Category Archives: The Economy

In the end?…Congress goes it’s own way on the budget

No surprise for this dog…..

Said that he was NOT gonna change many things in the end….

The American political system don’t work that way…..

(Trump and the Republicans made NO major cuts to just about ANY Obama era program…It will be even harder to do so as the calendar nears Midterm elections season)

The Washington Post highlights the ‘deals’ Trump promised….. but lost out on to Paul Ryan, Mitch McConnelll and Yea…Chuck Schumer and Nancy Pelosi

Donald Trump REALLY has NO idea how Washington DC actually works……..

But he can hog the spotlight for his base and the media….

As in the campaign…..

Style….

Little substance….

On Sunday, the president acknowledged he has a lot to learn.“I think the rules in Congress and, in particular the rules in the Senate, are unbelievably archaic and slow moving and, in many cases, unfair,” Trump said on CBS’s “Face the Nation.” “In many cases, you’re forced to make deals that are not the deal you’d make. You’d make a much different kind of a deal. You’re forced into situations that you hate to be forced into.”

— You can read the 1,665-page bill here. The House Appropriations Committee posted a department-by-department breakdown here.

— Now that the language has posted, here are the eight most notable areas Trump caved in his first big spending negotiation:

Here are some of the highlights…..

1. There are explicit restrictions to block the border wall.

2. Non-defense domestic spending will go up, despite the Trump team’s insistence he wouldn’t let that happen.

3. Barack Obama’s cancer moonshot is generously funded.

4. Trump fought to cut the Environmental Protection Agency by a third. The final deal trims its budget by just 1 percent, with no staff cuts.

5. He didn’t defund Planned Parenthood. ….

For the details on the above and more policies that Congress went it’s owm way on….Here….

Some more (Including DOUBLING the number of immigrant Visa’s and banning the DOJ from spending more money go after states on medical marijuana…..Here…

Share on Facebook

House and Senate Leaders reach deal on 2017 Budget…

Donald Trump gets little of what HE wanted….

(Congress writes the Budget and votes on it in the end..NOT the President)

No funding for a Wall….

No funding to Repeal the Affordable Healthcare Law….

It’s funding will will continue subject to more review….

Almost none of the hardright conservative wants got added to the final proposed  bill….

The legislation delivers wins to both parties, though the Republicans and Democrats also had to compromise on some key issues. The Trump administration had demanded that the bill include a down payment on a physical barrier along the Southern border, as well as a rider blocking sanctuary cities from getting new grant funding. The White House received neither though did garner significant new investments in border security. Trump insists now he will still get his wall built imminently and will seek money for the structure in the new spending bill this fall.

Democrats were seeking a permanent commitment to funding Obamacare’s subsidies for low-income Americans’ insurance as well as more money to fill Puerto Rico’s Medicaid coffers. Instead the Trump administration is only indefinitely funding the Obamacare subsidies, and Puerto Rico’s Medicaid solution mostly relies on redistributing existing accounts.

Democrats also fended off riders they view as anti-environmental and anti-abortion…..

More…

Share on Facebook

About those Trump Excutive Orders?

Politico points out that even though Donald Trump has signed more of them than ANY president since FDR?

Most of them do NOT change a thing…

They mostly announce that his admin will look and maybe change previous Obama policies…

Just a little behind the scenes look at Donald Trump’s political show that has been running nonstop for over a year ….Carried to you in screaming headlines by your local cable news channel…

In reality ?

Donald Trump has NOT actually done much of anything in the governing of America….

…days into his presidency, Trump’s high-profile orders have not actually undone Obama’s health reforms, financial regulations, or carbon restrictions. They’ve merely allowed him to announce his intentions to undo those policies in official documents. Trump’s first 30 executive orders will create a lot of federal reviews and reports, along with some new task forces and commissions, but not a lot of substantive change. So far, they’ve been more about messaging than governing, proclaiming his priorities without really advancing his priorities.

The White House is making Trump’s flurry of executive orders the centerpiece of his 100-day legacy, in part because he hasn’t yet signed any major new laws or made much specific progress on his Make America Great Again policy agenda. And his orders have echoed his rhetoric about trade, regulations, crime, and other policy issues, which has given them the appearance of promises kept. But a close look at the language of his orders shows that most of them are basically press releases with presidential signatures, plus instructions to his Cabinet secretaries to look into the issues at hand.

Trump’s order on reorganizing the government simply directed his budget director to devise a plan for reorganizing the government. His order on the opioid crisis set up a commission. His orders on rebuilding the military, streamlining permits for manufacturers, and preventing violence against law enforcement instructed Cabinet secretaries to devise plans to achieve those goals—which they were presumably supposed to do anyway. His orders on trade deficits, drug cartels and burdensome tax regulations called for reports on those issues, essentially homework assignments issued on national television. Yesterday, as he signed an order regarding aluminum imports, he complained that foreign dumping was destroying the U.S. industry. But his order—like a similar one he signed last week about steel imports—did not impose any retaliatory duties; it just called for expediting an ongoing investigation of the issue….

More…

Note….

Obama 2008 100 days?

Obama had to deal with the American and World serve financial crisis...

American Recovery and Reinvestment Act of 2009.[2] The bill passed in the House on January 28, 2009, by a 244–188 vote,[3] and it passed in the Senate on February 10 by a 61–37 margin.[4][5]

Obama stated that he should not be judged by his first hundred days: “The first hundred days is going to be important, but it’s probably going to be the first thousand days that makes the difference.”[6]

Wki….

Share on Facebook

Hey, working class Trump voters. Remember when Trump promised tax cuts for you and not the rich?

CHICAGO, IL - FEBRUARY 12: Activists gather across from Trump Tower before pulling down their pants and mooning on February 12, 2017 in Chicago, Illinois. The event was staged to protest the policies of President Donald Trump and to demand that he release his tax information. (Photo by Scott Olson/Getty Images)

Donald Trump, The Today Show, April 21, 2016:

Q: Do you believe in raising taxes on the wealthy?

A: I do, I do, including myself. I do.

Donald Trump, November 7, 2016, Scranton, PA:

[I will] massively cut taxes for the middle class, the forgotten people, the forgotten men and women of this country, who built our country.

Donald Trump’s Secretary of the Treasury, Steven Mnuchin, “Squawk Box,” CNBC, November 30, 2016:

Any reductions we have in upper-income taxes will be offset by less deductions so that there will be no absolute tax cut for the upper class.

Donald Trump Tax Plan for individuals, released April 26, 2017. Whom does it benefit?:

High-income earners. The plan would reduce the top rate on individual income tax — now 39.6 percent for income over around $470,000 for a married couple — to 35 percent. But that’s only part of the gain for high-income earners. It also would eliminate a 3.8 percent tax, used to help fund Obamacare, that applies to investment income over $250,000 for a couple.

Multimillionaires who want to pass money to their heirs tax-free. The plan would eliminate the estate tax, which currently applies to individuals with estates of $5.5 million or couples with estates worth $11 million.

Donald J. Trump. It is striking how many of the categories listed above affect the president and his family. He is a high-income earner. He receives income from 564 business entities, according to his financial disclosure form, and could take advantage of the low rate on “pass-through” companies. According to his leaked 2005 tax return, he paid an extra $31 million because of the alternative minimum tax that he seeks to eliminate. And his heirs could eventually enjoy his enormous assets tax-free.

Was there ever really any doubt?

More….

Share on Facebook

House passes ‘Clean’ stop-gap spending bill, Senate will follow…Trump left hanging…

Donald Trump’s wishes  get put aside by the Congress which  will NOT consider revenue for a ‘Wall’ or Repealing the Affordable Healthcare Law….

Congress is NOT gonna have a Government shutdown to allow Donald Trump to finally get a piece of major legisiation that would endanger Republicans in next years midterm elections…

An 11th-hour White House push to give President Trump a major legislative victory in his first 100 days in office broke down late Thursday as House Republican leaders failed to round up enough votes for their bill to repeal the Affordable Care Act.

Some White House officials had hoped for a vote on Friday on a measure to prove that Mr. Trump was making good on his promise to undo the sweeping health law — President Barack Obama’s signature domestic achievement — in his first 100 days in office.

But seesawing commitments and the reservations from numerous lawmakers throughout Thursday laid bare the difficulty that Republican leaders faced in trying to push through a repeal bill. While revisions to their bill won over conservative hard-liners in the Freedom Caucus this week, those same changes threatened to drive away other members, even some who supported the first version.

A senior House aide said late Thursday that there would not be a vote on the health bill this week. At least 18 House Republicans oppose the latest version of the bill, the American Health Care Act, and leaders can lose no more than 22 to win passage if all members vote….

More…

Update….

: Senate passes stopgap bill to avoid government shutdown

Share on Facebook

US Economy flatlines for Trump’s first months in office…

The stock market rallied on Donald Trump getting into the White House…

Then investors got to see the man behind the bull shit….

They began to cool down…

Now we find out that despite all the promisaes to make great?

Donald Trump starts off not so hot after all….

The Commerce Department provided on Friday its first statistical snapshot of the American economy in the first quarter, the gross domestic product estimate.

■ The economy barely grew, expanding at an annual rate of only 0.7 percent.

■ The growth was a sharp decline from the 2.1 percent annual rate recorded in the final quarter of last year. It was the weakest quarterly showing in three years.

■ Consumption, the component reflecting individual spending, rose by only 0.3 percent, well below the 3.5 percent rate in the previous quarter.

The Takeaway

The first-quarter performance upset expectations for a Trump bump at the start of 2017.

Modest as the headline number looked, it did not come as a surprise to Wall Street — before the report, Wall Street had been looking for growth to come in at 0.9 percent. What is more, many experts said the data was skewed by seasonal factors, like unusually warm temperatures in many parts of the country in January and February.

Continue reading the main story

The economy’s weakness reflected new caution among consumers. Other sectors like housing and business investment turned in a stronger showing, but not enough to offset factors like weaker retail sales….

More…

Share on Facebook

Senate Minority Leader Schumer won’t approve a week’s delay in budget with GOP poison pill riders…

Majority Leader Republican Mitch McConnell has the votes to push the budget deadline back a week from Saturday…

But Schumer wants a clean short-term continuing resolution (CR) bill to do so…

He will NOT have Democrats agree to a ok bill that would have some the things Democrats have said they will NOT agree to, even if it means shutting the Government down…

Senate Minority Leader Charles Schumer (D-N.Y.) on Thursday objected to a deal on passing a one-week stopgap government funding bill, citing concerns about ongoing negotiations over a larger spending agreement.

Schumer said there were still unresolved “poison pill riders” being worked out on a longer spending deal that would fund the government through Sept. 30.

“Our position has been clear and it’s nothing new. No poison pill riders. The sooner we can resolve this issue, the quicker we can have an agreement on appropriations for 2017, so I object,” he said from the Senate floor.

He added that Senate Majority Leader Mitch McConnell (R-Ky.) has been “cooperative and extremely helpful” but Democrats want to work on the remaining hurdles to a long-term deal before they can agree to pass the short-term continuing resolution (CR).

McConnell had asked for unanimous consent – which requires the agreement of every senator – to allow the Senate to automatically approve the one-week CR once it passes the House on Friday.

More…

Share on Facebook

Is Ohio GOP Governor John Kasich STILL a Republican?

Hmmmmm?

With points of view listed below?

(Except for his hard anti-abortantion stance…)

How could he be part of Trump’s Party today?

Moderate Republicans are supposed to be extinct …Except for a few in the House and the Senate…

Image result for john kasich

The Ohio governor and mainstay of the party’s mainstream is out this week with a book that at times reads like an angry breakup letter.

“Oh yeah, I’m a Repub… ,” Kasich trailed off, conspicuously unable to finish the word in his rapid-fire stream of consciousness from the front seat of a big SUV barreling toward New Hampshire on Wednesday night. Kasich finished second in the state’s hugely important presidential primary last year. That was enough to make it one of the few high points of his campaign and, also conspicuously, one of the first book-signing stops on his national tour.

“I’m pro-environment, I’m pro-trade, I’m anti-debt, I’m pro-immigration, I’m pro-NATO,” Kasich continued. “And when I look at the party, I see it moving in a different direction. But I’ve always said I have the right to define what it means to be a Republican and a conservative.”

At a time when he clearly wants to remain a player on the national stage, Kasich is struggling with his political identity — and so is his party. If and where he fits in a GOP led by Donald Trump will say a great deal about the kind of Republicans who can succeed in it, and whether there’s still space for the open and internationalist values Kasich and other Republicans long have cherished.

Twice Wednesday — once during a forum at Harvard’s John F. Kennedy School of Government, and later in the SUV — Kasich said the day is coming when a well-funded independent can win the White House.

“Both parties, I think, are missing it,” Kasich said…..

More….

Note….

Could we be  in for a possible Kasich/Sanders  ticket in 2020?

image…johnkasich.com

Share on Facebook

Trump likes to play the Media…And they bite….

The Media was out with stories today about the Trump Admin leaving NAFTA…..

Then there was this tweet….

Trump told heads of Canada and Mexico he was not immediately planning to end NAFTA, will try to renegotiate, WH says

Which reminds the Media  and You and Me….

Nate Silver Retweeted Nate Silver

Folks still getting played by this strategy.

Trump’s got this clever strategy of leaking trial balloons, then blaming “dishonest media” for misreporting the story if & when they flop.

Share on Facebook

Could Los Angeles Riots return?

A poll of Los Angles residents  come back with a majority thinking YES they could return due to conditions in the area …

Nearly 6 out of 10 Angelenos think another riot is likely in the next five years, increasing for the first time after two decades of steady decline. That’s higher than in any year except for 1997, the first year the survey was conducted, and more than a 10-point jump compared with the 2012 survey.

Young adults ages 18 to 29, who didn’t directly experience the riots, were more likely than older residents to feel another riot was a possibility, with nearly 7 out of 10 saying one was likely, compared with about half of those 45 or older. Those who were unemployed or worked part-time were also more pessimistic, as were black and Latino residents, compared with whites and Asians, the poll found.

Researchers theorized that the turnaround may be linked to several factors, including the more polarized national dialogue on race sparked by police shootings in Ferguson, Mo., and elsewhere, as well as by the tenor of last year’s presidential election. Moreover, many parts of L.A. still suffer from some of the economic problems and lack of opportunities that fueled anger before the riots…

More…

Share on Facebook

Will Wisconsin and Pennsylvania stay Blue after Trump’s win?

THAT is a critical question for Democrats going into the 2020 Presidential election electoral college politics …..

Below is from Stu Rothenberg….

Are Wisconsin and Pennsylvania realigning with the GOP, or were Donald Trump’s victories in both states – and the accompanying Republican Senate wins last year – merely aberrations?

The answer will likely impact the fate of the country’s two major parties over the next decade.

Partisan realignments follow from significant attitudinal and behavioral changes by voter groups, or by a fundamental change in the make-up of the electorate. But rates of change can differ.

Most Southern states changed party allegiance quickly, as did West Virginia in 2000. It isn’t that Republicans suddenly won every election in those states. Some Democratic officeholders with the strongest grassroots strength held on. But when they left office, their seats flipped to the GOP, first in federal contests and eventually in state legislative races. (Democrats can still be competitive in some contests for state office.)

Of course, not all Southern states flipped simultaneously. The Jimmy Carter and Bill Clinton presidencies delayed realignment in their home states, and downscale, white working-class voters in Louisiana and Arkansas retained their Democratic identification longer than white voters elsewhere in the region.

At some point, white voters in these states simply decided that the national Democratic Party had changed and no longer represented them. And those voters moved en masse to the GOP.

But other realignments over the past 40 years have developed more slowly, the result of evolving voter perceptions about the positioning of the national parties….

More….

Share on Facebook

The American Middle Class is shrinking….Poll

While there is talk from some bean counting economists about how the American economy is doing fine in general?

There AREAmericans that are falling behind in this economy….

These are the people that cost Hillary Clinton the White House after Donald Trump promised them he’d look out for them…

“It’s a clear trend that the middle class in the U.S. is shrinking and not keeping up financially with the upper-income group,” he said. “There is an aura of redistribution of income from middle income to upper income.”

The study acknowledges that “middle class” can connote more than just income — like a college education, white-collar work, economic security, homeownership or even self-image — but for the purposes of the study, it was defined by income.

Whether in Europe or the United States, technological change and globalization mean that people who can adapt and learn new skills can reap bigger rewards, Mr. Kochhar said.

Since founding LaSalle Network, a staffing company based in Chicago, with two employees nearly 20 years ago, Tom Gimbel has watched revenues grow to a projected $70 million this year.

“I know a lot of people who have done much better in the last five years,” he said. “I have people working for me who made $35,000 to $60,000 a few years ago and are earning $60,000 to $150,000 now.”

Mr. Gimbel, who grew up in a comfortable Chicago suburb, has seen his own fortunes improve as well. “We didn’t want for anything, but my dad wasn’t rolling in money,” he said. “I’ve succeeded beyond where my parents were.”

On both sides of the Atlantic, the pressure on the middle class is translating into frustration with the political establishment and distrust of the elites…..

More….

Share on Facebook

Govt Shutdown on the line …Trump backs away from the ‘Wall’…Open Thread for April 24, 2017…

Coming up being stuck between an rock and hard place?

Donald Trump appears to have blinked….

No ONE want’s his monstrasity of a wall build between Mexico and the American border states…

There is no apitite for it from Democrats or Republicans….

Image result for ryan /schumer

There is no need for it with border aprehesions dropped by 60% since Trump started lowering the hammer on illegals at the border and around the country…

And there is NO money for this campiagn dream project either…

So it appears that Trump has signalled that he will withdrawn his demand that a ‘new beautiful 30 foot wall be constructed and settle for some drone’s and smart technology to add to the border effort ….Thus helping his adopted party solve one of the two major obstacles in the way of getting a budget….The other is the idea of Repealing Obamacare…THAT isn’t gonna happen the way he wants either…

And…

The Mexicans where NEVER gonna  pay for the thinbg and smart lawmakers aren’t gonna have Americans anti up the money either….

(Of course Trump is still bullshitting outloud about the wall..But lawmakers aren’t paying much attention to his tweets )…

….Republicans were working to define Trump’s campaign promise down, arguing that any form of border security would fulfill it.

“There will never be a 2,200-mile wall built, period,” said Sen. Lindsey O. Graham (R-S.C.), a supporter of immigration reform who challenged Trump in the 2016 primaries. “I think it’s become symbolic of better border security. It’s a code word for better border security. If you make it about actually building a 2,200-mile wall, that’s a bridge too far — but I’m mixing my metaphors.”

Sen. Rob Portman (R-Ohio), a key appropriator and member of Senate leadership, said that “there could be a wall in some places and technology in other places,” implying that there would not be funding for the wall sketched out in campaign rhetoric. “I think you’re going to get a down payment on border security generally,” he said….

Among other guarantees, Democrats want assurances that insurance subsidies through the Affordable Care Act will continue to be funded. There have been discussions among Republicans that Democrats could agree to provide money for the construction of the wall in exchange for those health funds, but Democrats have refused.

Sunday morning, congressional Democrats submitted to Republicans a compromise spending plan, which included some new money for border security but only if it did not go toward a wall. Democrats also asked for assurances that the health insurance subsidies would continue to be funded, language that would shore up benefits for coal miners and a change that would expand Medicaid benefits to people in Puerto Rico, according to a senior Democratic congressional aide.

image of ….House Speaker Ryan, Trump and Senate Minority leader Schumer…nymag.com

 

Share on Facebook

Islanders NHL Hockey team makes offer for Belmont Race Track stadium….

Image result for ny islanders 2016

 

 

 

      While some local hockey fans have talked about the Islanders Hockey team coming back from Brooklyn to the renovated Nassau Coliseum?…..

THAT is unlikely….

The Nassau Coliseum just isn’t where the team wants to return to…

The team owners are moving ahead with submitting plans to have a new stadium built on New York State property at the Belmont park southern parking lot that currently is being used to park hundreds of new cars for island car dealers…

The property is state property and would NOT need ok’s from local Republican politicians who have their own problems….

Building a new stadium would allow the Islanders to have a stadium that would have amenities that could provide them more revenue than the Coliseum would….It would also be built as bigger faculty, more in line with new venues being constructed for the National Hockey League teams…The site has major highway access and train access, something the Coliseum does NOT have even though it sits next to parts of eastern Queens that has few if any hockey fans…But neither did Brooklyn….

Image result for gov cuomo NYS construction

New York Governor Cuomo is running for re-election next year and probably will make a try for the 2020 Democratic Presidential nomination…

He ‘s been going around the state starting construction (Read Jobs) projects …Bringing the Islanders back the Nassau County at Belmont wouldn’t hurt his efforts one bit….

NHL commissioner Gary Bettman revealed on Friday that the Islanders’ owners plan to officially submit a bid to New York state officials with the hope of building a new arena for the hockey team at the Belmont Park racetrack site.

Speaking to a group from The Associated Press Sports Editors at the league’s midtown office, Bettman added that Isles owners Jon Ledecky and Scott Malkin still are “reviewing their options” to procure a new local arena for the Islanders, who have encountered numerous problems in their two seasons at Barclays Center in Brooklyn since leaving Nassau Coliseum in 2015.

“Yes, there is an RFP (request for proposal) for Belmont and I know they are going to participate in that,” Bettman said. “I believe that everyone thinks there is a terrific opportunity there, if not at Willets Point (in Queens), to create a more hockey friendly environment for the Islanders, which is something Scott (Malkin) is committed to do.”

Bettman also reiterated that the renovated Coliseum, which reopened earlier this month, is “not a long-term option” for the Isles….

More…

Islanders image…elitesportsny.com

NYS Gov image…wsj.com

Share on Facebook

Trump Admin begins to set-up for a Govt. Shutdown…

With Trump’s Budget Director talking about spending on a Trump ‘Wall’ and a Healthcare Cut along with an Infrastructure  money boost?

Democrats and even Trump fellow Republicans are NOT gonna sign off on all of this too keep paying the bills…

The Republicans are supposed to be running things…

A shutdown would be ANOTHER negative for Trump to wear….

The Trump administration is preparing for the possibility of a government shutdown, even though the president and his staff believe one is unlikely to occur.

“I think we’re in good shape,” President Trump said when asked about the possibility of a shutdown.

“We remain confident we’re not going to have a shutdown,” White House press secretary Sean Spicer told reporters at a separate off-camera briefing, calling the preparation “required steps” for the federal agencies and departments.

The government will shut down midnight on April 28 if Congress cannot agree on a spending bill.

The measure has hit several snags over White House demands to include funding for Trump’s proposed border wall and a debate over money for an ObamaCare insurer subsidy program.

But lawmakers can stave off a shutdown if they pass a short-term spending measure to keep the government open while negotiations continue over a broader funding deal.

The Office of Management and Budget (OMB) has begun to coordinate with government agencies to plan for a possible shutdown.

“While we do not expect a lapse, prudence and common sense require routine assessments will be made,” OMB Director Mick Mulvaney said in a statement….

More… 

Share on Facebook

Wall Street has begun to doubt Trump’s ability to do ANYTHING…

The Wall Street Journal reports that that investors are giving up their early view that Trump & Co would pull off American economic growth and profit for them….It’s early…..But things don’t look good….

As with Trump’s Real Estate ventures?

Things don’t stay rosy for long under his watch….

Markets are flashing red on growth as investors begin to return to pre-election bets on the “new normal”—a persistently weak economic expansion.

The shift back is far from complete. And the assessment is muddied by geopolitics and the uncertain French election.

But there are signs that the sugar rush of Donald Trump’s victory and global-growth hopes has faded, raising doubts among some investors about whether stocks can stay high.

 The sharp drop in government-bond yields is the most obvious signal that something is amiss. It is backed up by ominous signs from raw-materials markets, where copper and iron-ore prices have tumbled, and a swing in leadership of the stock market away from go-go bank shares and cheap “value” stocks to safety-first utilities, real estate and companies with high-quality balance sheets and reliable earnings. All this has come as inflation expectations priced into bonds have fallen and as some weak data has led to downgrades of economic forecasts.

Technology stocks’ return to favor also suggests investors are looking for companies able to deliver growth even if the economy is weak.

“The new normal’s still with us,”…

More….

Share on Facebook