Donald Trump always thought he could count on Fox News to cover his Presidency fairly.
But that all began to change.
And Fox News just dropped this bombshell that could end Donald Trump’s Presidency.
The spread of Chinese coronavirus has thrown the American way of life into complete uncertainty.
Governments are shutting down all leisure activities such as gyms, bars, restaurants and movie theaters.
Airlines are grounding planes.
This is all being done to put in place “social distancing” measures that keep people apart to try and spread out the infections over time so a flood of sick people don’t overwhelm the healthcare system.
But this comes at a terrible economic cost.
The stock market has plunged over 9,000 points in a month.
That downward spiral wiped out 96 percent of the gains made during Donald Trump’s Presidency.
Consumer spending fueled the historic economic boom that Donald Trump oversaw, but if Americans are locked in their houses, they aren’t out spending money.
That reality is causing the stock market wipeout.
And it’s all leading one Fox News expert – Stuart Varney – to say America is heading into a recession.
Appearing on “Fox and Friends,” Varney ticked off all the data.
“We are, I think, headed into a recession. I don’t think there’s any way around it. Because if you look at the experience of China, as you related, in the first couple of months of this year, as they were in the middle of this crisis, industrial production went down 13%, down 13%. Retail sales, down 20%,” Varney began.
He added, “But if the same thing happened here, you would have a major recession, bordering on depression with those kind of numbers.”
Even Trump conceded the economy could be heading for a Chinese coronavirus-induced recession.
But at a White House press conference, the President stated that his number one goal was the American public’s health and that solving the Chinese coronavirus spread would take care of any economic downturn.
“Well, it may be,” the President told a room full of fake news reporters. “We’re not thinking in terms of recession. We’re thinking in terms of the virus.”
Historically, Presidents do not win re-election in a recession.
Jimmy Carter and George H.W. Bush – the last two incumbent Presidents to lose re-election – both ran into strong economic headwinds as the economy fell into recession during critical periods before they faced the voters.
But in both cases, those Presidents made policy choices that helped cause the downturn.
The Chinese coronavirus is not Donald Trump’s fault.
And the President is showing leadership by giving direction for Americans to absorb some short-term pain in order to achieve the longer-term goal of halting the spread of the Chinese coronavirus.
If the President and his administration succeed at that task, the economy will quickly shoot into recovery mode and the voters are likely to forget any temporary downturn and instead credit the President for mitigating a potential crisis.
Great American Daily will keep you up to date on any new developments in the 2020 election.
