Berliner Boersenzeitung - Kevin McCarthy, US House speaker felled by his own side

EUR -
AED 4.074172
AFN 72.108987
ALL 90.824441
AMD 405.33465
ANG 1.98554
AOA 1018.404891
ARS 1713.409223
AUD 1.620889
AWG 1.996872
AZN 1.887436
BAM 1.956353
BBD 2.260039
BDT 139.899538
BGN 1.938997
BHD 0.423314
BIF 3356.748678
BMD 1.109374
BND 1.434505
BOB 13.308421
BRL 6.195071
BSD 1.122102
BTN 105.454803
BWP 15.394143
BYN 3.35975
BYR 21743.721171
BZD 2.256738
CAD 1.580719
CDF 2568.199705
CHF 0.923515
CLF 0.027733
CLP 1091.501218
CNY 7.399909
CNH 7.401707
COP 3639.854549
CRC 507.536577
CUC 1.109374
CUP 26.930611
CVE 110.301642
CZK 24.379485
DJF 199.816472
DKK 7.475353
DOP 68.058314
DZD 151.77448
EGP 59.4034
ERN 16.640603
ETB 182.631746
FJD 2.515671
FKP 0.832791
GBP 0.835663
GEL 2.892377
GGP 0.832791
GHS 13.139714
GIP 0.832791
GMD 82.093697
GNF 9940.85427
GTQ 8.574849
GYD 235.138112
HKD 8.702808
HNL 30.162117
HRK 7.509361
HTG 147.082231
HUF 364.894935
IDR 20156.207651
ILS 3.522094
IMP 0.832791
INR 103.94059
IQD 1701.17279
IRR 2114549.149658
ISK 136.597482
JEP 0.832791
JMD 178.087923
JOD 0.78658
JPY 177.144299
KES 144.130193
KGS 97.014271
KHR 4576.313975
KMF 490.343131
KPW 998.436133
KRW 1478.340206
KWD 0.345426
KYD 0.935064
KZT 500.971584
LAK 25257.138127
LBP 100483.898578
LKR 372.915393
LRD 190.753911
LSL 18.395899
LTL 3.275692
LVL 0.671049
LYD 7.193033
MAD 10.946336
MDL 20.163699
MGA 5077.366304
MKD 61.550467
MMK 2329.402127
MNT 3997.576444
MOP 9.066953
MRU 45.265181
MUR 52.32903
MVR 17.080834
MWK 1945.723588
MXN 20.651399
MYR 4.518033
MZN 70.880462
NAD 18.395899
NGN 1493.837622
NIO 41.29167
NOK 10.603658
NPR 168.725404
NZD 1.994826
OMR 0.426558
PAB 1.122173
PEN 3.824181
PGK 5.039356
PHP 70.265494
PKR 308.094307
PLN 4.410924
PYG 6926.957684
QAR 4.090559
RON 5.345628
RSD 117.60914
RUB 92.160393
RWF 1660.146741
SAR 4.170261
SBD 8.975661
SCR 15.494376
SDG 667.286472
SEK 11.058862
SGD 1.424974
SHP 0.831272
SLE 25.38689
SLL 23263.013098
SOS 641.272565
SRD 41.763467
STD 22961.792237
STN 24.506595
SVC 9.818775
SYP 14424.074276
SZL 18.400952
THB 37.463662
TJS 10.312672
TMT 3.882807
TND 3.344411
TOP 2.671105
TRY 55.752455
TTD 7.610151
TWD 36.473095
TZS 2952.468979
UAH 51.035934
UGX 4578.520965
USD 1.109374
UYU 45.405083
UZS 13436.797483
VES 998.98033
VND 28460.423204
VUV 132.922017
WST 3.09189
XAF 655.957
XAG 0.02165
XAU 0.000279164582
XCD 2.998137
XCG 2.022381
XDR 0.784385
XOF 655.957
XPF 119.331742
YER 262.330436
ZAR 18.422197
ZMK 9985.701079
ZMW 22.862461
ZWL 357.217824
SSP 6373.791908
MXV 2.320385
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Kevin McCarthy, US House speaker felled by his own side
Kevin McCarthy, US House speaker felled by his own side / Photo: ANDREW CABALLERO-REYNOLDS - AFP

Kevin McCarthy, US House speaker felled by his own side

Republican Kevin McCarthy rode the tiger of far-right US politics led by Donald Trump to achieve his dream of becoming House speaker early this year. Then on Tuesday, the tiger turned and ate him.

Text size:

The 55th speaker of the House of Representatives was booted out in a shock vote brought by rebels in his own party who have seethed in the nine months since McCarthy narrowly quelled their attempts to block him and managed to claim the most powerful job in Congress.

No other speaker -- a position second in line from the presidency in the federal hierarchy -- has been ousted in US history.

It was an undignified end -- for now, at least -- to an unstable, unauthoritative tenure by a lawmaker who made his mark as a so-called conservative "Young Gun," only to get battered by his party's shifting political currents.

Like many in Congress, he had berated Trump after the January 6, 2021 US Capitol riot. But the ambitious lawmaker sensed the winds changing and quickly reversed himself, making a public trip down to Florida to make peace with Trump -- thereby securing crucial support for his speakership ambitions.

Once McCarthy, 58, got what he wanted, though, he faced an uncomfortable reality: his grip on power would from then on be at the whim of his party's burn-down-the-house hardliners.

- Compromise kills -

In May he strode into a tense standoff with Democratic President Joe Biden over authorizing an extension of the national debt limit.

He struck an 11th-hour deal to avert a catastrophic US debt default, and while he hailed it as a victory for conservatives -- and good governance -- he faced a backlash from hardliners who said he had made too many concessions on spending cuts.

His limited engagement with Democrats was again the subject of the far-right's ire last week when he used votes from the rival party to stave off a government shutdown.

The move defied hardliners -- and Trump -- who advocated harsh tactics in pursuit of forcing massive spending cuts and bringing down the country's $31-trillion-plus debt burden.

- Haunted from the start -

McCarthy has described himself as an "optimist," but there has been no placating the uncompromising right-wing of the Republican Party that flourished under Trump and never went away.

Simply to secure the speakership in January took him a record 15 rounds of voting to win and he finally got over the line only after making concessions to a bloc of around 20 far-right Republicans.

Analysts at the time immediately predicted this would come back to haunt McCarthy, by putting the hardliners in the driving seat.

One of those concessions was a rule change that makes it possible for just one disgruntled member to call a vote for a new speaker of the House, effectively dangling a sword over McCarthy.

Backbencher Matt Gaetz, a Trump loyalist and emerging face of the far-right, seized on that change and filed the so-called motion to vacate the chair, leading to McCarthy's ouster on Tuesday.

- Networker -

The speaker wields huge influence in Washington by presiding over House business and is second in line to the presidency, after the vice president.

Nothing prevents McCarthy from running for speaker again. But the question is: can his party overcome its internal feuds and hand him back the gavel, or will they turn to new blood?

McCarthy -- who represents the conservative enclave of Bakersfield in liberal California -- has been in politics for most of his adult life, as a state legislator and US lawmaker in Washington.

The son of a firefighter and grandson of a cattle rancher, McCarthy grew up in a working-class household.

He married his high school sweetheart and the couple still live in the first house they bought, where they raised two children.

McCarthy, first elected to Congress in 2006, has no major legislative achievements to his name and has never chaired a House committee, unlike each of the last three speakers.

However, the silver-haired, impeccably dressed lawmaker is a consummate networker, admired for his prolific fundraising and his people management.

(T.Renner--BBZ)