On January 20, 2017, President Elect Trump will take the Oath of Office as the 45th President of the United States.
Although the depiction above is humorous, it underscores the uncertainty and unpredictability of the new era. Some key agencies of the Obama Administration issued out Exit Memos that is available for all by clicking here. There debate on the Obama Legacy will continue as he leaves office, goes on an extended vacation and begins to build his library. It is of note, though, that when President Obama took office, there were nearly 200,000 Troops fighting in wars and the Dow Jones was dipping below 6600. HIs approval ratings were 55% and after a massive explosion in deficits in the aftermath of the financial collapse of 2009, there was a steady decrease in it. Unemployment dropped to below 5% awhile the gross domestic product increased from a little under 15 trillion to almost 20 Trillion Dollars.
On January 13, The Dow Closed as follows (Source: BigCharts.com):
The Obama Administration has been quite busy as they are winding things down. The President used his authority under the Antiquities Act of 1906 to expand Natural Resources--including a number of key resources here in our home State of California--including an expansion of the There is also a "sense of resistance" as epitomized by Senator Schummer--this is as we went to press, we saw reports of some 20 Democrats boycotting the inauguration ceremonies in the aftermath of Mr. Trump having attacked Congressman John Lewis. This is as Charles Krauthammer of the Washington Post just declared the honeymoon over before the President-Elect takes the Oath.
One of the other key challenges we have been witness to was the confirmation process. Cabinet nominees have appeared before US Senate Committees giving testimony as they gear up all for confirmation. The drama began when the US Senate Majority Letter sent off this letter:
As we tried to get a sense of the transition, our team picked up this from the First Week in Washington courtesy of a political activist posted on Facebook:
1. Trump fires all Ambassadors and Special Envoys, ordering them out by inauguration day (This came up during the confirmation hearings of Rex Tillerson and apparently a number of them have launched appeals).
2. House brings back the Holman rule allowing them to reduce an individual civil service, SES positions, or political appointee's salary to $1, effectively firing them by amendment to any piece of legislation. We now know why they wanted names and positions of people in Energy and State.
3. Senate schedules 6 simultaneous hearings on cabinet nominees and triple-books those hearings with Trump's first press conference in months and an ACA budget vote, effectively preventing any concentrated coverage or protest.
4. House GOP expressly forbids the Congressional Budget Office from reporting or tracking ANY costs related to the repeal of the ACA.
5. Trump continues to throw the intelligence community under the bus to protect Putin, despite the growing mountain of evidence that the Russians deliberately interfered in our election.
6. Trump breaks a central campaign promise to make Mexico pay for the wall by asking Congress (in other words, us, the taxpayers) to pay for it.
7. Trump threatens Toyota over a new plant that was never coming to the US nor will take jobs out of the US.
8. House passes the REINS act, giving them veto power over any rules enacted by any federal agency or department--for example, FDA or EPA bans a drug or pesticide, Congress can overrule based on lobbyists not science. Don't like that endangered species designation, Congress kills it.
Fortune shared this during its' Daily Notations on what Mr. Trump was up to with Twitter attacks throughout the week:
We also picked this up from the conservative columnist Erick Erickson noting his view of Barack Obama's legacy of Division: