The Trump Economy

The unemployment rate which Trump attributes to tax cuts for corporations and the wealthy.  Looks like this:

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Let’s just sidestep the issue of what the unemployment rate actually counts, aside from that, the chart looks pretty good, right?

Well, how about in Germany?

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How about Canada?

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How about the UK?

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How about mother-fucking Russia?

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How about Japan?

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How about France?

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Trump’s tax cuts for the super wealthy is truly a miracle worker!!!  The same declining chart will be found in most every advanced economy.  Trump is a fucking genius for having affected all the major economies of the world!!!

Seriously, it’s a global trend from 2016-2018, and has exactly jack-shit to do with Trump’s gift to the wealthy.  The overall numbers are different but the trends are so similar you could practically overlay them.

It’s idiotic to say amendments to taxation have an measurable economic effect in the year which they are enacted.  Ridiculous.  These chickens won’t come home to roost until next year at the earliest.  If all things remain as they are, we will not see the full economic effect of US tax cuts until 2020 and beyond…at which point, cult members will be free to blame it on Democrats.  Like many of Trump’s other “policies,” the effects will be felt in years to come and will last a lifetime.

Really, there isn’t any coherent policy with this administration, aside from gathering as much cash as quickly as possible for certain sectors, donors, and the Trump family.  This administrations “policies”  more closely resemble a monkey slapping a keyboard.  For the clearest analogy into what Trump means to the US economy, look into how he single-handedly destroyed the USFL, merrily abusing the cheerleaders the whole time, and walked away from the wreckage without a care in the world.  That will give you particular insight into the nonsensical things he is doing with international trade and diplomacy.

Stock buy-backs (what we all knew was going to happen with all that fabulous cash).

A record setting $178 Billion in the first quarter of this alone.

Michael Patcher, an analyst at Wedbush Securities: “The tax law didn’t do anything to provide an incentive to employers to create jobs. There’s nothing in there that would suggest that employers have a particular incentive to hire more people or pay the ones that they have more money.”

Total S&P 500 shareholder payouts — buybacks plus dividends — for the past 12 months could top $1 trillion for the first time ever, Silverblatt said.

FANTASTIC.

US companies currently using their tax break for stock buybacks, and enjoying the benefits of inflated stock valuations, will move on to mergers, acquisitions, and “efficiencies” to further boost their paper worth.  None of which has to do with improved wages and to the contrary, may lead to the shedding of jobs in certain sectors.  Look to the oil, gas, and coal companies, which this administration has shifted the table to at every fucking turn they can, to begin finding some value from their increased stock prices.  Also banking, which gets a special nod with relaxed regulation, and which was already sitting on record piles of cash before this administration threw them gorgeous piles of more cash.  Entertainment, multimedia, internet companies already sitting pretty have their slice of the pie too to play with if net neutrality remains in place.  These are the winners in the Trump Economy.

Wages.  There has been some slight improvement in average wages lately, but the reason being is because people are working more hours, not because their pay increased.  You’ll notice none of those nifty, tax-cut, cash handouts to employees had anything to do with increased wages.  They were nice for the very small percentage of employees that received them, sure, but no ones standard of living improved and won’t until their wages rise.   If we take a look at non-managerial pay rates per hour, it’s been stagnant since Trump got in office.

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The labor market is tight, and menial jobs that could be filled via relaxed immigration are being attacked through exactly the opposite approach.  For the rest of us, it is possible that we may find a new job easier, but finding a job from which we can effectively survive, has not become any easier.  It’s not likely that is going to change in the Trump economy.

The squeeze on the working poor.  According to the annual report issued this week by the National Low Income Housing Coalition, anyone working full-time at minimum wage cannot afford any housing anywhere in the US.  As it is, Someone working for minimum wage would have to work 122 hours a week in order to afford housing and basic necessities..like food.  Another study found that number too high and pegged it at 99 hours a week, or- two and a half full time jobs.

Add to this, the administrations efforts to undermine the availability and affordability of healthcare, the tightening of availability of nutritional assistance for the poor, and reduction in HUD effort to make housing affordable- and we are looking at a societal catastrophe in the making.

“Rather than address the affordable housing crisis, the administration’s proposed spending cuts for FY19 would, if enacted, lead to the largest reduction in affordable housing and community development investments in decades. The proposed budget could lead to more than 200,000 families losing vital federal rental assistance and to the elimination of programs that support state and local efforts to address their housing needs (NLIHC, 2018a). For the limited number of families that receive federal housing assistance, recent proposals by the administration threaten to undermine their housing stability.
The administration seeks to cut housing benefits by imposing rent increases and arbitrary work requirements. The administration proposes increasing tenants’ contributions toward rent from 30% of adjusted household income to 35% of gross household income, eliminating deductions for medical and childcare expenses, and tripling minimum rents on non-disabled households from $50 per month to $150. These reforms would result in an average rent increase of 44% on households with housing assistance (Fischer, 2018).”

Guess Which states are being hit the worst between average wages and average
housing costs are?

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Sucks to live in a blue state, huh?  This disparity does partially explain why some higher paying jobs in economically advanced blue states can’t seem to get filled- because people can’t afford to live there in this economy.

Good luck finding anyone to work in entry level jobs, the service sector, and general labor sectors in all of the major cities because you’re fucking screwed.

 

November 1, 2017

Trump is inserting himself into more difficulties via twitter, per usual.  His desire to create a militaristic and nativist state is unrelenting.  It’s becoming a trial to keep track of who made which concerning statement in this administration, as well as all of the actions, both overt and undercover of the distractions, that are made by this administration to change the very nature of our democracy.

Recently, the Chief of Staff’s comments about the Civil War were very concerning.  Sarah Sander’s (The Minister of Propaganda) pronouncements from the lectern have been very concerning.  And generally any statement Trump makes about a terror event or lack of thoughtful statement about domestic terror events are very concerning.

This tweet at 7:24 (and subsequent similar tweets):

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Was directly inspired by this Fox and Friends segment at 7:09:

Even though this is an oversimplification of the process and a disingenuous portrayal of all the parties involved…even if just Chuck Schumer or just the Democrats are entirely responsible for the creation of the “Diversity Visa Lottery Program,” it is not the Visa that made this man kill people.  There is no visa program we can create that inhibits people from allowing evil into their hearts.  There is no nation or religion we can ban that will protect us from evil.  The overwhelming majority of our evil is born right here at home and the great majority of the few foreign-born residents that undertake terror here, are radicalized here.

The idea of wanting a wider representation of the world’s people coming to live in our country is a noble idea and one that does not have a place in the Administration’s nativistic desires at all…and therefore is anathema to them.  Count on Fox news to drive home this point for us in the person of the self-proclaimed terrorist expert and Trump lackey, Gorka:

I fucking hate this guy.  Thank God at least one of the Fox newscasters had enough understanding of the topic to somewhat direct him, that he was talking about some of the ancient ideas that are rarely promoted in any sect of Islam.  Gorka manages to whitewash all of Islam with very selective facts and babbles his way through history with zero actual understanding of Islam.  Not to mention Islam’s historical intersection with Christianity and it’s less than stellar past, as well as just about any damn book of the old testament we can point to for the very same war-like and wrong-headed beliefs.  The thing is, Trump cult members eat this shit up..and then they check the twitterer in chief, and yup, Donny is miraculously on the same page and he’ll save us from that war-mongering, anti-christian religion known as Islam.

I covered before this administrations budgetary efforts to: diminish our social programs as well as global social programs, underfund our education and housing programs, and destroy or healthcare and environment,  so that there may be more funding for our military.  The budget that just passed, does just this.  If it isn’t part of the military, it’s getting cut my friends.  This administration clearly wants our involvement in the world to be based around military action, and our interaction with non-whites to be confrontational at best.  It’s not a dog whistle anymore…they’re saying it, allowing it, right out in the open.

Whereas the time to attack foreigners is right here and now…managing the absurd amount of guns we polish and brandish…that time has neither come nor gone…it simply never arises.  That time will never come.  It’s our God given right as damn Americans to kill each other willfully and indiscriminately.  It’s in the Constitution and it says so right there.

October 26, 2017

Yup, the horrible budget passed..with not a single Democrat voting for it in the Senate or House.  The last time a Federal Budget was actually passed was in October of 2015 for the Fiscal year 2016.  That was a bipartisan bill that passed in the Senate 64-35 before being sent to Obama for his signature.  The proposed budget from Obama for fiscal year 2017 was not allowed to reach vote, as the incoming administration pushed congressional Republicans to hold off until Trump could come in and fix things up real good.

Then followed a failed attempt to tie repeal and replace to the budget, which never happened.  The government hasn’t even been running on a fiscal budget since 2016, but had instead been moving along with passed spending appropriations.

“On January 12, 2017, the Senate voted 51 to 48 to pass a FY2017 budget resolution, S.Con.Res. 3, that contained language allowing the repeal of the Affordable Care Act through the budget reconciliation process, which disallows a filibuster in the Senate.[13][19][20] The resulting bill, the American Health Care Act of 2017 was initially publicly released by House Republicans on March 6, 2017.[21] The bill was initially withdrawn on March 24 after it failed to gain sufficient House Republican support to pass it,[22][23] but continuing attempts at compromise led to a new attempt to pass it in early May.[24]
The Trump administration released its preliminary 2018 federal budget request on March 16, 2017. The budget also proposed changes to the BCA spending caps for FY2017, with defense spending increasing by $25 billion (from $551 to $576 billion), and non-defense spending decreasing by $15 billion (from $519 billion to $504 billion).[25]”

The reconciliation process is what led to no requirement for Democrats to be involved whatsoever.  so..here we are.  Now Congress (Republicans only) have the unenviable task of trying to tie tax reform to both unreasonable expectations, as promised by Trump, and a truly ridiculous budget.  I ranted about this earlier here and here.  Good luck fuckers.

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Fox news, as promised, is running with the Hillary Clinton-Uranium deal and the Hillary Clinton-Steele Dossier thingie,  full bore.  Cumulatively it is now known as THE REAL RUSSIAN COLLUSION STORY.  It proves everything every Fox viewer wanted to believe about Hillary Clinton.  She should be impeached NOW!!!

In my unscientific study of Fox news today, from 6am-11am, there was at least one segment or full story about Hillary Clinton EVERY HALF HOUR and they were all subtitled “The Real Russian Collusion Story” by every host.  I’m sure Hannity will continue to dedicate a full hour, every night, to the latest BREAKING NEWS concerning Hillary Clinton.

As far as the details, let’s not jump down the rabbit hole with this stuff.  Currently, Fox would have us believe that Clinton handed 6 million dollars to Steele to give to Russian operatives to dig up dirt on Trump.  Not that Clinton gave a law firm 6 million dollars over the course of almost a year for legal work including background information on their opponent, who in turn gave some money to a research firm, who in turn gave some money to a specialized researcher, who in turn found the information that came to be known as the Steele Dossier which no one in the Clinton campaign even knew about before the FBI did and never used the shit that was in there anyway, if they had it…don’t ya think they would have?  Anyways, that’s neither here nor there.

The only truly interesting part of that story is- the house committee seeking a subpoena to have Fusion GPS bank account information turned over to cover a scope of time well beyond reason and depth of insight well outside the bounds of their search for information on Russian interference in the campaign.  The House investigation has very little to do with Russians or Trump and everything to do with trying to derail the investigation.  A judge is looking at this subpoena right now.  If he allows it to go through, the type of information the House Committee uncovers may very well derail the investigation from it’s supposed focus.  They would be getting information on more customers than Clinton’s lawyers, which is what they actually want right now.  They’d be getting information on Natalia Veselnitskaya.  Natalia Veselnitskaya, the Russian lawyer that meet with Trump Jr. at Trump tower, allegedly to hand over dirt on…Hillary Clinton.

Natalia Veselnitskaya, had hired Fusion GPS, before Perkins Coie, the legal firm Clinton used.   Veselnitskaya hired Fusions GPS to assist her in lobbying to overturn the Magnitsky Act in congress.

“In addition to working on the Katsyv’ s money laundering defense, Ms. Veselnitskaya also headed the aforementioned lobbying campaign to repeal the Magnitsky Act. She hired a number of lobbyists, public relations executives, lawyers, and investigators to assist her in this task.
Her first step was to set up a fake NGO that would ostensibly promote Russian adoptions, although it quickly became clear that the NGO’s sole purpose was to repeal the Magnitsky Act. This NGO was called the Human Rights Accountability Global Initiative Foundation (HRAGI). It was registered as a corporation in Delaware with two employees on February 18, 2016. HRAGI was used to pay Washington lobbyists and other agents for the anti-Magnitsky campaign. (HRAGI now seems to be defunct, with taxes due.)
Veselnitskaya, through Baker Hostetler, hired Glenn Simpson of the firm Fusion GPS to conduct a smear campaign against me and Sergei Magnitsky in advance of congressional hearings on the Global Magnitsky Act. He contacted a number of major newspapers and other publications to spread false information that Sergei Magnitsky was not murdered, was not a whistle-blower, and was instead a criminal.”

from: https://www.theatlantic.com/politics/archive/2017/07/bill-browders-testimony-to-the-senate-judiciary-committee/534864/

Now what do you think the chances are that Fusion GPS didn’t just hire Steele to compile the dossier, what if they also were the ones that directed him to the exact people he needed to talk to gather inside information on Trump?

I’m just guessing here, but that’s starting to look like a possibility.  The other thing about opening up the books on Fusion GPS isn’t just the Russian thing, it’s untold information…people and organizations we don’t even know about yet, people that Congress might not be particularly keen on looking into.  Who knows?  We don’t know what we don’t know : )

As far as the Uranium deal, that’s almost entirely just smoke.  Getting at Clinton this way is a monumental waste of time.  One positive for the House Republicans is that it is a possibility after they waste countless weeks, possible months on this one, they could find some way to marginally discredit Bob Mueller for his original involvement in this.  The whole deal is tangentially related to Tenam corportation, a subsidiary of Rosatom, the company the bought the rights to the Uranium, and a corruption charge they faced under Mueller’s scrutiny.   The Deal was able to go through, despite the presence of the corruption charge and many wonder why.

This is the best House Republicans could hope for, and to them, that would be money and time well spent.

October 24, 2017

Here’s the analogy:

You’ve just received $300k to open a restaurant in the very downtown location you had wanted.  The lending bank hands you a line by line budget that you’ve agreed to follow and you’ve already advertised to your customers what they can expect at your restaurant.  Being the smart person you are, you’ve run the budget numbers and the daily sales forecasts and all fixed costs through your spreadsheets..and you immediately call a meeting with the lending banker, “I can’t make this work…this is not possible.”

And you can’t really, because you’re budgeted to spend $2000 a month on a killer entertainment system you don’t need, but only $25 a month on paper products.  You’re budgeted to spend $300 a month on meats and you’ve already advertised “sirloin steak night every friday night,” and that’s going to cost more in one night that what you’re budgeted for the entire month.  Everywhere you look in the budget, it just doesn’t work.

But here’s the problem, you have to make it work.  You have no choice.  So you start thinking, well….If I don’t hire a head chef…If I only buy 20 chairs instead of 30, If I form ground beef into “sirloin-like” shapes, would anyone know the difference?

That’s kinda like the way Congress approaches “Tax Reform.”  The majority of the unrealistic guidelines are already set.  They look at the end numbers (budget constraints and the promises they already made about how great everything’s going to be) and it really doesn’t work unless they do some awful things.

The bitch is, they really don’t care what the effects are; the only thing that matters is what the end results appear to be on paper.

The NY Times reported on Friday 10/20 that individual monies set aside untaxed for 401ks might be on the chopping block as a source of revenue.  This was leaked by Democrats in Congress so that everyone might know the lengths Congress is going through to make the unmanageable into reality.  It was picked up by every major publication since then, which our man Donny in the Whitehouse, saw at some point and tweeted out:

There will be NO change to your 401(k). This has always been a great and popular middle class tax break that works, and it stays! 

And rightly so… he should demand that.  What this would do, aside from being a money grab to fix the unfixable now, is it pulls down taxable money from the future to this year.  So we take from our future taxable income for the here and now (sounds like the theme of the administration really : ).  The other thing this would do, that perhaps Donny didn’t know, is it would severely diminish those investments now which would ripple through the financial sector and most likely kick the shit out of the Dow Jones Industrial Average that Trump likes to mention daily.

Bob Corker basically responded, “Mind your own business kid; let the adults figure out the numbers.”  Donny saw that video this morning and took to twitter right away to lash out like a petulant child.

Bob Corker, who helped President O give us the bad Iran Deal & couldn’t get elected dog catcher in Tennessee, is now fighting Tax Cuts….

…Corker dropped out of the race in Tennesse when I refused to endorse him, and now is only negative on anything Trump. Look at his record!

Isn’t it sad that lightweight Senator Bob Corker, who couldn’t get re-elected in the Great State of Tennessee, will now fight Tax Cuts plus!

Sen. Corker is the incompetent head of the Foreign Relations Committee, & look how poorly the U.S. has done. He doesn’t have a clue as…..

…the entire World WAS laughing and taking advantage of us. People like liddle’ Bob Corker have set the U.S. way back. Now we move forward!

(Donny’s schedule for today is booked solid from 11am-2:05pm, so he tweeted until they came to get ’em! expect more when he gets back after putting in those 3 hours of work)

Corker is right to try to keep Trump out of the business of governing that he doesn’t understand.  The only thing Trump is interested in is making himself look good with having something…anything to sign and getting good ratings!  To anyone that still thinks Trump has any idea what is going on in the world around him, let alone in the intricacies of policies, I submit all of Trump’s input on Healthcare reform from the after the House debacle to the end of the Senate Debacle (all of this took form on twitter, because in reality the dude honestly didn’t give a shit and never talked about it in any depth whatsoever.  His main concern was having something to sign and undermining the ACA every chance he could):

June 22: I am very supportive of the Senate #HealthcareBill. Look forward to making it really special! Remember, ObamaCare is dead.
 June 26: Republican Senators are working very hard to get there, with no help from the Democrats. Not easy! Perhaps just let OCare crash & burn!
June 28: Some of the Fake News Media likes to say that I am not totally engaged in healthcare. Wrong, I know the subject well & want victory for U.S.
June 30: If Republican Senators are unable to pass what they are working on now, they should immediately REPEAL, and then REPLACE at a later date!
July 10: I cannot imagine that Congress would dare to leave Washington without a beautiful new HealthCare bill fully approved and ready to go!
July 12: The W.H. is functioning perfectly, focused on HealthCare, Tax Cuts/Reform & many other things. I have very little time for watching T.V.
July 14: Republicans Senators are working hard to get their failed ObamaCare replacement approved. I will be at my desk, pen in hand!
July 17: Republicans should just REPEAL failing ObamaCare now & work on a new Healthcare Plan that will start from a clean slate. Dems will join in!
July 18: We were let down by all of the Democrats and a few Republicans. Most Republicans were loyal, terrific & worked really hard. We will return!
July 18: As I have always said, let ObamaCare fail and then come together and do a great healthcare plan. Stay tuned!
July 19: I will be having lunch at the White House today with Republican Senators concerning healthcare. They MUST keep their promise to America!
July 19: The Republicans never discuss how good their healthcare bill is, & it will get even better at lunchtime.The Dems scream death as OCare dies!
July 22: ObamaCare is dead and the Democrats are obstructionists, no ideas or votes, only obstruction. It is solely up to the 52 Republican Senators!
July 23: If Republicans don’t Repeal and Replace the disastrous ObamaCare, the repercussions will be far greater than any of them understand!
July 24: Republicans have a last chance to do the right thing on Repeal & Replace after years of talking & campaigning on it.
July 25: ObamaCare is torturing the American People.The Democrats have fooled the people long enough. Repeal or Repeal & Replace! I have pen in hand.
.July 25: @SenJohnMcCain-Thank you for coming to D.C. for such a vital vote. Congrats to all Rep. We can now deliver grt healthcare to all Americans!
July 26: Senator @lisamurkowski of the Great State of Alaska really let the Republicans, and our country, down yesterday. Too bad!
July 27: 3 Republicans and 48 Democrats let the American people down. As I said from the beginning, let ObamaCare implode, then deal. Watch!

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No one wants to see the same type of uninformed drivel from Trump concerning tax reform.  Thing is, as it currently stands, there’s no reasonable solutions to the quandry our government has now put itself in.  We’re going to be eating ground beef pressed into the shape of sirloins no matter what and not everyone is going to have a chair to sit on, but damn, the entertainment system will be rocking.

October 23, 2017

As far as I can tell, this is Trump’s schedule for today:

“President Donald Trump will greet Prime Minister Lee Hsien Loong of Singapore, meet with him, and have a working luncheon with him. The President and Prime Minister will then give joint statements.

Later in the afternoon, the President will present the Medal of Honor.”

Trump tweets at 7:53am

Two dozen NFL players continue to kneel during the National Anthem, showing total disrespect to our Flag & Country. No leadership in NFL! 

To bolster this Fox and Friends segment at 7:09am:

“A call was put out”…and “people are saying” we should all boycott the NFL on 11/11.  I found who the “people” are: Mainstreet Patriots, headed by Debbie Dooley.

National tea party movement co-founder, Debbie Dooley states, “These rallies are inclusive, non-partisan, and open to anyone supporting President Trump…”  Her inclusive, non-partisan website has a feed to Trump’s twitterings and unabashedly supports any dumb-ass thing he says.  Debbie Dooley protesting CNN for their biased, unfair!!! reporting on Trump’s behalf. >

“This time it was joined by The Media Equality Project, a group started recently by two former talk show hosts who are friends with conservative commentator Sean Hannity.   One of the organizers — Debbie Dooley, co-founder of the Tea Party activist group Main Street Patriots — said her group was outside CNN a month ago and would be back in August and September.”

Those are the “people” desperate to keep this story relevant along with the help of Fox news.

In her Brietbart news interview, she mentioned:

“We are not Democrats or Republicans, we are simply fans,” and, “I urge patriotic Americans to exercise their First Amendment rights and boycott the NFL and their sponsors,” Dooley said.

That’s hysterical and has to be a poster child for the word irony.

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This past Sunday 22nd, about one week after Bill Browder helped push a law in Canada, similar to the US Magnitsky act, Russia managed to get Bill Browder’s name on Interpol’s wanted list.  This is the fifth time Putin has attempted this.  Don’t doubt this is direct retaliation against Browder for the creation of the Magnitsky act, which the US, Britain and now Canada have versions of.

Magnitsky himself was killed in a Russian prison.  Other people involved in this story have, throughout the past couple years, been shot, poisoned, and thrown off buildings.  What do you think Putin would like to do if he could have Browder extradited back to Russia, hm?

This story is kind of an overview of everything so far about Russia’s interests in the US.  Highlighted with a big ol’ sharpy and exclamation points, because the very day Russia got Browder’s name on the Interpol list, is the very same day the US inexplicably revoked his Visa to the US.

“Yes. My US Global Entry was revoked on the same day and United wouldn’t let me board a flight to US b/c of visa problems”

“Russia used loophole called a diffusion notice to bypass Interpol HQ to get warrant for me after 4 prior rejections”

“Couldn’t get more absurd. Russian authorities are accusing me & unknown MI6 agent of murdering Sergei Magnitsky”

“Not only did Putin add me to the Interpol list, but the US simultaneously revoked my visa. explains”

I could try to type out all of what’s going on here.  Trust me when I say, pretty much all of the big players in the whole “Russia Collusion” story are involved.  To get an idea what is going on, you need to read Bill Browder’s prepared statement for his congressional interview regarding Russian interference.  This is required reading.  There’s no clear answer as to why his Visa was revoked, other than possibly coordinated spite (between Putin and Trump administration).  This can easily be shrugged off by Homeland Security.  I can think of several ways to justify it and deny any wrong doing.

Outside of that, when you read his statement, it will all be clear…pretty much.

 

ADDED 3:10 Pm.  John McCain calling for an immediate review of how Browder’s visa came to be revoked.

Shit’s moving fast.  I get the feeling this is going to be updated several times today : )