Here are the top stories making headlines in politics today: Trump calls for fed to lower interest rate to zero; court rules VA must pay veterans’ ER care; Trump asks Bolton to resign; Trump support helps GOP sweep North Carolina elections.
Trump calls for zero, negative interest rates for US debts
President Donald Trump is calling on the Federal Reserve to reduce interest rates to zero or even the negative to combat week economic growth.
In a pair of tweets, Trump wrote, “The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet….The USA should always be paying the the lowest rate. No Inflation! It is only the naïveté of Jay Powell and the Federal Reserve that doesn’t allow us to do what other countries are already doing. A once in a lifetime opportunity that we are missing because of ‘Boneheads.'”
In July, the Federal Reserve cut interest rates for the first time in over a decade. When the Fed meets next week, financial markets expect rates to be lowered again. Rates are currently at 2.00-2.25%.
US appeal court rules VA must pay for veterans’ ER care
The U.S. Court of Appeals for Veterans Claims said the Department of Veterans Affairs must reimburse veterans for emergency medical care at non-VA facilities. The ruling could amount to billions of dollars to veterans. “All of this is unacceptable,” the appeals court said. The plaintiffs’ attorneys say the decision may yield up to $6.5 billion for veterans.
Trump asks Bolton to resign as national security advisor
National Security Advisor John Bolton tendered his resignation yesterday. President Trump asked Bolton to resign. In a pair of tweets, Trump laid out his reasons for asking the national security advisor to step down.
“I informed John Bolton last night that his services are no longer needed at the White House. I disagreed strongly with many of his suggestions, as did others in the Administration, and therefore….I asked John for his resignation, which was given to me this morning. I thank John very much for his service. I will be naming a new National Security Advisor next week.”
With Trump’s support, GOP sweeps special elections in North Carolina
In a special election in North Carolina, Republican Dan Bishop won the 9th district of the U.S. House. In a separate special election, Republican Craig Murphy won the 3rd district of the U.S. House. A last-minute rally by President Trump in North Carolina is being credited with helping Republicans win in the state. President Trump tweeted: “BIG NIGHT FOR THE REPUBLICAN PARTY. CONGRATULATIONS TO ALL!”