Politics: Democrats see opening on economy, resist cheering recession - PressFrom - US

PoliticsDemocrats see opening on economy, resist cheering recession

07:40  23 august  2019
07:40  23 august  2019 Source:   msn.com

Another day, another reversal in stock fortunes as recession fears grow

Another day, another reversal in stock fortunes as recession fears grow U.S. stock markets plummeted today as recession fears continue to grow. Yesterday's good news about a reprieve on tariffs for U.S. consumer imports was undone by increasing concerns over economic indicators pointing to a potential global recession coming within the next year. Phones, laptops and game consoles get tariff reprieve until December The Dow Jones Industrial Average dropped more than 800 points on Wednesday -- its largest decline of the year -- while the S&P 500 fell by 85 points and the tech-heavy Nasdaq dropped 240 points. The downturn in the markets came a day after the Dow closed up 373 points after the U.S.

Democratic presidential candidate John Delaney chided fellow Democrats Wednesday, some of whom he said seem to be “ cheering on a recession because they Elizabeth Warren and other Democrats , as well as some cable news hosts, have predicted that the U.S. economy is headed for a recession .

Democrats are “rooting for a recession ,” Fox News host Laura Ingraham tweeted out Tuesday, asking if the opposition is “purposefully trying to undermine and MSNBC host Stephanie Ruhle denied she was wishing for a recession , calling such claims “categorically false” and arguing that she was just

Democrats see opening on economy, resist cheering recession
Democrats see opening on economy, resist cheering recession
Democrats see opening on economy, resist cheering recession

PROLE, Iowa (AP) — Campaigning under the stifling August sun, Joe Biden assailed President Donald Trump's trade war with China, accusing him of squandering a strong economy and putting Americans' financial security at risk.

Fact-checking Donald Trump's claims on economists' recession warnings

Fact-checking Donald Trump's claims on economists' recession warnings During a question and answer session with reporters on Sunday, Washington Post White House bureau chief Philip Rucker told President Donald Trump that "a lot of economists say that you should be preparing for a recession." require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); Trump responded that he is "prepared for everything," but that "I don't think we're having a recession.

"It feels like some Democrats are cheering on a recession because they want to stick it to Trump. I don't want a recession because I don't want these workers in When asked if some Democrats were actively looking for a recession , he denied saying it and emphasized that he believed the president's

Presidential candidate and former Democratic lawmaker John Delaney accused other Democrats of “ cheering on a recession ” to hurt President Donald Trump on Wednesday. After a reported asked the 2020 hopeful if he believes a recession is likely in the near future, Delaney replied, “I hope it’s not

But he was quick to add that he was not hoping for the worst.

"I never wish for a recession. Period," the former vice president and current Democratic presidential candidate told reporters in Prole, Iowa.

Biden's comments highlight the delicate balance for Democrats as the U.S. economy flashes recession warning signs. In town halls and speeches across the country this week, candidates leveled blame on Trump, arguing that his aggressive and unpredictable tariff policies were prompting gloomy economic forecasts. Yet they also strained to avoid the appearance of cheering for a downturn that would inflict financial pain on millions of Americans, but potentially help their party's political fortunes in 2020.

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Trump adopts familiar mantra on possible recession: fake news President Trump and his advisers are adopting a familiar mantra when it comes to mounting concerns about the economy: It's all fake news. © Getty Images Trump adopts familiar mantra on possible recession: fake news Trump has dismissed concerns over a possible recession and accused the press of manufacturing a crisis and "doing everything they can to crash the economy" so he doesn't win in 2020. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); "I don't think we're having a recession.

Democratic presidential candidate John Delaney said some members of his party seem to be “ cheering on a recession ” in hopes of weakening President Trump, The Hill reports. Said Delaney: “It feels like some Democrats are cheering on a recession because they want to stick it to Trump.

Delaney accused some Democrats of " cheering " for a recession just to "stick it to" President Donald Trump. The White House has continually downplayed growing concerns about a potential recession . Larry Kudlow, the Trump administration's chief economic adviser, told NBC that he doesn't see a

For more than two years, the combination of solid growth, low unemployment and a rising stock market has been a bulwark for Trump, helping him maintain the support of many independents and moderate Republicans who are turned off by his incendiary statements and pugnacious personality. According to a new Associated Press-NORC poll, a higher percentage of Americans approve of Trump's handling of the economy than his overall job performance.

"If there is a recession and the economy is doing worse, not better, than when Donald Trump started, it is hard to see how the majority of the American people, even those who have looked the other way on so many of his indiscretions, will decide to give him a shot at another four years," said Jennifer Psaki, a former White House and campaign adviser to President Barack Obama.

Trump's advisers privately have the same concern, particularly given that the president's path to victory is already narrow. Well aware that a sitting president almost always gets the credit or the blame for the state of the American economy, Trump and his team have tried to point the finger elsewhere, namely in the direction of Federal Reserve Chairman Jerome Powell, accusing him of slowing growth by not lowering interest rates.

Trump says White House looking at payroll tax cut

Trump says White House looking at payroll tax cut President Trump on Tuesday confirmed the White House is discussing a temporary payroll tax cut as a strategy to boost the economy, even as he maintains the country's economic outlook remains strong."I've been thinking about payroll taxes for a long time. Many people would like to see that," Trump told reporters in the Oval Office during a meeting with the Romanian president.He added that the administration is also looking at doing something on the capital gains tax, but cautioned that nothing has been decided.

John Delaney said fellow Democratic presidential candidates were guilty of " cheering on a recession because they want to stick it to Trump." A recession is defined as two consecutive quarters of negative economic growth. There has not yet been one single quarter of negative growth under Trump.

“It feels like some Democrats are cheering on a recession because they want to stick it to Trump,” Delaney, a former Maryland congressman, told reporters The problem they have is that the economy is way too strong and we will soon be winning big on Trade, and everyone knows that, including China!

"Our Federal Reserve does not allow us to do what we must do. They put us at a disadvantage against our competition," Trump said Thursday on Twitter.

Shifting blame to others has been a frequent tactic for Trump, even to those within his own administration. (Trump nominated Powell as Fed chair last year.)

Some Democrats said he shouldn't get away with it this time.

"Do not allow him to escape the accountability that he deserves for what he is doing to this economy," said Beto O'Rourke, a presidential contender and former Texas congressman. "He'll try to blame every other person. The blame rests with Donald Trump. Now it's incumbent on all of us to call this out."

For months, the strong American economy has posed complications for Democrats trying to unseat Trump. Although Trump inherited an economy on the rise from his predecessor, Barack Obama, gains have indisputably continued under his watch. Unemployment is near a 50-year low at 3.7%. Consumer and business confidence has been strong, fueling record highs on Wall Street, even though the most recent signs show that consumer confidence could be ebbing.

Trump reverses course on new tax cuts

Trump reverses course on new tax cuts "I'm not looking at a tax cut now," Trump said after days of confusion over whether and how the White House would respond to recession fears.

President Trump is downplaying the odds of a recession , but he's also calling on the Federal Reserve to cut interest rates again. The Trump administration is acting as a cheering section for the U.S. economy . And at least on Monday, investors were cheering along.

Delaney was later asked which Democrats wanted the economy to tank. “I’m not going to name We see them upturns and downturn. A recession doesn’t mean it’s a crisis,” Ruhle said on Monday. However, he’s openly saying that a recession is a bad thing and that he’s hoping the economy stays

Rather than trying to undercut those markers or predict doom ahead, most Democratic candidates have focused on economic inequalities, arguing that the wealthy were reaping the benefits far more than middle- and working-class Americans. In particular, Candidates have hammered Trump's 2018 tax law, which gave large-scale tax cuts to the rich and corporations and more moderate benefits to the middle class. And they've slammed the tariffs for burdening farmers across the heartland.

One exception has been Massachusetts Sen. Elizabeth Warren, who has openly warned about the prospect of another economic decline. In July, she wrote an essay predicting that a rise in consumer and corporate debt was imperiling the longest expansion in U.S. history.

"Whether it's this year or next year, the odds of another economic downturn are high — and growing," Warren wrote.

Biden in particular appeared to shift close to Warren's warnings this week, as analysts said that a slowdown, if not a full-blown recession, could hit before next year's election. During a two-day campaign swing through Iowa, Biden reminded voters that the Obama administration handed Trump a strong economy that could quickly come undone.

"Donald Trump inherited a growing economy from the Obama-Biden administration, just like he inherited everything in his life. And now he's squandered it, just like he's squandered everything he inherited in his life," said Biden, making sure to remind voters of his own role in revitalizing the economy during the last administration.

Other Democrats were more cautious, particularly about leaving the impression that the party sees a political benefit from an economic decline.

"I just think it's very important that we be clear as a party that we don't want a recession," said John Delaney, the former Maryland congressman who is mired at the bottom of the pack in the crowded Democratic primary field. "I don't want anything to happen, even if it's good politics, if it hurts workers."


Follow Julie Pace at http://twitter.com/jpaceDC

For first time, more voters see economy fading than improving under Trump.
More voters for the first time say the U.S. economy is getting worse than better since President Trump's election amid rising recession fears, according to a new poll. © Getty Images President Trump has responded to recession fears by blaming Democrats and the Fed. In the Quinnipiac University poll released Wednesday, 37 percent of respondents said the U.S. economy was deteriorating, 31 percent said it was improving and 30 percent said the forecast was holding steady. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

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