Here are the biggest issues for the US in the new year:
1. War or peace? This is the issue that dwarfs all others. Trump will go to war with North Korea, regardless of the costs, if he considers it necessary to maintain his credibility. He wants a war with Iran. The war itself would be bad enough, but the legal and political implications at home could be even worse.
2. Trade war with the world? All indications suggest that protectionist measures against China are imminent. NAFTA and the WTO are in danger. No big, beautiful, bilateral agreements are remotely on the horizon.
3. A war on the poor? Paul Ryan’s Social Security and Medicare cuts are probably off the table, but cuts to “welfare” make the base happy. They’ll probably happen in some fashion.
4. Who wins the 2018 elections? A Democratic victory will put an end to the Ryan dream and result in endless investigations of Trump. Which leads us to. . .
5. What happens to the Russia investigation? My prediction: the indictments will stop just short of Trump, and he won’t be impeached. Our best hope is that he quits in exchange for immunity for himself and his family and a parade with fighter jets.