Former Speaker of the House Newt Gingrich (R-GA), who has endorsed the GOP’s presumptive presidential nominee Donald Trump, made his political name as a fiscal conservative, budget hawk and a man who butted heads with President Bill Clinton over spending bills that led to two government shutdowns.
[Gingrich told a PBS interviewer: “I think a relatively modest federal debt, just enough to help the Federal Reserve manage the currency, is probably the right number.”]
The U.S. has acquired far more debt than that — and it’s a bone of political contention between Democrats and Republicans that the GOP emphasizes, frequently claiming the high ground as fiscally responsible, even if in reality both parties are very good at spending.
While the wreckage of Baltimore’s collapsed Francis Scott Key Bridge begins to be cleared, President Biden told the country: “I fully intend…that the federal government [will] cover the cost of building this entire bridge. All of it.”
Normally ready to hurl uppercuts at Democrats, Gingrich unusually called out his fellow Republicans on the issue. He wrote: “Why are the politicians rushing to have taxpayers pay the full cost of rebuilding the Baltimore bridge when there is a shipping company and insurance companies who should pay.”
Why are the politicians rushing to have taxpayers pay the full cost of rebuilding the Baltimore bridge when there is a shipping company and insurance companies who should pay. There is a long history of fixing maritime disasters being funded by the responsible parties. Why are…
— Newt Gingrich (@newtgingrich) April 5, 2024
Gingrich added: “There is a long history of fixing maritime disasters being funded by the responsible parties. Why are Republicans rushing to throw away money we don’t have?”
Gingrich received numerous responses in the comments, including questions about how federal disaster money is generally spent — often “redistributed” to help states where local taxes are kept low and which rely on federal aid.
If you are worried about not having enough revenue… 1)Why do we in the North pay taxes that are used to clean up hurricanes and other disasters endemic to 4-5 states so they can keep their state taxes artificially low? 2)why aren’t the top 1% paying a flat tax rate? #VoteBlue…
— Mark It Down (@mdkulin) April 6, 2024
Many recognized the need to fund the repair of the bridge — which is critical U.S. infrastructure — while the damages are sorted out in court, which takes longer than a federal response.
A Gingrich supporter wrote: “The port needs to be reopened and the auxiliary highway segment that bridge supports needs to be restored before the years of lawsuits by the insurance companies can play out.”
Newt, I’m one of your supporters. But it is obvious. The port needs to be reopened and the auxiliary highway segment that bridge supports needs to be restored before the years of lawsuits by the insurance companies can play out. And compared to everything else they are…
— msharp (@sharpinluminata) April 6, 2024
Note: Singapore-based Grace Ocean Private Ltd. which owns the cargo ship that lost electricity and rammed into the bridge, causing it to collapse, filed a court petition last week with the company that managed the ship, Synergy Marine Pte Ltd, seeking to limit their legal liability for the deadly disaster. Their joint filing seeks to cap the companies’ liability at roughly $43.6 million.
The “limitation of liability” petition is standard procedure for cases litigated under U.S. maritime law. A federal court in the State of Maryland will decide who is responsible and how much they owe.