President Donald Trump may end up a one-term president, given he seems to be walking in President George H.W. Bush’s footsteps says a former economics assistant professor in his column at Bloomberg Opinion.
Trump’s tariffs, if they all go into effect, “will amount to a $200 billion annual tax increase,” writes Karl Smith. “That’s larger than the $165 billion average annual reduction in 2017’s Tax Cut and Jobs Act.”
As it is, most Americans say they didn’t feel the Trump tax cuts, and that’s likely because they were designed to greatly benefit the wealthy – despite Trump’s lies to the contrary.
“If fully implemented, this next phase of Trump’s tariffs will cost the average household up to $1,795 per year — $495 more than the bank’s estimate of the average increase in disposable income from tax reform,” Smith reveals.
“In his 1988 campaign, Bush famously asked the public to read his lips when he promised ‘no new taxes,'” Smith writes.
It was August 18, 1988. Take a look:
“The final package included increases in both income and payroll taxes and went into effect in 1991. In the next year’s campaign, Bush had to deal with rising unemployment and withering criticism in both the primary and the general election over his decision to go back on his pledge.”
“Bush’s brazen break with Republican orthodoxy, along with a sluggish economy and broken promises, made him a one-term president. If Trump’s not careful, he may join him,” he observes.
Indeed, recession fears are spiking, it’s clear – and economists tell us – the economy is already slowing down. And just last week Trump’s own Dept. of Labor revealed the economy in 2018 produced 500,000 fewer jobs than originally thought.
Trump of course will never, ever acknowledge that he’s effectively raising taxes, because he lies habitually, cannot ever admit mistakes, and repeatedly – and falsely – continues to claim that China is paying the tariffs, which most Americans now know is a load of malarkey.
“This combination of weak growth, a rising tax burden and broken promises echoes the 1992 election. In addition, Trump is already accumulating primary challengers who will no doubt criticize him for his failure to deliver. When the Democrats pile on, it will be that much harder for the president to make his case for re-election,” Smith says.
He’s right, and it will be expensive for most Americans. And perhaps, finally, something will cost President Trump the White House.
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Jim Jordan, a ‘Significant Player’ in Trump’s Efforts to Overturn Election Results, Running for Speaker of the House
House Judiciary Chairman Jim Jordan unexpectedly announced Wednesday morning he will run for Speaker of the House after several far-right Republicans ousted Kevin McCarthy Tuesday. Jordan, a far-right Republican who supported McCarthy, reportedly was “deeply involved” with, and a “significant player” in Donald Trump’s efforts to overturn the results of the 2020 presidential election.
Chairman Jordan, who created and also chairs the House Select Subcommittee on the Weaponization of the Federal Government, has used both platforms to further Republicans’ false claims on a wide range of issues.
Just two weeks ago, CNN reported, “Jordan made false claims in his opening remarks at a Wednesday hearing at which Jordan and other Republicans pressed Attorney General Merrick Garland about the Justice Department’s handling of investigations into former President Donald Trump and President Joe Biden’s son Hunter Biden.”
In his Wednesday “Dear Colleague” letter announcing his run for the Speakership (below), Jordan made clear his positions, while claiming the Republican House “majority has had success in the first nine months of the 118th Congress. We should be proud of what we have achieved together in these divided times.”
According to Legiscan, which tracks all legislation across the country at the state and federal level, the Republican House this year has had just eight bills signed into law.
One suspended the debt ceiling for a specified period of time. One, passed and signed into law on Saturday, avoided a shutdown of the federal government.
Others, for example, “require the Secretary of the Treasury to mint coins in commemoration of the 250th Anniversary of the United States Marine Corps,” and “establish a task force on improvements for notices to air missions.” One focused on “Trade between the United States of America and Taiwan.” One will “designate the clinic of the Department of Veterans Affairs in Indian River, Michigan, as the ‘Pfc. Justin T. Paton Department of Veterans Affairs Clinic,'” and one will “take certain land located in San Diego County, California, into trust for the benefit of the Pala Band of Mission Indians, and for other purposes.”
In his letter Jordan also railed against “Far-left progressive policies” which, he says, “are destroying our communities, our security, and our future,” followed by a list of regular GOP claims like “soaring crime across the country,” and “an administration with open-border policies.”
But if Jordan is elected, the nation would have as second in the line of succession to the presidency a Speaker who The New York Times has reported, “was deeply involved in President Donald J. Trump’s effort to challenge the 2020 election outcome.”
In May of last year, the Associated Press reported on Jordan’s efforts to help Trump overturn the election:
“Rioters who smashed their way into the U.S. Capitol on Jan. 6, 2021, succeeded — at least temporarily — in delaying the certification of Joe Biden’s election to the White House,” the AP wrote. “Hours before, Rep. Jim Jordan had been trying to achieve the same thing.”
On January 6 of this year, exactly two years after the 2021 insurrection, David Corn at Mother Jones warned: “House Speaker Fight Shows Election Deniers Who Tried to Overthrow Democracy Still Control GOP.”
That Speaker fight ultimately ended with Kevin McCarthy being handed the gavel after fifteen attempts, and ended Tuesday afternoon when eight of his own House Republicans, led by Matt Gaetz, essentially fired him.
“Trump coup accomplices Jim Jordan and Scott Perry have become two of the GOP’s biggest powerbrokers,” Corn wrote, adding: “Perry and Jordan stand out for their significant participation in Trump’s anti-constitutional and arguably criminal caper.”
As Corn and others have noted, the U.S. House Select Committee on the January 6 Attack deemed Jim Jordan “a significant player in President Trump’s efforts.”
Jordan, the January 6 Committee wrote, according to Mother Jones, “participated in numerous post-election meetings in which senior White House officials, Rudolph Giuliani, and others, discussed strategies for challenging the election, chief among them claims that the election had been tainted by fraud. On January 2, 2021, Representative Jordan led a conference call in which he, President Trump, and other Members of Congress discussed strategies for delaying the January 6th joint session. During that call, the group also discussed issuing social media posts encouraging President Trump’s supporters to ‘march to the Capitol’ on the 6th.”
In February of 2022 CNN reported, “Newly obtained records show Trump and Jim Jordan spoke at length on [the] morning of January 6.”
“Two sources who have reviewed the call records tell CNN that Trump spoke on the phone at the White House residence with Jordan for 10 minutes on the morning of January 6. That afternoon, Jordan took to the House floor to object to the certification of President Joe Biden’s Electoral College win, and pro-Trump supporters attacked the US Capitol.”
Jordan also refused to obey a subpoena lawfully-issued by the House January 6 Committee. He was unanimously referred to the House Ethics Committee in December of 2022, which Republicans gutted when the officially took the majority in January.
Read Jordan’s letter below or at this link.
— Rep. Jim Jordan (@Jim_Jordan) October 4, 2023
‘I’m Broke’: One Day Before Shutdown and With No Plan McCarthy Says He Has ‘Nothing’ in His ‘Back Pocket’
Just 30 hours before his own Republican conference likely will have succeeded in shutting down the federal government of the United States, Speaker of the House Kevin McCarthy candidly admitted to reporters he’s run out of ideas.
Earlier Friday in an “embarrassing failure,” 21 House Republicans killed legislation from their own party, a short-term continuing resolution, that would have kept the federal government open.
Later on Friday afternoon, swarmed by reporters, McCarthy was asked if he was going to tell them what his plans are. He sarcastically replied, “No, I’m going to keep it all a secret.”
When pressed, he said he would “keep working, and make sure we solve this problem.”
“What’s in your back pocket, Speaker?” another reporter asked, pressing him for an answer.
“Nothing right now. I’m broke,” he admitted, apparently referring to options and ideas to avoid a shutdown.
But another reporter asked Speaker McCarthy the main question: Would he partner with House Democratic Minority Leader Hakeem Jeffries to put the Senate’s bill before the House.
He refused to answer.
After Speaker Kevin McCarthy’s (R-CA) failed House vote to keep the federal government open…
Reporter: “What’s in your back pocket, Speaker?”
McCarthy: “Nothing right now. I’m broke.” pic.twitter.com/pB2SWhOSVr
— The Recount (@therecount) September 29, 2023
Just before 5 PM CNN’s Manu Raju reported on the ongoing House Republicans’ closed-door meeting with the Speaker, a meeting where the 21 Republicans who will likely be effectively responsible for the shutdown reportedly did not attend.
“McCarthy is telling [Republicans] now there aren’t many options to avoid a shutdown, according to sources in room. He says they can approve GOP’s stop-gap plan that failed, accept Senate plan, put a ‘clean’ stop-gap on floor to dare Democrats to block it — or shut down the government.”
He adds, U.S. Rep. Matt Gaetz (R-FL) largely responsible for the impending likely shutdown and the impending possible ouster of McCarthy said: “We will not pass a continuing resolution on terms that continue America’s decline.”
At midnight Saturday Republicans will likely have succeeded in furloughing 3.5 million million federal workers – two million of them service members in the U.S. Armed Forces – and countless contractors, while financially harming untold thousands of businesses that rely on income from all those workers to keep running – unless Speaker McCarthy puts a bipartisan continuing resolution approved by at least 75 U.S. Senators on the floor, legislation every House Democrat is likely to vote for.
Should he do so, many believe he will have also signed his own pink slip.
But whether or not the government shuts down, and whether or not McCarthy puts the Senate’s CR on the floor, according to The Washington Post the far right extremists in his party are already moving to oust him “as early as next week.”
The Biden campaign is making certain Americans realize the blame for the impending shutdown sits at McCarthy’s feet.
Here is Kevin McCarthy a few months ago praising the deal he made with President Biden to avert a government shutdown, which he is now reneging on pic.twitter.com/B4rVNzNXkZ
— Biden-Harris HQ (@BidenHQ) September 29, 2023
At 6:23 PM Friday evening, Punchbowl News’ Jake Sherman wrote on social media: “HOUSE REPUBLICANS HAVE NO PLAN TO KEEP GOVERNMENT OPEN.”
Watch the videos above or at this link.
‘See How Easy That Is to Say?’: GOP Mocked for ‘Weaponization’ of DOJ Claims as Democratic Senator Gets Indicted
The U.S. Dept. of Justice unsealed an indictment against U.S. Senator Bob Menendez late Friday morning, accusing the New Jersey Democratic lawmaker of bribery as prosecutors showed photos of gold bars and nearly half-a-million dollars in cash stuffed into a jacket that bears his name and the seal of the U.S. Senate.
Many on the left immediately demanded Senator Menendez resign, a demand he is refusing. He will step down as chairman of the Foreign Relations Committee, which Senate Democrats require when a chair is criminally charged.
It took little time for liberals to mock Republicans who have been claiming President Joe Biden and Democrats in general, along with the “deep state,” have “weaponized” the Dept. of Justice against conservatives, especially after Donald Trump’s four indictments on a total of 91 criminal felonies.
“Let me get this straight,” wrote journalist and progressive SiriusXM host Dean Obeidallah. “To the GOP, when DOJ indicts President Biden’s son and a senior Democratic US Senator that is great. But when DOJ indicts Donald Trump for attempting a coup and for 32 counts of Espionage that is DOJ’s ‘weaponization’ of criminal justice?!”
“This is the second time that Sen. Bob Menendez has been indicted for corruption. He needs to resign and allow Gov. Murphy to fill that vacancy with someone who does right by the people of New Jersey,” wrote former Human Rights Campaign press secretary Charlotte Clymer. “See how easy that is to say, GOP?”
Journalist, author, and former Clinton White House aide Keith Boykin posted video of the prosecutor announcing the indictment.
US Attorney Damian Williams shows photos of the Mercedes Benz, gold bars, and cash the government alleges Senator Robert Menendez received in bribes. pic.twitter.com/h4hYYwzKVQ
— Keith Boykin (@keithboykin) September 22, 2023
Boykin later sarcastically commented, “There goes Biden again weaponizing the Justice Department to prosecute political leaders in his own party.”
“President Joe Biden’s weaponized Department of Justice has now indicted Democratic Senator Bob Menendez and *checks notes* Joe Biden’s son,” observed veteran intelligence officer, activist, and social media personality Travis Akers.
Attorney and former Republican George Conway quickly responded, saying, “senile sleepy Joe is playing 65-dimensional chess again.”
“Menendez should resign. Today,” demanded historian and author Kevin M. Kruse.
“One of the nice things about rule of law is that truly believing in it ensures that you don’t end up as a partisan hypocrite,” observed The Atlantic’s Brian Klaas, an associate professor in global politics at University College London. “If Menendez is guilty, he should go to prison as anyone else would. (And it would be prudent to resign swiftly).”
Meanwhile, some used Friday’s indictment of Sen. Menendez to focus on other political figures.
Foreign policy, national security and political affairs analyst and commentator David Rothkopf, warned, “The Menendez case should have Jared [Kushner] and Clarence [Thomas] ordering extra strength Tums today.”
Rachel Bitecofer, the political strategist and analyst also appeared to point the finger at Justice Thomas and his wife, Ginni.
You know who else hid money from the IRS and ran his bribes through his wife?! pic.twitter.com/kWJuAPCtbJ
— Rachel Bitecofer 📈🔭🇺🇲🇺🇦 (@RachelBitecofer) September 22, 2023
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