Trump: My agenda is 'substantially ahead of schedule' - CNBC News

Trump: My agenda is 'substantially ahead of schedule'

The president told an audience of conservatives Friday that he doesn't keep a schedule, but if he did, he'd be "substantially" ahead of it.

While Trump may not have a schedule anymore, the Contract with the American Voter he released in 2016 laid out his priorities, many of which are still on the table today.

On issues like health care and education, Trump has found ways to work around Congress, whose members he said had "forgotten what their pledges were."

Christina Wilkie | John W. Schoen

Published 5:48 PM ET Fri, 13 Oct 2017 Updated 7:06 PM ET Fri, 13 Oct 2017

CNBC.com

Trump: ACA subsidies a payoff to insurance companies Trump: ACA subsidies a payoff to insurance companies

2:35 PM ET Fri, 13 Oct 2017 | 02:17

"I don't have a schedule, but if I did have a schedule, I would say we are substantially ahead of schedule," President Donald Trump told an enthusiastic crowd of conservatives Friday at the annual Values Voter Summit in Washington.

"In the last 10 months we have followed through on one promise after another," he said, touting recent stock market gains, regulatory rollbacks and the success of a military campaign against ISIS among his accomplishments.

But while Trump may not have a schedule anymore, there was a time when he did. During the final months of the 2016 presidential campaign, then-candidate Trump released a two-page Contract with the American Voter, reminiscent of former House Speaker and Trump campaign advisor Newt Gingrich's 1994 Contract with America.

The contract contained "six measures to clean up the corruption and special interest collusion in Washington, D.C.," "seven actions to protect American workers," and "five actions to restore security and the constitutional rule of law." It also listed 10 hypothetical pieces of legislation that Trump pledged to "work with Congress to introduce" and "fight for their passage."

Trump: Dems should come to White House to negotiate health care Trump: Dems should come to White House to negotiate health care

2:19 PM ET Fri, 13 Oct 2017 | 01:56

At the time of its release, Trump pledged to do all those things in the first 100 days of his presidency. When that deadline came and went in early April, CNBC made the chart below, highlighting in green the contract items that Trump had achieved so far, and in red, the promises he had yet to keep. Now, six months later, all 28 of the red and green highlights on the chart still apply.

To be sure, a number of the president's accomplishments in office were never part of the contract, including successes in the war on ISIS and double-digit gains in major market indexes. But others goals have had to be reworked, like Trump's pledge, on page two, to enact a "Repeal and Replace Obamacare Act."

Speaking to the Values Voters Summit on Friday, Trump blamed the legislative defeat of two Obamacare repeal bills on members of Congress, who Trump said had, "forgotten what their pledges were."

"We're taking a little different route than we had hoped because getting Congress — they've forgotten what their pledges were," Trump told the crowd, made up largely of evangelical Christians. "So, we're going a little different route, but you know what, in the end, it will be just as effective and maybe it will even be better."

In the past 48 hours, the president has taken two major steps toward unraveling the Affordable Care Act known as Obamacare. The first was to sign an executive order permitting employers to purchase inexpensive, loosely regulated health plans; the second was to cut off subsidies paid to insurers that reduced the premiums for low-income Americans.

Trump: Iran has not treated us with respect Trump: Iran has not treated us with respect

2:34 PM ET Fri, 13 Oct 2017 | 02:28

"It is step by step by step," Trump said. "And that was a big step yesterday, another big step was taken the day before yesterday, and one by one it is going to come down, and we're going to have great health care in our country."

Another legislative item on the Contract with American Voters is a "School Choice and Education Opportunity Act," which Trump said would "give parents the right to send their kid to the public, private, charter, magnet, religious or home school of their choice," while reducing the cost of higher education and ending the education standards approved by individual states, known collectively as Common Core.

Trump has yet to sign any such a bill. But much like he is doing on health care, the president has used his executive powers to take steps that further the goals outlined in the contract. His pick for Education secretary, Betsy DeVos, is a prominent school choice advocate, and this summer he signed an executive order expanding apprenticeships, as a way to prepare more young people for jobs after high school.

The president has so far failed to pass much of the legislation he had planned last fall, from child care tax exemptions and tariffs to discourage corporate offshoring, to a massive infrastructure bill that's still far out on the horizon.

However, Trump's most recent executive actions — one ending health-care subsidies and another decertifying the Iran nuclear deal — are showing the public and the president that there's more than one way for Trump to accomplish his goals. Going forward, executive branch fixes for Trump's legislative wish list could become the norm in the nation's capital.

How Trump can end North Korean nuclear threat - CNBC News

How Trump can end North Korean nuclear threat

The White House is debating whether to have President Trump visit the Korean DMZ.

President Trump should go and join some of his predecessors who made historic speeches in the face of Communist aggression.

The world needs to hear a clear message from this president backed up by his presence right at the front line.

Jake Novak | @jakejakeny

Published 11:25 AM ET Fri, 20 Oct 2017

U.S. and South Korean soldiers, foreground, and North Korean soldiers, background, stand guard next to the meeting rooms that straddle the border between the two Koreas in the truce village of Panmunjom in the Demilitarized Zone (DMZ) in Paju, South Korea, on Monday, April 17, 2017.

A debate is reportedly raging inside the White House over whether President Donald Trump should visit the demilitarized zone along the North Korean border during his upcoming 12-day trip to Asia. Some administration sources tell the Washington Post they worry the visit would only heighten tensions in the region and they fear for Mr. Trump's overall safety.

But really there is no question that the president must go to the DMZ, and here's why:

Let's start with the historically rare chance to make a dramatic statement for freedom and peace. When they're done right, they can make an enormous difference.

In 1952, Dwight D. Eisenhower famously vowed: "I shall go to Korea!" His statement cheered a nation becoming ever more disconcerted by the Korean conflict. It helped sweep him to victory in the presidential election just two weeks later. And it set the stage for a peace deal the following year.

In 1963, President John F. Kennedy visited a besieged Berlin at the height of the Cold War and delivered his famous line: "Today, in the world of freedom, the proudest boast is "Ich bin ein Berliner!" That bolstered American resolve and West German spirits, and finally convinced Soviet Premier Nikita Khruschev that JFK was not the weakling he thought he was after their first meeting in Vienna in 1961.

"Now it's 2017, and North Korea, South Korea, and the entire world need to see and hear a clear message of American resolve in the face of tyranny and nuclear brinksmanship."

And in 1987, President Ronald Reagan stood at a spot at the Berlin Wall near where Kennedy stood in 1963 and delivered the famous line: "Mr. Gorbachev, tear down this wall!" And just over two years later, the Berlin Wall indeed fell.

Now it's 2017, and North Korea, South Korea, and the entire world need to see and hear a clear message of American resolve in the face of tyranny and nuclear brinksmanship. Otherwise, the kind of blackmail Kim Jong Un is trying to orchestrate may never end or could be copied by the world's other rogue nuclear club members.

Remember that a big part of the North Korean nuclear threat has been based on that nation's desire (along with a similar hope from a more adventuresome China) to somehow drive the U.S. military presence further from the region. And while increasing our military presence in the South China Sea and closer to the Korean Peninsula will go a long way towards proving that Pyongyang's gambit is a loser, the world needs something more than increased naval and air force deployments. It needs a strong message from the most listened-to man in the world right now.

Sure, President Trump often seems like he belongs more on an episode of TMZ than making an appearance at the DMZ. But he's still the Commander-in-Chief of the most powerful armed forces on the planet. First, stepping out from behind his twitter account and speaking in front of the 37,500 American personnel stationed there will at least give them the message they need to hear as they face what is a growing threat every day. And that message is that their country and its leader haven't forgotten them.

Second, it will continue to portray President Trump as unafraid in the face of personal danger. The White House might want to leak a few more of those reports about fears for his safety just to play this up even more. For all his bravado and threats, would Kim Jong Un make a speech at his side of the DMZ and allow the free news media to cover it? Not likely.

A speech at the DMZ would give President Trump another chance to make his case for standing up to Kim without resorting to insults.

So, what should he say exactly?

President Trump must simultaneously stare down Pyongyang's threats and assure the North Koreans and the rest of the world that we seek peace as the best alternative. Perhaps President Trump's memorable line could be: "Mr. Kim drop your weapons and embrace peace."

Appealing to the basic needs of the North Korean people is the most important key to any Trump message. Now that China is coming more and more on board with trying to defuse the situation, conditions in the regime appear to be particularly dire. These economic challenges paired with the clear symbol of U.S. resolve in the form of a Trump visit and speech at the DMZ could be all that's needed to get Pyongyang to make a major concession.

And comparing what will and won't work for North Korea is so important, because there's little evidence that the Trump team is really set on forcing regime change or pushing for a reunification of the Korean peninsula. In return for humanitarian aid on a massive scale, President Trump should demand a reasonable dismantling of Kim's nuclear program and a reliable and permanent inspection program.

And there's one more thing President Trump should demand: Access. Somewhere in that speech, he should challenge Kim to allow the North Korean people to hear his words without any filters or prior editorializing by Pyongyan's censors. "Mr. Kim, let your people hear my message of peace and freedom or forever resign yourself to the ranks of the enemies of freedom and decency."

No, even the most eloquent and stirring speech from this president won't suddenly reverse his low approval ratings and usher in some kind of American unity behind the White House. But it should provide something perhaps even more valuable for everyone: Clarity. Because it's been the president's many mixed and oftentimes fuzzy messages that may be hurting him more than any one controversy.

Of course, the other possibility is that the North Korean regime can only be forced to back down by military means. But that only makes a possible presidential trip to the DMZ more important. The troops who would be asked to go into harm's way at least deserve the courtesy of not only a personal visit from President Trump but a clear explanation of the purpose of their mission.

The hard truth is that the North Korean nuclear problem is the biggest and most immediate threat to the free world right now. And if the leader of the free world doesn't take his best opportunity to prove he is not afraid to stand up for freedom and real peace, then all of our troubles will only multiply in the months and years to come.

Commentary by Jake Novak, CNBC.com senior columnist. Follow him on Twitter @jakejakeny.

Trump says popular retirement program will be unscathed in tax plan - Reuters

Trump says popular retirement program will be unscathed in tax plan

Susan Heavey, Ginger Gibson

WASHINGTON (Reuters) - President Donald Trump on Monday dismissed the possibility of curbing a popular tax-deferred U.S. retirement savings program to help pay for his sweeping tax cuts, and voiced doubts about adding another top bracket targeting the wealthiest Americans.

The potential scaling back of 401(k) plans, which for four decades have helped millions of workers save for retirement, is one of several important details yet to be ironed out in a major tax overhaul that Trump promised as a candidate and wants his fellow Republicans who control Congress to pass by year’s end.

The White House and its congressional allies have floated the idea of paring certain tax deductions to make up for revenue that would be lost because of their proposed tax cuts, the centerpiece of which is a sharp reduction in the corporate income tax rate.

The Wall Street Journal and the New York Times reported on Friday that Republicans were considering an annual cap of about $2,400 on pre-tax contributions to 401(k) plans, roughly 13 percent of what workers under age 50 currently can contribute on a tax-deferred basis. That would slash the amount of money that workers can save for retirement in 401(k) plans, which typically are invested in a portfolio of mutual funds.

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

Tampering with 401(k) plans, which have largely replaced defined benefit pensions in the United States, would risk alienating tens of millions of workers as well as Wall Street, which generates fees from managing the plans. Many companies match a percentage of their employees’ 401(k) contributions.

It also would provide ammunition to Democrats, who have painted Trump’s plan, with its $6 trillion in tax cuts, as a gift to the rich and corporate America that would balloon the federal deficit.

Senator Ron Wyden, the top Democrat on the tax-code writing Senate Finance Committee, criticized Republicans for not making decisions on issues related to middle-class taxpayers, while having already decided to cut taxes for corporations.

“I am really struck with how the Republicans are handling this question of retirement accounts, which are a real lifeline for working families and as of this moment, it is still not clear whether they are going to include a really bad idea that would make it harder for working families to prepare for retirement,” Wyden said.

More than 94 million Americans are covered by defined contribution plans like a 401(k), according to a recent study by asset manager Vanguard. Total assets in such plans exceed $7 trillion.

NEW TAX BRACKET?

Securing congressional passage of his tax plan is critically important to Trump, who has yet to get major legislation through Congress since taking office in January, including a healthcare overhaul he promised as a candidate last year.

The White House argues that tax cuts are needed to boost economic growth and create jobs, but has shown sensitivity in recent weeks to arguments that it is endangering America’s long-term fiscal health.

Based on the outline of the plan that was unveiled last month, independent experts have concluded that corporations and the highest earners would benefit the most, and many upper middle-income people would face higher taxes.

There are signs Republicans may add a fourth income tax bracket for high earners to the tax blueprint, which envisions reducing the number of brackets to three from the current seven.

The idea of an additional top tax bracket was floated by Republican House of Representatives Speaker Paul Ryan.

In an interview broadcast on Fox Business Network on Monday, Trump appeared to pour cold water on the idea.

“It may not happen,” Trump said. “The only reason I would have (it) ... is if for any reason I feel the middle class is not being properly taken care of.”

There is also pressure from investors to pass the tax overhaul. The expectation of deep tax cuts has helped fuel a stock market rally during Trump’s first year as president, with the broad S&P 500 index up more than 13 percent.

The index hit record highs every day last week, although it retreated on Monday.

“The question becomes what happens if tax reform doesn’t happen in 2017, does the market sell off into the year-end?” said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management in Chicago.

Trump is expected to participate on Tuesday in Senate Republicans’ weekly policy lunch. He said he would press the lawmakers to act on taxes and that he thinks there are enough votes to pass the plan. While its broad parameters have been made public, the detailed legislation has not yet been unveiled.

Democrats have urged Trump to include them in the development of the legislation. The Republican blueprint was devised without Democratic input. The last major tax restructuring, Republican former President Ronald Reagan’s 1986 overhaul, received significant input and support from Democrats.

Reporting by Susan Heavey and Ginger Gibson; Additional reporting by Susan Cornwell and Amanda Becker; Writing by Paul Simao; Editing by Will Dunham and Peter Cooney

China congress: No heir apparent as Xi reveals top leadership - BBC News

China congress: No heir apparent as Xi reveals top leadership

President Xi Jinping led out the new seven-member Standing Committee

China has revealed its new senior leadership committee, breaking with tradition by not including a clear successor to President Xi Jinping.

The omission cements Mr Xi's grip on China for the next five years and possibly beyond, a day after his name was written into the constitution.

Five new appointments were made to the seven-member Politburo Standing Committee, China's most powerful body.

The absence of an heir raises questions over how long Mr Xi intends to rule.

How the line-up was unveiled

Apart from 64-year-old Mr Xi, premier Li Keqiang, 62, was the only committee member to retain his position.

Standing committee

Presentational white space

Chinese leaders have in recent decades hinted at one or more possible heirs to the Standing Committee at the beginning of their final term, indicating a clear line of succession.

There had been speculation that Mr Xi would elevate his protégé Chen Miner and Guangdong party secretary Hu Chunhua, both of whom are in their 50s - young enough to be credible successors.

But the six dark-suited men who walked out on stage on Wednesday were all in their 60s and are all likely to retire at the end of this five-year term.

The absence of any younger members will fuel speculation about Mr Xi's long-term intentions and his eventual successor.

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Media captionXi Jinping asks a tough question about Xi Jinping at party congress

There had been rumours that Mr Xi would reduce the size of the Standing Committee from seven to five, further tightening his control, but they proved unfounded.

Several international news organisations, including the BBC, Financial Times and The New York Times were denied access to the announcement, at Beijing's Great Hall of the People.

The Foreign Correspondent's Club of China said in a statement it was "gross violation of the principles of press freedom".

What does this mean for China's leader?

The apparent absence of potential successors in the Standing Committee consolidates power with Mr Xi for the next five years, and points to a continued role for him after 2022.

The party voted on Tuesday to enshrine Mr Xi's name and ideology into its constitution, elevating him to the level of the party's founding father, Mao Zedong.

The unanimous vote by delegates to incorporate "Xi Jinping Thought" into the constitution significantly strengthens Mr Xi's political control of the country, making him essentially unassailable. It is also likely to ensure him continued power and influence long after his eventual retirement.

Elected president in 2012, Mr Xi began his second five-year term as of this year's congress.

In recent history, Chinese leaders have served 10-year terms, but Mr Xi could technically stay on after 2022 as party chief and head of the military, allowing him to wield influence over the country's leadership beyond the end of his presidency.

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How has Xi changed China?

Graphic showing five highlights of Mr Xi's five years in office 1. expanding Chinese interests 2. coping with slowing economy 3. purging officials 4. Heightened tensions over Hong Kong's future 5. Ending on-child policy

Mr Xi's has assumed an unprecedented number of positions since coming to power in 2012, including the title of a "core" leader of China.

His first term has been marked by significant development, a push for modernisation and increasing assertiveness on the world stage.

It has also seen growing authoritarianism, censorship and a crackdown on human rights.

He has spearheaded a sweeping anti-corruption campaign which has seen more than a million officials disciplined. It has been seen by some as a massive internal purge of opponents.

Presentational grey line

What is 'Xi Jinping Thought'?

At first glance, "Xi Jinping Thought" may seem like vague rhetoric, but it describes the communist ideals Mr Xi has continuously espoused throughout his rule.

Its 14 main principles emphasise the Communist Party's role in governing every aspect of the country, and also include:

A call for "complete and deep reform" and "new developing ideas"

A promise of "harmonious living between man and nature" - this is a call for improved environmental conservation, and could refer to the stated aim to have the bulk of China's energy needs supplied by renewables

An emphasis on "absolute authority of the party over the people's army" - which comes amid what analysts call the largest turnover of senior military officials in modern Chinese history

An emphasis on the importance of "'one country two systems" and reunification with the motherland - a clear reference to Hong Kong and Taiwan

Presentational grey line

China's 'new era'

The change to the constitution puts Xi Jinping (left) on par with party founder Mao Zedong (right)

China's plans for a new leadership unfold in great secrecy and the only certainty was party chief Xi Jinping.

China has suffered many succession struggles and the absence of a next generation leader will trigger speculation over how long Xi Jinping intends to rule.

As for the exclusion of several foreign news organisations, no official reason was given. But unofficially journalists were told their reporting was to blame - a sign of China's growing determination to control the message at home and abroad.

Bob Corker's 9 most devastating lines on Donald Trump in his CNN interview, ranked - CNN News

Bob Corker's 9 most devastating lines on Donald Trump in his CNN interview, ranked

Chris Cillizza

Analysis by Chris Cillizza, CNN Editor-at-large

October 24, 2017

Two GOP senators speak out against Trump

Corker: Senate will get to the bottom of hack

Chairman Bob Corker (R-TN) questions Secretary of State John Kerry, during a Senate Foreign Relations Committee hearing, on Capitol Hill February 23, 2016 in Washington, DC.

Sen. Corker on Flynn resignation

Corker: Leaders know what Trump says is untrue

Corker's biggest Trump criticisms (so far)

Sen. Bob Corker (R-TN) speaks to reporters on Capitol Hill May 10, 2017 in Washington, DC. Senators from both parties are scrambling to react to President Donald Trump's surprise dismissal of FBI Director James Comey.

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Corker's tumultuous relationship with Trump

Conway

Conway's double standard on Trump's tweets

Bannon calls for Sen. Bob Corker to resign

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The White House is pictured on January 19, 2013 in Washington DC.

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Corker: Senate will get to the bottom of hack

Chairman Bob Corker (R-TN) questions Secretary of State John Kerry, during a Senate Foreign Relations Committee hearing, on Capitol Hill February 23, 2016 in Washington, DC.

Sen. Corker on Flynn resignation

Corker

Corker: Leaders know what Trump says is untrue

Corker's biggest Trump criticisms (so far)

Sen. Bob Corker (R-TN) speaks to reporters on Capitol Hill May 10, 2017 in Washington, DC. Senators from both parties are scrambling to react to President Donald Trump's surprise dismissal of FBI Director James Comey.

Trump wrong on Bob Corker and Iran Deal

Corker's tumultuous relationship with Trump

Conway

Conway's double standard on Trump's tweets

Bannon calls for Sen. Bob Corker to resign

Corker: Tillerson not getting support he needs

Washington (CNN)Hours before Donald Trump was set to huddle with Senate Republicans to rally support for his tax cut measure, Tennessee Sen. Bob Corker delivered an absolute bludgeoning of the President. And even that may be an understatement.

In an interview with CNN's Manu Raju, Corker said the President consistently doesn't tell the truth, dodged on whether Trump should have the nuclear codes, said Trump wasn't a role model for children, said he would not ever support him again and repeatedly suggested that Trump "debases" the country.

It was something else. Below, I've picked the nine roughest Corker lines and ranked them from least to most devastating.

9. "The shame of it is, there are some some really good people around him, and if he would stay out of their way and let them perform, people like (Rex) Tillerson and (James) Mattis and others, we could really make progress on things that matter greatly to our country."

Think about this. Corker is saying that if only Trump would get out of the way, Republicans could actually get some things done. He views Trump as the main impediment to getting things done in Washington. And this is the least damning thing Corker said about Trump in his interview with Manu!

8. "I would hope the staff over there would figure out ways of controlling him when they know that everything he said today was absolutely untrue."

This echoes Corker's comments about the White House functioning as an "adult daycare center" in which the job of lots of smart and serious people is to keep the President from doing anything truly destructive to the country. Rather than doing the work of the country, Corker suggests, the main focus of the White House is managing the President's moods and tempers.

7. "Four times he encouraged me to run and told me he would endorse me. I don't know. it's amazing."

Corker, again, is noting that he believes Trump is lying about the nature of their conversation last month at the White House. Trump continues to insist Corker begged for his endorsement and said he couldn't win -- and would have to retire -- without it. Corker has consistently argued that Trump not only asked him to run again but offered to endorse him and campaign with him. Someone is lying. And, based on track record, I think we have a pretty good idea who it is.

6. "I think that he's proven himself unable to rise to the occasion ... I don't think that that's possible. He's obviously not going to rise to the occasion as president."

This quote comes in the context of Corker telling Manu about dinners and meetings that he and other Republican senators have had with Trump in which they urged him to moderate some of his natural bomb-throwing tendencies. He didn't. And, according to Corker, he won't. This is as good as it gets, Corker is saying. Which is pretty damning.

5. "The President has great difficulty with the truth. On many issues."

Corker wouldn't call Trump a "liar" in the interview with Manu. But he did everything but. The quote above suggests that Corker believes Trump's natural state is to not tell the truth. Related: Corker is talking about the President, aka the single most powerful person in the country.

4. "I don't know why he lowers himself to such a low, low standard, and debases our country in a way that he does, but he does."

That word "debase" is a powerful one. It means, quite literally: "To reduce in quality or value; adulterate." So what Corker is saying is that Trump is tarnishing the country by the way he acts and what he says. Wowza.

3. "We are going to be doing hearings on some of the things that he purposely is breaking down, relationships we have around the world that have been useful to our nation."

What exactly does this mean? Corker, as chairman of the Senate foreign relations committee, is going to hold hearings seeking accountability for the decisions Trump has made as President? He is going to hold hearings aimed at restoring trust between the US and our traditional allies? Something else? No matter what, it's a big deal.

2. "I think world leaders are very aware that much of what he says is untrue."

Remember that this is the GOP head of a major Senate committee speaking. Corker isn't popping off. He actually talks to world leaders and, presumably, knows of what he speaks. Consider then what this means: World leaders -- our allies and our adversaries -- know that Trump is often lying. The chaos that can -- and will -- create in the world is hard to wrap your head around. And terrifying.

1. "When his term is over, I think the debasing of our nation, the constant non-truth telling, and the -- just the name calling, the things that I think, the debasement of our nation is what we will be remembered most important, and that's regretful."

Trump has been president for nine-ish months. A prominent Republican senator is suggesting that not only is Trump's legacy already set but that it will be a legacy of "debasement of our nation." Sit with that for a minute. (Sidebar: More than four in 10 people in a recent Marist College poll said Trump would go down in history as one of our worst presidents.)