The administration is in the awkward position of explaining why Trump's election didn't lead to the promised economic boost.

Summary

Republicans are struggling to defend Trump’s economic policies as markets decline and recession fears grow.

The Dow has dropped 7% this month, and tariffs on allies and rivals have raised consumer prices.

Some White House officials worry about a slow recovery, while GOP lawmakers express concern over Trump’s trade moves and deep government cuts.

Lawmakers and donors see a lack of strategy, with tariffs hurting U.S. businesses.