New politics thread

[-Jrabbit]

It's politically stupid, especially since Cruz has been in the forefront of criticizing Dems for "abandoning" their constituents during emergencies, including the mayor of Austin and (of course) Obama. The fact that he changed his travel plans makes it all a bit sad and quite ironic.

But hey, the media is talking about vacation optics instead of him trying to help overturn the election, so that's kind of a win. Plus, he doesn't have to run again until 2024.

[EPW]

Wait until they discover he's a Cuban.

[-Jrabbit]

Half-Cuban. And fully Canadian!

[Dauphin]

Ted Cruz, the son of a Cuban immigrant who got his original visa through bribery and claimed ‘asylum’ when his four year student visa expired despite several speeches in favour of the Revolution, his real name is Rafael - he started going by Ted after becoming a teenager.

[BeBMan]

It is not a good look but I wonder what you think a US senator is supposed to do when Texas's electrical grid is entirely with in its own state and is not covered by Federal regulations?

Rep. Alexandria Ocasio-Cortez (D-N.Y.) late Thursday raised $1 million for Texas relief organizations that are working to help the people suffering from the record-setting winter storm, and said she will make a trip to Houston this weekend.

“$1M raised in direct relief for Texans in less than a day,” Ocasio-Cortez tweeted. “As a thank you to everyone who contributed & amplified, I’ll be going to Texas this weekend to visit w/ @LaCongresista in Houston & highlight what’s happening on the ground.”

(...)

The money Ocasio-Cortez raised is being split between The Bridge Homeless Recovery Center, Ending Community Homeless Coalition, Family Eldercare, Houston Food Bank and Feeding Texas.

https://thehill.com/homenews/house/5...rip-to-houston

Might be unfair to compare her to Cruz, since she's neither a senator nor in Congress for Texas...

[Uncle Sparky]

A song for Ted Cruz...

[Uncle Sparky]

Meanwhile - AOC is giving out aid raised in NY by Dems... She's striking while the Kool-Aid is frozen!

[Buster Crabbe's Uncle]

[Uncle Sparky]

In other news, Canadian PM Trudeau, flanked by several top cabinet members, had a virtual meeting with American President Biden, flanked by several cabinet members yesterday. Large parts of it were broadcast, and there seemed to be a general accord on bilateral issues. A couple of times Trudeau seemed almost giddy talking about improved relations, and I have yet to read anything about Biden tweeting 'Trudeau is a fink' post-meeting.

While we definitely have differences, at least we know that the US president isn't an asshat, and what was discussed yesterday won't be attacked by far right commentators tomorrow, and even if it is, that won't change US policy.

[Ben Kenobi]

I am in favor of the Biden plan.

I'm not. Prior to the pandemic in February I did a budget analysis. Based on expected gradual increases in spending the US had about 1.5 T of fiscal capacity (assuming zero percent growth), before mandatory spending encompassed 100 percent of public spending.

This was all pre pandemic. 4T has already been spent, putting the US about 2.5T in debt. Further spending is just going to further erode US fiscal stability.

Mandatory spending does NOT include the military. I'm not sure what the plan to actually pay for all these things, but there's only about another 22/23T in debt capacity before the US is completely bankrupt. That's around 42/43T in debt. Projections show US hitting that in 2050 or so.

But I think it might be worth compromises. While I think a 15-dollar minimum wage, for example, is a good idea, the reality is that the most important things areWhile increasing the minimum wage is important for inequality which has been destroying America, and it would do a lot to help America recover, in the end it isn't required for the latter and the first is just not the biggest priority after Trump. Helping to bring Republicans back to the table is... and that could mean compromise. And I do not mean like Obama did where he compromised and then the Republicans back out... I mean compromise where the Republicans actually vote and contribute. I think that is what might happen with the Republican group.

Only 8 percent of the spending is on corona items. The rest is just state debt getting rolled into Federal debt. Another 2T will Push the US to around 23 or so Trillion with about another 20 or so.

I think that Bidden does need to insure that States and Cities get some support.

Why? All this does is just make fiscally solvent states pay for fiscally irresponsible ones. US can't keep bailing everyone out.

[Berzerker]

howdy, welcome back

[Uncle Sparky]

White House spokesperson has said a 'recalibration' of Americas relationship to Saudi Arabia will be announced soon.

[Berzerker]

hopefully Biden tries to end that war too

[Jon Miller]

I'm not. Prior to the pandemic in February I did a budget analysis. Based on expected gradual increases in spending the US had about 1.5 T of fiscal capacity (assuming zero percent growth), before mandatory spending encompassed 100 percent of public spending.

This was all pre pandemic. 4T has already been spent, putting the US about 2.5T in debt. Further spending is just going to further erode US fiscal stability.

Mandatory spending does NOT include the military. I'm not sure what the plan to actually pay for all these things, but there's only about another 22/23T in debt capacity before the US is completely bankrupt. That's around 42/43T in debt. Projections show US hitting that in 2050 or so.



Only 8 percent of the spending is on corona items. The rest is just state debt getting rolled into Federal debt. Another 2T will Push the US to around 23 or so Trillion with about another 20 or so.



Why? All this does is just make fiscally solvent states pay for fiscally irresponsible ones. US can't keep bailing everyone out.

First, the spending is one-time to alleviate suffering due to COVID. It isn't part of standard spending and can easily be payed for by making sure that we hit our inflation targets.

Second, it is obvious that we have no need to be concerned about our debt which is average among nations. The last 40 years have proven this to us, and our inflation rate the lasts decade or sos has been much lower than it should be.

Third, while 8 percent might be directly COVID related (I didn't check), there has been a lot of costs to States, Cities and so on due to COVID and they need help. They need help so that they can get people back to work, get kids back to school and so on. This is a huge multiplier even (although it isn't stimulus). So it is COVID related, even if only a little bit is for vaccines/PPE/etc.

JM

[Kidlicious]

Do you know about interest rates and inflation?

[Kidlicious]

White House spokesperson has said a 'recalibration' of Americas relationship to Saudi Arabia will be announced soon.

They are finding new ways to f sh1t up.

[Jon Miller]

In history, most national debt has been dealt with by inflation and not other mechanisms.

Difficult interest payments generally have more to do with debt in other currencies and not in a nations currency. Having debt in other currencies can be bad.

JM

[Kidlicious]

Inflation deals with the debt, but the interest adds to it. And inflation leads to higher interest rates.