When it comes to the economy, President Donald Trump has been nothing but a boon. In fact, when it comes to his presidency, the economy is the sharpest arrow in his quiver. It’s why Democrats and their media lapdog have attempted to downplay Trump’s success with it as often as possible.
However, despite articles speaking to the contrary, the numbers don’t lie, and business leaders are more than pleased. According to the Daily Wire, Chase Bank CEO Jamie Dimon had some very high praise for Trump’s economy during an interview on “60 Minutes”:
“The stock market is going through the roof, and yet manufacturing production is down over the past year,” host Leslie Stahl said. “Wage growth is slowing. So when you look at the state of the economy right now, what do you see? Do you see strength? Do you see petering out?”
“The consumer, which is 70% of the U.S. economy, is quite strong. Confidence is very high,” Dimon responded. “Their balance sheets are in great shape. And you see that the strength of the American consumer is driving the American economy and the global economy.”
“And while business slowed down, my current view is that, no, it just was a slowdown, not a petering out,” Dimon added.
“This is the most prosperous economy the world has ever seen.” The CEO of America's biggest bank, Jamie Dimon, says the U.S. consumer is "quite strong" https://t.co/fFUJgepYXG pic.twitter.com/LeLfgp56yN
— 60 Minutes (@60Minutes) November 11, 2019
Good news about an economy under a president is good at any time, but during an election year, it becomes one of the most important factors in his ability to get reelected.
According to economic experts, a strong economy is one of the primary factors in an incumbent staying in the White House, and a handful of these experts have already spoken out, calling the election for Trump before the Democrats have even had a chance to figure out who he’s going to run against.
“The economy is just so damn strong right now and by all historic precedent the incumbent should run away with it,” said Donald Luskin, chief investment officer of the research firm, TrendMacrolytics.
“I just don’t see how the blue wall could resist all that,” he added.
Luskin’s firm accurately predicted Trump’s win back in 2016 when most of the opinion polls were slanted against Trump.
Yale economist Ray Fair couldn’t help but give the same 2020 prediction as Luskin.
“Even if you have a mediocre but not great economy — and that’s more or less consensus for between now and the election — that has a Trump victory and by a not-trivial margin,” said Fair.
Mark Zandi, chief economist at Moody’s Analytics, is no fan of Trump, but even he’s predicting an easy Trump victory, and only sees one problem possibly tripping up Trump.
“If the election were held today, Trump would win according to the models and pretty handily,” Zandi said. “In three or four of them it would be pretty close. He’s got low gas prices, low unemployment and a lot of other political variables at his back. The only exception is his popularity, which matters a lot. If that falls off a cliff it would make a big difference.”
This might not be that big of a problem either. According to Rasmussen, Trump is currently tracking around 50 percent approval, which is actually a pretty solid number to be at. For comparison around this time, Obama was at 47 percent.
Author: Brandon Morse