Speaker of the House is Vacated - What Next?

[Mercor]

The Democrats do vote in lock step

 

[vanzandt]

Well, you have had it easy in recent history. Pelosi ran the whole show and told you how you would vote and saw that dissenters got ostracized. So you have not had to deal with the thorny problems of democracy of late in the House. Pelosi told you what to do. Worry about getting a majority in the house and report back after the election.

Actually, I would recommend more dissent amongst Republicans in regard to the Senate leadership, not less. It has become totally fossilized by Mitch. That type of thing was right for dems/Pelosi because the dems like to follow scripts. The republicans have to deal with free-thinking and different views popping up all the time. Not a problem for dems.

The S&P looks like it wants Jordan to win. I better turn on C-Span.
I like the way oil jumped when it became obvious he'd lose round 1.

 

[Atlantic]

Seeing that Jim Jordan can't even run the House Judiciary Committee without it turning into a complete circus... his "leadership" as Speaker may be good for Democrats in the upcoming election but it is bad for the country as a whole.

Jim Jordan lacks everything he’d need to lead as House speaker
The Ohio Republican is the ultimate show horse.
https://www.msnbc.com/opinion/msnbc-opinion/jim-jordan-house-speaker-fox-news-rcna120593

if trump would die tomorrow - what would all these magatards do then?

maybe kill themselves?

that would be great.

 

[Bugenhagen]

if trump would die tomorrow - what would all these magatards do then?

maybe kill themselves?

that would be great.

Like a ramora when it's shark dies it would swim around for a bit and latch on to the next one passing.

 

[piezoe]

I figured you would be the first to reply to a relatively obscure reference
Like John Brown, Gaetz has made the first radical protest against the $33Trillion debt

There's no debt! There are other potential problems, but debt is not one of them. If you could print dollars would you have any dollar denominated debt? The current face value amount of outstanding Treasury securities is roughly 25T. ~ Two-thirds is held by domestic interests. The reminder is foreign held. Treasuries held by the private sector are private sector savings. If the ersatz debt was all bought back tomorrow, which could be done, current government liability would not change, but the future income of the private sector would have to be revalued lower.

 

[vanzandt]

So cspan was re-running the 1st vote.
There was no second vote yet.

 

[Mercor]

There's no debt! There are other potential problems, but debt is not one of them. If you could print dollars would you have any dollar denominated debt?

In June, the Congressional Budget Office (CBO) projected that annual net interest costs would total $663 billion in 2023 and almost double over the upcoming decade, soaring from $745 billion in 2024 to $1.4 trillion in 2033

 

[piezoe]

In June, the Congressional Budget Office (CBO) projected that annual net interest costs would total $663 billion in 2023 and almost double over the upcoming decade, soaring from $745 billion in 2024 to $1.4 trillion in 2033

That's correct so far as I know. That doesn't mean there is any real debt in the same sense as we in the private sector understand debt. There is a current and future liability. But all money, in any of its forms, issued by the U.S. is a U.S. government liability and a private sector asset. Eliminate that liability and you eliminate U.S. money!

Private sector debt, a liability, must be paid back with the expenditure of time and energy. Government, on he other hand, can relieve itself of its liability to the private sector by taxation. You can't do that. (But you know that!)

 

[Mercor]

That's correct so far as I know. That doesn't mean there is any real debt. There is a current and future liability. But all money, in any of its forms, issued by the U.S. is a U.S. government liability and a private sector asset. Eliminate that liability and you eliminate U.S. money!

That was a question that came up around year 2000. There were a couple of years with no annual deficit and the question was with no debt to sell would the Bond market need to exist.
9/11 ended that

 

[gwb-trading]