Tuesday, July 23, 2019

Trump, Pelosi apparently agree on debt ceiling



Well, good news.  Trump and Pelosi cooperated and made an agreement on the debt ceiling issue, to suspend it until July 31, 2021 (as if the coincidence with a Major League Baseball trading deadline matters).  NPR reports. 
Trump actually announced the deal on Twitter, and the upbeat tone is a bit surprising. Hope there are no untied strings attached to trip and fall on. 

Update: July 24

Robert Costa and Mike DeBonis of the Washington Post make an anology to the film "Thelma and Louise" and note that the Republicans, under Trump, are less ideological about the debt ceiling than they were a few years ago (with Boehner and the grand bargain of 2011). 

Monday, July 15, 2019

Could the "woke" left manipulate a coming debt ceiling deadline (before Congress returns in September) to demand means testing of the wealthy now?




Mnuchin warned that the US will run up against the debt ceiling before Sept. 9, 2019, when Congress returns from vacation.


Bloomberg warns that the “woke progressives” may try to hold the debt ceiling hostage to get their way, whereas in the past we worried that Trump could hurt people and send them to the shame of beginning on GoFundMe to get his way.

While most legal arguments seem to say that (despite Flemming v Nestor) the Social Security Trust fund is likely to remain protected and safe, there is a bit of a concern about people with inheritances. 

The Woke Left could try to raid them with rather sudden implementation of means testing as a stunt.  
  
  When you inherit something you didn’t earn it, so it can be taken away from you and you make not get it back. So much for the rule of Law with the radical Left.

Update: July 16

Catherine Rampell has an article "Abolish the debt ceiling now", no strings attached, today, in the Washington Post opinion pages, here

Thursday, July 04, 2019

Anderson Cooper says he doesn't believe in inheritance -- could he use his to run for president?


Anderson Cooper, the meticulous and openly gay journalist who has a major evening show AC360 on CNN, and whose political views tend to be centrist and moderate (relative to the Democratic Party) has said that he doesn’t believe in inheritance, after learning he had inherited most of his late mom’s $200 million estate. 


Anderson can say he paid his dues as a journalist as a younger man by reporting from Southeast Asia.  Sebastian Junger can make similar claims with his own life.

In fact, Anderson’s knowledge of policy is so extensive that he could have been a logical candidate for president (joining Buttigieg?)   Could the fortune make him think about this? Should a journalist run for president? What if Sebastian were to run?

Market Watch, this morning, notes that most kids need their family inheritances to get through life, an unsustainable situation. 
  
Market Watch has another article showing how wealthier parents can help their kids earn inheritances.   Gloria Vanderbilt did it right with Anderson.
  
If you look at kids who do well (John Fish, Jack and Luke Andraka, Taylor Wilson-scientist) they all had parents who inspired them to be productive and think through their own goals, apart from tribes or the opinions of others – a bit of Ayn Rand individualism.  Fish has a video explaining that his father (in Canada) is a physics teacher, so that certainly gives him an edge.
      
I can remember, however, that some on the extreme Left want to expropriate and do away with inherited wealth.  I saw this with the People’s Party of New Jersey back in 1972.  It happened to Andy Ngo’s parents in Vietnam in the 1970s (as it went all communist in 1975).