The Damage is Done
Author: Greg Valliere
December 20, 2024
THERE PROBABLY WILL BE A BUDGET DEAL IN THE NEXT FEW DAYS — the disgusted public will demand it — but the damage has already been done.
REPUBLICANS WERE LOOKING FORWARD to a holiday victory lap heading into the Jan. 20 Inauguration, but instead there’s a sense of chaos, with some very prominent victims:
* DONALD TRUMP killed his own deal and seemed to take direction from Elon Musk. Trump has no budget plan — he never did — and if there’s a shutdown even for a day or two, he will get much of the blame.
* HOUSE SPEAKER MIKE JOHNSON also has no plan, and is unlikely to survive as Speaker by spring. Why? He doesn’t have the votes, the fatal flaw on Capitol Hill.
* ELON MUSK, drunk on his own power, called the shots for much of this week, and he has entertained speculation that he could become the next House Speaker; you don’t have to get elected to win the job. Republicans are asking: Is Musk a blessing or a curse for the party?
THIS FIASCO HAS put the Republican agenda on hold. The party’s leaders had big plans for early 2025, but now the damage is done. Instead of talking about their ambitious agenda, Republicans will have to deal with raising the debt ceiling, months ahead of schedule — with a president whose negotiating skills are suddenly suspect.
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HAPPY HOLIDAYS TO EVERYONE: Thanks for your very kind words this year, and our best wishes to you and your families. We’ll take next week off, and hopefully you can as well.
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