Senate confirms Kevin Warsh as Fed governor, clears way for chair vote

Finally! A confirmation from the Senate.

If you look at the confirmation votes over the years, its always the Republicans who give deference and the dimocraps who vote against on party lines.

I'm hoping Warsh will lower interest rates. Even if that does lead to some higher inflation.

Our GDP is higher than our National Debt. That means that even if the US threw everything we earn at the National Debt, we still could not pay it off.

Right now the interest alone we throw at the debt is over a trillion dollars per year.

But actually the US is in a better economic position now than we were after World War II. And what worked then is what will work now.

US public debt as percentage of GDP Post-WWII vs. Today

After World War II, the US debt-to-GDP ratio peaked at 106% in 1946 and fell dramatically to 23% by 1974—a reduction of 83 percentage points over 28 years. Today, the US debt has surpassed 100% of GDP for the first time since WWII, reaching approximately 123-125% in 2025-2026.

How the US Reduced Debt After WWII

The post-war debt reduction resulted from three key factors working together:

Primary budget surpluses: The US ran fiscal surpluses by collecting more in taxes than it spent on current government programs. From 1947-1974, the primary surplus averaged 1.1% of GDP annually. The government registered sizable surpluses in the late 1940s as military spending dropped, and budgets cycled near balance through the 1950s. Notably, during the Korean War, increased military outlays were matched by revenue measures to avoid additional borrowing.

Financial repression and controlled interest rates: The Federal Reserve kept interest rates artificially low on government bonds—below the rate of economic growth and inflation. From 1942-1951, the Fed pegged Treasury bond rates to help finance the debt cheaply. Even after the 1951 Treasury-Federal Reserve Accord ended this policy, unexpected inflation meant investors received lower real returns than anticipated, effectively reducing the government's debt burden.

Strong economic growth: Real GDP grew robustly after initial post-war contraction in 1946-47, providing a larger economic base against which to measure the debt. However, recent research shows this played a smaller role than commonly believed—without surpluses and interest rate suppression, the debt ratio would have fallen only from 106% to 84% by 2022, not to 23%.

Also:

“Trump says Makary is out as FDA commissioner, following industry and White House backlash”

https://www.cnbc.com/2026/05/12/trump-fda-commissioner-marty-makary-out.html

“Dr. Marty Makary is out as FDA commissioner, President Donald Trump said Tuesday, ending a controversial tenure.

Makary, a surgical oncologist known for criticizing the government’s handling of the Covid pandemic, had reportedly fallen out of favor with both FDA staff and the White House in recent months. He served as head of the agency responsible for regulating food, drugs and medical devices for more than a year.

His tenure was marked by internal dysfunction and leadership turmoil at the FDA, along with mounting backlash from drugmakers, physicians and patient groups on regulatory decisions, including high-profile rejections of some rare disease treatments. At the same time, the White House reportedly grew increasingly impatient with what it viewed as his slow movement on Trump’s key policy initiatives, such as legalizing flavored vapes. “

Warsh deserved a higher vote margin than that - which just goes to prove again that Ds vote “against” if Trump is “for.” that’s the behavior of 3-yr olds - but they grow out of it as they learn to think.

Just FYI, All Republicans voted FOR!
Even the “RINO’s”
People here do not like some of them, but they still mostly vote with the rest!
They a far better than any possible Dem.

“But actually the US is in a better economic position now than we were after World War II. And what worked then is what will work now.”

Not really. Back then we were the world’s largest creditor nation. Now we are the biggest debtors in all of human history. We were 50% of global manufacturing and 40% of global GDP.
We are most assuredly NOT in a better economic position today than after WWII.