New report says Trump’s shutdown is even worse than we thought — and it could send us into recession

New report says Trump’s shutdown is even worse than we thought — and it could send us into recession

trump vice president pence It was obvious from the start that President Donald Trump’s rash decision to shut down the federal government was callous, destructive, and strategically obtuse. But a new report from the… It was obvious from the start that President Donald Trump’s rash decision to shut down the federal government was callous, destructive, and strategically obtuse. But a new report from the New York Times late Tuesday night revealed that the shutdown will be much more economically harmful than initially believed — and the White House knows it. The White House confirmed, the Times reported, that it had originally underestimated the negative economic impact of the shutdown, which Trump has said could last for months or “even years.” In light of these more negative predictions, the shutdown itself could cause the economy to contract, according to the report. “The White House is predicting that the White House’s decision to shut down the federal government could drive the economy into recession,” noted Washington, D.C., correspondent Binyamin Appelbaum. Ironically, he added: “I guess that’s one way to convince the Fed to stop raising rates.” Trump’s top economic adviser Kevin Hassett has tried to put a positive gloss on the shutdown, but he couldn’t avoid admitting the fundamental dangers to the Times: Mr. Hassett said it was possible that the damage could grow. He also said much of the damage should be repaired once the shutdown ends and workers get back pay. But he acknowledged that the shutdown could permanently […]

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