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President Donald Trump arrives to speak to the 2017 Value Voters Summit, Friday, Oct. 13, 2017, in Washington. (Photo: AP)

President Donald Trump arrives to speak to the 2017 Value Voters Summit, Friday, Oct. 13, 2017, in Washington. (Photo: AP)

President Donald Trump said in his remarks to the 2017 Values Voter Summit on Friday that “we are renewing the America we love,” one that worships God, not government. The speech was a declaration to Americans of faith that his administration marks the end of an era that saw a government-backed attack on their values.

“We will not allow government workers to censor sermons or target our pastors, our ministers, our rabbis,” President Trump, who became the first sitting President to give remarks at the event, said. “We are stopping cold the attacks on Judeo-Christian values.”

He heralded the executive order that puts an end to the targeting of religious groups for their beliefs, specifically referring to “the hell” the Little Sisters of the Poor and others went through under Barack Obama.

“We defend our Constitution. We protect religious liberty,” he stated. “Religious liberty is enshrined in the very First Amendment of the Bill of Rights.”

The Little Sisters of the Poor in a nonprofit religious group of Catholic nuns that sued the previous administration over the ObamaCare contraceptive mandate.

Citing George Washington, he stated “religion and morality are indispensable” supports to our Republic, which he called a “nation of believers” who “together are strengthened and sustained by the power of prayer.” He said the strength of the nation is in the human connection made in our communities.

“We love our families. We love our neighbors. We love our country,” he said. “We are proud of our history. We support the rule of law and the incredible men and women of law enforcement.”

Values voters were a key voting bloc in the coalition that propelled President Trump to an overwhelming electoral victory over Hillary Clinton in 2016. These and millions of other voters went heavy for the “working-class billionaire,” whom they saw as someone who would push back against an assault on their values and way of life.

The President received a roaring approval and a standing ovation from the crowd when he mentioned the War on Christmas. Even before he announced his bid for the White House, Mr. Trump lamented how department stores and others have been bullied by political correctness.

“Well guess what?” he said. “We’re saying Merry Christmas again!”

The New York businessman received the largest share of the evangelical vote of any presidential candidate in history, clobbering Mrs. Clinton 81% to 16%. That margin played a key role in Iowa and Wisconsin, the latter not having been carried by a Republican since 1984.

Evangelicals also gave George W. Bush a slight 2-point win over John Kerry in Iowa back in 2004, while President Trump cruised to a 10-point victory in 2016.

“It is our faith and our values that inspires us to give with charity, to act with courage, and to sacrifice for what we know is right,” he told those in attendance. “We are renewing the America we love.”

President Trump, who received one standing ovation after another during his speech, vowed to restore “moral clarity” to the nation’s view of the world. He told values voters at the event that enemies fear the United States because the American people never give up. They fear the power of hope.

“Our people never lose faith, never give in, and always hope for a better tomorrow,” he said. “The people who grace our lives are the true strength of our nation.”

President Trump also carried voters who identified as Protestant or other Christian by 58% to 39%, while taking the Catholic vote 52% to 45%. The latter was a change from the previous two elections, when lopsided margins among Hispanic Catholics gave Barack Obama the edge over John McCain and Mitt Romney among Catholics.

“Bureaucrats think they can run your lives, overrule your values and tell you how to think,” President Trump added. “We know that parents, not bureaucrats, know best how to raise their children.”

“In America, we don’t worship government. We worship God.”

White-only Catholics voted for Mitt Romney by a slight margin, while President Trump won them overwhelmingly. It helped fuel his upset victories in key states like Pennsylvania, Michigan and Wisconsin.

The President ended the historical address with a call for unity and praise for the resilience and goodness of the American people. He said of the Las Vegas shooting and other tragedies that Americans defy “evil and hatred with courage and love.”

“The light shines in the darkness and the darkness has not overcome it. We are one nation and we all hurt together, we hope together, and we heal together,” he said. “When America is unified, no force on Earth can break us apart.”

President Donald Trump said in his remarks

A woman pulls a hood over her head as she walks out of a Starbucks store into the cold wind at Times Square in New York, March 25, 2013. (Photo: Reuters)

A woman pulls a hood over her head as she walks out of a Starbucks store into the cold wind at Times Square in New York, March 25, 2013. (Photo: Reuters)

The Survey of Consumers, a closely-watched gauge of consumer sentiment, surged in October to the highest level since the beginning of 2004. Consumer sentiment hit 101.1 in the preliminary reading this month and consumers are indicating they feel wages are finally starting to rise.

“The October gain was broadly shared, occurring among all age and income subgroups and across all partisan viewpoints,” said Richard Curtain, Chief Economist at the Survey of Consumers. “The data indicate a robust outlook for consumer spending that extends the current expansion to at least mid 2018, which would mark the 2nd longest expansion since the mid 1800’s.”

The results are noteworthy, as three devastating hurricanes only slightly and temporarily impacted consumers’ views. This optimism in the Trump economy stands in stark contrast to the Bush economy, which was hit hard by Hurricane Katrina.

More from Mr. Curtain…

While the early October surge indicates greater optimism about the future course of the economy, it also reflects an unmistakable sense among consumers that economic prospects are now about as good as could be expected. This “as good as it gets” outlook is supported by a moderation in the expected pace of growth in both personal finances and the overall economy, accompanied by a growing sense that, even with this moderation, it would still mean the continuation of good economic times.

Although such an outlook is typically recorded in the late phase of an expansion, its occurrence is independent of the ultimate length of an expansion. Indeed, nothing in the latest survey indicates that consumers anticipate an economic downturn anytime soon – which contrarians may consider a clear warning sign of trouble ahead. Nonetheless, consumers anticipate low unemployment, low inflation, small increases in interest rates, and most importantly, modest income gains in the year ahead. It is this acceptance of lackluster growth rates in personal income and in the overall economy that signifies that consumers have accepted, however reluctantly, limits on the pace of improving prospects for living standards.

Preliminary Results for October 2017

Oct Sep Oct M-M Y-Y
2017 2017 2016 Change Change
Index of Consumer Sentiment 101.1 95.1 87.2 +6.3% +15.9%
Current Economic Conditions 116.4 111.7 103.2 +4.2% +12.8%
Index of Consumer Expectations 91.3 84.4 76.8 +8.2% +18.9%
Next data release: Friday, October 27, 2017 for Final October data at 10am ET

The Survey of Consumers, a closely-watched gauge

A worker stacks boxes of television sets after they have been assembled, checked and repackaged, before moving them to the warehouse at Element Electronics in Winnsboro, South Carolina May 29, 2014. (Photo: Reuters)

A worker stacks boxes of television sets after they have been assembled, checked and repackaged, before moving them to the warehouse at Element Electronics in Winnsboro, South Carolina May 29, 2014. (Photo: Reuters)

The U.S. Census Bureau report on manufacturing and trade business inventories and sales showed an unusually strong build up in August.

The combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,369.2 billion, up 0.7 percent (±0.1 percent) from July 2017 and was up 5.5 percent (±0.4 percent) from August 2016.

Manufacturers’ and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $1,889.0 billion, up 0.7 percent (±0.1 percent) from July 2017 and were up 3.6 percent (±0.3 percent) from August 2016.

The total business inventories/sales ratio based on seasonally adjusted data at the end of August was 1.38. The August 2016 ratio was 1.40.

The U.S. Census Bureau report on manufacturing and

Missouri Democrat Sen. Maria Chappelle-Nadal. (Photo: AP)

Missouri Democrat Sen. Maria Chappelle-Nadal. (Photo: AP)

State Sen. Maria Chappelle-Nadal, a Missouri Democrat who was censured and stripped of committee assignments, is at it again. The same lawmaker drew widespread condemnation for writing in a Facebook response “I hope Trump is assassinated.”

Now, she posted another message on Twitter Thursday comparing President Donald Trump to Adolf Hitler.

Chappelle-Nadal told The Associated Press (AP) that she posted the meme because she was upset by President Trump’s tweets early Thursday suggesting he cannot leave resources and assets in Puerto Rico forever in the wake of Hurricane Maria. The senator, who claimed her mother is from Puerto Rico, said she still has not heard from some of her other relatives on the island.

The meme is a parody of a widely-criticized Dove body wash ad, which was taken down after it sparked a firestorm and dubbed racist. It shows a black woman removing her brown shirt to reveal a white woman underneath in a light-colored shirt. Dove apologized for the ad.

Despite widespread, bipartisan calls for her to resign, she initially blamed President Trump for her prior post hoping for his assassination. Chappelle-Nadal, who played a key role in pushing the debunked “Hands Up, Don’t Shoot” narrative in Ferguson that crumbled under forensic and eyewitness scrutiny, only offered an apology after repeated responses that were deeply disturbing to members of her own party.

“State Sen. Chappelle-Nadal’s comments are indefensible,” Stephen Webber, chairman of the Missouri Democratic Party said. “All sides need to agree that there is no room for suggestions of political violence in America — and the Missouri Democratic Party will absolutely not tolerate calls for the assassination of the president. I believe she should resign.”

Chappelle-Nadal represents the 14th District, which includes University City and Ferguson. She personally held rallies that were precursors for violence on the day a grand jury decided not to indict former Ferguson Police Officer Darren Wilson in the shooting of Michael Brown, including one across the street from the fire department.

A 12-person grand jury in Ferguson — which was comprised of 9 whites and 3 blacks — decided not to indict Officer Darren Wilson for the shooting. As a result of the decision, Ferguson was nearly burned to the ground during riots and law enforcement around the country was besieged by targeted attacks.

The grand jury decision was backed by a report by the Justice Department (DOJ) concluding the claims that born the “Hands Up, Don’t Shoot” mantra were completely false. In truth, Brown attacked the police officer and went for his firearm after committing a strong-arm robbery.

She once “wildly” accused Jeff Roorda of the St. Louis Police Officer Association of being a racist on CNN, a network that helped to push the hatred-breeding lie. The U.S. Secret Service field office in St. Louis is now investigating the University City Democrat.

Worth noting, a newly-obtained report by the Federal Bureau of Investigation (FBI) finds it’s “very likely” the false narrative started by Black Identity Extremist (BIE) in Ferguson “spurred” an increase in cop killings. The report identifies Black Identity Extremist (BIE) as a new domestic terror threat.

Chappelle-Nadal and others have never apologized for pushing a lie that led to violence and riots.

State Sen. Maria Chappelle-Nadal, a Missouri Democrat

A shopper passes a ''Sale'' sign at Quincy Market in downtown in Boston, Massachusetts, U.S. January 11, 2017. (Photo: Reuters)

A shopper passes a ”Sale” sign at Quincy Market in downtown in Boston, Massachusetts, U.S. January 11, 2017. (Photo: Reuters)

The U.S. Census Bureau said Thursday retail sales posted strong gains in September, driven in part by replacement demand and auto sales. Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, retail sales came in at $483.9billion.

That’s an increase of 1.6% (±0.5%) from the previous month and 4.4% (±0.7%) higher than September 2016.

Total sales for the July 2017 through September 2017 period were up 3.9% (±0.5%) from the same period a year ago. The July 2017 to August 2017 percent change was revised from down 0.2percent (±0.5 percent)* to down 0.1% (±0.1%)*.

Retail trade sales were up 1.7% (±0.5%) from August 2017, and up 4.7% (±0.7%) from last year. Gasoline Stations were up 11.4% (±1.4%) from September2016, while Building Materials and Garden Equipment and Supplies Dealers were up 10.7% (±2.1%) from last year.

The U.S. Census Bureau said Thursday retail

Consumer Price Index (CPI) Graphic

Consumer Price Index (CPI) Graphic

The Labor Department through the Bureau of Labor Statistics (BLS) said the Consumer Price Index (CPI) posted a 0.5% gain in September. However, softness in housing and medical weighted down the so-called core CPI and still indicates underlaying weakness in inflation pressure.

The so-called core CPI, which excludes food and energy, gained by just 0.1% in September.

Over the last 12 months, the CPI rose 2.2%. Worth noting, the 12-month change has been accelerating since it was just 1.6% in June, while the 12-month change in the index for all items less food and energy remained at 1.7% for the fifth month in a row.

The gasoline index soared by 13.1% in September and represented roughly three-fourths of the seasonally adjusted gains in the overall index. The energy index has gained 10.1% over the past 12 months, its largest 12-month increase since the period ending March 2017.

The so-called core index–which excludes food and energy–gained by just 0.1% in September.

The food index increased 1.2% over the last year.

The Labor Department through the Bureau of

U.S. President Donald Trump calls on Republican Senators to move forward and vote on a healthcare bill to replace the Affordable Care Act, as people negatively affected by the law stand behind him, in the Blue Room of the White House in Washington, U.S., July 24, 2017. (Photo: Reuters)

U.S. President Donald Trump calls on Republican Senators to move forward and vote on a healthcare bill to replace the Affordable Care Act, as people negatively affected by the law stand behind him, in the Blue Room of the White House in Washington, U.S., July 24, 2017. (Photo: Reuters)

President Donald Trump has instructed the Department of Health and Human Services (HHS) to discontinue payment for ObamaCare subsidies immediately. The move will deal a major blow to ObamaCare, pressure lawmakers to fix the broken law and almost assuredly draw a legal challenge.

“The Democrats ObamaCare is imploding. Massive subsidy payments to their pet insurance companies has stopped. Dems should call me to fix!” he said in a pre-dawn tweet on Friday.

“ObamaCare is a broken mess,” President Trump added. “Piece by piece we will now begin the process of giving America the great HealthCare it deserves!”

White House domestic policy director Andrew Bremberg told reporters during a conference call Thursday that the Trump Administration intends to take “additional actions” on health care over the next few months.

“We will discontinue these payments immediately,” Acting HHS Secretary Eric Hargan and Medicare Administrator Seema Verma said in a joint statement.

In another joint statement, House Minority Leader Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., said that the President’s actions will increase premiums, which are already skyrocketing under ObamaCare.

“If these reports are true,” the Democrats said in the joint statement, referring to the president’s plans, “the president is walking away from the good-faith, bipartisan Alexander-Murray negotiations and risking the health care of millions of Americans.”

President Trump signed an executive order on Thursday expanding healthcare associations to millions and allowing those plans to be purchased across state lines.

The President was joined by Senator Rand Paul, R-Kty., who spoke about the order before Vice President Mike Pence introduced the main event. The libertarian-leaning Senator Paul and the President had been working on this order for months.

“This is what real free market replacement looks like.”

The Presidential Executive Order Promoting Healthcare Choice and Competition Across the United States is aimed at the roughly 28 million Americans who aren’t purchasing healthcare on the ObamaCare exchanges. It aims to arrest the decline in options and affordability to small businesses and their employees as a result of the destabilization of the insurance markets.

The White House hopes to implement within 6 months, which directs Secretary of Labor Alexander Acosta to expand access to Association Health Plans and come up with ways to allow purchasing across state lines. Health Associations, which essentially give millions the same group insurance that big corporations offer, may grow to be larger than the largest of corporations.

While “association health plans” could be shielded from some state and federal insurance requirements, the White House said participating employers would not be allowed to exclude workers from the plan, or charge more to those in poor health or with preexisting conditions.

President Donald Trump has instructed the Department

U.S. President Donald Trump calls on Republican Senators to move forward and vote on a healthcare bill to replace the Affordable Care Act, as people negatively affected by the law stand behind him, in the Blue Room of the White House in Washington, U.S., July 24, 2017. (Photo: Reuters)

U.S. President Donald Trump calls on Republican Senators to move forward and vote on a healthcare bill to replace the Affordable Care Act, as people negatively affected by the law stand behind him, in the Blue Room of the White House in Washington, U.S., July 24, 2017. (Photo: Reuters)

President Donald Trump signed an executive order expanding healthcare associations to millions and allowing those plans to be purchased across state lines.

The President began what he called “a truly historic announcement” by thanking the Pakistani government for their cooperation in helping to secure the release of the Boyle-Coleman family from captivity.

“A lot of countries are starting to respect the United States of America once again.”

The President was joined by Senator Rand Paul, R-Kty., who spoke about the order before Vice President Mike Pence introduced the main event. The libertarian-leaning Senator Paul and the President had been working on this order for months.

“This reform, if it works and goes as planned, will allow millions of people to get insurance across state lines,” Sen. Paul said. “I’m very glad to be part of this.”

“This is what real free market replacement looks like.”

The Presidential Executive Order Promoting Healthcare Choice and Competition Across the United States is aimed at the roughly 28 million Americans who aren’t purchasing healthcare on the ObamaCare exchanges. It aims to arrest the decline in options and affordability to small businesses and their employees as a result of the destabilization of the insurance markets.

“Seven years ago, Congressional Democrats broke the American health care system,” President Trump said, adding the order will “increase competition, increase choice and access to high-quality healthcare options. This will cost the United States government virtually nothing and people will have great healthcare.”

Sen. Paul echoed the President on cost in an op-ed for Breitbart News published just before the announcement.

“The 28 million individuals left behind by Obamacare will now be eligible for inexpensive insurance,” he wrote. “The cost to the taxpayer? ZERO! As opposed to the trillion-dollar, ‘fake’ replacements we voted on, this replacement simply legalizes choice.”

Still, about half of the counties in the U.S. will only have one insurer in the ObamaCare market next year. White House domestic policy director Andrew Bremberg told reporters during a conference call Thursday that the Trump Administration intends to take “additional actions” on health care over the next few months.

The order, which the White House hopes to implement within 6 months, directs Secretary of Labor Alexander Acosta to expand access to Association Health Plans and come up with ways to allow purchasing across state lines. Critics say it will pull younger, healthier people out of the marketplace and further hurt ObamaCare. However, they aren’t buying at the needed rate right now.

“This will allow small employers to have the same options as large employers to get their employees more options,” the President said. “This will create tremendous competition and transformative change aimed at creating more and lower prices.”

While “association health plans” could be shielded from some state and federal insurance requirements, the White House said participating employers would not be allowed to exclude workers from the plan, or charge more to those in poor health or with preexisting conditions.

“We are moving toward lower costs and lower options in the health care market,” President Trump added.

Health Associations, which essentially give millions the same group insurance that big corporations offer, may grow to be larger than the largest of corporations.

Sen. Paul noted how million-person Health Associations “will have enormous leverage to get better prices” for consumers, which is “exactly why Big Insurance opposes them.”

President Donald Trump signed an executive order

Producer Price Index (PPI) Graphic

Producer Price Index (PPI) Graphic

The Bureau of Labor Statistics (BLS) said Thursday the Producer Price Index (PPI) bounced back strongly in September, meeting the median forecast. The Labor Department said a strong increase in demand for services and hurricane-related increases in energy prices fueled the 0.4% gain in final demand.

Final demand prices moved up 0.2% in August and ticked down 0.1% in July. On an unadjusted basis, the final demand index gained 2.6% for the 12 months ended in September, the largest rise since an advance of 2.8% for the 12 months ended February 2012.

Prices for final demand services rose 0.4% and and the index for final demand goods gained 0.7%.

Prices for final demand excluding foods, energy, and trade services increased 0.2% in September, unchanged from August. For the 12 months ended in September, the index for final demand less foods, energy, and trade services increased 2.1%.

The Bureau of Labor Statistics (BLS) said

President Donald Trump speaks about tax reform, Wednesday, Aug. 30, 2017, at the Loren Cook Company in Springfield, Mo. (Photo: AP)

President Donald Trump speaks about tax reform, Wednesday, Aug. 30, 2017, at the Loren Cook Company in Springfield, Mo. (Photo: AP)

In my ideal world, we’re having a substantive debate about corporate tax policydouble taxationmarginal tax rates, and fundamental tax reform (plus spending restraint so big tax cuts are feasible).

Sadly, we don’t live in my ideal world (other than my Georgia Bulldogs being undefeated). So instead of a serious discussion about things that matter, there’s a big fight in Washington about the meaning of Donald Trump’s words.

Politico has a report on this silly controversy. Here are some of highlights.

“We are the highest taxed nation in the world,” President Donald Trump has repeated over and over again. …He said it at a White House event last Friday. He’s tweeted it, repeated it in television interviews and declared it at countless rallies. It is his go-to talking point, his favorite line… It is also false — something fact checkers have been pointing out since 2015.

This fight revolves around the fact that Trump is referring to corporate taxes, but generally does not make that explicit. So you have exchanges like this.

White House press secretary Sarah Huckabee Sanders sought for the second time in less than a week to defend the comment… “We are the highest taxed corporate tax [sic] in the developed economy. That’s a fact,” Sanders said when pressed on the comment during a briefing. “But that’s not what the president said,” a reporter retorted. “That’s what he’s talking about,” Sanders responded. “We are the highest taxed corporate nation.” “But that’s not what he said. He said we’re the highest taxed nation in the world,” said the reporter, Trey Yingst.

Sigh. What a silly exchange. It reminds me of the absurd debate about “what the definition of is is” during the Clinton years.

I start with the assumption that all politicians aggressively manipulate words, either deliberately or instinctively. Or maybe just out of sloppiness.

So let’s look at three bits of data, starting with the numbers that are least favorable to Trump. Here’s a chart from the Organization for Economic Cooperation and Development. It’s definitely not my favorite international bureaucracy, but it has good apples-to-apples figures for developed nations. And you can see that the United States (highlighted in red) definitely does not have the highest overall tax burden.

For what it’s worth, we should be happy about these numbers. Indeed, I think they help to explain why Americans are much more prosperous than our European friends. And it’s also worth noting that Trump – at best – is being sloppy when he asserts that America is the “highest taxed nation.”

The President’s defenders can argue, with some legitimacy, that he often makes that claim while talking about business taxation. In those cases, it’s presumably obvious that “highest taxed” is a reference to corporate rates.

And if that’s the case, looking at a second set of numbers, the President is spot on. The United States unambiguously has the highest corporate tax rate among developed nations. And the U.S. may even have the highest corporate rate in the entire world depending on how certain severance taxes in developing nations are categorized.

Moreover, the United States has a very onerous system of worldwide taxation, accompanied by rules that rank very near the bottom.

In other words, Trump has a very strong case, but he undermines his argument when he doesn’t explicitly state that he’s talking about corporate taxation.

There’s even a third set of numbers that Trump could cite when discussing the “highest taxed nation.” As I’ve noted before, the United States actually has the most “progressive” tax system in the developed world.

But the President shouldn’t cite me when he can easily use quotes and data from the Washington Post on September 19, 2012.

The United States has by far the most progressive income, payroll, wealth and property taxes of any developed country.

Or the same newspaper on April 4, 2013.

…the American system remains the most progressive tax system in the developed world.

Or the Washington Post on April 5, 2013.

A few readers were surprised by my mention Thursday that the U.S. tax code…is actually the most progressive in the developed world. But it’s true! …Our top 10 percent…pays a much higher share of the tax burden than the upper classes in other countries do.

Here’s the most relevant chart.

These numbers may not be terribly relevant for the current controversy since Trump’s tax plan is focused more on business taxpayers rather than individual taxpayers.

But our friends on the left are very anxious to impose more class-warfare taxation, so we should file this data for future reference.

P.S. The April 4, 2013, story in the Washington Post includes this very important passage.

…social democracies like France, Germany and Sweden have actively regressive systems heavily reliant on value-added taxes.

This reinforces what I’ve repeatedly noted, which is that Europe’s costly welfare states are financed by lower-income and middle-class taxpayers (in large part because of punitive value-added taxes). The bottom line is that we should listen to Bernie Sanders and become more like Europe. But only if we want ordinary citizens to pay much higher taxes and to accept much lower living standards.

The debate over whether President Donald Trump

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