Joe Scarborough put the blame for the stock market’s collapse on Donald Trump
Scarborough explained on “Morning Joe” that President Trump, and more specifically, the tax cuts he pushed through Congress last year were the cause for the market’s volatility.
“What did everyone say during the tax cuts?” Scarborough asked. “You don’t cut taxes when you have full employment. You don’t cut taxes when the economy is doing well. You don’t overheat the economy.”
“Well Republicans didn’t listen, Donald Trump didn’t listen and guess what? The market’s collapsing now and it’s collapsing because what are people afraid of, high-interest rates, because the economy can be overheated, it’s unbelievable.”
Scarborough — channeling his ’90s era conservatism — also accused Trump of ignoring entitlement reform.
“What is dangerous is you allow the debt to continue to go up,” he said. “He promised he wasn’t going to take care of the two programs that were doing the most, unfortunately, to destroy America’s economic future, Social Security and Medicare.”
Scarborough’s analysis comes after the Dow Jones saw a 1,000 point-plus drop on Thursday. It was the second major drop of the week, with the first being Tuesday. Since he took office, President Trump has touted the Dow’s performance as proof of his administration’s economic success. He has yet to respond to the current downturn.