Category Archives: Trump

How the Trump tax cut is going to cannibalise itself

As the Fed is slows US Treasury bond purchases, and doggedly pursues its policy of tapering, thus driving up interest rates, 58% of Treasury securities held by the public will be maturing over the next four years.

This means that the US Treasury will be rolling over a huge amount of debt into a higher-interest rate environment. The benchmark 10-year U.S. Treasury Note has moved from a yield of 2.06% (November 9, 2016) to over 3% now.

Mortgage rates correlate to the 10-year Treasury and they have moved up significantly since last September, causing a slowdown in home sales with knock on effects on consumer spending on durable goods. This will impact Treasury revenues.

Meanwhile, Trump’s trade war with China will at least put a dampener on East Asiatic demand for Treasuries for the foreseeable future, and there will be little promise of respite from those quarters for Treasury securities markets, ensuring upward pressures on rates and yields.

All this has to be understood in the context of what the May 3, 2017 General Accountability Office (GAO) report on the U.S. government’s fiscal outlook said about the impact of interest rates on the Federal Budget:

“While health care spending is a key programmatic and policy driver of the long-term outlook on the spending side of the budget, eventually, spending on net interest becomes the largest category of spending in both the 2016 Financial Report’s long-term fiscal projections and GAO’s simulations.”

While it has been clear since 2011 that the Fed has been aiming at a programme of tapering its quantitative easing programme and reversing it in order to “normalise” its balance sheet, the Trump tax plan itself will make it impossible for the Fed to respond counter-cyclically  to worsening economic performance, in view of the historically unprecedented fiscal deficits that will result from this plan.

The irony of this situation is that the Trump tax plan was in part intended to disguise and offset the effects of Fed tightening. But it clear from the above that it will consume itself. It is remarkable that the US Treasury, unlike Trump officials and GOP luminaries, stayed silent on this policy, unwilling to issue any reports or statements whatsoever on one of the biggest tax giveaways in history.

The joke continues to be on the average American citizen.

Nearing the last stage of the Trump Presidency?

Adam Davidson writes: This is the week we know, with increasing certainty, that we are entering the last phase of the Trump Presidency. This doesn’t feel like a prophecy; it feels like a simple statement of the apparent truth. I know dozens of reporters and other investigators who have studied Donald Trump and his business and political ties. Some have been skeptical of the idea that President Trump himself knowingly colluded with Russian officials. It seems not at all Trumpian to participate in a complex plan with a long-term, uncertain payoff. Collusion is an imprecise word, but it does seem close to certain that his son Donald, Jr., and several people who worked for him colluded with people close to the Kremlin; it is up to prosecutors and then the courts to figure out if this was illegal or merely deceitful. We may have a hard time finding out what President Trump himself knew and approved.

Read full article

Bible thumping Trump cabinet, with foaming-at-the-mouth “spiritual” leader

Eli Clifton writes: An examination by LobeLog of statements and studies by Secretary of State-designate Mike Pompeo’s “spiritual adviser” reveals a deeply ingrained anti-Muslim theology coupled with a conviction that U.S. military engagement overseas is justified by nothing less than the Bible itself.

Ralph Drollinger, a 7’1” former professional basketball player who established Capitol Ministries in 1997, has drawn attention for his role as the organizer of a weekly prayer group in the White House. Attendees include Pompeo, Vice President Mike Pence, and cabinet secretaries Ben Carson, Betsy DeVos, Rick Perry, Sonny Perdue, and Jeff Sessions. But Pompeo’s association with the preacher goes back to at least October 2012, when his name was first listed as a sponsor of Drollinger’s weekly congressional Bible study group while the future CIA director was still a freshman congressman.

Drollinger’s White House followers are perhaps the most reactionary members of an increasingly rightwing administration. In an October 2017 interview with the German daily Welt am Sonntag, Drollinger, among other assertions, characterized the U.S. government as “an avenger of wrath,” hailed Trump as “an adjudicator of wrongdoing,” and claimed that women shouldn’t teach grown men.

Pompeo’s nomination to succeed the hapless Rex Tillerson is already under scrutiny for a variety of reasons, including his well-established hawkishness, his own history of anti-Muslim rhetoric, and his eagerness to take policy positions, even publicly, despite his position as head of the CIA. A number of Democratic senators and as well as Sen. Rand Paul (R-KY) have said they will oppose his nomination, and the Trump administration may find itself in a major confirmation battle next month.

His apparent affinity for Drollinger and his worldview are unlikely to make matters easier.

A Shared Islamophobia

Many of Drollinger’s Bible studies are posted on Capitol Ministries’s website, and his anti-Muslim perspective is sprinkled regularly into fundamentalist interpretation of Christianity.

In a March 2014 bible study, listing Pompeo as a cosponsor on the sidebar, Drollinger offered his own summary of Islam. He wrote:

This religion is based in part on plagiarisms from the Old Testament – plagiarisms that amount for much of the content of the Koran. To quickly illustrate this, note that in the Koran’s paraphrase and plagiarism of Genesis 1:26, “Let Us make man in Our image” (a direct early OT reference to the Trinity) that Muslim scholars have no response to this and many other plagiary-related issues. In this instance, Muslims deny the Trinitarian nature of God, so they should have omitted borrowing this passage! This religion has historically spread through the sword and seeks nothing less than world conquest for Allah. Allah was the moon-god worshipped in the Middle Eastern part of the world long before Mohammed came on the scene to found his religion (hundreds of years after the life of Christ). Salvation per Islamic theology is not attained via a loving, self-sacrificing act of God (as per Christianity); it is attained by jihad, a sacrifice of self in combatting the infidels. Whereas in biblical Christianity, God gives His life for man, in Islam, man must give his life for his god.

According to a June 2014 bible study on “The Bible as an Aid to TST – Terrorist Sensitivity Training,”

NOT EVERY MUSLIM IS A TERRORIST BUT EVERY INTERNATIONAL TERRORIST IN RECENT HISTORY HAS BEEN A MUSLIM…

IS IT NOT DETESTABLE THAT THE ISLAMIC CLERGY FAIL TO CONDEMN THE EVIL THEIR FELLOW MUSLIMS DO IN THE NAME OF ISLAM?

 

Together, these insights serve to inform the world about the Islamic religion itself! And any serious and objective student of the Koran understands this: The book instructs its adherents to advance Islam by the sword. This is not in question.

That perspective closely mirrors controversial statements made by Pompeo a year earlier in the aftermath of the Boston marathon bombing when he inaccurately accused Muslim religious leaders of being “silent” in the aftermath of the attack and “potentially complicit.”

A 2013 Capitol Ministries study attributed theological differences to the reason the U.S. economy outpaced Buddhist and Muslim-majority countries. “The reason for this momentous growth is Christianity,” according to Drollinger.

Unlike other religions, Christianity combines rational thinking and human dignity. Hinduism teaches its adherents to empty their minds of rational thought. Islam on the other hand, rejects God’s incarnation through Christ, depriving its adherents of a role model of God’s characteristic humaneness. [editor’s note: One wonders what he thinks about Judaism.]

He later observed:

Hindu countries have been stymied in historic poverty. And no one needs to read a book to understand the lack of human dignity rooted in the culture of Islam. As a result, Muslim economies are largely built on western developed oil exportation.

Drollinger also compared Islam to communism in the March 2014 bible study: “Today Communism, in its atheistic political ideology is another such illustration; it persecutes the Church wherever it goes, as do Islamic ideologues as they expand their religiously exclusive political ideology.”

And according to a 2011 bible study,

Christianity places a high value on women (cf. Gal. 3:28). The husband therefore is to honor his wife, not diminish her, if he is to be effective in prayer (contr: male-chauvinistic Islam, wherein males “pray” numerous times per day). One’s attitude toward their mate, the Bible says, directly relates to their power in prayer.

A Shared Iranophobia

The June 2014 study went on to link this view of Islam to Iranian uranium enrichment:

Workers of iniquity know nothing of the just war theory; their very form of combat, rooted in the cowardly exploitation of innocent blood via surprise attacks bespeaks of their evil nature. Given this history of Islamist terrorism, especially their use of explosives to kill and injure innocent civilians, it follows that there is no way America or Israel should tolerate uranium enrichment programs in any theocratic Muslim country Given. God’s counsel via the clear principled instruction of Proverbs, specifically that evil men do not understand justice.

 

IT IS SHEER LUNACY FOR AMERICA TO PERMIT IRAN TO GO AS FAR AS THEY HAVE IN THEIR NUCLEAR PROGRAM!

Pompeo apparently shared Drollinger’s hawkish view. At the same time, he suggested that taking military action against Iran was preferable to negotiations, noting that, “…[I]t is under 2,000 sorties to destroy the Iranian nuclear capacity. This is not an insurmountable task for the coalition forces.” Just before his formal nomination as CIA director, he tweeted, “I look forward to rolling back this disastrous deal with the world’s largest state sponsor of terror.”

A Question of Alignment

Pompeo’s decision to align himself with Drollinger shortly after his election to the House of Representatives in 2010 indicates that the Trump administration’s choice for the nation’s top diplomat might embrace, if not actively practice, a radical view of Christianity that has little or no respect for other faiths, particularly Islam and its 1.8 billion adherents.

For his part, Drollinger has never shied away from advancing his own view of Washington’s role in the world. According to a 2015 “Members Bible Study” on “The ISIS Threat” that listed Pompeo as a sponsor,

There can be no doubt that America’s presence throughout the world—its just, historic presence outside its own boundaries—be it as a member of NATO, signing the Monroe Doctrine, defense treaties with Taiwan and Israel, or its willing and welcomed presence to support military bases in the Philippines, Germany, Korea and Japan, have all greatly aided in peacemaking and peacekeeping throughout the world. This is the fruit of biblically justified intervention! When America is strong, and the threat of her intervening is ever-present the world is a much safer place. And the opposite is now increasingly apparent: When American intervention is of a lesser possibility, unrest and evil aggression rise.

Drollinger’s Capitol Ministries is hardly an upstart or small operation. Its website says, “Capitol Ministries plants and develops biblical ministries of evangelism and discipleship to Public Servants,” and boasts of “200 ministries in 200 countries,” “10,000 ministries in 33,000 cities,” “50 ministries in 50 states,” and “3 ministries in 3 branches.” The group’s strategy: “to reach Public Servants for Christ at every stop along their career paths, beginning with their first local elected or appointed positions and following as they ascend to higher office.” Read original article

Trump just gave a massive gift to Iran: the Arab autocrats should fear their street

 

Until now Iran had lost its credibility on the Arab Street, because of its rescue of the Assad regime. All will now be forgiven as the penny drops. The Iranians were perhaps right to support Bashar, despite his despicable character and his Neanderthal régime.

Trump’s move is -woefully, blatantly – in contempt of international law and UNSC resolutions, which the UNSC itself didn’t fail to point out to its US representative. The US has lost it’s position as a fair arbiter in the Middle East process – some say it has finally shown its hand – and now its international reputation is as sullied as Israel’s.

Liberal Jewish groups in the US see this danger clearly. The Union of Reform Judaism stated: ‘… any relocation of the American Embassy to West Jerusalem should be done in the broader context reflecting Jerusalem’s status as a city holy to Jews, Christians and Muslims alike…the White House should not undermine these efforts by making unilateral decisions that are all but certain to exacerbate the conflict.’

J- Street released a statement saying that a Palestinian capital must also be established in the East Jerusalem: ‘… the effect of moving the American embassy from Tel Aviv to Jerusalem or of declaring that Jerusalem is Israel’s capital prior to a negotiated agreement will be to anger key Arab allies, foment regional instability and undermine nascent US diplomatic efforts to resolve the larger conflict.’

New Israel Fund also criticized the decision in a statement: ‘President Trump many not understand what’s at stake here, but we do. Moving the embassy risks igniting the tinderbox of anger, frustration and hopelessness that already exists in Jerusalem. Throwing…balance off with this unilateral gesture could have grave consequences.’

The US has either been sowing discord or waging war directly in the Middle East for 35 years. So far Iran won the 1980-88 Iraq-Iran war, the 2003-9 Iraq war, and the 2011-7 Syrian war. Let’s see what happens in the next war. Ali Abdulla al-Saleh supporter and funder of violence and militancy across the board is dead. Yemen is open. What will the Arab autocrats, who are the allies of the US, do apart from buy paintings by Leonardo for $450m, and yachts for $500m, all the while mistreating former Gulf allies?

Saudi Arabia’s formal statement denouncing the Trump decision belies their co-operation with him over this new roughing-up of the Palestinians. It smells of fear and double-dealing. The news from Jerusalem is being “managed” by Saudi authorities.

Hopefully, the liberal voices in America above will help undo Trump’s idiocy and the influence of the Christian right on US Middle East policy. Turkey’s efforts to create international consensus against this move will definitely help to keep the pressure on. Erdoğan calling the OIC to a conference on the matter of Jerusalem is a symbolic move, although welcome of course. What people don’t recognise, on the other hand, is the crucial importance of Turkey’s position as the energy transit hub for Mediterranean gas, offering the cheapest route to Europe, which Israel is banking on for its future.

Certainly Abbas has kicked the so-called peace process into the long grass. He doesn’t look too phased by the events and Mike Pence will be disappointed if he thinks he can restart peace talks on his visit to Israel next month.

Although the Palestinian Authority has continually disappointed in the prime task of keeping the Palestinians united and resisting pressure, Abbas has shown more mettle recently in taking Israel to the ICC.

 

Trickle-down economics and the Trump tax cut: people don’t get the joke

Senate majority leader Mitch McConnell sells the lie that the Trump tax cut is going to be good for small business.

When U.S. Treasury Secretary Steven Mnuchin spoke about the Trump administration’s tax plan at the Institute of International Finance, he said the plan would pay for itself without adding to the national debt. This, he said, would be based on what he called “dynamic scoring”. His projections showed ‘a $2 trillion increase in revenues over a 10-year period. So the plan will pay for itself with growth.’

But the tax plan that has just passed Congress and the Senate, in two different forms which are somehow to be merged, shows without all the “dynamic scoring” a $1.5 trillion extra deficit, according to the nonpartisan Joint Committee on Taxation (JCT).

In the past fiscal year, the U.S. deficit was $666 billion. That follows deficits of $585 billion in 2016, $438 billion in 2015, $485 billion in 2014, $679 billion in 2013 and more than $1 trillion in deficits in each year from 2009 through 2012, despite extraordinary efforts to stimulate the economy following the 2008 Wall Street financial collapse.

The JCT study found the Trump tax cut would only return  $458 billion of the $1.5 trillion cost over the 10 year period. Meanwhile, as Senator Elizabeth Warren noted in a letter to the Inspector General of the Treasury Department, there is no study whatsoever coming out of the US Treasury on the subject.

Mnuchin’s “Goldman Sachs bluster” with the hackneyed trickle-down metaphors being trumpeted (excuse the pun) all over the media, is intentionally deceptive.

As Professor Ha-Joon Chang at Cambridge University tells us, “trickle down” – the theory that making a few rich creates wealth across the board for everybody – is a totally broken theory.  See him in the short clip below.

Mnuchin’s deception is not limited to this. The bill he has rammed through Congress and the Senate, which Republicans jumped at and turned into law in record time because they are worried about their chances in the upcoming 2018 mid-term elections, is actually a massive $6 trillion tax-cut over the coming decade, funded by tax rises which will destroy local economies across the US.

The tax-cut raises $4.5 trillion in taxes on ordinary people, so that the rich can get the $6 trillion, which is the actual full amount of the scam for the corporations and the 1%: a historic number that would have made both Reagan and Bush cringe.

The Tax Policy Center estimated that about 80 percent of the benefit of the tax plan will go to the top 1 percent, with $1.5 trillion going to slash the corporate tax rate, $700bn going to cancel the ‘alternative minimum tax’, paid almost exclusively by the rich, and $150 billion going to repealing the estate tax, which currently exempts the first $11 million of the deceased’s estate, so nobody even remotely middle class pays it.

Furthermore, more than $200 billion in cuts goes to a provision that allows a greater deduction for dividends on foreign earnings, and $600 billion goes to reducing taxes on “pass-throughs” and other businesses not set up as corporations -such as law firms, lobby shops, and doctors’ surgeries.

If some $200bn will be going to allow higher income bands to claim tax credits, whilst individual and family tax rates are cut by about $1 trillion, these are the only elements in the package likely to filter through to the middle classes. As the New York Times noted, by 2027, people making between $40,000 and $50,000 would see a combined increase of $5.3 billion in taxes, whilst, on the other hand, people earning more than $1 million would see their taxes collectively cut by $5.8 billion a year.

The tax rises made to underwrite the $6 trillion giveaway

(1) The tax rises include some $300 billion allowances for companies with offshore profits to repatriate them at a lower rate. Although that cash goes straight to dividends for shareholders and stock buybacks, it gets counted as a tax increase.

(2) Unbelievably $1.6 trillion is raised by repealing the personal exemption everybody gets on their tax returns.

(3) Another $1.3 trillion is raised by going after deductions for state and local taxes, mortgage interest, charitable contributions, interest on student loans, medical expenses, teachers’ out-of-pocket expenses (e.g. for paper and pencils for students). This will devastate local economies.

(4) The new law gradually raises $128 billion in (stealth) taxes by changing the way inflation is calculated, so that your taxes slowly creep up over the years as the brackets come down.

(5) Finally, the law adds about $1.5 trillion to the already eyewatering debt over the next 10 years, and the interest payments that will entail.

The joke: what comedian Will Rogers meant by “trickle-down” during the Great Depression

In 1932, Will Rogers comments on Hoover’s defeat at the hand of Roosevelt:

“The Republicans didn’t start thinking of the old common fellow till just as they started out on the election tour. The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickles down. Put it uphill and let it go and it will reach the driest little spot. But he didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellows hands. They saved the big banks, but the little ones went up the flue.”

Will Rogers was just telling us what Ha-Joon Chang is saying today.

Background to the Gulf rift: Trump real estate deals

Ben Walsh, Ryan Grim, Clayton Swisher at the Intercept write: Not long before  a major crisis ripped through the Middle East, pitting the United States and a bloc of Gulf countries against Qatar, Jared Kushner’s real estate company had unsuccessfully sought a critical half-billion-dollar investment from one of the richest and most influential men in the tiny nation, according to three well-placed sources with knowledge of the near transaction.

Kushner is a senior adviser to President Trump, and also his son-in-law, and also the scion of a New York real estate empire that faces an extreme risk from an investment made by Kushner in the building at 666 Fifth Avenue, where the family is now severely underwater. Read full article here.

The last neocon out, and one Islamophobe less in Trump’s cabinet

After John Bolton’s disappearance, Elliott Abrams is now done for. Goodbye to the last two neocons in play in regard to potential appointments.

Now the drama starts with the actual cabinet appointees as Michael Flynn, NSC chief, resigns. Goodbye to bad rubbish. Keith Kellogg takes over the NSC as ‘acting head’: at least he doesn’t foam at the mouth.

Trump might have stuck with Flynn as the revelations over his contacts with the Russian Embassy came out, if it hadn’t been for Trump’s loss of face over the ‘Muslim ban’.

Who comes out of all of this a hero – or heroine? Sally Yates: who warned the White House about the illegality of the Muslim ban and about Michael Flynn. Where is she? Fired of course.

Trump will not be drawn by neo-conservatives

In a sign that Donald Trump will not be drawn into another neo-conservative nightmare, two of his most powerful supporters, Robert Mercer and his daughter Rebekah, are being frozen out of future Trump organisations. They had been pushing John Bolton as Secretary of State, and then after Rex Tillerson became Trump’s appointee, they pushed for him as number two.

 

Trump’s poor grasp of economic reality, and the prospective failure of his economic populism

There are three factors that will ultimately make Trump economics an event limited in time that will add to Central Bank debt and be followed by crisis and stagflation:

  1. His tax cuts mean that Trump will have to rely on monetary expansion. The Fed’s Jan 19 announcement of rising interests rates to bring sanity back to the capital markets, will conflict with the need to fund expenditures through tax credits as seems to be the plan. The whole thing relies on a replay of the old Reagan-Thatcher ‘trickle-down’ nonsense, which has been thoroughly discredited. As Ha-Joon Chang has explained, Western economies are undermining productivity by massively scaling back welfare while reducing purchasing power by squeezing wages.
  2. Falling unemployment figures under Obama, which have been used to show us a successful neoliberal trajectory to have hidden a dark truth. Although I list Joseph Stiglitz’s articles on Trump economics below because he talks a lot of sense about upcoming problems, his statement that Trump inherits a vibrant economy from Obama is wrong. The reason that trump has come to power is that the mass of the population is desperate and tired out. So Trumpist antiwelfarism will add insult to an already massive injury.
  3. Trump idea that he can bring jobs back to the US has to face technological realities. The industrial landscape has changed fundamentally, and both Stiglitz and Gwynne Dyer write eloquently about these difficulties. Trump economics cannot, given the political and economic structures in place at the moment, drive money into the hands of the middle classes: it is merely continue, if not accelerate the transfer of wealth to the top.  Unless Trump suddenly becomes a ‘national socialist’, his project will founder.

Joseph Stiglitz writes:

The only way Trump will square his promises of higher infrastructure and defense spending with large tax cuts and deficit reduction is a heavy dose of what used to be called voodoo economics. Decades of “cutting the fat” in government has left little to cut: federal government employment as a percentage of the population is lower today than it was in the era of small government under President Ronald Reagan some 30 years ago.

the increase in infrastructure spending is likely to be accomplished through tax credits, which will help hedge funds, but not America’s balance sheet: such programs’ long track record shows that they deliver little value for money. The cost to the public will be especially high in an era when the government can borrow at near-zero interest rates. If these private-public partnerships are like those elsewhere, the government will assume the risks, and the hedge funds will assume the profits.

The debate just eight years ago about “shovel-ready” infrastructure seems to be a distant memory. If Trump chooses shovel-ready projects, the long-term impact on productivity will be minimal; if he chooses real infrastructure, the short-term impact on economic growth will be minimal. And back-loaded stimulus has its own problems, unless it is managed extremely carefully.

Read full article here

Gwynne Dyer writes:

Neither Donald Trump nor his new appointment of Andrew Puzder as Secretary of Labor understands the significance of their forthcoming collaboration.

Puzder bears a large part of the responsibility for fulfilling Trump’s election promise to “bring back” America’s lost industrial jobs: seven million in the past 35 years. That’s what created the Rust Belt and the popular anger that put Trump in power. But Puzder is a fast-food magnate who got rich by shrinking his costs, and he has never met a computer he didn’t like.

He tells us: “They’re always polite, they always upsell, they never take a vacation, they never show up late, there’s never a slip-and-fall, or an age-, sex-, or race-discrimination case”.

But it isn’t evil foreigners who “stole” seven million jobs, and will probably eliminate up to 50 million more in the next 20 years. It’s the robots and computers that Puzder is so fond of. As automation moves up the skill sets, self-driving cars will annihilate another four million jobs. A 2013 study concluded that 47 percent of existing jobs in the United States are vulnerable to automation in the next 20 years, and the numbers are as bad or worse for the other developed countries.

This is what is really driving the “populist revolution” that caused two of the world’s oldest democracies to make bizarre, self-harming political choices in the past year. First Brexit, then Trump. Neo-fascism looms as we fear  a re-run of the 1930s. Economic growth has slowed since the crash of 2008, and unemployment is much higher than it looks. The official US unemployment figure is only 5 percent, but almost one-third of American men between the ages of 25 and 54 are “economically inactive.” So angry populist leaders are popping up again all across the developed world.

The “Dirty Thirties” ended in the Second World War, and there are obvious parallels today. TheEU is fraying at the edges, and Donald Trump has talked about curtailing US support for NATO. He has also threatened to slap huge tariffs on Chinese exports to the US, and it’s probably a bad idea to push China too hard when it is already in grave economic trouble.

But this is not the 1930s. There are no ranting dictators promising revenge for lost wars, and government benefits mean that unemployment is no longer a catastrophe for most people in Western countries. The old white working class (and some of the middle class) are angry because jobs are disappearing and because immigration is changing the ethnic balance in their countries, but they are not angry enough to want a war.

Trump’s election means that we are in for a wild ride in the next four years, but he will ultimately disappoint his supporters because he is barking up the wrong tree. He cannot bring back the jobs that were lost, because most of them were not lost to his favorite culprits: Free trade and uncontrolled immigration. Even if Trump understood this, he could not admit it in public, because there is nothing he can do about it.

Read full article here. Dyer’s article reiterates some of Joseph Stiglitz’s earlier warnings.

 

Rand Paul Vows to Block John Bolton as Deputy Secretary of State

Jason Ditz writes

President-elect Donald Trump is facing criticism for other nominations, but none may be so impactful as Sen. Rand Paul’s (R – KY) promise to oppose John Bolton’s nomination as Deputy Secretary of State, saying the ultrahawkish Bolton is “an automatic no.”

Paul expressed openness at Rex Tillerson as Secretary of State, saying he’s going to reserve judgement on him, but that Bolton “should get nowhere close to the State Department.” Read full article here.

Perhaps the Bolton proposal is a ploy by Trump to manoeuvre the Senate into endorsing Tillerson, while giving them a decoy to shoot down.