In 2017, I wrote that GOP tax cuts were a catastrophe for USA because they came at a time of economic strength and massive debt - something never been done in history of the world. The problem, I said, was that there would inevitably be an economic.../1…
...turn, one that could easily transform into a disaster because of the precarious nature of our fiscal house caused by the cuts. The big danger: The interest on the debt as a percent of the budget. We are borrowing more money to pay the interest, which means we are paying....,/2
...more interest, which means we have to borrow more, etc. Traditionally, during a financial catastrophe, government increases spending and cuts taxes. But, because of GOP recklessness, we did the *opposite* - increased spending and cut taxes during boom times. It is like.../3
...using the fire extinguisher when there is no fire. When fire comes along, there is nothing to put it out. Last night, @GStephanopoulos correctly asked Biden about raising taxes on wealthy during this economic crisis. The reality is, the recklessness of the GOP has left no.../4
...options. In order to pump up the stock market, they flooded economy with cash when things were strong, then the Fed did everything it could to prevent the bubble from popping by adding more cash (which it's continuing to do now, a big reason why the market is up) And Trump../5
...kept pushing & pushing for negative interest rates *in a strong economy* to keep BS valuations going. I never imagined one party would be so reckless, but there we are.

This will be *very* hard to get out of, and as usual, it is up to the democrats to fix this nightmare.../6
...but we can't cut spending without killing the economy. We cant raise taxes on the group that spends its money (middle class and below) without killing the economy. It would be best to have never had these ridiculous tax cuts, but there is no choice but to reverse the ones.../7
...for the rich. No economy can survive borrowing to pay interest on its borrowings in perpetuity. The short-term boom of the GOP will cripple this country if not managed. And they will not manage it because, like in everything else (Covid, etc) dogma trumps reality for them.../8
...I dont know if the democrats can maneuver out of this disaster. In 2009, the last time there was a GOP fiscal and economic disaster to unwind, I did not think Obama could pull it off, but he did. So I am willing to suspend my disbelief. BUT if the GOP takes the senate or.../9
...the presidency, ideology will continue to drive reality. We will be unable to fix this. And it all will come falling down because, as interest on the debt takes up more & more of the budget, investors in our debt will see what's coming & cut back on buying. We will have.../10 start chasing investment by raising interest rates because the risk of holding US debt will go up. (Particularly if the GOP starts talking about defaulting again, like they did during Obama.) So, on top of everything else, we are approaching a point of no return..../11
...if you are voting for your tax cuts, you're an idiot. Because this is unsustainable and what's the big deal about tax cuts when the market collapses as interest rates go up?

Vote to save this country, not for temporary and idiotic greed.

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More from @kurteichenwald

13 Oct
This election year is the ultimate evidence that the GOP is an anti-American, anti-democracy relic of a white racist past that must die. The massive lines for voting, the millions of hurdles placed in front of an exercise that is supposed to be *encouraged,* not suppressed.../1
...that is hindered by a minority party that regularly fails to win the popular vote, that is opposed by the majority of voters at all levels of federal government, & that has nothing to offer but lies, conspiracy theories, racism and voter suppression. This morning, one of.../2 sons was bemoaning that we dont have a system like in Australia, where voting is mandatory. When I asked why, his answer was so revealing: "Then I'd have a government working to help me vote and make it easier, not trying to stop me from voting by making it hard".../3
Read 7 tweets
12 Oct
While @BenSasse gives his "Oh, Im so much purer than everyone else, let me tell you about civics," let's discuss what a lying sleaze he is.

He declared in 2016 that Merrick Garland would not be confirmed. Period..../1 the president and the senate can do whatever they want under the Constitution. Got it.

2nd, he said hed confirm only if Obama's nominee specifically repudiated the very concept that Obama used sometimes, but Sasse cheered when Trump made it a hallmark of his presidency...
...oh, and once again, he said of COURSE he would confirm a nominee, if of course, that nominee followed the policy prescriptions Sasse wanted, until Trump took unilateralism and turned it into a sledgehammer, to Sasse's cheers....
Read 5 tweets
12 Oct
Just to show why I will dedicate my life to tearing the GOP to the ground, a few items I have written over the years which might put meat on the bones of my rage.

In 2017:
...also, in 2017:
...also, in 2017:
Read 8 tweets
11 Oct
Ah, @RichLowry - the intellectual lightweight or fraud. Ok Rich - so *technically,* if you want to play that game, court packing only refers to FDR's efforts with Judicial Procedures Reform Bill. Why was that different than, say, the size changes in 1801, 1807, 1837, 1868.../1
...because expansion/contraction was only nakedly partisan in 1868 and 1937. But the idea here, @RichLowry, was the underlying effort could either be or not be pure partisanship to swing the ideology of the court. Now, the GOP has done just that - blocking nominees to hold open..
...a seat for partisan purposes, rushing a nominee for purely partisan purposes. They have *packed* the court, @RichLowry, with a singular ideology by abusing the advice and consent standard to a point that would make the Founders throw up. This CANT stand. This country cant...
Read 6 tweets
11 Oct
With the GOP packing the court NOW, and @MSNBC and @CNN reporters breaking out the fainting couches about what Biden would do: Why weren't they wailing when the GOP said they would not confirm ANYONE if Hillary Clinton won the election in 2016?..../1…
...or even worse, the conservative think tanks that argued the supreme court should be allowed to DIE rather than allowing Clinton to seat nominees...… now, they go "Oh...why won't biden say what he will do?'" Because, you morons:
1. The GOP has not succeeded yet in its packing effort that you are treating as acceptable.
2. He doesnt know yet if the court will flip to a purely political body, 6-3.

Now, no doubt that...
Read 4 tweets
11 Oct
Seriously, @kaitlancollins - you guys need to address this both with history and with recent events. GOP has packed the court: Refusing to consider confirming a dem nominee, rushing through a GOP. There was LESS coverage when GOP said they'd never confirm an Hilary nominee.../1
..once GOP started rushing the latest nominee - in total violation of their Garland "rule" - it was clear this was not principle in 2016, it was packing. So, the only words from BIden that matter, @kaitlancollins is AFTER the GOP packing became undeniable recently. Second, it...2
...would be reckless just to say "I'm packing it." Alito and Thomas have shown themselves to be nothing but lifetime senators. Their findings never waiver from GOP policy positions, even if they contradict the standards of their own previous rulings. This is not true yet of...
Read 7 tweets

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