Weak and getting weaker
President Trump said Saturday en route to Asia that
the reason our stock market is so successful is because of me. I’ve always been great with money, I’ve always been great with jobs, that’s what I do.
None of the these claims are true. Job and economic growth under Trump has been a bit slower than they were s under Obama, not faster. The previous presidency is a major factor in any first 6-10 months of any subsequent presidency, so you can blame that on Obama if you like, but there is no credit due to Trump on both grounds. The stock market is up sharply since Trump’s election, but I’ll only give him credit for that if he takes responsibility for when it falls. The factors determining stock prices are obviously unknown. Trump’s aggressive efforts to eliminate Obamacare and environmental regulations may be part of the story, but the inevitable fall may well erase current gains. Then Trump will no doubt stay silent, or blame Congress and the Democrats.
A president who thinks he determines stock prices is a president unaware of the limits on his power. But we knew that. His tweets this week suggested that the sentence handed down to a soldier who pleaded guilty to desertion was inadequate and that the perpetrator of the terrorist attack in New York City should get the death penalty. The judge in the soldier’s case made clear that it was a previous over-reaching presidential tweet that got the soldier off without prison time. No doubt the courts handling the terrorism case will eliminate consideration of the death penalty for the same reason.
Trump has likewise managed to be counterproductive in other areas as well. The failure to repeal and replace Obamacare is his biggest legislative debacle. The failure to pass his proposed tax cut for business and the rich will be the next. It is likely he will head into the second year of his presidency with no serious legislative accomplishments. His executive actions eliminating environmental and other regulations will be his main achievements, dubious as they may be. They certainly will not bring back coal, as he has repeatedly promised both as candidate and president, but they will still dirty the air Americans breath and the water in the nation’s streams and rivers, not to mention hasten the impact of global warming.
The story is similar in foreign policy, where a president in theory wields more unconstrained power, but Trump has managed to cripple himself by eviscerating the State Department and trying to do everything himself:
Trump’s withdrawal from the Trans-Pacific Partnership (TPP) has undermined the American position in Asia, where the president will visit for the next 10 days. He is demanding that Russia and China help in stopping North Korea’s nuclear and missile ambitions, something he has given neither one much reason to do. His bravado talk of how strong America is in front of our troops in Japan contrasts sharply with his inability to counter North Korea in any meaningful way, including militarily. No doubt he will pronounce his meetings with Chinese President Xi and Russian President Putin great successes, but the fact remains that neither is willing to do much to restrain Pyongyang.
The President has talked a strong line against Iran but done little or nothing to limit its rise. His decertification of the Iran nuclear deal has so far had no consequences, because everyone understands that we are far better off with the deal than without it. The only serious concerns about it are its “sunset” (expiration) and access to Iranian military sites. To get fixed, both these issues will require major concessions from the US that Trump will be unwilling to make. Trump has done nothing against Iran’s surrogate, Hizbollah, in Syria. Lebanese Prime Minister Hariri’s resignation strengthens Hizbollah’s position there. Not to mention that the war against the Houthis in Yemen is not going well. Iran is far stronger regionally than it was when Trump took office.
The one country in which Trump seems to have a serious impact is Saudi Arabia. His appeal to the Saudis to stop terrorist financing led to Riyadh’s blockade of Qatar, driving it closer to Iran and splitting the Gulf Cooperation Council. That is not the Washington’s advantage. Now he seems to have greenlighted the Kingdom’s crackdown on corruption, leading to the arrest of princes uncomfortable with the meteoric rise of Crown Prince Mohammed bin Salman. The Kingdom knows how to turn every phone call from the President into an instrument of royal advantage.
The net effect is clear: the US is weak and getting weaker. This will no doubt continue so long as the president fails to understand the limits on his power.