Former President Trump stated in an interview that aired Monday that he believes the US economy will implode within the next year.
In an interview with Lou Dobbs, Trump, the current front-runner in the Republican presidential primary race, stated that if re-elected, he would not want to serve a term similar to that of President Hoover, who took office when the economy was stable but oversaw the start of the Great Depression.
Trump screamed against the economy but admitted that it had some positive parts and claimed responsibility for those triumphs.
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“We have an economy that’s so fragile, and the only reason it’s running now is it’s running off the fumes of what we did,” Trump said in a statement. “It’s just running off the fumes.”
“And when there’s a crash — I hope it’s in the next 12 months because I don’t want to be Herbert Hoover,” Trump added. Herbert Hoover is the one president I don’t want to be.”
A crash, on the other hand, is increasingly implausible. The US economy, on the other hand, defied economists’ projections and ended the year 2023 with high ratings across the board: inflation was down, job creation was strong, and the unemployment rate remained low.
“What we’re seeing now, I think we can describe as a soft landing, and my hope is that it will continue,” Treasury Secretary Janet Yellen said on CNN on Friday, just after the release of a surprise positive December jobs report.
The United States added 216,000 jobs in the last month of 2023, keeping the unemployment rate at 3.7 percent, considerably above economists’ projections. According to the Labor Department, annual inflation fell from 9.1 percent in June 2022, a four-decade high, to 3.1 percent in November.
“The American people did it,” added Yellen. “Every day, the American people go to work, participate in the labor market, and start new businesses.” However, President Biden has attempted to create incentives that will provide Americans with the tools they need to assist the economy develop.”
The Biden team responded to Trump’s remarks by quoting Biden from a recent campaign event.
“Three days ago, President Biden said, ‘Donald Trump’s campaign is about him.'” This is not America. ‘Not you,'” stated the statement on X, formerly Twitter.
Julie Chavez Rodriguez, the Biden-Harris campaign manager, responded on Tuesday, slamming Trump for his remarks.
“Donald Trump should just say he doesn’t give a damn about people, because that’s exactly what he’s telling the American people when he says he hopes the economy crashes,” the statement goes on to say. “In his relentless pursuit of power and retribution, Donald Trump is rooting for a reality where millions of Americans lose their jobs and live with the crushing anxiety of figuring out how to afford basic needs.”
Biden has already compared Trump to Hoover.
“In the four years Donald Trump was president — and he’s the only president other than Herbert Hoover who actually lost jobs in a four-year period,” Biden remarked last month. And it’s for this reason that I frequently refer to him as Donald ‘Herbert Hoover’ Trump.”