{"id":1446,"date":"2026-06-11T18:10:15","date_gmt":"2026-06-11T18:10:15","guid":{"rendered":"https:\/\/nextaddressamerica.com\/?p=1446"},"modified":"2026-06-11T18:10:15","modified_gmt":"2026-06-11T18:10:15","slug":"bitter-disappointment-bloomberg-tears-apart-republicans-for-wrecking-the-economy","status":"publish","type":"post","link":"https:\/\/nextaddressamerica.com\/?p=1446","title":{"rendered":"‘Bitter disappointment’: Bloomberg tears apart Republicans for wrecking the economy"},"content":{"rendered":"
\n

The Republican-led Congress has been a \u201cbitter disappointment,\u201d the Bloomberg Editorial Board argues. It points to the body\u2019s \u201clackluster effort,\u201d its \u201cham-handed\u201d cuts to medical coverage, and how it dropped much of its agenda \u201cin favor of writing big checks.\u201d<\/p>\n

Read more GOP strategists sweating over Trump\u2019s \u2018extremely unhelpful\u2019 midterms gaffe<\/a><\/p>\n

\u201cAfter two years in charge of a unified federal government, what has the Republican Party accomplished? If current polling is any indication, not enough,\u201d the Editorial Board writes. It points to the Senate\u2019s $70 billion budget reconciliation bill \u2014 which passed the House of Representatives \u2014 \u201cthat will mostly add to a glut of immigration funding.\u201d<\/p>\n

This GOP Congress has \u201cfattened the budgets of immigration authorities while doing little to fix the broken incentives that lure unauthorized migrants in the first place (let alone to rationalize the legal immigration system).\u201d<\/p>\n

The Board accuses Congress of pledging to fight inflation, while standing \u201caside as the president has imposed a costly global tariff regime. After coming into office promising \u2018massive reform\u2019 to the health-care system, they\u2019ve mostly cut coverage in ham-handed ways.\u201d<\/p>\n

Saying Congress \u201chas done nothing to rein in long-term liabilities,\u201d the Board calls the trajectory of the federal government\u2019s debt \u201cunsustainable.\u201d<\/p>\n

\u201cMore egregiously, the party that flatters itself as fiscally responsible hasn\u2019t lifted a finger to rein in budget deficits,\u201d it writes. \u201cLast year\u2019s tax cuts alone increased projected deficits by $4.7 trillion over the next decade. For all the turmoil engendered by the Department of Government Efficiency, the country\u2019s spending problem has worsened decisively.\u201d<\/p>\n

Read more Swing-state Republican says Nevada\u2019s only red district no longer a guarantee<\/a><\/p>\n

The Board warns that the midterms are just months away, and Congress shouldn\u2019t \u201ccongratulate themselves prematurely\u201d \u2014 but it could take several steps.<\/p>\n

Among them, it could \u201ccommit to respecting the Federal Reserve\u2019s independence under new Chairman Kevin Warsh,\u201d and promote permitting reform \u201cto slash red tape, reduce costs, and accelerate energy and infrastructure projects.\u201d<\/p>\n

Congress could work on expanding housing supply and medical transparency, or \u201cremind the president that his tariffs are harming workers and inflating consumer prices.\u201d<\/p>\n

And in an apparent rebuke, Bloomberg writes, \u201cWith federal spending threatening to slow income growth and drive up interest rates \u2014 or indeed prompt a fiscal crisis \u2014 they could take the minimum step of empaneling a commission to ponder the problem.\u201d<\/p>\n

Read more Furious House Republicans reach a \u2018boiling point\u2019 over MIA members<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Republican-led Congress has been a \u201cbitter disappointment,\u201d the Bloomberg Editorial Board argues. It points to the body\u2019s \u201clackluster effort,\u201d its \u201cham-handed\u201d cuts to medical coverage, and how it dropped much of its agenda \u201cin favor of writing big checks.\u201d\u201cAfter two years in charge of a unified…<\/p>\n","protected":false},"author":1,"featured_media":1445,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n'Bitter disappointment': Bloomberg tears apart Republicans for wrecking the economy - Next Address America<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextaddressamerica.com\/?p=1446\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"'Bitter disappointment': Bloomberg tears apart Republicans for wrecking the economy - Next Address America\" \/>\n<meta property=\"og:description\" content=\"The Republican-led Congress has been a \u201cbitter disappointment,\u201d the Bloomberg Editorial Board argues. 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