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State of Union: Promises Made, Promises Kept

By Charles Payne, CEO & Principal Analyst

Tonight, President Trump will address the American public in his first ‘State of the Union,’ which promises to be must-see television. 

Promises Made

Joint Session Congress Address February 28, 2017

What we are witnessing today is the renewal of the American spirit.  Our allies will find that America is once again ready to lead.  (Applause.)  All the nations of the world — friend or foe — will find that America is strong, America is proud, and America is free.

Dying industries will come roaring back to life.  Heroic veterans will get the care they so desperately need.  Our military will be given the resources its brave warriors so richly deserve.  Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports and railways gleaming across our very, very beautiful land.  Our terrible drug epidemic will slow down and, ultimately, stop.  And our neglected inner cities will see a rebirth of hope, safety and opportunity.  Above all else, we will keep our promises to the American people.  (Applause.)

We have undertaken a historic effort to massively reduce job-crushing regulations, creating a deregulation task force inside of every government agency.  (Applause.)  And we’re imposing a new rule which mandates that for every one new regulation, two old regulations must be eliminated.  (Applause.)  We’re going to stop the regulations that threaten the future and livelihood of our great coal miners.  (Applause.)

To protect our citizens, I have directed the Department of Justice to form a Task Force on Reducing Violent Crime.  I have further ordered the Departments of Homeland Security and Justice, along with the Department of State and the Director of National Intelligence, to coordinate an aggressive strategy to dismantle the criminal cartels that have spread all across our nation.  (Applause.)  We will stop the drugs from pouring into our country and poisoning our youth, and we will expand treatment for those who have become so badly addicted.  (Applause.)

As promised, I directed the Department of Defense to develop a plan to demolish and destroy ISIS — a network of lawless savages that have slaughtered Muslims and Christians, and men, and women, and children of all faiths and all beliefs.  We will work with our allies, including our friends and allies in the Muslim world, to extinguish this vile enemy from our planet.  (Applause.)

Right now, American companies are taxed at one of the highest rates anywhere in the world.  My economic team is developing historic tax reform that will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone.  (Applause.)  It will be a big, big cut.

At the same time, we will provide massive tax relief for the middle class.  We must create a level playing field for American companies and our workers.  We have to do it.  (Applause.)  Currently, when we ship products out of America, many other countries make us pay very high tariffs and taxes.  But when foreign companies ship their products into America, we charge them nothing, or almost nothing.

To launch our national rebuilding, I will be asking Congress to approve legislation that produces a $1 trillion investment in infrastructure of the United States — financed through both public and private capital — creating millions of new jobs.  (Applause.)  This effort will be guided by two core principles:  buy American and hire American.  (Applause.)

Tonight, I am also calling on this Congress to repeal and replace Obamacare — (applause) — with reforms that expand choice, increase access, lower costs, and, at the same time, provide better healthcare.  (Applause.)

Mandating every American to buy government-approved health insurance was never the right solution for our country.  (Applause.)  The way to make health insurance available to everyone is to lower the cost of health insurance, and that is what we are going do.  (Applause.)

I am asking all citizens to embrace this renewal of the American spirit.  I am asking all members of Congress to join me in dreaming big, and bold, and daring things for our country.  I am asking everyone watching tonight to seize this moment.  Believe in yourselves, believe in your future, and believe, once more, in America.

Thank you, God bless you, and God bless the United States.  (Applause.)

Promises Kept

  • Regulatory cuts jump-started businesses that were already enthused with the election of President Trump
  • There has been a marked reduction in violent crime, particularly in large American cities
  • ISIS has been crushed
  • $1.5 trillion tax cuts are one for the record books and big business is sharing their portion-the latest, ExxonMobil (XOM) that just pledged $50 billion investments over the next five years
  • The American middle class has gotten a tax cut. I was hoping for a more robust cut, especially for small businesses

Moreover, Obamacare remains in place even with the removal of the individual mandate. Tonight, President Trump will reiterate his call on infrastructure.

Bipartisan Support and Massive Tax Benefits

The State of the Union address is much better than the mainstream media would ever give President Trump credit for. In fact, the checklist of promises made and kept outshines hypothetical stories from unnamed sources about actions that supposedly were going to happen but didn’t.

Look for a big push on infrastructure, which has bipartisan lip-service. Meanwhile, benefits from the Trump Tax cuts keep coming.  Late yesterday, ExxonMobil released this statement:

Tax and regulatory reform’s economic boon

At ExxonMobil, we plan to invest more than $50 billion over the next five years to expand our business in the United States. These investments are underpinned by the unique strengths of our company and enhanced by the historic tax reform recently signed into law.


Charles Payne
Wall Street Strategies


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