Donald Trump: Not Financial Crisis
on Thursday, May 14, 2020Donald Trump Money Quote saying there is no money problem here because everyone will come together to solve the virus problem. Donald Trump said:
“This is not a financial crisis. This is just a temporary moment of time that we will overcome together as a nation” — Donald Trump
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This quote from Donald Trump seeks to downplay the severity of the economic impact from the COVID-19 pandemic by referring to it as merely “a temporary moment of time” rather than a true “financial crisis.” While aiming to project optimism and unity by saying the nation will “overcome together,” the assessment that it is “not a financial crisis” contradicts the analysis of most economists.
A balanced interpretation would be that Trump is understandably trying to reassure the public but overlooks the magnitude of the crisis, which triggered a recession with widespread business closures and job losses. His characterization did not age well as the pandemic’s economic effects dragged on for years.
An even-handed view would weigh both Trump’s hopeful messaging as well as the realities of the situation that most experts judged to indeed be a serious financial crisis.