Asian shares and S&P futures rose on optimism that today's rescheduled U.S. vote on health care will pass following Trump's Ultimatum to the Freedom Caucus. European stocks gave up some of Thursday’s gains, falling for the fourth time in five days, and moving further away from a 15-month high reached a week ago while the yen weakened for the first time in nine days.
House Speaker Paul Ryan revealed on Sunday the latest set of changes to the Republican healthcare overhaul bill, among which the provision for more generous tax credits for older Americans as well as the addition of a work requirement for the Medicaid program for the poor.
"I want people to know ObamaCare is dead; it's a dead healthcare plan. These folks were no’s, mostly no's, yesterday, and now every single one is a yes. Only because everyone knows it's on its last, dying feet, the fake news is trying to say good things about it, the fake media. There is no good news about ObamaCare. ObamaCare is dead."
The Republicans have created their own problem. They are trying to keep Obama’s definition of healthcare policies while repealing Obamacare. That is not only an exercise in illogic. It is an exercise in futility.
"While it is possible that ACA replacement legislation could reach the President’s desk in April, as Republican leaders have predicted, a delay until May or later continues to look more likely, particularly in light of today’s CBO estimate."
"The slow process on ACA repeal signals that tax reform is likely to take longer than initially expected and that the final tax legislation that Congress enacts is likely to be less radical than the early proposals from House Republicans and the Trump campaign."
The Great American Escalator is broken - and it badly needs to be fixed. With the election of 2016, Americans within the bubble finally learned that the 21st century has gotten off to a very bad start in America. Welcome to the reality. We have a lot of work to do together to turn this around.