Trump’s Bad “60 Minutes” Interview and Worse Economic Policy
The way President Donald Trump operates, it’s not like many of the remarks he made during his recent interview with Lesley Stahl for 60 Minutes were particularly surprising or groundbreaking. Many of his comments were riffs on the same songs he has sung before.
Even if they weren’t very earth-shattering or shocking, meanwhile, Trump’s comments were nonetheless disappointing to hear/read as an American who doesn’t share the same set of values. Stahl’s questions ranged across a fairly wide set of topics, but here are some of Trump’s most noteworthy insights:
Trump “doesn’t know” that humans have a role in climate change.
Pres. Trump seemed to walk back one-time comments he made that climate change is a “hoax.” In the same breath, however, he expressed doubt that it’s manmade, and when Stahl pressed him on the overwhelming evidence that it does exist and that we’re contributing to it, he suggested that this climate change could simply reverse somehow and that the scientists advancing the consensus theory have a “very big political agenda.”
That Trump would feign concern for the effects a shift away from fossil fuels might have on American jobs is commendable, at least by his standards. Trying to effectively deny our hand in climate change as part of a political agenda when the scientific consensus is such a strong one, on the other hand, is exactly the kind of thinking we don’t need at this stage in the game when more urgent action was needed yesterday.
Trump suggested there could be “severe punishment” for Saudi Arabia if found they were behind the disappearance of Saudi journalist Jamal Khashoggi, but didn’t provide specifics.
Trump admitted it was possible the Saudi government was behind the murder of Khashoggi, and indicated the vehement denial on the part of the Saudis. He then hinted that weapons deals could be at stake, but as he did with concerns about climate change, he pivoted to worrying about jobs at companies like Boeing and Lockheed Martin. So, while he acknowledged the possibility of sanctions, Trump doesn’t seem all that committed to endangering business ties with Saudi Arabia because of it. Astonishment of astonishments there.
At this writing, reportedly, the Saudis are preparing to admit Khashoggi died during a botched interrogation. Obviously, the interview was taped prior to these reports. What was worst about this segment, though, was that Trump said the matter was especially troubling because Khashoggi was a journalist, even making an aside about how strange it must be to hear him say that. Yeah, it is, and it comes off as more than a little disingenuous after regularly railing at members of the press and calling them the “enemy of the American people.” Pardon us if we’re not especially enthralled by your promises that you’ll get to the bottom of his disappearance.
Trump claimed that Barack Obama put us on a path to war with North Korea, and qualified his “love” for Kim Jong-un.
Evidently, under President Obama, we were going to war with the Democratic People’s Republic of Korea, but now—BOOM!—no more war and Kim is talking about nuclearization. You’re welcome, America. Get that Nobel Peace Prize nice and shiny for “the Donald.”
Within Trump’s logic, it’s his trust for Kim that has been such an essential diplomatic asset. This despite the possibility raised by Stahl that North Korea hasn’t gotten rid of any weapons and may actually be building more. Trump, attempting to further distance himself from Obama, intimated there are no plans to ease sanctions, but Stahl persisted on the topic of Trump’s stated “love” for North Korea’s despotic leader. Trump tried to minimize the language he used as a figure of speech, but Stahl belabored North Korea’s horrid human rights record under Kim and his father.
Trump’s admiration for dictators is nothing new, but hearing him downplay talk of gulags and starvation is yet bothersome. More on this to come.
Trump still has no idea how tariffs work, nor does he apparently have high regard for his supposed allies.
President Trump insisted China is close to negotiating on tariffs and other matters of trade. In the meantime, though, President Xi Jinping (another leader with dictatorial aspirations overseeing a country with questionable regard for human rights) and China are content to retaliate with tariffs, and Stahl questioned how long we will be content to try to strong-arm China into negotiation when it’s American consumers who are bearing the brunt of these tariffs. Is the point to use the people of each country as bargaining chips in an escalating trade war?
Trump argued with Stahl for a while about whether or not he called it a trade war, a skirmish, or a battle, but this is semantics (and he totally f**king did call it a trade war, according to Stahl). Alongside likely overstating our trade deficit with China, Trump once more communicated his faulty understanding re tariffs. What’s more, he seemed ambivalent as to the continued integrity of diplomatic relations with Europe as a function of NATO membership, and grew combative with Stahl on the point of levying tariffs on our allies and inviting disunion. As long as Trump and his advisers hold to the narrative that the United States is being taken advantage of by the rest of the world when it comes to defense spending and trade, the average consumer is the one who will be caught in the middle.
Trump believes that Vladimir Putin is “probably” involved in assassinations and poisonings.
But only probably. Continuing the earlier conversation about Pres. Trump and his love of autocrats, the man would not commit to saying that he believed Putin was behind attacks on critics and political opponents, professing that he “relies on” Russia and that it’s their country, so it’s essentially their business. I’d be eager to know what precisely he means when he says he relies on them, and it’s possible his drift is a more innocent one, but when so much seems to hint at Trump being compromised by Russian ties, it’s hard to give him the benefit of the doubt.
This sentiment only grows when considering his hedging on Russian interference in the election and his evasiveness on the Mueller investigation. When prompted by Stahl on meddling in the 2016 presidential election, Trump was quick to rebut by claiming China meddled as well. Even if that were true, however—experts say there is evidence of a pro-Chinese influence campaign at work, but no concrete evidence of Chinese electoral meddling—it’s a deflection. Stahl called him out on this tactic, only to be argued within the spirit of whataboutism.
Additionally, Trump refused to pledge that he won’t shut down the Mueller investigation. In other words, um, yeah, you should still be worried about Mueller’s fate as special counsel. Particularly if the midterms go poorly for the Republican Party.
That whole family separation thing was all Obama’s fault.
When asked what his biggest regret so far has been, the first thing that jumped to Trump’s mind was not terminating the NAFTA deal sooner. Not the whole taking children away from their parents thing, as Stahl interjected. It’s not exactly mind-bending to witness Trump fail to recognize a policy bent on unmitigated cruelty as his worst mistake, but it still stings like salt in the proverbial wound if you fashion yourself a halfway decent human being.
To make matters worse, Trump defended the policy under the premise that people would illegally enter the United States in droves otherwise. Furthermore, he blamed Barack Obama for enforcing a policy that was on the books. To be fair, Obama’s record on immigration is not unassailable, as his administration was responsible for its share of deportations. But separating families is a new twist on trying to enact “border security,” and it ignores the perils immigrants face upon return to their native land, perils we have helped exacerbate. Try as he might to escape it, Donald Trump and his presidency will be inexorably tied to this heartless policy directive.
The country is divided, but that’s the stupid Democrats’ fault.
According to Trump, the country was very polarized under Obama, but now on the strength of the economy, he can see it coming together. You’re welcome, America. Stahl questioned him on this criticism of Obama and the Democrats’ contributions to political rancor when he and his Republican cronies just won on the Kavanaugh confirmation and he proceeded to immediately lambast the Dems. Trump predictably deflected by saying it’s the Democrats who don’t want the country to heal. They started it! They were so mean to Brett Kavanaugh! What a bunch of stupid babies!
In case you had any doubts, Trump doesn’t give two shits about Christine Blasey Ford.
Continuing with theme of Kavanaugh’s confirmation, Lesley Stahl addressed Trump’s mockery of Dr. Ford’s testimony before Congress, asking why he felt he had to make fun of her. Trump says she was treated with great respect. Stahl was, like, really? Trump was, like, anyway, who cares? We won.
That’s right, ladies and germs—the ends justify the means. It’s all about the W. You heard him.
The White House is definitely not in chaos. Definitely not.
The on-air portion of the 60 Minutes interview ended with Stahl asking the president about the media reports of a White House in turmoil. Three guesses as to his reply. If you said “fake news,” you’d be correct. (If you didn’t, what’s wrong with you?) Trump also didn’t seem fazed about the high turnover within his administration. Hey, sometimes it just doesn’t work out! Along these lines, Trump wouldn’t commit to James Mattis as Secretary of Defense, nor would he give a ringing endorsement to Jeff “I’m Only a Racist on Days That End in ‘Y'” Sessions. Not that I have any great love for either of those men, but it’s still messed up when a man like Trump expects unflinching loyalty and yet stands by his appointees only when it’s convenient.
Trump also opined on his feelings of distrust of White House officials, consummate with his assessment of Washington, D.C. as a “vicious, vicious place.” Good news, though, fellow Americans: he now feels very comfortable as POTUS. Many of us might be continuously on edge, but he’s right as rain. Well, at least there’s that.
To some, Lesley Stahl’s 60 Minutes interview with Donald Trump was disappointing in that it didn’t break new ground. Sure, it further revealed that he is ignorant of how basic economic and scientific principles work, that he possesses a predilection for strongmen, that he will blame Barack Obama for pretty much anything, that he holds absolutely no regard for survivors of sexual assault, rape, and sexual violence, and that he has the temperament (and possibly the intellect) of a grade-school child. But we already knew all this. As noted earlier, it’s more salt in the wound for members of the so-called Resistance, but short of potentially alienating our allies with his public comments—which is not to be undersold or encouraged, mind you—but comparatively, his words are sticks and stones.
It’s where Trump’s actions and those of his administration have effect that should truly frighten us, meanwhile. As he so often does, Matt Taibbi provides excellent insight into the area of biggest concern: the U.S. economy. Stahl noted in voiceovers during the interview that Trump loves to talk about America’s economic success. After all, it makes him look good. Never mind that he may have a limited role in that success and that he inherited favorable conditions from his predecessor, but he wouldn’t be the first president to take advantage of others’ successes.
Trump was notably silent, conversely, when the Dow recently fell 1,377 points over two days amid a stock market sell-off. As Taibbi writes, this event is but a prelude to a larger economic disaster, and it stands at the confluence of three irreconcilable problems. The first is the Federal Reserve raising interest rates as a means of trying to rein in the excess of large companies taking advantage of quantitative easing and zero-interest-rate policy.
This might not be such a problem except for the second factor: the Trump/GOP tax cuts. As economic experts warned prior to their passage, the cuts were based on overly enthusiastic projections of economic growth. When the inevitable tax shortfall occurred, we would need to start borrowing more, as is already underway. Higher interest rates on increased borrowing means more of an economic burden.
All of this comes to a head when we consider the third problem: tariffs. To try to make up for the issues raised by higher borrowing rates and a revenue shortfall, the government this week debuted new Treasury bills in the hopes of generating immediate cash. The potential conflict arises when considering China is the primary buyer of U.S. T-bills and holds over a trillion dollars in American debt.
The assumption is that Chinese demand for Treasury notes will remain unchanged despite the tariffs. However, as Matt Taibbi and Lesley Stahl and others are right to wonder, what happens if the trade war’s tariffs hurt the Chinese economy to the point that China no longer can or is willing to subsidize our skyrocketing debt? It’s a purely theoretical question at this point, and a rhetorical one at that, but the fallout from the intersection of these trends could be devastating. Taibbi puts a cap on the gravity of the situation thusly:
As we’ve seen in recent decades, even smart people are fully capable of driving the American economy off a cliff. What happens when the dumbest administration in history gets a turn at the wheel? Maybe last week wasn’t the time to start panicking. But that moment can’t be far.
Ominous, but perhaps not hyperbole. Noting what happened last time when the economy nearly collapsed, when the next disaster strikes, it will undoubtedly be we, the other 99%, that pays most dearly. Especially as Mitch McConnell and his Republican partners would have it, now clearly eying cuts to Medicare and Social Security.
President Trump may enjoy schmoozing with Lesley Stahl and giving bad answers his base will eat up now. In the short to long-term, though, the terrible choices of his administration and his party could prove costly to the American economy, and by association, the global economy. Though he undoubtedly won’t meet with our same burden, he should at least take more of the blame when it does.