Fox Business

Frontrunning: July 7

  • LIVE: Hamburg police demand reinforcements, as G20 starts amid heavy rioting (the Local)
  • G-20 Protesters Delay Arrivals at Hamburg Summit With Blockades (BBG)
  • Tensions Run High as Trump and Putin Prepare to Meet (WSJ)
  • Trump-Putin meeting under the microscope (Reuters)
  • Gorbachev urges Trump and Putin to 'rebuild trust' (AFP)
  • Wall Street Eyes Jobless Rate, Wages in June Jobs Report (WSJ)

Stockman Warns Trump "Not A Snowball's Chance In Hell Of Reaching 4% Growth"

"We have a government that is so buried in deficits and debt that it couldn’t do the kind of massive deficit finance tax cuts that accidently happened under Ronald Reagan... There’s not a snowball's chance because it didn’t happen then. If you take 1981 to 1989 as a whole, growth was only 3.4%."

Stockman: Trump's Tax Plan Never Had A Chance

"...there’s going to be no Obamacare repeal, there’s going to be no tax cut, there’s going to be a massive political conflagration. What’s happened in the last few days with Comey and this crazy inquisition on Russia is going to take the government into complete dysfunction and partisan ranks."

Obama To Receive $400,000 Speaking Fee At Cantor Fitzgerald Conference

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.

OMB Director Mulvaney Budgets "Leveraged" $200 Billion For Trump Infrastructure Plan

"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).