I am spending Trump’s first full week writing about the situations that he will be facing and even predicting a few things to come…..
Just how are most Americans coping these days with the economy and their finances?
Minor emergencies like a busted pipe, flat tire or a root canal happen all the time. But for the majority of Americans, such inconveniences are potential recipes for financial ruin, according to a new survey by finance site Bankrate.com.
In the survey released on Wednesday, Bankrate found that 63 percent of Americans don’t have enough saved to cover even a $500 financial setback. And just half of higher income respondents (defined as $75,000 or more in annual earnings) said they have enough cash to handle such an emergency.
Now there will be those on the Right that will have lots to say about these findings….none of which will be accurate…..
Let’s move on…….what can we expect in the economy in Trump’s first 100 days?
For President-elect Trump, boosting economic growth and creating more good-paying jobs recovery will not prove easy. George W. Bush campaigned on — and delivered — lower taxes and more limited government, but his economic expansion was no more robust than Barack Obama’s and ended with the 2007/08 financial crisis.
Mr. Trump has promised a lot that will be difficult to accomplish, because federal resources are limited. Without any new tax or spending initiatives, the federal deficit will grow as more baby boomers retire, and congress will not always cooperate.
Still public confidence is as important as government policies for inspiring growth, and he can still spell out a robust agenda during his first 100 days. Here are five things to look for in the new president’s first days.
FOX News, huh?
Not always the most accurate source for actual news but this one is something to consider when dealing with the economy….Morici is a respected economist so his opinions are worth considering…..
The last factor he, Morici, covers is that of trade…….and then word has come out about one of Trump’s first EOs….(more on EOs later today)…….
President Donald Trump on Monday will unravel the behemoth trade deal he inherited from his predecessor, as two sources familiar with the matter told CNN he plans to sign an executive order to withdraw from the negotiating process of the Trans-Pacific Partnership.That executive order will send signals to Democrats and leaders in foreign capitals around the world that Trump’s rhetoric on trade during the campaign is turning into action. Trump vowed during the campaign to withdraw the US from the Pacific trade deal, commonly known as TPP, which he argued was harmful to American workers and manufacturing.The executive order is expected to be the first Trump will issue Monday, a senior White House official said, and will amount to the administration’s first major action on foreign policy.(cnn.com)
Only thing that is obvious is the Goldman-Sachs will have a good couple of years…..