Unleash Prosperity Hotline #882

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Unleash Prosperity Hotline
Issue #882
10/23/2023
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1) Explaining the National Debt Versus the Debt Held By the Public

Some of our more observant readers were confused when we wrote last week that the national debt reached $24 trillion at the start of the year. "Wait!" Hotline readers responded. "The national debt is more than $33 trillion." We should have been more precise.

Yes, the national debt is now $33.6 trillion.

But we were referring to the “publicly held debt” – which is now roughly $26 trillion. Debt held by the public “consists of all national debt held by any person or entity that is not a U.S. federal government agency. The publicly held debt does NOT include the $7 trillion that the government owes to itself, such as money stolen by Congress from the Social Security system.

Since the federal government does not have a legal obligation to pay Social Security or other government benefits, these are not legal liabilities of the government. They are simply political promises to pay that may or may not be honored.

Either way you measure it, we’re in a world of hurt financially if we don't turn things around.

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2) New York Democrats Want to Ban ALL Gas Appliances

This from the New York Post over the Weekend:

Are the New York Democrats out of their minds? Yes.

As the Post story puts it: "A vocal group of legislators, doctors and scientists is imploring Gov. Kathy Hochul to pass the NY Home Energy Affordable Transition Act — just months after Hochul’s controversial move to ban gas stoves, furnaces and propane heating in new residential buildings in the Empire State."

The bill would ban nearly all gas appliances in homes and decommission all natural gas pipelines to transport gas into communities and homes.

Was this just pushed by a handful of AOC-type crazy lawmakers in Albany? $&%@ no. The bill passed the Senate 39-23 in the Senate – though the House has not acted yet.

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3) Biden Administration Has Sent Over $1 Billion in Aid To Palestinian Groups

This is an infuriating story from our friends at OpenTheBooks.com.

President Trump froze U.S. aid to Gaza in 2018, noting the U.S. had given hundreds of millions to Palestinian entities over the years even though the Palestinian Authority had a policy of paying pensions to the families of dead terrorists (“Pay to Slay”).

In 2021, President Biden restarted U.S. aid just over two months after he took office, even though Secretary of State Antony Blinken admitted there was “no guarantee” that the money would stay out of the hands of Hamas.

OpentheBooks.com has found that over $1 billion has been sent by Biden to the Palestinians. This doesn’t even include the $6 billion in Iranian funds that Biden wanted to unfreeze.

Then add to that the $3.5 billion fund Biden set up “for the benefit of the Afghan people,” in the wake of the botched U.S. withdrawal from Afghanistan. How much of that will benefit the Taliban regime’s campaign of terror?

Wait there's more. Open the Books has also identified more than $1.3 billion sent by federal agencies to Russian and Chinese entities in the last five years, including $2 million to the Wuhan Institute of Virology.

We have a solution: stop ALL foreign aid programs.

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4) Will Argentina Voters FINALLY Abandon Socialism?

After elections this weekend, Argentina is heading for a November 22 runoff to determine its next president.

In one corner is Javier Milei, a libertarian economist who wants to end 140% annual inflation by replacing the depreciating peso with the U.S. dollar. He displays a chainsaw at rallies to dramatize his desire to cut Argentina’s bloated welfare state.

In the other corner is Sergio Massa, the Economy Minister for the ruling Peronist party who is trying to buy votes with a pre-election spending spree. He is also trying to scare voters by warning public transit fares will have to go up by a factor of 12 if subsidies are ended.

THE BAD NEWS: Massa surprised observers by placing first and beating Millei 37% to 30% in Sunday’s voting, a reversal of his third-place August showing in an open primary. The good news: only 40% of Argentina’s voters cast ballots for left-wing candidates on Sunday. A total of 54% voted for Miller or conservative former Security Minister Patricia Bullrich. Another 6% voted for a regional centrist candidate.

Let's hope that Argentina finally rejects socialism in a few weeks. We will keep you posted.

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5) Bill Maher Nails the Hypocrisy Rampant on College Campuses

Liberal satirist Bill Maher was at his very best on his HBO show last Friday, skewering the psycho-Left indoctrination of students at elite universities like Harvard. One great line: they protest on the school grounds in solidarity with the Hamas savages, then stroll over to their ethics class. He urges parents not to send their kids to schools that claim to be elite – but in reality are just merely "expensive."

We do note that he saves his most personal attacks for Republican politicians who went to Ivy League schools – but the man knows his audience.

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6) The Headless House

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