Half of Registered Voters Say Donald Trump Deserves Re-election, 52% Say Acquit
President Donald Trump—flanked by Vice President Mike Pence, business leaders and lawmakers—celebrating the signing the United States-Mexico-Canada Trade Agreement (USMCA) at the White House on Wednesday, January 29, 2020.
Gallup finds President Donald J. Trump’s approval rating has hit a new high of 49% and half of registered voters say he deserves to be re-elected in November.
The poll also finds 50% of Americans disapproving of President Trump and just 1% have no opinion. The average percentage not having an opinion on Trump has been 5% throughout his presidency.
However, 63% now approve of the way he is handling the economy, up 6 points from November. That is the highest economic approval rating ever measured for any president on an issue since George W. Bush was buoyed in the months following the September 11, 2001, terrorist attacks.
President Trump’s approval rating increase is driven by higher ratings among both Republicans and independents. Now, 94% of Republicans approve of the president, up 6 percentage points from early January and 3 points from his previous high.
The 42% approval rating among independents is a gain of 5 points, a tie with three other polls as his best among that demographic.
The Gallup poll was conducted from January 16-29 poll, squarely in the middle of the impeachment trial in the U.S. Senate. The most likely result is acquittal, and Americans want to see that outcome.
The poll finds 52% of Americans favor the U.S. Senate acquitting President Trump, while 46% are in favor of a conviction and removing him from office.
Trump Lifting Republican Party
For the first time since 2005, the Republican Party’s favorability rating has exceeded 50%. Now, 51% of Americans view the Republican Party favorably, up from 43% in September.
Meanwhile, 45% have a favorable view of the Democratic Party, down from 48% in September. Further, 48% of Americans identify as Republicans or leaning toward the GOP, compared with 44% who identify as Democrat or leaning toward the Democratic Party.
Barack Obama in 2012 Set Incumbent Record in Iowa Caucuses
U.S. President Donald Trump speaks during a rally at the U.S. Cellular Center in Cedar Rapids, Iowa, U.S. June 21, 2017. (Photo: Reuters)
President Donald Trump broke Barack Obama’s record for the most votes received by an incumbent in the Iowa caucuses. With 99% of precincts reporting (1,764 of 1,765 precincts), President Trump received 31,398 votes, nearly four thousand more votes than Mr. Obama received in 2012.
Former Republican Rep. Joe Walsh and former Massachusetts Gov. William Weld—who represent the hopes and dreams of the remaining NeverTrump movement—garnered just 1.08% and 1.27%, respectively.
“Democrats are stewing in a caucus mess of their own creation with the sloppiest train wreck in history,” Brad Parscale, Trump 2020 campaign manager, said. “It would be natural for people to doubt the fairness of the process. And these are the people who want to run our entire health care system?”
“Tonight President Trump posted a record performance in the well-run GOP Iowa caucuses with record turnout for an incumbent.”
While the number is far below the 186,932 Republicans who turned out in the competitive caucuses in 2016, it is a striking show of strength for the president in a non-competitive year.
In 2004, the last time there was a noncompetitive Republican caucus for an incumbent president, about 8,000 Republicans made a show of support for George W. Bush.
Donald Trump Breaks Barack Obama’s Record for Most Caucus Votes Received By Incumbent President
President Donald Trump arrives on stage to speak at the U.S. Cellular Center in Cedar Rapids, Iowa, Wednesday, June 21, 2017. This is Trump’s first visit to Iowa since the election. (Photo: AP)
With 10% of precincts reporting, or 185 of 1,765 precincts and 3,739 votes, President Donald Trump has easily won the Republican Iowa Caucuses.
Despite challenges from former Massachusetts Governor Bill Weld and former Representative Joe Walsh, the president is receiving roughly 98% of the vote.
While Hawkeye Democrats choose a nominee, the Trump Campaign dispatched more than 80 surrogates at caucus sites across the state of Iowa on Monday. The surrogate list included members of the president’s family, cabinet, campaign, congressional allies, religious leaders and more.
UPDATE: Donald Trump has broken Barack Obama’s record for the most votes received by an incumbent in an Iowa caucus. Historically, incumbent presidents do not receive large caucus votes and turnout isn’t high.
With 86% reporting (1,521 of 1,765 precincts), President Trump received 28,918 votes. Republican voters are making a show of force in 2020 to support their president.
“Democrats are stewing in a caucus mess of their own creation with the sloppiest train wreck in history,” Brad Parscale, Trump 2020 campaign manager, said. “It would be natural for people to doubt the fairness of the process. And these are the people who want to run our entire health care system?”
“Tonight President Trump posted a record performance in the well-run GOP Iowa caucuses with record turnout for an incumbent.”
While Democratic Caucus-goers Choose Their Candidate, Trump Won’t Cede the Hawkeye State
U.S. President Donald Trump speaks during a rally at the U.S. Cellular Center in Cedar Rapids, Iowa, U.S. June 21, 2017. (Photo: Reuters)
While Hawkeye Democrats choose a nominee, Trump Campaign dispatched more than 80 surrogates at caucus sites across the state of Iowa on Monday. The surrogate list includes members of the president’s family, cabinet, campaign, congressional allies, religious leaders and more.
The unprecedented list of surrogates will barnstorm caucus locations across the Hawkeye State.
Donald Trump Jr. City Church of Ames 2400 Oakwood Rd., Ames, IA 50014
Eric Trump Lakewood Elementary School 9210 Happy Hollow Dr., Norwalk, IA 50211
Lara Trump, Trump 2020 Campaign Senior Advisor Northview Middle School 1302 N. Ankeny Blvd., Ankeny, IA 50023 *Lara Trump will be speaking at 6:45 PM (CST)*
Kimberly Guilfoyle, National Chair of Trump Victory Finance Committee and Trump 2020 Campaign Senior Advisor Community Heights Alliance Church 2500 S. 13th Ave. E., Newton, IA 50208
Governor Kim Reynolds (IA) Clarke Community Elementary School 420 E. Jefferson St., Osceola, IA 50213
The Honorable David Bernhardt Bondurant High School 1000 Grant St. N., Bondurant, IA 50035
The Honorable Wilbur Ross Carpenters Hall 1215 Court Ave., Chariton, IA 50049
The Honorable Ben Carson Living Faith Lutheran Church 2180 NW 142nd Street Clive, Iowa 50325 *Caucus site location change*
The Honorable Betsy DeVos Butcher Block Steakhouse 568 Boyson Rd. NE Ste. 100, Cedar Rapids, IA 52402
The Honorable Mick Mulvaney Waukee Elementary School 850 6th St., Waukee, IA 50263
The Honorable Jovita Carranza Summit Middle School 9500 Windsor Pkwy., Johnston, IA 50131
The Honorable Brooke Rollins Central Campus 1800 Grand Ave., Des Moines, IA 50309
The Honorable Paula White West Elementary School (Cafeteria) 1400 W. Broadway St., Polk City, IA 50226
The Honorable Doug Hoelscher Trinity Lutheran Church 1629 Dewitt St., Ellsworth, IA 50075
Former Energy Secretary Rick Perry Winterset Middle School 706 W. School St., Winterset, IA 50273
Former Acting Attorney General Matthew Whitaker Centerville High School 600 CHS Dr., Centerville, IA 52544
Republican Leader Kevin McCarthy (CA) North Ridge Elementary School (Cafeteria) 400 NW 27th St., Grimes, IA 50111
Governor Mike Parson (MO) Quality Inn and Suites 6169 Reve Ct., Fort Madison, IA 52627
Governor Pete Ricketts (NE) College View Elementary 1225 College Rd., Council Bluffs, IA 51503
Governor Doug Burgum (ND) North High School 4200 Cheyenne Blvd., Sioux City, IA 51104
Lieutenant Governor Jeanette Nunez (FL) Madison Elementary 950 E. University St., Pella, IA 50219
Lieutenant Governor Dan Patrick (TX) Grant Ragan Elementary 645 NE Dartmoor Dr., Waukee, IA 50263
Congressman Steve Scalise (LA), House Republican Whip Urbandale High School 7111 Aurora Ave., Urbandale, IA 50322
Congresswoman Liz Cheney (WY), House Republican Conference Chair Grant Elementary School 520 S. Clinton St., Albia, IA 52531 *Congresswoman Liz Cheney will no longer be caucusing*
Congressman Tom Emmer (MN), NRCC Chairman Marshalltown High School – Auditorium 1602 S. 2nd Ave., Marshalltown, IA 50158
Congressman Kevin Brady (TX) Woodside Middle School (Cafeteria) 5810 NE 14th St., Des Moines, IA 50313
Congressman Jim Jordan (OH) Maple Grove Elementary 1455 98th St., West Des Moines, IA 50266
Congressman Rodney Davis (IL) Experience Church 3800 E. Douglas Ave., Des Moines, IA 50317
Congressman Mark Meadows (NC) Hampton-Dumont High School 601 12th Ave. NW, Hampton, IA 50441
Congressman Jason Smith (MO) Washington Elementary School 1406 N. Grand Ave., Charles City, IA 50616
Congresswoman Elise Stefanik (NY) South Central Calhoun Middle School 1000 Tonawanda St., Rockwell City, IA 50579
Congressman Don Bacon (NE) Thomas Jefferson High School 2501 W. Broadway, Council Bluffs, IA 51501
Congressman Matt Gaetz (FL) Redeemer Presbyterian Church 5001 Hickman Rd., Des Moines, IA 50310
Congressman Greg Pence (IN) Pleasantville Baptist Church 430 IA-92, Pleasantville, IA 50225
Former Congressman Rod Blum (IA) Eisenhower Elementary School 3170 Spring Valley Rd., Dubuque, IA 52001
State Senate President Pro Tempore Jerry Behn (IA) Madrid Elementary School 213 W. 1st St., Madrid, IA 50156
State House Speaker Pro Tempore John Willis (IA) Arrowwood Resort & Convention Center — The “Wimbledon Room” 1405 US-71, Okoboji, IA 51355
State Sen. Jim Carlin (IA) Sgt. Bluff Community Center 903 Topaz Dr., Sergeant Bluff, IA 51054
State Sen. Tom Greene (IA) Heritage Church 1126 Locust St., Burlington, IA 52601
State Sen. Craig Johnson (IA) Independence JR/SR High School 700 20th Ave. SW, Independence, IA 50644
State Sen. Carrie Koelker (IA) Beckman High School 1325 9th St. SE, Dyersville, IA 52040
State Sen. Tim Kraayenbrink (IA) Decker Auditorium 1 Triton Cir., Fort Dodge, IA 50501
State Sen. Mark Lofgren (IA) Muscatine High School 2705 Cedar St., Muscatine, IA 52761
State Sen. Tom Shipley (IA) Corning Community Center (City Hall) 601 6th St., Corning, IA 50841
State Rep. Cecil Dolecheck (IA) Mount Ayr High School 1001 E. Columbus St., Mount Ayr, IA 50854
State Rep. Gary Carlson (IA) Muscatine High School 2705 Cedar St., Muscatine, IA 52761
State Rep. Dean Fisher (IA) Toledo Reining Center 1007 S. Prospect Dr., Toledo, IA 52342
State Rep. Tom Gerhold (IA) Atkins Legion Hall 89 Main Ave., Atkins, IA 52206
State Rep. Stan Gustafon (IA) Winterset Middle School 706 W. School St., Winterset, IA 50273
State Rep. Ashley Hinson (IA) Marion High School 675 S. 15th St., Marion, IA 52302
State Rep. Steve Holt (IA) Denison Middle School 1201 N. 16th St., Denison, IA 51442
State Rep. David Kerr (IA) Morning Sun Community Center 106 N. Main St., Morning Sun, IA 52640
State Rep. Brian Lohse (IA) Bondurant High School (Library) 1000 Grant St. N., Bondurant, IA 50035
State Rep. Dave Maxwell (IA) Deep River Legion Hall 305 Main St., Deep River, IA 52222
State Rep. Ann Meyer (IA) Decker Auditorium 1 Triton Cir., Fort Dodge, IA 50501
State Rep. Joe Mitchell (IA) Mt. Pleasant United Methodist Church 309 N. Main St., Mt Pleasant, IA 52641
State Rep. Norlin Mommsen (IA) Dewitt Central High School 519 E. 11th St., DeWitt, IA 52742
State Rep. Sandy Salmon (IA) Antique Acres 7610 Waverly Rd., Cedar Falls, IA 50613
State Rep. David Sieck (IA) East Mills Elementary School 58962 380th St., Hastings, IA 51540
State Rep. Phil Thompson (IA) Clover 4H Building Greene County Fairgrounds 601 E. Lincoln Way, Jefferson, IA 50129
State Rep. Gary Worthan (IA) Trinity Lutheran Church 401 W. 2nd St., Alta, IA 51002
Todd Ricketts, Republican National Committee Finance Chairman Valley Southwoods Freshman High School 625 S. 35th St., West Des Moines, IA 50265
Corey Lewandowski, Trump 2020 Campaign Senior Advisor and Trump 2016 Campaign Manager Panorama Elementary 401 Panther Dr., Panora, IA 50028
Katrina Pierson, Trump 2020 Campaign Senior Advisor Carlisle Elementary (Multi-Purpose Room) 430 School St., Carlisle, IA 50047
Mercedes Schlapp, Trump 2020 Campaign Senior Advisor of Strategic Communications and Former White House Senior Advisor for Strategic Communications Nevada Baptist Church 210 W. 3rd St., Nevada, IA 50201
John Pence, Trump 2020 Campaign Senior Advisor DMACC Boone Campus Gymnasium 1125 Hancock Dr., Boone, IA 50036
Chris Carr, Trump 2020 Campaign Political Director Crestview Elementary School 8355 N. Franklin Ave., Clive, IA 50325
Tim Murtaugh, Trump 2020 Campaign Communications Director Marion High School 675 S. 15th St., Marion, IA 52302
Kayleigh McEnany, Trump 2020 Campaign National Press Secretary Brody Middle School 2501 Park Ave., Des Moines, IA 50321
Marc Lotter, Trump 2020 Campaign Director of Strategic Communications Holmes Jr. High School 505 Holmes Dr., Cedar Falls, IA 50613
David Urban, Trump 2016 Campaign Senior Advisor Polk County River Place 2309 Euclid Ave., Des Moines, IA 50310
David Bossie, Trump 2016 Deputy Campaign Manager Studebaker Elementary School 300 County Line Rd., Des Moines, IA 50320
Ken Blackwell, Former Ohio Secretary of State, Advisory Board Member of Black Voices for Trump and Pro-Life Voices for Trump Clear Lake High School 125 N. 20th St., Clear Lake, IA 50428
Ralph Reed, Chairman of the Faith & Freedom Coalition, Advisory Board Member of Pro-Life Voices for Trump Mt. Pleasant United Methodist Church 309 N. Main St., Mt. Pleasant, IA 52641
Penny Nance, CEO and President of Concerned Women for America (CWA), Advisory Board member of Women for Trump and Pro-Life Voices for Trump St. Francis of Assisi Catholic Church 7075 Ashworth Rd., West Des Moines, IA 50266
Nancy Schulze, Founder of the Republican Congressional Wives Speakers, Advisory Board Member of Women for Trump Vinton Middle School – Library 212 W. 15th St., Vinton, IA 52349
Jessie Jane Duff, Co-Chair of Veterans for Trump, Advisory Board Member of Women for Trump The Centre Hall 1211 4th St. SW, Waverly, IA 50677
Jerry Falwell Jr., President of Liberty University Denison Middle School 1201 N. 16th St., Denison, IA 51442
Matt Schlapp, Chairman of the American Conservative Union Veterans Memorial Hall 1104 Morningview Dr., Harlan, IA 51537
Mike Lindell, Inventor and CEO of My Pillow, Inc. Davis County Middle School 500 E. North St., Bloomfield, IA 52537
Manufacturing Index PMI Positive for First Time Since July 2019
The Institute for Supply Management (ISM) Manufacturing Index (PMI) came in at 50.9 in January, indicating expansion and beating the consensus forecast.
Forecasts ranged from a low of 46.0 to a high of 50.0. The consensus forecast was 48.7, up slightly from the 47.2 in December.
The New Orders Index came in at 52%, up 4.4 percentage points from 47.6% in December. The Production Index rose 9.5 percentage points to 54.3%.
“Comments from the panel were positive, with sentiment improving compared to December,” Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee, said. “Global trade remains a cross-industry issue, but many respondents were positive for the first time in several months.”
Of the 18 manufacturing industries, eight reported growth in January — listed in order — are: Furniture & Related Products; Wood Products; Food, Beverage & Tobacco Products; Computer & Electronic Products; Miscellaneous Manufacturing; Nonmetallic Mineral Products; Chemical Products; and Fabricated Metal Products.
The eight industries reporting contraction in January — listed in order — are: Printing & Related Support Activities; Apparel, Leather & Allied Products; Electrical Equipment, Appliances & Components; Petroleum & Coal Products; Textile Mills; Transportation Equipment; Primary Metals; and Machinery.
“Among the six big industry sectors, Food, Beverage & Tobacco Products remains the strongest, followed closely by Computer & Electronic Products,” Fiore added. “Petroleum & Coal Products is the weakest. Overall, sentiment this month is moderately positive regarding near-term growth.”
Manufacturing Export Wooden Crate, reading Made in USA. 3D Illustration for ISM Manufacturing Index (PMI). (Photo: AdobeStock)
WHAT RESPONDENTS ARE SAYING
“Business has picked up considerably. Many of our suppliers are working at or above full capacity. Tariffs are still a concern and are believed to be a factor in short supply and higher prices of electronic parts. Our profit margin has been somewhat negatively affected by high tariffs, particularly on electronic parts from China.” (Computer & Electronic Products)
“Small signs of increased global demand in the chemical segment.” (Chemical Products)
“Continued signs of slowdown in manufacturing.” (Transportation Equipment)
“Demand for prepared frozen food continues to be strong, but margins compressing as inputs rise with price elasticity preventing accompanying increases.” (Food, Beverage & Tobacco Products)
“Our customer slowdown has not reached the bottom.” (Petroleum & Coal Products)
“Our business is starting 2020 stronger than we finished 2019, as we saw a dramatic downturn in orders over the last four months of 2019. Orders are up to start the year, but slightly behind where they were one year ago.” (Fabricated Metal Products)
“Business is good — above last year, though a little below plan.” (Furniture & Related Products)
“The annual holiday slowdown was slightly more significant compared to the previous three years, heightening concerns over the 2020 first-quarter forecast.” (Electrical Equipment, Appliances & Components)
“The lack of faith in the economy seems to be why we cannot sell capital projects.” (Machinery)
“Tariffs on injection molds will impact selection of mold builder for future jobs. We are more likely to choose domestic rather than offshore.” (Plastics & Rubber Products)
Total Construction Spending Gains 5.0% Year-Over-Year
Total construction spending for December came in at a seasonally adjusted annual rate of $1,327.7 billion, down 0.2% (± 0.8%) from the upwardly revised rate for November. The prior month was revised higher from an estimate of 1,324.1 billion to $1,329.9 billion.
Construction spending in December was still 5.0% (±1.3%) higher than it was in December 2018, when it was $1,264.8 billion. The prior year-over-year gain was 4.1% in November.
However, the value of construction in 2019 was $1,303.5 billion, or 0.3% (±1.0%) below the $1,307.2 billion spent in 2018.
Forecasts ranged from a low of 0.2% to a high of 1.3%. The consensus forecast was 0.5%.
Construction planning drawings on the table and two yellow pencils
Private Construction Spending
Spending on private construction came in at a seasonally adjusted annual rate of $991.2 billion, down 0.1% (±0.5%) from the revised November estimate of $992.2 billion. Residential construction was$540.7 billion in December, or 1.4% (±1.3%) higher than the revised November estimate of $533.3 billion.
Nonresidential construction came in at a seasonally adjusted annual rate of $450.5 billion in December, 1.8% (±0.5%) below the revised November estimate of $458.9 billion.
The value of private construction in 2019 was $974.7 billion, down 2.5% (±1.0%) from the $1,000.2 billion spent in 2018. Residential construction in 2019 was $514.3 billion, down 4.7% (±2.1%) from $539.6 billion in 2018. Nonresidential construction was virtually unchanged (±1.0%) at $460.4 billion from the $460.5 billion in 2018.
Public Construction Spending
The estimated seasonally adjusted annual rate of total public construction spending was $336.4 billion for December, down 0.4% (±1.3%) from the revised November estimate of $337.7 billion.
Educational construction was at a seasonally adjusted annual rate of $80.4 billion, a decrease of 2.1% (±2.1%) from the revised November estimate of $82.1 billion.
Highway construction came in at a seasonally adjusted annual rate of $99.9 billion, or 3.1% (±3.1%) higher than the revised November estimate of $96.9 billion.
The value of public construction in 2019 was $328.8 billion, which is 7.1% (±1.8%) higher than the $307.1 billion spent in 2018. Educational construction in 2019 was $79.0 billion, an increase of 3.4% (±3.6%) from the $76.4 billion in 2018. Highway construction was $98.8 billion, or 8.8% (±4.6%) higher than the $90.8 billion in 2018.
RNC Boasts More than 7 Times Cash on Hand than DNC, No Debt
Republican Red American and Democratic Blue America floating and sinking. (Source: AdobeStock)
The Republican National Committee (RNC) posted a record $26.5 million fundraising haul for December, more than three times the $8.7 million raised by the Democratic National Committee (DNC). The RNC raised over 2.5 times the DNC cycle-to-date, and has 7 times more cash on hand.
RNC fundraising has far outpaced their counterparts at the DNC, a trend that continued in the fourth quarter (Q4) of 2019. The RNC raised $241.1 million for the cycle juxtaposed to $92.3 million for the DNC.
While the RNC has no debt, the DNC continued to tick higher to $6.6 million. The RNC has $72 million cash on hand compared to $10.1 million for the DNC.
“No matter which Democrat becomes their nominee, they will be battered and bruised from a long primary, forced to embrace the radical positions of their party,” Steve Guest, RNC Communications Director said in a statement.
“Their nominee will have no infrastructure or data to inherit from the broke DNC.”
The DNC did not respond to a request for comment.
The Trump Campaign and Republican National Committee (RNC) joint fundraising operation hauled a total $155.2 million in Q4 2019. The three entities for the president and RNC raised $463.5 million in 2019 and have $195.9 million cash on hand.
Donald J. Trump for President received 1,493,455 individual donations, of which 98.78% were “low-dollar” contributions defined as $200 or less. The average donation of $40.87, indicative of grassroots enthusiasm and working-class support.
Cartoon businessman having a tug-of-war with the taxman to avoid paying taxes. (Photo: AdobeStock/PPD/Adiano)
I’ve written dozens of columns explaining why it would be a terrible idea for the United States to enact a value-added tax.
But that’s not because I think consumption taxes are worse than income taxes. Indeed, sales taxes and VATs are less destructive because tax rates tend to be reasonable and there’s no double taxation of saving and investment.
My opposition is solely based on the fact that we shouldn’t give politicians an extra source of revenue to finance bigger government. That would effectively guarantee that the United States would morph into a stagnant European-style welfare state.
In other words, I’d be willing to accept a trade. Politicians get a VAT, but only if they permanently abolish the income tax.
There’s no chance of that happening in Washington, but it may happen in Nebraska, as reported by the North Platte Telegraph.
If Nebraskans can’t agree on reform…, state Sen. Steve Erdman of Bayard has a sweeping answer: …Income and property taxes in Nebraska would be abolished — and the state sales tax replaced by a “consumption tax” to fund state and local governments — if a constitutional amendment spearheaded by Erdman were approved by lawmakers and voters. …It would need “yes” votes from 30 of the 49 senators on final reading to appear on November’s general election ballot. …Nebraska’s state and local governments now collect a combined $9.5 billion annually in taxes, which would require a 10% consumption tax rate to replace, Erdman said. …If income and property taxes go away, Erdman said, all the state and local departments or agencies that enforce, set and collect them wouldn’t be needed, either.
Imagine not having to pay any property or income taxes in Nebraska, but there’s a catch you’d pay a new consumption tax on just about everything you buy, such as food and medical services, things that are not taxed right now. That is the idea behind a new constitutional resolution introduced by state Sen. Steve Erdman. …He and nine other lawmakers introduced LR300CA on Thursday. The resolution would allow voters to decide whether to replace all those taxes with a consumption tax. It is like a sales tax and would be about 10.6% on everything, including services and food. …He said under this proposal, everyone would get a payment called a prebate of about $1,000, which would offset the cost for low-income families. Erdman said it would also eliminate the need for property tax relief and the state having to offer costly tax incentives to attract businesses. “This is fixing the whole issue, everything. This is eliminating all those taxes and replacing it with a fair tax,” Erdman said. “Nothing is exempt,” Erdman said.
I have no idea if this proposal has any chance of getting approval by the legislature, but Senator Erdman’s proposal for a broad-based neutral tax (i.e., no exemptions) would make Nebraska more competitive.
Which would be a good idea considering that the state is only ranked #28 according to the Tax Foundation and is way down at #44 according to Freedom in the 50 States.
In one fell swoop, Nebraska would join the list of states that have no income tax, which is even better than the states that have flat taxes.
P.S. The switch to a consumption tax would address the revenue side of the fiscal equation. Nebraska should also fix the spending side by copying its neighbors in Colorado and adopting a TABOR-style spending cap.
Pie chart depicting total federal spending, or government expenditure categories. (Photo: AdobeStock/GKSD/PPD)
When the Congressional Budget Office (CBO) released its budget outlook, almost everyone in Washington, D.C. foolishly fixated on the estimate of $1 trillion-plus annual deficits.
What’s far more important – and much more worrisome – is that the burden of government spending is projected to relentlessly increase, violating the Golden Rule of fiscal policy.
More specifically, the federal budget currently is consuming 21 percent of gross domestic product, but will consume 23.4 percent of economic output in 2030 if fiscal policy is left on autopilot.
Here is a chart based on CBO’s new data that shows why we should be very concerned.
We’re in trouble today because government has been growing too fast, and we’ll be in bigger trouble in the future for the same reason.
But the situation is not hopeless. The problem can be fixed with some long-overdue and much-needed spending restraint.
We don’t even need to cut spending, though that would be very desirable.
As this next chart illustrates, our budgetary problems can be solved if there’s some sort of spending cap.
The grey line shows the current projection for federal spending and the orange line shows how much tax revenue Washington expects to collect (assuming the Trump tax cut is made permanent). There’s a big gap between those two lines (the $1 trillion-plus deficits everyone else is worried about).
My contribution to the discussion is to show we can have a budget surplus by 2028 if spending only grows by 1 percent annually and we can balance the budget by 2030 if spending grows by 1.7 percent per year.
Needless to say, I’m not fixated on balancing the budget and eliminating red ink.
The real goal is to change budgetary trend lines with a spending cap so that the fiscal burden of government begins to shrink as a share of the nation’s economy.
The bottom line is that modest spending restraint (government growing at 1.7 percent annually, nearly as fast as projected inflation) would slowly but surely achieve that goal by gradually reversing the big-government policies of Bush, Obama, and Trump.
Timothy Shea, senior counselor to Attorney General William Barr, was appointed the next top prosecutor in the nation’s capital, the largest U.S. attorney’s office in the country, on Jan. 30, 2020. (Photo: Justice Department)
On Thursday, Attorney General William Barr named Timothy Shea — a Boston-area native, his senior counsel and closest advisor — the Interim U.S. Attorney in D.C.
He will lead the largest U.S. attorney’s office in the nation, which historically handles some of the most significant and politically sensitive cases, at a time when several are thought to be coming down the pike.
Timothy Shea comes from a family of first responders and is widely seen in Washington as someone respected by both the law enforcement and general community.
“Tim brings to this role extensive knowledge and expertise in law enforcement matters as well as an unwavering dedication to public service, reflected in his long and distinguished career in state and federal government,” Attorney General Barr said in a statement.
“His reputation as a fair prosecutor, skillful litigator, and excellent manager is second-to-none, and his commitment to fighting violent crime and the drug epidemic will greatly benefit the city of Washington.”
While the position generally requires confirmation by the U.S. Senate, the law permits federal judges to vote to appoint a U.S. attorney after 120 days. For now, the U.S. Senate is paralyzed with the impeachment trial, at least until next Wednesday.
The upper chamber cannot handle the affairs of the nation while impeachment trials are held. However, it is not uncommon for the 120-day period to be reached, as was the case with Geoffrey Berman, the U.S. attorney in Manhattan.
Nevertheless, Timothy Shea has played a central role in William Barr’s efforts to reform the Bureau of Prisons following the suspicious death of Jeffrey Epstein at the Metropolitan Correctional Center in New York City.
Mr. Epstein, who was long believed to head up a pedophilia ring serving the nation’s elites, was found dead in his cell. The official suicide ruling has been disputed and polls indicate most Americans believe he was murdered.
The U.S. Attorney in the District of Columbia has been handling the investigation of former FBI Deputy Director Andrew McCabe. Justice Department (DOJ) Inspector General Michael Horowitz referred him for criminal prosecution after an investigation determined he lied under oath and leaked to the media in a manner meant for personal gain.
McCabe’s lawyers tried but failed to persuade officials that he didn’t intentionally lie to the inspector general.
He is also set to take the helm as U.S. Attorney John Durham ramps up his investigation into wrongdoing before, during and after the so-called Russia probe. As People’s Pundit Daily (PPD) reported, he has expanded the investigation and high-profile Obama administration officials are in his crosshairs.
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