Trump Watch: Day 14 Wrap-Up

Buckle up, Trump watchers…there was a lot of news on Friday, February 3:

— The President signed two executive orders today designed to reverse financial regulations put in place by President Obama after the financial crisis in 2008. The first order calls for a review of the provisions of the Dodd-Frank Act, which regulates U.S. financial institutions. The second order attempts to rescind or revise President Obama’s Fiduciary Rule, which is “a basic consumer protection that can prevent brokers from taking advantage of vulnerable clients” according to the New York Times. If rescinded, it means that financial advisers would not have to act in the best interests of their clients.
Also, this USA Today article provides a great explanation of Dodd-Frank:

— In the Day 12 wrap-up, I noted that the White House issued a verbal warning to Iran because of their missile testing. Today, Trump’s administration announced new sanctions for 13 individuals and 12 entities who supported the missile program, support Iran’s Islamic Revolutionary Guard Corps, and/or have ties to terrorism. NPR reports that the sanctions are in line with those previously imposed by President Obama. A statement by Iran’s Foreign Ministry responded, saying Iran “will take action against a number of American individuals and companies that have played a role in generating and supporting extremist terrorist groups in the region or have helped in the killing and suppression of defenseless people in the region.”
Here is the NPR article referenced above:

— Several news outlets reported today that Trump’s immigration ban resulted in 60,000 revoked U.S. visas. These were valid visas issued from the U.S. Department of State that people relied on to travel to the U.S., and now they have been told that their visa is no longer valid. Additionally, there are thousands inside the United States from the seven banned countries who, if they left the country, would not be allowed back in. As this article points out, some believe the number of revoked visas to be higher at 100,000:

— As I am writing this post, news just broke that a Federal judge in the state of Washington ruled to halt Trump’s immigration ban executive order nationwide. Meanwhile, a Federal judge in Boston “refused to extend a temporary order that allowed some people affected by Trump’s ban to enter the country” today. This is a developing story and there is not much information out about it yet. Stay tuned to tomorrow’s Trump Watch report, where I will include any additional details that emerge. The following link will likely be updated with new information when it is available:

— Trump’s wall between the U.S. and Mexico was back in the news today, as several Republicans in Congress have become increasingly uncomfortable with the idea of the wall due to its cost. According to CNN, “Many bluntly told CNN they’d likely vote against any Trump plan that is not fully offset with spending cuts, while others questioned whether Trump’s vision would adequately resolve the problems at the border.” This will be an interesting story to follow.

— After two weeks in office, Trump faces more than 50 lawsuits. Of those, 40 are related to his executive order on refugees and immigration, nine relate to civil rights, four are related to general immigration issues, one relates to financial conflicts of interest, and one relates to federal funds to sanctuary cities. Comparing Trump to the previous three Presidents, the number of lawsuits against him is FAR greater — Barack Obama had five in his first two weeks, George W. Bush had four, and Bill Clinton had five.

— While we’re on the subject of comparing Trump to his predecessors, the President’s new approval ratings were reported today, and he currently has the highest disapproval rating of any other president after two weeks in office. His disapproval rating is a whopping 53%, and his approval rating is 44%. CNN reports “Trump is the only President to hold a net-negative rating this early in his tenure.” In comparison, President Obama had a 76% approval rating after his first two weeks in office (the highest of any president since approval ratings began), President Kennedy had 72%, Eisenhower 68%, Carter 66%, Nixon 59%, Clinton 59%, George W. Bush 58%, Bush 57%, Reagan 51%, and then Trump at 44%.

— Finally, Reuters reported today that 9.2 million Americans signed up for Obamacare during the recent open enrollment period. Although this number was down from the 9.7 million who signed up for it last year, it was still higher than predicted, especially amidst Trump’s efforts to repeal the Affordable Care Act. According to the Reuters article, Republicans still have not come up with any plan to replace Obamacare.

Stay tuned for another report tomorrow!