Unleash Prosperity Hotline #914

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Unleash Prosperity Hotline
Issue #914
12/12/2023
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1) Biden Plans To Eliminate 60% Of America’s Electric Power

Last week Biden announced that he is stopping production of all new coal plants and shutting down existing ones over the next decade. (Never mind that China is building dozens upon dozens of NEW coal plants.)

Then a few days later the Biden EPA announced new rules to “sharply reduce methane from the oil and natural gas industry.” The administration calls methane a “super-pollutant” that needs to be eliminated because it’s “many times more potent than carbon dioxide.” (That's a truly preposterous claim because the increased reliance on natural gas is a major reason that emissions of air pollutants have DECLINED dramatically in recent years and decades.)

Methane is a hydrocarbon that comes from natural gas. Eliminating methane is a de facto ban on natural gas power plants. Here is the sinister part of this story: Eliminating coal and natural gas plants will ravage America’s electric power capacity.

The table below shows that we currently get 60% of our electric power from coal and gas. So they want to eliminate over half of our electric power at the same time these dunces want to put the entire transportation system on the electric grid as we "transition" to all-electric vehicles. More demand and way less supply. This will cause routine brownouts and blackouts (as California has experienced). The climate fanatics will then call for strict rationing of electricity.

This sounds like a fictitious plot by Dr. Evil to bring the American economy to its knees. But it's not. This is the real-life scheme of the lunatics that are running our country right now. Scary.

https://nypost.com/2023/12/10/opinion/president-biden-just-pledged-to-shut-down-60-of-americas-electric-power/amp/

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2) California Broke; Florida Flush

This just in from Sacramento: California now faces a $68 Billion budget deficit. Wasn’t it just last year California Governor Gavin Newsom was boasting of a big budget surplus? What happened??

Meanwhile, on the other side of the country, Florida is projecting a $7 billion surplus. This, despite giving record amounts to the public schools, school choice programs, and for teacher raises.

http://edr.state.fl.us/Content/long-range-financial-outlook/3-Year-Plan_Fall-2023_2025-2027.pdf

The most amazing part of this story: Florida has no income, capital gains, dividends, or estate tax. California taxes these at as much as 13%. Even the sales tax is higher in California than in Florida. So is the gas tax.

What’s the lesson?

Well, first, Gavin Newsom is fiscally unfit to be president of the United States. Second, balancing the budget by continually raising taxes is a fool’s errand. The state with the highest taxes has the biggest deficit.

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3) Five Billion Bucks and Two Years Later... One Charging Station

One reason EV sales are so lousy is they require constant recharging of the batteries at charging stations, so your car doesn’t go kaput on a long drive. President Biden signed legislation more than two years ago that allocated $5 billion to the construction of these charging stations. Guess how many have been built? ONE! This black swan is apparently on the outskirts of Columbus, Ohio, if you want to go looking for it.

Media reports point to the delay of these chargers stemming from government red tape – which is ironic and no surprise. (Even liberal government bureaucrats can’t do away with red tape to support liberal objectives.) But the head of the Biden office managing the effort is trying to put a happy face on the glacial pace, telling Axios, “This is exactly the timeline I was expecting.”

But at this pace, it will take more than 50 years to get these charging stations installed - which will be a big problem that Biden wants half of all vehicles sold in the United States to be electric by 2029. And states like California have already mandated that ALL new cars sold by 2035 must have zero emissions.

What this means is that waiting to get juice for your battery is going to make the gas lines under Jimmy Carter look like a day at the park.

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4) Progressives Continue To Insist More Police, Rather Than Criminals, Are the Problem

Lately, progressive apologists have tried to claim that Democrats never advocated defunding police forces in the wake of the George Floyd riots in 2020. Sure. We noted the other day that earlier THIS YEAR, a three-fifths majority of House Democrats voted against a resolution that condemned efforts to defund or abolish the police.

Now the San Francisco Board of Supervisors is demonstrating just how resistant progressives are to adequately funding crime control. In a tie vote, they agreed to put a measure on the March 2024 ballot that promises to increase staffing levels for police—but only if significant tax increases are imposed.

San Francisco Mayor London Breed is aghast, noting the city is short 540 police officers: “It’s bad policy and wrong to ask voters to pay more in taxes for basic city services like public safety.”

Supervisor Ahsha Safaí proposed the tax hike at the behest of public employee unions that are insisting that no one in other city departments can be laid off in order to hire more police.

His colleague, Supervisor Dean Preston has an even crazier suggestion: “We have a very bloated police budget. All kinds of waste in the police department. I mean, I could cut a hundred million dollars out of the police department.”

We're all for cutting bloat and even police departments have it. But let's get real: police prevent crime. A Princeton study has found that more police helped robbery, larceny, and auto theft, “with suggestive evidence that police reduce murders as well.” Another 2019 study found that crime rose by 7% when police patrols in Houston declined by 10%.

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5) Price Controls Are Disturbingly Popular

If this CBS/YouGov poll is accurate, this is one of the most catastrophic failures of our education system.

They asked: "To try to control inflation, would you approve or disapprove of government price controls - that is, laws that limit the amount that companies can raise prices, or charge for products and services?" and got these results:

Every time price controls have been tried, the results have been some combinations of shortages, quality reductions, and black-market activity. Jimmy Carter's price controls on energy made the oil shortages worse and increased prices.

The age-split on the poll question suggests some older Americans still remember this – we hope younger Americans will not have to learn this lesson first-hand.

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6) Here's a Hot Christmas Gift For the Kids

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