The US economy is on "pause" because of the new administration, according to Blackrock's Larry Fink, and Trump's tax proposals are unlikely to spur enough economic growth (due to demographics), leaving America "on the path to exploding deficits."
Shortly after Barack Obama delivered his first (free) speech today since leaving the White House in Chicago before an audience of community organizers and other fans, Fox News' Charlie Gasparino reports that in what may be his first paid speaking arrangement, Obama will be paid $400,000 to speak at Cantor Fitzgerald's healthcare conference this September, setting the benchmark for how much an hour of the former president's time will cost going forward.
"The president wants a trillion dollars worth of work on the ground and we're going to give it to him," explained Office of Management and Budget Director Mick Mulvaney this afternoon. By the magic of leveraged private investment (that is not buying back its own stock or stashing cash overseas), the Trump administration will transform a $200 billion line item into a trillion-dollar stimulus plan (but it won't be ready until the fall).
"In honor of the Donald’s “Mother of All Bomb” (MOAB) attack on the Hindu Kush mountains Thursday, let me introduce MOAD. I’m referring to the “Mother of All Debt” crises, of course... The opening round is coming when Washington goes into shutdown mode on April 28, which happens to be Day 100 of the Donald’s reign."
According to Bloomberg's Eli Lake, Trump may be on the verge of escalating the proxy war in Syria by sending anywhere between 10,000 and 50,000 troops on the ground, a move which many see as a potential precursor to a war involving the US and Russia.
Bartiromo:"But, do you have to do healthcare before tax reform?
Trump:“Yes. I’m saving a tremendous amount, hundreds and hundreds of millions of dollars we’re saving on healthcare. And all of that saving goes into the tax. If you don’t do that, you can’t put any of the savings into the tax cuts.”
The Executive Director of the Fraternal Order of Police, the largest police union in the United States, apparently warned President Trump that he could endanger public safety if he follows through with cuts in federal grants to "sanctuary cities"...sure, no irony there.
"We are going to become this administration's worst nightmare." Leading officials from Los Angeles, Chicago, and New York have come out swinging a day after AG Sessions demanded yesterday that the country's so-called 'Sanctuary Cities' stop breaking Federal laws (or their funding will be cut, or worse).