President Trump’s executive order appears to be more for show than for substance. Congress controls the purse strings and that’s the form of checks and balances built into our constitution. The legislative branch is sure to challenge Trump’s executive order and that’s what Trump is counting on.
Trump believes that if the legislative branch challenges his executive order in court, it will make Democrats look bad and help him win a second term. The problem with this strategy is that most people know that’s what he’s doing because his executive order is so hastily written and does not provide any aid for small businesses, state and local governments or low- and middle-income workers.
Mark Zandi, Moody’s Analytics chief economist, says failure to pass a sufficient fiscal stimulus package will lead to the U.S. falling back into recession. He speaks with Bloomberg’s Tom Keene and Jonathan Ferro on “Bloomberg Surveillance.”