Conference Presentation, Panel, Fireside Chat, Roundtable
The First 100 Days—and the Next 1,000
Milken InstituteCarol Lee, Paul Atkins, William Bennett, Richard Haass, Chris Liddell, Andrew Liveris, Bill Bennett
- The administration plans to use the first 100 days to establish a foundation for 1,000 days, potentially extending to 2,500 days in a second term.
- Deregulation is identified as a primary focus for individual regulations to promote job creation, particularly in the manufacturing sector where reduced costs are expected to yield automatic job growth.
- Financial regulators are expected to adhere to core principles, with actions over the next 1,000 days maintaining the momentum established in the first 100 days.
- Workforce development strategies include integrating vocational training, implementing STEM education, and creating a national skill certification program to address a gap between 50,000 annual STEM graduates and 500,000 open jobs.
- Resource constraints within the White House team will necessitate a specific pace of actions over the next 1,000 days.
- Government programs are expected to be integrated with private sector funding, utilizing convening power to advance workforce development ideas.
- The administration is anticipated to persist with its legislative agenda despite potential resistance from a Democratic Congress, the press, and the courts, with a pivot to Democratic collaboration possible if Republican efforts stall.
- Substantial tax reform, including corporate tax cuts and repatriation, is predicted to be implemented, though it may not be self-financing if growth rates remain below 3%.
- If tax reform slows or fails by 2018, the economic trajectory is expected to differ significantly.
- A difference between 2% and 3% growth over the next decade is projected to generate approximately two trillion dollars in additional government revenue.
- Concerns regarding the national debt include a dramatic increase driven by tax cuts, higher interest rates on debt financing, and increased defense spending, causing the deficit to rise rapidly over the next couple of years.
- Entitlements including Social Security, Medicare, and Medicaid are expected to be addressed within the next 100 days, involving actuarial changes, means testing, and serious reforms to reduce spending.
- The disability administration is expected to become more rigorous in qualification standards.
- Trade initiatives include reopening NAFTA to update it for the modern era, engaging with China, Japan, and others on fair trade, and addressing subsidies and currency issues through new mechanisms.
- Negotiators may incorporate selected aspects of the TPP agreement into NAFTA updates.
- Future diplomatic efforts may see increased pressure on North Korea from China, though the success of such initiatives is uncertain.
- Millions of jobs are predicted to disappear over the next eight years due to robotics, artificial intelligence, and autonomous vehicles, necessitating serious policy conversations to compensate for technological job destruction.
- The U.S. is expected to be well-positioned compared to other nations to succeed in an environment of technological job destruction over the next 10 to 20 years.
- Federal responsibility for education is expected to devolve to states and localities.
- An American Technology Council is planned to modernize government services, addressing pain points such as outdated veteran cemetery systems, with potential bipartisan support for related funding bills.