Shutdowns | The Professor's Convatorium

Never before in our country’s 247-year history has a Speaker of the House been ousted, removed, and forced to vacate. In a vote of 216 to 210, Speaker Kevin McCarthy has been (for the moment) terminated for NOT being the Speaker of the House chamber! He was not the House Speaker for the Republican party, but by bound duty the Speaker of the U.S. House of Representative to legislate and get bills, acts, and appropriations done. That was his sworn duty. Period. According to a majority of his own House Republicans, he failed and failed miserably.

Since this historic vote took place earlier this afternoon, I’ve watched and heard many interviews with Republican Representatives by the mainstream news outlets, and all of the Republican Reps kept trying to harp on the national debt of $31.4–$33 trillion. It is the typical deflect and divert tactic away from the sheer chaos today’s Republican party is in… and it is their own fault, their own catastrophe they themselves created in 2010–2016.

But nonetheless, let’s look much closer, much deeper into the context of their panicked response to McCarthy’s removal: the national debt and deficit that supposedly, according to them, was caused by Democratic administrations. Grab the microscopes.

According to the Pew Research Center, a reliable established goliath in research reporting and objective fact-checking, there are five (5) facts about our accumulation of national debt that the mainstream news outlets rarely get in-depth about.

The federal government’s total public debt stood at just under $31.46 trillion as of Feb. 10^th, 2023. Nearly all of that debt – about $31.38 trillion – is subject to the statutory debt limit.
For several years, the nation’s debt has been bigger than its gross domestic product (GDP). Read the Pew article for more in-depth details.
21.8% of the public debt, or $6.87 trillion, is owned by another arm of the federal government itself. This includes Medicare; specialized trust funds, such as those for highways and bank deposit insurance; and civil service and military retirement programs. But the biggest chunk of those “intragovernmental holdings” belongs to Social Security.
The Federal Reserve System is the single largest holder of U.S. government debt. The Fed bought Treasuries in massive quantities during the COVID-19 pandemic in an effort to keep the U.S. economy from buckling under the strain of shutdowns and quarantines.
Servicing the debt is one of the federal government’s biggest expenses. Most of this spending is on veterans’ benefits and services due to wars in Afghanistan and Iraq, which is more than it will spend on elementary and secondary education, disaster relief, agriculture, science and space programs, foreign aid, and natural resources and environmental protection.

I highly recommend you read closely this Pew Research Center article.

Another source of factual data comes from ABC News May 2023 article by Alexandra Hutzler, entitled “How US national debt grew to its $31.4 trillion high.”

How did it grow to $31.4 trillion?

The national debt has grown significantly since the early 1980s under both Republican and Democratic administrations.

The largest percentage increases to the debt occurred under Presidents Ronald Reagan and George W. Bush, both of whom enacted tax cuts that led to large deficits. […]

Flashpoints that greatly contributed to the debt over the past 50 years include the wars in Iraq and Afghanistan, the 2008 financial crisis and the 2020 COVID-19 pandemic — the latter two prompting sweeping stimulus measures from Congress that cost trillions of dollars.
— alexandra hutzler, abc news, may 18, 2023 — accessed at: https://abcnews.go.com/Politics/us-national-debt-grew-314-trillion-high/story?id=99429867

And let me add to the last point of the COVID-19 pandemic, our administration at that time, the GOP and tRump, did very little (if anything substantial) for the preparation of this country to go to WAR against a highly contagious, lethal biological virus! I repeat, tRump and his administration never took the pandemic and public health and safety measures seriously. Hence, look what happened.

Therefore my fellow Americans, when you are bombarded by political party rhetoric and propaganda on this nation’s debt and deficit like those heard today from the House chamber members scrambling and panicking to put out all the fires caused by their own Party, look deeper, look much closer into the factual data. THAT is where you will find the nectar and honey of what they speak about truthfully, or lie about, or divert with vague ambiguous half-truths.

Live Well – Love Much – Laugh Often – Learn Always