The Enormous Risks a Second Trump Term Poses to Our Economy

By Robert E. Rubin and Kenneth I. Chenault for The New York Times

In this New York Times article, Robert Rubin and Kenneth Chenault write as two figures who have more than a century of combined experience in business, government, and policy. Drawing on their work with elected officials and business leaders across the ideological spectrum, Rubin and Chenault argue that a second presidential term for Donald Trump would pose enormous risks to the U.S. economy. They suggest that while many in finance and business seem to view Trump as essentially a normal Republican candidate on economic issues, this perspective fundamentally misreads both his track record and his stated second-term agenda.

Rubin and Chenault systematically examine Trump's economic proposals through the lens of fiscal policy, trade, regulation, and institutional independence, painting a picture they believe should deeply concern anyone invested in economic stability. Focusing on concrete policy specifics, they conclude with a stark warning about the risks of assuming that surviving one Trump term guarantees surviving another.