Former Rep. Mark Sanford (R-SC) has a sobering message for members of his party and the electorate: President Donald Trump has put the nation the road to a very dark financial future, and if he isn’t voted out of office, things are going to get much worse.
In an op-ed he wrote for the New York Times, Sanford notes that Republicans have abandoned their longtime mantra of fiscal responsibility after repeatedly attacking former President Barack Obama for his $700 billion stimulus package that helped pull the United States out of a deep recession in 2009:
“President Trump’s abandonment of fiscal responsibility will prove disastrous — whether we think about it or not. His State of the Union address underscored his own thinking; it was long on pander and did not address our country’s bleak financial state. Yet amazingly, conservatives whom I have long respected somehow look the other way.”
Additionally, Sanford warns that with Trump currently running a $1 trillion yearly deficit with the economy doing well means that there won’t be any sane way to pull the country out of recession when the next one hits:
“We have never run deficits this big in peacetime. What happens to them when the economy cools?”
Indeed, there are sings that the economy may be cooling, and some are suggesting the next recession may strike prior to the November election.
Just last year, Fortune ran an article which predicts just such a scenario, citing the The National Association of Business Economics:
“According to the organization’s latest survey of 53 professional economic forecasters, the consensus is that the economy will continue to grow at a 2.6% pace in 2019, down from last year’s 2.8% rate, and will slow to 2.1% in 2020. However, as the outlook for this year still seems good, a majority think a recession is possible before the next presidential inauguration.”
If that comes to pass, Trump can forget about a second term.
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