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Former Congressman David Stockman also headed Reagan's Office of Management and Budget. Not of the Reagan White House Office, but the Office of the entire United States. Here's what he said about the failed budget negotiations:
"Fiscal governance in Washington is totally kaput. They never pass an annual budget resolution and enforcement plan, which was taken as a sacred duty back in the day; and there are never even annual appropriations bills for the mere 25% of the budget still subject to the Congressional “power of the purse”.
Instead, what occurs is a perennial string of short-term Continuing Resolutions (CRs) followed by an 11th hour, 3000 page pork-ridden “Omnibus Appropriations” bill that no one has read and which gives log-rolling (i.e. more domestic for more defense) a new definition.
In short, the debt ceiling was the only fiscal control mechanism left. And even that has been neutered time after time in the last decade by the hideous, flat-out lie that if the Treasury on any given day is one dollar short of being able to cover all of its due bills it must default on each and every one of them including interest payments, thereby destroying the credit of the United States. Yada, yada.
Finally, that lie was being put to the test and would have been eviscerated sometime next week. Yet after a lifetime on the public teat, Kevin McCarthy like his two GOP predecessors surrendered to the Doomsday Machine because he works for the GOP wing of the Swamp, not the voters, current and future.
And he did so while expectorating the most risible of lies: Republicans are changing the culture and trajectory of Washington—and we’re just getting started.
Not close. Not in the ballpark or even the catcher’s box behind home plate.
The deal does absolutely nothing to change the current “trajectory” toward fiscal disaster because it reduces nary a dime of built-in spending for defense, entitlements/mandatories, veterans and net interest, while those items account for 89% of the $80 trillion of built-in spending over the next decade."
Greece’s Minister of Migration and Asylum, Thanos Plevris, has announced a new legislative framework targeting the operation of illegal places of worship, emphasizing that non-compliance will lead to the immediate revocation of residency permits. In Agios Nikolaos, a Mosque was sealed and the alleged imam had his residency permit revoked and faces deportation.
“Come to me, all you who labor and are heavily burdened, and I will give you rest. Take my yoke upon you and learn from me, for I am gentle and humble in heart; and you will find rest for your souls. For my yoke is easy, and my burden is light.”
—Matthew 11:28-30
That's China's vision, objective and immediate goal. They have the leverage to make it happen.
Summary of Xi's January 2026 announcement:
"It's a sweeping vision for building a global financial power organized around socialist principles, without the greed and without a financialization of the economy (what Xi calls 脱实向虚, “drifting from the real economy into the virtual”).
-- Arnaud Bertrand
