President Trump has expressed support for the continuation of the Import/Export bank. This has seemingly shocked a few people from conservative circles because the modern conservative doctrine has been to oppose the I/E bank.

However, Trump’s position hopefully does not come as a surprise to CTH readers because we identified a year ago how President Trump’s economic policies would seek to refocus the original intent of the Import Export Bank.

The key aspect is to return the IE to its “original intent“; not the bastardized Wall Street construct that exists today as a result of corrupt DC economic policies driven by the Wall Street’s legislative priorities purchased by multinational banks and corporations.

For more than three decades Wall Street has corrupted the economic policies emanating from DC.  The corrupted economic policy created the two economies previously discussed and the disconnected the engine of Main Street from Wall Street.  Yes, we originally shared this discussion in April of 2016, a year ago:

In 2009 the popular conservative opinion was to declare the Supreme Court’s Citizens United decision a win for “our side“. Of course, the decision ultimately opened the floodgates for unlimited corporate spending in elections via the new Super-PAC approach.

In 2016 90% of all American’s polled believe there is too much special interest money in politics, and both political parties no longer need the financial support of the electorate. Corporate lobbyists were always problematic, but now in a post CU world they control almost every aspect of electoral politics – including who wins elections. Citizens United wasn’t a win, its consequence was a major fail.

Within that reality you find one of the synergies between candidate Donald Trump and former candidate Bernie Sanders. The popular insurgencies supporting each candidate rail against the corrupting corporate financial influence. Party leadership? Meh, not-so-much.

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Earlier today President Trump lead a discussion forum at the State Department library with cabinet members and corporate CEO’s to discuss ongoing economic policy and hear about the challenges.

One of the main challenges communicated by the business group was… wait for it.., yep, ObamaCare.  This concern is directly connected to any tax reform plans, and cuts to the heart of President Trump’s earlier economic strategy.

ObamaCare is, at the core, a massive tax program; and it becomes more difficult to navigate tax reform, with the anchor of ObamaCare dragging down opportunity for economic growth and the revenue growth that accompanies expansion.

[Transcript] 10:55 A.M. EDT – THE PRESIDENT:  Thank you all for being here.  Very much appreciate it.  I want to thank Steve Schwarzman for putting together this very incredible group of world-class business leaders.  That’s what you are.

Also, joining us are Secretary Betsy DeVos, Secretary Wilbur Ross, Secretary Elaine Chao, EPA Administrator Scott Pruitt, and my budget director, Mick Mulvaney.  That’s an easy job.  Where’s Mick?  (Laughter.)  Such an easy job.  It’s the easiest job of anybody in the government — right, Mick?

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Strong, concise and direct presentation by Office of Management and Budget Director Mick Mulvaney today during an interview with Chuck Toad.
The primary topic was, as with all discussion topics today, the failed healthcare reform bill, and Mulvaney outlines the severity of the broken DC system against the backdrop of a UniParty in full revolt against any attempt at swamp draining.  However, that said, Director Mulvaney clearly and concisely outlines how the administration is moving forward toward the next objective, tax reform.
Will the UniParty again seek self-swamp-preservation by destroying any tax reform legislation?  Unless something dramatic happens, the most likely answer is yes.

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In a meeting with Gov. Greg Abbott (R-Texas) and Charter Communications CEO Thomas Rutledge on Friday, President Trump revealed a major commitment by the telecommunications company to invest in America.  Charter will invest $25 billion in the U.S. and create 20,000 jobs over the next four years.
Charter Communications will completely end its offshore call centers, choosing to base 100% of its call centers here in the U.S.  This will include a new call center in McAllen, Texas, “Where they will create 600 new American jobs.”

[TRANSCRIPT] 11:03 A.M. EDT THE PRESIDENT: Thank you very much. We greatly appreciate you being here. I’m delighted to welcome Tom Rutledge, Chairman and CEO of Charter Communications — a great company — to the White House.
I’m also very honored that my friend, Texas Governor Greg Abbott — my good friend and supporter — we love you — is here with us today. Very appropriate. He’s done a fantastic job in Texas, and we had a previous governor who did a very good job, right?
GOVERNOR ABBOTT: Right. (Laughter.)
THE PRESIDENT: Right. He’s around here someplace. Standing right over there.
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President Trump, Vice-President Pence and Health and Human Services Secretary, Tom Price, stood united in defeat in the Oval Office as President Trump shares his thoughts on the failure of the ObamaCare repeal/replace bill to pass the House of Representatives.
President Trump points out that any future attempt at repairing ObamaCare will necessarily include Democrats. Ultimately that means a much worse future outcome caused by the intransigent CONservative caucus today with their opposition.

President Trump thanks VP Pence, Speaker Paul Ryan and Secretary Tom Price for their united team effort toward the repeal and replace road map created by Secretary Price.  President Trump also affirms his intention not to let Americans suffer as a consequence of the democrat or republican party and their inability to deliver an appropriate healthcare outcome.
Moving forward, any tax legislation will now have to keep the $1 to $2 trillion ObamaCare spending in place; ultimately meaning far less room for comprehensive tax reform.  Again, the intransigent CONservative caucus just dealt a blow to tax cuts – this is “disappointing” to the Trump economic agenda and will ultimately mean lesser job growth.
[TRANSCRIPT] 4:26 P.M. EDT THE PRESIDENT: Thank you very much. We were very close, and it was a very, very tight margin. We had no Democrat support. We had no votes from the Democrats. They weren’t going to give us a single vote, so it’s a very difficult thing to do.
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The insufferable DC Swamp media-guards were in full Swamp protection mode today.  Office of Management and Budget (OMB) Director Mick Mulvaney appeared on NBC (Chuck Todd) and CBS News (John Dickerson) to discuss the first Trump budget proposal.
Chuck Toad (Meet the Pus) was his insufferable, groaning, grunting, condescending and teeth gnashing self.  Weird how Toad is a budget hawk all of a sudden:

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John Dickerson spent the first 5 minutes of a 6.5 minute interview with the budget director talking about issues unrelated to the budget:
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President Trump’s U.S. trade policy of “America First”, free but FAIR trade, came to the forefront in Germany as Treasury Secretary Steve Mnuchin subtly yet firmly pushed back against language that affirmed globalism and multilateral trade.
According to the Washington Post German officials urged Treasury Secretary Steve Mnuchin to agree to their customary modern free trade language in the G20’s joint statement.
However, the U.S. Treasury Secretary refused their request and instead urged adoption of more general wording allowing each nation to make their own determinations of what constitutes “free and fair trade” with their own best interests in mind.
This approach is the basis for one-on-one bilateral trade.  It is also the starting point toward negotiating exceptional trade deals by providing leverage which allows President Trump, Secretary Ross and Trade Rep Lighthizer to frame proposals (by competing nations) against each other.  By holding firm to the basic trade outlook Secretary Mnuchin is setting the table for the U.S. trade team to renegotiate everything.
The disconnect from the traditional economic group-think of the G20 finance ministers is a direct break from the past two decades.  This central approach reflects the baseline change in ongoing U.S. trade policy.  It would appear President Trump and his economic team are more concerned about the interests of American workers than foreign nationals. Go figure.
Secretary Mnuchin suggested adding more general language committing to “strengthen the contribution of trade.”   A version of that sentence was included in the statement, despite criticisms from some G20 finance ministers that it was pointless.
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It must be nice having an EBT benefit over $5,583.42 to spend on food. (source)
Can you imagine, even fathom, your own family having $5,000+ to spend on food?

How the heck can someone be getting a Food Stamp / EBT benefit over $5,000 ?
This is the reason why many people have no sympathy for liberal budget cut pearl-clutching. Seriously.  Good grief.

President Donald Trump, Vice-President Mike Pence and VA Secretary David Shulkin meet today with veterans to discuss ongoing VA programs including healthcare and veterans support initiatives.
The purpose of today’s meeting was to listen to the ongoing concerns, understand the proposals being implemented, and further recommit to institutional reform and improved standards of care for veterans.

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OMB Director Mick Mulvaney attends the daily White House press briefing and fields questions about the President Trump ‘America-First’ budget.
Director Mulvaney does an exceptional job explaining the larger budgetary issues, priorities and squashing some of the more ridiculous media narratives du jour.

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Regarding the non-discretionary side.  I would remind all:

Trump Economics – […] As the wage rate increases, and as the economy expands, the governmental dependency model is reshaped and simultaneously receipts to the U.S. treasury improve.
More money into the U.S Treasury and less dependence on welfare programs has a combined exponential impact. You gain a dollar, and have no need to spend a dollar. That is how the SSI and safety net programs are saved under President Trump.
When you elevate your economic thinking you begin to see that all of the “entitlements” or expenditures become more affordable with an economy that is fully functional.
As the GDP of the U.S. expands, so too does our ability to meet the growing need of the retiring U.S. worker. We stop thinking about how to best divide a limited economic pie, and begin thinking about how many more economic pies we can create. (link)

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