Top White House advisers notified President Trump earlier this month that some internal forecasts showed that the economy could slow markedly over the next year, stopping short of a recession but complicating his path to reelection in 2020.
The private forecast, one of several delivered to Trump and described by three people familiar with the briefing, contrasts sharply with the triumphant rhetoric the president and his surrogates have repeatedly used to describe the economy.
Even as his aides warn of a business climate at risk of faltering, the president has been portraying the economy to the public as “phenomenal” and “incredible.” He has told aides that he thinks he can convince Americans that the economy is vibrant and unrattled through a public messaging campaign. But the internal and external warnings that the economy could slip have contributed to a muddled and often contradictory message.
Administration officials have scrambled this week to assemble a menu of actions Trump could take to avert an economic downturn. Few aides have a firm sense of what steps he would seriously consider, in part because he keeps changing his mind.
Dems see opening on economy, risk 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.
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.
BIDEN: Raise capital gains tax back to 39.6%…