The tax law and a push by the Trump administration to increase military spending will reduce federal revenue and force the Treasury to borrow more money when the economy is close to full employment. This could stoke inflation and prompt the Federal Reserve to tighten monetary policy. That, in turn, would slow the economy.
.. The prospect of a recession or financial crisis on Mr. Trump’s watch is unnerving, because he is as confident in his own abilities as he is lacking in knowledge and sound judgment. When confronted with criticism, he lashes out like an intemperate child.
On Monday, he said Democrats who did not applaud during his State of the Union address were un-American and treasonous.
.. If the stock market falls further, will the president try to reassure the public, or will he launch a Twitter fusillade blaming the drop on, say, a conspiracy hatched by the Senate minority leader, Chuck Schumer, and Tom Steyer, the billionaire hedge fund manager who wants Mr. Trump impeached?
.. Instead, he has stacked his administration with incompetent yes men, right-wing ideologues and Washington swamp dwellers. Consider the Treasury secretary, Steven Mnuchin, a former investment banker, who unnerved the currency market last month by suggesting that the United States was trying to weaken the dollar. His statement broke with the longstanding practice followed by Treasury secretaries from both parties to avoid making careless public pronouncements about American currency.
Mr. Mnuchin and Gary Cohn, the White House’s chief economic adviser, also debased their credibility last year by arguing with no evidence whatsoever that the Republican tax cut would pay for itself.
.. Paul Ryan, tried to pass off as good economic news that a public school secretary would take home an extra $1.50 a week as a result of the tax law.
.. Mr. Ryan, for one, is citing the deficit to make the case that the government needs to slash Medicaid, Medicare and other important government programs. Other members of his party are using the deficits to argue that the government cannot afford to repair and upgrade the country’s dilapidated infrastructure.
Tax cuts. Deregulation. More for the military; less for the United Nations. The Islamic State crushed in its heartland. Assad hit with cruise missiles. Troops to Afghanistan. Arms for Ukraine. A tougher approach to North Korea. Jerusalem recognized as Israel’s capital. The Iran deal decertified. Title IX kangaroo courts on campus condemned. Yes to Keystone. No to Paris. Wall Street roaring and consumer confidence high.
And, of course, Neil Gorsuch on the Supreme Court. What, for a conservative, is there to dislike about this policy record as the Trump administration rounds out its first year in office?
.. “The central conservative truth is that it is culture, not politics, that determines the success of a society,” said the late Daniel Patrick Moynihan.
.. And want to preserve your own republican institutions? Then pay attention to the character of your leaders, the culture of governance and the political health of the public. It matters a lot more than lowering the top marginal income tax rate by a couple of percentage points.
.. Or maybe you regret the failure to repeal Obamacare. But that had something to do with the grotesque insults Trump lobbed at John McCain, the man whose “nay” vote sank repeal... Look at every other administration embarrassment (Scaramucci) or failure (the wall, and Mexico paying for it) or disgrace (the Charlottesville equivocation). Responsibility invariably lies with the president’s intemperance and dishonesty. That puts Republican control of Congress in play. It also risks permanently alienating a millennial generation for which the G.O.P. will forever be the party of the child-molesting sore loser and the president who endorsed him... Now look at the culture of governance. Trump demands testimonials from his cabinet, servility from Republican politicians and worship from conservative media. To serve in this White House isn’t to be elevated to public service. It’s to be debased into toadyism, which probably explains the record-setting staff turnover of 34 percent.. In place of presidential addresses, stump speeches or town halls, we have Trump’s demagogic mass rallies. In place of the usual jousting between the administration and the press, we have a president who fantasizes on Twitter about physically assaulting CNN. In place of a president who defends the honor and integrity of his own officers and agencies, we have one who humiliates his attorney general, denigrates the F.B.I. and compares our intelligence agencies to the Gestapo.
Trump is normalizing all this; he is, to borrow another Moynihan phrase, “defining deviancy down.” A president who supposedly wants to put a wall between the U.S. and Latin America has imported a style of politics reminiscent of the cults of Juan Perón and Hugo Chávez.
.. Trump is empowering a conservative political culture that celebrates everything that patriotic Americans should fear: the cult of strength, open disdain for truthfulness, violent contempt for the Fourth Estate, hostility toward high culture and other types of “elitism,” a penchant for conspiracy theories and, most dangerously, white-identity politics.
In addition to being a public good that ought to be regulated, the internet is also an amplifier of panic, malice, and intemperance. Like it or not, those vices helped get the nation into the political moil it currently faces, from internet policy to immigration to taxation to health care—as well as to the validity of elections themselves... Under the new rules, dubbed “Restoring Internet Freedom” by the FCC, ISPs would have to disclose any steps they take to limit or sell special access... The FCC voted in favor of repeal despite widespread support of net neutrality among the American public.. Even the FCC hearing itself was disrupted by the internet’s feral anxiety about itself... progressive advocacy for net neutrality can’t credibly claim to be acting on behalf of consumers and small businesses when venture-backed technology start-ups are the main beneficiary... but it’s not clear that the online-video market hasn’t been taken over by incumbents anyway, like search and social networking have... Pai insists, telco investment in broadband infrastructure has declined.. better solutions to broadband competition exist. One is local-loop unbundling, a policy that requires telcos to share last-mile connections with competitors. It’s one of the reasons that broadband is so much cheaper in Europe than it is in the United States.
.. “I mean, the Russians succeeded, I believe, beyond their wildest expectations. Their first objective in the election was to sow discontent, discord and disruption in our political life, and they have succeeded to a fare-thee-well. They have accelerated, amplified the polarization and the divisiveness in this country, and they’ve undermined our democratic system. They wanted to create doubt in the minds of the public about our government and about our system, and they succeeded to a fare-thee-well.”
“They’ve been emboldened,” he added, “and they will continue to do this.”
.. Trump’s rhetoric is “downright scary and disturbing,” Clapper agonized in an extraordinary monologue on live TV in August, amid Trump’s “fire and fury” threats toward North Korea. He questioned Trump’s “fitness for office” and openly worried about his control over the nuclear launch codes. In our conversation, Clapper didn’t back off one word of it, slamming Trump’s lies, “distortions and untruths.”
.. And he is certainly no liberal partisan: just ask Democrats like Oregon Senator Ron Wyden, who excoriated Clapper for what appeared to be misleading a Senate committee about the intelligence community’s surveillance of private U.S. citizens, information later revealed by Edward Snowden’s disclosures. (His testimony was “a big mistake,” Clapper now says, but not “a lie.”
.. a tough-minded former Air Force lieutenant general who once said, “I never met a collection capability I didn’t like.”
.. “It’s a very painful thing for me to be seen as a critic of this president,” he told me, “but I have those concerns.”
.. what he did when then-President-elect Trump first started attacking the intelligence community’s Russia findings. He didn’t publicly blast Trump—he called him on the phone.
.. more significant Russian arms-control violations of the Intermediate Nuclear Forces Treaty. “If you look at what Russia is trying to do to undermine us, and the modernization of their strategic nuclear forces—and they only have one adversary in mind when they do that
.. appearing to lecture Americans on why only that small percentage of citizens who have served in the military could understand the nature of their sacrifice.
.. He took particular issue with White House spokeswoman Sarah Huckabee Sanders’ comment that Kelly’s word about the congresswoman should not be second-guessed because he had been a four-star general, a remark Clapper called “absurd.”
.. worried about the Trump era as the new age of militarized government, not only with Kelly as chief of staff but also a sitting lieutenant general, H.R. McMaster, as national security adviser, and a former general, James Mattis, as defense secretary. Clapper said that while he has “a visceral aversion” to generals “filling these political, civilian positions,” he’s nonetheless “glad they’re there.”
.. he fears that “some of this intemperate, bellicose rhetoric” between Trump and North Korean leader Kim Jong Un could lead to a “cataclysmic” war.
The risk, he said, came primarily from Kim miscalculating as a result of Trump’s heated words.
.. “Kim Jong Un doesn’t have any advisers that are going to give him objective counsel. He’s surrounded by medal-bedecked sycophants, who dutifully follow him around like puppy dogs with their notebooks open, ascribing his every utterance, and pushing back against the great leader is not a way to get ahead,” Clapper said. “And so I do wonder what Kim Jong Un’s ignition point is, when some insult that’s been hurled at him by the president will just ignite him.”
.. The 25th Amendment that people bring up is a very, very high bar for removal, and appropriately so. And if that were to happen—and let’s just say for the sake of discussion there were an impeachment, even less likely a conviction—all that would serve to do is heighten the polarization and the divisiveness, because the base will never accept that, and that would just feed the conspiracy theories.”