It’s 2021, and President Donald Trump will shortly be sworn in for his second term. The 45th president has visibly aged over the past four years. He rests heavily on his daughter Ivanka’s arm during his infrequent public appearances.
Fortunately for him, he did not need to campaign hard for reelection. His has been a popular presidency: Big tax cuts, big spending, and big deficits have worked their familiar expansive magic. Wages have grown strongly in the Trump years, especially for men without a college degree, even if rising inflation is beginning to bite into the gains. The president’s supporters credit his restrictive immigration policies and his TrumpWorks infrastructure program.
The president’s critics, meanwhile, have found little hearing for their protests and complaints. A Senate investigation of Russian hacking during the 2016 presidential campaign sputtered into inconclusive partisan wrangling. Concerns about Trump’s purported conflicts of interest excited debate in Washington but never drew much attention from the wider American public.
Allegations of fraud and self-dealing in the TrumpWorks program, and elsewhere, have likewise been shrugged off. The president regularly tweets out news of factory openings and big hiring announcements: “I’m bringing back your jobs,” he has said over and over. Voters seem to have believed him—and are grateful.
Most Americans intuit that their president and his relatives have become vastly wealthier over the past four years. But rumors of graft are easy to dismiss. Because Trump has never released his tax returns, no one really knows.
Anyway, doesn’t everybody do it? On the eve of the 2018 congressional elections, WikiLeaks released years of investment statements by prominent congressional Democrats indicating that they had long earned above-market returns. As the air filled with allegations of insider trading and crony capitalism, the public subsided into weary cynicism. The Republicans held both houses of Congress that November, and Trump loyalists shouldered aside the pre-Trump leadership.
The business community learned its lesson early. “You work for me, you don’t criticize me,” the president was reported to have told one major federal contractor, after knocking billions off his company’s stock-market valuation with an angry tweet. Wise business leaders take care to credit Trump’s personal leadership for any good news, and to avoid saying anything that might displease the president or his family.