Recession Fears Grow as Trump Donations in Question

The David Pakman Show - July 29, 2022

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GDP FALLS for 2nd Quarter in a Row, Recession Fears

Recession fears are mounting in the United States as the Gross Domestic Product (GDP) numbers released yesterday showed the second consecutive quarter of negative growth at -0.9%. This used to be the very definition of a recession, but in recent years the National Bureau of Economic Research (NBER) has adjusted the meaning to reflect more indicators of the economy as a whole and it currently maintains that the US is not in a recession. This is in part because of the exceptionally low unemployment rate, which is at a fifty-year bottom of 3.6%. The declining GDP is attributed to decreases in inventories, residential and commercial investment, and government spending. Over the past few weeks there have been signs that the worst of the economic turmoil is behind us as gas prices and inflation rates are on their way back down while the stock market is starting to recover and the job market remains strong.

LOL: Where Do Donations to Trump Actually Go?

An op-ed written by Republican strategist Karl Rove posed the question “where do Donald Trump’s campaign donations go?” given the former president hasn’t announced his 2024 run yet and he’s not using the funds to support 2022 midterm candidates. Rove points out in his article that Trump could convert the money into campaign funds and that maybe he will in time but he certainly hasn’t done it yet. If the money doesn’t end up going to supporting political campaigns, Trump would open himself up to criminal prosecution, but it’s doubtful that this would be the scandal to do him in. Karl naively writes in his piece that if Trump doesn’t deploy the capital soon that donors may stop giving him money. However, if people haven’t learned their lesson from the Save America PAC money that went towards paying off old campaign debt rather than trying to overturn the 2020 race, they’re not going to learn that lesson now.

From yesterday’s show:

SHOCK: Dems Now FAVORED to Win Senate for 1st Time

For the first time this midterm cycle, Democrats are favored to hold onto the US Senate. Typically, the party of the incumbent president has a poor midterm performance and this year looked to be no different especially given Joe Biden’s low approval ratings and a few troubling economic indicators. But the Republican Party is feeling the effects of its draconian gun and abortion policies and it’s led to Democrats being the current favorites to keep the Senate after November 8th. The FiveThirtyEight projection is that Democrats will pick up two seats, going from 50 to 52. If this is achieved along with maintaining control of the House of Representatives, President Biden will have a much easier time in the next legislative session getting his goals accomplished.

From yesterday’s show:

Biden Brutally Trolls Trump While Hannity Runs COVID Cover

President Biden has tested negative for COVID-19 after experiencing about a week of mild symptoms and he’s using the opportunity to poke fun at Donald Trump. Biden spoke at the Rose Garden to celebrate being back in full swing and he said, “when my predecessor got COVID, he had to get helicoptered to Walter Reed Medical Center. Thankfully, he recovered. When I got COVID, I worked from the upstairs of the White House, in the offices upstairs for a five day period.” Biden went on to credit vaccination and other tools as the reasons for his mild symptoms and speedy recovery. The jab at Trump prompted Fox News propagandist Sean Hannity to run interference for the former president, who said that Biden had a “much, much weaker” variant than Trump got. Everyone is acting petty in this scenario but at least it’s funny to watch.

More on the show:

--Caller wonders what will happen if Trump is charged but not convicted

--Caller talks about the federal criminal investigation into Trump

--Caller admits to showering with glasses on and wiping them clear five times per shower

--Caller doesn't know if climate change can be fixed fast enough

--Caller wants to know how to respond to wacky conspiracy theories

--Caller asks if west coast states matter in American politics

--David responds to viewer emails and social media messages

--On the Bonus Show: Manchin reaches deal on tax hike and climate bill, Republicans vote against post-9/11 burn pit legislation, and much more...

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