The Ben Shapiro Show – Ep. 1821 – McCarthy OUT As Speaker

Intro

In this episode of “The Ben Shapiro Show,” host Ben Shapiro discusses the ousting of Kevin McCarthy as Speaker of the House by the Republican Circular Fire and Squad. He delves into the systemic advantages the GOP has going into the 2024 elections, the Democrats’ continued alignment with radical left policies despite their unpopularity, and the strategic ineptitude of the Republicans. Ben also explores the incentive structure in politics that creates fame-seeking politicians and the collective action problem within parties. Additionally, he analyzes the economic situation in the US, rising treasury yields, and the vulnerability of the Democrats. The episode concludes with a discussion on the controversial vote against McCarthy and the motivations behind it.

Main Takeaways

Kevin McCarthy’s Ousting as Speaker of the House

• Kevin McCarthy is removed as Speaker of the House by the Republican Circular Fire and Squad.
• Eight House Republicans vote against McCarthy, despite 96% of the Republican caucus supporting him.
• The incentive structure in politics creates politicians who prioritize personal gain and attention over party and movement interests.
• McCarthy’s conservative leadership and achievements against Joe Biden do not save him from being ousted.

The Economic Situation and Debt Crisis

• The US faces an economic downturn, with stocks tumbling and the highest Treasury yields since 2007.
• America’s national debt is greatly exacerbated, and interest payments on debt will soon surpass defense spending.
• Banks are bracing for a recession, with reserves at the highest level in three decades.
• Higher treasury yields cause dramatic sell-offs and pose challenges for banks.

Political Incentives and Grandstanding

• Matt Gaetz and his crew vote against Kevin McCarthy as Speaker of the House, potentially for personal gain and attention.
• Political incentives have shifted from getting things done to grandstanding for media coverage.
• The continuing resolution is only passed due to Gaetz and his crew’s decision not to vote for a Republican-only version.
• Democrats do not intervene to save McCarthy, viewing it as a problem within the Republican party.

The Future of the Republican Party

• Republicans are in a historically good position to win back seats in Congress and the presidency.
• The Speaker of the House position becomes undesirable due to dealing with a fractious caucus.
• Jim Jordan is a potential candidate for Speaker of the House, but the job lacks appeal.
• Republicans need to address entitlement restructuring to tackle the deficit and secure victory.

Summary

The Ousting of Kevin McCarthy and Political Incentives

Kevin McCarthy’s removal as Speaker of the House highlights the conflicting incentives in politics. While McCarthy was the most conservative speaker Republicans have had since Newt Gingrich and achieved victories against Joe Biden, he was ousted by a few House Republicans who prioritized personal gain and attention. This reflects the incentive structure in politics that encourages politicians to seek fame, run for higher office, or start organizations. Additionally, parties no longer have the power to punish their members, resulting in a collective action problem where a few individuals can hold the entire caucus hostage. This episode sheds light on the challenges faced by politicians and the impact of personal and political incentives on party and movement interests.

The Economic Situation and Debt Crisis

The US is experiencing economic turbulence, with stocks tumbling and Treasury yields reaching their highest levels since 2007. This raises concerns about a potential recession. The country’s national debt is a pressing issue, with interest payments on debt projected to surpass defense spending. Banks are preparing for a recession, accumulating reserves at the highest level in three decades. Rising treasury yields are causing dramatic sell-offs, posing challenges for banks. These economic factors create vulnerabilities for the Democrats, who are currently in power.

Grandstanding and the Future of the Republican Party

Matt Gaetz and his crew’s vote against Kevin McCarthy as Speaker of the House appears to be driven by personal gain and attention-seeking. This reflects the shift in political incentives from getting things done to grandstanding for media coverage. The lack of intervention from Democrats indicates that they view McCarthy’s ousting as a problem within the Republican party. The future of the Republican party is uncertain, with the Speaker of the House position becoming undesirable due to the challenges of managing a fractious caucus. Jim Jordan is a potential candidate for Speaker of the House, but the job lacks appeal. To secure victory, Republicans need to address entitlement restructuring and strategize for upcoming elections.

Conclusion

The ousting of Kevin McCarthy as Speaker of the House highlights the conflicting incentives in politics and the challenges faced by politicians. The economic situation in the US, rising treasury yields, and the vulnerability of the Democrats add further complexity to the political landscape. The future of the Republican party remains uncertain, with the Speaker of the House position becoming less desirable. As the political landscape evolves, strategic decision-making and addressing key issues will be crucial for both parties.