This may be more obvious than I think, but this week's votes on a continuing
resolution to keep the government going past Friday's debt ceiling deadline
until September are a kind of confession of failure on the part of House
Republicans, and Speaker Mike Johnson in particular, retreating from the
effort to use reconciliation rules to put through the huge package of tax cuts
and spending cuts they passed on February 25 for fiscal year 2025. Never mind,
said Johnson: Elon and Donald can do it, or something like it.
But Johnson said those cuts would be reserved for legislation to fund the
government in fiscal year 2026, which begins on October 1.
"We will actually be able to change the way this is done and incorporate
all the extraordinary savings that DOGE is uncovering through fraud, waste
and abuse, the other revenues that President Trump is bringing about
because of his policies," Johnson told the Fox News program "Sunday
Morning Futures."
Although as you know DOGE hasn't uncovered any fraud, waste, or abuse at all
that they're able to publicly identify, and their own estimate of how much
money they've managed to save so far—$105 billion—would be pretty pathetic as
an attack on a $2 trillion deficit, if it were accurate, which it
clearly isn't
anywhere near. While the revenue that President Trump is "bringing about
because of his policies" means tariffs, and it's pretty hard to estimate, what
with Trump changing his mind up to three or four times in a given day (just announced
he's doubling the tariffs on steel and aluminum he's landing on Canada on
Wednesday, from 25% to 50%), but the
best guesses
seem to make it around $120 billion a year, which also isn't much, though the
rise in consumer prices it will bring on, focused on the areas of electronics
and clothing, motor vehicles and food, will cost us around $1600-$2000 a year
per household. Not only a tax on Americans, whatever Trump may imagine, but a
very regressive tax, mostly felt by those with lower incomes (the lower your
income, the higher the proportion of it that you end up spending on stuff like
food and clothing, or really anything).