Why Isn’t Joe Biden in Michigan? Plus, House Disarray on Budget
Author: Greg Valliere
September 19, 2023
BUT DEMOCRATS ARE URGING the president to find time this week to show up on an auto picket line, which would be a photo op that could show some physical vitality from the frail president. He has never walked on a picket line, despite proclaiming that he’s the most pro-labor president in history.
TRUMP, ON THE OTHER HAND, will be in Michigan on Sept. 27, which just happens to be the date of the next GOP debate. He wants to capture the spotlight as Republicans meet in sunny Simi Valley. Trump will address union workers, who he says have been “sold down the river by their leadership.”
TRUMP CLEARLY WANTS to marginalize the Republican field, which is far behind him in recent polls. The criticism from the Republicans may intensify after Trump sounded relatively moderate on abortion last weekend. But he’s ahead of all challengers, some by nearly 50 points, and can afford to make a gaffe or two.
* * * * *
THE BUDGET GRIDLOCK WENT FROM BAD TO WORSE yesterday as House right wingers made it clear that they would not support a compromise that GOP moderates reached with mainline conservatives this past weekend. The hard-liners surely know the Senate would never accept an 8% spending cut on virtually everything but defense, veterans and disaster relief.
THIS GRIDLOCK means a partial government shutdown is very likely next Thursday. Odds: 70% chance of a shutdown, perhaps a long one lasting into the winter.
HOUSE SPEAKER KEVIN McCARTHY must realize that the only way he can get a budget done is to seek votes from Democrats, since his hard-right troops will not relent in their call for steep new spending cuts. But once McCarthy even hints of a deal with Democrats, the House Freedom Caucus will give him the boot.
The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
For further information, please visit AGF.com.
©2024 AGF Management Limited. All rights reserved.