The Budget Deficit And The National Debt
- Lucian@going2paris.net
- Aug 26, 2020
- 1 min read
August 26, 2020
Where is the Tea Party?
No one is watching the bank.
The chart above tracks U.S. debt milestones from 1989 to 2020. It has increased by more than 800% during that time. In June 2020, the national debt was about $26 trillion. This figure includes both debt held by the public as well as intra-governmental debt.
I seem to remember the Tea Party was killed by both political parties. It was a grass roots movement that backed Republicans and allowed the GOP to capture the House in 2010. Anger at taxes and Obamacare drove the movement. Once the GOP had the House, the new Speaker John Boehner totally ignored the Tea Party. In the 2014 election Mitt Romney very publicly distanced himself from the Tea Party. Of course the Democrats wanted nothing to do with it either.
The other thing that killed it was lack of strong central organization. It splintered into several different "Tea Party" organizations who would not coordinate activity or platform. As a result of disunity, its power was diminished. Some extreme ri…