Trump Says a Recession Isn't Possible Because Everyone Is Rich

President Trump isn’t worried about the economy. No really, he isn’t. Everything is going to be fine. Seriously. All of that talk of a recession last week and over the weekend, spurred by a few ominous market indicators, a sputtering global economy, and Trump’s continuing trade war with China, was overblown hype peddled by forces that want nothing more than to make the president look bad. After all, how bad could things really be when we’re all so rich?

“I don’t think we’re having a recession,” Trump told reporters on Sunday in an attempt to quell fears over a potential market crash. “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”

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“I don’t see a recession,” he continued. “I mean, the world is in a recession right now. Although, that’s too big a statement.”

This doesn’t exactly inspire confidence, nor does citing his 2017 tax cut, which very much did not load consumers up with money. Despite what Trump promised prior to the tax cut’s passage, the bill did not result in soaring wages for workers, the deficit has skyrocketed, and the primary beneficiaries have been corporations and the wealthiest Americans. Meanwhile, growth is slowing, and Americans who aren’t about to board a luxury helicopter are struggling to make ends meet. A study published by the Federal Reserve earlier this year found that 39 percent of Americans don’t have enough cash on hand to cover an unexpected $400 expense.

https://www.rollingstone.com/politics/politics-news/trump-recession-denial-panic-conspiracy-873239/