John Kasich’s Latest Endorsement Could Be a Game-Changer
Ohio’s Republican Gov. John Kasich on Monday sought to enshrine his status as a top-tier presidential candidate when he rolled out the endorsement of Alabama Gov. Robert Bentley.
“John Kasich is a leader whose readiness to lead our nation on his first day in the Oval Office is unmatched,” Bentley said during a joint appearance at the Alabama Sports Hall of Fame. “America needs John Kasich, and I am going to do everything I can to help make sure he is our next president.”
Related: 10 Things You Need to Know About John Kasich
On paper, the Republican governor of a deep-red Southern state endorsing a GOP presidential candidate months before the first primary votes are cast may not come as much of a surprise, but it could ultimately mean a great deal for Kasich’s White House bid.
The Ohio Republican, with his compassionate conservative message, has touted himself as a moderate in the crowded GOP field; winning the support of the executive of one of the most conservative states in the nation could help him broaden his appeal in the party.
Alabama is set to play a major role in the GOP’s 2016 nomination process. The state is one of eight in the South that will hold a vote on March 1 in the so-called “SEC primary.”
Sen. Ted Cruz (R-TX), another White House hopeful, has called the cluster of states the “firewall” for his candidacy and wrapped up a southern bus tour last week, drawing large crowds in Tennessee, Mississippi and Arkansas.
Related: Did Kasich Just Do an About-Face on Climate Change?
By making hay of Bentley’s endorsement, Kasich also aims to stay in the spotlight and secure his place on the main stage when Republicans meet again next month for their second debate.
Kasich announced his candidacy just a few weeks before the first debate in Cleveland earlier this month in the hope that his initial splash in the polls would be enough for him to make the cut-off for the prime time event. The strategy paid off; Kasich received standing ovations and thunderous applause whenever he answered a question before the home state crowd.
But surveys taken since the debate show former Hewlett-Packard CEO Carly Fiorina surging in the polls, meaning another contender is likely to get bumped off stage.
After Bentley’s announcement, Kasich, who has bet his candidacy on winning the New Hampshire primary and watched his numbers steadily rise there, will make a campaign swing through the Granite State, Iowa and South Carolina.
Top Reads from The Fiscal Times
- Mark Cuban: Here’s Why Republicans Will Lose the Election
- Here Are 5 Democrats Who Could Scuttle the Iran Deal
- 9 Trump Positions that Make Liberals Want to Move to Canada
Why Craft Brewers Are Crying in Their Beer
It may be small beer compared to the problems faced by unemployed federal workers and the growing cost for the overall economy, but the ongoing government shutdown is putting a serious crimp in the craft brewing industry. Small-batch brewers tend to produce new products on a regular basis, The Wall Street Journal’s Ruth Simon says, but each new formulation and product label needs to be approved by the Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau, which is currently closed. So it looks like you’ll have to wait a while to try the new version of Hemperor HPA from Colorado’s New Belgium Brewing, a hoppy brew that will include hemp seeds once the shutdown is over.
Number of the Day: $30 Billion
The amount spent on medical marketing reached $30 billion in 2016, up from $18 billion in 1997, according to a new analysis published in the Journal of the American Medical Association and highlighted by the Associated Press. The number of advertisements for prescription drugs appearing on television, newspapers, websites and elsewhere totaled 5 million in one year, accounting for $6 billion in marketing spending. Direct-to-consumer marketing grew the fastest, rising from $2 billion, or 12 percent of total marketing, to nearly $10 billion, or a third of spending. “Marketing drives more treatments, more testing” that patients don’t always need, Dr. Steven Woloshin, a Dartmouth College health policy expert and co-author of the study, told the AP.
70% of Registered Voters Want a Compromise to End the Shutdown
An overwhelming majority of registered voters say they want the president and Congress to “compromise to avoid prolonging the government shutdown” in a new The Hill-HarrisX poll. Seven in ten respondents said they preferred the parties reach some sort of deal to end the standoff, while 30 percent said it was more important to stick to principles, even if it means keeping parts of the government shutdown. Voters who “strongly approve” of Trump (a slim 21 percent of respondents) favored him sticking to his principles over the wall by a narrow 54 percent-46 percent margin. Voters who “somewhat approve” of the president favored a compromise solution by a 70-30 margin. Among Republicans overall, 61 percent said they wanted a compromise.
The survey of 1,000 registered voters was conducted January 5 and 6 and has a margin of error of 3.1 percentage points.
Share Buybacks Soar to Record $1 Trillion
Although there may be plenty of things in the GOP tax bill to complain about, critics can’t say it didn’t work – at least as far as stock buybacks go. TrimTabs Investment Research said Monday that U.S. companies have now announced $1 trillion in share buybacks in 2018, surpassing the record of $781 billion set in 2015. "It's no coincidence," said TrimTabs' David Santschi. "A lot of the buybacks are because of the tax law. Companies have more cash to pump up the stock price."
Chart of the Day: Deficits Rising
Budget deficits normally rise during recessions and fall when the economy is growing, but that’s not the case today. Deficits are rising sharply despite robust economic growth, increasing from $666 billion in 2017 to an estimated $970 billion in 2019, with $1 trillion annual deficits expected for years after that.
As the deficit hawks at the Committee for a Responsible Federal Budget point out in a blog post Thursday, “the deficit has never been this high when the economy was this strong … And never in modern U.S. history have deficits been so high outside of a war or recession (or their aftermath).” The chart above shows just how unusual the current deficit path is when measured as a percentage of GDP.