Call me a
skeptic, cynic, or disbeliever…or something worse if that makes you feel
better.
But the more I think about what we should expect from the Trump
White House in 2017, the more I’m convinced that there are 5 things we
definitely shouldn’t anticipate seeing very often, and perhaps not at all.
Press Conferences
There seems to be some common wisdom that President Trump will do
what candidate Trump more or less didn't: hold press conferences that allow
reporters to ask him questions.
I doubt it.
Holding regular press conferences would mean the Trump
administration would be validating the importance, role and value of the
mainstream (or is it “the liberal”?) media. That would be abhorrent to many of
those who supported him during the campaign.
Press conferences would also expose Trump to potentially
embarrassing and politically damaging questions on a wide-range of issues that
he’s probably not prepared to answer in any detail given his very limited
policy experience and notorious aversion to preparing.
Most important,
A 2018 Budget
I first posted about this a month ago when I explained that there is a rumor – and
it’s still just that – that Trump may not be planning to submit a fiscal 2018
budget to Congress this year.
There’s still no confirmation about what's in the works, but I’ve
now heard from several others involved with the budget process (but not the
transition team) that no Trump 2018 budget is a possibility.
Trump’s delay in nominating a director of the Office of Management
and Budget was an indication last month that submitting a budget might not be a
high priority. The OMB slot has now been filled, but another key budget post –
chairman of the Council of Economic Advisers – remains open.
And it still makes political sense for Trump not to submit a
budget. Congress will be swamped with doing 2 budget resolutions and
reconciliation bills, fiscal 2017 and 2018 appropriations and an increase in or
suspension of the federal debt limit; it doesn't need and may not have time to
hold hearings on a Trump budget. Plus, Trump submitting a budget could put him
on a collision course with the House and Senate on a variety of issues.
Honesty
Especially when it comes to any and everything having to do with
the economy and federal budget, I’m expecting
Expect everything from rosy economic scenarios that overstate GDP
growth and understate inflation to assumed-but-not-specified future spending
cuts. The goal will be to make proposals look much better than they really are
and to make it appear that budget law requirements are being met.
Taking Blame For Anything
Trump’s economic plan can’t work without lots of gimmicks and new
math. So what will Trump do if the economy doesn’t perform as well as his rosy
economic scenario expects? Because it couldn’t possibly be because his policies
were wrong, Trump will blame Obama and everyone else involved in the process
and make it clear that the methodology they’re using is wrong.
For example, I’m expecting verbal assaults on the Bureau of Labor
Statistics if it doesn’t report that unemployment has fallen as much as Trump
expects, and on the Congressional Budget Office if it estimates that proposed
tax cuts will increase the deficit by more than the White House thinks is
correct.
I’m also anticipating (to the point where I will be shocked if it
doesn’t happen) that Trump will blame the Federal Reserve and its interest rate
hikes for slower-than-projected economic growth. And it will be Wall Street’s
fault if financial markets don’t soar as promised.
Consistency
At least on the budget deficit and national debt, I'm anticipating
a complete 180 degree reversal from the Republican policies of the past.
0 comments:
Post a Comment