Can This Man Save The Country From Biden Bankruptcy?

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Unleash Prosperity Hotline
Issue #858
09/18/2023
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1) Can This Man Save The Country From Biden Bankruptcy?

We’re going to see a big brawl starting this week over our debt-drenched budget and how to bring expenditures (now at more than $6 trillion budget) back down to earth. House Budget Committee Chair Jody Arrington is set to release a GOP fiscal plan that is a big course correction. It won’t solve our financial problems – but it will stop the bleeding. Arrington says that “the plan reaches a balanced budget in 10 years without a penny of new taxes. We grow the economy and cut spending.”

The Democrats and Biden are hysterical and threatening to shut down the government to keep the current runaway train of spending over the cliff.

To get a sense of the stakes here, consider that the fastest growing component of the budget over the next decade — other than the Green New Deal — is interest on the now $26 trillion national debt. The GDP is $27 trillion. In the weeks ahead the debt will be larger than our annual GDP. Interest payments, which will soon reach $1 trillion, will be like a Pacman swallowing up more and more of the entire budget.

Our ace economist EJ Antoni highlights a troubling trends. Almost $8 trillion of low-interest-rate debt will roll over at much higher rates. Instead of paying 2 and 3% interest on bonds, we will be paying close to 5% and maybe more if the Fed has to raise interest rates again. Biden has created a fine fiscal mess, and it will take years to get out of it. Arrington is right: let’s start right now.

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2) At Least We Aren’t Argentina – Yet
We don’t want to sound like alarmists, but the story above doesn’t have a happy ending if a course correction doesn’t happen soon.

Three charts summarizing the collapse of the Argentine economy under its leftist
/spendthrift government should be worrisome for the United States.

First, government spending in Argentina has soared from 21.8% of GDP in 2002 to a shocking 42.1% of GDP in 2020

Second, the currency in Argentina is in tragic collapse. It now takes 350 Argentine pesos to purchase a U.S. dollar. Ten years ago the exchange rate was 4 pesos for one dollar. The currency has lost 98% of its value. In 2021 alone the inflation rate rose more than 100% – meaning prices doubled.

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Argentina was once one of the richest nations in the world and now it is on track to become one of the poorest thanks to Peron-socialism – which has been a failure for half a century and is now the game plan of leftist president Alberto Hernandez.

Scary.

From Rich to Poor
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3) Bring Back To Kill a Mockingbird and Huckleberry Finn
We can’t help smirking that the people who invented and drenched America with “cancel culture” are now complaining that conservatives like Republican governors Ron DeSantis of Florida and Greg Abbott of Texas, as well as parent groups, are banning books from schools and libraries.

We’re, of course, against book banning. In many cases, conservatives ARE going too far in keeping books off library shelves. But you don’t have to be a prudish nun to be horrified by the LGBTQ “school” books containing explicit material.

We have here a clinical case of projection with the self-righteous left accusing the right of banning books – when, of course, that has long been their agenda. The idiocy started with “progressives” banishing Huckleberry Finn from high school curricula and from library bookshelves for being racist. Never mind that Ernest Hemingway once said: “All American literature derives from one book: Mark Twain’s Huckleberry Finn.” The left was evidently too stupid to even realize that the runaway slave, Jim, was the hero of the book.

Banned

Next came a ban on Steinbeck’s Of Mice and Men — a longtime favorite of high school students — for some language that was deemed offensive.

Banned
On these pages we’ve exposed the left’s cancel campaigns targeting Gone with the Wind, To Kill a Mockingbird, Charlie and the Chocolate Factory, and other literary classics that they can discover something on some page that could offend someone and sometimes. In several cases classics have been edited without permission – which seems a dangerous precedent for censorship.

Meanwhile, a reader sent us pictures from bootlegged copies of two banned Dr. Seuss books and drawings that are evidently inappropriate. We wonder if you can spot what is offensive in these pictures. We can’t. It’s like Where's Waldo.

Our point is that the left seems to think there is an equivalence to removing To Kill a Mockingbird from library shelves as opposed to books with explicit photos and descriptions of gay sex that rival what you might see in Hustler Magazine. We’re a family newsletter so we can’t show the pictures on these pages, but for those with inquiring minds, this article has some of the tamer graphic details: [link removed]

A letter in this weekend’s WSJ stated the point well:

“Some people want teens to read anything, especially sexually explicit material, and label as fascists any who seek to protect the innocence of youth by removing books that can’t even be read out loud in a school board meeting.”

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This is the very definition of cultural decay.
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4) California Democrats Plot To Make It Easier To Raise Taxes
Back in 1978, California voters shook the world with the tax cut heard around the world, when they adopted Proposition 13, which slashed California’s property taxes by 30% and required a two-thirds vote to raise most taxes. It saved the Golden State from tax ruin and paved the way for nearly three decades of wealth and prosperity.

But over the last fifteen years California has found sneaky new ways to continually raise taxes – and it now has the highest income, sales tax, and gas taxes in the country.

Naturally, progressives who dominate the legislature in Sacramento want more. They’re backing Constitutional Amendment 13 (ACA 13) to make it easier to raise local taxes.

Meanwhile, a competing citizen initiative called the Taxpayer Protection Act (TPA), would make it unconstitutional to raise taxes with a simple majority vote.

So the citizens of California will have two competing tax initiatives on the same ballot in 2024. If they choose poorly, California is going, going, gone.

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5) Biden Justice Department Sides With Russia’s Yandex Over America’s Google
We’re often asked if the Biden people are intentionally trying to undermine America, and it is getting harder all the time to say no.

The latest case in point. We pointed out last week that the Biden Administration’s sham lawsuit against Google went to federal court last week. Carl Szabo of NetChoice, who is covering the courtroom arguments day-to-day, reported that the DOJ complained that Google (an American company) is outcompeting Russia’s search engine Yandex in Russia.

What? That’s a bad thing?

Who’s side are they on?

As Szabo notes, “The Biden lawyers have slunk so low they are trying to tear down Google while they defend a search engine that is controlled/censored by Vladimir Putin.”

You can read more of this sordid story here: here: [link removed]

If you think we are exaggerating about how Yandex is simply a propaganda tool for Putin, here are two photos of a town in Ukraine that has been bombed continually by the Russian military. The image on the left is from Yandex and the image on the right is from Google.

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6) The New Civics 101

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