Anthony Scaramucci, former White House communications director for Donald Trump, reinforced that the president is living a single and solitary life in the White House, which might impact policy.
"I think a 15% move down in the markets, he'll start caring" about the impact of the government cuts, Scaramucci said about Trump's opinion of his Department of Government Efficiency initiative.
When he came into office, Trump created DOGE by executive order, tasking tech billionaire Elon Musk with running the operation. That initiative has been behind the upheaval and dismantling of government agencies. Websites, grants, programs, and employees have been cut or frozen under the promise that Trump will save taxpayers trillions.
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"Remember, he's living alone in the White House, Nicolle," Scaramucci told MSNBC host Nicolle Wallace. "I think it's important for people to understand that there's nobody there to hand-check him. There's no family in there. And so he's taking calls over the weekend from various CEOs that I know that are trying to talk him off the ledge of this sort of stuff."
Wallace noted that Steve Bannon has been attacking Trump over the DOGE cuts, saying that they specifically hurt people including the MAGA base.
"The stock market will. I mean, you take the market down another 15%, we go into a recession, you'll flip the Congress, even though the Democrats weren't really doing so well from an approval rating right now," predicted Scaramucci. "You knock the economy off the grid, the Democrats will be back in power, and that will liquidate some of President Trump's power. So, he's doing this thinking that it's going to restore manufacturing, but it's actually going to have the opposite effect and market participants know this."
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