The Republicans didn’t make even the tiniest dent in out-of-control spending. From David Stockman at lewrockwell.com:
It might be all over except the shouting. We are talking about the last chance to meaningfully curtail the nation’s headlong plunge into fiscal disaster. Since the Dems are hideously obtuse and feckless on the fiscal front, the only remaining hope was that the GOP would finally screw-up the courage to take sweeping bites out of Federal spending and borrowing in the process of enacting the Donald’s “one big beautiful” reconciliation bill.
But it’s now clear that won’t happen, either. Not even remotely.
That’s because over the weekend the House GOP even threw in the towel on serious Medicaid cuts. Yet Medicaid was the site of the last entitlement stand, so to speak, given that Social Security, Veterans and Medicare had already been given a hall pass by the Donald and the GOP congressional leadership.
So now a real red line has been crossed. That is to say, if the GOP is unwilling to rollback Medicaid to even its 2008 pre-ObamaCare level, then the white flag of fiscal surrender might as well be hoisted.
Indeed, the fiscal math is definitive. When you add defense and net interest to the entitlements exempted from the budgetary knife by the Trumpified GOP the result is that nearly three-fourths of the Federal budget has been ring-fenced as “sacred cows”.
