The Cost of Chaos: How Trump’s Economic Instability Undermines America’s Credibility
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In a recent America at a Crossroads discussion, attorney and political commentator George Conway joined Sarah Longwell, publisher of The Bulwark and founder of Republican Accountability, to discuss the latest developments in Donald Trump’s economic and legal strategies. The conversation shed light on the real consequences of Trump’s erratic tariff policy, his disregard for institutional norms, and the growing threat his actions pose to the rule of law and America’s global standing.
Trump’s Tariff Whiplash
The discussion began with Trump’s abrupt decision to pause newly imposed tariffs just days after announcing them. Sarah Longwell dismissed the move as a political sleight of hand: “He creates a crisis, then solves the crisis, and declares victory.” While the stock market temporarily rebounded, both Longwell and Conway agreed that the long-term damage to U.S. economic credibility far outweighs the short-term market relief.
Conway emphasized that there is no coherent strategy behind Trump’s economic moves. Instead, he acts impulsively—signing orders, watching the markets react, then walking them back to appear victorious. “It’s not about policy,” Conway said. “It’s about ego and attention.”
Markets React to Instability
While headlines focused on the stock market’s bounce, the bond market told a more troubling story. Longwell pointed out that bond markets reflect investor confidence in a country’s stability. The recent turmoil triggered by Trump’s tariff threats raised alarms among sophisticated investors about whether the U.S. remains a safe bet.
“People losing faith in U.S. Treasury securities is not just bad optics—it increases borrowing costs for the federal government,” Longwell warned. Rising interest rates on government debt mean higher deficits and less room for future investment.
Government Power as a Political Weapon
The conversation took a darker turn when discussing Trump’s expanding use of government institutions for personal retaliation. Longwell described how Trump ordered investigations into former officials like Miles Taylor and Chris Krebs, not based on wrongdoing, but for publicly criticizing him. Conway explained that Trump has cast aside decades of unwritten norms that kept the Department of Justice at arm’s length from presidential politics.
“This is authoritarian stuff,” Longwell said. “Not a close call.”
Even Trump’s recent executive orders have included attacks on law firms representing his political opponents, with threats to revoke security clearances and block access to federal buildings. According to Conway, these actions violate the First Amendment and send a chilling message to anyone who might consider opposing him in court.
A System Under Siege
Both Conway and Longwell warned that the rule of law is under sustained assault. The Trump administration’s repeated efforts to politicize the justice system, manipulate the courts, and target private citizens set a dangerous precedent. Conway drew comparisons to democratic backsliding in Hungary and Poland, where authoritarian leaders neutralized judicial independence as a first step toward consolidating power.
“The legal system tried to hold him to account,” Conway said. “Now he’s trying to dismantle it piece by piece.”
A Call for Vigilance
The stakes are clear: Trump’s return to power could erode America’s credibility, economic stability, and democratic institutions. Both speakers emphasized that now is the time for public vigilance and action. The future of liberal democracy, they argued, depends on rejecting Trump’s chaos—not just in politics, but in the core functions of government and law.
“This is no way to run the world’s largest economy,” Longwell concluded. “And it’s certainly no way to preserve a democracy.”
About America at a Crossroads
Since April 2020, America at a Crossroads has produced weekly virtual programs on topics related to the preservation of our democracy, voting rights, freedom of the press, and a wide array of civil rights, including abortion rights, free speech, and free press. America at a Crossroads is a project of Jews United for Democracy & Justice.