Why didn't Nancy hold hearings on this instead of the fake insurrection?
#23 | POSTED BY VISITOR_

What about the insurrection was fake?

That must be established before solidifying the point that governmental transition, per the constitution, is more important than money that can be printed out of thin air.

#25 | POSTED BY VISITOR_

Yes, I absolutely do. Pull your head out of your partisan sandbox and get a clue.

What about the insurrection was real? How about you ask that question to the numerous folks sitting in prison that were convicted of seditious conspiracy, eh?

JFC You're willfully ignorant and proud of it, VISITOR_.

Swallow it.

Sen. Ted Cruz (R-Texas) told "Axios on HBO" on Monday that he wishes reining in the national debt was a higher priority for President Trump.

Why it matters: Trump pledged during the 2016 campaign to reduce the national debt and eliminate it entirely within eight years, though he also deemed himself "the king of debt" and said there were some priorities that required spending. In the fiscal year that ended in September, the deficit reached a record $3.1 trillion.

This means that a growing portion of everyone else's taxes are going to wealthy Americans in the form of interest payments, rather than paying for government services that everyone needs.

In the first full year of the Trump tax cut, the federal budget deficit increased by $113bn while corporate tax receipts fell by about $90bn, which would account for nearly 80% of the deficit increase.

By 2018, the 400 wealthiest American households paid a lower total tax rate " including federal, state, and local taxes " than any other income group. Their overall tax rate was only 23%. It had been 70% in 1950.

From September of 2021:

"Treasury Secretary Janet Yellen last week warned us that the GOP is about to use Jude Wanniski's "Two Santa Clauses" fraud again to damage Biden's economy and our standing in the world. And, sure enough, Mitch McConnell verified it when he said last week there would be "zero" Republican votes to raise the debt ceiling.

Yellen responded yesterday by telling The Wall Street Journal that if the Republicans force a shutdown of the U.S. government like they did to Obama in 2011, "We would emerge from this crisis a permanently weaker nation." But the GOP is adamant: they have their strategy and they're sticking to it.

Here's how it works, laid it out in simple summary:

First, the Two Santas strategy dictates, when Republicans control the White House they must spend money like a drunken Santa and cut taxes to run up the U.S. debt as far and as fast as possible.

This produces three results: it stimulates the economy thus making people think that the GOP can produce a good economy; it raises the debt dramatically; and it makes people think that Republicans are the "tax-cut Santa Clauses."

Second, when a Democrat is in the White House, Republicans must scream about the national debt as loudly and frantically as possible, freaking out about how "our children will have to pay for it!" and "we have to cut spending to solve the crisis!" Shut down the government, crash the stock market, and damage US credibility around the world if necessary to stop Democrats from spending money.

This will force the Democrats in power to cut their own social safety net programs and even Social Security, thus shooting their welfare-of-the-American-people Santa Claus right in the face.

And, sure enough, here we are now with a Democrat in the White House. Following their Two Santas strategy, Republicans are again squealing about the national debt and refusing to raise the debt ceiling, imperiling Biden's economic recovery as well as his Build Back Better plans.