I strongly suspect that Ms. Holmes' delusions that she's going to pull herself out of this mess will, at long last, be dismissed when the reaction she gets to this "3 for 1" offer is the sound of crickets.
Back in 2009, the Obama administration drew a lot of fire from employers and labor unions over Obamacare's so-called "Cadillac Tax", a tax on healthcare premiums over a certain threshold. Fast forward eight years and a similar plan from Republicans seems to be holding up their completion of an ACA replacement bill.
With every passing week Goldman has been turning increasingly more pessimistic on Trump's proposed fiscal and budget plans, and it all culminated in a report released over the weekend, in which Goldman's Alec Phillips explains that over the next few months fiscal reofrm watchers will be disappointed as "three factors will make this year’s budget plans even more difficult to put together."
"I’m not looking to pick a fight with the president of the United States, but if his goal is to put the country on a fiscally sound course, he’s going to have to address entitlement reform. Anybody who is going to balance the budget on discretionary spending [cuts] is on a fool’s errand."
Senate Democrats are set to unveil a $1 trillion infrastructure plan and offer President Donald Trump their support if he backs it. The plan includes $180 billion to rail and bus systems, $65 billion to ports, airports and waterways, $110 billion for water and sewer systems, $100 billion for energy infrastructure, and $20 billion for public and tribal lands.
There is much we don’t know about how the Trump presidency will play out. But of one thing we can be fairly certain. President Trump is very likely to preside over the largest expansion of Federal budget deficits in our history.
The healthcare system has been broken to the point that physicians now have a greater incentive to fire their Medicare patients than to treat them. One Florida-based physician summed up the situation like this: “I have decided to opt-out of Medicare, acknowledging that I can no longer play a game that is rigged against me; one that I can never win because of constantly changing rules, and one where the stakes include fines and even potential jail time.”
"The opinions of experts concerning the future are accorded great weight . . . but they’re still just opinions. While I take a dim view of forecasts, and especially of opinions presented as facts, I do believe there are such things as facts. Unfortunately, however, the concept of 'facts' is among the casualties of the increasingly partisan environment. Recently we have seen both the elevation in status of 'non-facts', as well as the tearing down of 'real facts'."
Investors will confront excessive debt, high P/E levels and political uncertainty as they enter the Trump presidential era. In response, according to Jeffrey Gundlach, U.S.-centric portfolios should diversify globally.
"In our estimation the investment climate for risk assets after the election looks a lot like the environment before the election: risky. And while there are many valid reasons to cheer a change in tax policy, saving the U.S. and global economy from its past excesses is not one of them."
For the umpteenth year in a row, mainstream economists and analysts are once again planting the seeds of hope for a return to stronger GDP growth. The White House has hoped for it for the last 8 years, and now President-elect Trump is all but promising a surge in economic growth. Unfortunately, while promises are great, we must analyze the reality of attaining such a lofty resurgence.