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 on: January 18, 2017, 07:23:19 PM 
Started by Crafty_Dog - Last post by ccp

 on: January 18, 2017, 07:16:52 PM 
Started by Crafty_Dog - Last post by Crafty_Dog
A “Trumpian” Approach to Balancing the Budget
The following is adapted from my January 17th speech at the Heritage Foundation, which can be viewed in full here.
As a candidate, Donald Trump repeatedly stated that balancing the budget would be a goal of his administration.
Many so-called experts have dismissed the idea that he can actually achieve this goal as president.   As usual, the experts have it wrong.  In fact, President Trump’s focus on the fundamentals of the economy and the government will shrink the deficit and balance the budget.

To use a sports analogy, Bill Walsh, the former head coach of the San Francisco 49ers, never focused on the score of the game. His focus was always on getting his players to perfectly execute their plays. If every play was perfectly executed, he believed the score would reflect the team’s actions.

This same principle holds true for balancing the budget. If Trump’s policies are implemented, the result will be a balanced federal budget.

I say this with some authority. As Speaker of the House, we achieved four consecutive balanced budgets. In the four years before I became Speaker, the combined deficit was more than a trillion dollars! Starting in fiscal 1998, we achieved a surplus of $559 billion.

How did we balance the federal budget?

We balanced the budget by focusing on the fundamentals of the economy and the government.

We cut capital gains. Our capital gains tax cut was very successful, and people responded positively to it. This was key to accelerating investment and to expanding small businesses – leading to more tax revenue.

We reformed welfare. Welfare reform not only put millions of people back to work, it also led to the largest decline in child poverty in American history.
We also enacted major reforms to communications regulations which played a role in the explosion of the telecommunications industries, including mobile phone technology and e-commerce.

All of this strengthened the dollar and resulted in lower interest rates.

The combined impact of these and other policy changes led to reduced spending and more federal revenue. That is how we balanced the budget when I was Speaker, and this is how President Trump, working with Speaker Ryan and Leader McConnell can do it again.

Here is what a “Trumpian” approach to balancing the budget would look like.

•   According to Jim Frogue in his book, Stop Paying the Crooks, if President-elect Trump’s team brought in American Express, Visa, and MasterCard to replace the Centers for Medicare & Medicaid Services (CMS) payment bureaucracy, the government could save $1 trillion in fraud over a decade.

•   Applying this same principle to food stamps and disabilities, the government could save another $50 billion a year. If we apply this to the VA and TRICARE, the changes could be immense.

•   We must insist on health information technology interoperability to save lives and reduce costs.

•   We must create a public-private partnership for reaching Mars and the moon - we have to get into space faster for less. This will work if we redesign NASA and create public-private partnerships with entrepreneurs eager to make these exciting achievements happen.

•   We must liberate federal lands for energy, mineral, and other development reflecting the original sense of America as a land of opportunity. We must protect our national parks and truly sensitive environments, but also recognize, for example, that the federal government owning 82% of Nevada deprives Americans of opportunities. These policy changes would generate more than $200 billion a year, or over a trillion a decade.

•   Finally, we must bring American money back home. A five percent, one-time repatriation for the $2 trillion in profits locked up overseas could yield $100 billion in revenue and a substantial increase in investment in the U.S. The revenue from this growth would move us toward a balanced budget and create more jobs.

These are just a few examples. On almost every front, the current policies and bureaucracies are so inefficient and out of touch with 21st century capabilities that the potential is enormous for a less expensive federal government leading to a dramatically bigger American economy with far higher incomes.

This is the path to a Trumpian balanced budget. It will be a consequence of the right policies to spur economic growth and make our government operate more efficiently and effectively.

I will continue my‘Understanding Trump and Trumpism’ series this Thursday, January 19, 2017 at 8am ET. The speech will be streamed live on Facebook and transcript and video will be made available at Gingrich Productions and The Heritage Foundation following the presentation.

Your Friend,

 on: January 18, 2017, 06:40:04 PM 
Started by Crafty_Dog - Last post by Crafty_Dog

 on: January 18, 2017, 06:26:03 PM 
Started by Crafty_Dog - Last post by Crafty_Dog

 on: January 18, 2017, 03:39:41 PM 
Started by Crafty_Dog - Last post by Crafty_Dog

 on: January 18, 2017, 03:31:27 PM 
Started by Crafty_Dog - Last post by ccp
How about a kind tweet like
"I wish Bush sr and Barbara a quick recovery!"

though it might seem strange after his demolition of Jeb it would still be a kind gesture.

Instead of the usual "FU" tweet to whoever pisses him off.

 on: January 18, 2017, 02:00:55 PM 
Started by Crafty_Dog - Last post by Crafty_Dog
The Consumer Price Index Increased 0.3% in December To view this article, Click Here
Brian S. Wesbury, Chief Economist
Robert Stein, Deputy Chief Economist
Date: 1/18/2017

The Consumer Price Index (CPI) increased 0.3% in December, matching consensus expectations. The CPI is up 2.1% from a year ago.

"Cash" inflation (which excludes the government's estimate of what homeowners would charge themselves for rent) rose 0.3% in December and is up 1.7% in the past year.

Energy prices rose 1.5% in December, while food prices were unchanged. The "core" CPI, which excludes food and energy, increased 0.2% in December, matching consensus expectations. Core prices are up 2.2% versus a year ago.

Real average hourly earnings – the cash earnings of all workers, adjusted for inflation – rose 0.1% in December and are up 0.8% in the past year. Real average weekly earnings are up 0.2% in the past year.

Implications: A fitting reading on consumer prices for the final month of 2016, as December's 0.3% rise in prices pushed the twelve-month increase above the Fed's 2.0% target for the first time in more than two years. That is a significant pickup from the 0.7% increase we saw in 2015, and we expect 2017 will continue to see prices move gradually higher. Year-to-year prices have been steadily on the rise over recent months as energy prices, up 1.5% in December and rising at a 27.4% annual rate in the past three months, have turned into a tailwind after serving as a headwind for much of the past two-and-a-half years. Energy prices will likely average at modestly higher prices than 2016, but even stripping out energy and food prices – the latter of which have now been unchanged for six consecutive months – shows inflation up 2.2% in the past year, just a tad higher than the 2.1% gain in 2015. The "core" measure was once again led higher by housing prices in December. Owners' equivalent rent, which makes up about ¼ of the CPI, rose 0.3% in December, is up 3.6% in the past year – the largest annual rise going back to 2007 - and will be a key source of higher inflation in the year ahead. On the earnings front, today's report shows real average hourly earnings rising 0.1% in December. Real earnings rose a modest 0.8% in 2016, a slower pace than the 1.9% gain in 2015, but given continued employment gains this should move higher over the next year. With prices - both including and excluding food & energy costs – rising at or above the Fed's 2% target and continuing a steady climb higher, paired with continued strength in employment, we expect the Fed to raise rates three (and possibly four) times in 2017.

 on: January 18, 2017, 01:50:29 PM 
Started by Crafty_Dog - Last post by Crafty_Dog
Good to see Pelosi getting nailed.

In fairness, I thought I saw something on Sec HHS nominee Price in a similar regard.  Anyone have anything on this?

 on: January 18, 2017, 01:47:52 PM 
Started by ccp - Last post by Crafty_Dog
third post of day:

 on: January 18, 2017, 01:47:05 PM 
Started by ccp - Last post by Crafty_Dog
Off the top of my head, if I were drafting the law i would say:

a) no advertising
b) no public consumption
c) over 18 or over 21

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