Donald Trump has failed miserably when it comes to any number of the things he was elected to accomplish.
Trump promised the economy would boom under his leadership. But coronavirus has the nation on the verge of an economic depression, with 3.3 million Americans filing for unemployment last week and the overall unemployment rate possibly reaching 32.1 percent, with 47 million people jobless. That number comes from the Federal Reserve Bank of St. Louis, CNBC notes:
“The projections are even worse than St. Louis Fed President James Bullard’s much-publicized estimate of 30%. They reflect the high nature of at-risk jobs that ultimately could be lost to a government-induced economic freeze aimed at halting the coronavirus spread.
“’These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by the U.S. economy in the last 100 years,’ St. Louis Fed economist Miguel Faria-e-Castro wrote in a research paper posted last week.”
Does anyone think Trump will be reelected if the unemployment rate is above even 8 percent on Election Day? It seems highly unlikely, especially when you consider a new Harvard CAPS-Harris Poll which shows Trump already trailing likely Democratic presidential nominee Joe Biden by a full 10 points, according to The Hill:
“Former Vice President Joe Biden leads President Trump by 10 points nationally in a new poll, bolstered by an advantage with independents.
“The poll also shows pessimism about the economy growing, a factor that could help Biden and hurt Trump in the poll.
“The latest Harvard CAPS-Harris Poll finds Biden getting 55 percent support, versus 45 percent for Trump. Biden has 96 percent support from Democrats, while Trump has 89 percent support from Republicans. Independents break for Biden by a 54 to 46 percent margin.”
But the key figure isn’t the 10-point lead enjoyed by Biden. Instead, it’s that Biden has 96 percent support from Democrats and Trump stands at only 89 percent among GOP voters. Also, Biden leads by a full 8 points among independents, who will be key, especially in battleground states such as Florida, Michigan, Ohio, Pennsylvania, and Wisconsin. Those states were the main reason Trump defeated Hillary Clinton four years ago.
Additionally, respondents are growing very pessimistic about the American economy, with 55 percent saying the economy is on the wrong track. Only 41 percent said that a month ago. 55 percent also said they expect a recession in the very near future.
How ironic that the one thing Trump was counting on to help him win in November may be the weakest link in his armor. That alone suggests that karma is indeed real and about to take one hell of a bite out of this president.