A Wall Street insider explains why she thinks the Trump administration is doomed
The Wall St. Journal’s Business Insider is reporting that a business risk manager with more than 30 years of experience says that he believes the Trump Administration is doomed.
“The administration is in the process of getting out of the way, and if they continue to get in the way of the recovery, they’ll lose this election,” John L. Schmitt, who worked as a corporate and corporate governance attorney for four decades, told The Wall ST.
“They’re losing this election, and I think the voters will be smart enough to pick a candidate who doesn’t go down the path of that and who doesn, you know, win.”
“The way they’ve tried to do it, it’s basically to say, ‘Well, we’re going to keep going until we’re at our knees,'” he continued.
“It’s a really, really bad approach.
It’s a recipe for disaster.
The people that are running it, they’re not going to do the right thing.”
Schmitt is one of many business risk managers who are alarmed by Trump’s strategy to cut off funding to the Environmental Protection Agency, a critical regulatory agency for the American economy, the Wall St Journal reported.
“In my mind, it is not an effective way to do business,” Schmitt told the Wall ST Journal.
The president has threatened to cut funding for the EPA, as well as for other agencies like the National Institutes of Health, the National Science Foundation, the Department of Veterans Affairs, the United Nations and other departments, as he attempts to cripple the agency that protects the country.
“Trump wants to cut all of those agencies, he wants to take them out of existence, and he has to,” Schmit said.
“If you can’t fix your problem, you just have a bigger problem.”
The business risk analyst, who did not want to be named, also said he was concerned that Trump would use executive orders to strip funding from certain programs that he has claimed are wasteful, unnecessary and dangerous.
“I do worry about that,” Schimp said.
While some Trump administration officials have argued that the president does not have the authority to remove the agencies from the executive branch, he has the power to direct agencies to eliminate certain programs.
“He does have the power under the Constitution to put it in place, so we have to see what he does,” Schimbts defense attorney, Joe Caporoso, told the WSJ.
“And I think he’s doing a great job.”
Trump has repeatedly said that he does not intend to end the Deferred Action for Childhood Arrivals (DACA) program that provides work permits to people who were brought to the U.S. illegally as children, which is known as Deferred Amnesty.
The program allows about 600,000 young people, known as DREAMers, to work legally in the U., and many of them are living in rural areas.
The DACA program was created in 2012 by President Obama, and was intended to help those who had entered the country illegally as minors.
“This is not a law that I’m going to take away,” Trump said in May, when asked whether he would end DACA.
“We’re not doing that.
We’re not ending DACA.”