Trump is missing the most important asset on which he counted on to win a second term: a booming economy.

Instead, the POTUS is now encountering an economy that was touted as a powerhouse in the past but is now on the verge of dipping into a depression due to the coronavirus pandemic. Joe Biden's success in the Democratic primary following Bernie Sanders's resignation and a hopeful sign in the downward revision of estimated coronavirus deaths are leading to new political urgency to the unique and intense crisis facing the president.

Trump not only needs to worry about stabilizing the economy but also needs to find a way to put a lid on the spread of the deadly virus. As if that weren't enough, he needs to figure out ways to reopen normal life and restore millions of lost jobs, while preventing a historic economic decline.

To make things worse, Trump is still facing criticism for dismissing the threat posed by COVID-19 initially and not accurately handling the crisis. Another mistake could cost him his chance of getting re-elected as the president of the United States.

The state of the country's economy is crucial for any president hoping to be reelected. For Trump, it is even more important given that economic management is the only area he has garnered support during his term, CNN Politics suggests.

Aside from personal, as well as electoral stakes, Trump's decision is important beyond politics. Despite facing heavy criticism for his elusive decisiveness, "you're fired" catchphrase, and tendency to offload blame every time things go wrong, it is no exaggeration to say that he is facing one of the most challenging life-and-death calls faced by any modern president.

On Wednesday, the United States recorded over 1,800 deaths from the coronavirus. While it looks like the pandemic is on the verge of reaching its apex in New York and other hotspots across the country, other regions are experiencing slower recovery as the virus continues to spread, complicating the decision to reboot the economy.

On top of that, Trump is facing terrifying forecasts about unemployment likely to reaching the Great Depression levels above 20 percent. Moreover, there are predictions that hints at massive cuts to growth, triggering domino crises in housing markets, as well as financial.

As soon as the new round of data on initial unemployment claims is rolled out on Thursday, the next snapshot of the impending economic disaster will become clearer.