This moment in American history is rife with danger, and not always from Trump's current actions and the current state of our weakened and battered democracy. What he has done in the seven and a half months in office is really bad, but if every Republican in Congress were to be killed in a tragic blimp accident where Trump and Vance were piloting, then we could probably recover fairly quickly. As Adam Smith said, there is a lot of ruin in a nation, which means that we can absorb a lot of terrible things, but we can still bounce back.
There is not, however, an infinite amount of ruin in a nation.
Krugman, for instance, lays out the potentially catastrophic impact of politicizing the Federal Reserve. Trump's - and really any Republican's - budget is a fucking mess. It pays for tax cuts with deficit spending. Cynically, this means that when Democrats regain power, one of the things that they have to do is rein in the fiscal mismanagement that they inherited. This means they can't do all the things they might like.
Side note: Our town has almost always been run by Republicans, and they incurred a massive debt to the nearby city who supplies our water. Waterbury raised their rates after building a new water treatment plant, raised the rates for everyone to whom they supplied water and we just decided not to pay the new rates. Two court cases later, and we have to issue a bond to cover tens of millions in debt. People are pissed and this could lead to Democrats winning control of the Town Council...just in time to face the massive tax increases needed to pay off the bonds. This is GOP governance 101.
If Trump succeeds in politicizing the Fed, then he could really punish the American economy in ways that could take a decade to recover from. If we take the inflation of the 1970s as an example, it took a punishing recession to finally snuff it out. For both fiscal and political reasons, Trump wants to inflate the currency. It will make the debt smaller and give a boost to a faltering economy. The problem is that we have a faltering economy because of inflationary uncertainty. Reducing interest rates will add fuel to the inflationary fires that were created by tariffs and deportations.
The other important factor is that - despite his wild and easily falsifiable boasting - Trump is becoming more and more unpopular. A new NBC poll has him at 43-57 approval.
If you dive into the actual policy stuff, he has approval rates of 41% in trade and significantly 39% on inflation. Even on border security, he's at 47%, and that's his strongest issue. The two most important issues for Americans are the economy and threats to democracy, followed by health care. In other words, these are all issues which Democrats could see people turning to them, if Trump's actions tank the economy. When you break down the economy, it's inflation that has people most concerned.
For that matter, 78% of Americans support vaccines. This is a poll of over 30,000 people. This is a high confidence poll. We are already seeing slackening in demand and economic uncertainty lead to an uptick in unemployment and employment for recent college graduates is terrible.
The reason this is bad - beyond the fact that it is prima facie bad - is that as Trump becomes more desperate, he will take more and more desperate actions. Yesterday, he seemed to threaten war against Chicago, which should be impeachable. JD Vance applauded the war crimes that America seemed to commit this past week against that Venezuelan boat. Needing to retain the support of MAGA as his support elsewhere collapses, he will double and triple down in illegality and cruelty.
"Democratic backsliding" is helped by the autocrat being popular. Putin was at first. Orban was. Erdogan was. By the time they destroy the last few remnants of democracy and become unpopular, it's too late. The good news is that Trump is not popular. The bad news is that this will likely accelerate his most lawless instincts.