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Explainer: Trump has little power to restart U.S. economy

MarkMark
in Other Investing
From Jan Wolfe at Reuters

"WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday said he wants the U.S. economy to reopen by Easter Sunday, April 12, despite the rapid spread of the novel coronavirus in some U.S. states and a rising death toll from the disease.

Legal experts say a U.S. president has quite limited power to order citizens back to their places of employment, or cities to reopen government buildings, transportation, or local businesses. Here is why."

Story from Reuters

Comments

  • catch22catch22
    Thanks, Mark.

    You're being busier than honey bees in the back yard during full flower bloom in summertime.
  • Old_JoeOld_Joe
    Because of the vacuum at the top almost all of the action has been at the state, county, or city level. I'm not sure how much influence Trump actually has with respect to these political entities. If he threatened to penalize them in some way it might just start real trouble for him.
  • Tarwheel
    When the economy rebounds, it will be in spite of Trump, not because of him. However, he will certainly try to take credit for it.

    Remember Harry Truman’s motto “The buck stops here”? Trump is the polar opposite.
  • Old_JoeOld_Joe
    "The buck starts here"? No, surely that can't be right!
  • MarkMark
    edited March 2020
    What 45 is saying is really "I need my money so let's get out there so the COVID-19 virus can do it's work." Although he would never say COVID-19.
  • Old_JoeOld_Joe
    So because he's losing money he's agitating to let the "Chinese Virus" decimate the US?

    And his poll numbers have gone UP !!! some 5% this week??? If this isn't Alice in wonderland it's certainly as close as one can get.
  • Tarwheel
    Trump is milking his daily press briefings to juice his poll numbers, much like many governors have done in the past during hurricanes and other natural disasters, or George Bush after 9/11. NC’s former Republican governor Pat McCrory employed this tactic after a bad hurricane hit NC, but he still failed to get re-elected because the voters finally began to realize how incompetent he was.
  • Old_JoeOld_Joe
    Let's hope.
  • PopTartPopTart
    Tomorrow's unemployment numbers (and the ensuing weeks' numbers) will make Trump squeal ...
  • Old_JoeOld_Joe
    In Trump's view god created the US as exceptional, therefore we need not take the same precautions as the rest of the world. In his supporter's view, god gave us Trump, so the whole thing fits together nicely.
  • PopTartPopTart
    @Old_Joe +1
  • catch22catch22
    Hi @PopTart
    Sent you a private message.
    Catch
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