BETSY MCCAUGHEY: America’s Border Crisis Will Continue To Fester While Taxpayers Foot The Bill For Social Safety Net thumbnail

BETSY MCCAUGHEY: America’s Border Crisis Will Continue To Fester While Taxpayers Foot The Bill For Social Safety Net

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By The Daily Caller

When Emma Lazarus wrote her famous line in 1883, “Give me your tired, your poor,/ Your huddled masses yearning to breathe free,” there was no Medicaid, food stamps, housing vouchers and government-run shelters. Those who came knew they were on their own. Now they arrive with their hands out.

A country can have open borders or a generous social safety net, but not both. President Joe Biden is the poster boy for that mistake, and cities across the U.S. are paying the price.

New York City Mayor Eric Adams has warned that the cost of sheltering, feeding and providing health care and other services to the deluge of migrants will “destroy” the city. Yet Adams returned empty-handed from a visit with Biden’s staff on Dec. 8 to seek federal help. For the second time, New Yorkers are being told by a U.S. president, in so many words, to “drop dead.”

Biden is also turning his back on Chicago, Boston, Los Angeles and other cities beleaguered by the busloads of destitute migrants from the southern border. Chicago Alderman Raymond Lopez says in the black community there is “no longer feeling the love from Uncle Joe,” as Biden leaves the city to struggle alone with the cost of feeding and sheltering migrants.

Windy City Democrats, outraged by the burden thrust on them, are vowing to disrupt the Democratic National Convention next summer and make their voices heard.

Americans everywhere feel the same. Charity is supposed to begin at home. Chicagoans want to take care of their own first, including the 68,000 locals who are homeless.

Immigration is spiking to all-time highs, exceeding even the wave of newcomers from Europe in the late 19th century, when Lazarus wrote her poem.

About half the spike is due to Biden’s open-border policies. A record 12,000 broke through the southern border last Tuesday, the biggest one-day surge ever.

Immigration per se is not the problem. The U.S. economy needs more workers. With the birthrate declining and baby boomers retiring, the U.S. has a people-shortage problem that can only be solved by immigration.

But Biden is welcoming destitute migrants, instead of newcomers who are educated, have job skills to succeed in today’s economy, speak English and arrive ready to provide for their families.

Biden’s open border means anyone who wades across the Rio Grande gets in. Biden’s legal immigration policy — introduced into the Senate in 2021 — also prioritizes everything but economic self-sufficiency.

Biden’s predecessor, former President Donald Trump, ramped up enforcement of the longstanding “public charge” rule that bars anyone from getting a green card and permanent residence who is likely to depend on Medicaid, food stamps or housing vouchers. Biden reversed this policy.

Countries with smart immigration policies — Canada, Australia, New Zealand and the United Kingdom — have point systems giving preference to educated immigrants with language and job skills.

In contrast, two-thirds of legal immigrants to the U.S. get a green card based solely on having a family member here, whether they can support themselves or not.

It’s no wonder that a staggering 55% of households headed by an immigrant who has not yet attained citizenship use at least one welfare program, according to Census Bureau data.

Biden’s proposed immigration “reform” actually loosens the standards for family-based migration even more, never mind the impact on taxpayers and city social services.

And here’s the wackiest legal immigration program: the diversity lottery. Fifty thousand immigrants from “underrepresented nations” are literally admitted randomly every year. Biden wants to expand that. Canada is recruiting Ph.Ds. Biden is prioritizing diversity.

Sens. Kevin Cramer (R-N.D.) and John Hickenlooper (D-Colo.) introduced a bill on Nov. 24 to establish a point system or “skills-based approach” here. Americans tired of supporting the strangers coming to their shores, when their own neighbors need help, should support this bill. That includes New York Democrats such as Sens. Chuck Schumer and Kirsten Gillibrand.

House Minority Leader Hakeem Jeffries — a New Yorker — charges that Republican reform plans, including deterring illegal migration, are “anchored in xenophobia.” Wrong. They’re anchored in survival.

Unless the U.S. acts to shut down illegal migration and reform legal immigration to favor self-sufficiency, New York and other cities face even tougher days ahead.

COPYRIGHT 2023 CREATORS.COM

AUTHOR

BETSY MCCAUGHEY

Betsy McCaughey is a former lieutenant governor of New York and chairman of the Committee to Reduce Infection Deaths. Follow her on Twitter @Betsy_McCaughey. To find out more about Betsy McCaughey and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

RELATED ARTICLE: Biden Admin Mum On Kamala Harris’ Latest Accomplishments As ‘Border Czar’ As Illegal Immigration Surges

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

SUZANNE DOWNING: Biden FCC’s Treatment Of Elon Musk’s Starlink Is A Slap In The Face To Rural Americans thumbnail

SUZANNE DOWNING: Biden FCC’s Treatment Of Elon Musk’s Starlink Is A Slap In The Face To Rural Americans

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By The Daily Caller

Look up in the night sky this month: It’s the Geminids meteor shower putting on a show … or it just might be a Starlink satellite orbiting to provide communications connectivity to rural America.

For good or ill, America is increasingly dependent on digital connectivity. But as West and East coasts have locked in high speed broadband, vast portions of rural America were left behind, struggling with unreliable or nonexistent internet access.

Enter Starlink, the game-changing space-based satellite broadband by SpaceX, which is revolutionizing communications across rural America, while improving internet speeds for flyover states that President Joe Biden will never win in 2024.

Yet, in the face of innovation, progress, Elon Musk’s own private capital investment and provable successes of Starlink’s low-orbit satellites, Biden’s Federal Communications Commission(FCC) is telling Musk to take a hike. The FCC wants fiber optic cable at great cost, not Starlink at a lower cost.

It all traces back to President Biden’s vendetta against Musk, which ramped up to warp speed after Musk’s acquisition of Twitter in 2022, when Musk unleashed, almost overnight, the world’s most vibrant free-speech platform.

Musk has used that platform to throw a few deserved digs at the Biden administration for its suppression of free speech under the previous Twitter ownership.

The billionaire entrepreneur, once he looked into the files at Twitter, produced the receipts to show that the federal government had been continuously collaborating with social media giants Twitter and Facebook to suppress the speech of conservatives.

Biden worries about public sentiment turning against him, and he’s trying to cripple Musk by proxy through federal agencies, according to Trump-appointed FCC Commissioner Brendan Carr, who is in the minority on the commission.

Biden’s statements a year ago about how Musk’s cooperation with foreign countries were “worthy of being looked at” in “a lot of way” gave a green light for government agencies to initiate investigations into all-things Musk world.

The Department of Justice, the Federal Aviation Administration, the Federal Trade Commission, the National Labor Relations Board, the U.S. Attorney for the Southern District of New York and even the Department of Interior’s Fish and Wildlife Service, initiated investigations into Musk or his businesses, Commissioner Carr said in his letter of dissent.

This relentless hounding of Musk looks an awful lot like regulatory harassment. The three Democrats who comprise the majority on the five-member FCC, in denying a grant for satellite launches, claim that Starlink simply failed to meet their standards. Carr says those standards couldn’t be met by anyone, ever, and are being applied solely to Starlink.

Consider Starlink’s recent track record. When Russia disabled Ukraine’s internet, Starlink swiftly deployed low-orbit satellites, providing critical connectivity to the embattled nation.

In the Gaza strip, Starlink offered humanitarian aid with the approval of Israel’s Prime Minister Benjamin Netanyahu last month, after Hamas had started a war with Israel and Netanyahu disabled internet in Gaza so Hamas could not use it for terrorism communications.

The Starlink service also came to the rescue of Tonga after a volcano erupted, severing communication lines in December 2021. Starlink stepped in to restore internet service to Alaska’s Arctic coastline after an undersea fiber optic cable was cut by moving ice in June, leaving isolated communities stranded without internet access for months.

These actions by Starlink were undertaken without government subsidies. But even Musk’s billions can only go so far. Right now, the federal government says it is trying to expand broadband in America, and it looks like it will help anyone, at any cost, so long as the name is not Elon Musk.

Starlink’s satellite mega-constellation is made up of over 5,000 operational satellites, now delivering high-speed internet to millions across the world in 40 countries and counting. This technology represents a giant leap forward in connectivity, especially for disadvantaged areas, like Alaska.

Yet even in Alaska, the feds just awarded one tribal group – Tanana Chiefs Conference — a $35 million grant that costs U.S. taxpayers $365,000 for each household hooked up to fiber in three remote villages, Venetie (pop. 126 with 39 households), Chalkyitsik (pop. 118, with 40 households) and Circle (pop. 42, with 17 households).

Then, the taxpayers will also underwrite the operations of these fiber optic systems to less than 100 households. In Nuiqsut, Alaska, where there are a whopping 125 households, the cost-per-household, born by U.S. taxpayers, is $320,000.

Alaska is a perfect place for space-based satellite internet. The fiber optic plan is nowhere near sufficient for the geography. Other parts of America, even those not at the edge of the world like Alaska is, are also well-suited for this leapfrog technology.

It is time for the FCC to put aside political vendettas and embrace progress.

AUTHOR

SUZANNE DOWNING

Suzanne Downing is founder and managing editor of Must Read Alaska.

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.

RELATED ARTICLE: FCC Commissioner Slams Biden For Urging ‘Administrative State’ To Target Elon Musk

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Senate Republicans Block Key Vote for Foreign Aid Package without Border Security thumbnail

Senate Republicans Block Key Vote for Foreign Aid Package without Border Security

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By Federation for American Immigration Reform

Last Wednesday, Senate Republicans blocked consideration of President Biden’s foreign aid package because congressional Democrats refused to include meaningful provisions to secure our own borders.  Majority Leader Chuck Schumer (D-N.Y.) attempted to bring the package to the floor for a key procedural vote — a vote to proceed to debate, which requires a 60-vote threshold – but was unable to secure any Republican votes.  The final tally was 49-51, with two Democrats also voting no for unrelated reasons.

The foreign aid package included funding for Ukraine, Israel and Taiwan, along with more money to continue processing and releasing illegal aliens at the southern border.  The bill largely follows the Biden Administration’s supplemental funding request from October, including money for the border that would do nothing but reinforce the broken system without changing the policies that have fueled the crisis.

Schumer’s move followed several weeks of border security negotiations that saw Republicans pushing for commonsense reforms to end asylum abuse and stop unlimited parole authority.  Democrats meanwhile, were attempting to paint the discussions as “hard-right” while raising the idea of amnesty once again. The negotiations stalled right before the vote, with both sides expressing frustration.

The Senate group leading border security talks, in coordination with Senate leadership, restarted discussions on Thursday, noting that a new proposal is now on the table. That group is made up of Republicans James Lankford (R-Okla.), Lindsey Graham (R-S.C.), Tom Cotton (R-Ark.) and Thom Tillis (R-N.C.), along with Democrats Chris Murphy (D-Conn.), Krysten Sinema (I-Ariz.) and Michael Bennet (D-Colo.).

Senior Senate Republicans also held a press conference Thursday, making clear their continued commitment to border security changes as part of the foreign aid package.  Attending senators included Graham, Cotton, Tillis, John Thune (S.D.), Chuck Grassley (Iowa), John Cornyn (Texas), and Katie Britt (Ala.). Following introductory comments from Sen. Graham reiterating that amnesty is not being considered, Minority Whip Thune said Republicans are “dead serious” about ending the Biden Administration’s border crisis.

The comments echo those from Minority Leader Mitch McConnell (R-Ky.), who after the vote stated: “It is profoundly unserious to pretend that national security priorities don’t include securing our nation’s borders… Right now, the crisis created by the Biden Administration’s neglect is bringing illegal aliens to the United States at a rate of 300,000 a month. That’s roughly the population of Lexington, Kentucky, arriving every month. And thanks to an asylum and parole system that desperately needs fixing, many of them are just brought straight in.” For his part, Schumer referred to last Wednesday as a “sad night,” continuing to say, “I hope that [Republicans] come up with something serious instead of the extreme policies they’ve presented thus far.”

The Senate vote came the same week that Customs and Border Protection (CBP) recorded more than 12,000 illegal aliens attempting to enter the country illegally in a single day – the largest number ever recorded.  And, over the weekend, Arizona Governor Katie Hobbs sent a letter to the Biden Administration demanding more than half a billion dollars be reimbursed for “ongoing border operations resulting from the federal government’s failure to secure the Arizona border.”  That development continues the trend of Democrat leaders calling out the Biden Administration on the issue, after Democrats in New York and Chicago also had criticism for the Administration in recent weeks.

Having demonstrated a united front last week, congressional Republicans have a real chance to deliver a win for the American people by standing firm. Three years into the Biden Border Crisis, this foreign aid package is perhaps the best opportunity to end the border surge by ensuring policy reforms are included to detain and remove illegal aliens, curb massive asylum fraud and halt the Administration’s rampant abuse of parole authority.  Fortunately, a blueprint to do that already exists in the FAIR-supported H.R. 2, the Secure the Border Act, passed by the House of Representatives in May 2023.  Throwing more money at the border crisis won’t solve it. We need real policy reforms and H.R. 2 is the solution.

To learn more about H.R. 2 and FAIR’s efforts to support strong measures to secure our borders, visit our activist toolkit here.

AUTHOR

Joe Chatham

Joe Chatham joined FAIR in 2022, bringing significant congressional, campaign, and nonprofit experience to the organization. As part of FAIR’s influential government relations team, he helps manage Capitol Hill outreach and policy, advocating for a secure border and a just, equitable legal immigration system.

Before joining FAIR, Joe worked with a large range of organizations, from congressional offices and political campaigns, to intergovernmental organizations and think tanks. Most recently, he served as counsel to a member of congress, where he handled the representative’s immigration portfolio for the House Committee on the Judiciary.

He holds a Bachelor of Arts from the University of Michigan, a Master in Public Administration from the Harvard Kennedy School, and a Juris Doctor from Yale Law School.

RELATED ARTICLES:

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Lukeville, Arizona Point of Entry Forced to Close under Crush of Illegal Migrants

Immigration Court Backlog Sits at Nearly Three Million; Biden’s Policies Piling on More

Bill Seeks to Tip the Scales in Legal Immigration, Favoring Some Nationalities over Others

EDITORS NOTE: This FAIR column is republished with permission. All rights reserved. © COPYRIGHT 2023 FEDERATION FOR AMERICAN IMMIGRATION REFORM, ALL RIGHTS RESERVED

$7.5 Billion Dollars Of Tax Payer Money for Electric Vehicle Chargers Nobody Wants thumbnail

$7.5 Billion Dollars Of Tax Payer Money for Electric Vehicle Chargers Nobody Wants

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By Geoff Ross

The do nothing Congressional UniParty comprised of Republican socialists and Communist Democrats joyfully use your hard earned tax money in the most unconstitutional and imaginative ways.

Take for example the $7.5 billion dollars the UniParty congress allocated to the installed Marxist President Joe Biden to build 500,000 Electric Vehicle Chargers (EVs) across our constitutional republic.

This borrowed money from Communist China and or printed in the Treasury Department was included in the worthless 2021 Infrastructure Investment and Jobs Act. No jobs were created and no infrastructure has been built.

The only President and Congress in our history that actually funded any worthwhile infrastructure was under President Eisenhower with the freeways and interstates he signed off on. This significantly helped national security and grew our free market capitalist economy. These freeways and interstates have already paid for themselves.

But let’s review the EV debacle. First of all nobody is buying electric cars in large enough numbers to support 500,000 tax payer funded EV chargers in the USA.

The exception for EVs is probably in European socialist countries currently being overran with Muslims whose Muslim leadership won’t even let women drive a gasoline powered vehicle let alone an EV.

Out of this $7.5 billion dollars borrowed from Communist China and or printed by the U.S. Treasury Department (contributing to our economic destruction via massive inflation) only $2 billion has been redistributed and accepted by two out of the fifty states. (Ohio and Pennsylvania)

The other forty eight states have not submitted requests or proposals for this unconstitutional redistribution of our tax dollars due to lack of demand.

I’m surprised communist controlled California led by Marxist Governor Newsom and Communist controlled New York State did not jump on this free cash.

Not a single operational EV charger has been built with this borrowed money from Communist China.

So the question is what happened to all those billions of dollars ? It’s your money ladies and gentlemen.

These kind of expenditures from the Treasury Department is driving inflation way beyond our republics ability to handle.

Biden’s Communist answer was the inflation reduction act and massive tax increases. This included a budget proposal that would drive our republics deficit from $34 trillion up to $52 trillion dollars.

Also, early in 2022 Joe Biden’s Environmental Protection Agency (EPA) unconstitutionally and illegally mandated (in violation of the US commerce clause of the U.S. constitution) that half of all vehicles sold in the USA by 2030 must be electric.

The EPA has no such authority to make this a mandatory requirement in a free market capitalist economy. Zero authority. None.

The American people make this decision by their freedom of choice not a communist ran EPA bureaucracy funded by us tax payers.

Welcome to Joe Biden’s Marxist tyrannical utopia using your hard earned tax payer money on the congressional roulette wheel of inflation and economic destruction.

Be prepared for more future losses to our republic by these Communists.

Don’t forget the Communist Obama – Solyndra solar panel failure with a $500 million tax payer loss in 2005 which is still being paid back to communist Chinese plus interest.

This unconstitutional economic insanity falls squarely on the shoulders of the socialist Republican and Communist Democrat controlled UniParty congress who approved it.

These Republican in Name Only (RINO) socialists are holding our tax payers arms behind our backs while the Communist democrats steal our wallets.

If you are still a member of the Republican Party I send you my deepest condolences.

©2023. Geoff Ross. All rights reserved.

RELATED ARTICLE: DOT Invests $100 Mil to Help Disadvantaged Communities by Fixing Broken EV Chargers

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U.S. Housing Market under an Intentional Marxist Collapse

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By Geoff Ross

The Communist Biden administration working closely with uniparty Socialist (Republican in Name Only) Todd Young from Indiana and Communist Democrat Ben Cardin from Maryland have devised a plan to redistribute your hard earned tax money and give it away to hundreds of thousands of households to help them buy a new home.

The real question should be why can’t Americans afford a new home anymore?

The real question should be why is our economy in the economic septic tank?

Why is the Republican controlled congress still spending us into economic oblivion?

Why are we printing dollars and flooding our economy with this soon to be worthless currency?

These actions by the uniparty Congress have driven up inflation thus increasing the value of homes exponentially.

Then the Marxist led Federal Reserve step in and intentionally force interest rates to go up to artificially control inflation which in turn raises the bar beyond the reach of many Americans who get priced out of the once affordable housing market.

It is not the governments job to reduce housing costs, it’s not the governments job to increase the supply of affordable homes and mitigate the rising expenses of paying for a house.

The Marxist Biden administration has stolen this home ownership opportunity from Americans by its incompetent economic decisions and it’s now only a few can achieve this dream.

Biden’s solution is being the hero to buy votes using the redistribution of our hard earned tax dollars to pay for this insane idea. Pure Communist idealism.

Affordable home ownership is the job of the free markets with a congress that can create a balanced budget and eliminate the fraud waste and abuse of our tax money.

The current housing market is flopping around and slowing dying like a goldfish on the dining room table after it inadvertently jumped out of its bowl.

The Marxist Federal Reserve has viciously raised interest rates burying our economic growth as is evident by the historical data showing it’s the worst housing market since the 1980s.

Mortgage rates have not been this high in twenty years and home prices have jumped resulting in a rapid decrease in supply of homes.

The government response is not to cut the insane wasteful spending, they continue to flood our economy with devalued dollars, they won’t cut interest rates. It’s an intentional assault on our economy my opinion.

The uniparty useless Congress working with Biden instead print or borrow more money from Communist Chinese for unconstitutional redistribution of your declining and potential worthless dollars.

The Communists in the White House stated it was trying to reduce costs for first-time buyers through the the Federal Housing Administration program. Somebody in congress tell them “It’s not their job”!

The best thing the Marxist Biden Administration and the socialist Republican controlled uniparty congress can do is balance the federal budget and reign in wasteful spending. Obviously the Congressional pigs with their snouts in the tax payer trough will not do the right thing at this juncture.

The do nothing Republican controlled Congress should defund and eliminate useless Federal departments like the Department of Education and Labor and Commerce as a start.

They should totally defund the Communist inspired Green New Deal and let the free market capitalists and entrepreneurs who built this country restore confidence once again in the once booming financial sound housing market.

©2023. Geoff Ross. All rights reserved.

RELATED ARTICLES:

Net Zero Housing: The Dark Side of ‘Smart’ Living and Personal Autonomy

The Fed Is ‘Chasing Its Own Tail’ On Inflation, And The Housing Market Is Paying The Price, Expert Says

There’s an Easy Fix That Would Solve Our Housing Crisis: Light Touch Density

Hunter Biden Indicted On 9 Tax-Related Charges In California thumbnail

Hunter Biden Indicted On 9 Tax-Related Charges In California

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By The Daily Caller

Hunter Biden, the son of President Joe Biden, is facing new criminal charges, according to a criminal indictment in the Central District of California.

A federal grand jury in California indicted Hunter Biden on nine counts related to his alleged failure to pay over $1 million worth of taxes over a four year period. The younger Biden hauled in more than $7 million in total gross income from foreign business dealings involving Ukrainian, Romanian and Chinese entities, the indictment lays out.

READ THE FULL INDICTMENT:

“At times relevant to this Indictment, the Defendant served on the board of a Ukrainian industrial conglomerate and a Chinese private equity fund. He negotiated and executed contracts and agreements for business and legal services that paid millions of dollars of compensation to him and/or his domestic corporations, Owasco, PC and Owasco, LLC,” the indictment reads.

“The Defendant engaged in a four-year scheme to not pay at least $1.4 million in self-assessed federal taxes he owed for tax years 2016 through 2019, from in or about January 2017 through in or about October 15, 2020, and to evade the assessment of taxes for tax year 2018 when he filed false returns in or about February 2020,” the indictment adds.

Hunter Biden is being charged with three felonies and six misdemeanors including failure to pay taxes and failure to file taxes. The indictment proceeds to lay out Hunter Biden’s business dealings with Ukrainian energy firm Burisma Holdings, Chinese infrastructure company CEFC and a Romanian oligarch previously thought to be Gabriel Popoviciu.

The evidence contained in the indictment related to Hunter Biden’s foreign business dealings was previously disclosed by House Oversight Committee lawmakers and IRS whistleblowers Gary Shapley and Joseph Ziegler. Bank records released by the Oversight Committee beginning in March show the payments to Hunter Biden and his business associates from foreign entities exceeded $24 million.

Both IRS whistleblowers came forward to the House Ways and Means Committee with allegations the Department of Justice (DOJ) gave Hunter Biden special treatment during the criminal investigation. In a statement released Thursday evening, Shapley and Ziegler said they were vindicated by the new indictment.

The fresh indictment provides details on Hunter Biden’s book deal for his memoir and expenses paid by his “Personal Friend” adding up to over $1 million. The third party financier was identified by Ziegler as Hollywood attorney Kevin Morris, who is believed to have paid roughly $2 million of Hunter Biden’s tax burdens.

Hunter Biden spent more than $4 million during the 2016-19 time period on a lavish lifestyle featuring drugs, prostitutes, girlfriends, luxury vehicles and other expensive goods, the indictment shows on page 13. Even after he became sober, Biden still failed to pay his overdue taxes and spent large sums of money to maintain his high powered lifestyle, according to the indictment.

“Notably, in 2020, well after he had regained his sobriety, and when he finally filed his outstanding 2016, 2017, and 2018 Forms 1040, the Defendant did not direct any payments toward his tax liabilities for each of those years. At the same time, the Defendant spent large sums to maintain his lifestyle from January through October 15, 2020,” the indictment asserts.

He spent over $600,000 on payments to various women and over $180,000 on adult entertainment. His rehab stint set him back around $70,000 and his spending on clothing and accessories approached $400,000, expenses from his Owasco P.C. bank account show.

Special counsel David Weiss had been investigating Hunter Biden’s taxes with help from a California grand jury. Biden has lived in the Los Angeles, California, metropolitan area since 2018, the new indictment says.

Court documents were not initially publicized when the news of Hunter Biden’s criminal charges was reported by multiple outlets. CNN first reported the federal charges against Hunter Biden were imminent, citing people briefed on the matter.

A spokesperson for Weiss declined comment to Fox News and a White House spokesperson declined to comment to NBC News. Hunter Biden’s defense attorney did not immediately respond to a request for comment.

BREAKING: DOJ files new criminal charges against Hunter Biden. SCOOP from @evanperez. More on @cnn momentarily

— Paula Reid (@PaulaReidCNN) December 8, 2023

Hunter Biden was indicted in September on three federal gun charges, to which he pleaded not guilty at an October arraignment in Delaware.

Biden-appointed U.S. Attorney for the Central District of California E. Martin Estrada previously refused to cooperate with Weiss on the Hunter Biden case, both men confirmed when they testified before the House Judiciary Committee, according to transcripts reviewed by the Daily Caller. Estrada’s conduct was first brought to light by the IRS whistleblowers.

In August, Weiss withdrew previously filed Delaware tax charges against Hunter Biden in order to prosecute him in California or the District of Columbia. Attorney General Merrick Garland appointed Weiss special counsel in August following the collapse of Hunter Biden’s guilty plea deal for the two Delaware tax charges and a pretrial diversion agreement for a felony gun charge.

U.S. District Court Judge for the District of Delaware Maryellen Noreika derailed the plea deal when she discovered a prosecutorial immunity provision inside of the pretrial diversion agreement. DOJ prosecutor Leo Wise admitted to Noreika the immunity clause had no precedent.

“Two brave IRS whistleblowers, Gary Shapley and Joseph Ziegler, placed their careers on the line to blow the whistle on misconduct and politicization in the Hunter Biden criminal investigation,” House Oversight Committee Chairman James Comer said in a press release.

“The Department of Justice got caught in its attempt to give Hunter Biden an unprecedented sweetheart plea deal and today’s charges filed against Hunter Biden are the result of Mr. Shapley and Mr. Ziegler’s efforts to ensure all Americans are treated equally under the law. Every American should applaud these men for their courage to expose the truth.”

AUTHOR

JAMES LYNCH

Investigative reporter. James Lynch can be reached on Twitter @jameslynch32.

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James Comer, Jim Jordan Threaten Hunter Biden With Contempt Of Congress

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‘He’s Going To Plead The Fifth’: Ex-US Attorney Says Hunter Biden Indictment Could Sink Deposition, Protect Joe Biden

Jonathan Turley Says New Hunter Indictment ‘Shatters Years Of Denials’ About Biden Business Dealings

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

Hamas Terrorists Getting ‘Lifetime Pensions’ Funded with U.S. Dollars thumbnail

Hamas Terrorists Getting ‘Lifetime Pensions’ Funded with U.S. Dollars

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By The Geller Report

In addition to the untold wealth the Biden regime bestows on Palestinians terrorist groups,  the Biden regime gave billions to Iran who funds Hamas and Hezb’allah.

Mat Staver, Liberty Counsel: “The Palestinian Authority (PA) uses ‘humanitarian aid’ to give lifetime pensions to the families of terrorists who successfully kill Israeli Jews. In September 2023 alone, the PA paid out 25 million dollars in “Pay to Slay” terror pensions — lifetime monthly payments to Palestinians or their families who have killed Jews. As of the end of October, those monthly payments have risen to 27 million, thanks to the rash of terrorists who managed to kill 1,400 Jews on October 7. That number will grow. Now Joe Biden wants to give the PA 100 million dollars MORE, effectively funding “pay to slay” pensions for each of the October 7 terrorists who succeeded in killing more Jews in a single day than any other since the Holocaust.”

PA will pay released terrorists 19,500 shekels a month for life

By: Itamar Marcus  | 

Nine of the first 78 terrorists that Israel released in the exchange deal with Hamas for Israeli hostages have served more than 5 years in Israeli prison. PA law grants every terrorist prisoner a monthly salary from the day of arrest until the day of release, with the salary rising the longer they’re in prison. For terrorists who are imprisoned for more than five years, the PA continues to pay their final monthly prison salary for life.

The PA will be paying 4 of the released terrorists 2,000 shekels each month for life, while the 5 who are Jerusalem residents will receive a bonus of 300 shekels a month and thus a total of 2,300 shekels a month. These 9 released terrorists will be receiving a total of 19,500 shekels each month for life from the PA.

The Palestinian Authority has been paying over 300 million dollars a year in monthly salaries to terrorist prisoners and in monthly allowances to families of dead terrorists. Since October 7th, Israel has arrested thousands of terrorists, 2,000 in Judea and Samaria alone, and thousands more in southern Israel and the Gaza Strip, in addition to the thousands of terrorists who have been killed. All of these imprisoned terrorists and the families of the dead terrorists will be receiving monthly rewards, in the PA program known as Pay-for-Slay, as soon as the Palestinian Authority can finish the bureaucracy.

Palestinian Media Watch has been alerting the donor countries since 2011 that they are either directly funding or facilitating terror rewards, which is both immoral and illegal under their own laws. Now that the PA will have even greater monthly expenses to reward all these thousands of terrorists and their families, the US, EU, Norway, and other donor countries should be expecting the PA to beg for even more money, now that thousands more terrorists are added to their monthly payroll.

Will the donor countries increase their funding to facilitate the extra terror awards?
PMW will be following.

The following are the released terrorists who served more than five years in prison and will receive monthly salaries for life:

Maysoun Musa – Palestinian terrorist who stabbed and seriously wounded a 20-year-old female soldier at the Bethlehem checkpoint in 2015. Under interrogation by the Israeli Security Agency she admitted her goal was to murder a soldier. She was sentenced to 15 years in prison before being released after 8 years in prison as part of a terrorist-prisoner for Israeli-hostage exchange deal on Nov. 24, 2023, between Israel and Hamas in which Israel agreed to release 150 terrorist prisoners in exchange for 50 Israeli hostages.

Shurouq Dweiyat – 18-year-old Palestinian terrorist and PFLP member who stabbed and wounded an Israeli civilian in Jerusalem’s Old City on Oct. 6, 2015. She was serving 16 years in prison before being released after 8 years in prison. She was a resident of Jerusalem’s Sur Baher neighborhood.

Aisha Afghani – Palestinian terrorist attempted to stab Israelis in Jerusalem’s Old City in 2016. She was serving 14 years in prison before being released after 7 years in prison. She was a resident of Jerusalem’s Silwan neighborhood.

Malaq Suleiman – 16-year-old Palestinian terrorist and Islamic Jihad member who was convicted of attempted murder in February 2016. She was serving 9 years in prison before being released after 7 years.

Marah Al-Bakri – 16-year-old female Palestinian terrorist and Hamas member who stabbed an Israeli border policeman at a light rail station in Ammunition Hill in Jerusalem on Oct. 12, 2015. Al-Bakri was shot and wounded by the policeman. She was serving 8.5 years in prison before being released after 8 years in prison.

Amani Al-Hashim – 31-year-old female Palestinian terrorist from East Jerusalem who attempted to run over Israeli security forces with her car at the Qalandiya checkpoint on Dec. 13, 2016. The forces opened fire, at which point she got out of the car with a knife and started shouting “Allahu Akbar” (“Allah is greatest”) before being arrested. Al-Hashim was serving a sentence of 10 years before being released after 7 years in prison.

Mahane Yehuda Market stabbing attack – two Palestinian female terrorists – Hadeel Awwad, 14, and her cousin Norhan Awwad, 16 – stabbed and wounded a 70-year-old man with scissors outside the Jerusalem Mahane Yehuda Market on Nov. 23, 2015. An Israeli policeman shot at the terrorists, who refused to drop their weapons. Hadeel was killed, and Norhan was wounded and taken for treatment in an Israeli hospital. An Israeli security officer was also wounded during the attack. The 70-year-old victim was later identified as a Palestinian from Bethlehem. Norhan Awwad was serving 13 years, later reduced to 10 years, before being released after 8 years in prison.

Israa Ja’abis – 31-year-old female Palestinian terrorist, resident of East Jerusalem, who carried out a car bomb attack near Ma’ale Adumim, a few kilometers east of Jerusalem, on Oct. 11, 2015. A policeman who noticed a suspicious vehicle signaled for the driver to stop, after which she drove closer to a group of police officers and detonated a gas balloon. One policeman suffered light injuries and Ja’abis was seriously injured. Ja’abis was serving a sentence of 11 years before being released after 8 years in prison.

Fadwa Hamada – 29-year-old female Palestinian terrorist from East Jerusalem who stabbed and wounded 2 Israeli civilians at the Damascus Gate of Jerusalem’s Old City on Aug. 12, 2017, before being arrested. Hamada was serving a sentence of 10 years before being released after 6 years in prison.

Read more.

AUTHOR

Pamela Geller

POSTS ON X:

“I am the granddaughter of Holocaust survivors. We are not going anywhere. Antisemitism and the support for terror should have no home at NYU or any other college campus. We made the promise of ‘never again.’ And never again is now.” – @nyuniversity student Bella Ingber. pic.twitter.com/I5XiYH6P4Q

— House Republicans (@HouseGOP) December 5, 2023

“I should not be here today…I should be taking in…my senior year of college…I am because 36 hours ago, I, along with most of campus, sought refuge in our rooms as classmates and professors chanted proudly for the genocide of Jews. ” – @Penn student Eyal Yakoby pic.twitter.com/fg4InUKj3Q

— House Republicans (@HouseGOP) December 5, 2023

RELATED ARTICLES:

Israel Begins Pumping Seawater to Flood Hamas’ Underworld Tunnel Network

“Jews Are Our Dogs, Our Dogs, Our Dogs” – Young Palestinian Girls Play Jew-Hating Game in Gaza

Islamic Scholar: “Allah Allows Muslim Men to Rape Non-Muslim women” “It Is Allowed in The Quran and Hadiths”

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

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United Nations Targets America’s Energy, Food and Freedom at COP28

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By Committee For A Constructive Tomorrow

“Make no mistake,” COP 28, the big UN climate conference in Dubai, is “targeted at America.”

That’s what CFACT’s Marc Morano told the Fox News audience, reporting live from Dubai.

Watch Marc’s hard-hitting Fox report now at CFACT’s Climate Depot.

Thanks to the best supporters any organization ever had, CFACT’s team of policy experts is hard at work advocating freedom in the halls of UN climate power.  We are right inside the belly of the beast.

As Marc reports, Vice President Kamala Harris just pledged $3 billion American dollars  to the UN’s “Green Climate Fund.” When precisely did Congress appropriate that?

John Kerry took the UN stage and promised to shut down ALL “unabated” American coal power plants.  Meanwhile China is building 182 new ones!

The UN is not only targeting American energy and tax dollars, they are coming for our food supply as well.  They aim to eliminate fifty percent of American meat consumption and ninety percent of American beef!

Policy analyst Peter Murphy, an essential member of CFACT’s team in Dubai, reports that COP 28 got off to an embarrassing start when conference chairman Sultan Al Jaber spoke hidden truths out loud, saying:

There is no science out there, or no scenario out there, that says that the phase-out of fossil fuel is what’s going to achieve 1.5°C” above preindustrial levels … Show me a roadmap for a phase-out of fossil fuels that will allow for sustainable socio-economic development, unless you want to take the world back into caves.

Thanks for the honesty, Sultan!  Let’s hope the UN does not succeed in silencing you before you reveal again.

Murphy further reports on another moment of revealing candor when Isabela Tagomori, who works on integrated assessment of carbon dioxide removal (CDR) at Utrecht University, told a UN panel that, it is essential to inject “fairness  principles” and “distributional justice” into climate policy.

“Murph” pulled no punches.  He took the microphone and told the speaker that her redistribution talk smacked of “Marxism.”

You should have seen how fast she backpedaled!

“Oh, no,” she countered, rather her organization’s effort was merely to collect “many different dimensions.”

When threatened with the facts, climate campaigners retreat to vague, opaque language.

Senior policy analyst Bonner Cohen explains at CFACT.org that COP 28 is… you guessed it… all about the money.

Who is lining up to pocket the billions of dollars Kamala Harris and the rest are throwing at climate?

Investors, dictators, and incredibly well-funded left-wing climate pressure groups.

For nature and people too.

TRANSCRIPT

Today I’m proud to announce a new 3 billion-dollar pledge to the green climate fund our collective pledge today to rapidly increase renewable energy also includes a call for all nations to stop building new on the bidding coal power plants plants.

Rachel: vice president Harris pushing the expensive green agenda on the world stage during the un annual climate action in dubai while climate envoy John Kerry promised to shut down all coal plants in America the announcement comes as the United Nations is expected to call on Americans to dramatically reduce their meat consumption in the name of climate change, Mark Morano joins us live from Dubai with more.

Rachel: I’m so glad you’re down there I’m always wondering what the control freaks in the billionaires are plotting over there what is happening what is the end goal.

Morano: A great question this conference in Dubai has more than doubled last year’s in Egypt the end goal is very simple to move more power to fewer and fewer people at the un as solon and the global corporations to billionaires of Bill Gates and King Charles and the corporations that are participating in the new form of fascism where the government cooperation to impose an agenda upon the world that we did not vote for. For Kamala Harris to give a speech saying $3 billion to the climate fund I was at the climate summit in South Africa and it was explained by its south African development the UN will take it and give it to the poor nation leaders who are best able to keep their citizens locked in poverty. Kamala Harris is saying we will get it to prevent development and fossil fuel energy in the poorest regions of the world they will give money to the leaders and they will ensure reelection of build monuments and keep the poor people from developing

This is immoral and the whole conference is gaining more control so we don’t have a say in our democracy anymore and how we liberal lives everything from freedom of movement to food to energy. Rachel: when you put it in those terms you’re right these poor countries need more energy so they can develop and have a better life and what they do is pay off the leaders to block them down and prevent development because they hate humans and they hate modern life and they want to lock us down John Kerry wants to shut down every coal plant in America how many coal plants have China open heaven into the open every month month.

One every two weeks one a week depending on the estimate China is not subject to the un climate regulations John Kerry says will shut down U.S. Domestic energy so we could be more reliant at the Biden Administration Venezuela, the Middle East China for rare-earth, I like to say China with rare-earth every EV battery half a million pounds of materials China is digging the earth nine brady bunch 1970 but fossil fuel intensive way and the earth they are exempt from this were offshore in our CO2 the U.S. has led the world in reducing CO2 admission if you care about that this conference make no mistake about it is the targeted at America you mentioned the meat-eating, the going for 90% reduction of meat eating in America that the new guidance coming from the un the same with the call with doctor guidance they’re coming after the American farmer Bill Gates said we don’t need farms he wants all meat grown in a lab from stem cells cal, she mixed with fetal blood put in a petri ds and printed on a 3d printer without eyes, bring this is frankenstein food that’s why they want to go after traditional meet.

Rachel: Bill Gates for example these are weirdos. No taking control of our food supply and energy in our currency those are the three things they need to control as a population and they’re doing it and you’re on the ground I only have a couple of sections you people know who you are and what you’re up to.

Had been arrested by climate cops at U.S. summit and people recognize me I may need a food taster to make sure I’m okay but the un does not like it and we have fun stuff planned while were here. Rachel: we will follow all of it my advice don’t eat the bugs. I know you want. Thank you so much we want more updates, come back to us.

Morano: Thank you Rachel.

RELATED ARTICLE: President Of UN Climate Confab Says There’s ‘No Science’ Behind Push To Phase Out Fossil Fuels

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BREAKING: Biden Climate Envoy John Kerry just called for the elimination of every single coal plant on earth (COP28)

36% of all global electricity is powered by coal. 20% of U.S. energy is coal. pic.twitter.com/lBSGR9AmFk

— End Wokeness (@EndWokeness) December 3, 2023

EDITORS NOTE: This CFACT column is republished with permission. ©All rights reserved.

Zelensky’s ‘Living the Good Life’ on American Taxpayer’s Money thumbnail

Zelensky’s ‘Living the Good Life’ on American Taxpayer’s Money

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By Royal A. Brown III

“Anyone who votes to fund Ukraine is funding the most corrupt money scheme of any foreign war in our country’s history. And forcing the American people to pay for it.” — Representative Marjorie Taylor Greene, Georgia’s 14th Congressional District. 

Over $100 billion of U.S. taxpayer money and/or Fed’s printing of money has already been sent to Ukraine WITH NO ACCOUNTABILITY and the OBAMA 3/Beijing Biden regime wants to send another $100 billion.

This should not stand.

This foreign policy is adding to our inflation with no assurances that ANY OF THIS MONEY is being spent for humanitarian purposes or effective warfighting and not by corrupt Ukrainian Oligarchs like Ukrainian President Zelensky (see below article) or portions laundered back to corrupt Democrats or even establishment, neocon, warmongering, globalist Republicans.

This needs to STOP NOW!

Same goes for billions of latest U.S. warfighting equipment and munitions depleting the US military supplies and wars stocks and reducing our own national security.

LUXE LIFE: Zelensky Just Made A $75 Million Purchase!

By Vince Quill | Nov 28, 2023

Before we begin, let me warn you that this story is based entirely on foreign and Russian sources. That being said, does anyone doubt that corrupt Zelensky stole the foreign aid money and siphoned it off to buy luxury goods?

It’s no secret that Ukraine is one of the most corrupt countries on the planet. Before the U.S. government backed Ukraine in a proxy war against Russia, high-level officials in Ukraine were under investigation for widespread corruption.

Now, we are seeing online sleuths and investigative journalists allege that Zelensky owns several luxury yachts valued at $75 million through surrogates—meaning he owns the yachts via proxy buyers beholden to him.

One individual explained:

“Zelensky bought two luxury yachts for $75 million through surrogates. 

From published memoranda of the Mediterranean Yacht Brokers Association (MYBA), it became known about the acquisition of two superyachts – the 46-meter “Lucky Me” and the 57-meter “My Legacy” by the Shefir brothers, who are close to Zelensky

The first yacht was purchased for $25 million on October 18, the second – for almost $50 million on October 25, Russian Telegram channels wrote, citing articles in foreign publications as evidence.

Boris and Sergey Shefir, on whose behalf the purchases were made, are close friends and confidants of the President of Ukraine

Together with them, Zelensky founded the Kvartal-95 studio in 2003 and appointed the younger of the brothers, Sergey Shefir, as the first assistant to the President of Ukraine shortly after he won the elections and became the President on May 20, 2019.

There is every reason to believe that and the two purchases were made in the name of Sergey and Boris Shefir in order to hide the real owner of the yachts – Vladimir Zelensky

They have used similar schemes before. Back in 2021, the International Center for the Study of Corruption and Organized Crime reported in its investigation that Sergey Shefir was involved in Zelensky’s so-called offshore network in the British Virgin Islands, Cyprus and Belize

This became known thanks to the disclosure by the international media of the so-called “Pandora File”. A month before he won the election, Zelensky transferred his offshore assets to the name of Sergey Shefir.

It appears that a similar impersonation scheme was used in the purchase of yachts.

Despite the attempts of Western countries to bring financial aid to Ukraine under control, this has not yet happened, as evidenced by the constant corruption scandals in the highest echelons of power in Ukraine.”

Zelensky bought two luxury yachts for $75 million through surrogates

From published memoranda of the Mediterranean Yacht Brokers Association (MYBA), it became known about the acquisition of two superyachts – the 46-meter “Lucky Me” and the 57-meter “My Legacy” by the Shefir… pic.twitter.com/2D6wMTEbqJ

— K Boz (@KBoz3) November 27, 2023

Read the full article.

©2023. Royal A. Brown III. All rights reserved.

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CROOKED JOE BIDEN’S BANANA REPUBLIC ENDS ON NOVEMBER 5th, 2024!!! pic.twitter.com/TVhhhY4mbx

— il Donaldo Trumpo (@PapiTrumpo) December 2, 2023

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U.S. To Hand Billions To United Nations’ ‘Green Climate Fund’ For Poor Countries

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By The Daily Caller

President Joe Biden’s administration is committing an additional $3 billion to help developing countries fight climate change, the White House announced Saturday.

The allotment will go toward the United Nations’ Green Climate Fund and will be pledged by Vice President Kamala Harris at the COP28 summit in Dubai, according to the White House. The U.S.’ pledge will bring the fund to its largest level so far, as other countries like France, the United Kingdom, Germany and Japan have already made similar commitments that totaled $9.3 billion, according to Bloomberg, who first reported the funding.

“Since day one, President Biden, Vice President Harris, and the entire Biden-Harris Administration have treated climate change as the existential threat of our time,” the White House’s announcement reads. “After spearheading the most significant climate action in history at home and leading efforts to tackle the climate crisis abroad, the United States heads into the 28th U.N. Climate Change Conference (COP28) in Dubai, United Arab Emirates (UAE) with unprecedented momentum.”

The U.S. reached $5.8 million in international funding geared toward curbing climate change in 2022, compared to $1.5 billion allotted during 2021, according to the State Department. The Biden administration will exceed $9.5 billion this year, and the president is already planning on topping $11 million in 2024.

Wealthy countries are supposed to commit $100 billion per year to help developing countries fight climate change, a pledge that began in 2020, according to Bloomberg.

The Biden administration’s commitment follows a trend of funding green energy initiatives the president has focused on during his tenure, including his signature climate law, the Inflation Reduction Act (IRA). The IRA approved $750 billion in new spending, $370 billion of which went toward Biden’s green energy initiatives aimed at curbing climate change.

The U.S. pledged over $17 million toward an international “climate reparations” fund at the summit on Thursday. The fund is also geared toward helping developing countries fight against the impacts of climate change.

AUTHOR

MARY LOU MASTERS

Contributor.

RELATED ARTICLE: Biden Admin Pledges Millions To International ‘Climate Reparations’ Fund

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

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Rethinking Economic Analysis and Strategy

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By Amil Imani

The latest data on the Consumer Price Index (CPI) reveals contrasting trends, raising questions about the effectiveness of recent Federal Reserve actions and the potential impact on everyday Americans. As of October 2023, the annual CPI rose 3.2%, primarily due to the “fortuitous plunge” in energy prices. However, a deeper dive into the numbers exposes an inflation rate curtailed by falling energy costs. The core CPI, which sidesteps the volatility of food and energy, remained resilient, clocking in at 4.0%.

The divergence between headline and core inflation rates underscores the interplay of economic factors.

The Federal Reserve’s aggressive interest rate hikes were expected to quell inflationary pressures. Yet, the core CPI’s stubborn rise suggests a more tempered impact on the segments excluded from the headline index. Why?

Firstly, the interest rate hikes have inadvertently tilted the playing field against renewable energy technologies. As interest rates climbed, the levelized cost of electricity (LCOE) for renewables soared, jeopardizing their competitiveness vis-à-vis fossil fuels. It is a cautionary tale, reminding us that monetary policy can have unintended consequences on our pursuit of a greener future.

Higher interest rates shouldn’t impede progress toward sustainable energy – yet here we are, grappling with the repercussions on our journey towards a low-carbon economy.

The elevated interest rates provided legacy oil and gas producers a lifeline. Shielded from the onslaught of low-carbon alternatives, these traditional energy giants could maximize revenues from their aging assets. A dichotomy emerges – the Fed’s pursuit of economic stability inadvertently bolsters sectors that contribute to environmental concerns.

Are we inadvertently sacrificing our environmental goals in the pursuit of economic stability?

Moreover, the core inflation rate is not a monolithic entity; it responds to a myriad of influences. Rising shelter prices, a crucial component, witnessed a slowdown in growth due to falling hotel prices, not reductions in rent or homeowners’ equivalent rent.

It’s not just about energy and food but also the intricacies of housing costs that shape the economic narrative.

As we contemplate the repercussions of interest rate hikes, we must recognize the tangible impacts on individuals and businesses. Homeowners with mortgages face increased monthly repayments, potentially inducing financial stress. Simultaneously, enterprises grappling with higher borrowing costs might curtail investments, a potential drag on economic growth.

How are these interest rate hikes affecting you? Is your monthly budget feeling the strain, or is your business reassessing growth plans?

Furthermore, the indirect effects on the economy are equally profound. Higher interest rates could set off a wage-price spiral – a cycle of rising wages leading to higher prices, fueling further wage increases. This self-fulfilling prophecy can spawn an inflationary loop that is challenging to break.

Are we on the brink of a wage-price spiral? The interconnectivity of wages and prices can have cascading effects on our economy.

Beyond these direct and indirect impacts, such hikes can reshape expectations about future inflation and interest rates. If core inflation remains high despite rate hikes, it could dampen investment sentiments, potentially slowing economic growth.

It’s imperative to question the unintended consequences of policy decisions and their ripple effects on our collective pursuit of a prosperous and sustainable future.

The 3.2% annual increase in the US Consumer Price Index (CPI) has profound implications for the economy and individual households. Let’s dissect the potential fallouts of this uptick:

As a measure of the average price change for a basket of goods and services, the CPI signifies an augmented cost of living. This escalation strains household budgets, particularly those reliant on fixed or low incomes. The 3.2% CPI increase amplifies the financial challenges faced by everyday consumers, raising pertinent questions about the adequacy of income levels in the face of rising prices.

How does the increased cost of living impact your household budget? Are you making ends meet with the recent price surge more challenging?

Historically, the Federal Reserve responds to mounting inflation by raising interest rates. While this strategy proves effective, it concurrently amplifies the cost of borrowing, potentially slowing economic growth. The ripple effect extends to the stock market, where higher interest rates render bonds more attractive than stocks, influencing investment decisions and market dynamics.

How are you adjusting your investment strategy in response to potential shifts in interest rates? Are higher borrowing costs affecting your financial decisions?

If wages fail to keep pace with inflation, workers’ real purchasing power diminishes, culminating in a decline in the standard of living. This scenario poses challenges for individual households and introduces the specter of social unrest and heightened pressure on employers to reassess wage structures.

Have you noticed a stagnation or decline in your real purchasing power? Are calls for wage increases becoming more pronounced in your workplace or community?

The interplay between businesses passing on higher costs to consumers and anticipating prolonged high inflation can set the stage for a self-sustaining cycle known as ‘sticky’ inflation. If left unchecked, this phenomenon poses a formidable challenge for central banks as breaking the cycle becomes increasingly complex.

Do you perceive a sustained trend of rising prices, and how does this impact your expectations for future economic conditions?

The upward push of inflation can translate into elevated costs for servicing government debt, particularly if it leads to higher interest rates. This potential uptick in government expenditure on debt servicing could exert budgetary pressures, prompting government service cutbacks or tax increases.

Are you concerned about the potential repercussions of increased government debt servicing costs on public services and taxes?

While a 3.2% increase in the CPI may not be deemed excessively high by historical standards, its repercussions resonate significantly throughout, and the role of interest rates cannot be underestimated. Their direct and indirect impact is felt across various sectors and individual lives, shaping the contours of our economic reality.

How confident are you in the economic outlook? Are you adjusting your investment strategy based on expectations of future inflation?

So, are we treading the right path, or do we need to recalibrate our economic strategies?

Biden Admin Proposes EV Subsidy Guidance That Leaves Door Open For Chinese Companies thumbnail

Biden Admin Proposes EV Subsidy Guidance That Leaves Door Open For Chinese Companies

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By The Daily Caller

The Biden administration proposed eligibility rules for electric vehicle (EV) tax credits on Friday that appear to leave the door open for Chinese suppliers, at least in the near-term.

The guidance, released by the Department of Energy (DOE) and the Treasury Department, is not yet final, but it will likely reduce the number of EV models that are eligible to receive the credit by boxing out battery components made by Chinese companies starting in 2024. However, the rules allow EVs built with the minerals extracted and processed by Chinese companies to be eligible for the credit until 2025.

BIDEN: “Auto companies have significantly ramped up their investments in electric vehicles.” pic.twitter.com/edVr2mblg9

— Daily Caller (@DailyCaller) September 1, 2023

The rules also cover Iran, North Korea and Russia in addition to China. The consumer tax credit, which is worth $7,500 for fully-qualified EVs, is a key policy tool for the administration’s EV push because it is designed to blunt the substantially higher costs of EVs relative to internal combustion engine vehicles.

The guidance also addresses eligibility limits for Chinese EV and battery companies doing business in the U.S. or in mineral-rich countries like Indonesia, where Chinese companies have a dominant position in the EV-related mineral supply chain. Those companies would be in compliance provided that less than 25% of their equity and board seats are controlled by Chinese entities.

China dominates the global supply chain for extraction and processing of the minerals that are essential for manufacturing EVs. In addition to the consumer tax credit, the administration has committed billions to subsidize retrofits for American manufacturing plants and the buildout of a national charging station network, as well as pursued several aggressive regulations to push the market toward widespread EV adoption over the coming years. The administration is aiming to have EVs make up 50% of all new vehicle sales by 2030.

The EV market is currently in a tenuous position, with manufacturers taking considerable losses, consumer demand cooling off and executives starting to back off of some near-term production targets.

It is currently unclear how many Chinese firms might be negatively impacted by these standards. The rules state that “licensing agreements or other contractual agreements may also create control,” indicating that technology licensing deals could be allowed under the standards.

The licensing aspect of the guidance could be a win for the automobile manufacturers; some companies had paused their efforts to strike licensing deals with Chinese firms until the rules came out, while others, like Ford, had pushed ahead with partnerships despite the lack of clarity, according to The Wall Street Journal.

The Treasury Department referred the Daily Caller News Foundation to the DOE, which did not respond immediately to a request for comment.

AUTHOR

NICK POPE

Contributor.

RELATED ARTICLE: Biden Poses In Electric Car That Has A Higher Carbon Footprint Than A Gas-Powered SUV

EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

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Social Security Overpays Billions Under Leadership of Racial Equity Activist

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By Judicial Watch

Under the leadership of a noted racial equity activist the Social Security Administration (SSA) has mistakenly overpaid beneficiaries tens of billions of dollars, including a 65% spike in overpayments in one year. In 2023 the agency with a stated mission of ensuring equity and accessibility by addressing systemic barriers to participation and a commitment to providing services to underserved communities made a whopping $23 billion in overpayments, according to its latest Agency Financial Report. The figure is a marked increase over the already stunning $11.1 billion in overpayments that SSA erroneously made in 2022.

SSA’s dreadful habit of overpaying billions in benefits goes back years as American taxpayers get stuck with the hefty price because most of the money is never recovered. In the last few years, the agency has doled out between $6 billion and $7 billion in new overpayments annually, the new report reveals. It shows that most of the 2022 overpayments, around $6.5 billion, occurred within the Old-Age Survivors and Disability Insurance (OASDI) programs which provide monthly benefits to qualified retired and disabled workers and their dependents and to survivors of insured workers. Eligibility and benefit amounts are determined by the worker’s contributions to Social Security. In prior years the problem was mainly in the Supplemental Security Income (SSI) program which helps low-income elderly and disabled adults as well as children. In 2022 SSI distributed north of $4.6 billion in overpayments.

At a congressional hearing earlier this year SSA Commissioner Kilolo Kijakazi told federal lawmakers that her agency is trying to recover the money by sending out millions of “overpayment notices” to those who erroneously got extra cash. Kijakazi said 1,028,389 people got the notices in 2022 and 986,912 in fiscal 2023, which ended in September. Kijakazi is a renowned racial equity proponent with a storied career of researching—and tackling—structural racism and the racial wealth gap in both government and high-profile nonprofits. She has served as co-chair of the National Advisory Council on Eliminating the Black-White Wealth Gap at the leftist Center for American Progress and on the Washington, D.C. Equitable Recovery Advisory Group. In mid-2021 President Joe Biden named Kijakazi acting SSA Commissioner after previously appointing her to a lower-level position of deputy commissioner for retirement and disability policy.

In the new agency financial report Kijakazi reveals that in 2023 she began to rebuild the SSA workforce by adding nearly 4,000 employees, yet problems persist. “We made progress toward eliminating our hearings backlog,” the commissioner writes in the report’s opening message, adding that “we ended FY 2023 with 321,819 cases pending, the lowest level since 2000.” The commissioner proceeds to highlight all the great things her agency has accomplished, including working to eliminate a backlog, reducing wait times for claims and improving organizational efficiency. “As good stewards of our programs, we strive to reduce improper payments and combat waste, fraud and abuse through our quality reviews, cost-effective program integrity work, and payment accuracy efforts.” Kijakazi ends her opening message by writing that there are “no material weaknesses in our internal controls.”

Nevertheless, buried deep in the exhaustive 216-page report the agency discloses the billions it has overpaid in the last few years despite establishing a special Improper Payment Prevention Team in 2019 tasked with developing strategies to determine the underlying cause of payment errors and developing corrective action plans. SSA issues over $1 trillion in benefit payments annually and preventing overpayments can be as simple as providing employees with a “comprehensive tool” when calculating benefits manually. In fact, SSA found that it could have avoided approximately 73,000 overpayments totaling more than $368 million in 2022 if it had furnished a “comprehensive tool” for employees to do their job correctly. “Preventing improper payments is more advantageous than recovering them after they are made because SSA does not have to expend additional resources to recover the overpayments…” the report states.

EDITORS NOTE: This Judicial Watch column is republished with permission. ©All rights reserved.

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VIDEO: Brace Yourself For What’s Coming in 2024

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By The Geller Report

Watch this clip of Victor Davis Hanson warning about what will happen during the 2024 election.

Transcript by Real Clear Politics:

VICTOR DAVIS HANSON: They look at Trump as a vampire and they put a stake in his heart but they’re afraid that that stake could come out any time. That he’s undying and they’re afraid of him. They are terrified of him.

They are terrified of him because they think he’s smarter this time and he has just cause to really get angry because of what they did to him. They can write all of The Atlantic Monthly and New Yorker clever, glib little essays about “Donald Trump is a threat to democracy,” and their little Molly Ball in Time Magazine essays how clever and brilliant they were with their cabals and conspiracies to get rid of him.

But deep down inside they know that if the right ever did that to Barack Obama or Joe Biden, they could have really made something out of the fact that Barack Obama had a hot mic expose where he told the president of Russia, “You tell Vladimir that I will be flexible on missile defense.” That’s the security of the United States of America. “If he gives me space in my last election.” Putin did do that. That’s an impeachable offense if a phone call to Ukraine is. So they understand that, the right could have done that to them, and they understand now the right probably will do that to them for their own survival, and they are scared.

They’re saying that if a MAGA candidate wins, and they win the House and Senate, they’re cooked because they’re going to get special prosecutors and go after the Biden family like they’ve never gone after anybody. And they’re going to find stuff because we know Joe is crooked. And then they’re going to go after [Attorney General] Merrick Garland and [Secretary of Homeland Security Alejandro ] Mayorkas. And they’re not going to stop. And that’s why they’re scared.

Everybody thinks the danger passed, they got what they wanted. No, no, no, you’re never going to see anything like what they’re going to do in 2024. All of this could have been reconciled, all they had to do was say Donald Trump should not be president if that’s what they believe, and we’re not going to do any lawfare or try to change the voting laws or pack the court, we’re not going to let in two states, we’re not going to try to abolish the Senate filibuster, we’re not going to try to change the voting ID laws, we’re just going to play under the rules we have, we don’t need $419 million by Mark Zuckerberg infused, we don’t need Sam Bankman-Fried, the crook, giving us $100 million, we’re not going to go under the radar with George Soros, we’re just going to show you, the American people how we think Donald Trump should not be president and we’ll have a fair election. They can’t do that, and they don’t trust themselves.

They think anybody in his right mind would close that border right now. Anybody in his right mind would recall all of those DAs that have destroyed these major cities. Anybody in his right mind would not beg the Saudis or the Venezuelans or the Russians or the Iranians to pump oil on the eve of a midterm, or pump the strategic petroleum reserve when you have so much natural gas in the U.S. Nobody in their right mind would do that. nd nobody in their right mind would ever just pull out of Afghanistan without warning just so Joe Biden can say that on the 20th anniversary of 9/11 or the original October invasion of Afghanistan, “I am the president that got us out.” Nobody would do that. And nobody would print $6 trillion when there’s pent-up demand post-Covid lockdown and there’s a supply chain disruption, and all that money without an audit or examination of who got it and why and how it was spent, but to inflate the economy and ruin it. Nobody would do that! So they know that and they know that they cant take that record to the American people.

They have a deductive mind because their ideologues, so they start with a premise that we’re for social justice and equity of result, so we’re morally superior and smarter than anybody else. And therefore we’re entitled to do things other people don’t do. So if, under the cover of Covid, and frightening people about Covid, we can change all the voting laws so that 30%, instead of voting absentee and early voting shall become 70% in most states, with very little audit of the level necessary to authenticate most ballots.

They just do all this stuff because they start with the deductive principle that, “We are better, this is the vision and thereof the following must happen.” And if things don’t fit the narrative, they go after the person, they censor. That’s how they work. And if you keep that in mind, than everybody makes sense.

What I’m saying is they go on from one lie to the next.

So everybody now knows that Donald Trump was impeached for things that Joe Biden got away with. OK. Everybody knows the laptop was authentic. Everybody knows that now. Everybody knows it would have made a big difference in that debate when Donald Trump said it was and Joe Biden said, “Oh, no, no, 51 authorities.” Everybody knows that Christopher Steele was a fraud, and especially Glenn Simpson. And that Hillary Clinton took over an old Never-Trump file and inflated it with a million bucks, got the FBI on it to hire Christopher Steele as a consultant-informant, hid her so-called legal expenses when she was fined and cited for that violation, through Perkins-Coie, Fusion GPS, and the DNC, and that file was fraudulent. It was made up! I said that the first time I saw it, everything in it was false. And yet we wasted 22 months and $40 million to know what was obvious. No apology, not only no apology but they got Pulitzer Prizes, some of these reporters.

Every time they give these monstrous lies, there’s no apology, and why should they? They’re just narratives, the’re post-modern Foucauldian, Lacan, Derrida narratives. They were useful. That’s what they look at. They were useful at the time, because when we went through the Mueller investigation, we crippled Donald Trump and therefore we were able to stop him. We had Anonymous, he was burrowed deep into the Homeland Security. He was a minor official, but we said he was one of the major operatives in the Trump administration, we lied. And then we printed his op-ed because it did what it was supposed to do, it weakened the right-wing agenda, so they think. And we got Admiral McRaven to come in and write an op-ed and said Trump should leave, the sooner the better. And then we got all of the four-star generals, McCaffrey, McCrystal, all of them, to say that Trump was Hitler, that he was Mussolini, that he was a liar, he was dangerous. We got Mark Milley to call the Chinese. We did all of this.

Yes, we do not want this to be done to us. If right now, a retired four-star general said Joe Biden is senile or dangerous of the Afghan thing is a disaster and he should be removed sooner or later, or his weaponization of the DOJ or FBI is Mussolini-like, or his hounding of individual people at school boards, or the way he conducted the Mar-a-Lago raid is Nazi-like — and I’m just quoting from what they’ve said — you know what’s going to happen to those people? You’re going to get [Attorney General] Merrick Garland to call up the Pentagon and they’re all going to be slapped with a Code 88, uniform code of military justice and court-martialed for disparaging the commander-in-chief. Trust me, they would in two seconds. And that’s not going to happen. They’re not going to say anything because they’re not equally going to apply their standards of correct behavior. And second, they’re going to say things about Donald Trump because they know the media and the Pentagon are not going to do anything to them. Now? They would destroy them if they ever criticized the commander-in-chief. They would go after them like you would not believe. And they know that.

We’re talking about, to sum up and end this, they understand deterrence. They are saying to the American people, “We are SOBs, we’re capable of everything and anything. Which side do you want to be on? Because if you’re on our side, you can do what Hunter Biden is, there are no consequences. If you want to say the voting machines are crooked like Jill Stein, go ahead, she said that in 2016. If you want to be Barbara Boxer and 32 Democrats and say you’re not going to certify the Ohio count and hold up the whole election, don’t worry, they did it in 2004. If you’re Al Gore and the attorney general says the votes have been counted and certified in Florida. Oh no, we’re going to sue and hold up the entire election for a month. And so, you can do all of that — as long as you’re on our side. But if you don’t do that, and you want to go on the other side, you’re in big trouble.”

That’s the message they’re trying to send, that’s what we’re really getting down to. Join the winning side. It’s sort of like in the Soviet Union, if you’re part of the nomenclature and you join the party, you’re exempt; if you’re not, well, you’re on your own.

People say to me: “You’re an academic and you spent your whole life, how did you deal with the 94% of all academics who are left-wing? … Why are they so left-wing? Do they have tenure? They’re exempt from worrying about losing their job? … Are they idealistic because they deal with words?”

I say, “No, they understand that if you want to get tenure and be promoted and liked, you parrot the majority. If it paid better, they’d be fascists.”

AUTHOR

Pamela Geller

EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.

GOP to Biden: No Ukraine Funding until Southern Border Is Secure thumbnail

GOP to Biden: No Ukraine Funding until Southern Border Is Secure

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By Family Research Council

As Congress kicked back into session following the Thanksgiving break, Republican lawmakers are making their position crystal clear regarding continued aid to Ukraine: if the Biden administration wants billions of additional dollars for Ukraine’s war against Russia, it must include legislation to provide solutions for the spiraling crisis at America’s southern border.

Since President Biden took office in January 2021, the explosion of illegal immigrants flooding America’s southern border has been unlike anything seen in the history of the U.S. According to U.S. Customs and Border Protection (CBP), the total number of apprehensions of illegal border crossers from 2021 through fiscal year 2023 is a staggering 8.3 million. This does not count the number of individuals who escaped capture (gotaways) during the same time period, which is estimated at 1.7 million. Therefore, the number of illegal border crossers during Biden’s presidency so far is over 10 million, a total that is larger than the individual populations of 41 states.

Notably, this number includes 1,586 known or suspected terrorists (KSTs) that were apprehended. In fiscal year 2023, 736 KSTs were captured, the largest number ever recorded in a single year. In addition, almost 50,000 criminal noncitizens were apprehended during fiscal year 2023, the largest total in history. Alarmingly, the 1.7 million gotaways over the last three years is only an estimate, so it is unknown how many more KSTs and other criminal noncitizens managed to escape detection and enter the U.S. interior.

The rate of illegal border crossers shows no signs of slowing. On Monday, Fox News reported on trains seen in Mexico heading to the U.S. with hundreds of migrants openly riding on the top of rail cars. In addition, CBP announced they would be temporarily shutting down vehicle processing at ports of entry in Texas and Arizona in order to redirect personnel to assist the U.S. Border Patrol in taking illegal border crossers into custody. Just last week, CBP reported 15,300 illegal crossings at the Tucson Sector in Arizona, the highest ever weekly total.

The crisis has led Republican lawmakers on Capitol Hill, including Speaker Mike Johnson (R-La.), to demand that the Biden White House do something to stem the tide as a condition of continuing to aid Ukraine in its war with Russia. On Monday, Senator Ron Johnson (R-Wis.) joined “Washington Watch with Tony Perkins” to discuss the situation.

“[We need more than] just legislative fixes, because we have a lawless administration,” he contended. “We have a president that wants an open border. And so we do need to change the law … [such as a] Return to Mexico policy … but we absolutely must make any funding to Ukraine contingent on actually securing the border. And that means benchmarks, metrics. The metric we should use is [the] number of migrants entering America, no matter how they come in, whether they’re encountered and processed and released, or whether we detect them as gotaways. … So, no [Ukraine] funding until you actually achieve those benchmarks on a month-by-month basis.”

Johnson went on to argue that the border crisis will not be solved simply by throwing more money at the issue, which the Biden administration has argued in favor of.

“[Q]uite honestly, providing this administration more money at the border, they’re just going to speed up the processing and dispersing,” he pointed out. “That’s been their whole goal. That’s why they think their policy is [a] success. [They say] we don’t have a crisis on the border. [They]’ve just gotten really efficient at encountering, processing, dispersing more than six million illegal immigrants into this country during their administration. So no, we don’t need [to give them more] money for the border.”

As to the question of whether at least 41 GOP senators will hold the line on the southern border crisis, Johnson expressed uncertainty, while also emphasizing the severity of the border issue.

“I’ve been making the point now for literally months that we need to stop taking whatever the Democrats want and finding just enough Republicans to join them to pass their priorities,” he underscored. “That has to end … particularly when you’re looking at an open border being a clear and present danger to America. Democrats [and] the president obviously want funding for Ukraine. A lot of Republicans do. I’m certainly sympathetic with the courageous people of Ukraine. But what must come first is our own homeland, our own national security. … So you’ve got to set your priorities, and our top priority has to be to secure that border. This is the only leverage we have with a lawless administration. We must use that leverage. And so all we have to do is make sure that 41 Republicans deny cloture on any bill that doesn’t include strong metrics that require … President Biden to secure the border [and] meet those metrics before money starts flowing.”

AUTHOR

Dan Hart

Dan Hart is senior editor at The Washington Stand.

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EDITORS NOTE: This Washington Stand column is republished with permission. All rights reserved. ©2023 Family Research Council.

The Washington Stand is Family Research Council’s outlet for news and commentary from a biblical worldview. The Washington Stand is based in Washington, D.C. and is published by FRC, whose mission is to advance faith, family, and freedom in public policy and the culture from a biblical worldview. We invite you to stand with us by partnering with FRC.

‘Super Expensive’: NRCC Drops Video Targeting Dems For Thanksgiving Food Price Hikes thumbnail

‘Super Expensive’: NRCC Drops Video Targeting Dems For Thanksgiving Food Price Hikes

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By The Daily Caller

The National Republican Congressional Committee (NRCC) released a video Wednesday, first shared with the Daily Caller News Foundation, seeking to hold Democrats responsible for Thanksgiving food price increases ahead of 2024.

The online advertisement, titled “Thanksgiving in Biden’s America” and launched by the House GOP’s campaign arm, depicts how some of the feast’s staples “are more expensive again this year,” arguing that “you can thank Democrats” for the price increases. Local prices for canned cranberries, canned pumpkins and russet potatoes are all up 60%, 30% and 14%, respectively, since 2022, according to the NRCC.

“It’s super expensive and I’m sharing the cost with some of my siblings,” a grocery shopper can be heard saying in the video.

“Definitely more conscious about what we purchase,” another said.

WATCH:

Inflation has spiked under the Biden administration, which has been attributed by critics to record levels of government spending approved by Democrats. Biden signed the American Rescue Plan in 2021 authorizing $1.9 trillion in new funding for COVID-19 relief, as well as the 2022 Inflation Reduction Act, which added $750 billion to the deficit and sought to advance the president’s green energy agenda.

“Unsatisfied with their war on Christmas, extreme Democrats launched a war on Thanksgiving. That’s why your Thanksgiving meal costs skyrocketed,” Ben Smith, NRCC rapid response director, told the DCNF in a statement.

While the average cost for a Thanksgiving table of ten has decreased by 4.5% since 2022, the price is still up by 25% at $61.17 since 2019, according to a report from the American Farm Bureau Federation released Nov. 15. Last year’s average Thanksgiving feast saw a record-high price of $64.05 compared to $48.91 from before the COVID-19 pandemic.

The NRCC is seeking to expand its majority in the House by targeting 37 seats held by vulnerable Democrats, including several that will now be open in 2024 following a wave of departures in Michigan, Virginia and California.

AUTHOR

MARY LOU MASTERS

Contributor.

POST ON X:

A Thanksgiving Message from Donald Trump pic.twitter.com/RROw0fPQSE

— Benny Johnson (@bennyjohnson) November 23, 2023

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

As Homeownership Costs Soar and Inflation Persists, Americans Sour on Biden’s Economy thumbnail

As Homeownership Costs Soar and Inflation Persists, Americans Sour on Biden’s Economy

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By Family Research Council

President Joe Biden turned 81 years old on Monday, and he was greeted with the lowest approval rating ever recorded by NBC News at 40%. While a large part of the number is due to Democrats’ disapproval of Biden’s handling of the Israel-Hamas conflict, it’s also likely a reflection of an economy that continues to struggle under the weight of persistent inflation, skyrocketing mortgage rates, a decline in full-time jobs, and ever-expanding federal debt.

The president has continued to tout “Bidenomics” in recent weeks, despite stating last week that he acknowledges there is a “disconnect between the numbers and how people feel about their place in the world right now.” Polls show that the American public is indeed not connecting with the White House’s messaging on a massive scale. A Fox News survey taken last week revealed that almost 80% of Americans rate the economy negatively.

As economists are pointing out, the raw economic numbers are a tremendous cause for concern. Joel Griffith, a research fellow in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation, joined “Washington Watch” last week to give a snapshot of where things currently stand.

“The typical family has lost more than $4,000 in real inflation, just adjusted income since President Biden took office, and that $4,000 pay cut is not even taking into account the rising home ownership costs,” he observed. “… [A]s [we]’ve seen real income decline, we’ve also seen credit card balances hit an all-time record $1 trillion. That’s about a $3,000 a family increase over the past year and a half, even as savings rates have plunged near all-time lows. Bidenomics has been a disaster for American families.”

Polls show that Americans are continuing to feel economic pain when they compare their income with prices. An Associated Press poll last month found that “three-quarters of respondents described the economy as poor,” with two-thirds saying their expenses have risen and only one quarter saying their income had also gone up. Compounding the problem is that the prices of many of the items that Americans most commonly buy have inflated substantially. Since February of 2020, the average price of a gallon of milk is up 23% ($3.93), a pound of ground beef is up 33% ($5.35), and a gallon of gas is up 53% ($3.78).

As Griffith went on to explain, one of the primary reasons for the decline in real income currently being experienced by Americans is the exploding cost of home ownership.

“If you’re looking to get a mortgage right now on a standard middle class home, that mortgage payment is costing you about $1,000 per month more than it would have cost you just a year and a half ago,” he noted. “… These are the worst economic conditions since the 1970s. … [T]hat was a time when we also had declining real income, and we also had sky high inflation. So arguably, it’s even worse now than it was then because it’s never been less affordable to buy a home. If you look to buy a home, it costs you about half of your income just to make the mortgage payments and the property taxes. It has never been this bad in terms of home ownership.”

Griffith further illustrated how reported job growth numbers are misleading. “[E]very month, the Biden administration loves to tout these jobs growth numbers. But what they fail to tell us is actually that over the last six months, we’ve actually seen a decline in full-time jobs. The only reason why we have seen the top line jobs growth numbers positive is because we’ve seen a surge in part-time jobs, meaning we have a lot more people today working double jobs just to pay the bills.”

As the national debt approaches $34 trillion, Griffith underscored how runaway federal spending is leading to unyielding inflation.

“[S]pending is out of control — it’s been out of control a long time,” he said. “The interest we’re paying right now on the federal debt is $10,000 per family per year. The amount of money that we’ve borrowed over the prior year is $25,000 per family of four. We cannot keep this up. A big part of the reason why families today are suffering from this inflation … is because for the last three years, we have spent wildly beyond our means, and we relied on our central bank to print the dollars to buy that debt.”

“We have to change this trajectory now, and I’m hopeful Congress will actually attempt to do so once they come back from Thanksgiving and Christmas break,” Griffith concluded.

AUTHOR

Dan Hart

Dan Hart is senior editor at The Washington Stand.

RELATED ARTICLE: We Need to Talk about Joe: Dems Show Growing Concern over Aged, Inept Biden

EDITORS NOTE: This Washington Stand column is republished with permission. All rights reserved. ©2023 Family Research Council.

The Washington Stand is Family Research Council’s outlet for news and commentary from a biblical worldview. The Washington Stand is based in Washington, D.C. and is published by FRC, whose mission is to advance faith, family, and freedom in public policy and the culture from a biblical worldview. We invite you to stand with us by partnering with FRC.

The Biden Years At A Glance thumbnail

The Biden Years At A Glance

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By Dr. Rich Swier

A reader mcmast sent us an email titled Biden POTUS years at a glance. Here’s what mcmast wrote about Joseph Robinette Biden, Jr.’s time in office to date.

Hasty withdrawal from Afghanistan which gave our enemies $80 billion of USA weapons and killed several American soldiers.

Highest inflation in 40 years.  Inflation increased 20% more than wages under Biden after wages increased 6% more than inflation under Trump.

Highest interest rates in a generation to fix the Biden inflation.

Employment participation rate is still less than under Trump as all jobs under Biden have been to replace jobs that were lost during COVID.

Loss of USA energy/oil independence that was gained under Trump.

Record number of regulations/laws reversed by the courts including:  DACA.  Affirmative action for college entrance.  Gun rights.  Cancelling student debt. Ignoring immigration laws.

Anti-Semitic demonstrations.  The Squad.

Record amount of illegal immigrants entering the USA.

Highest % of federal debt vs GDP in the history of the USA, including WWII.

Highest % of USA workforce employed as government employees in the history of the USA.

DoJ and FBI used as political weapons which set a precedence for future presidents.

Lies about his knowledge and participation in his son’s businesses.

Lies about his son’s laptop.

Thousands of classified documents kept in several unsecured locations for more than 20 years that he stole as a Senator and as a VP.

WOKE military and education system.

Cocaine found in the family portion of the White House.  No perpetrators identified by the FBI despite hundreds of cameras all over the White House.

What has Biden done well?

He left the Trump tax reforms in place.

He left the Trump tariffs on products from China in place.

He left the Trump USMCA in place.

He continued Trump spending on military.

If you disagree with any of these items please leave a comment below.

©2023. Dr. Rich Swier. All rights reserved.

The Fed Is ‘Chasing Its Own Tail’ On Inflation, And The Housing Market Is Paying The Price, Expert Says thumbnail

The Fed Is ‘Chasing Its Own Tail’ On Inflation, And The Housing Market Is Paying The Price, Expert Says

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By The Daily Caller

A guest essay published in The New York Times on Tuesday finally pointed a finger at a major culprit behind the housing crisis: The Federal Reserve.

The essay was written by Westwood Capital Investment bank’s managing partner Daniel Alpert, and detailed his take on the Fed’s “relentless attack on inflation” which he thinks is jeopardizing the market. Alpert decries the Fed’s decision to raise key federal funds policy interest rate to a level 22 times what it had been in the year and a half prior.

In normal times, this type of action would make mortgages insanely expensive for homeowners and make homes a lot cheaper, which limits spending power. But Alpert rightly notes these aren’t normal times. As mortgage rates skyrocketed from around three percent to the near eight percent it is now, it caused a catastrophe for the housing market.

Homeowners with good interest rates don’t want to move. And new buyers don’t want to get locked into an overpriced home at a high interest rate. So we have “both a mobility and an inventory crisis,” as Alpert put it.

Real Estate ‘Apocalypse’ Could Destroy American Economy, Midsize Cities | ⁦@DailyCaller⁩

Would you like to know about news literally years after everyone else? Then check out ⁦@washingtonpost⁩ lmfao cringe https://t.co/9v1OA7B5tY

— KAY SMYTHE (@KaySmythe) August 28, 2023

Housing has helped ensure the cost of just about everything has increased in 2023. “It is an irony that the Fed’s effort to tamp down inflation is causing an increase in core inflation measures,” Alpert notes. “And while the Fed is chasing its own tail, other avenues for controlling inflation have weakened considerably as a result of the unique circumstances surrounding the pandemic.”

The pandemic allowed for Americans to increase their savings rates. And many businesses were locked into cheap financing. So, what happens next?

Alpert thinks the Fed should declare victory and give up on its target of two percent. But the likelihood of that is low. Instead, Alpert wants the Fed to halt and then reverse policies related to mortgage securities and Quantitative Tightening. In layman’s terms, the Fed has to reduce the cost of mortgages or we’re doomed.

AUTHOR

KAY SMYTHE

News and commentary writer.

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EDITORS NOTE: This Daily Caller column is republished with permission. ©All rights reserved.

Obama’s Financial Legacy – A Shift from Bank Bailouts to Bail-Ins thumbnail

Obama’s Financial Legacy – A Shift from Bank Bailouts to Bail-Ins

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By Amil Imani

Bail-ins, they say, are like financial gymnastics gone wild – saving failing banks with the equivalent of a fiscal somersault.

According to Fortune magazine:

A bail-in is a form of financial relief for banks that are in danger of collapsing or going bankrupt. The relief comes from canceling some or all of the bank’s debt by reducing the value of bank shares, bonds, and uninsured deposits. (Note: The Federal Deposit Insurance Corporation (FDIC) insures most bank deposits up to $250,000 per individual.)

A bail-in is the opposite of a bailout. Instead of relief funds coming from outside (taxpayers), the funds come from inside (shareholders and depositors). Although bail-in relief has been implemented in Europe, it has never been used in the U.S.

Even so, bail-in relief was legalized in the U.S. with passage of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, following the 2007–2008 financial crisis in which banks deemed “too big to fail” were bailed out by the U.S. government. The specific section of Dodd-Frank that deals with bail-ins is Title II: Orderly Liquidation Authority (OLA).

It’s the anti-bailout, where instead of Uncle Sam swooping in with taxpayers’ cash, they tap into your wallet. Picture this: the bank’s equity gets trashed, and debts? They’re tossed into the financial blender, ready to absorb losses. What’s left? If you will, a bank trying to rise from the ashes, debtholders turning into equity holders, a financial phoenix.

Depositors, brace yourselves because a bail-in isn’t just a banking term for the elite. Your deposits might get a haircut – a trim that leaves you with less green. It’s like a cash version of a bad haircut; only you pay for it. Debt into equity, they say. So, if you had a loan, part of it might morph into a share in the bank. Congratulations, you’re a shareholder now. Dividends, risks, the whole shareholder shindig – welcome to the rollercoaster.

Oh, but there’s a VIP section in the world of deposits – a priority ranking. Some deposits get a golden ticket, a front-row seat in the insolvency show. If the bank goes belly-up, these priority deposits might have a better chance of survival. It’s like a financial Hunger Games, where your deposit category decides if you’ll survive.

And then there’s the tax twist. Bail-ins come with tax consequences, a fiscal aftershock. The government’s got its magnifying glass out, looking at how it affects shareholders and creditors. It’s like a financial detective story, trying to figure out if the tax system is playing favorites or just playing fair.

Now, rewind to the U.K., where Northern Rock pulled a spectacular bail-in move. A bank turned building society turned bank again; it danced on the edge during the 2008 financial crisis. The U.K. government swooped in, not with a bailout, but a bail-in. Debts to equity, customers turned shareholders – a financial plot twist.

So, here’s the burning question: How do you dodge the financial thunderstorms of a bail-in? Step one: decode the bail-in process. Know the drill because you’ll want to know how to stay afloat when the financial flood comes. Keep an eye on your bank’s health – financial checkups are crucial. Spot red flags, like a nosedive in assets or a debt rise. It’s like monitoring your bank’s vital signs; a healthy bank keeps the financial doctor away today.

Deposit insurance is like a financial superhero cape. In the UK, the FSCS rides to the rescue, covering deposits up to £85,000. It’s like a financial safety net, ready to catch you if your bank takes a leap off the fiscal cliff. Diversify, they say. Spread your financial wings across stocks, bonds, and real estate – a financial buffet to avoid putting all your eggs in one risky basket.

Consider this: if your bank’s on shaky ground, they might offer you a golden ticket to convert your debt into equity. It’s like a backstage pass to the financial show, but beware – being a shareholder isn’t all glitz and glamor. Risks, dividends, and the financial roller coaster are part of the deal.

Stay informed, they say. Know the financial rules of the game in your country. It’s like a financial playbook; knowing the rules helps you navigate the financial field. But remember, even with all these steps, there are no guarantees. Consulting a financial wizard might be your best bet when the financial storm hits.

And now, the origin story: the Dodd-Frank Act of 2010. A financial superhero born out of the 2008 financial crisis. It banned bank bailouts, opening the door to bail-ins. No more taxpayers’ cash rescues; instead, banks tap into the pockets of depositors and bondholders. It’s a financial power shift, a change in the financial rescue script. A shift from Uncle Sam’s wallet to yours because it’s survival of the financial fittest in the financial world. This monumental legislation, a brainchild of the Obama administration, marked a turning point in financial history, aiming to prevent a repeat of the financial calamities that led to the “Too Big To Fail” bailouts.

Thanks a lot, Obama.

©2023. Amil Imani. All rights reserved.

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