Trump Declares National Emergency, Will Shift Funds to Build an $8 Billion Wall

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Published : February 16th, 2019
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Category : Opinions and Analysis

Trump declared a national emergency. Playing down past emergencies, Trump stated “They sign it. Nobody cares".

President Trump on Friday declared a national emergency over border security, bypassing Congress in an effort to divert money from elsewhere in the government to pay for the construction of additional barriers along the southern U.S. border.

In remarks at the White House, Mr. Trump defended the actions as critical to national security. “We’re talking about an invasion of our country,” he said. At another point, however, he suggested an emergency declaration wasn’t necessary. “I didn’t need to do this, but I’d rather do it much faster,” he said.

Mr. Trump said he was satisfied with the non-barrier funding, even suggesting it might be too much. “I don’t know what to do with all the money they are giving us. It’s crazy.”

White House acting chief of staff Mick Mulvaney said Friday that the president would seek to divert about $6.7 billion from elsewhere in the government to build 234 miles of steel bollard wall.

Included in that will be $2.5 billion that Mr. Trump will divert from the Department of Defense’s counterdrug efforts, $600 million from the Treasury Forfeiture Fund and $3.6 billion from military-construction efforts, Mr. Mulvaney said. The military-construction bucket can only be accessed through an emergency declaration.

In the 1970s, Congress passed the National Emergencies Act, a measure that placed limits on presidential discretion. Among other provisions, it allows Congress to terminate an emergency declaration.

Dissent From Both Sides

“The Congress will defend our constitutional authorities in the Congress, in the Courts, and in the public, using every remedy available,” House Speaker Nancy Pelosi (D., Calif.) and Senate Minority Leader Chuck Schumer (D., N.Y.) said in a joint statement. “The Congress cannot let the President shred the Constitution.”

“I don’t think that this is a matter that should be declared a national emergency,” Sen. Lisa Murkowski (R., Alaska) said.

Question of the Day

If you didn't need to do this, is it an emergency?

Trump seriously needs to watch what he is saying. The courts might very well rule on that self-admission.

Trump said he anticipated that he would be sued. “We will possibly get a bad ruling. And then we’ll get another bad ruling. And then we’ll end up in the Supreme Court and hopefully we’ll get a fair shake,” he said.

What if you declare upfront that it wasn't really an emergency? This will be interesting.

Meanwhile, As Expected ...

That Tweet is growing by hundreds of likes every minute.

Source : moneymaven.io
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IMG Auteur
Mish 13 abonnés
Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. He writes a global economics blog which has commentary 5-7 times a week. He also writes for the Daily Reckoning, Whiskey & Gunpowder, and has over 80 magazine and book cover credits. Visit http://www.sitkapacific.com
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