kevinmccarthy

Oh, Snap

Posted on by thependulumswings staff

Back in November 1980 Roberto Duran and Ray Leonard were in Round 8 of their rematch for the Welterweight Championship of the world.  Duran, known as Hands of Stone, stunned the boxing world by quitting in the middle of the round, uttering “no mas,” meaning no more.  Leonard’s flash, panache, and right hand beat Duran into submission.

Fast forward to today and many Americans feel like Roberto.  No more they say when it comes to expanding our bloated national debt.  Joe Biden and Kevin McCarthy went a few rounds themselves before pounding out a deal to extend the debt limit and spending more money but supposedly less than they would have otherwise.

It’s inaptly named the Fiscal Responsibility Act(FRA).  Remember the Inflation Reduction Act that didn’t have anything to do with reducing inflation?  New Bills coming out of the government are keeping pace with bills that are due from previous Bills that caused this circular reference.

The FRA, unlike the rematch of Hands of Stone v Sugar, allows both sides to claim victory.

But ringside, aka Capitol Hill, the judges are grumbling.  Will there be enough yes votes this week in the House to get this through?  Twenty Republican conservatives(about the same number as there are left in the House) are publicly hands down like Roberto’s were 43 years ago.  No mas spending irresponsibly they said.

This bill allows the debt to rise another 4 trillion from 32 by 2025.  Got that?  But that might not be enough to garner the far left.

“The Republicans did not win any major concessions on spending,” Rep. Pramila Jayapal, D-Wash., chair of the 100-member Congressional Progressive Caucus, said on a call with reporters Tuesday.  Could someone ask Rep Jayapal if that is a good thing or a bad thing for this country?

Cori Bush said she is undecided but is “leaning no” on the debt ceiling bill “As somebody who was a food stamp recipient, there is absolutely no way I can see myself green-lighting something that will take food from people’s mouths.”

Cori Bush Supporting Another Worthy Cause
The Congressional Budget Office said that the changes to work requirements for food stamps, officially known as Supplemental Nutrition Assistance Program (SNAP), actually increase the cost of the program by $2.1 billion over the coming decade. The net result is more individuals qualifying for SNAP benefits and a higher price tag, the CBO said.  Oh, snap, Cori.
Rep. Debbie Dingell (D-MI) stated that communities are worried about the clawback of COVID money in the debt ceiling bill because “they thought they had until 2024 to spend that money.” And that she has been telling communities, “If you need that money, you should be spending it now.”  BLM is more fiscally responsible than Dingbell Dingell.
Rep. Alexandria Ocasio-Cortez told reporters on Tuesday that she will vote against the bill to lift the debt ceiling as well.  She gave no reason, but she’s above it all really anyway.
And, low and behold there is Speaker McCarthy’s slippery hold on to the speakership position, the championship belt,  at stake here.  He sold his soul to get the spot and now he sold his party down the street to strike the deal some say.  The threshold for a “motion to vacate the chair” is just one member, down from a standard of five put in place under former Speaker Nancy Pelosi.
All the while, the stock market is watching this carefully.  A “no mas” vote would send the indices tumbling down like where Roberto was going in round eight if he didn’t quit.
The government needs a standing eight count and some smelling salts ASAP.

 

$31,802, 940,127,334

Posted on by thependulumswings staff

Rule # 1.  Follow the Money.

Rule # 2.  See rule number 1.

A week from today America either defaults on its debt obligations, or it doesn’t.   It won’t.  The worst case is that both parties will agree to kick the can down the road as it has many times before.

Whether the Republican-controlled House and the Democratic-occupied (when not in Delaware) White House come to an agreement or not boils down to who gets what, as in who gets how much funding for what in the coming budget year(s).

Then that team can declare victory.  Usually, both teams declare victory even in defeat.

It’s a modified version of a previously modified version of The Golden Rule.  This version is he who makes the rules hands out the gold.

And, for the last three decades, we’ve been handing out a lot more gold than we’ve taken in.  Thirty-two trillion ($31,802,899,784,128 to be exact when we began writing) more and counting.

America doesn’t have a revenue problem, it has a spending problem.

Who’s fault is it?  It’s everyone’s fault.  Too few folks from all walks of life and the government demand action.

Money buys votes.  Money buys more money to campaign with when you give it to industries.

The House has already passed a bill to fund the debt.  With it comes freezes on spending in the coming years at the level we spent in 2022.

Democrats run out to the always-available mainstream media hacks microphones and scream that the elephants are going to starve children, kill the homeless, and give tax breaks to the rich.

Elizabeth Warren has no reservations(except where she should qualify to live) about asking for a wealth tax.  We need more gold.  That boils down to taxing what has been taxed.  It’s Robin Hood all over again.

Democrats call freezes “cuts.”  They aren’t.  They just aren’t increases.  And, they will still add to the burgeoning debt as the budget has more spending than revenue (which should always be called tax money received, not revenue).

Republicans, predictably, have no orator, no marketer, and few vessels to explain what they’ve done is indeed pass a bill to extend debt payments.  They can’t sell.

Karine Jean Claude Pepe de la Pierre said just yesterday, “This is something that the president has been saying for five months now, how it is important for Congress to act…”  They have acted.  What percent of America knows that?  Cares?

We don’t even want to keep what we haven’t spent.  Covid ended 18 months ago, but the nation’s Covid emergency status and funding didn’t end until this just past April.  “So, if COVID is now a thing of the past, why is it controversial for us to reclaim the billions of unobligated COVID funds?” asks Rep. Lauren Brobert.

That’s an easy one.  The money can be turned into pet projects which garner election-day votes.

Want to “save” 10k on your next car, buy electric.  More electricity means less gas.  Less gas means fewer Texans with big cowboy hats full of money.  Fewer hats means less money funding the heathens.

Want 10k of your college loan debt reduced?  Raise your hand.

Want more votes?  Reduce border security spending.  Open the border like a sieve and hand the new illegals 300 bucks a week and a hotel room.  Give them paperwork that states that they have a court date in 2027.  No rush.

Let them vote meanwhile if you can.  Maybe Texas will turn blue sooner than later.

It’s all working well.  Ask Joe himself.  “My agenda is bringing back good-paying jobs to communities that’ve been hollowed out and left behind for decades. We’re building an America we can take pride in.”

Meanwhile, Biden walks around telling assembled groups that he’s cut the deficit by 1.7 trillion.  Sometimes he says 1.7 billion.  Sometimes he says 1.7 million.  Big numbers can be confusing.

A pathological liar tells lies and stories that fall somewhere between conscious lying and delusion. They sometimes believe their own lies.

Take a look at any chart over time and see if you can see any year that we haven’t had an increase in the national debt since Clinton.  But don’t take long. You’re wasting your time.

Speaking of time, the national debt clock increased by 41 million dollars since word one above was typed.

 

 

The Under Card

Posted on by thependulumswings staff
  1. What’s on everyone’s mind on the national scene these days?  It’s Kobe Bryant and his daughter’s unfortunate passing.  It’s the threat of the coronavirus spreading in the U.S.  It’s the Senate Impeachment Trial.  And, it’s the dwindling field and the jockeying for position in the Democratic race to gain the 2020 party’s nomination.

What’s the goal of the trial?  It’s two-fold.  It’s an attempt to deny Trump a chance to run for reelection.  And, it’s an incessant campaign to weaken his campaign.  And, the goal of the nomination process is to get to the candidate that most from the left feel has the best chance to take back the White House of course.  Opinions vary as to what the ultimate success of any of these plans might be.

But what gets little national play until way closer to the November election is the undercard.  The undercard is comprised of all of the state by state races for the House and the Senate.  The Democrats regained the House in 2018.  They have their eyes on the Senate as well.  Defeat Trump, and voila!  The keys to all three kingdoms are yours.

However, Lee Corso might say, “not so fast my friend!”  A great source tells BBR that they feel quite confident that the GOP has a finely tuned strategic plan of their own.  And, they think regaining the House majority is well within reach.  Wowza.  Round one.  Ding. Ding.

Thirty House Democrats are up for reelection in districts won by Trump in 2016.  Rep. Collin Peterson (D-MN), is one of the 30.   He voted against both articles of impeachment. Rep. Jared Golden (D-ME), who represents another such Trump-won district, voted for the first article, “Abuse of Power,” but against the second, “Obstruction of Congress.” Another now-former Democrat, Rep. Jeff Van Drew of New Jersey, actually quit the Democrat Party and joined the elephants over his opposition to the impeachment push against Trump.

All great plans just need oxygen and money.   The Democrats seem to be providing the oxygen with their nonstop assault of the President inside the halls of Congress.  What about the money?  It sounds like the elephants are charging.

Across his four fundraising entities, House Minority Leader Kevin McCarthy (R-CA) and his team raised $52.3 million in 2019. That is over $8 million more than the Republicans did during Paul Ryan’s previous record run up in the first year of President Donald Trump’s administration back in 2017.

Like him or not, Newt Gingrich is a wise political owl.  He likes what he sees.  “Kevin McCarthy’s tireless work ethic has produced a new dynamic, united, and aggressive House Republican Party,” Gingrich told Breitbart News. “Thanks to his efforts, Republicans enter 2020 from a position of strength—with the necessary resources, recruits, and message to win.”

Is it really possible that on their way to the Democrats’ House, Senate, and Presidential victory party a Republican sweep of the three got in the way?  Some folks sound pretty confident.

Where there is a will there is a way.  And, that way is being paved with lots of green cash.

If 2016 didn’t teach us that the impossible is possible, what will?

Ladies and Gentlemen, let’s get ready to rumble.