Warp Speed 2.0
Move fast and fix things.
Trump Puts His Presidency on Warp Speed
He doesn’t have to succeed. But Trump does have to try. That’s the mandate.
‘Trump, too, may benefit from voters’ understanding that he has been tasked with cleaning up an impossible mess. They may not blame him if the ideal immigration regime he envisions doesn’t materialize immediately or if prices and wages do not achieve some tolerable equilibrium in short order. They will, however, withdraw their enthusiasm if Trump loses sight of these goals and dwells instead on his personal grievances or makes a fetish of things he didn’t even run for office on, like a program of American territorial expansionism.’
Putting a halt to offshore wind development is good for whales.
Go figure.
‘There are also persistent concerns from environmentalists that the development of offshore wind projects off the coast of the New England states endangers the habitat of the North Atlantic right whale. According to NOAA, the right whale is one of the world’s most endangered large whale species, and, “There are approximately 370 individuals remaining, including about 70 reproductively active females. Human impacts continue to threaten the survival of this species. The number of new calves born in recent years has been below average.”’
The Ultimate Guide to Trump's Day 1 Executive Orders
Notwithstanding the partisan spiciness, it’s interesting to see the deregulatory impulse start on the political left.
Welcome to the party.
‘The most promising thing to happen on the American left over the last few years has been the emergence of the “abundance agenda,” which is going to be the subject of a book by Ezra Klein and Derek Thompson coming out in March. Bronx Congressman Ritchie Torres recently declared himself a convert to the cause in a podcast with Matt Yglesias.
‘The idea is basically that there are too many government regulations that make it too difficult to build things society needs, with a particular focus on energy and housing. Now, you might be saying to yourself, we already have a political faction that thinks there are too many government regulations that restrict supply, and they’re called Republicans. On the right, you don’t even need a movement to make this case, as it is already baked into conservatives’ underlying model of how the world works. That being said, I’m glad someone is pushing the same ideas on the left, and that’s fine if they promote desirable policies even while they can’t identify with the right due to it being full of morons, conspiracy theorists, and bigots.’
How Javier Milei’s Tough Remake of Argentina Made Him a MAGA Hero
Good general story about Argentina’s challenges.
‘“This is a fight against the status quo,” said Federico Sturzenegger, a 58-year-old former Harvard University economist Milei tapped as his deregulation czar.’
Trump revives executive order aiming to strip some federal employees of civil service protections
Schedule F, as promised, arrives on day one.
‘The executive order essentially reinstates the original 2020 executive order on Schedule F. It was one of more than two dozen directives Trump signed on his first day in office, many of which called for major restructuring of the federal workforce.
‘The new Schedule F order changes the name of the “F” classification to a “policy/career” classification of federal employees. Trump said his action will “restore accountability” to the federal workforce.
‘“A critical aspect of this executive function is the responsibility to maintain professionalism and accountability within the civil service. This accountability is sorely lacking today,” Trump wrote in the executive order. “Accountability is essential for all federal employees, but it is especially important for those who are in policy-influencing positions.”’
In addition to a summary of Trump’s first couple of days in office, there is an interesting note about norm-breaking. When you break a norm, what you’re really doing is resetting the norm.
‘Fresh off his own inaugural address promising “tolerance and humility,” Biden surprised Washington by firing Peter Robb, general counsel of the National Labor Relations Board. The general-counsel position is a Senate-confirmed four-year appointment at an independent agency; Robb had 10 months left in his term. No NLRB general counsel had ever been fired. While a court later ruled Biden had the authority to remove Robb, his action took another wrecking ball to Washington norms.
‘Trump is following this lead. In his first days in office, the new president fired the heads of the Coast Guard and the Transportation Security Administration, as well as Biden appointees to advisory council positions, including retired Gen. Mark Milley from the National Infrastructure Advisory Council and former Atlanta Mayor Keisha Lance Bottoms from the President’s Export Council (some said they had resigned before Trump’s inauguration). The Associated Press reported that numerous State Department employees “are leaving their jobs at the demand of the incoming Trump administration”—a demand that is allowed, but “unusual.” Trump wrote on Truth Social that his team overall “is actively in the process of identifying and removing over a thousand Presidential Appointees from the previous Administration, who are not aligned with our vision to Make America Great Again.”’
How Trump’s Department of Government Efficiency Will Work
It may be harder to sue to block or investigate DOGE.
‘That, too, is unclear. The unit previously known as the U.S. Digital Service existed within the Office of Management and Budget, which is subject to the federal Freedom of Information Act, which provides for the release of information upon request that has not been made public, unless it falls under an exemption. But if the unit gets moved elsewhere within the executive office of the president, it could be exempt from the act.
‘The work of the “DOGE teams” could be subject to the act, though, because they would be embedded within federal agencies.’
Keep an Eye on Crypto Regulation
Regulatory clarity will beget activity.
‘Crypto regulation is likely to change very rapidly. I expect that SAB 121 will be overturned, perhaps even today. Overturning SAB 121 wouldn’t even be controversial because, as I wrote earlier, Democrats and Republicans in the House and Senate both voted to overturn SAB 121 which was saved only by Biden’s veto.
‘Essentially, SAB 121 made it prohibitive for banks to offer custody services for crypto because that service would then impact all kinds of risk and asset regulations on the bank. Aside from singling out crypto, the SEC is not a regulator of banks so this seemed like a regulatory overreach.
‘I also hope that the tax rules on staking are simplified. Staking rewards paid in tokens should not be taxed until sold. Just as apples aren’t taxed when they grow on the tree but only when sold.’
The Internet Should Be ‘Neutral,’ but Congress Should Not
Congress cannot move as fast as the technology, but regulators don’t seem diffident at all.
‘The failure of Congress to act as technology grows ever more powerful can be seen as an invitation for the executive and judicial branches of government in the U.S., as well as regulators in Europe and elsewhere, to fill the void. That leaves the tech industry, its business customers and consumers to navigate unresolved policy questions, a patchwork of state regulations and international rules, and federal agency policies vulnerable to court decisions.’
Trump Fires All Government DEI Staffers, Ends Affirmative Action for Contractors
Organizations, including corporations, follow the federal government’s lead, the more so if they have business with the government. Make no mistake. This is a significant move.
‘Trump’s executive actions have the potential to significantly reshape federal civil rights law and could spell the end of DEI across American institutions. Large corporations, elite universities, news organizations, and many other powerful facets of American business and culture adopted DEI during the summer 2020 Black Lives Matter riots and racial reckoning.’