The economic proposals of Mr. Trump and Vice President Harris have been analyzed by leading economists, and indicate that both would increase the deficits and debt. The proposals give wide ranging impacts with Mr. Trump’s high deficit being $15.15 trillion, while Vice President Harris’ high is $8.1 trillion. The rich versus poor analysis is at work again in these proposals, with Mr. Trump favoring the wealthy and Ms. Harris favoring the middle class.
Popular Mechanics recently published a story about the discovery of a paved basement that was approximately 5,000 years old in Demark, which clearly indicates a level of sophistication in building and in utilization of buildings than has been previously identified. These types of discoveries always raise questions about the sophistication of our ancestors, and then the loss of those techniques as we moved into the years immediately before and after Christ when those techniques seem to have been abandoned. Think of the roads built by the Romans and the aqueducts, why did these things suddenly disappear and cease being utilized by our ancestors? A curious question.
Rally goers at a recent Trump rally were unequivocal in saying that FEMA gave to immigrants the funds that should have been used for a recovery. This has been debunked but nonetheless, is what they believe.
Climate change as we are now hearing and the extraordinary hurricanes that we have been experiencing come as the result of warming water primarily. This is something that has been building for years and ignored for equally as long. I wonder if there will be in any change in the attitude of climate deniers as a result of these very severe storms. We are also hearing that some in Florida are thinking of abandoning their wrecked homes and finding a safer place. Are these storms apocalyptic or are they just a passing experience? I think the former.
Republicans continue their misgivings on early voting. However, many Republicans believe that this is necessary and will help them in coming elections while Mr. Trump of course pounds against the concept. It is hard to understand what the logic is but nonetheless it is the positions being taken.
Inflation cooled to 2.4% essentially meeting the Fed target. We should see more and larger rate cuts, or at least steadier rate cuts as we go forward.
Interestingly, it has been reported that groceries are about as affordable today as they were in 2019 when you take in to account wage increases and inflation. Yet, it does not seem that is recognized by the public, and of course Republicans continue to pound away on that issue when in fact there is at least some question as to its actual reality.
Trump indicated in a recent speech before the Detroit Economic Club that big business had “raped” the US, which I thought was an unusual venue to raise that issue. And yet, the attendees did not seem to be terribly troubled by it. I read some comments that indicated that those attending felt that Mr. Trump lays out these statements solely for the purpose of getting news coverage and doesn’t mean it. I think he does, and I think he does not understand what he is saying in many cases.
I wonder just how far Israel can push Lebanon and Gaza and recently we heard that Isreal has killed UN Peacekeepers in a number of its strikes. It is interesting that the Israelis may at some point in the future need the UN and I wonder how the UN will respond or other countries that provide soldiers for peace keeping missions will respond to helping Israel when it needs it. I certainly, if I was the leader of a country, would be very reluctant to support that.
As we move forward with the race it appears, at least to some extent, that it is tightening more although that is hard to believe how that could happen and we are in a situation where we have really no idea what the outcome will be or when we will know it. We all know that Mr. Trump is building an army of lawyers and others to attack election results which will put him in conflict with many Republicans in red states if he continues this path.
Bill Owens is a former member of Congress representing the New York 21st, a partner in Stafford, Owens, Piller, Murnane, Kelleher and Trombley in Plattsburgh, NY and a Strategic Advisor at Dentons to Washington, DC.
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