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Peter Navarro’s Taking Back Trump’s America

Thelma and Louise, A Fiscal Cliff, and the Next House Speaker

Peter Navarro’s Taking Back Trump’s America

InTrumpTimePress

Government, News, News:politics, Politics, Business News

4.7867 Ratings

🗓️ 9 October 2023

⏱️ 13 minutes

🧾️ Download transcript

Summary

READ THE TRANSCRIPT AT HTTP://PETERNAVARRO.SUBSTACK.COM Who will House Republicans choose as their next Speaker? Will that Speaker demand meaningful debt reduction as a condition of raising the debt limit? These imminent decisions are ineluctably intertwined. Absent meaningful debt reduction, our republic is headed over a fiscal cliff that will make Thelma and Louise’s suicide plunge into the Grand Canyon look like a soft landing. It is therefore imperative America’s next House Speaker have both the brains and backbone to roll back America’s fiscal crisis.

Transcript

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0:00.0

The House Speaker and Louise and the next House Speaker.

0:04.0

Who will House Republicans choose as the next Speaker?

0:08.0

Will let Speaker demand meaningful debt reduction

0:12.0

as a condition of raising the debt limit.

0:15.4

These imminent decisions are ineluctably intertwined.

0:20.3

Absent meaningful debt reduction, our republic is headed over a fiscal cliff that will make

0:27.1

Thelma and Louise's suicide plunge into the Grand Canyon look like a soft landing. It is therefore imperative America's next

0:37.2

House Speaker have both the brains and backbone to roll back America's fiscal crisis.

0:44.0

I'm not sanguine about success.

0:47.0

Fully 210 of 218 House Republicans voted

0:51.0

to keep a speaker who had openly collaborated with House Democrats and

0:55.1

Rhino senators to pass a gaggle of Biden-Nomic spending bills. This

1:00.8

Uniparty fiscal orgy has ignited a virulent inflation,

1:05.8

trigger to wage price spiral, and resulted in the most rapid rise in

1:10.3

interest in mortgage rates in decades. With no small irony, the eight

1:16.0

House Republicans who stood in the fickle breach are being branded as

1:20.6

extremists simply for pointing out what every American outside the House and

1:26.1

Senate chambers knows. Our fiscal position is untenable. Today our public debt stands at $33 trillion and America's debt to

1:36.8

GDP ratio which measures the ability of our economy to both provide public

1:42.2

goods and services and still service the debt is

1:45.9

well north of 120%. Global financial markets scream danger when any country hits a debt to GDP ratio above 70%.

1:56.0

Yet the Congressional Budget Office projects America's debt to GDP ratio will rise to nearly 200% by 2053.

...

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