Earlier today Republican representative Matt Gaetz espoused his support for a meaningless and non-binding war powers resolution; ridiculously constructed to give the appearance of preventing President Trump from starting a war the President has no plans to initiate.
It was optical theater, manufactured to deliver political damage…. and Gaetz supported it.  To justify his position, Gaetz appears with Tulsi Carlson to explain:

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Tonight President Trump heads to Toledo, OH for a massive Keep America Great rally at the Huntington Center. President Trump is expected to speak at 7:00pm ET.
UPDATE: Video Added

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Following remarks during the National Environmental Policy Act event at the White House, President Trump held a press conference with media: [Transcript Below]

[Transcript] THE PRESIDENT – We’ll take a few questions. Please.

Q Mr. President, you mentioned the Chinese trade deal that you’re working on; you’re going to be signing, next week, phase one. Can you give us a sense of phase two —

THE PRESIDENT: Yeah.

Q — what you hope to accomplish there? And will you be travelling to Beijing for that?

THE PRESIDENT: Well, phase one is a big, big number. It’s a big percentage of the deal. Some would say half, some would say a little less, or a little more than half. But it’s a tremendous percentage. It’s pretty much all for the farmers — also, bankers. We also have regulations for a lot of different — a lot of things are covered that people are going to be very surprised to see, but it’s a big chunk of it.

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Today, President Donald J. Trump delivered remarks on the latest step his Administration is taking to reverse burdensome regulations.   The executive is modernizing the National Environmental Policy Act (NEPA) regulations to promote more efficient, effective, and timely NEPA reviews of infrastructure projects that will increase our Nation’s economic competitiveness and improve the quality of life of our citizens.
NEPA regulations have not been comprehensively updated in over 40 years. Today’s action will establish time limits of 2 years for completion of environmental impact statements and one year for completion of environmental assessments.
[Video Below – Transcript ADDED]

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[Transcript] – THE PRESIDENT: Good morning, everyone.

PARTICIPANTS: Good morning.

THE PRESIDENT: Today, we’re taking another historic step in our campaign to slash job-killing regulations and improve the quality of life for all of our citizens.

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Senate Majority Leader Mitch McConnell delivered some bad news to Speaker Pelosi from the floor of the upper-chamber:

…”There will be no haggling with the House over Senate procedure. We will not cede our authority to try this impeachment. The House Democrats’ turn is over. The Senate has made its decision.”…

…Now, go make me a sandwich.

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[Transcript] – MITCH MCCONNELL – ‘Late last year, Speaker Pelosi and House Democrats sped through a slapdash impeachment of President Trump in 12 weeks. Because, they insisted, the need to undo the 2016 election was urgent. Urgent, they said.
‘Since then, the same people have spent three weeks dragging their heels and refusing to proceed to a Senate trial.
‘Supposedly, the explanation for this shameless game-playing is that Speaker Pelosi wanted “leverage” to reach into the Senate and dictate our trial proceedings to us. I’ve made clear from the beginning that no such “leverage” exists. It’s nonexistent. And yesterday we made it clear it will never exist.
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One of the key sectors gaining benefit from the USMCA trade agreement is the auto sector.  Rules on steel and aluminum smelting/origination, and rules on part origination from North America are key aspects to the trade agreement that shifts focus from the import of Asian manufactured parts for assembly to manufacturing in North America.
Essentially, seventy-five percent of the component parts for the auto industry must be manufactured in North America.  This shift directly puts U.S. auto-workers at the forefront for job gains & stops the process of using manufactured parts from China, Asia or the EU.
The goal of the agreement was/is to make manufacturing investment in North America the main consideration for auto-manufacturers who want access to the U.S. market.  Today, as a direct result of future investment considerations, General Motors and Ford unexpectedly surprise 1,500 auto-workers with the announcement their jobs have gone from part-time to full-time status.  Great news for these families:

DETROIT – General Motors’ worker Adarrey “Ace” Humphrey was blindsided Sunday. That’s when his life changed.

Humphrey, 27, has been a part-time temporary worker at GM’s Flint Assembly in Michigan for the last three years. On Sunday morning, he and about 250 of his co-workers crowded into UAW Local 598’s union hall. Most thought they were there for a routine meeting.

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A new ADP Payroll Report shows job gains of 202,000 from November to December 2019 far surpassing expectations. The increase was the largest gain since April ’19: “largest gain since April, driven mainly by professional and business services. Job creation was strong across companies of all sizes, led predominantly by mid-sized companies.”

(Reuters) – U.S. private payrolls increased by the most in eight months in December, pointing to sustained labor market strength though job gains last month were likely flattered by a seasonal quirk.
The ADP National Employment Report on Wednesday showed private payrolls jumped by 202,000 jobs last month, the largest gain since April, after an upwardly revised 124,000 rise in November.

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Earlier today President Trump addressed the outcome and ramifications from last nights’ missile attack by Iran against two bases in Iraq. [Video and Transcript Below]

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[Transcript] – THE PRESIDENT: As long as I am President of the United States, Iran will never be allowed to have a nuclear weapon.

Good morning. I’m pleased to inform you: The American people should be extremely grateful and happy no Americans were harmed in last night’s attack by the Iranian regime. We suffered no casualties, all of our soldiers are safe, and only minimal damage was sustained at our military bases.

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Earlier today President Donald Trump and First Lady Melania welcomed the Greek Prime Minister Kyriakos Mitsotakis and his wife Mrs. Mareva Grabowski-Mitsotakis to the White House.  Prior to their bilateral meeting the two leaders held a press availability in the oval office. [Video and Transcript Below]

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[Transcript] – PRESIDENT TRUMP: Well, thank you very much. On behalf of the First Lady and myself, it’s an honor to have the Prime Minister of Greece and First Lady of Greece with us. We really appreciate it. We have many things to discuss.

The relationship is extr- — really extraordinary, I would say. Right? It’s as good as it can get. We’re doing a lot of things together — military. We’re also doing big trade. A lot of trade. And Greece has made a tremendous comeback. We’ve worked with them very closely. And, really, the Prime Minister will have some interesting things to say. So you have to tell them one statistic, because it’s a great statistic. We’re very proud of Greece and the comeback that they’re making. And we will continue it forward. There’s no doubt about it. Thank you very much for being here.

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The Bureau of Economic Analysis (BEA) has released Q4 (November) import/export data showing a considerable drop in the U.S. trade deficit. [Release Here]  Exports increased approximately .7 percent ($208.6 billion) while imports dropped one percent ($251.7 billion.  Lowering the overall trade deficit to $43.1 billion.

While the pundits are surprised at the strong result, it should not come as a surprise to many CTH readers.  During Q2 (June) and Q3 (July, Aug, Sept) the rate of GDP growth was impacted -in part- by inflated U.S. purchases as companies bought holiday merchandise earlier than normal.  This was an effort to avoid looming tariffs, and as a result companies increased their overall inventory.  We predicted Q4 purchases (Oct, Nov, Dec) would be lower specifically because of this backlog of retail inventory.
With the massively successful holiday season now over, those inventories have sold.  Specifically because the value of imports are deducted from the GDP calculations, there will likely be a much stronger Q4 GDP growth resulting from less import activity.
The Wall Street financial pundits are too focused on the multinational side of the ledger; and they simultaneously don’t review data from a Main Street perspective; therefore they don’t see -or pretend not to see- the common sense equation staring them in the face.
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