I remain mesmerized by the prospect of chaos in the House of Representatives next Tuesday when the new Congress meets, is sworn in, and attempts to choose a Speaker. There will be 434 representatives (the fourth Virginia district is vacant because of the death of the recently reelected Democrat and will be filled on February 21 in the special election that will almost certainly be won by the Democrats.)
What will happen next Tuesday? There are two possibilities:
the first is that between now and then Kevin McCarthy manages to find something
he has not already given to the crazies in his party that will win one or more
of the five holdouts to his side. The prospect of that happening is, so far as
I can tell, rather dim. The second possibility is that McCarthy, Hakim
Jeffries, and Andy Biggs be nominated. Jeffries will get 212 votes, Biggs will
get five votes or possibly more, and McCarthy will fall short of the 218 he
needs. At that point, another vote will be held (apparently almost
immediately.)
There then seem to be three possibilities: McCarthy will succeed
in bribing one of the five holdouts – perhaps by reinstating the old rule that
a single member of the House can at any time call for a vote on vacating the
chair. The second possibility is that everybody will vote the same in the
second round as in the first. The third possibility, if one is to believe the
rumors, is that someone will nominate Steve Scalise. At that point, I imagine,
Biggs will withdraw and a vote will be held. Jeffries will still get 212 votes,
Scalise will get some number – 50, 75, 100, who knows – and McCarthy will get
the rest. No one will have 218 and yet another vote be called.
I do not think McCarthy is going to bow out and support
Scalise. What is more, my guess is that McCarthy has at least four loyalists
plus himself who will block Scalise from getting the required 218. At this point,
all bets are off. The Democrats are sitting there with an enormous block of 212
votes, and very quietly, guided by the wisdom and experience of Nancy Pelosi,
Jeffries will be meditating about whether there is some move the Democrats can
make.
There are 19 Republicans who won their seats in districts that
Biden carried in the presidential election. They are not likely to want a total crazy as Speaker. Furthermore, we must remember that
the Speaker does not have to be a member of the House. I simply have no idea
how this is going to play out, but remember, until a Speaker is chosen,
committee chairs cannot be appointed and so Jim Jordan cannot launch his 24
hour a day investigation of Hunter Biden.
My plans for January 3 include a supply of candied popcorn
and a soft cushion.
The (rather stupid) Fed actions have likely guaranteed a recession next year. If the Dems play it right a dysfunctional clown show in the House will lead to good things in 2024.
ReplyDelete"I remain mesmerized...."
ReplyDeleteInteresting self-understanding in light of the last post.
Given the Fed's "dual mandate," it's not clear to me that it could have done anything other than what it's been doing. Recessions impose harms (varying w degree of severity) but so does uncontrolled inflation.
ReplyDelete"...so does uncontrolled inflation."
ReplyDeleteWhat "uncontrolled inflation." The problems associated with covid and the war in Ukraine won't be solved by creating a recession in the US. Inflation seems to be moderating while, given the lead time, the Feds rate increases have yet to take effect. The FOMC needs to pause and re-evaluate.
Prior to covid and the war hen scratch was under $10/bag and high quality layer feed was mid teens. Scratch has doubled or more and layer feed has nearly doubled. Couple that with this being a bad year for bird flu and it's no wonder eggs and chicken are way up. Causing a recession won't solve those problems. Meanwhile fuel is way down from recent highs and adjusted for inflation comparable to prices a decade or so ago.
Meanwhile Trump's tax returns just dropped, it's snowing in the Sierra, and our reservoir (two years supply) is at 107% in December.
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ReplyDelete