Sunday, June 30, 2019
Trump Deregulation Will Boost Household Income by $3,100, Report Finds
The Trump administration deregulation efforts will raise incomes by about $3,100 per household over the next five to 10 years, and sharply reduce prices for consumers, according to a report released Friday by the White House Council of Economic Advisers.
“The deregulatory efforts of the Trump administration have also removed mandates from employers, especially smaller businesses, and have removed burdens that would have eliminated many small bank lenders from the marketplace,” Casey Mulligan, the chief economist for the Council of Economic Advisers, told reporters Friday. “These deregulatory actions are raising real incomes by increasing competition, productivity, and wages.”
The Council of Economic Advisers report is titled “The Economic Effects of Federal Deregulation Since January 2017: An Interim Report.”
The report takes a sampling of 20 major deregulatory efforts, which it projects alone will save consumers and businesses about $220 billion annually, and increase after-inflation incomes by 1.3%.
“Many of the most notable deregulatory efforts in American history, such as the deregulation of airlines and trucking that began during the Carter administration, did not have such large aggregate effects,” the Council of Economic Advisers report says.
The aggressive deregulation also cuts consumer prices for prescription drugs, health insurance, and telecommunications, removes mandates from employers, and eliminates rules keeping small lenders from the marketplace, the report says.
The report talks about the hidden costs of regulations.
“The ongoing introduction of costly regulations had previously been subtracting an additional 0.2 percent per year from real incomes, thereby giving the false impression that the American economy was fundamentally incapable of anything better than slow growth,” the Council of Economic Advisers report says. “Now, new regulations are budgeted and kept to a minimum.”
The report says prescription drug prices have long outpaced inflation, but in the last two years, price hikes fell by more than 11%, and even below inflation. It says that in 2018, prescription prices, “even declined in nominal terms over the calendar year for the first time since...
Trump may have to invoke ‘Insurrection Act’ to protect the country after another Obama judge blocks his border wall construction
On Friday, a federal judge appointed by Barack Obama issued a permanent injunction against the administration, blocking President Trump from using Defense Department funds for border wall construction.
U.S. District Judge Haywood Gilliam of the 9th Circuit “had previously issued a temporary injunction after President Trump issued a national emergency and announced that he would use Defense Department funds to build the wall and secure the southern border of the U.S.,” The Gateway Pundit reported.
Adding insult to injury, TGP noted further that Gilliam was a regular financial donor to Obama’s two campaigns, according to FEC records.
Also, “Gilliam donated additional funds to Obama’s re-election campaign, sending $13,500 to Obama for America and Obama Victory Fund 2012. He also donated $4,500 to the Democratic National Committee. From 2012 to November 2014, he sent $3,100 to the Covington and Burling LLP PAC,” according to a report from The Epoch Times.
Clearly, this is another politicized decision from the Judicial Branch, which should not have any say whatsoever over the Executive Branch’s decision to allocate otherwise unallocated funds for whatever purpose the administration chooses, especially during a declared national emergency.
In May during a speech, Attorney General William Barr said such nationwide injunctions are not only improper but also “undermine the democratic process, depart from history and tradition, violate constitutional principles, and impede sound judicial administration.”
Also, as the Washington Examiner reported:
A New York University Law Review paper in October 2017 listed many practical problems with such injunctions, and its key point was that they violate constitutional principles, undermining “the structural design of the federal courts by allowing a single lower court to make nationwide law.”
It may be time for the president — and we don’t say this lightly — to supersede these rogue federal judges and simply exercise the authority the Constitution grants him, and let the chips fall where they may. The Supreme Court could reign in these districts courts and force them to refrain from issuing unconstitutional nationwide...
The 90 Miles Mystery Box: Episode #668
You have come across a mystery box. But what is inside?
It could be literally anything from the serene to the horrific,
from the beautiful to the repugnant,
from the mysterious to the familiar.
If you decide to open it, you could be disappointed,
you could be inspired, you could be appalled.
This is not for the faint of heart or the easily offended.
You have been warned.
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