Grand Rapids, Michigan billionaire Doug DeVos admits America hasn't made all that much progress since 1976

... On the eve of the 1976 election, President Gerald Ford wanted to hold a motorcade parade in Grand Rapids, where he grew up ... filled with boarded-up buildings ... a downtrodden place ...  

America on the eve of 2026 feels an awful lot like Grand Rapids in 1976. There’s a palpable sense that the country is struggling, if not starting to fail. It isn’t only the sorry state of big cities. It’s the state of the nation’s schools as kids fall behind in basic math and reading. It’s the state of the body politic as division and violence spread. It’s the sorry feeling that we’re a nation without a rudder, drifting toward inevitable decline. According to Pew Research, about half of Americans say the U.S. can’t solve many of its important problems. ...

More here. 

Even Larry Kudlow recognizes that GDP hasn't been good since 1984

... The last time real GDP hit 5 percent for the entire year was Ronald Reagan’s 1984, where the number was 5.6 percent for that whole year. ...

Here.

If Larry were completely honest he'd recognize that real GDP growth has been in steady decline in the entire post-war.

The percent change peaks are plain as day, unless you're an ideologue.

We've gone from 8.69% in 1950, to 7.23% in 1984, to 6.15 in 2021 (COVID panic spending), and the dozen or so routine percent change years above 5% between 1950 and 1984 when the economy was still holding its own have disappeared.

click to expand

 

The Reagan Revolution didn't do one thing to stem the decline, the Trump Gimmickry even less. In fact, the Reagan Revolution made it worse.

The answer why is paradoxical.

The debt-based economy of the United States ran out of gas under Reagan because he cut the taxes which paid for that debt, too much and on the wrong people. It's still a debt-based economy, but we don't want to pay for it anymore.

This is the infantile cry of libertarianism. 

We all think the growth of debt has been the problem when paying for that growth has been the problem. We threw a tantrum and decided to stop paying for it, and its growth naturally contracted, and along with it GDP, in self-defense so to speak.  

Growth of TCMDO, the total universe of debt, which steadily climbed the ladder in the post-war, plunged after 1985, from percent change 15.36% to 11.11% in 2004 to 9.51% in 2020 (COVID panic spending).

 

Debt draws future prosperity into the present, but what you get if you don't pay for it sufficiently is less prosperity when you reach the future from which you borrowed.

And as you pay less, you then borrow even more less so to speak, and get even more less. Rinse and repeat. 

Welcome to the future. 

It's really that simple.

Taxes have been much too low on the rich, and for a long time, and reversing that is the sober reflection of an age which realizes it made a mistake, starting long before Reagan with JFK, the libertarian cad who bedded more women in the White House than the rest of them combined. His Revenue Act of 1964 passed under LBJ cut the top income tax bracket from 91% to 70%.

The question we have to ask ourselves now is, are we ready to give our system another try and tax everyone, but progressively, and practice fiscal and moral restraint for a change . . .

or are we going to say yes to the billionaires who were made by all this obscene excess and who want to impose an un-American system of feudalism with themselves at the top and the rest of us their humble serfs?

George Washington wouldn't kneel even in church.

I'm with that guy. 

Palmer Luckey and all his fellow billionaires have to be taxed punitively on their foreign investments and their ordinary income in order to reindustrialize America

Make sure you tell him when he complains that he has to stop measuring such things in dollars.

 

Palmer Luckey: Reindustrializing The U.S. Is About Realizing Your Destiny Can't Be Measured In Dollars

It is obvious to everyone except Republicans that the Reagan Revolution of tax cuts for the rich has failed to produce the economic growth America was accustomed to before he became president

We had a few dozen billionaires in the Reagan era. Now we have hundreds.

Growth of GDP, percent change, annual, rolled over after 1984, inaugurating a new period of lower trendline growth in the economy.

You're not wrong to feel poorer. 

Just look at the trend lines for the data in this chart from before 1984 and after 1984. The change is glaring. The money which used to go into the economy to grow it has gone straight into the pockets of the rich.

Meanwhile Trump had one year in 2018 at 5.32% and he thinks he's God's gift to humanity, when Bush 43 did better in 2004-2006 at 6.64, 6.72, and 5.95.

Doddering old Joe Biden comes along and averages 8.22 for four years and what do Democrats do but throw him under the bus.

It's enough to make you scream. 

Trump is a con job of the billionaires, by the billionaires, and for the billionaires

 'Affordability is a con job by the Democrats,' Trump says

You need to earn $158,000/year [2.6x = 410,800] for the median home in the United States to be affordable.

93% don't.

 

 

We already accept that we can vote only where we are registered, so why do we allow campaign contributions from people and entities who can't vote where we are registered?

 The next thing you know the U.S. military won't be yours, either. It'll belong to Mellon heir billionaire Timothy Mellon.

 

... Here's a reform that would change everything: You can only donate to candidates and political organizations in the state where you are registered to vote.

Not where you own property. Not where you have business interests. Not where you "care deeply" about the issues. Where you are registered to vote – the place where you've committed to being a citizen and living with the consequences of governance.

This single rule would fundamentally reshape American politics.

 ... Change the incentives by changing where the money comes from, and you change what kind of people can succeed in politics – and what kind of Congress they create.

It's time to return politics to the people who actually have to live with the results.

 

Lindsay Mark Lewis, here. 

Giant prick sprouts in Texas

 

 It's Pritzker's party: Hell yes, he's messing with Texas...

 ... Newsom is offering voters a professor at the very moment they want to elevate a brawler. Pritzker’s primetime slugfest with Abbott and Paxton is designed to leave no doubt in voters’ minds that he’s a brawler.

There’s also the practical fact that the billionaire governor’s stacks of cash are a more immediate help to Texas Democrats than they are to Newsom’s longer-term play. State Democrats had ruled out a “quorum bust” due to cost and logistical challenges, until Pritzker offered to finance and organize the operation. Now they give official press conferences in front of Pritzker’s campaign logo. If Pritzker wants to be seen as the party’s “can-do” Democrat, this is a great way to start. ...

Billionaire becomes homeless

 Welcome to the club, bub.

OpenAI CEO Sam Altman says he’s ‘politically homeless’ in July 4 post bashing Democrats

 

The world's population of everyday normal millionaires heh since the year 2000 has more than quadrupled to 52 million

 ... There is not much data on individuals in the $50 million to $1 billion range, which distorts the picture, according to Mazeau. He also said the wealth growth among middle and lower wealth brackets is underappreciated. For instance, the number of individuals with $1 million to $5 million, whom UBS dubs “everyday millionaires,” has more than quadrupled since 2000 to about 52 million.

“They have more wealth collectively than all the billionaires in the world,” he said. “It is often overlooked how much wealth is rising and is going towards the middle of the pack.”

The middle of the pack. Yeah right.

It takes $33 million in 2025 to be a 1913 millionaire. 

More in "The U.S. added a thousand new millionaires a day in 2024: Report".

Meanwhile . . .

 

 

Federal employment is 1.1% of civilian population in April 2025: This is the swamp billionaires want to drain

 The worst it ever got was 2.4% in December 1952 while Truman was still president.

The leisure class of state capitalism has to have something to complain about. 

 

Real Clear Politics puts up a discussion between two billionaires 43% of whose business is government contracts demanding that government bureaucrats be prosecuted for fraud

The chutzpah of these parasites is really something, but Real Clear should be ashamed for promoting it.

The billionaires complain that expenditures far outpace revenues, but taxes must never be raised to pay for them:

"My answer on tax policy, what should tax rates be? Just always a little bit lower. I'm not going to tell you the number, they should always be a little bit lower."

Billionaires for tax cuts!

Meanwhile the $40 billion USAID budget was nothing but a virtue signaling food for the poor scam to these two:

"And so much of this left-wing philanthropy nonprofit world, I think it was just a cover for borderline criminal activity."

 

Prosecute Bureaucrats for Defrauding Government

Peter Thiel, American Optimist

 

 

This greaseball billionaire Commerce Secretary Howard Lutnick thinks missing a Social Security check, something that never happens, would be no big deal

Howard is otherwise busy firing people and disbanding volunteer industry groups who help the government create important statistics and guidance about things like gross domestic product, population, trade, etc. which people rely on every month to forecast the economy.

 

U.S. District Judge Theodore Chuang in Maryland rules Elon Musk violated the Constitution in dismantling USAID

 

 The ruling is significant because the dopes in the Republican Party just rammed through a continuing spending resolution which fully funds the now severely diminished USAID.

The money must be spent as allocated by Congress.

 

 Judge rules DOGE’s USAID dismantling likely violates the Constitution

WASHINGTON (AP) — The dismantling of the U.S. Agency for International Development by billionaire Elon Musk’s Department of Government Efficiency likely violated the Constitution, a federal judge ruled Tuesday as he indefinitely blocked DOGE from making further cuts to the agency. ...

In one of the first DOGE lawsuits against Musk himself, U.S. District Judge Theodore Chuang in Maryland rejected the Trump administration’s position that Musk is merely President Donald Trump’s adviser.

Musk’s public statements and social media posts demonstrate that he has “firm control over DOGE,” the judge found pointing to an online post where Musk said he had “fed USAID into the wood chipper.” ...

The judge said it’s likely that USAID is no longer capable of performing some of its statutorily required functions. ...

Chuang said DOGE’s and Musk’s fast-moving destruction of USAID likely harmed the public interest by depriving elected lawmakers of their “constitutional authority to decide whether, when and how to close down an agency created by Congress.” ...

 

Our servile GOP senators, who have been completely by-passed by DOGE, try to tell Elon Musk that he can't do that lol, now have to ask pretty please from White House chief of staff Susie Wiles

 

What an absolutely contemptible lot.

GOP senators tell Musk DOGE actions will require their votes 

Republican senators told tech billionaire Elon Musk at a closed-door meeting Wednesday that his aggressive moves to shrink the federal government will need a vote on Capitol Hill, sending a clear message that he needs to respect Congress’s power of the purse. ...

Paul and other Republican senators said Musk appeared open to the idea but didn’t seem to expect DOGE’s cuts and workforce reductions would need to come back to Congress for ultimate approval. ...

GOP lawmakers say Musk’s failure to brief them in advance about impending cuts and funding freezes — or to respond to their questions and concerns about actions taken by DOGE — reflected his belief that he thought the administration could largely bypass them by simply impounding funds lawfully appropriated by Congress. ...

Several GOP senators vented their frustrations over Musk’s operating style — especially his team’s failure to respond promptly to their concerns — at a meeting last week with White House chief of staff Susie Wiles.

Wiles told frustrated senators they should contact her directly with their concerns over funding freezes and reductions in force pushed by Musk and his team of young engineers.

Sources familiar with Wednesday’s meeting said the GOP senators who complained about Musk and his methods last week were much more cordial when they met with him face-to-face in the wood-empaneled Mansfield Room just off the Senate floor. ...

Trump's grifting, shape-shifting billionaire crypto czar David Sacks calls Zelenskyy a grifter lol

 

 David Sacks, a Jewish South-African, is another one of Trump's end-run-around-the-rules appointees like Elon Musk.

Like Musk he is one of Trump's "special government employees" who was not confirmed by the US Senate and who has not divested from all of his private business activities while he influences federal government policy. There is no government oversight of David Sacks.

Sacks licks his finger and checks the wind direction like the rest of his parasitical tech bro friends. He has made large political contributions in the past to the campaigns of both Mitt Romney and later to Hillary Clinton, as well as to RFK Jr., among others.

Like J. D. Vance, he believes in nothing very much except what's good for himself and his friends. "They are very rich people who want to buy political power", according to Edward Luce (below).

Sacks spews a litany of falsehoods about Zelenskyy and Russia's invasion of Ukraine here in an interview with the numbskull Jesse Watters. He has stated that Ukraine provoked the Russians to attack in 2022, a belief which Republicans booed last summer because it isn't true, according to Edward Luce of The Financial Times, who was there:

Sacks said on the opening night of the Milwaukee Republican convention, which I am also attending, that the US “provoked” Russia to invade Ukraine. As much as Sacks denies strenuously that he was booed by delegates. I beg to differ. The sceptical reception to Sacks’ Putin-friendly diatribe was the least unreassuring moment of what is the most dystopian political convention I have witnessed.

Democrat Rosa DeLauro (CT-3) is correct: Elon Musk is an unelected interloper, with no authority and no legitimacy who makes a mockery of the appropriations process

 

 Musk exercises nonexistent dictatorial line-item-veto powers over spending and personnel as a "super cabinet" official who was never confirmed by the US Senate like the other cabinet members he now tells what's what.

The whole scheme is illegal and unconstitutional, which is why Trump is now all of a sudden denying that Musk is head of the so-called DOGE, just like Trump hastily made Musk a special government employee after lawsuits were filed on February 3 questioning Musk's authority.

It's an end run around the constitution no less serious than the National Popular Vote Compact, which seeks to neuter the Electoral College.

Trump has been making this bullshit up as he goes and has been since Musk endorsed Trump after the July assassination attempt and then became part of Trump's circle of intimates in August.

The tech oligarchy got front row seats at the inauguration for a reason.

Congress closing in on shutdown deadline with no clear plan 

“We cannot come to a deal where you hammer out gains, losses, but you come to a conclusion and you come to a meeting of the minds,” Rep. Rosa DeLauro (Conn.), the top Democrat on the House Appropriations Committee, told reporters. “That should not be subject to some third party deciding that that’s not what they want.”

“We had a deal last year, all of us and so forth, and then there was an interloper with no authority, no legitimacy, nonelected, who said, ‘Don’t vote for it,’” DeLauro said, as Democrats have continued to zero in on tech billionaire Elon Musk, the head of Trump’s Department of Government Efficiency (DOGE).

The billionaires never say, Raise taxes now or face an economic heart attack

 

The word "tax" appears nowhere in this story.

Ray Dalio is worth $19 billion.

 

Ray Dalio to the Trump administration: Cut debt now or face an ‘economic heart attack’

 

“Make sure that you really know what you’re doing and you’re practical, and do it on … the conservative side, because you know, how much can the cutting actually be?”

 

PEW: 54% of Americans express unfavorable views of Elon Musk

Here:

Musk is viewed more negatively than positively overall. More than half of Americans (54%) express unfavorable views of the billionaire, while 42% view him favorably.

• 73% of Republicans view Musk favorably, while about a quarter (24%) view him unfavorably.
• Just 12% of Democrats rate Musk favorably, while 85% view him unfavorably.

 

Trump's new Treasury Secretary, Scott Bessent, has given Elon Musk control of the payment systems which control everyone's Social Security and Medicare benefits

 

 Billionaire Elon Musk’s deputies have gained access to a sensitive Treasury Department system responsible for trillions of dollars in U.S. government payments after the administration ousted a top career official at the department, according to three people who spoke on the condition of anonymity to describe government deliberations.  

On Friday, Treasury Secretary Scott Bessent approved access to the Treasury’s payments system for a team led by Tom Krause, a Silicon Valley executive working in concert with Musk’s “Department of Government Efficiency,” the people said. 

David A. Lebryk, who served in nonpolitical roles at Treasury for several decades and had been the acting secretary before Bessent’s confirmation, had refused to turn over access to Musk’s surrogates, people familiar with the situation told The Washington Post. Trump officials placed Lebryk on administrative leave, and then he announced his retirement Friday in an email to colleagues. 

Spokespeople for Treasury and DOGE declined to comment. 

The sensitive systems, run by the Bureau of the Fiscal Service, control the flow of more than $6 trillion annually. Tens of millions of people across the country rely on the systems. They are responsible for paying Social Security and Medicare benefits, salaries for federal personnel, payments to government contractors and grant recipients, and tax refunds, among tens of thousands of other functions.

More.

These guys are up against the debt ceiling and are obviously looking for other ways than the customary "extraordinary measures" to cut spending under the circumstances of a new administration trying to pass new tax and spending legislation. That's why Trump has offered buyouts to government workers so they quit, among other novel spending gambits like freezing program spending for 90-days.

The Treasury stopped paying into certain accounts from January 17th, before Trump and Musk took over, as part of the extraordinary measures undertaken by Treasury Secretary Janet Yellen to keep from hitting it.

She's been keeping the national debt at $36 trillion to $36.2 trillion ever since Thanksgiving.

It's all very troubling, as elected officials like to say.

Typically, only a small group of career employees control the payment systems, and former officials have said it is extremely unusual for anyone connected to political appointees to access them. 

Toddler billionaire throws tantrum, strips critics of paltry incomes earned on X in bid to shrink platform to his size

 

Elon Musk Defends Stripping Critics of Monetization Amid Free Speech U-Turn

Musk continued to receive even more backlash after he doubled down on his stance, endorsing a post which suggested Americans were too “retarded” to be hired for skilled positions and warning his critics in an expletive-laden rant.