In the early days of the coronavirus pandemic, there was some speculation that opponents of President Donald Trump hoped the resultant economic devastation could be exploited and used to defeat him in the upcoming 2020 election.
Now, it seems there was a measure of truth to those rumors. A new report from Politico reveals that many top Democrats are indeed alarmed about the prospect of a rapid economic recovery in the coming months that could help Trump cruise to a win this November.
Economist predicts strong recovery
Those worries for Democrats were likely sparked by the recent prognostications of a Harvard professor named Jason Furman, who previously served as a top economic adviser in former President Barack Obama’s administration.
After considering all of the data and various factors at play, Furman envisioned a scenario in which the nation’s economic situation improves markedly in the months leading up to the election, a scenario that would favor Trump more than Democrats, given that the economy has always been Trump’s signature issue and strength.
According to Politico, the panic on the left all started during a Zoom meeting in April when Furman told a bipartisan collection of top officials and economists that “we are about to see the best economic data we’ve seen in the history of this country.” In recalling that particular incident, Furman told Politico, “Everyone looked puzzled and thought I had misspoken.”
Democrats sound alarm
Furman had not misspoken, though, and developments he has seen since then — businesses reopening, consumption picking back up, the markets rallying to recover most of the initial losses from March — all confirm his earlier prediction that there will be something of a so-called V-shaped recovery that will place the nation’s economy nearly back to where it was, and do so right around the time voters head to the polls in November.
But that prediction reportedly has a number of top Democrats in a “panic” that the one truly effective weapon they had against President Trump — a dismal and collapsed economy on the verge of another Great Depression — could very well be snatched away from them when they need it the most.
“This is my big worry,” an unnamed former top Obama official confessed to Politico. Asked about the level of concern among other top Democrats, the official replied, “It’s high — high, high, high, high.
“Even today when we are at over 20 million unemployed Trump gets high marks on the economy, so I can’t imagine what it looks like when things go in the other direction,” the official later added. “I don’t think this is a challenge for the Biden campaign. This is the challenge for the Biden campaign. If they can’t figure this out they should all just go home.”
Trump trusted on economy
Indeed, polls — despite typically being stacked against President Trump — continue to show that the president is trusted far more than presumptive Democratic nominee Joe Biden when it comes to the economy, as Fox News reports.
“Trump beats Biden on the economy even right now!” an unnamed Democratic operative lamented to Politico. “This is going to be extremely difficult no matter what. It’s existential that we figure it out. In any of these economic scenarios Democrats are going to have to win the argument that our public health and economy are much worse off because of Donald Trump’s failure of leadership.”
So there you have it. Some on the left were actually hoping for prolonged financial devastation so that Trump’s top achievement since taking office — a roaring economy with minimal unemployment — would be taken off the table. This is a shameful revelation that should give every American voter pause.