To quantify the impact from this morning’s negative real January personal spending figure from the perspective of one organization, the Atlanta Fed, they just cut their Q1 GDP forecast to 1.8% from 2.5% on Monday. Prior to today, the consensus for Q1 was around 2%. It is now vital for tax reform to get done quickly and not get bogged down so companies can make investment decisions now instead of waiting until 2018. If the Trump White House is going to be behind the Ryan tax plan, which it seems to be and which includes a border adjustment tax, the political fight may get ugly and drawn out.