Earthquake

PROGRAMMING NOTE: Annual Thanksgiving break coming up. As always, the week of and the week after Thanksgiving. Next week is the last round for November, we meet again on December 10th.
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The polls, projections, surveys, pundits, etc. all had one thing in common; they were dead wrong.

With Clinton having conceded, Trump will be the next President of the United States. Already we’re starting to see hints about what the next 4 years could hold, as well as a bit of backtracking in some spots. This week, we break it all down. The fate of the Affordable Care Act, the aftermath of Trump’s election on stock market, and of course Trump’s agenda on firearms.

1.) Healthcare. A cornerstone of Trump’s platform was repealing and replacing the Affordable Care Act, also known as Obamacare. With the House, Senate, and White House in Republican control, Senate Majority Leader Mitch McConnell said that the chamber would move quickly to repeal the law.

But there are elements of the bill that Trump would like to have survive, namely the ban on pre-existing conditions leading to denial of coverage and allowing people to remain on their parents’ plans until 26. The BBC notes that

The challenge for the president-elect is that the Obamacare features he praises – such as its mandate that insurers cover pre-existing medical conditions – are made possible by portions of the law he has condemned, like requiring all Americans to obtain insurance.

Keeping the law’s carrots while abandoning its sticks could prove difficult.

2.) Markets. Initially, markets were extremely nervous about the election results. For a time, futures on the Dow dropped over 600 points Tuesday night. However, fears of a Brexit-style crash never materialized, and in fact just the opposite occurred. At the Closing Bell on Friday, the Dow staged its best week since 2011.

3.) Environment. Trump clearly is not happy with current EPA regulations, tapping a known “climate skeptic” to head his EPA transition team. Trump has long stated his aim to revitalize the coal, oil, and shale industries, and this appears to be part of that.

Additionally, TransCanada, the company behind the Keystone XL pipeline, says they are “fully committed” to the project and are “evaluating ways to engage the new administration on the benefits, the jobs and the tax revenues this project brings to the table.”

4.) Firearms. We discussed Trump’s Second Amendment coalition last week, now we have reaction to his victory from both pro- and anti-gun groups. NRA-ILA head Chris Cox said in a statement that “Trump’s victory repudiates the assertion by gun control advocates that the political calculus regarding the Second Amendment has changed.” The NSSF simply said “the American people have spoken. We have elected a president who has pledged to protect our Constitutional rights and a majority of both houses of Congress that will work to ensure that our individual right to keep and bear arms will be preserved,” and, in a remarkably low-key response, the Second Amendment Foundation merely posted a celebratory Facebook Picture.

On the other side, Everytown published a video calling Trump’s Second Amendment plans, specifically looking to take down Gun-Free Zones around schools and military bases, “ghastly.”

It is going to be a really interesting four years. With a Republican Congress and President, the Second Amendment looks to be fairly secure.

Stay informed. Stay alert. Stay free.

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