Swamp Notes Do Republicans still care about debt?
8 snips
May 31, 2025 
James Politi, the Washington bureau chief for the Financial Times, and Edward Luce, U.S. national editor and columnist for the same publication, dive into the Republican Party’s evolving stance on fiscal responsibility. They discuss the contradictions in the party’s big spending and tax cuts, questioning the authenticity of their commitment to reducing national debt. The conversation also touches on the ideological rifts within the GOP and reflects on broader economic implications, giving listeners a fascinating look at current political dynamics.
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GOP Bill Increases Debt
- The GOP bill increases U.S. debt by trillions despite promises of fiscal conservatism.
- Tax cuts in the bill outweigh spending cuts, leading to net debt increase.
Rising Debt Risks and Costs
- Debt exceeding 100% of GDP starts to worry markets; U.S. is at 123% and rising.
- Higher debt raises borrowing costs and interest payments, crowding out future spending.
Republican Factions on Debt
- Republican Party is split between hardline conservatives calling for deep cuts and moderates seeking smaller spending cuts and tax relief.
- This split stems from differing district priorities and re-election pressures.