“Keep your friends close, and your enemies closer.”
Interesting endorsement from the President yesterday…
“Senator Thom Tillis of North Carolina has really stepped up to the plate. Thom is tough on Crime, Strong on the Border and fights hard against Illegal Immigration. He loves our Military, our Vets and our great Second Amendment. I give Thom my Full and Total Endorsement!”Twitter
Senator Thom Tillis responded in a statement:
“I’m honored to have President Trump’s endorsement, and I’m proud of the results we’ve delivered to reignite our economy, rebuild our military, and make America great again,” said Thom Tillis. “I look forward to campaigning across the state to reelect President Trump, defend our Republican Senate majority and keep North Carolina red.” Twitter
REMINDER: A Trump endorsement is not always a guaranteed primary win. Who can forget what happened in Alabama in 2017? Trump voters know a real endorsement from a forced one by the GOP establishment. Only time will tell how Trump voters feel about The President’s endorsement of Tillis.
BOTTOM LINE: This is either a story of redemption as two men put aside their difference for the better of the country or it’s the swampiest swamp arraignment to ever come out of the swampiest swamp. I guess the voters will decide…
IN OTHER NEWS
HOUSE APPROVES BORDER AID: A divided House voted on Tuesday to send $4.5 billion in humanitarian aid to the border to address horrific conditions facing a crush of migrants, attaching significant rules on how the money could be spent in the first action by Democrats to rein in President Trump’s immigration crackdown… NYT
MUELLER TO TESTIFY: Former special counsel Robert S. Mueller III will testify to Congress in a public session next month about his investigation of Russia’s interference in the 2016 presidential campaign and possible obstruction of justice by President Trump, a reluctant witness long sought by House Democrats… WaPo
THE END IS NIGH
“A billion here, a billion there, pretty soon, you’re talking real money.”
Good news from the CBO today, the financial apocalypse is coming a little later than expected. But don’t worry, it is still coming… WSJ
- HOW BAD IS IT: Rising deficits would push the government’s overall debt load to 144% of GDP by 2049, from 78% projected this year
- SUBJECT TO CHANGE: If federal borrowing rates were 1 percentage point lower each year than CBO projects, for example, debt held by the public would be 107% of GDP by 2049. If they were 1 percentage point higher, debt-to-GDP would total 199%.
- FEEDBACK LOOP: Debt payments, the fastest-growing portion of the federal budget, are expected to triple over the next 30 years, rising from 1.8% of GDP in 2019 to 5.7% in 2049, below last year’s estimate of 6.3% in 2048.
- IT COULD GET WORSE: If Congress votes to boost federal spending next year above caps enacted in 2011, or to extend tax cuts under the 2017 tax-law overhaul set to expire in 2025 these figures will be even higher
BOTTOM LINE: If we don’t significantly cut spending across the board and reform entitlements we are going to be in real trouble. Without spending cuts now the future is nothing but tax hikes and automatic cuts that will cripple our economy possibly forever. So, what is Congress doing about this…
IN OTHER NEWS
POWELL STANDS STRONG: Federal Reserve Chairman Jerome Powell pushed back against President Trump’s repeated demands for lower interest rates—citing the central bank’s decadeslong independence—while explaining why it might nevertheless cut interest rates soon… WSJ