It’s a Big Week for the Economy & Florida DOGEing – Top 3 Takeaways July 28th, 2025
Takeaway #1: Buckle Up
In hindsight it was clear that there would be no slow summer days in President Trump’s second administration. I’ve enjoyed sharing with you the knowledge that President Trump was the second most productive president in American history at achieving his agenda through the first six months of his presidency. I’ve enjoyed the results of many or the wins. My three favorites, in terms of outcomes – record low recorded border crossings, the double digit decline in crime (directly attributable to the border crackdown and targeting of criminal illegal aliens by ICE) and the dismantling of Iran’s nuclear program. But of course, there’s been so much more. This weekend I went back through President Trump’s accomplishments but also what I had to say coming into this year. In my Top 3 Takeaways on January 2nd – I had this to say... as my top takeaway to kick off this year: This is our year. If you’ve waited much of your life hoping for fundamental changes within the way our federal government operates...this is your year. I then went through President Trump’s 20-point plan for Making America Great Again saying that I believed he’s dead set on making it a reality... while also adding this...I’ve never seen a president-elect work harder than Donald Trump has since winning the election. The man has literally worked every single day – including working on Christmas Day. That’s because he realizes just how important every day is if he’s going to be successful in carrying out his ambitious agenda. And... that takes us to what is set to be...
Takeaway #2: Another pivotal week for his presidency
After dropping in on Jerome Powell and the Fed last Thursday – the Fed will make an interest rate policy decision on Wednesday. The financial markets have priced in a 96% chance of no change. What will Trump’s reaction be then? That’s not the only major financial news development we’ll get on Wednesday. That’s also the day we’ll get the first read on the second quarter’s GDP. It’s always important but takes on added significance given the first quarter’s negative GDP. Economists currently estimate growth to check in at 2.4%. How healthy is our economy? How did we do in the quarter that began with Liberation Day? We’ll soon see. Speaking of which...August 1st, which you might call Liberation Day 2.0, hits on Friday. In advance of the president’s deadline, Trump has worked out trade deals with: China, Indonesia, Japan, Philippians, United Kingdom, Vietnam and now the EU. The impact from those seven trading partners are likely more significant than it may seem. They represent approximately what percent of U.S. trade? The answer is 43%. Trade and interest rates will be in focus all throughout this week. It might prove to be the most important weeks of the second six months of Trump’s second presidency.
Takeaway #3: Audit Us
I’m pretty sure no one has ever raised their hand and said – that what they really want is an audit. I’m certain that Broward County didn’t. But that’s exactly what they’re getting. One of the late additions to the last-minute budget process in June was a provision that put enforcement measures behind Florida’s DOGE law. Florida has actually had a DOGE law on the books for 19 years – so we were on board with DOGEing before it was cool, however little ever came of it because of a lack of teeth and enforcement. But the new law not only sharpened the ability for the state of Florida to DOGE itself and its local governments – it put teeth behind it with fines of $1,000 per day, per request (which as DeSantis mentioned could total over 100), for noncompliance with state requests – and the ability for the governor to remove noncompliant officials (which we’ve known Governor DeSantis isn’t shy to do). This week the new era of DOGEing will get underway in our state and first up...Broward County, Manatee County and the city of Gainesville. Speaking of Broward, Governor DeSantis had this to say: Their county government has increased property tax burdens by the tune of $450 million, in addition to ad valorem collections, that's an increase of close to 50% just since 2020, but yet the population of Broward has barely grown at all, less than 5%. It’s a good point, and a solid illustration of the use and abuse of taxpayers by Broward – but of course they’re far from alone. Consider this...in Palm Beach County taxable property values aren’t up 50% since 2020 – they're up 62% according to the Palm Beach County Property appraiser’s preliminary reporting this year. And, Palm Beach County’s population has risen only 4.8% over that time! So, if Broward deserves DOGEing PBC certainly does too. So yeah, audit us too and our municipalities while you’re at it. Btw, aside from the potential finding of local government waste and abuse (or perhaps worse), what’s learned could also be key in educating the public about the abuse of property tax revenues in advance of DeSantis’s push to put an end to homesteaded property taxes next year. So yeah – come audit us!