Category Archives: Economics

‘Trumpcare’ part the infinity to be unveiled today – kill this bill

The Senate Tea-Publicans’ draft Obamacare repeal bill — “Trumpcare” part the infinity — is due to be released today at 11:30 a.m. , according to GOP senators and aides.

“Trumpcare” part the infinity will tentatively include a controversial amendment from Tea-Publicans Mike Lee and Ted Cruz (“the most hated man in the Senate”), according to sources familiar with the matter. POLITICO reports, Senate GOP’s new health care bill expected to include controversial Lee-Cruz amendment:

Senate Majority Leader Mitch McConnell will unveil the bill on Thursday morning at a closed-door, members-only meeting. It is also expected to eliminate tax cuts for the wealthy, include new financial support for low-income people’s insurance, allow people to pay for insurance with pre-tax money, and include billions more to fight opioid addiction.

The amendment from Cruz and Lee will be tentatively included, those sources said, and could be altered or removed later. The amendment would allow the sale of cheap, deregulated insurance plans [“junk insurance”] as long as Obamacare-compliant plans are still sold.

Some Republicans worry that could result in split risk pools, one with sick people with pre-existing conditions and the other with healthy young people. Cruz and Lee argue it will likely lower premiums and allow people to opt out of Obamacare.

The Congressional Budget Office is analyzing two versions of the bill, one with the amendment and one without. That score is due Monday. The Lee-Cruz amendment will be in brackets on Thursday, indicating it is subject to change.

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Action Alert: Final push to defeat ‘Obamacare’ repeal and ‘Trumpcare’ replacement

Tea-Publican leaders are frantically pushing for a vote on the Senate’s ailing “Trumpcare” bill next week. Evil GOP bastard Mitch McConnell is racing to placate warring moderates and conservatives with a new draft due within days, POLITICO reports. GOP struggles to revamp ailing Obamacare repeal bill:

New bill text could be unveiled to senators as soon as Thursday, according to sources familiar with the proposal. A Congressional Budget Office score is likely to follow as soon as next Monday.

“My gut assessment is we need to start voting. … We need to get started, and the goal continues to be to do that next week,” said Senate Majority Whip John Cornyn (R-Texas). Pressed on whether his party will be successful, he said: “I never want to fight to lose. I want to fight to win. And that remains the goal.”

Senate Republicans have offered increasingly dour assessments of the bill’s prospects due to a push from conservative Sens. Ted Cruz of Texas and Mike Lee of Utah to drag the bill rightward and distaste from more moderate senators for future Medicaid spending cuts. Sen. John McCain of Arizona predicted Sunday the effort would be “dead,” yet Cornyn said he feels “pretty good about where we are.”

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June jobs report rebounds

Steve Benen has the June jobs report. Job growth picks up steam as spring turns to summer:

Monthly job growth was a little underwhelming as 2017 got underway, leading to questions about when we might see more robust numbers. Apparently, we now have an answer.

The Bureau of Labor Statistics reported this morning that the U.S. economy added 222,000 jobs in June, which is a very healthy total. The unemployment rate, meanwhile, inched higher to 4.4%.

June Jobs

As for the revisions, the totals for April and May were both revised up, and combined they show a net gain of about 47,000 jobs.

Above you’ll find the chart I run every month, showing monthly job losses since the start of the Great Recession.

Here’s another chart, this one showing monthly job losses/gains in just the private sector since the start of the Great Recession.

June Private
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7 Reasons Why Bruce Wheeler Can Beat McSally

Among all the candidates running for Congress in Tucson, no one but Bruce Wheeler can say that he’s been elected three times from the district. That is the #1 reason that he can beat Martha McSally.

“I understand the district,” he said at a home reception in my own Precinct 238. “This is the district where Hillary won by 15,000 votes.”

Indeed, Wheeler was a state representative for Tucson from 1975-1977, a Tucson City Council member from 1987-1995, and state representative again from 2011 to 2017.

This gives him name recognition, which will be backed up by a door-to-door initiative and a social media campaign. Wheeler knows how to win elections.

It also gives him a leg up on other candidates like carpetbagger Ann Kirkpatrick – who has the backing of the Democratic Congressional Campaign Committee (DCCC) and ex-Congressman Ron Barber  – and candidate Mary Matiella, who has the backing of Bill Roe, the First Vice Chairman of the AZ Democratic Party.

2. McSally is vulnerable this year, especially because she voted against health insurance for 22 million Americans. “I am absolutely convinced she will be defeated,” Wheeler said. “She is an enabler for Donald Trump’s policies.”

Wheeler favors Medicare for all.  Continue reading

Senate ‘Obamacare’ repeal is delayed, evil alternatives are proposed (updated)

The original plan of evil GOP bastard Mitch McConnell was to have the Senate pass its version of “Trumpcare” by Friday and then go home for the July 4th recess.

As Robert Burns said, “The best laid schemes of Mice and Men oft go awry, And leave us nothing but grief and pain, For promised joy!

McConnell wasn’t giving up. McConnell is trying to revise the Senate health-care bill by Friday: Senate Majority Leader Mitch McConnell is aiming to send a revised version of his health-care bill to the Congressional Budget Office as soon as Friday as he continues to push for a vote before Congress’s August recess.

Oooh, missed it by that much! No GOP deal on health care expected this week as Senate leaves town:

Senate Republicans cautioned Thursday not to expect a final agreement on health care reform bill by Friday, despite a push by GOP leaders and the White House to get by then a framework of a deal that can pass the chamber.

“We’ve made good progress, and we’ll keep working,” said Senate Majority Leader Mitch McConnell, who has spearheaded talks over the contentious bill that he was forced to pull off the floor earlier this week, acknowledging a deal remains elusive.

Republican leadership aides told CNN intra-party negotiations over the complex bill are still generating new proposals that are regularly being sent to the non-partisan Congressional Budget Office for analysis and that process would continue over the weeklong July 4 recess.

A deal cannot be finalized until that CBO scoring takes place and the Senate parliamentarian reviews the language to ensure it fits the strict reconciliation rules being used to pass the bill without the threat of a filibuster.

Aides to McConnell insist the Kentucky Republican never imposed a hard Friday deadline for an agreement. Bullshit! You failed, Dude!

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Across the Arizona border

Arizona’s merchandise exports to Mexico totaled $1.87 billion for the first quarter of 2017, a decline from the $2.04 billion reported for first quarter 2016. Among the states, Arizona ranked fifth in first quarter 2017 exports to Mexico, behind Texas ($58.2 billion), California ($6.2 billion), Michigan ($3.2 billion) and Illinois ($2.3 billion). Despite the political ambiguity created by the Trump administration, estimates of Mexico’s 2017 economic growth rate have continued to inch up. Mexico’s economy is projected to grow by 1.9% in 2017. By way of comparison, the economy of the United States is expected to grow 2.2% during the year.

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