‘A Little Disturbance’

In his speech before Congress, President Trump said his policies may cause some disturbance, "but we’re okay with that.”

Good Morning!

Here are today’s highlights:

• “What we are not hearing,” said the head of a shipping company, “is, ‘I brought my production back to Kentucky.’”

• The Wall Street Journal suggests the economy may be headed for a “ministagcession.”

• Michael Bice of Vortex Engineering thinks the owners on our latest podcast did too much whining and not enough strategizing.

• Alan Pentz explains how he almost went broke despite record profits.

THE SPEECH

President Trump promises the short-term pain will be worth it: “President Trump, in his address to Congress Tuesday, celebrated the whirlwind of changes he has brought to the federal government. His success from this point on will depend largely on whether Americans believe the unease caused by his speedy actions—an unsettled stock market, a trade war with allies, and uncertainty over the extent of federal job and spending cuts—will lead to the American renewal he promised. In making his case, Trump suggested that a return to ‘the golden age of America,’ while underway, would take time to complete. He acknowledged that prices remain high, singling out the cost of eggs, and twice in his speech said his tariffs could cause short-term pain. ‘There’ll be a little disturbance, but we’re okay with that,’ he said.”

• “Some of Trump’s top goals rely on his ability to keep his party unified. A large tax-cutting plan has broad GOP support, but its potential to raise the federal deficit or require cuts to the popular Medicaid program, which supplies health insurance for roughly one in five Americans, has rattled some in the party.”

• “Trump in his speech repeated calls to extend the tax cuts for individuals he signed into law in his first term and which expire this year, as well as to end federal taxes on tips, Social Security benefits, and overtime. The tax cuts Trump and his party want are far larger than the savings they expect to identify through budget cuts.” READ MORE