During remarks on the Senate floor Wednesday, Senate Minority Leader Chuck Schumer (D-NY) spoke about the stock market's decline amid President Trump's tariffs.
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NewsTranscript
00:00Now, on the economy, Donald Trump's erratic decisions, yes, no, maybe, this country, that
00:08country, is creating havoc in the economy, and we're starting to see dark clouds hanging
00:16over our economy because of Donald Trump and his whole team's erratic performance when
00:22it comes to the economy.
00:24Listen to this.
00:25For the first time, CNN's polling shows that a clear majority, 56% of the people, disapprove
00:33of Donald Trump's handling of the economy.
00:37They say he won, some pundits say he won the election because of his performance on the
00:41economy.
00:42Well, if now 56% of people disapprove, he's not in very good electoral shape, now or future.
00:52This week, forecasters say that thanks to Donald Trump's chaos and tariffs, the odds
00:58of a dreaded recession have started to crawl up.
01:02One J.P. Morgan report puts it alarmingly at 40%, 40% chance of recession already.
01:09Trump's in office two, three months, there was no chance, little chance of a recession
01:14the day he took office, and now it's up to 40%, according to J.P. Morgan.
01:20Household debt is also growing.
01:24The average household credit card debt surpassed $10,000 for the first time since 2009.
01:31People are starting to fall behind on their car payments at the highest rate in decades.
01:36Donald Trump promised an economic boom during the campaign, but two months into his presidency,
01:44Trump is already backtracking and telling Americans they should be okay with pain and
01:49disturbance with the economy.
01:53Donald Trump tells Americans, you're okay, you should be okay with pain and disturbance
01:58with the economy.
01:59That's pretty rich, coming from a billionaire who said he'd bring costs down on day one
02:05and who doesn't have to suffer when prices go up, wages stay flat, or being fired, not
02:14having any income.
02:17Donald Trump knows his policies could wreck the economy, but he's doing it anyway.
02:21Why?
02:22Same thing in Social Security.
02:23Why are they doing all these crazy things that Americans don't like?
02:28One reason, one reason alone, tax breaks for billionaires.
02:34The North Star of the Republican Party's goals.