Palmetto Political Stock Index – 3/26/2024

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Uni-party insanity in Washington, D.C. is nothing new. At this stage in the evolution of our foundering experiment in representative democracy, we’ve come to accept escalating craziness as par for the proverbial course.

But just because we’ve become desensitized to the prevailing nuttiness in our nation’s capital doesn’t mean it isn’t adversely impacting our lives. Far from it. If anything, the ill effects of our leaders’ braindead decision-making are compounding … exacerbating the problems we are going to face as a nation in the years to come.

On this week’s index, we see America’s ‘Manifest Insanity’ continue to manifest itself on multiple fronts …

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Over the past year, our founding editor Will Folks and political columnist Mark Powell have been monitoring political developments in America via our Palmetto Political Stock Index. As previously noted, each installment is an assessment of how our subjects fared over the previous week. Positive reports don’t reflect endorsements, and negative ones aren’t (necessarily) indicative of vendettas. We just call ‘em like we see ‘em.

To view the most recent index, click here. And to get your historical fix, click here.

Also, be on the lookout in the coming weeks as we narrow our gaze more intently on specific races in the Palmetto State, which is about to launch into its partisan primary season.

Got a hot “stock tip” for our consideration? Email Will (here) and/ or Mark (here). Just make sure to include “Palmetto Political Stock Index” in the subject line.

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SPENDING SANITY

STOCK: FALLING

Rest easy. America. The far left’s beloved federal government isn’t in danger of experiencing another sham shutdown … at least not for the time being. In the wee hours Saturday morning, the U.S. Senate approved a $1.2 trillion spending orgy that keeps the “Open for Business” sign hanging above Uncle Sam’s shop window. President Joe Biden signed the legislation a few hours later.  

We’re talking “trillion” here, folks. $1,200,000,000,000. That’s twelve zeroes for those who are mathematically challenged. What goodies are tucked inside this 1,012-page fiscal nightmare? Besides bankrolling the departments of Defense, State, Homeland Security, Labor, Health and Human Services (oh, and don’t forget Congress, too), there’s plenty of pork to go around. It’s crammed full of so many earmarks it could rightfully be mistaken for an old-fashioned Christmas catalog.

The U.S. debt stood at roughly $34.6 trillion prior to this $1.2 trillion addition to the kitty. And so the timebomb that could ultimately trigger an economic Armageddon ticks a little louder and a little faster today than it did last week.

For those who are disappointed this fiscal farce is over, take heart: The country’s authorization to spend money expires at midnight on September 30, 2024. Meaning unless a 2024-25 federal budget is passed and signed before then, Congress will be reprising this tired old melodrama six months from now.

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MIKE JOHNSON

STOCK: FALLING

Here we go again. Right-leaning Republicans are furious at U.S. House speaker Mike Johnson. They view his working with Democrats to pass the aforementioned $1.2 trillion abomination as an unforgivable sin, a betrayal of the cornerstone of conservative principles. They also argue it reinforces what they’ve been saying for months – that a uni-party actually controls Washington.

So, barely five months after assuming the speaker’s gavel, their frustration with him boiled to the surface Friday when Georgia representative Marjorie Taylor Greene filed a motion to give Johnson the boot. That sets the stage for an ouster vote – and potentially a reprise of the painfully slow pick of a successor to former speaker Kevin McCarthy.

One thing the move didn’t contain was a timeline for calling the motion to a vote.

“I’m not saying that it won’t happen in two weeks, or it won’t happen in a month, or who knows when,” Greene told reporters. “But I am saying the clock has started.”

She said Johnson should view it as “more of a warning and pink slip” and then added, “It’s time for our conference to choose a new speaker.”

The big question is what the other half of the uni-party conference, the Democratic one, would do if a vote was called. Democrats sat back last fall and watched House Republicans self-immolate without lifting a finger to save McCarthy. Now that Johnson has delivered the $1.2 trillion spending package they wanted, would it be a different story this time around?

So Johnson returns to work this week with the Sword of Damocles hanging over his head – and no way of knowing when, or even if, it could fall.

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JOE BIDEN

STOCK: RISING

U.S. president Joe Biden has 21 million reasons to smile right now. His reelection campaign and the Democratic National Committee are raking in big bucks these days. Just how big?

Biden’s campaign reported hauling in $21 million in February, with an even more impressive $71 million cash on hand. Times are equally good over at the DNC. When its money is factored in, Politico reports Biden has an impressive $97.5 million to play with. And it’s not even April yet.

Compare that to the combined $44.8 million Donald Trump and the Republican National Committee have at their disposal.

California political legend Jesse Unruh long ago famously observed, “money is the mother’s milk of politics.” Several lifetimes later, both parties now deal with fantastic fortunes that would have made even Unruh’s head spin. Are we on the threshold of seeing the most expensive presidential contest ever? The smart money is betting on it.

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RONNA MCDANIEL

STOCK: FALLING

Think fast: You’ve just stepped down after seven years as chair of the Republican National Committee, a job that essentially boils down to keeping the GOP troops motivated and shaking the Big Money tree. During that time, your party was slaughtered in one midterm election (2018), lost the presidency (2020), and underperformed in the midterms that followed (2022). You’ve been squeezed out of your job, too.

So, what do you do next?

When you’re Ronna McDaniel, you run to the liberal MSM. Not just any old liberal outlet, either, but the most liberal one of them all. NBC.

The ex-GOP chair made her debut Sunday as a contributor to “Meet the Press.” She’ll even chime in from time to time on MSNBC, the hyper-partisan news channel whose sole purpose is vilifying the very political party she led until earlier this month.

That has conservatives blasting her as a modern-day Benedict Arnold, who became a general in the British army after betraying the Patriot cause. Given that McDaniel is the niece of Mitt Romney, the Republican most at home in Democratic circles, that old adage about comfortable shoes comes to mind. (“If the shoe fits, wear it.”)

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THE UNITED STATES MILITARY ACADEMY

STOCK: FALLING

It finally happened. West Point went woke. And many members of the fabled Long Gray Line are none too happy about it.

The legendary halls of military learning, which trained the likes of such heroes as Dwight Eisenhower, Douglas MacArthur, and George S. Patton, now feel the need to kowtow to radical progressives. 

Superintendent Lt. Gen. Steve Gilland recently announced the 222-year-old internationally respected institution is changing its mission statement.  It now reads, “To build, educate, train, and inspire the Corps of Cadets to be commissioned leaders of character committed to the Army Values and ready for a lifetime of service to the Army and Nation.”

The phrase “Army Values” replaces the traditional “Duty, Honor, Country,” which has also been West Point’s motto since 1898.

Opponents of the change point out that the new wording is more palatable to globalists. 

At least one person upset by the switch wants answers. And she’s in a position to get them. Tennessee Sen. Marsha Blackburn fired off a letter to Gen. Gilland asking for an explanation. “‘Duty, Honor, Country’ is a phrase that has become synonymous with the Academy itself.  These three words serve as a solemn reminder that our country is worth defending, with the utmost honor.” 

Army spinmeisters are trying to shrug off the whole thing. They note the mission statement is memorized by “Plebes” (first-year cadets) and largely ignored by everybody else. Yet, why bother altering someone so innocuous?

Meanwhile, millions of everyday Americans look at the rewrite and wonder with a pinch of “If it ain’t broke, don’t fix it” practically why the change was needed in the first place.

The Army has yet to answer that.

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