March 22, 2017


One key stumbling block is causing Wall Street to question Trump's whole economic agenda (Pedro Nicolaci da Costa , 3/22/17, Business Insider)

Now that healthcare has turned into such a debacle that even the country's ruling party and its president cannot agree on even its basic framework, those second and third parts of Trump's legislative agenda are likely to be weakened, delayed and in some cases, foregone.

Goldman Sachs Economist Alec Phillips said in a recent podcast he's telling clients to tamp down their enthusiasm.

"If you look at the chronology of this, right after the election, there was a discussion about this was going to be a 2017 tax cut," Phillips said. "Now it's clearly a 2018 tax cut. Who knows, it could be a 2018-2019 story ultimately."

As for infrastructure, "what everyone was expecting, we might get a little bit of that but that's not what's going to be driving things."

Trump has in fact publicly admitted he would have preferred to start his reform agenda with tax cuts now that he realizes what a behemoth healthcare can be.  As CNBC's Carl Quintanilla aptly put it, Trump has made the issue of healthcare sound like "the vegetables you need to eat before you get to the good stuff."

Donald Trump's presidency is the 'most failed first 100 days ever', says US historian (Charlotte England, 3/22/17, The Independent)

"To be as low as he is in the polls, in the 30s, while the FBI director is on television saying they launched an investigation into your ties with Russia, I don't know how it can get much worse," Douglas Brinkley, a best-selling biographer of presidents Gerald Ford, Franklin Roosevelt, and Theodore Roosevelt, told The Washington Post. 

He added: "This is the most failed first 100 days of any president."

Posted by at March 22, 2017 7:46 AM