The US debt downgrades of 2011 and 2023 have one thing in common: Nancy Pelosi's record of the four most fiscally irresponsible years in the post-war

Nancy Pelosi owns the record for the four most fiscally irresponsible years in the post-war, spending 316% of tax receipts in 2020, 276% in 2021, 310% in 2009, and 296% in 2010.

Her four years as Speaker 2007-2010 averaged current expenditures as a percent of current tax receipts of 251%, highest for any Speaker ever.

S&P downgraded the debt in August 2011.

The Boehner/Ryan interregnum averaged 219%.

Pelosi's next four years as Speaker 2019-2022 averaged 252% in overspending.

Fitch has now downgraded the debt in August 2023.

Taken all together, Pelosi's Speakership produced the worst overspending in the post-war at 251% of revenues. The excess has to be borrowed, ballooning the debt.

The ratings agencies sound the alarm bells no one else will ring, but they are mocked by all the experts, whose livelihoods depend on the scam continuing. 

 All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.     

-- US Constitution, Article One, Section Seven

 

Grand total foreign holdings of US Treasury securities in May, 2000-2019

Demand slowed from 2013 as stocks once again got a bid (permanent adoption of Bush tax cuts by Obama and Boehner removed uncertainty), but a flight to safety reappeared in 2019 and 2020. Total was still $6.8 trillion in Mar 2020 even after a big drop from Feb amid currency turmoil, the latest report.

The bid for bonds shows the global economy was already weak last year.

John DeStefano, in charge of Trump's 4,000 personnel appointments in 2017, was John Boehner aide

White House personnel official described Trump GOP nomination as 'end of the world':

Fear about a bias toward establishment picks emerged in 2017, when Trump selected DeStefano to lead the PPO. He had worked as an aide to former House Speaker John Boehner, R-Ohio, before leading Data Trust. Eyebrows raised with appointees with views at odds with some of Trump’s, such as former national security adviser H.R. McMaster, former foreign policy adviser Dina Powell, and Venezuela envoy Elliott Abrams. ...

A former White House official said DeStefano, 39, set the tone for the PPO with an “us versus them” mentality, often referring to Trump backers as “the MAGA people.” ...

Trump is said to have grown angry with DeStefano at times, including upon finding that a National Security Council official, Jordan Kelly, had not been dismissed from her role as a cyber expert more than a year after he requested it, according to a source.

Contra Dan Henninger of the WSJ, this is hardly the hottest job market in half a century when Obama's was actually better, which ain't sayin' much

Story of the Year:

This past weekend, The Wall Street Journal published a series of stories titled “Inside the Hottest Job Market in Half a Century.” As far as I’m concerned, this jobs record is the story of the year. The Journal’s articles transformed a year of economic data into the new daily reality of getting paid to work in America. ... It requires a remarkable degree of obtuseness to stare at the policy success of the past two years and pretend it hasn’t happened. Democrats are doing exactly that. Conservatives should pocket the Trump presidency’s Reaganesque policies for massively matching job producers with job seekers.

There's nothing obtuse about the facts, which show that the current job recovery is nothing out of the ordinary and simply continues the recovery which began despite Obama. The fact is that since the election of Trump in 2016 there's actually been a slow down in the rate of job growth compared with the immediately preceding, more robust period from 2013-2016.

Reaganesque policy under Trump hasn't produced a better outcome for job growth compared with that period, which was the immediate result of the John Boehner-Barack Obama deal to make the Bush tax cuts permanent starting in 2013.

For all the bluster by Trump-aligned organs in the media, especially at The Wall Street Journal, Fox and on talk radio, Trump's results so far also haven't come close to matching the pre-2000 era of job creation.

The economy shrank after the end of the 20th century, and we're still trying to recover to the former glory, nineteen years later.

So far, no one has a solution. Short of a giant spending cut and an actual structural commitment to onshoring instead of offshoring, there will not be one.

Matthew Continetti is delusional, imagines Republicans after 2010 "overreached", thinks Democrats might after 2018

Here, when in reality the so-called Tea Party Congress utterly capitulated.

It continued to ratify the new level of Obama's spending from fiscal 2009 onward, increased 25% overnight and kept there through the end of his presidency.

The Congress wasn't supine just in respect of the spending, either. John Boehner explicitly ceded the agenda to Obama after his reelection in 2012. Congress did nothing to hamstring an imperial president bent on ruling by decree. It was the Supreme Court which had to repeatedly rebuke the Obama administration, which simply ignored the court and kept on doing it.  

One can only wonder what Continetti would call it if Congress had actually exercised its constitutional power of the purse instead of lining up at the hog trough to lap it up with the rest of the pigs. Probably something about the tyranny of the legislative, or some such rot.

John Boehner joins board of marijuana company

These people don't care about anything except cashin' in.

Here.

Do nothing US House begins 5-week vacation after Senate Obamacare repeal failure

Republican Speaker of the House John Boehner once infamously said that Democrat President Obama had the right to set the agenda. But now that we have a Republican president, Republican Speaker Paul Ryan doesn't see it that way.

Slow-walking Trump's agenda isn't just a Democrat goal, it's an establishment goal. Republicans don't want to see it implemented anymore than the Democrats do, which is why Paul Ryan sabotaged Obamacare repeal in the Senate and promptly adjourned. His reassurances that the House wouldn't simply pass what the Senate passed supposedly were not good enough for John McCain.

But John McCain, who everyone knows is going to promptly die anyway, simply took one for the team. "Gee, what a guy. We get to run for reelection saying we voted for repeal and the dopes will believe us". 

Remember the agenda below from Trump? Seven months already have been blown on item 5, yet without success. Election 2018 is just 15 months away, and really 14 because August is a fait accompli. The prospects for getting nothing done by then of what Trump wants accomplished look better and better by the day, and that's just the way the establishment wants it.

   

Next, I will work with Congress to introduce the following broader legislative measures and fight for their passage within the first 100 days of my Administration:

1. Middle Class Tax Relief And Simplification Act.

An economic plan designed to grow the economy 4% per year and create at least 25 million new jobs through massive tax reduction and simplification, in combination with trade reform, regulatory relief, and lifting the restrictions on American energy. The largest tax reductions are for the middle class. A middle-class family with 2 children will get a 35% tax cut. The current number of brackets will be reduced from 7 to 3, and tax forms will likewise be greatly simplified. The business rate will be lowered from 35 to 15 percent, and the trillions of dollars of American corporate money overseas can now be brought back at a 10 percent rate.

2. End The Offshoring Act.

Establishes tariffs to discourage companies from laying off their workers in order to relocate in other countries and ship their products back to the U.S. tax-free.

3. American Energy & Infrastructure Act.

Leverages public-private partnerships, and private investments through tax incentives, to spur $1 trillion in infrastructure investment over 10 years. It is revenue neutral.

4. School Choice And Education Opportunity Act.

Redirects education dollars to give parents the right to send their kid to the public, private, charter, magnet, religious or home school of their choice. Ends common core, brings education supervision to local communities. It expands vocational and technical education, and make 2 and 4-year college more affordable.

5. Repeal and Replace Obamacare Act.

Fully repeals Obamacare and replaces it with Health Savings Accounts, the ability to purchase health insurance across state lines, and lets states manage Medicaid funds. Reforms will also include cutting the red tape at the FDA: there are over 4,000 drugs awaiting approval, and we especially want to speed the approval of life-saving medications.

6. Affordable Childcare and Eldercare Act.

Allows Americans to deduct childcare and elder care from their taxes, incentivizes employers to provide on-side childcare services, and creates tax-free Dependent Care Savings Accounts for both young and elderly dependents, with matching contributions for low-income families.

7. End Illegal Immigration Act.

Fully-funds the construction of a wall on our southern border with the full understanding that the country Mexico will be reimbursing the United States for the full cost of such wall; establishes a 2-year mandatory minimum federal prison sentence for illegally re-entering the U.S. after a previous deportation, and a 5-year mandatory minimum for illegally re-entering for those with felony convictions, multiple misdemeanor convictions or two or more prior deportations; also reforms visa rules to enhance penalties for overstaying and to ensure open jobs are offered to American workers first.

8. Restoring Community Safety Act.

Reduces surging crime, drugs and violence by creating a Task Force On Violent Crime and increasing funding for programs that train and assist local police; increases resources for federal law enforcement agencies and federal prosecutors to dismantle criminal gangs and put violent offenders behind bars.

9. Restoring National Security Act.

Rebuilds our military by eliminating the defense sequester and expanding military investment; provides Veterans with the ability to receive public VA treatment or attend the private doctor of their choice; protects our vital infrastructure from cyber-attack; establishes new screening procedures for immigration to ensure those who are admitted to our country support our people and our values.

10. Clean up Corruption in Washington Act.

Enacts new ethics reforms to Drain the Swamp and reduce the corrupting influence of special interests on our politics.

On November 8th, Americans will be voting for this 100-day plan to restore prosperity to our economy, security to our communities, and honesty to our government.



This is my pledge to you.

How to identify a member of the establishment

Anyone who complains about the existence of alternative sources of information like Twitter, blogs, conservative talk radio, etc.

In other words, anyone who has lost control of the messaging, like John McCain in the Senate today, and John Boehner in a leak to WaPo.

The Laugh of the Day comes from a John Boehner leak: Trump should never get into a pissing match with skunks

Mika Skunkski and Joe Skunkorough

A guy who recognizes that the media are skunks can't be all bad.

Here:

“You never get into a fight with people who buy ink by the barrel. He does it every day.” Boehner said, adding, “Never get into a p---ing match with a skunk. He does it every day.” “It may have worked during the campaign. But I think he would do himself well if he would just slow the tweeting down and just focus on what he’s doing and not being critical,” Boehner said.

Making Monday Night Football great again: Bocephus to return . . .

Obama and Boehner are gone.

Hank Williams Jr. is BACK!

Story here.

Kevin McCarthy is the poster boy for stupid Republicanism, but I repeat myself

No wonder Democrats run California.

From the story here:

“There’s two people I think Putin pays: Rohrabacher and Trump,” McCarthy (R-Calif.) said, according to a recording of the June 15, 2016, exchange, which was listened to and verified by The Washington Post. Rep. Dana Rohrabacher is a Californian Republican known in Congress as a fervent defender of Putin and Russia.

Previously while preparing to replace Speaker John Boehner McCarthy infamously said with a straight face that Republican success was evident from the House Benghazi investigation because it was proving to be politically detrimental to Hillary. The mug. He never knew what hit him.

Mark Meadows: Ousted Boehner, voted against the original HR 3762 in October 2015, leads House Freedom Caucus against Obamacare repeal in 2017

Clearly Mark Meadows is Trump's number one problem in the US House of Representatives.

In view of the fact that Meadows was in the extreme minority in October 2015 voting with only six other Republicans against Obamacare repeal in the form of HR 3762, it was hypocritical of him to accuse John Boehner of bypassing the majority in the House in the summer of 2015 and filing the motion for him to vacate the chair. Meadows bypassed the majority in October.

Meadows only flipped his position on HR 3762 when it was revamped and hardened by the Senate to make a political point to the voters back home.

In other words, Meadows only supported the bill when it allowed him to hide behind the skirts of the Senate version which both they and he knew was designed merely to be vetoed:

[T]he Senate's version would have implemented a two year phase-out of Medicaid expansion and exchange subsidies.

The House agreed to the Senate's changes, so the final version of the bill included the Senate's modifications.

There were concerns in Congress – particularly among lawmakers from states that have expanded Medicaid – that repealing the law would result in millions of people losing their health insurance coverage. But Politico reported that "senators were reminded that the president would veto the repeal bill anyway, meaning Republicans could vote on the measure without having to deal with the political risks of actually making major changes to existing law."

But there are still 206 Republican members in the US House in 2017 who voted for the original, honest HR 3762 in October 2015, and who should do so again in 2017, if only someone (not Mark Meadows, and not Paul Ryan) would lead them there:

The House version of H.R. 3762 included repealing the individual mandate, the employer mandate, the medical device excise tax, and the "Cadillac tax" on expensive employee health insurance premiums.

It also included a measure to eliminate federal Medicaid funding for Planned Parenthood for one year. But it called for increasing funding for community health centers by $235 million/year for two years (a 6.5 percent increase over the currently scheduled funding).

Republicans used the budget reconciliation process to ensure that their bill could advance through the senate as long as it received a simple majority of at least 51 votes, instead of needing 60 votes. By using reconciliation, the measure was filibuster-proof, and advanced to a vote in the Senate.

John Boehner must be laughing his ass off this morning

John Boehner got Obama to sign the Bush tax cuts, but Paul Ryan can't even get a bill on Trump's desk. 

Ross Douthat might as well write for The New Republic instead of The New York Times

Here, sounding just like Brian Beutler:

[R]ight now [Trump's] presidency is in danger of being very swiftly Carterized — ending up so unpopular, ineffectual and fractious that even with Congress controlled by its own party, it can’t get anything of substance done. ... [T]he more the Trump White House remains mired in its own melodramas, the more plausible it becomes that the Trump-era House and Senate set a record for risk avoidance and legislative inactivity.

Yeah, 23 days in and he's already a failure because there's no . . . wait for it . . . [infrastructure] spending bill and a tax cut bill, the two great incompatibles which Gallup says most people want.

Isn't The New York Times supposed to be wiser than that, admonishing that you can't have your cake and eat it too? Well, its so-called conservatives at least should be so wise.

The fact of the matter is the Gallup poll result, which is the same as the Douthat wish list, reveals the bipartisan nature of Trump's support. The people who support increased spending and the people who want tax cuts populate two different political parties. Perhaps Douthat has heard of them? Getting them to agree on this stuff is going to take a lot more time than 23 days. It took Barack Obama over four years to come up with his tax cut. Unfortunately for Obama it was Bush's tax cut, not delivered by Dingy Harry and San Fran Nan but by John Boehner at the dawn of 2013. What Harry and Nancy did immediately deliver was jacked up "infrastructure" spending within a month of 44's inauguration, adding a $700 billion increase to Bush 2009 fiscal year spending, making the one time stimulus a permanent part of the budget.

It is the biggest untold scandal since the Fed secretly lent trillions and trillions of dollars to the world at rock bottom prices on questionable collateral during the financial crisis from 2008-2010.

Because Republicans took the House in 2010, that additional $700 billion got no higher, but what do we have to show for it after increasing outlays $700 billion in 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016?

Where's the infrastructure after eight years and $5.6 trillion in increased spending?

Another trillion dollars will accomplish nothing.

Meanwhile Trump is delivering to his base, which is the first thing he must do, rescinding Obama executive orders, undercutting the ObamaCare mandate as Congress prepares its repeal, actually laying the groundwork to build The Wall (infrastructure!), rounding up criminal aliens (the horror) and trying to reduce terrorism threats which exist because of a chaotic immigration system, except the courts the enemy is trying to stop him.

He's also vilifying the media whom we also hate every chance he gets, and now the judiciary, the tag team which advances liberalism against the will of the people who overwhelmingly support Trump 2600 counties to 500 counties for the enemy.

And most of all, he's not being Hillary.

It's been a great 23 days. 

John Boehner at the Trump inaugural, tan as ever: Do you think he wishes he had remained and fought it out?

Obama didn't "decimate" the Democrat Party, Democrats did that all by themselves

David M. Drucker here wants to blame Obama for all the electoral losses experienced by Democrats since 2009. 

Good luck with that.

Like it or not, the Democrat Congress under Pelosi and Reid gets the blame. They have done nothing but lose, lose and lose while Obama has remained the winner, above the fray. He leaves office popular, successfully escaping responsibility for his own administration for eight straight years while Democrats all over the country have paid the price.  

Democrat leadership rammed the awful Obamacare down the nation's throat, making the health insurance industry even worse than it was before. Democrat leadership failed to prosecute anyone for the 2008 banking panic and raked in the campaign cash from its grateful elite instead. Democrat leadership jacked up the federal spending which simply wasted money and ballooned the debt to $20 trillion in the process. Democrat leadership passed the growth-robbing Dodd-Frank legislation which has stalled the growth of credit and slowed the economy to a crawl.

The only thing you can blame Obama for is a lack of vision and leadership in preventing these developments and for not offering better alternatives. He was inexperienced, out of his depth and clueless, contenting himself to lecture everybody day and night in regal fashion while Congress shot themselves and the country in the foot with their stupid ideas. Obama's idea of compromise turned out to be signing awful Democrat legislation.

Except in one instance.

Obama agreed one time to compromise with John Boehner and make the Bush tax cuts permanent and fix the Alternative Minimum Tax. The stock market and the economy began to recover from that moment on at the dawn of 2013.

It was the only smart thing he ever did.

And there he goes into the sunset.

Trump rewards Sen. Majority Leader Mitch McConnell for stonewalling Obama's Supreme Court appointment by picking his wife for Transportation

I don't view this as "nepotism" per se as others have who are much too quick to criticize Trump's centrism post-election.

Mitch McConnell withstood Obama's appointment power all through this period since the death of Scalia, enduring severe attacks for it from the left. People on the right who won't recognize what he accomplished are simply malign. They are like those who didn't recognize John Boehner's achievement getting the Bush tax cuts made permanent, and in many cases they are the same people, and unfortunately they are Legion.

McConnell's wife Elaine Chao had eight years' cabinet experience as head of Labor under Bush II and is competent to govern Transportation now under Trump. Not that we want her to have much to administer.

It is not a consequential appointment, except in the broad sense that Trump is not in the least setting about to take a machete to the federal Leviathan. Chao will maintain the status quo, more or less.

Booted from committee by Boehner, now voters boot anti-Trumper Rep. Tim Huelskamp entirely

Former House Speaker John Boehner famously booted Freedom Caucus members Tim Huelskamp, Justin Amash, Walter Jones and David Schweikert from House committees late in 2012 for not cooperating with leadership.

Now voters in Kansas have booted Huelskamp entirely by defeating him in his Republican primary. The three-term congressman lost to a challenger by 13 points and 13,500 votes.

Politico reports that the US Chamber of Commerce and the Ricketts family spent heavily to defeat Huelskamp, who had the temerity to vote against several versions of farming legislation which were more important to Kansas voters than the ideological reasons Huelskamp gave.

The same ideological reasons made Huelskamp anti-Trump, but that did him no good with the also anti-Trump Ricketts family.

John Boehner voted for Kasich yesterday, calls Cruz "lucifer" and wants Paul Ryan if no one wins the primaries

Here:

"If we don't have a nominee who can win on the first ballot, I'm for none of the above," Boehner said at the Futures Industry Association conference here. "They all had a chance to win. None of them won. So I'm for none of the above. I'm for Paul Ryan to be our nominee."

John Kasich isn't the only Ohio Republican who voted for NAFTA: So did John Boehner and Rob Portman

Here 17 November 1993.

House Roll Call here.