Monday, October 16, 2017

The Trump Effect: Record High Stock Market And Consumer Sentiment!

Update From The National Diversity Coalition for Trump

When the markets closed on a record high Thursday, the Wall Street Journal confirmed that it was the longest streak of record closes in twenty years!
According to a University of Michigan survey reported in Bloomberg news: "U.S. consumer sentiment unexpectedly surged to a 13-year high as Americans’ perceptions of the economy and their own finances rebounded following several major hurricanes."
  • The sentiment index rose to 101.1, highest since Jan. 2004!
  •  The current conditions gauge, which measures Americans’ perceptions of their finances, jumped to 116.4, highest since Nov. 2000!
  • The survey’s expectations measure increased to 91.3, highest since Jan. 2004!

GREAT things are happening in our country and in our government.  



OMB Director Mick Mulvaney was on CNN this weekend, correcting the record on CSR payments. His full interview is here, but among the highlights:  

  • CSR payments are not payments to “folks” or to “constituents” but to billion dollar insurance companies:
    • “If you follow the money here, which is what we do at the Office of Management and Budget, are checks from the Treasury to some of the largest health insurance companies in the country… This was not a subsidy to you or me or anyone else.”
    • “I cannot believe that Nancy Pelosi was just on your screen there defending bailout payments to large corporations. Typically the Democrats are against that.”
    • “The President doesn't want to write a check of your and my tax money to these large health insurance companies that are making hundreds of millions of dollars.” 
  • But don’t CSR payments keep premiums low for individuals? Nope. Insurance companies are contracted by law to keep premiums at certain levels:
    • “And those companies are already required by law to keep the premiums at a certain level. What this was, was essentially a pay-off to the insurance companies to support Obamacare in the first place back if 2009/2010.”
  • Moreover, the insurance companies had already priced-in the risk of losing CSR payments:
    • “Most of the insurance companies who filed their proposed rates for next year have already assumed these payments are not being made. There is not going to be any additional [premium] increase.”
  • Not to mention the payments are UNCONSTITUTIONAL in that they were never appropriated by Congress:
    • “The Department of Justice came out with a letter earlier this week, said they can no longer defend the Obama position these are legal payments and we had to stop them.”
  • It’s not that the President wants Obamacare to fail, the fact of the matter is, it is failing:
    • “I think the president, along with most of us, know that Obamacare is failing on its own and didn't need any help to do so. We've made this decision because it was bad policy.”
  • “On health carethe President's interested in making this system better. We call that repeal and replace. It's what we want to do. If anybody wants to help us do that, that's fine.”
  • In the meantime, the President signed an Executive Order this week which will help lower premiums and bring back choice within the marketplace
    • “The president took sweeping actions to lower premium for millions of Americans. The Associated Health Plans, the short-term limited plans, other things we're doing in the executive order will dramatically lower problems on folks.”

Make America Great Again!
Darrell Scott - CEO
Michael Cohen - Chair
Christos Marafatsos - Vice Chair
Bruce LeVell, Executive Director
National Diversity Coalition for Trump