* It looks like the Republicans on Capitol Hill, with the blessing of Donald Trump, are trying to repeal one big healthcare program and replace it with another big government entitlement

* They're calling it TrumpCare

* First they were calling it ObamaCare Lght, but now they're embracing the term, "TrumpCare"

* Whatever it is, it is not going to work

* It's just going to be another disaster wrapped up in a different package

* But before I get into explaining this, I want to talk a little bit about the GDP numbers and the Atlanta Fed

* In my last podcast, I mentioned that even though the Fed was getting closer to the point at which it was going to raise interest rates again

* Even though it was talking tough on raising rates, the GDP estimates were collapsing

* Well, they collapsed again today

* Now the same Atlanta Fed that was at 1.8% for Q1 GDP is now at 1.3% as of today

* When we began the month of February -

* February 1st - they were looking for 3.4% GDP for the first quarter

* If you go back and listen to my podcast, at the time I recorded it

* I said, they're kidding. They've got to be crazy - there's no way we're going to get 3.4%

* They're going to have to come down, and that's all they've done

* And now we're at 1.3% and falling

* Now maybe part of that is because we got the worst trade deficit today in 5 years

* Although, I think the numbers were highly anticipated so I don't know why that would have come as a surprise

* And we got Consumer Credit for December and it was a huge drop in the increase of credit card debt

* Meaning that consumers took on a lot less credit card debt than Wall Street expected

* Now that's a good thing

* I don't like it when Americans go deeper into debt to buy stuff

* You've got a bubble economy that's 7%, people buying stuff they can't afford



Our Sponsors:
* Check out DeleteMe: https://deleteme.com/GOLD
* Check out Fast Growing Trees: https://fastgrowingtrees.com/gold
* Check out Kinsta at https://kinsta.com to get your first month free today!
* Check out NPR: https://npr.org
* Check out Vanta and use my code SCHIFF for a great deal: https://www.vanta.com


Privacy & Opt-Out: https://redcircle.com/privacy