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.”