Yesterday, when we reported that Trump would make an impromptu TV appearance at 9pm today to address the nation to make his case for a wall on the southern border, we asked whether Trump would "finally put an end to the impasse over the Wall funding and announce that he will invoke a "national emergency" loophole in order to get the wall built" and said that the answer would likely be leaked in the hours ahead of Trump's address.
Moments ago we got said answer when the WaPo reported that while Trump will make a case to a national television audience Tuesday night for long-sought border wall funding, he is not expected to declare a national emergency that could empower him to move forward with construction without congressional consent.
The preview of Trump's speech came thanks to Vice President Pence, who offered unveiled some of Trump’s expected remarks during appearances on three morning television shows Tuesday, arguing that the United States is facing an “undeniable crisis” at its southern border and urging Democrats to “come to the table” to negotiate an end to an impasse over the wall that has led to a partial government shutdown.
“What I expect the president will do tonight is explain to the American people that we have a humanitarian and security crisis at our southern border,” Pence said on NBC’s “Today” show. “He’ll explain the need, not just to build a wall, which he’s determined to do, but also to provide our Border Patrol with additional resources, humanitarian and medical assistance, new technology.”
And while Pence did not rule out the possibility that Trump at some point would declare a national emergency and direct the military to construct a border wall, the vice president said repeatedly that the administration is seeking a negotiated solution with Congress.
Meanwhile, a senior White House official with knowledge of the speech said the plan is not to call for a national emergency but to further build a public case for the wall.
Trump is scheduled to speak from the Oval Office at 9 p.m. and deliver remarks expected to last about eight minutes that will be carried live by all the major television networks. Nancy Pelosi and Chuck Schumer plan to deliver a brief joint response afterward.
News that Trump won't violently break the deadlock over the wall using the "emergency" loophole boosted sentiment as it means that the acrimony in DC won't hit fever pitch - just yet- and it also means that the government will likely remain shut for the foreseeable future. Of course, anyone keeping track of the market's performance since the Dec. 21 shutdown date will note that the 10%+ return in the S&P would imply that the shutdown is quite bullish for stocks.