The reconciliation bill and infrastructure bill are in trouble…Thank God.

Joe Biden continues to show, through his picks, how moderate he is.

Kamala Harris is terrible.

And Greta is back!

 

Opening Monologue: The Halloween Costume

 

The Economic Debate

The Debt Ceiling

The debt ceiling has been temporarily suspended. This will allow the government to continue running until December 3rd.

• The House approved the bill, 254-175.
• The Senate approved the measure 65-35.
• President Biden signed the bill on Thursday night.

The thought that this may show that Republicans are as nervous of meeting the debt ceiling as the Democrats and they might negotiate a reconciliation bill. Remember, that same bill they were suppose to vote on tonight?

Yeah, well, no.

The Democrats do have some ideas, though, on getting around the debt ceiling. Yeah, yeah, eliminate the filibuster but that was so three months ago and it’s not going to happen:

The first idea is to create a trillion dollar coin. Newsweek explains:

The idea of minting a trillion-dollar commemorative coin to shore up the nation’s finances comes from an obscure law that gives the U.S. Treasury Secretary the authority to “mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.”

Proponents have picked up on the “denominations” note there, arguing that any amount could be minted at a normal coin size and deposited into the Federal Reserve to prevent a national debt crisis.

The idea is we could pay off our debt with this coin. This is not a new idea. Barrack Obama, during the debt ceiling crisis on his term, thought about it. He said in 2017:

“There was this theory that I had the authority to issue through the mint this massive $1 trillion coin and on that basis we could try to pay off US Treasurys. It was a very realistic possibility that we couldn’t get the votes for that and we couldn’t get those debts rolled over and we would be in a situation where we were technically in default. At that point, you were in uncharted territory.”

There are some problems with this that Barrack Obama knew about:

• This is not different than just printing money.
• It also seems to be going back to the gold standard.
• It is a fake solution. It doesn’t actually address the problem which is over spending.
• And where are they going to get the money to pay for this coin? Taxes.
• Finally, this is not who we are. We need to deal with the spending and the debt. Not create an artificial solution.

The other way to deal with this is far more realistic but more devastating. Janet Yellen, the horrible Secretary of the Treasury, has told us she’s in favor of ending the debt ceiling altogether. Now understand, the reason there is a debt ceiling is to control spending. What she is saying is that we should not have a limit on spending and we she just pay debt by adding to the debt.

That’s like having a credit card with a limit of $500 and, when the limit was reached, the limit could be raised so that you could pay off your credit card with the same credit card you’re trying to pay off. Do you see a problem with that?

This will cause:

• Inflation.
• High taxes.
• Austerity.
• Job loss.
• Innovation loss.

This has been tried before. Look at Japan. Guess what happened to them. They have been economically stagnant since the 90s.

 

Reconciliation Bill

The reconciliation bill is in huge trouble. The Democrats, per Bernie Sanders and the Squad, wanted the $3.5 trillion reconciliation bill, or budget bill, voted on before the “bipartisan” infrastructure bill. Democratic Senators and Reps said they would not vote for the “bipartisan” infrastructure bill if the reconciliation bill was not passed first. All $3.5 trillion (actually $5.5 trillion).

Democrats may have painted themselves into a corner because they only have a three vote lead in the House and are, as of now, down by four votes in the Senate. Bernie Sanders is looking to undermine the bill by saying he will not vote for the infrastructure bill. He tweeted on Monday:

Here’s the problem he fails to see: Joe Manchin and Kyrsten Sinema, who are part of the Democratic caucus, never agreed that this bill was a good idea and were against it from the beginning. Joe Machin wrote an opinion piece for the Wall Street Journal a couple of months ago explaining why it was a bad idea and pointed out that the pandemic proves we need to curtail spending.

So Bernie, last night, went after those two:

This has never been a strategy I’ve understood. Instead of trying to convince these two Senators, let’s just yell at them. That’ll change their minds! Yeah, no.

Also, Bernie is taking the “math is racist” thing and using it for his benefit. It isn’t two Senators that are going to end this bill, it is fifty-two Senators that are going to kill the bill.

So here’s what’s happening at this moment:

• The infrastructure bill vote, which was suppose to be last night, has been postponed because the reconciliation bill negotiations have stalled.
• Negotiations continue as of this morning.
• Joe Manchin says the bill can be around $2 trillion and must include the Hyde Amendment.

I have a feeling this bill will not be voted on until next week…maybe.

https://www.foxnews.com/live-news/infrastructure-bill-manchin-biden
https://www.dailywire.com/news/no-government-shutdown-house-passes-stopgap-funding-bill-to-keep-washington-open
https://www.dailywire.com/news/some-democrats-want-to-mint-a-1-trillion-platinum-coin-to-prevent-debt-crisis
https://www.foxnews.com/live-news/pelosi-delays-vote-infrastructure-bill-dems-deal-manchin

 

She’s Back!

I miss Greta Thunberg. She’s been gone a while. And, since she turned 18, we can say anything about her and we can’t be accused of attacking a child even though, mentally, she is a child because of her mental deficiencies. That might even be controversial if it weren’t for the fact it’s true and she is given so much credibility by the Left.

She’s:

• Dumb.
• Doesn’t understand science.
• Doesn’t understand climate.
• Never gives arguments in her speeches.
• Just yells at us.
• And, watching her last speech, looks like she needs a shower and should wash her hair with some not-environmentally-friendly shampoo.

Good news for her, though! She doesn’t need to use words anymore to make her point. Listen to her speech at a Youth 4 Climate event in Italy:

Couple of things: