Weekly Market Commentary 1/25/2019

President Trump’s endorsement on Friday of a truce that would reopen the government for three weeks temporarily ends an ugly chapter in American politics. The plight of the 800,000 government workers either furloughed or working without pay was exposed to the harsh glare of the media every day of the record 34-day shutdown. Not surprisingly, recriminations from both Democrats and Republicans competed for headline space, and the finger pointing will likely continue throughout the pending negotiations for a more permanent deal. The ongoing saga also brings to our attention some comments by government officials – one old and one new. The former dates back to the 1960s when Illinois Senator Everett Dirkson in response to growing Federal deficits allegedly opined ” a billion here, a billion there, and pretty soon you’re talking real money”. While on a smaller scale, we have no doubt that the families of government workers about to miss their second paycheck feel the same way.