Trump touts economy but payroll tax discussion reveals recession fears

3 Out Of 4 Economists Predict A US Recession By 2021 Survey Finds

3 Out Of 4 Economists Predict A US Recession By 2021 Survey Finds

"We're, right now, the No. 1 country anywhere in the world by far as an economy", Trump told press during a White House meeting with Romanian President Klaus Iohannis.

Target number one is the Federal Reserve, which Trump, in one of his many breaks with convention, has been browbeating for months over its reluctance to cut interest rates. Yet he also suggested those actions aren't necessary. "Whether or not we do it now or not is-it's not being done because of recession", he said.

Trump discusses the US economy ahead of meeting with Romanian president at the White House.

Lighthizer then directly contradicted Trump, saying: "An MOU is a contract". The National Association of Business Economics said Monday that 98 percent of member economists responding to its latest Economic Policy Survey believe a recession will come after 2019.

Some economists have pointed to Trump's trade war with China as among the factors responsible for the economic instability, placing pressure on him to reach a trade deal with Beijing.

One of the signs pointing to a forthcoming recession is the recent yield curve inversion - yields on longer-term U.S. Treasury bonds dipping below the yields on shorter-term bonds.

"My life would be a lot easier if I hadn't taken China on", Trump said.

Economic trends tend to predict election outcomes, and recessions can be radioactive for the party in power. For Trump, striking that balance may be even more hard than for most.

"If the Fed would do its job, we'd have a tremendous burst of growth", Trump said.

The payroll tax cut, Trump said, "is something that we think about" in addition to other possible cuts to taxes on stock sales. He downplayed any idea that these thoughts indicate a weakening economy and said, "I'm looking at that all the time anyway". "The fact is somebody had to take China on". And reports that the White House is considering temporary stimulus measures could fuel such economic pessimism.

The Brief: British government speeds up preparations for a no-deal Brexit
The government said its auto-enrolment scheme would mean 88,000 more firms would be registered. Calais has invested £20 million in no-deal contingency planning.

The president's renewed interest in another round of tax cuts comes after his previous pledge, in the weeks just before the 2018 midterm elections, to pursue a 10 percent tax cut for the middle class.

There has been no clarity on how such a move would be carried out since China does not pay tariffs directly to the U.S. Treasury.

The tax cut speculation comes just a week after the USA bond yield curve inverted for the first time in more than a decade - a development that's often considered by experts to be a harbinger of economic strife.

Third, it's not accurate to call a payroll tax cut a "middle-class" tax cut.

But if Congress and successive presidents routinely cut the Social Security payroll tax, this will inevitably raise questions about whether general revenues are sufficient to offset the enormous loss of funds for Social Security and whether the program itself must be cut to make up the difference. The Constitution mandates that tax legislation originate in the House, where Speaker Nancy Pelosi will refuse to consider bills that could buoy the re-election chances of the president and his party.

A technical recession - the most widely discussed form of recession - is defined as being two consecutive quarters of negative economic growth.

Trump tells WH pool he could index capital gains to inflation - effectively a huge tax cut, primarily befalling the wealthy - through executive action, without going through Congress.

The Trump administration has been mulling indexing capital gains to inflation through executive action since previous year, despite warnings the move may be illegal.

Such an action would also do little to stave off a potential slowdown or curry favour with voters.

Recommended News

  • India's second lunar mission enters moon's orbit

    India's second lunar mission enters moon's orbit

    This made it easy for it to slip into the gravitational influence of the satellite planet. "It was tense 30 minute operation". During this time, mission control will adjust the Chandrayaan-2 spacecraft's orbit and position it over the poles.

    Space Command to relaunch this month, officials say

    Alabama could know as soon as this month if the state will be tapped as the new home for the U.S. The command will oversee operations related to space across the entire United States military.
    DWTS' Tom Bergeron Seemingly Calls Out ABC Over Sean Spicer Casting

    DWTS' Tom Bergeron Seemingly Calls Out ABC Over Sean Spicer Casting

    The show's lineup also includes Lauren Alaina , Ally Brooke , and Mary Wilson and athletes Lamar Odom and Ray Lewis . I have to beat Dean Cain. "I left that lunch convinced we were in agreement".
  • Ellen DeGeneres Defends Meghan Markle, Prince Harry from Private Jet Criticism

    Ellen DeGeneres Defends Meghan Markle, Prince Harry from Private Jet Criticism

    Known to be a conservationist, Harry said in a July interview with Vogue that the couple would likely only have two children. Hundreds of people were waiting outside Windsor Castle to hopefully catch a glimpse of Harry and Meghan on their way to St.
    Larry Bird wants mural changed

    Larry Bird wants mural changed

    Muck said the mural is based on a photo someone sent her from Bird's first Sports Illustrated cover photoshoot in 1977. I can't just do an exact replica of a photograph.
    Severe storms possible this evening

    Severe storms possible this evening

    Be sure to be severe weather aware and remember that not all of us will be dealing with this type of weather. The main threats from these storm cells will be torrential rain, strong wind gusts, and hail.
  • Instagram privacy hoax spread by celebrities

    Instagram privacy hoax spread by celebrities

    The first appears to reference to the Uniform Commercial Code, a broad set of commercial laws. Meanwhile, Comedian Trevor Noah made fun of those who had fallen for the hoax.
    UK Will Suspend the Freedom of Movement Immediately after Brexit

    UK Will Suspend the Freedom of Movement Immediately after Brexit

    Those plans have been dropped by Prime Minister Boris Johnson , in favour of a new approach to be set out at a later stage. A spokeswoman said: " Freedom of movement as it now stands will end on October 31 when the United Kingdom leaves the EU".
    Trump slams Fed Chair Powell: 'He’s like a golfer who can’t putt'

    Trump slams Fed Chair Powell: 'He’s like a golfer who can’t putt'

    The minutes described the quarter-point cut as part of an "ongoing reassessment" of the policy path that began in late 2018. Trump said he's not actively considering tax cuts and would prefer for the Fed to cut interest rates to boost the economy.
  • No camping at Phish shows near Denver because of plague concerns

    No camping at Phish shows near Denver because of plague concerns

    All of them would readily tell you that it's too soon to even consider a similar situation. "At least it's no Curveball!" That festival, aptly named Curveball, resulted in tens of thousands of fans left to explore the wonders of upstate NY .
    Virtika's David Lesh Survives Half Moon Bay Plane Crash

    Virtika's David Lesh Survives Half Moon Bay Plane Crash

    Lesh and his passenger climbed from the downed plane and grabbed flotation devices and a cell phone as the plane began to sink. Leipelt had notified authorities immediately after Lesh's plane hit the water, The San Francisco Chronicle reported .
    Andy Muschietti Wants To Combine Both IT Films Into One Massive Supercut

    Andy Muschietti Wants To Combine Both IT Films Into One Massive Supercut

    It's another half was about the same kids who return as adults to their town, 27 years later to come face-to-face with Pennywise . While the Chapter Two runtime already clocks in at a bulky 165 minutes, the director's cut version should surpass even that.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.