President Donald Trump and Director of the National Economic Council National Larry Kudlow leave the G7 summit in La Malbaie, Quebec on June 9, 2018. (Photo: Lars Hagberg/AFP/Getty Images)
Sep 04, 2019
A Harvard/Harris poll released Tuesday showed that most American voters will blame President Donald Trump if the U.S. economy goes into a recession, a finding that comes amid ominous warning signs of a looming financial downturn.
The survey (pdf) found that 62 percent of voters are concerned that the U.S. economy could enter a recession in the next six months. Fifty-seven percent of voters said they will blame the president over the Federal Reserve or others if a recession hits.
The poll comes weeks after the Treasury bond yield curve inverted for the first time since the Wall Street crash of 2007 and 2008. Observers noted last month that an inverted yield curve has preceded every major economic downturn over the past five decades.
Following that alarming signal, the Twitter hashtag #TrumpRecession went viral as economists and others said the president's trade war with China, tax cuts for the rich, and other White House policies are to blame for growing fears of an economic crash.
"The American people are waking up to the damage he has done to our economy by waging senseless trade wars and handing out trillions in tax cuts to the wealthy and corporations," tweeted former Labor Secretary Robert Reich.
In public, the Trump administration has repeatedly denied that an economic downturn is on the horizon. But, as Common Dreams reported last month, the White House has privately been considering a number of stimulus options, including more tax cuts for the rich.
Journalist Matt O'Brien mocked the White House's reported ideas to fend off a recession as handouts to the wealthy that would do little to boost the economy.
"Hilariously," tweeted O'Brien, "two of Trump's ideas for stimulating the economy are 1) cutting the corporate tax rate a little more (after cutting it a lot didn't do much), and 2) indexing capital gains to inflation. It's tax cuts for the rich all the way down."
Why Your Ongoing Support Is Essential
Donald Trump’s attacks on democracy, justice, and a free press are escalating — putting everything we stand for at risk. We believe a better world is possible, but we can’t get there without your support. Common Dreams stands apart. We answer only to you — our readers, activists, and changemakers — not to billionaires or corporations. Our independence allows us to cover the vital stories that others won’t, spotlighting movements for peace, equality, and human rights. Right now, our work faces unprecedented challenges. Misinformation is spreading, journalists are under attack, and financial pressures are mounting. As a reader-supported, nonprofit newsroom, your support is crucial to keep this journalism alive. Whatever you can give — $10, $25, or $100 — helps us stay strong and responsive when the world needs us most. Together, we’ll continue to build the independent, courageous journalism our movement relies on. Thank you for being part of this community. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
A Harvard/Harris poll released Tuesday showed that most American voters will blame President Donald Trump if the U.S. economy goes into a recession, a finding that comes amid ominous warning signs of a looming financial downturn.
The survey (pdf) found that 62 percent of voters are concerned that the U.S. economy could enter a recession in the next six months. Fifty-seven percent of voters said they will blame the president over the Federal Reserve or others if a recession hits.
The poll comes weeks after the Treasury bond yield curve inverted for the first time since the Wall Street crash of 2007 and 2008. Observers noted last month that an inverted yield curve has preceded every major economic downturn over the past five decades.
Following that alarming signal, the Twitter hashtag #TrumpRecession went viral as economists and others said the president's trade war with China, tax cuts for the rich, and other White House policies are to blame for growing fears of an economic crash.
"The American people are waking up to the damage he has done to our economy by waging senseless trade wars and handing out trillions in tax cuts to the wealthy and corporations," tweeted former Labor Secretary Robert Reich.
In public, the Trump administration has repeatedly denied that an economic downturn is on the horizon. But, as Common Dreams reported last month, the White House has privately been considering a number of stimulus options, including more tax cuts for the rich.
Journalist Matt O'Brien mocked the White House's reported ideas to fend off a recession as handouts to the wealthy that would do little to boost the economy.
"Hilariously," tweeted O'Brien, "two of Trump's ideas for stimulating the economy are 1) cutting the corporate tax rate a little more (after cutting it a lot didn't do much), and 2) indexing capital gains to inflation. It's tax cuts for the rich all the way down."
A Harvard/Harris poll released Tuesday showed that most American voters will blame President Donald Trump if the U.S. economy goes into a recession, a finding that comes amid ominous warning signs of a looming financial downturn.
The survey (pdf) found that 62 percent of voters are concerned that the U.S. economy could enter a recession in the next six months. Fifty-seven percent of voters said they will blame the president over the Federal Reserve or others if a recession hits.
The poll comes weeks after the Treasury bond yield curve inverted for the first time since the Wall Street crash of 2007 and 2008. Observers noted last month that an inverted yield curve has preceded every major economic downturn over the past five decades.
Following that alarming signal, the Twitter hashtag #TrumpRecession went viral as economists and others said the president's trade war with China, tax cuts for the rich, and other White House policies are to blame for growing fears of an economic crash.
"The American people are waking up to the damage he has done to our economy by waging senseless trade wars and handing out trillions in tax cuts to the wealthy and corporations," tweeted former Labor Secretary Robert Reich.
In public, the Trump administration has repeatedly denied that an economic downturn is on the horizon. But, as Common Dreams reported last month, the White House has privately been considering a number of stimulus options, including more tax cuts for the rich.
Journalist Matt O'Brien mocked the White House's reported ideas to fend off a recession as handouts to the wealthy that would do little to boost the economy.
"Hilariously," tweeted O'Brien, "two of Trump's ideas for stimulating the economy are 1) cutting the corporate tax rate a little more (after cutting it a lot didn't do much), and 2) indexing capital gains to inflation. It's tax cuts for the rich all the way down."
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.