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Economy

Trump gives China “great credit” for “taking advantage” of U.S. on trade

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Trump gives China great credit for taking advantage of US on trade

From the day Donald Trump announced his candidacy for the presidency up until election day, he railed against China for taking advantage of the United States economically. His push for “fair trade” even changed the long-standing Republican paradigm of free trade.

As President on his first trip to China, his tune has changed. He still believes that China takes advantage of the United States on trade, but he doesn’t blame them. In fact, he gave China and President Xi Jinping great praise.

“I don’t blame China. After all, who can blame a country for being able to take advantage of another country for the sake of its citizens?” he said shortly after signing non-binding business deals worth $250 billion. “I give China great credit.”

It has been a common aspect of the President’s modus operandi when dealing with U.S. and world leaders to be cordial and complimentary towards them when with them or talking to them directly, then returning to negative rhetoric later. This was most clear in his dealings with Mexican President Enrique Pena Nieto.

While the business deals were positive notes for these initial meetings, the topic of North Korea was more severe. Trump called on China to cut economic ties in an effort to make them halt their nuclear weapons program. He said the Chinese President could “easily and quickly” resolve the situation through pressure as the biggest ally to North Korea.

“I know one thing about your president, if he works on it hard, it will happen,” Trump said while addressing the crowd at the signing ceremony. Following light chuckles from the crowd, he added, “They know.”

Further Reading

Trump does not blame China for ‘unfair’ trade

http://www.bbc.com/news/business-41924797The total trade relationship between the pair was worth $648bn last year, but trade was heavily skewed in China’s favour with the US amassing a deficit of $310bn.

While still characterising the relationship as “very unfair” and “one-sided”, Trump said on Thursday that China was not at fault, instead blaming previous US administrations.

Economy

The number of companies helping employees thanks to tax cuts is 164 and rising

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The number of companies helping employees thanks to tax cuts is 164 and rising

Republican tax cuts were met with instant success on the business front when the President signed them into law last month. Companies across the nation rewarded their employees and customers by passing on some of the saving they’ll get. It’s helping to push the economy even higher than it was last year.

As Nick Givas covered over at Daily Caller, the total number of companies giving back to their people is 164 and rising:

164 Companies Credit Tax Reform For Bonuses And Pay Raises

One hundred sixty-four companies have gone on record stating they gave bonuses and pay raises to employees because of the new tax reform law, according to Americans for Tax Reform. The list has been continually updated and jumped from 40 companies to 164 in 10 days, The Washington Examiner reports. The businesses include: American Airlines, AT&T,… (more…)

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Democrats

With both sides wanting more spending, Wednesday’s government funding discussions end in a stalemate

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With both sides wanting more spending Wednesdays government funding discussions end in a stalemate

There was no movement Wednesday as top Republican and Democratic leaders met at the White House to lay down their ultimatums for funding the government. With two weeks of funding still allotted, neither side seemed to be in a hurry to compromise.

One of the main sticking points was purely political. Democrats wanted something written into the spending agreement that would give certain guarantees to “Dreamers” who they say are having their futures jeopardized by President Trump’s rescinding of President Obama’s DACA executive order. This is purely for show to try to win back some of the Hispanic voters they lost in 2016 and into 2017. With the President showing more compassion for “Dreamers” than anticipated by preemptively demanding that Congress put together a permanent fix, Democrats needed to regain ground and act as if they’re the ones fighting on behalf of illegal immigrants.

Republicans were equally theatrical with their opposition to such an addition to the funding agreement, claiming they wanted to first fund the government, then address DACA before the March deadline. They could just as easily allowed something in the funding agreement, knowing they’re going to pass some variation of amnesty in the next month and a half, but instead chose to draw the red line.

The more alarming sticking point in the funding deal is that both sides want to spend more and are actually leveraging the other side’s spending increases to negotiate for spending increases of their own. Republicans want to raise defense spending. Democrats are opposed unless they can raise non-defense spending as well. In the end, it’s very likely that this “impasse” will result in both sides getting what they want: move spending across the board.

Further Reading

No spending deal after GOP, Dems meet with White House officials Wednesday

http://www.washingtonexaminer.com/no-spending-deal-after-gop-dems-meet-with-white-house-officials-wednesday/article/2644897“It is important that we achieve a two-year agreement that funds our troops and provides for our national security and other critical functions of the Federal government,” the White House, House Speaker Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R-Ky., said in a joint statement. “It also remains important that members of Congress do not hold funding for our troops hostage for immigration policy.”

“We’ve been clear about these budget priorities from the beginning and hope that further discussions will lead to an agreement soon,” they added.

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Economy

Leon H. Wolf on both major parties growing government and budgets

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Leon H Wolf on both major parties growing government and budgets

Leon H. Wolf, managing editor at The Blaze, is a big fan of limited government. Unfortunately most Republicans and all Democrats on Capitol Hill tend to favor expanding government. It’s no wonder Wolf is opposed to the way leaders in the two major parties are attempting to fund government.

In a recent article, he went after the parties and the whole process being initiated with the new year. One line in particular is worth highlighting:

“It should be noted that almost no one in either branch of government on either side is attempting to actually reduce the size of the government or its budget.”

Source: The Blaze

Republicans and Democrats open 2018 by arguing over how much to grow the size of government

http://www.theblaze.com/news/2018/01/01/republicans-and-democrats-open-2018-by-arguing-over-how-much-to-grow-the-size-of-governmentAs the holiday season comes to a close, Republicans and Democrats are opening the new year by resuming debate over a measure to fund the government through the end of 2018. The two sides failed to reach a compromise before the end of the year on such thorny issues as protection for Deferred Action for Childhood Arrivals (DACA) recipients and funding for a wall on the southern border. But in addition to these sticking points, the two sides also appear to disagree over exactly how much the government should grow.

According to Reuters, the White House is pushing for massive increases in military spending along with a 7 percent increase in overall non-discretionary non-military spending, while Democrats are holding out for an 11 or 12 percent increase in non-discretionary spending.

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