Author Topic: Government programs & regulations, spending, deficit, and budget process  (Read 393291 times)

ccp

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1150 on: April 23, 2020, 08:55:59 AM »
now we are up to 25 trill. (yea yea these are "loans" blah blah blah or we can go thirld world and government take stakes in the private sector)

we will never be able to pay all this back

like GM forewarned as well as the economist on mark levin , can't recall his name

the US will eventually default


DougMacG

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1151 on: April 23, 2020, 10:40:30 AM »
The 'loans' are not loans.

We will just go on with much higher debt than what was too high before, like a giant anchor or load pulling against us.

ccp

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trillions of gold up for grabs
« Reply #1152 on: April 23, 2020, 02:00:00 PM »
https://www.westernjournal.com/employees-furious-owner-keeps-paying-made-unemployment/

should have met Steve Munchin at a hotel to get more

what a joke

DougMacG

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Smart Government, programs & regulations, spending,
« Reply #1153 on: April 24, 2020, 05:14:52 AM »
Leftists have talked about "smart growth for at least a couple of decades while their adherents took over our schools, our cities, our governments, our metros, our healthcare and our transportation systems.

Roads and bridges deteriorated while kleptocrats diverted highway tax money over to mass transit, light rail, bike lanes and 'green spaces'.

Good for them.  They transformed where we live and where we work, but now their model has failed.  We can't all give up our cars and ride only on buses and government trains as they wished.  If we do, we all die of a virus or get grounded indefinitely and locked in our homes every time a bat vomits on a lab worker on the other side of the world.

Factories will never again fully rely on 'just in time' manufacturing practices again, and government, if it was smart, would reverse its transportation policy.  Raise the prices and tax the mass transit system to subsidize the much safer private automobiles.   Encourage x-urb development where people are spread out and safer, and begin shut down core inner cities like NYC that pose unacceptable public health risks.
« Last Edit: April 24, 2020, 05:20:50 AM by DougMacG »

DougMacG

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Government programs & regulations: FDA Grew, People Died
« Reply #1154 on: April 24, 2020, 07:16:14 AM »
"The FDA has been more of a hindrance than a help. It put the battle weeks behind by blocking the development of private‐​sector virus tests, and its regulations have slowed production of hand sanitizer and facemasks."

https://www.cato.org/blog/fda-bureaucracy-grows-79-2007
---------------
The more the bureaucracy grows, the more problems they can block you from solving.

ccp

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We have a Democrat political control in NJ
« Reply #1155 on: April 30, 2020, 05:32:39 AM »

ccp

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give away insanity continues
« Reply #1156 on: May 06, 2020, 03:58:09 PM »
https://www.yahoo.com/finance/news/new-bill-would-give-essential-workers-25-k-for-tuition-student-loans-175100129.html

pols falling all over themselves to dream up ways to get voters to vote for them
with other people's money

if  you work at a grocery store here is 25K for a few months trouble
just no end to this.

just wait till a dem win power
taxes will go up thru the roof


Crafty_Dog

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Wesbury: How are we going to pay for all this?
« Reply #1157 on: May 18, 2020, 11:35:02 AM »
How Are We Going To Pay For All This? To view this article, Click Here
Brian S. Wesbury, Chief Economist
Robert Stein, Deputy Chief Economist
Date: 5/18/2020

The largest federal budget deficit since World War II came back in 2009, as slower growth and increased government spending during the subprime-mortgage financial panic pushed the deficit to 9.8% of GDP. This year's the budget deficit will, quite simply, blow that record out of the water.

The Congressional Budget Office recently totaled up all the legislative measures taken so far - as well as the effects of a weaker economy (payments for unemployment benefits would be going up even with the recent law) - and they estimated this year's budget deficit at $3.7 trillion, which they forecast would represent about 18% of GDP.

As if that weren't enough, the House of Representatives just passed a bill that would add another $3 trillion to the debt. Although a detailed year-by-year cost estimate isn't yet available on the spending provisions, and the bill is dead-on-arrival in the Senate, which isn't going to rubber stamp that proposal, it's likely Congress and President Trump will end up compromising on some sort of additional measures that drive the deficit even higher. As a result, we're guessing the budget gap for the current fiscal year ends up closer to $4 trillion, or about 20% of GDP, the highest since 1943-45.

Given the economic crater generated by the Coronavirus and related shutdowns, as well as the heavy-handed legislative response, budget deficits will be enormous in the years ahead, too.

In spite of these sky-high numbers, it's important to recognize that the US government is not about to go bankrupt. The debt, while large (and growing), remains manageable. Before the present crisis, the average interest rate on all outstanding Treasury debt, including the securities issued multiple decades ago, was 2.4%. Now, our calculations suggest newly issued debt is going for about 0.25%, on average, which applies to both the recent increase in debt as well as portions of pre-existing debt coming due and getting rolled over at lower interest rates.

When debt that costs 2.4% gets rolled over at around 0.25%, that's a great deal for future US taxpayers. The problem is, the Treasury Department has been decidedly stubborn about not issuing longer-dated securities – think 50 and 100-year bonds – that would allow taxpayers to lock-in these low interest rates for longer, making it easier to spread out the cost of the extra debt incurred throughout the crisis.

As a result, if (or more like when) interest rates go back up, the interest burden generated by the national debt could go up substantially.

The best move the Treasury Department could make would be to use the recent surge in debt to overhaul the kinds of securities it issues. One idea that deserves exploring is replacing all securities with a maturity of over, say, 2 years, with "perpetual" or "interest-only debt." No principal would ever have to be paid on these instruments; they'd just pay the same nominal amount of interest twice per year. If we want to mix it up a bit, some debt could pay interest with gradual adjustments for inflation, just like TIPS.

This is not a new idea. The British issued perpetual bonds starting in the 1750s, and the last ones were retired in 2015. And although they're called "perpetual" bonds, and they're not callable, the Treasury Department could always buy them back at market prices to retire them.

Liquidity should not be an issue. Every time the government needs to issue longer-dated securities, it could simply re-open that very same security. Then the private sector could slice and dice them, on demand. If someone needs a 10-year zero-coupon Treasury note, just take the interest payment due in ten years and package that into a stand-alone security. Want something like a traditional 30-year? An investment firm can package a stream of interest payments over the next 30 years and tie it to a big package of payments due in exactly thirty years.

But it's not only the debt generated by recent fiscal measures that will burden future generations. Overly generous unemployment benefits are disincentivizing many unemployed workers from re-joining the labor force, which slows the process of accumulating skills. Widespread government-mandated closures also hinder skill-formation, as well as risk destroying some (or all) of the know-how embedded in business's operations.

Yes, the debt is a burden on future taxpayers. In this way, the fiscal response magnifies the effects of other responses to the Coronavirus. So far, the age of the typical person who has died with the virus has been about 80 years old. Right or wrong, our government - and society in general - has taken enormous measures to contain the virus to save the lives of our elderly population, and these moves have imposed enormous costs disproportionately borne by the younger generations who are out of jobs, school, and business opportunities. The very same group who will be paying the costs well into the future.

DougMacG

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Re: government spending, debt, deficit
« Reply #1158 on: June 23, 2020, 07:15:29 AM »
50% of total GDPhttps://townhall.com/columnists/stephenmoore/2020/06/23/stop-the-madness-of-congressional-spending-n2571099
Dems : let the rich pay.
Trump : gotta get re elected
Republicans :  not cool , but what we gonna do about it?

Vote Republican and you risk having them govern like Democrats.  Vote Democrat and face the certainty of moving the country toward a Chavez, Maduro, CHAZ/CHOP, democratic violent socialism model.  This is not an imaginary scare tactic of politics anymore. 

The Left model has become anarchy combined with redistribution extortion "reparations" in place of level playing field governing.

We just just saw an already out of control spending and deficit problem explode with private shutdowns and public payments making up roughly none of the shortfall.  The only chance of surviving this is 100% commitment back to free enterprise and economic growth for a very long and sustained period.

ccp

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1159 on: July 07, 2020, 04:14:11 PM »
you mean zero democrat affiliated entities got any bailout /loan money? none

if you read this article one would think this.

that said who could in any ones mind have seen this (sarcasm out loud):

https://news.yahoo.com/fresh-outrage-well-connected-firms-nab-us-loans-153140732.html

we are so screwed
the list keeps piling up.


DougMacG

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Re: Government programs & regulations, spending, deficit, budget: Thomas Sowell
« Reply #1160 on: August 24, 2020, 06:33:16 AM »
Thomas Sowell
@ThomasSowell
·
Aug 21  2020
If politicians stopped meddling with things they don't understand, there would be a more drastic reduction in the size of government than anyone in either party advocates.

DougMacG

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Government programs, U.S. Postal Service
« Reply #1161 on: August 24, 2020, 06:58:47 AM »

Crafty_Dog

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1162 on: August 24, 2020, 04:00:34 PM »
Good find.

DougMacG

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US budget deficit hits record $3 trillion
« Reply #1163 on: September 09, 2020, 01:48:49 PM »
"US budget deficit hits record $3 trillion."
https://www.cbo.gov/system/files/2020-09/56552-MBR.pdf

Speaking to every voter, candidate and office holder...
                               WHAT'S THE MATTER WITH YOU PEOPLE!!??
Why do you pretend to take economics and policy making seriously - and then do THIS?

We spend more when we take in less.  And we spend more yet when the economy is good.  I can't even joke, what could go wrong?! 

Default on our debt?  Default to whom??  Then what?

They used to say in Venezuela 20 years ago, wealthiest nation in Latin America, "it can't happen here". 

Yes it can.

ccp

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1164 on: September 09, 2020, 02:59:42 PM »
Doug,

don't worry be happy

the rich will pay for all this................. :-P

ccp

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Trump 500 billion plan for minorities business and jobs
« Reply #1165 on: September 25, 2020, 03:23:09 PM »
I still don't understand why the special treatment is needed
and the endless spending

but I suppose if this can peel off 5 % of minority vote away from the communists then I guess I am for it all things considered:

https://www.conservativereview.com/trump-proposes-500-billion-plan-for-black-americans-promises-to-create-3-million-jobs-and-designate-the-kkk-and-antifa-as-terrorist-organizations-2647828428.html

ppulatie

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1166 on: September 25, 2020, 04:38:35 PM »
The 4th Turning has as one feature a Total Debt Reset. Whether by Default or some other reason.  This time, it will be much more severe than ever before. But that is the nature of a 4th Turning.

Personally, after talking with people who worked in the FDIC many years ago, the Debt Reset one the dollar is likely to be "changing the color of the ink."  Blueback instead of Greenback. But with everything else going on over the next decade, it will be just one more "crisis" thrown into the bucket.
PPulatie

ccp

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Art of the deal
« Reply #1167 on: October 20, 2020, 02:57:27 PM »
Pelosi is literally kicking DJTs ass

Repubs started at 500 bill to 1 trill
and Pelosi demanding 2.2 trillion (don't worry on the rich will pay)

DJT. is now up to 1.8 trillion

and caving all the way

wants to have checks go out with his signature on it.

I am not impressed

DougMacG

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Re: Art of the deal
« Reply #1168 on: October 21, 2020, 06:17:29 AM »
Pelosi is literally kicking DJTs ass

Repubs started at 500 bill to 1 trill
and Pelosi demanding 2.2 trillion (don't worry on the rich will pay)

DJT. is now up to 1.8 trillion

and caving all the way

wants to have checks go out with his signature on it.

I am not impressed

The 'stimulus' is about politics, not economics.   I think Trump is playing art of the deal here.  While they try to cut their ad with the clarity that they want to send you free money and he doesn't, he circles them saying he wants larger checks than they do.  Meanwhile it costs nothing because they are still hung up on funding their pet projects agenda. So off it goes to the voters while the urgency is dissipates.

ccp

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1169 on: October 21, 2020, 06:35:18 AM »
"pet projects agenda."

I have read this too

but no details explaining what these are

found

ccp

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exactly what I can't stand about big government
« Reply #1170 on: November 18, 2020, 04:01:16 PM »
choose a group
to regulate
for a giant bureaucracy

to regulate them
and m*make* them pay for it:

https://pjmedia.com/news-and-politics/rick-moran/2020/11/18/report-bidens-gun-tax-plan-would-cost-gun-owners-34-billion-n1156441

damn liberal politicians and bureaucrats and smug academics who dream this stuff up.

ccp

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Crafty_Dog

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G M

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DougMacG

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Re: Our brilliant government at work!
« Reply #1176 on: December 29, 2020, 05:53:50 PM »
https://gab.com/system/media_attachments/files/061/064/380/original/c4fb058243fde11c.png



Un-bleeping believable.

Does anyone remember the Sen Proxmire Golden Fleece awards?  That was a Democrat (D-WI) who cared ewnough about wasteful spending to highlight the most egregious examples.

https://hill.house.gov/news/email/show.aspx?ID=2ILP7W3NXUU5E#:~:text=For%20those%20who%20don't,uses%20of%20hardworking%20taxpayers'%20dollars.

ccp

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DougMacG

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Re: Bernie Sanders : myth he is for little people and against the big corporations
« Reply #1178 on: December 30, 2020, 06:41:12 AM »
unless these big corporations  help democrats:

https://www.yahoo.com/entertainment/bernie-sanders-mcconnells-additions-covid-relief-bill-deal-breaker-070914715.html


Good catch ccp.  How about that.  Bernie the populist purist  supports special breaks for giant corporations who provide the financial support his political causes.  Just like he accuses his opponents.  What filth! 

We can give legal protection to google, facebook, twitter, to propagate the Leftist messaging (but we can't give legal protection to nuclear power to provide safe, carbon free energy to save the planet).

https://www.cnbc.com/2020/10/27/twitter-google-facebook-ceos-prepared-statements-defend-section-230.html
Facebook, Google, Twitter CEOs to tell senators changing liability law will destroy how we communicate online.

Umm, they are the ones destroying how we communicate online.

DougMacG

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Re: Government programs & regulations
« Reply #1179 on: December 31, 2020, 02:36:43 PM »
Companies step up to make sanitizer for the republic.  Now the government imposes tens of thousands of 'fees' on them.

https://reason.com/2020/12/30/when-there-wasnt-enough-hand-sanitizer-distilleries-stepped-up-now-theyre-facing-14060-fda-fees/

You can't make this stuff up.

If you don't distrust and hate the government, perhaps you aren't paying attention.


ccp

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andrew yang and NYC - perfect together
« Reply #1181 on: January 15, 2021, 09:58:43 AM »
It truly is remarkable
the courage these brave righteous politicians have in confiscation money from some to distribute to others of their choice

I wonder if all the drunks schizoids drug addicts who do not look for a job let alone keep one

will have the cognitive ability to show up to the Andrew Yang distributions centers to pick up their checks

they won't need IDs
only need be willing to sign voting election ballots for the '22.

ccp

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unemployment fraud
« Reply #1182 on: January 19, 2021, 05:12:19 AM »
In Maryland 95% of claims investigated as potentially fraudulent (though does not say how many were actually fraudulent)

https://populist.press/prisoner-scammers-and-rapper-nuke-bizzle-7-crazy-examples-of-covid-unemployment-fraud/

DougMacG

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Democrats Support $4 Trillion Deficit
« Reply #1183 on: February 02, 2021, 06:39:49 PM »
Democrats Support $4 Trillion Deficit
https://mailchi.mp/2ab53dbdfae4/unleash-prosperity-hotline-859834?e=17d44a0477

Unleash Prosperity Hotline
2/2/2021
House Democrats Endorse a $4 Trillion Deficit

The House Democratic budget resolution which sets the legal parameters for how much money Pelosi and Schumer can spend this year calls for a $6,100,000,000,000 budget. The deficit would be just shy of $4 trillion

ccp

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Romney not conservative
« Reply #1184 on: February 04, 2021, 10:16:12 AM »
Can Utah throw this guy into the garbage heap already?

of course, he was governor of Mass.
to think I voted for this guy!

https://www.yahoo.com/huffpost/mitt-romney-child-allowance-150107102.html

I have no children
why do I need to support other peoples kids?

what about those with grown children
what about those who don't qualify for hand outs?

this will only increase the flood of illegals





ccp

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Joe Manchin comes through
« Reply #1185 on: February 05, 2021, 06:46:09 AM »
for Dems
https://www.yahoo.com/news/u-senate-passes-budget-plan-110133801.html

presumably Koomala has shit eating grin on her face during the vote

unity
compromise
work across the aisle
we are all Americans
no red blue just states


DougMacG

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1.9 Trillion stimulus, 330 million people: Did everyone receive 6 Grand?
« Reply #1186 on: February 08, 2021, 07:56:50 AM »
They think we can't do math - and they are mostly right.

$1.9 trillion stimulus in a country of 330 million is $5700 cash for every man, woman and child.

$22,800 for a family of four.

Did you get yours?  Where did the rest go??

DougMacG

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ccp

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1188 on: February 16, 2021, 07:16:04 AM »
"$1.9 trillion stimulus in a country of 330 million is $5700 cash for every man, woman and child.

$22,800 for a family of four.

Did you get yours?  Where did the rest go??"

no , and I never will,  just more forced confiscation
NJ state income tax up again as of Jan 1
thanks to our second GoldMAN Sachs governor ( as if one was not enough) who knows what is best for the little people

I don't remember where I saw the numbers but recently it was posted the national debt would cost every American (not sure if the 20 million illegals included). $88,000

and if we just include only those who pay taxes we are talking somewhere in range of 250,000

but the new economic theory is - debt is meaningless

World had plenty of cash nothing to see here ignore
just in time for Biden and the Obama communists to spend us into the Mariana trench

G M

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1189 on: February 16, 2021, 07:30:01 AM »
Cloward-Piven/Great reset



"$1.9 trillion stimulus in a country of 330 million is $5700 cash for every man, woman and child.

$22,800 for a family of four.

Did you get yours?  Where did the rest go??"

no , and I never will,  just more forced confiscation
NJ state income tax up again as of Jan 1
thanks to our second GoldMAN Sachs governor ( as if one was not enough) who knows what is best for the little people

I don't remember where I saw the numbers but recently it was posted the national debt would cost every American (not sure if the 20 million illegals included). $88,000

and if we just include only those who pay taxes we are talking somewhere in range of 250,000

but the new economic theory is - debt is meaningless

World had plenty of cash nothing to see here ignore
just in time for Biden and the Obama communists to spend us into the Mariana trench

ccp

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Crafty_Dog

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Grannis
« Reply #1191 on: February 22, 2021, 07:48:38 PM »

I’m as anti government spending as any one. But to be fair, the interest burden of federal debt is very low by historical standards. Less than 3% of GDP. It’s been much higher before. The government is actually doing exactly what a savvy investor should do when his borrowing cost is negative in real terms. The people who will be screwed the most are the buyers of the debt.

-Scott Grannis

ccp

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1192 on: February 23, 2021, 07:14:27 AM »
3% !????

what

where does he come up with that
no where else I read gives such a low number

https://www.usdebtclock.org/

Crafty_Dog

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Re: Government programs & regulations, spending, deficit, and budget process
« Reply #1193 on: February 23, 2021, 07:16:23 AM »
He is referring to the interest payments on the debt as a % of GDP.

ccp

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Well it is higher % of the Federal Budget
« Reply #1194 on: February 23, 2021, 07:28:55 AM »
Why do we use the GDP as the denominator?

I get if  we get growth in GDP tax revenues goes up

so does Scott agree with MMT theory -I guess he does
 

https://www.thebalance.com/interest-on-the-national-debt-4119024


furthermore when Paul Krugman says the world is "awash in money " so no need to be concerned

it is almost like he is saying the global economy should be in the denominator. 
« Last Edit: February 23, 2021, 07:39:55 AM by ccp »

ccp

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votes on relief bill
« Reply #1195 on: February 27, 2021, 07:51:57 AM »
I keep doing google searches and cannot find the actual vote counts
to post here
but yesterday on CSPAN was listed the number of Repubs who voted against and i think it was 192
none voted yes but something like 19 or 20 did NOT vote one way or the other or abstain

cowards I guess

it was roughly the opposite for Dems
bill passed 219 to 212

in other words the Republicans could have voted this down along with ~ enough Democrats who also did not vote yes or no

I don't know why this is NOT in the news

Why could not Kevin McCarthy get 100% republicans vote NO?

something about they were afraid to lest the districts they come from will hold such a vote against them
I think he failed





ccp

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