Published: Thu, August 22, 2019
Worldwide | By Lisa Hogan

Donald Trump: Many in Establishment Media 'Would Love to See a Recession'

Donald Trump: Many in Establishment Media 'Would Love to See a Recession'

"Whether or not we do it now, it's not being done because of recession", he said. The New York Times reported that, driven by concerns about the economy ahead of the 2020 elections, the White House was also considering reversing some of the president's tariffs.

Trump continued to maintain that the economy is in "great shape". "He raised interest rates too fast, too furious, and we have a normalized rate". Because the payroll tax is a flat tax, it would hit more middle-class people, but not perfectly - almost half of it would go to the top 20%.

"It is not being considered at this time", White House deputy press secretary Hogan Gidley said during an interview with FOX News earlier Tuesday.

But if Congress and successive presidents routinely cut the Social Security payroll tax, this will inevitably raise questions about whether general revenues are sufficient to offset the enormous loss of funds for Social Security and whether the program itself must be cut to make up the difference.

"Somebody had to do it".

In February, during a meeting at the White House, Trump's top trade adviser Robert Lighthizer, directly contradicted the president over an assertion he made about the trade war. So, I'm taking on China.

But trade experts said the prospects for productive negotiations were clouded by Washington's increasingly combative stance against China, including the arms sale to Taiwan and its increasingly tough language on Hong Kong.

"The fact is somebody had to take China on", he said when asked whether the trade war with China is harming the US. A foreign ministry spokesman, Geng Shuang, expressed hope Washington can "meet China halfway" in settling disagreements.

Trump has recently indicated that he is concerned - tweeting about the "CRAZY INVERTED YIELD CURVE!" in reference to the 10-year Treasury bond rate dipping below the two-year Treasury bond rate for the first time in over a decade - and seeking to reassure Americans. What Trump ought to be doing is coming up with a contingency plan in case the signs of a recession get clearer.

Reports reveal that members of the President's administration were discussing.

"A lot of people would like to see that, and that very much affects the workers of our country", he said. Trump replied, "I'm not talking about doing anything at this moment".

There's also a political risk in saying the economy needs a spark only 18 months after the Republican party passed one of the largest tax cuts in US history.

Only two per cent of the survey's 226 respondents predicted a recession this year, but 38 per cent expected a downturn to hit in 2020 and 34 per cent in 2021, according to the polls from the National Association for Business Economists.

Those actions he's talking about are the sort a central bank would traditionally take to deal with or try to stave off a slowdown or full-blown recession.

"We have the strongest economy, by far, in the world", Trump insisted to reporters on Sunday.

"I think the word recession is a word that's inappropriate 'cause it's just a word that certain people - I'm going to be kind, certain people and the media are trying to build up, because they'd love to see a recession", Trump said Tuesday. "That's a big if".

In which he suggested that action on tax cuts wouldn't be imminent.

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