Trump says he WANTS economy to crash in next 12 months so that it hurts Biden's election chances
- Former President Donald Trump expressed his desire for a significant economic downturn within the next 12 months during an interview with Lou Dobbs
- Trump candidly mentioned his hope for a crash in order to harm President Biden and improve his own chances in the upcoming election
- Trump acknowledged the current fragile state of the economy but said any progress was due his own administration's efforts
Former President Donald Trump said he hopes the economy will crash within the next 12 months to improve his chances of winning November's election.
'When there's a crash, I hope it's going to be during these next 12 months, because I don't want to be Herbert Hoover,' Trump said. 'The one president - I just don't want to be Herbert Hoover.'
Hoover, the 31st President of the United States, assumed office just before the onset of the Great Depression in 1929. His presidency is often associated with the economic challenges and hardships of that period.
Speaking with former Fox Business host Lou Dobbs, Trump was candid about his wishes for a substantial economic downturn in order to harm President Joe Biden's re-election bid.
'We have an economy that is incredible,' the former President said. 'We have an economy that is so fragile. And the only reason it's running now is it's running off the fumes of what we did - what the Trump administration did. It's just running off the fumes.'
![Former President Donald Trump expressed his desire for a significant economic downturn within the next 12 months in order to improve his election chances](https://i.dailymail.co.uk/1s/2024/01/09/06/79783457-12941627-image-a-29_1704782685220.jpg)
Former President Donald Trump expressed his desire for a significant economic downturn within the next 12 months in order to improve his election chances
![Over the three years Biden has been in office, the three-year inflation rate is 17.2 percent - or an average of 5.9 percent per year. Under Trump, inflation was at an average of 1.9 percent or 7.6 percent cumulatively over the course of his four year term](https://i.dailymail.co.uk/1s/2024/01/09/12/79783451-12941627-Over_the_three_years_Biden_has_been_in_office_the_three_year_inf-a-1_1704802546893.jpg)
Over the three years Biden has been in office, the three-year inflation rate is 17.2 percent - or an average of 5.9 percent per year. Under Trump, inflation was at an average of 1.9 percent or 7.6 percent cumulatively over the course of his four year term
Dobbs, who has long supported the former president, questioned Trump about what measures he might introduce to help those struggling with the current state of the economy.
'So what we will be doing is we will be drilling, we will be reducing energy, that will bring down inflation, that will bring down interest rates,' Trump said, referring to the Keystone XL Pipeline, a proposed pipeline between Alberta, Canada and Nebraska.
Trump supported the pipeline while in office but President Joe Biden did not and revoked its permit.
While acknowledging the current fragile economic state, Trump attributed any positive economic indicators to his administration.
![Hoover, the 31st President of the United States, assumed office just before the onset of the Great Depression in 1929. His presidency is often associated with the economic challenges and hardships of that period](https://i.dailymail.co.uk/1s/2024/01/09/12/79793911-12941627-image-a-4_1704802587790.jpg)
Hoover, the 31st President of the United States, assumed office just before the onset of the Great Depression in 1929. His presidency is often associated with the economic challenges and hardships of that period
![Trump suggested the economy was still running on the momentum of his administration](https://i.dailymail.co.uk/1s/2024/01/09/12/79783453-12941627-Trump_suggested_the_economy_was_still_running_on_the_momentum_of-a-2_1704802546961.jpg)
Trump suggested the economy was still running on the momentum of his administration
![Dobbs, who has long supported the former president, questioned Trump about what measures he might introduce to help those struggling with the current state of the economy](https://i.dailymail.co.uk/1s/2024/01/09/12/79783563-12941627-Dobbs_who_has_long_supported_the_former_president_questioned_Tru-a-3_1704802546964.jpg)
Dobbs, who has long supported the former president, questioned Trump about what measures he might introduce to help those struggling with the current state of the economy
Currently, the inflation rate is at 3.1 percent for the 12-months leading up to November 2023. The latest figures are due out on Thursday.
Over the three years Biden has been in office, the three-year inflation rate is 17.2 percent - or an average of 5.9 percent per year.
Under Trump, inflation was at an average of 1.9 percent for each year of his presidency - or 7.6 percent over the course of the four-year term.
Towards the end of 2023, a new poll pinpointed starkly the steep economic cliff that Biden's reelection campaign is facing. Just 14 percent of voters think his policies have made them better off, according to the survey, published in November suggested.
Overall, almost 70 percent said Biden's economic policies had either hurt the US economy or had no impact, including 33 percent who said they believed the president's policies had 'hurt the economy a lot.'
![The Consumer Price Index (CPI) was pushed up by housing which drove more than half of the monthly growth, the Department of Labor said. Food prices rose just 0.2 percent between November and December](https://i.dailymail.co.uk/1s/2024/01/12/22/79896633-12941627-The_Consumer_Price_Index_CPI_was_pushed_up_by_housing_which_drov-a-1_1705098984048.jpg)
The Consumer Price Index (CPI) was pushed up by housing which drove more than half of the monthly growth, the Department of Labor said. Food prices rose just 0.2 percent between November and December
![Inflation rose to 3.4 percent in December - above economists' predictions - sparking fears the Federal Reserve could stave off interest rate hikes this year](https://i.dailymail.co.uk/1s/2024/01/12/22/79893307-12941627-Inflation_rose_to_3_4_percent_in_December_above_economists_predi-a-2_1705098986838.jpg)
Inflation rose to 3.4 percent in December - above economists' predictions - sparking fears the Federal Reserve could stave off interest rate hikes this year
![Inflation must cool in order to pave the way for interest rate cuts this year - after the Fed hiked rates to a 22-year high of between 5.25 and 5.5 percent. Economists had predicted a rate cut was likely in March this year](https://i.dailymail.co.uk/1s/2024/01/12/22/78928157-12941627-Inflation_must_cool_in_order_to_pave_the_way_for_interest_rate_c-a-3_1705098989348.jpg)
Inflation must cool in order to pave the way for interest rate cuts this year - after the Fed hiked rates to a 22-year high of between 5.25 and 5.5 percent. Economists had predicted a rate cut was likely in March this year
![](https://i.dailymail.co.uk/1s/2023/11/13/16/77745057-12743679-image-a-1_1699893496411.jpg)
![Biden and his aides believe they have a good news story to sell with 'Bidenomics' but voters disagree with most saying they are worse off under his leadership](https://i.dailymail.co.uk/1s/2023/11/13/16/77710917-12743679-image-a-14_1699894189601.jpg)
Biden and his aides believe they have a good news story to sell with 'Bidenomics' but voters disagree with most saying they are worse off under his leadership
Democratic strategists Global Strategy Group and Republican polling firm North Star Opinion Research surveyed 1,004 registered voters nationwide.
Only 26 percent said Biden's policies had helped.
When asked what was causing them most financial stress, some 82 percent of those surveyed said price increases.
'Every group — Democrats, Republicans and independents — list rising prices as by far the biggest economic threat . . . and the biggest source of financial stress,' said Erik Gordon, a professor at Michigan's Ross School of Business.
'That is bad news for Biden, and the more so considering how little he can do to reverse the perception of prices before election day.'
The Biden campaign has dismissed bleak polls as nothing but 'noise' and pointed to similar negative headlines a year before Barak Obama was reelected president in 2012.
Biden administration officials believe they have a good news story to tell on the economy after reducing inflation from post-pandemic highs of more than 9 percent.
The president himself has frequently leaned into 'Bidenomics' — his effort to reinvigorate the nation's industrial sector and create well-paying jobs.
'When Donald Trump looks at America, he sees a failing nation,' Biden said recently. 'When I look at America, I see the strongest economy in the world ... leading the world again, the ability to set the world standards.'