Category Archives: Heller

Heller’s Tele-Somethings Redux

Senator Dean Heller is fond of his Telephone Town Halls, which, as we’ve noted previously are more telephonics than town halls.  [Here, and especially here]

Perhaps he’s addressed the transparency problems associated with his previous telephone conference calls, but maybe not:

“Senator Heller has employed this one in the not so distant past.  It goes like this.  Have a telephone conference call from which questions are solicited from the public.  However, the fog descends almost immediately. Are the questions pre-screened?  There’s no way to know with absolute certainty, but someone has to be taking the calls like a radio call-in broadcast so chaos doesn’t happen.  Thus, it isn’t too hard to imagine that some pre-screening is happening.

These town halls can also be re-cycled.  The contact with the constituent begins with “You are invited to participate in Senator Sludgepump’s telephone town hall. If you have a question for the Senator press (number) and give your name and address…)

It doesn’t take too many conversations to figure out that if Constituent A heard the town hall on Monday evening, and Constituent B heard the same town hall on Tuesday evening, then we can assume people have been listening to a canned recycling of a political campaign pitch.  Hardly a town hall.”

Therefore, a person would be excused from being a little skeptical about the current iterations of Senator Heller’s open mic nights.   Thanks to the Nevada Independent we have a taste of the latest town hall:

“Asked why he supported Trump after the president reportedly called some African nations, Haiti and El Salvador “s**hole” countries, described his forceful sexual advances in an Access Hollywood tape and called outlets such as the BBC “fake news,” Heller told the caller that she probably supported Democratic presidents with similar problems.”

This is nothing more than a thinly disguised “kill the messenger” motif.  Don’t like the message, then play the Whataboutit” card — what about Clinton (inserting the foil of the day) to which one might add what about — Grover Cleveland? Warren G. Harding? Franklin D. Roosevelt?    Thence comes the exceptionally vague pivot:

“What I’m trying to do is get issues done. That’s what I’m looking for is what’s best for the state of Nevada, and whether I’m standing behind the president or whether I’m standing in right field, it doesn’t matter. Literally doesn’t matter.”

I’d assert Senator Heller is, indeed, standing out in right field, but that’s beside the point.  One unfortunate way to translate this Hellerian side step is to assume he means that no matter the moral depravity of the occupant of the White House Heller will support anyone who advocates what Heller believes is in the best interest of the state of Nevada.

The problem is that the reprobate in the Oval Office doesn’t have any clear ideological principles.  How Heller can divine precisely what the administration’s position is on any given topic is beyond most analysts.  We might guess that the administration proposals on immigration range from “a bill of love” to “build a wall.” We might guess that the issues related to banking run the gamut from “take care of the middle class” to “let bankers be bankers.”  And so on.

It should matter to Senator Heller, and to any other citizen of Nevada (and the other 49) whether or not the administration has the moral fiber necessary to inform the proposed policies.  Moral fiber tends to filter out the self-serving, the grifting, and the unconscionable — without the filter there’s little space left for anything other than the moral relativism of pure opportunism.  Surely this is not what Senator Heller has in mind?

 

 

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Heller’s Money

Senator Dean Heller is leading in one category.  He’s leading in the Money From Leadership PAC’s race collecting a total of $314,750 from those entities. ( OS, 9/30/17 report)

From the Department of Absolutely No Surprises, he reported taking in $414,867 from PACs associated with the Securities and Investment industries.

The next FEC filing deadline is January 31, 2018 at which time we can start tracking the trends of Senator Heller’s fund-raising, and see if he maintains his lead in the Leadership PAC money race.

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The Great Bamboozle: GOP Tax Plan Targeted Right At the Middle Of The Top 1%

There are some amazing feats of verbal legerdemain going on as Republicans try to explain why their Jam It Through Tax Plan isn’t a real bag of snakes.

Oh, don’t worry about our plan…people want to see an improving economy…people want to see more in their paychecks…now 90% of the people can file a simple return…there’s a lot of wishful thinking going on here, and most of it is wrong.  The political advertising is going to write itself in 2018.

Senator Maria Cantwell (D-WA) is correct to say that “haste makes waste,” and in its haste the GOP is about to unload both barrels into their own feet.

The tax cuts will explode the debt.  Remember all the times the GOP told us that debt is a problem?  It certainly can be.  When there was a Democrat in the White House the Heritage Foundation positively screamed about the impact of increasing the national debt:

Current and projected increases in government debt, cutting into future economic growth rates, also mean slower future growth of government revenues. Even as future interest expense rises as taxpayers are called upon to service all this debt, growth in government revenues will slow, leaving less available for other priorities, such as national security and economic security, education, and innovation-driving research.

The only difference now is that the accumulated deficits will be driven by a Republican penchant for rewarding the investor class with amazing tax cuts.  Now the argument is reversed: there will supposedly be More revenue, More innovation, More funds for national security and research.  No there won’t. And we don’t need to kid ourselves, because the same basic economic elements are going to underpin the new tax/budget structure that are girding the current one. 

Nothing in the tax bill reverses the current emphasis on short term gains. The GOP is fond of pointing to gains in the stock market as “proof” of its stewardship of economic growth.  There’s an obvious problem with this, as noted by the Chicago Tribune:

Nearly half of country has $0 invested in the market, according to the Federal Reserve and numerous surveys by groups such as Gallup and Bankrate. That means people have no money in pension funds, 401(k) retirement plans, IRAs, mutual funds or ETFs. They certainly don’t own individual stocks such as Facebook or Apple.

So, nearly half the population has Zilch invested in The Market. What about the others?  While people don’t generally have elephantine memories, 2008 isn’t that far in the rear view mirror, and that’s part of the reason about 54% of Americans have some sort of investments, as opposed to the 62% prior to the Big Crash of 2007-08.

Further,  there’s some recent research indicating the decline isn’t over.

Rosenthal and Austin’s main focus was the precipitous decline of taxable investment accounts. In 50 years, the amount of stock owned by individual investors and funds outside retirement and nontaxable accounts such as 529 college-savings plans has dropped off a cliff — to about 25% in 2015 from over 80% in 1965.

But wait, there’s more:

The other startling finding was the growth in foreign investment in the US stock market. What was once a small sliver of the makeup now accounts for a quarter of all stock ownership at $5.5 trillion. Part of this may be due to increasing wealth in foreign countries, but, as the researchers noted, it could also be influenced by corporate inversions, in which foreign-domiciled firms have large direct holdings of US-based stock.

So, we have a structural situation in which the percentage of individual investors is declining precipitously, the percentage of institutional investors is increasing, as is the percentage of foreign investors.   It doesn’t take much effort to perceive that the produce of stock market gains aren’t going to benefit most Americans, but should assist institutional and foreign investors.

But surely those institutional investors will be looking for long term investment prospects and will act as a curb on short term pursuits as exemplified by hedge fund operations?  Nupe.  That part of the structure hasn’t changed either.  It’s not happening:

Across the world, a clamor is rising against corporate short-termism—the undue attention to quarterly earnings at the expense of long-term sustainable growth. In one survey of chief financial officers, the majority of respondents reported that they would forgo current spending on profitable long-term projects to avoid missing earnings estimates for the upcoming quarter.1

Critics of short-termism have singled out a set of culprits—activist hedge funds that acquire 1% or 2% of a company’s stock and then push hard for measures designed to boost the stock price quickly but unsustainably. 2 The typical activist program involves raising dividends, increasing stock buybacks, or spinning off corporate divisions—usually accompanied by a request for board seats.

If corporations increase profitability I am hearing, “raising dividends, increasing stock buybacks, and mergers, acquisitions, and spin offs.  I am NOT hearing investment in plant expansion, workers’ wages, and company benefits.  And, I’m certainly not hearing anything about encouraging the promotion of taxable investment accounts, the kind that  puts revenue into the Nation’s coffers.

Nothing in the tax bill addresses wage stagnation.   And, no, this is not a myth:

“After adjusting for inflation, wages are only 10 percent higher in 2017 than they were in 1973, with annual real wage growth just below 0.2 percent.[1] The U.S. economy has experienced long-term real wage stagnation and a persistent lack of economic progress for many workers.” […] ” The portion of national income received by workers fell from 64.5 percent in 1974 Q3 to 56.8 percent in 2017 Q2.”

Ouch.  Somehow, the Growth Fairy is supposed to be so enamored of tax cuts for corporations and wealthy individuals that more greenbacks will float down and squirm into the pay packets of average American workers.  Probably not, and putting more dollars into the pockets of institutional investors — foreign and domestic — isn’t going to be all that helpful either.  So, not only does the tax plan not address short term-ism, it doesn’t really address paycheck issues either.

But Wait! How about increasing the child tax credits and standard deductions?  It’s no secret that those people earning $75,000 or less aren’t going to be the big winners in this tax bill.  “The tax bill Senate Republicans are championing would give large tax cuts to the rich while raising taxes on American families earning $10,000 to $75,000 over the next decade, according to a report released Thursday by the Joint Committee on Taxation, Congress’s official nonpartisan analysts.” [WaPo]

But, but, but…Your tax filings will be simpler!  Simple doesn’t matter if you aren’t getting your taxes cut.  And, if the tax preparation deduction is eliminated then there are going to be some mom and pop franchises in serious straits — those just happen to be local small businesses as well.

But, but, but…jobs won’t go overseas!  You can only dream.  The arguments get a bit into the economic weeds, into territorial taxation, but the bottom line is clear:

This might seem like a small difference, but the design of their global minimum tax creates perverse incentives for companies to offshore jobs and shift profits to tax havens—outcomes that a per-country minimum tax would avoid.

Perverse indeed, especially if one expects the new tax plan to provides incentives for companies to expand operations domestically.  Nothing in this plan actually and directly promotes domestic expansion in the economy — it’s all indirect and absolutely hopeful, perhaps even illusory if not downright delusional.

In the meantime, Medicare will be facing cuts of about $25 billion.  There will be calls to “reform” Social Security” in order to reduce the debt — translation: Higher requirements for fewer benefits.  There will be calls to cut SNAP programs — not a drop in the bucket needed to fill the debt hole; and, educational funding — another squeeze on programs that actually help people eventually earn higher wages.

This won’t prevent Republicans like Nevada’s Senator Dean Heller from enjoying the passage of a “great tax cut,” while he hopes to high Heaven no one in the state notices cuts to Medicare, Medicaid, Childrens’ Health Insurance, and no one talks about increased premiums in the individual health insurance market.  Perhaps no one will notice that graduate students at UNR and UNLV are supposed to pay taxes on tuition waivers while they’re actually earning minimum wages for part time jobs?  No one will notice the reduction in home mortgage interest deductions?  No one will observe the reduction or elimination of deductions for major medical expenses — much of which will be out of the pockets of the elderly.

My guess is that Nevadans will notice.  The political ads may, indeed, write themselves.

 

 

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Filed under health insurance, Heller, Nevada economy, Nevada politics, Politics, Taxation

Whatever Happened to HR 3364? The Amazing Disappearance of the Russian Sanctions Law

On July 25, 2017 members of the House of Representatives voted 419-3 to pass the Countering America’s Adversaries Through Sanctions Act; and on July 27, 2017 the Senate voted to pass it 98-2.  [HR 3364]  This is about as close to “veto proof” as any bill is likely to get.  The President* signed it on August 2, 2017.  [Hill]  Thus, HR 3364 became PL 115-44.

“Per the legislation, the administration was required to issue guidance by October 1 on how it was implementing the sanctions against Russia. That process includes publishing a list of the people and organizations who will be targeted by the sanctions, which are primarily aimed at Russia’s defense and intelligence sectors.” [TDB]

Yes, it’s now October 25, 2017 and what have we heard about those published lists of people and organizations targeted for (among other things) cyber attacks on our election systems and democratic institutions?

About all that’s come from the Oval Office is “we’re working on it,” at the Treasury Department, State Department, and Director of National Intelligence…but that October 1 deadline is in the rear view mirror and members of Congress aren’t getting any answers.  Senator Lindsey Graham (R-SC) did the ‘aw shucks’ reaction last Sunday:

“The Trump administration is slow when it comes to Russia. They have a blind spot on Russia I still can’t figure out,” Sen. Lindsey Graham (R-S.C.) said Sunday on NBC’s Meet the Press. When asked what Congress could do to force the administration to act, Graham was vague, saying only: “The Congress will have a way to hold the president accountable.”  [TDB]

Perhaps the South Carolina Senator can’t figure it out, but it’s getting ever more obvious the President* is singularly unwilling to address anything even remotely critical of Russia and its klepto-dictator Putin. [see also VF]  A person might even think PL 115-44 has been sent to Siberia? That “blind spot” doesn’t seem to be going away any time soon. [MSNBC]

However, there is some evidence the administration is aware of the requirements of the sanctions bill, there simply isn’t a sensation of alacrity or urgency?

“Several recent actions suggest that the Trump administration is aware of the bill’s sectoral sanctions requirements. For example, on September 29, President Trump issued a presidential memorandum delegating “to the Secretary of State, in consultation with the Secretary of the Treasury, the functions and authorities vested in the President by” Section 231. Additionally, the administration has complied with other 60 day sectoral sanctions-related deadlines. For example, Sections 222 and 223 effectively codified and intensified pre-existing sectoral sanctions that had been imposed under Executive Order 13662. The government made the modifications that Section 223 required be done within 60 days on September 29. Moreover, although President Trump’s signing statement included a number of constitutional objections to specific provisions of the bill (including Section 222), Section 231 is not among them.”  [Lawfare]

There’s no great urgency demonstrated when a bill is signed on August 2, 2017 and the initial instructions don’t go out to the departments until September 29, 2017.  Section 231 (Russia) isn’t all that complicated, and more could certainly have been done to implement the provisions.

It isn’t often that every member of the Nevada congressional delegation votes in unity on any major piece of legislation, and it seems a shame that the President* hasn’t seen fit to move on this topic of important national interest.  Unlike the South Carolina Senator, I think we can guess why little action is taking place concerning Section 231.

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Filed under Foreign Policy, Heller, Lindsey Graham, Nevada politics, Politics

New Bull, Same Old Product: The Latest Incarnation of GOP Tax Cuts

For some reason, probably known but to the major donors of the Republican Party, “we” need a tax cut.  The rationale for this exercise echos the ubiquitous adolescent argument for automobile ownership — I need the car to go to work, I need to work to pay for the car.   In this instance, it’s argued that we need the tax cut to promote growth, and the growth to pay for the tax cut.  It’s the same old southbound product of a northbound male bovine we’ve heard so many times before.

Even the GOP assertions connect to this circuitous argument.  A tax cut, we are told, will promote economic growth — and Everyone will win.  Unfortunately, there’s no unanimous jury decision on this question.  First, there are some common methodological problems with altogether too many academic studies purporting to answer the question definitively.  Secondly, there are further issues intrinsic to discussion about how the tax cuts are to be offset.  Not all tax cut/reform proposals are created equal.

“The results suggest that not all tax changes will have the same impact on growth. Reforms that improve incentives, reduce existing subsidies, avoid windfall gains, and avoid deficit financing will have more auspicious effects on the long-term size of the economy, but may also create trade-offs between equity and efficiency.” [Gale, Brookings]

Therefore, if we step back and adopt the centrist conclusions of the Gale-Samwick Study quoted above, there appear to be some boxes to be checked off if the goal is to encourage long term economic growth, and one of those boxes calls for the avoidance of deficit financed tax cuts.

We are cautioned by Republican advocates that there are only two ways to reduce a federal deficit, either raise taxes or reduce spending.  The last iteration of a Republican tax cut, was not only deficit financed but the deficit was enhanced by the spending associated with the wars in Afghanistan and Iraq.  Since raising revenue by increasing taxation is anathema to Republican orthodoxy then there must be a reduction in spending.  Enter the proposals from the current Republicans to reduce Medicare spending by $472.9 billion over the next decade, and a further reduction of $1 to $1.5 trillion in cuts to the Medicaid program.

The current FY 2018 budget makes some assumptions which may be quickly frustrated. For example, the budget assumes no further military conflicts — the military expenditures assume readiness costs, not military operations; and, cuts to domestic expenditures  to a level not seen since the Hoover Administration.

If this sounds like the same old prescriptions from GOP decades past, there’s a reason for it which becomes obvious when the framework is examined.  What we have herein is NOT a new proposal for tax reform, but a recycling of ideas included in every recent Republican tax plan.

Cut the corporate tax rate from 35% to 20%.  As noted previously in this site,  there are several options available to corporations, none of which have anything to do with increasing employment or raising wages — share buybacks, dividend payments, mergers and acquisitions, corporate bonuses, management compensation, etc.  The GOP argument rests on the fluid assumption that corporations will reward the nation with more plant expansion, research and development, and rising wages — without a scintilla of proof this will actually happen.

The 25% (15%) pass through rate.  This purports to be a bonus for small businesses.  In the real world most small businesses are already paying this rate or rates even lower.  Consider the following evaluation of the Pass Through business:

“Finally, the top statutory rates and average effective rates mask substantial differences in what individual business owners pay in taxes. Most businesses are small, earn relatively modest income, and thus face relatively low bracket rates. As a result, more than 85 percent of pass-through businesses in 2014 faced a top rate of 25 percent or less; only 3 percent faced a marginal rate greater than 30 percent (Figure 6).[10] However, a much larger share of pass-through income does face high marginal income tax rates. Almost half of pass-through income in 2014 came from businesses with a top rate of at least 35 percent.  In other words, a small number of large pass-throughs are responsible for the vast majority of the sector’s tax burden.”  (emphasis added)

Consumer Warning: Beware of muddled conflation of pass through taxation with income from pass through businesses.  85% of small businesses are already paying low pass through rates, and the income is coming from a small number of very wealthy pass through businesses.  It doesn’t take too much imagination to figure out these are lobby shops, law firms, and other wealthy operations which bear little resemblance to small law offices and other independent businesses.

The Death Tax is Coming, The Death Tax is Coming.  I have no reason to believe that there won’t be one more “small business owner,” or one more family farmer, hauled into camera range at a GOP function who will have some tale of woe about inheritance taxation — or as I prefer to call it: The Paris Hilton Legacy Protection Act.   99.8% of all Americans don’t have to pay the estate tax, and such taxes as are paid are 40% of the excess above $5.45 million.   One other point might be made at this point, it’s not the heirs who pay the estate taxation if any is due — it’s the estate, via the executors.  But the major number here is 99.8%, the 99.8% of Americans who will see absolutely no benefit from this “tax cut” at all.

Eliminating the Alternative Minimum Tax, “which is intended to ensure that higher-income people who take large amounts of deductions and other tax breaks pay at least a minimum level of tax.”   Now, gee, if I could just see a certain President’s tax returns I could tell if he were liable for the AMT?  If I could be reassured that high profile NYC real estate developers, who take a spectacular range of deductions, might have to pay the Alternative Minimum Tax so they aren’t dodging their contributions almost entirely?  However, it’s been since May 20, 2014 since a certain presidential candidate said that if he decided to run for high office he’d release his tax returns — some 1,313 days ago…

In short, there’s nothing new here. It’s the same old south bound produce of a north bound bull.  Repackaged, with a new face in the Oval Office, and I remain convinced that two of our Congressional representatives, Senator Dean Heller and Representative Mark Amodei, will happily twist themselves into rhetorical knots trying to explain how cutting Medicare and Medicaid will benefit middle income Nevadans by pleasing the millionaires and billionaires among us.

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Filed under Amodei, Federal budget, Heller, income tax, Nevada politics, Politics, tax revenue, Taxation

Senator Heller’s Second Shot at Slashing Medicare and Medicaid

“This morning, the Senate Budget Committee will consider a resolution that instructs lawmakers to find ways to reduce Medicaid spending by $1 trillion (and Medicare spending by $473 billion) over the next decade, according to supporting documentation that Democrats are publicizing.” [WaPo]

Here’s the strategy: “A fast-track “reconciliation” process that would allow for tax cuts costing $1.5 trillion over ten years that require only a simple majority to pass.  The $1.5 trillion cost would not have to be offset by closing tax loopholes or ending unproductive tax breaks, and thus would add to the nation’s deficits, which are already growing as the baby boomers retire.  In addition, the resolution would allow the Senate Finance Committee to cut critical programs under its jurisdiction, including Medicaid, Medicare, and basic assistance for poor seniors and people with disabilities, and then use those savings to make the tax cuts even larger (so that the net cost of the tax cuts and the budget cuts combined equaled $1.5 trillion).  The reconciliation process is the same process that Congress tried to use to repeal the ACA and requires only a simple majority to enact law.”  [CBPP] (emphasis added)

And, there we have it: (1) If it’s a Republican budget, then adding to the federal deficit doesn’t matter; (2) in order to provide for tax cuts to the top 1% of income earners in the United States, the Committee can slash funding for Medicaid, Medicare, basic assistance for senior citizens, and people with disabilities.

The trick is that the Senate Republicans have to pass a “budget” slashing spending for those aforementioned Medicare and Medicaid beneficiaries, elderly people in poverty, and disabled people, in order to create ‘space’ for the “reforms” in their tax legislation.  The buck slashing needs to stop here.

Please contact Senator Dean Heller, and let him know that these are not Nevada priorities.

202-224-6244

702-388-6605

775-686-5770

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Filed under Health Care, Heller, Medicaid, Medicare, Nevada politics, Politics

Thank You Senator Corker

Hmm, never thought I’d begin a post on a liberal blog with “Thank you, Senator Corker.” But, here it is.  The Chairman of the Senate Foreign Relations Committee issued his now famous Tweet about properly staffing the Pennsylvania Adult Day Care Center, and followed up with a serious conversation including:

“The senator, who is close to Mr. Tillerson, invoked comments that the president made on Twitter last weekend in which he appeared to undercut Mr. Tillerson’s negotiations with North Korea.

“A lot of people think that there is some kind of ‘good cop, bad cop’ act underway, but that’s just not true,” Mr. Corker said.

Without offering specifics, he said Mr. Trump had repeatedly undermined diplomacy with his Twitter fingers. “I know he has hurt, in several instances, he’s hurt us as it relates to negotiations that were underway by tweeting things out,” Mr. Corker said.”

Simply airing these views is an act of civic responsibility, and if the Senator’s comments are accurate then there are more Republican Senators who hold these views; it would behoove them to chime in, even if only on the last few lines of the chorus.  We can imagine why we’ve not heard more voices.

The Republicans may now be victims of their own gerrymandered monster.  Those who break with the President may feel at risk of facing primary challengers.  However, a president with a 32% approval rating is not necessarily a creature to be feared.   That said, there are states in which the local politics could require senatorial and congressional candidates to pose close to the president, or at least could encourage it. Senators should recall that a Trump endorsement doesn’t insure election — ask Luther Strange in Alabama.

Senator Dean Heller (R-NV) has drawn a challenger who is (thus far) playing unabashed sycophant in the Trump parade, perpetual candidate for almost anything Danny Tarkanian.  (See also: Nevada Independent)

“I have so many people that are contacting me over the past couple months saying ‘you gotta run against Dean Heller,’ ” Tarkanian said. “They understand, as I do, that we’re never going to make America great again unless we have senators in office that fully support President Trump and his America first agenda.”

There are a few problems with that agenda.  If America first means America alone, then the President’s doing a fine job of that.  Right off the bat members of NATO got the message that Trump didn’t think all that much of Article 5, at least not enough to even mention it during a meeting concerning that important mutual defense clause.  Paris Accords — not even a treaty, but a mutual decision to follow voluntary self imposed guidance on climate change mitigation — and the US backs out.  When the President said he wouldn’t mind renegotiating the agreement the rest of the world’s nations said, thank you but NO we’re not interested.

We’re now in Round 4 of talks to renegotiate the NAFTA and the US Chamber of Commerce isn’t pleased with the administration’s demands, which border on protectionism (if they don’t ramble right into it).  As of two days ago the administration appeared poised to insert “deal breaking demands” into the bargaining process, some of which would seriously upset supply chains for the auto industry.  While there are certainly NAFTA provisions which might be improved, the current administration has proposed items which sound very much like the TPP provisions Trump opposed when he pulled the US out of those talks. [WaPo]

And then there’s North Korea.  While the remnants of the State Department (there are still a massive number of unfilled positions, many of which have NO nominees) try to tackle this problem, the President issues saber rattling tweets and undercuts his own Secretary of State.  [NPR]  It isn’t the least bit reassuring to hear informed comments like this when discussing the delicate and significant relations with the North Koreans:

“Without political appointments in place, governments in Asia and around the world are canvassing the Trump administration, trying to open lines to various advisors in the White House. And they’re getting mixed messages that are often hard to sort out.”

Oh, but wait there’s even more.  In addition to leaving our allies scrambling around at least since last August trying to find definitive answers to a chaotic foreign policy, they may also question whether our word means much of anything.  We need to recall that whatever Trump says, there are 6 nations involved in the Iran nuclear development containment deal and two of them aren’t happy: the Iranians and the Russians.  The Chinese government went on record in late September in support of the containment plan treaty, and three days ago the United Kingdom made its position clear in a medium Trump would understand (Twitter) “The Iran Deal is Working.”  The French foreign minister made a longer, but similar comment:

“It’s essential to maintain it to prevent a spiral of proliferation that would encourage hardliners in Iran to pursue nuclear weapons,” the minister told journalists in New York on the sidelines of this week’s UN general assembly.

French President Macron has also made his support for the agreement clear.  The German government has stated its support for a continuation of the agreement.   The P5+1 that signed the treaty could end up being the Chinese, French, Germans, Russians, and British vs. the US.  America “first” literally becoming America alone.

Senator Corker has a reputation for speaking carefully — all the more reason to listen to his warning.

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Filed under Economy, Foreign Policy, Heller, Iran, NAFTA, Nevada politics, Politics, Tarkanian