Trump eyes tax cuts, not fearing recession
WASHINGTON — President Donald Trump acknowledged Tuesday his aggressive China trade policies may mean economic pain for Americans but insisted they’re needed for more important long-term benefits. He insisted he’s not fearing a recession but is nonetheless considering new tax cuts to promote growth.
Asked if his trade war with China could tip the country into recession, Trump brushed off the idea as “irrelevant” and said it was imperative to “take China on.”
“It’s about time, whether it’s good for our country or bad for our country short-term,” he said.
Paraphrasing a reporter’s question, Trump said, “Your statement about, ‘Oh, will we fall into a recession for two months?’ OK? The fact is, somebody had to take China on.”
Trump was clear he didn’t think the nation is at risk of a recession, and that a boom was possible if the Federal Reserve would slash its benchmark interest rate.
“We’re very far from a recession,” Trump said. “In fact, if the Fed would do its job, I think we’d have a tremendous spurt of growth, a tremendous spurt.”
Yet he also said he is considering a temporary payroll tax cut and indexing to inflation the federal taxes on profits made on investments — moves designed to stimulate faster growth. He downplayed any idea that these thoughts indicate a weakening economy, saying, “I’m looking at that all the time anyway.”
Trump: Jews voting for Democrats are either uninformed or disloyal
Trump on Tuesday said any Jewish people who vote Democratic show “either a total lack of knowledge or great disloyalty.” Trump commented Tuesday amid his feud with Democratic congresswomen Ilhan Omar of Minnesota and Rashida Tlaib of Michigan. Trump called Omar a “disaster” for Jews and says he didn’t “buy” the tears Tlaib shed Monday as she discussed being barred from traveling in Israel.
Backpedaling on gun legislation?
Trump insisted Tuesday the U.S. already has “very, very strong background checks” for gun purchases and is noting many of his supporters “are strong believers in the Second Amendment,” in another sign he is backing away from supporting expanded checks.
Trump said that while the current system has “sort of missing areas and areas that don’t complete the whole circle,” the system is overall “very, very strong.” He says he worries about the potential for a “slippery slope” where “all of a sudden everything gets taken away.”
Trip to Denmark off, over Greenland
Trump canceled a trip to Denmark after its prime minister dismissed Trump’s musing about buying Greenland, which her government owns, as “an absurd discussion.” Trump tweeted that “based on Prime Minister Mette Frederiksen’s comments, that she would have no interest in discussing the purchase of Greenland, I will be postponing our meeting scheduled in two weeks for another time.”