A lot of us are concerned. Without the narrative on the economy, he can’t win.” And a former senior White House official, also quoted anonymously, told Axios that Trump is “running out of tools” when it comes to trying to boost the U.S. economy.

A former senior White House official told Axios that bragging about the GOP tax cuts enacted in late 2017 won’t work to Trump’s advantage indefinitely.

“Continued economic expansion is not a given,” that source told Axios. “Most of the benefits from Trump’s tax cuts and regulatory relief have already taken effect.”

The source expressed worries about Trump’s protectionist and isolationist economic policies, warning Axios, “Rather than attack the global system that has produced so much prosperity for America, Trump would do well to harness its potential for economic growth…. The consequences of further isolating ourselves from the world may turn out to be quite severe.”

#story_page_post_article

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}

Don't Sit on the Sidelines of History. Join Alternet All Access and Go Ad-Free. Support Honest Journalism.