Sen. Corker's "Adult Day Care Center" Remark Is No Laughing Matteer

Sen. Bob Corker's reference to the White House being an "adult day care center" is no laughing matter. We all ought to be shaking in our waking boots with the madman moron in the WH.

The interview on 'All In' with Gabe Sherman last night sent shivers down the spines of any sentient beings. After collecting material from a number of journalists, as well as sources in the White House, Sherman reported that Gen. John Kelly's time has been monopolized by keeping tab on Trump - aka the Dotard - especially whether he puts his grubby paws on the nuclear football.  The skinny from WH sources is that Dotard is unravelling. He's more and more like a "kettle" and "if he doesn't let off steam" he can "explode". Their worry is that if he ends up defeated on all sides: no legislation to speak of, continued media jabs, prosecutions by Mueller, he will run to the football and punch in the nuclear codes.

As an earlier interviewed  defense strategist put it, "and there will be no way to countermand the orders".  So, in effect, we have the spectacle of Gen. Kelly not only trying to mind the deranged brat in the Oval Office but trying to ensure he doesn't go ape shit and carry out an ego-driven nuclear attack-  like the one envisaged by the fictional character "Greg Stillson" in the scifi flick "The Dead Zone".  (In the case of Stillson, after a muffed assassination attempt, halted when he held a baby aloft to protect himself - and which made the cover of 'Newsweek' - he blew his brains out.)

To the point, after a barrage of Trump insults delivered by his usual kindergarten- level tweets, Sen. Corker let the dolt have it.   In an interview with the New York Times later in the day, Corker said he was alarmed about a president who acted “like he’s on a reality show or something” – a reference to 'The Apprentice'  show Trump had once hosted.

Sen. Corker went on:

“He concerns me. He would have to concern anyone who cares about our nation,”.

Most ominously, Corker warned that Trump’s rhetoric and threats, especially toward North Korea, could set the nation “on the path to World War III”.

According to some sources in the WH cited by Gabe Sherman, Trump is on edge right now just itching to launch World War III to burn all his critics one time as well as the putative enemy Kim Jong Un who he belittles as "little rocket man".

But this is the nature of an unhinged asshole who has no business running a dog pound or landfill much less run a country.   Sen. Corker is among those, along with Rex Tillerson, who now grasp they have a guy in command who really needs to be in a straight jacket.   Tillerson  had called Trump a “fucking moron” and considered resigning,

In response to questions on the matter, Corker said: “I think Secretary Tillerson, Secretary [of defense Jim] Mattis and Chief of Staff [John] Kelly are those people that help separate our country from chaos.”

Asked if he was referring to Trump, he said: “[Mattis, Kelly and Tillerson] work very well together to make sure the policies we put forth around the world are sound and coherent. There are other people within the administration that don’t. I hope they stay because they’re valuable to the national security of our nation.”

Last week, Corker  made headlines when he implied that Trump was leading the US to the brink of “chaos”.    Then, after Dotard  accused Corker, who is retiring, of “not having the guts” to run for re-election, Corker tweeted: “It’s a shame the White House has become an adult day care center. Someone obviously missed their shift this morning.”

Many took this as a yuck yuck joke, but they shouldn't. Corker''s remark may have appeared humorous but was made in deadly earnest.  The White House with Trump in it IS an adult day care center. And while one wouldn't ordinarily have issues this day care center contains a "football" with the nuclear codes- which an unattended brat like Dotard could punch in on impulse if not minded properly.  This is currently Gen. Kelly's job so that Sen. Corker's reference was to him "missing his shift" the morning Dotard unleashed his twitter rant.

This is also why Corker was likely aware of the senior White House source who informed Gabriel Sherman that the Trump residency was now at the "lunge at the nuclear football stage".  If Gen. Kelly is the only one impeding that "lunge" then we are all in deep shit as captive citizens of this lunatic - and Kelly's competence in keeping him at bay.

Let's also bear in mind Dotard is on the verge of scrapping the Iran Nuclear accord.  Senator Corker is an important and supportive voice on the deal between Iran and six major nations including the U.S.,  that restricts Tehran’s pursuit of nuclear weapons. It was reported this week that Trump, against the wishes of senior advisers, will not re-certify the deal. That would put it in the hands of Congress, which would decide whether to re-impose sanctions, a move that would threaten the deal’s existence.

If this path is taken, make no mistake the repercussions will be far and wide. In particular it will show North Korea and Kim Jong Un that the U.S. word on any nuclear deals isn't worth an ounce of doggy lickspittle. So why would N. Korea agree to anything proffered by the Dotard administration?

Corker announced his decision to retire last month, saying:  “The most important public service I have to offer our country could well occur over the next 15 months,” he said, hinting at his opposition to the Dotard residency.  If he can help make more people aware of the danger the screwball in office poses, then it will be the most impressive public service he's rendered thus far.

Corker has also said he could oppose moves by Trump and congressional Republicans to pass tax reform, a priority after the repeated failure of attempts to repeal and replace the Affordable Care Act. Corker has insisted that any changes to the tax code must reduce the deficit. Trump’s plan would not only increase it but blow up the federal budget according to the Committee for a Responsible Federal Budget. That is, the federal debt as a percentage of GDP would explode through the roof - exceeding the size of the entire U.S. economy within ten years.

If Corker and allies can stop that, it will be another major check on this impudent, reckless administration.


See also:

http://www.smirkingchimp.com/thread/robert-reich/75684/is-trump-unraveling

Trump's Tax "Plan" - As Certain To Be A Disaster As TrumpCare

Even as the Donald's clueless dolt cheerleaders have fawned over his tax "reform" nonsense, e.g. Kimberley Strassel writing ('Making Growth Great Again', WSJ, Sept. 1, p. A13):

"The president formally opened the tax wars on Wednesday with his speech in Missouri challenging Congress to meet his principles for reform."

What "principles"?  This moron - who Sen. Bob Corker again reminded us yesterday isn't qualified for the job of president - doesn't know a principle from a pretzel.  For those who missed it, in his Missouri debacle he actually tried to sell the gathered working stiffs on corporate tax cuts which would ultimately "benefit" them.  Trickle down on steroids, in other words. From the assorted grunts and groans it didn't appear as if his spiel got very far.

Strassel, doubtless on another MJ edibles binge, babbled:

"His opening salvo has given Republicans the cover to push ahead, as well as valuable pointers on selling growth economics."

In fact, Trump's "salvo" gave Repubs a big reason to run for cover - given Trump knows no more about tax reform than he did about the details of health care.   Pointers on selling growth economics? How about pointers on selling more trickle down snake oil to make American workers even more impoverished? This bottom up flow of wealth coming as their bosses, companies reap the rewards while they rot. (See also my Labor Day post on the American worker kept on the productivity treadmill.)

Even the WSJ's straight (i.e. non op-ed distorted) account ('Trump Champions Tax Overhaul', Aug. 31, p. A3) noted:

"Although the president has called for doubling the standard deduction, the administration's vagueness on other tax provisions important to middle income households makes it hard to calculate how a typical family would benefit; he didn't offer any such details on Wednesday."

Of course he didn't because he doesn't KNOW any!  Even Repub political strategist Rick Wilson commenting on this latest fiasco Wednesday night, crisply observed that it was clear Trump didn't know the difference between tax reform and tax cutting.   Tax reform, for example, is always more complicated than mere tax cutting and entails not only tax code simplification but also offsetting different loopholes and deductions (e.g. the mortgage deduction) and their special interests, with the broader revenue and public interest (standard deductions, child tax credits, earned income tax credit etc.).    But Trump clearly has no clue because he doesn't know anything. The man hates to read and - if he does - only wants bullet points, confined to one piece of paper.

More alarming, Trump's playing at tax reform and growth economics could send the bond markets into perdition.  According to a recent WSJ piece (Sept. 2-3, 'Tax Plan Raises Red Flag For Bond Market' p. B1):

"Ironically, a tax revamp meant to boost U.S. competitiveness and bring overseas earning home may weaken a central pillar of the U.S. capital markets."

This is because any U.S. limits on interest write-offs would clearly diverge from similar policies in other wealthy nations. This would then prompt companies to shift borrowing to places where deductibility would remain in effect.   And let us point out here that many big corporations, like Apple, Microsoft etc. routinely borrow billions of dollars in the U.S. knowing that interest payments will lower their bills.

But as Matt King, a credit analyst at Citigroup Inc. points out:

"If you remove interest deductibility in one location and retain it in others , then companies will want to move their borrowing."

This then will adversely affect bond markets, sending them into turmoil.  According to Mr. King, removing interest deductibility would "create a strange and ironic echo of corporate inversion strategies in which firms move headquarters overseas but keep main operations in the U.S."

Add to that the fact an inevitable "debt boom" after the financial crisis has now driven the U.S. to be the largest bond market in the world.   As the WSJ piece notes:

"The U.S. bond market is almost triple the size  of the euro -corporate debt market."

Why is this bond debt so popular? Well, because it is cheaper than selling equity.

The danger is that as debt explodes and its manipulation gets out of control - say via Trump's insane top down trickle tax "plan", the bond markets could become as unstable as they were right after the credit meltdown in 2008. At that time it was credit derivatives that roiled the bond markets and sent stocks crashing, now it is companies borrowing with madcap bonds in anticipation of certain tax changes later- that may not come to pass.

In a way, the 2008 credit default swaps bets played the same role in destabilizing bond markets then that companies' free-for-all bond bets are now. Every company now it seems is going hog wild to make big bond bets in the hope of lowering tax bills. (Siemens AG has borrowed $21.25 billion in the U.S. investment grade market since 2015) But what if it all blows up? Can't happen? Don't be so sure. he WSJ didn't reference a "red flag" in its header for nothing.

Trump has no answers and can provide no details, any more than he could on tax provisions for middle income households. It isn't even clear that he knows whether his tax plan is "revenue neutral". If not, it basically blows up the federal budget according to the Committee for a Responsible Federal Budget. That is, the federal debt as a percentage of GDP would explode through the roof - exceeding the size of the entire U.S. economy within ten years. The debt incepted - in order to be even relatively controlled- would necessitate draconian cuts in every federal "entitlement" program including: Social Security, Medicare, Medicaid, Tricare, and all VA programs, departments. With such astounding debt there would be no "winners".  If this is a basis for "growth" in Kimberley Strassel's nomenclature, one wonders how she'd defines a financial disaster.

Indeed, if Trump's "plan" (as originally defined after the election)  really goes through, it would mean scrapping in turn: 1) the AMT or alternative minimum tax, 2) the estate tax and 3) the 3.8% surtax on investment income.  None of this even includes the proposed 20 percent cut in corporate tax rates.

If it does go through, your kids and their kids will basically have to work as indentured servants for the rest of their days. Oh, and forget about paying back any college loans.  The best job of all in such a new economic world order might be a Starbucks barista. (One who didn't take on college debt before landing the job).

This deformed plan is what Kimberley Strassel praises as "pro growth". It  may also  be the one for which Republicans are again hitching their forlorn "wagons" to  in the hope of emerging from the legislative wilderness.

Well, they had better look for another gig, or better, a more knowledgeable leader of their party!

Trump's "American Carnage" - Methinks He's Got The Wrong End oF the Stick

As Trump crouched this morning in an Episcopalian church  pew trying not to let his mug be seen at a "national prayer service"   nearly a million women - many in "pussy hats" - are ripping him to shreds as they march in D.C. - and around the world. Trump yesterday used a 16 minute speech to howl that "American carnage" is about to halt under his watch, careful not to tell his groupies he will be the major source of it.  So,  why not rip a page from Hitler's playbook and use others as scapegoats for what is about to befall the millions who blindly voted for him? Works every time, at least for a while.

Don't take my word, just think of the coming consequences as a result of his assorted appointments of "despicables" and the announced policy changes  To fix ideas, consider his tax proposals alone. He has demanded an "across the board" tax cut. It starts by increasing the current standard deduction of $12,600 (for joint filers) now, to $30,000.  These deductions, by the way, are what you use when you don't itemize.   At the same time, Trump would dump the $ 4, 050 write off claim for each member of a household, e.g. the "personal exemption". He also wants to simplify the tax code by changing from the current seven brackets - ranging from 10 percent to 39.6 % to just three brackets.

In addition, if he gets the help needed from congress, he will scrap in turn: 1) the AMT or alternative minimum tax, 2) the estate tax and 3) the 3.8% surtax on investment income - as part of abolishing Obamacare.  As regards the corporate tax rate he would lower it from the current 35 % (actually few businesses pay that rate, most are effectively 5%) and replace it with a 15 percent rate.  He has also floated the idea of applying this not only to big corporations but small business owners and the self-employed, including dentists, law partners, and Trump himself.

While all this sounds terrific in theory it carries a steep price tag, which you can get an idea of by studying the graphic at top. That is, the federal debt as a percentage of GDP would explode through the roof - exceeding the size of the entire U.S. economy within ten years. The debt incepted - in order to be even relatively controlled- would necessitate draconian cuts in every federal "entitlement" program including: Social Security, Medicare, Medicaid, Tricare, and all VA programs, departments. With such astounding debt there will be no "winners".

You want carnage? That's carnage - and it ain't coming from the global trade order but from Trump's own administration!

Then there is the soon to come painful loss of health care by 18 to 20 million Americans, nearly two thirds of whom voted Trump.  Many of these people still can't believe it, but mainly because they confused "Obamacare" which they pillory and mock - with the ACA - which they somehow think is different. Hence, not realizing the ACA ("Affordable Care Act") and Obamacare are one and the same.

At the heart of the Trump signing repeal is to get rid of the mandate, through which those who have more health issues can be covered by those with fewer. Once that mandate is removed then the protections of the ACA fall through. First among them will be that pre-existing conditions will now be reckoned into charges or whether people get insurance at all. Oh yeah, you may get "access" - but have to pay $200k a year to get it!  Then  there is the other negative that young people currently allowed on their parents' plans to age 26 will no longer be covered.  They'd have to pay for their own plan. And what is on offer? Well, according to Rand Paul: "those taken off the ACA can get a high deductible plan or use tax credits combined with a health savings account".

If you believe that doesn't spell c-a-r-n-a-g-e, think again!

Now, if you want REAL carnage, watch spellbound as Trump's minions in the EPA (like Scott Pruitt)  enable wholesale fracking around the country, including in national parks- and try to extract every last erg of oil from the ground. This will come on the latest NOAA and NASA reports that 2016 was the third hottest year in a row and making the planet the warmest it's been in 125,000 years.

Carnage? Oh yeppers, plenty! From power grids going down from overuse during extended heat waves, to ocean bacteria and plankton decimated, to the spread of tropical diseases like dengue fever and worm infestations, including of the brain. It is expected that before the first year of no seasons (est. 2040) more than 3 billion humans will bear worms in their brains. Alas, these will likely infect - with their larvae- as many Trump voters as others.

Trump insisted in his spiel he could repeal the global trade order by simple decree or his imperious say-so, but if any believe that they are fully delusional. It is not going to happen. Trump, rather than find scapegoats, would have done better to level with his followers that they all need to make common cause with the rest of us (non-Trump voters)  - to halt the climate nightmare unfolding and threatening everyone.

Sadly, Trump's ego and Id were too inflated to do that.  Hence, when Gloria Steinem addressed the D.C. crowd this morning she commented on Trump’s inauguration speech yesterday.:

“Everything that happened before him was a disaster and everything that he would do would be fantastic, the best ever, miracles and all the superlatives."

Leaving out, of course, that he - Trump - will be the one to visit the carnage -  which will likely fall heaviest on his own voters.

Miracles? Trump's people, his voting blockade, will need them in spades within months.

Bank on it!