ChrisWeigant.com

Archive of Articles in the "Economics" Category

Big Lie Pricetag Nearing $1 Billion

[ Posted Wednesday, March 27th, 2024 – 15:51 UTC ]

The pricetag of spreading Donald Trump's "Big Lie" -- that there were various forms of massive fraud committed in the 2020 presidential election -- is about to grow, once again. At this point it is impossible to predict exactly what the next legal cost will be, but it could easily send the total amount the Big Lie perpetrators have paid (or have been ordered to pay) north of one billion dollars. And this could still be just the beginning -- by the time the counting is fully done, this could jump to multiple billions in legal damages assessed against various bad actors.

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Friday Talking Points -- M.T.G. Threatens An M.T.V.

[ Posted Friday, March 22nd, 2024 – 18:18 UTC ]

For once, big things are actually happening in Congress. No, really!

As we write this, the House has passed the final budget bill for this fiscal year (by a vote of 286-134) and sent it over to the Senate. The Senate may pass it tonight, if senators like Rand Paul can restrain their natural urge to be total [insert favorite plural derogatory expletive here]. If they do throw a monkey wrench into the works, we could have a very short-lived partial government shutdown, but if it gets resolved before the weekend is over then it won't do much damage at all. Either way, the bill's got the votes to pass the Senate, so it's now only a matter of time until President Joe Biden can sign it and the budget that was supposed to be in place on the first of October last year will finally be finished.

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Slouching Towards A Budget

[ Posted Thursday, March 21st, 2024 – 16:20 UTC ]

Congress is -- finally -- about to finish the most basic of their constitutional duties: funding the federal government by passing a budget for the current fiscal year. This comes almost six months from when they were supposed to have achieved this feat (the federal fiscal year starts at the beginning of October). And what is happening on Capitol Hill right now should be familiar to anyone who knows how the process has worked in recent years -- a huge bill that wraps multiple individual spending bills together is released at the last possible minute, with no time for any floor debate or even for many people to dig through the enormous length of the bill, and with a deadline in sight tomorrow night at midnight that may or may not be met (although any partial government shutdown will likely be brief and happen over the weekend when its impacts would be minimal, at least). This is all pretty much par for the budgetary course, these days. Six months late is an outlier -- usually the budget is wrapped up (at the latest) by December or January -- but budgets nowadays are never passed on time.

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Time For Trump To Pay For His Lies

[ Posted Tuesday, March 19th, 2024 – 16:03 UTC ]

Donald Trump is finally having to face some consequences for his past misdeeds. He has already had to put up two bonds to cover the judgments in the two defamation cases E. Jean Carroll won against him (to the tune of almost $100 million, combined, with interest), and he is now on the hook for the enormous judgment against him in the civil fraud trial he also lost. His lawyers are complaining that he doesn't have the money to pay the penalty (almost a half-billion dollars, with interest) and that he has been unsuccessful in obtaining a bond to cover the amount. If Trump doesn't post a bond or put up the money by early next week, the state of New York could start seizing his properties and liquidating them.

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Wildly Unprofessional? Really?

[ Posted Monday, March 18th, 2024 – 16:59 UTC ]

But instead I am going to write a different very lazy column on a subject that has always peeved me no end: the insanely-generous vacation schedules for members of Congress. Here is the quote that set me off today, from a blurb of an article about the ongoing discussions in Congress to prevent a government shutdown this Friday night:

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Friday Talking Points -- R.N.C. Purge

[ Posted Friday, March 15th, 2024 – 17:29 UTC ]

This week President Joe Biden and Donald Trump both secured their respective parties' 2024 presidential nominations. Most Americans, if the pollsters can be believed (and they do all seem to be telling the same story), are not exactly thrilled with this rematch and would have preferred different choices. But we are where we are, so that's not going to happen for another four years.

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Biden Releases Budget Wish List

[ Posted Monday, March 11th, 2024 – 15:23 UTC ]

President Joe Biden's White House released their budget proposal document today, which only serves as a nagging reminder that Congress still hasn't finished last year's budget process and still needs to pass roughly 70 percent of the current year's budget -- a task they were supposed to accomplish last September. They've let it slip so long that the process is now lapping itself, in other words. Biden's new proposal is for the budget that is theoretically supposed to be in place by this October (but will almost certainly be delayed at least until after the election).

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Biden Knocks It Out Of The Park

[ Posted Friday, March 8th, 2024 – 17:48 UTC ]

President Joe Biden gave his third "State Of The Union" speech last night to a joint session of Congress, and he more than exceeded expectations, in multiple ways. Ol' Joe had a very good night, to put it another way.

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Watching For Style Over Substance

[ Posted Thursday, March 7th, 2024 – 16:10 UTC ]

As he delivers his "State Of The Union" speech tonight, President Joe Biden is going to be judged a whole lot more on the style of his delivery than on the substance of what he says. That's what the pundits are going to be looking for and it'll likely be the storyline afterwards. The average citizen watching is probably going to be more interested in both what is said and how it is said, but the "how" part of that is going to get a lot more headlines the next day. This could either turn into an opportunity for Biden or it could be a giant risk, but it will be at the center of the coverage, that much seems certain.

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Snoozer Tuesday

[ Posted Tuesday, March 5th, 2024 – 15:55 UTC ]

I sit writing this while proudly wearing my "I Voted!" sticker, after doing my civic duty by participating in my state's primary election. Today is the traditional day marking the end of the "early-voting" phase, when the primary season is flung wide open to any state willing to move to the front of the line. California did so a while back, joining over a dozen other "Super Tuesday" states. But while I am more immersed in the political world than most, I find it hard to get even a little excited today. After all, everybody knows what's going to happen and both horseraces were really over before they even began.

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