7/20/2017
By Charles Payne, CEO and Principal Analyst

I stopped taking stock in polls a long time ago, but there are times when you can strip out the political noise to find a modicum of truth and that happens often with economic polls (although they’re still skewed along party lines). Recently, CBS posted its poll on Views of the Nation’s Economy - the  “ % of Americans say the economy is good.”

• 64%: June 2017
• 56%: September 2016
• 5%: February 2009

Confidence is infectious, and it creates the foundation for success that generates even more confidence.  It doesn’t get derailed by day-to-day shenanigans in Washington, D.C., but it can eventually be bogged down and arrested with long-term ineptitude. On that note, Americans are watching the health care saga very closely, according to Bloomberg.

Where There’s a Will...

I know that soaring premiums after years of lost health coverage made this a key issue in November, but there is much debate on what to do now. The fact is that with political will, repealing it would be best for the long-term, but now Republicans seem even afraid of taking that route. After the closing bell on Wednesday, the Congressional Budget Office (CBO) released its “score” on the repeal only and it’s not pretty.

CBO Scores ‘Repeal’ Only

• Deficit -$473 billion 2017 - 2026
• Uninsured -17m 2018 -27m 2020 -32m 2026
• Premiums +50% 2020 +100% 2026

If the repeal fails and a new replacement bill can’t be crafted, it’s going to be imperative that Congress get a tax bill done.  This means they should begin with lower taxes and maybe a couple repatriation and infrastructure. This allows room for negotiation and real compromises.

I suspect most Americans believe that health care and taxes are going to be adjusted. Meanwhile, regulations are being wiped away.

Charles Payne
Wall Street Strategies

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