“This package demonstrates that we can govern without surrendering to big spending or letting Democrats dictate priorities,” wrote the House Freedom Caucus in some talking points released to the media.
“We successfully stiff-armed a massive omnibus spending bill; locked in disciplined, flat spending levels; preserved President Trump’s policy priorities… and kept our leverage for the next round in January.”
People can say whatever they want, but I’m pretty sure our politicians closed the US government for a record 42 days and changed absolutely nothing. That’s quite an accomplishment. Sublime ineptitude. Congressional approval ratings supposedly declined 11pts to 15% during the period. Remarkable.
If a trader knew that 85% of his decisions were losers, he’d become the richest man on earth by simply doing the exact opposite of his instinct. I’m guessing Pelosi made good money trading the chop, but the broad equity market ended the shutdown period roughly a percent higher than where it started.
Extrapolating the recent pace of deficit spending, the Federal government accumulated another $600bln of debt during the shutdown, adding more leverage to the system, sustaining the economy, supporting asset values.
Hellbound and Down 