Thread by @SeanCasten

We are on a path to blow up not only the US economy but also the global economy for no reason other than a crisis of leadership in the @HouseGOP. It is going to take all the leadership the White House and Senate can muster to get through. Let's review how we got here:

1. First, the ONLY reason we are having this conversation is because the @GOP controls the House and there is a Democratic president. This doesn't happen in any other combination of House/White House control. (See Trump/Ryan 115th, Trump/Pelosi 116th & 117th, etc.)

2. Second, this is NOT about fiscal responsibility. You don't get to rob your local bank just because you have a big credit card bill. And 2/3rd of US debt is held by Americans. Mostly banks! Choosing not to pay our debt is choosing to rob those banks.

3. We also know it's not about fiscal responsibility because the @HouseGOP blew up deficits with their $2T #GOPTaxScam and still refuse to make any changes to that wealth transfer to the 1% that would ameliorate long term debts.

4. We also know it's not about fiscal responsibility because GDP growth and job growth is fairly consistently higher under Democratic presidents. See this data from the bipartisan Joint Economic Commission: jec.senate.gov/public/_cache/…

5. And more job growth, more GDP growth leads - predictably - to more deficit reduction under Democratic presidents.

https://twitter.com/acnewsitics/status/1153694545986621442?s=20

6. IOW, you may disagree with the policies of Democratic administrations on any number of grounds, but there is no objective case to oppose them on fiscal grounds.

7. That frankly shouldn't be surprising. Trickle down economics doesn't work for the simple reason that rich people are more likely to save and poor people are more likely to spend. Give each of them an extra dollar and only the latter puts it back into the economy.

8. Moreover, investing in government services - veterans benefits, food and housing assistance, infrastructure, rail safety, etc... all that gives folks more $ to pay bills, buy a home, start a business.

9. Put simply: a party committed to the idea that government should work is more likely to create a working government that allows the private sector to thrive than one who's members have pledged to shrink government "down to the size where we can drown it in the bathtub"

10. The majority of Americans share this view. The majority of Americans are not nihilistic morons. The majority of Americans do not vote for nihilistic morons. That powerlessness has created a problem for the rump of nihilistic morons in the @HouseGOP caucus.

11. They don't have the votes to destroy the economy. Which is why every budget that Congress has passed has included revenue and spending levels that the NMs do not like. But it passes into law anyway because - again, most of us are not nihilistic morons.

12. Which brings us to the debt ceiling. It is dumb. Congress votes on spending and revenues. We should not have the right to choose not to pay our bills when the former exceeds the latter. Most countries don't allow this silliness. usnews.com/news/articles/…

13. We should get rid of it. @RepBillFoster introduced legislation to do that last term which I was proud to co-sponsor. foster.house.gov/media/press-re…

14. Because until we do, it becomes a tool for the nihilistic moron caucus to try and force concessions that they could not achieve through democratic means. They are happy to blow up the economy because they are nihilists, and too moronic to understand the consequences.

15. Meanwhile, there is no overlap within the @HouseGOP between the reasonable and the brave. The "moderate" wing will cave to the nihilistic morons every time. They see Kinzinger and Cheney not as profiles in courage but as sacrifices they were "smart" enough to avoid.

16. That's why they all voted for a rules package that grants power to the nihilistic morons. Kevin McCarthy is speaker not because of his talents; it's because he's the only one with the combination of ambition and stupidity to want to be the spokesperson for a NM-led caucus.

17. Which is to say that I don't know how this ends. But I do know that if you are counting on Kevin McCarthy or the @HouseGOP to solve our fiscal problems you've given up.

18. And in the meantime, if you'd rather see that in video form, here's me telling this story on the House floor 2 weeks ago. /fin

https://twitter.com/RepCasten/status/1657749354420088839?s=20