Trump warns of '1929 style economic depression' if Democrats win Congress

Washington, October 27 (IANS): President Donald Trump warned that a Democratic victory in next week's congressional elections could plunge the United States into an economic depression, as he sought to rally Republican voters with promises of cash payments, lower taxes, tougher immigration laws and an early end to the war with Iran.Addressing a campaign rally in Mississippi, Trump portrayed the November 3 midterm elections as a decisive test of his presidency.The President offered a sweeping defence of his administration's record, claiming unprecedented investment commitments, declining crime, expanding manufacturing and American military dominance over Iran. He also renewed criticism of Canada's trade policies and pledged to give every adult American citizen $5,000 if Republicans retained both chambers of Congress."If the Democrats win, you will have a 1929 style economic depression," Trump told supporters gathered at the Crossroads Arena in Corinth.The rally was organised to support Republican Senator Cindy Hyde-Smith, who faces Democratic challenger Scott Colom in the November 3 election.Trump promised a cash payment to American adults if Republicans won both the House of Representatives and Senate."If Republicans win the House of Representatives and Senate, I am going to give all adult citizens in the United States $5,000," he said.Trump claimed that tariff revenues and economic growth would provide sufficient resources to finance the programme.He estimated its cost at approximately $1 trillion and insisted that the federal government could afford the expenditure."The only caveat is you have to spend the money in the United States of America," he said.The President did not explain how the proposed payments would be distributed, whether congressional approval would be required or how the domestic spending restriction would be enforced.The announcement was a campaign promise rather than an approved federal payment programme.Trump devoted a substantial portion of his address to the conflict with Iran, defending American military operations and predicting that hostilities would end soon.He claimed that US forces had severely damaged Iran's naval, air and nuclear capabilities and established an effective maritime blockade.The President said Iran had been close to developing a nuclear weapon before American military intervention.He claimed that 159 Iranian naval vessels had been destroyed and that hundreds of Iranian fighter aircraft had been rendered inoperable.Trump also said the United States had established control over maritime traffic involving Iran, including the strategically important Strait of Hormuz.He asserted that oil shipments through the waterway had recovered despite the conflict.The President acknowledged that he had anticipated a substantial increase in global oil prices following military operations but said the situation had developed more favourably than expected.He predicted that energy prices would decline further when the conflict ended.Trump also criticised earlier American administrations for failing to confront Iran's nuclear ambitions more aggressively.Defending his economic policies, Trump claimed that tariffs had encouraged foreign manufacturers to establish production facilities in the United States.He said his administration had secured investment commitments worth $22.2 trillion, describing the figure as unprecedented.Trump also turned his attention to Canada, accusing the neighbouring country of maintaining unfair trade barriers against American agricultural products.He claimed that Ottawa was eager to reach a new agreement with Washington."Canada's treated us badly, but they want to make a deal badly, so we'll get that taken care of," Trump said.The President specifically criticised Canadian dairy tariffs, citing rates of 400 per cent.Trump also repeated his assertion that he had renamed a lake bordering Canada as Lake America.Trump pledged that a Republican-controlled Congress would pursue additional restrictions on illegal immigration and strengthen election identification requirements.He said his administration would seek legislation preventing future presidents from reopening the country's borders to unauthorised migrants.The President also promised to pursue restrictions on sanctuary cities and tougher penalties for major drug traffickers, human traffickers and those convicted of killing police officers."We will pass the voter Identification Proof of Citizenship and Save America Act to defend our American elections from theft and fraud," he said.He also promised further legislative action on transgender participation in women's sports and gender-related medical procedures involving children.Trump repeatedly urged supporters to vote for Senator Hyde-Smith.He criticised her Democratic opponent, Scott Colom, over his record as a district attorney and accused him of supporting policies that would weaken law enforcement.The allegations were made during a partisan campaign event and were not independently verified in the supplied transcript.Trump acknowledged that presidents traditionally face difficulties during midterm elections because their supporters do not always turn out in the same numbers as during presidential contests."In this election, if you would, I'm asking you to pretend that I'm on the ballot," he told the crowd.He warned that Republican supporters should not become complacent even in states where the party traditionally enjoys strong electoral support.Mississippi Governor Tate Reeves, Senator Hyde-Smith and several Republican lawmakers also addressed the gathering, urging voters to participate in the November 3 elections.Hyde-Smith highlighted federal funding secured for Mississippi and defended her legislative record, while Reeves presented the election as a choice between competing approaches to government, taxation and economic development.The November 3 midterm elections will determine control of the US House of Representatives and Senate for the final two years of Trump's current presidential term. The outcome will shape his administration's ability to advance legislation on taxation, immigration, federal spending, trade and other domestic priorities.Historically, the party controlling the White House has often lost congressional seats during midterm elections.A shift in control of either chamber could complicate Trump's legislative agenda and increase congressional scrutiny of his administration, while continued Republican majorities would give him greater opportunities to pursue his policy priorities.