Global Warming Rears Its Ugly Head

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Unleash Prosperity Hotline – Weekend Edition
Issue #934
01/12/2024, 01/13/2024, 01/14/2023
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1) Global Warming Rears Its Ugly Head
So much for the “warmest year on record” riff. Will this help stop the rise of the oceans? Just wondering.

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2) GA Governor Kemp on School Choice:
"This Is What We Were Elected to do"

Georgia was one of the few states that we and other education freedom advocates targeted for victory in 2023. But we fell short in the legislature. Fortunately, the prospects have vastly improved this year as the governor, Lt. Governor, and the legislative house leadership has in recent days made ringing endorsements for school choice.

The big news is that Georgia Governor Brian Kemp – who has been a tepid supporter of parental choice – made a thunderous appeal for school choice programs. He’s putting his legacy on the line to get parental choice and school competition this year. Here are a few excerpts from his State of the State speech:

As a small business owner for almost forty years now, I believe – like many of you – that competition and the free market drive innovation and, at the end of the day, result in a better product for the consumer. When it comes to education, the same principles hold true...

Our job is not to decide for each family, but to support them in making the best choice for their child. This week, as we begin the second year of another biennial of the General Assembly, I believe we have run out of “next years.”

I believe we can take an all-of-the-above approach to education… whether it’s public, private, homeschooling, charter, or otherwise. It is time for all parties to get around a table and agree on the best path forward to provide our kids the best educational opportunities we can – because that’s what we were elected to do.

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The stakes are mighty high. Georgia now spends nearly $17,000 per student (federal, state, and local revenue).

What do taxpayers get for this money? 70% of Georgia’s 8th graders do not achieve proficiency in math and reading on the 8th grade NAEP exams. Almost three of 10 of the state’s 1.7 million public school students are “chronically absent.”

There has to be a better way to educate kids with $20 billion.

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3) Under Biden It’s the Incredible Shrinking Pay Check
The media and other Democrats keep expressing confusion that people are so unappreciative of Bidenomics. But it's pretty simple: wages have not kept up with prices, in stark contrast to the Trump administration. The 3% gap between paychecks and inflation since Biden came to office is roughly a $2,100 real decline in purchasing power for average families. Thanks to our friend Andy Puzder for the latest update:

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4) For EVs – Disasters Come In Threes
Thursday was not a good day for Electric Vehicles.

Deloitte’s Global Automotive Consumer Study found: "Consumer interest in Internal Combustion Engines (ICE) vehicles is rebounding in some markets surveyed as affordability concerns continue to weigh heavily on forward intentions."

Specifically, in the United States, 67% of consumers said they prefer an internal combustion engine in their next vehicle purchase – up from 58% last year. Just 6% prefer pure EVs and 21% prefer hybrids:

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Then Hertz, the largest car rental company, announced it is holding a fire sale on 20,000 EVs that rental drivers don’t want to rent. The company took a $245 million loss on the EVs.

“The elevated costs associated with EVs persisted,” Hertz Chief Executive Officer Stephen Scherr said. “Efforts to wrestle it down proved to be more challenging.”

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Then to top it all off, an electric double-decker bus burst into flames in London causing rush hour chaos and what the Daily Mail called “an inferno.” It took three fire engines to put out the blaze.

There you have it folks: the cars and trucks of the future.

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5) Borrowing Was the Single Biggest Revenue Source for Uncle Sam Late Last Year
Here’s another depressing data point to confirm that we have a borrow-and-spend psychopath in the White House. In the last quarter of FY2023 — the most recent quarter for which we have complete data — the federal government took in more money from borrowing than any other revenue source. Here are the numbers as compiled by our friend Sven Larson, an economist who writes for the European Conservative:

4th Quarter fy2023 Revenues
* Federal borrowing $835 billion
* Personal income taxes: $521 billion
* Social insurance taxes: $430 billion
* Corporate income taxes: $113 billion
* Taxes on production and imports: $44 billion
* Other sources: $39.2 billion

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6) Bidenomics Is Working – Really

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