Donald Trump has long pointed to his business acumen as his biggest strength as president. He repeatedly takes credit for positive gains in the stock market or strong jobs reports.
What will happen, however, when the economy takes a sharp dip and the country goes into a recession? According to a report from Politico, Trump is compiling a list of the people who will be to blame.
Signs of a tenuous economy reared their heads this week as the stock market experienced wild swings. The swings were widely blamed on Trump’s mixed messages on a Chinese trade war.
Trump’s aides are worried that there could be a recession close to the 2020 elections. A Republican source told Politico, “They know it could be a very dangerous situation if the market volatility is hurting workers in key battleground states through their pensions, investments, you name it. he concern is probably at a DEFCON 3 at this point, but it will definitely spike in 2019 if there’s no real solution [to the trade dispute with China] during this 90-day period.”
If the economy does fall into a recession, Trump is unlikely to take any of the blame. He will certainly claim that Democrats bare some of the blame, especially with Nancy Pelosi now leading congress. He will also continue his attacks on his Federal Reserve Chairman, Jerome Powell.
The easiest people to blame will be those who are soon to leave the White House. The source continues, “He’s going to blame Wilbur Ross for some of these problems once Ross leaves. And if any of his advisers walk, he’ll blame them too.”
While a resolution with China could help to repair the issue, there are other concerns as well. Many economists feel that Trump’s tax cuts could also cause a recession. This recession would occur closer to 2028, however, long after Trump leaves office.