April 10, 2024
Permission to republish original opeds and cartoons granted.
Sticky inflation jumps to 3.5 percent annual in March amid jump in energy prices
By Robert Romano
Consumer inflation in the U.S. once again spiked upward to 3.5 percent over the last 12 months, or 0.4 percent the past month in March, according to the latest data from the Bureau of Labor Statistics.
The news comes as the Federal Reserve had been anticipating reducing the Federal Funds Rate this year as inflation had slowed down to 3.2 percent in February, but with the jump, the central bank might be putting those plans on hold.
Gasoline prices increased by 1.7 percent, although fuel oil was down 1.3 percent.
Electricity was up 0.9 percent, while piped gas service remained unchanged.
Other spikes came with apparel up 0.7 percent, transportation services up 1.5 percent and shelter up 0.4 percent and medical care services up 0.6 percent.
Of those, shelter is up 5.7 percent the past year, and transportation services are up a whopping 10.7 percent.
These were slightly offset by a 0.2 percent drop in new vehicles and a 1.1 percent drop in used cars and trucks.
All told, items minus food and energy are up 3.8 percent, meaning even as inflation has slowed down for food and energy — food is up 2.2 percent the past year and energy is up 2.1 percent — the prices for everything else are still moving northward.
Meaning, the inflation is sticky and may be reasserting itself. The previous high was 9.1 percent in June 2022 after almost $7 trillion was printed for Covid, and while we are nowhere near that, it appears the Fed’s hopes that inflation would return to its normal 2 percent without a recession have been dashed.
Usually, when inflation goes up like that, eventually the economy overheats and ultimately a recession happens, with unemployment going up.
President Joe Biden had been promising that inflation could be righted without a recession, too, calling the tradeoff between inflation and unemployment a “false” choice.
So far, however, the unemployment rate has only increased from its April 2023 low of 3.2 percent to its current rate of 3.8 percent, not enough to squelch the inflation, apparently.
Personal income hasn’t kept up either, only rising 16.7 percent since Feb. 2021, while consumer prices are up 18.45 percent since that time.
And now with inflation heating up again, it is possible the U.S. has already proceeded to the next business cycle, or is about to, taking inflation with it and crushing incomes even further. If there was a soft landing or if the recession was in fact averted, the question might be at what cost. Be careful what you wish for.
Robert Romano is the Vice President of Public Policy at Americans for Limited Government Foundation.
To view online: https://dailytorch.com/2024/04/sticky-inflation-jumps-to-3-5-percent-annual-in-march-amid-jump-in-energy-prices/
Is Immigration Chaos the Final Nail in the Coffin for Democrats? Swing Voters say Deport all Illegals
By Bill Wilson
A striking new NPR / Marist poll reveals swing voters who supported Joe Biden by wide margins in 2020 are retracting their votes, and the unsustainable crisis on the southern border is at the heart of this collapse in support.
The tide has turned on immigration politics in four short years, and a majority of Americans now see the border crisis as an issue that needs to be solved swiftly. The NPR poll reveals a majority of Americans have adopted a harsh deportation mindset, with the nation saying 51 percent to 48 percent that all illegals should be deported. This is a radical change in sentiment from just a few years ago, and speaks to voters’ growing distrust of an Open Borders agenda that imports cheap foreign labor at the expense of American citizens.
There are unsurprisingly broad partisan differences between those who adopt this hard-liner response to the immigration crisis and those who still claim illegal immigrants are a boon for the economy, but key groups of voters who supported Biden in 2020 agree that illegals must go. In fact, majorities of Gen Z and Millennial voters – groups which used to hold strong pro-immigrant views – as well as a plurality of independents and even Latinos say all illegal immigrants need to be deported.
A majority of Hispanics – 52 percent – and a majority of young voters – 52 percent – say all immigrants who came to the U.S. illegally should be deported according to the new poll. In addition, a majority of both independent men and women agree, with 58 percent of men and 53 percent of women concurring that all illegals should be deported.
Polling from the Economist / YouGov finds that immigration is the second most important issue to Americans after the economy, and Americans disapprove of Biden’s handling of immigration by a margin of two to one. In fact, Americans give Biden worse marks on his handling of the immigration crisis than they do on his handling of the economy.
Americans say 63 percent to 28 percent they disapprove of Biden’s handling of the immigration crisis – a 35-point-margin – while voters disapprove of Biden’s handling of the economy by a thirteen point-margin according to the poll.
Latinos disapprove of Biden’s handling of the immigration crisis at close to the same level as whites do, with 66 percent of Latinos and 67 percent of whites signaling their disapproval with Biden’s border crisis. Latinos disapprove of Biden’s handling of the border by an abysmal 43 percentage points – 66 percent to just 23 percent.
Young people disapprove of Biden’s handling of immigration by a 33-point margin, and independents disapprove by a 47-point-margin according to the poll.
These views are in-line with YouGov / CBS News polling from January which showed most Americans say the border issue is very serious, and nearly half say the border is in crisis. That poll also found dwindling support for allowing illegals to remain in the U.S., with a majority of Americans (57%) saying asylum seekers should either remain in Mexico and wait for a hearing or be deported permanently.
Voters in the January poll also held a distinctly negative view of immigration’s long-term impact on the country, with the public saying 48% to 22% that the influx of migrants will make society worse in the long term.
The globalist approach to immigration policy which relies on importing cheap foreign labor and using identity politics to buy votes is crashing down under the harsh reality of Biden’s border chaos. Pro-asylum seeker groups who originally supported the left’s Open Borders agenda are recognizing the economic and social consequences of a nation without law and order and demanding a harsh correction.
Young people, independents, and most notably Latinos are demanding immigration reform that puts the needs of American citizens first. The globalist left’s catastrophic economic policies are a key contributor to Biden’s plummeting support, but rampant illegal immigration and cheap foreign labor further destroy our economy. The left is on the wrong side of history with their reckless Open Borders agenda that puts citizens last, and Americans are waking up and demanding a course correction before it is too late.
Bill Wilson is the former president of Americans for Limited Government.
To view online: https://dailytorch.com/2024/04/is-immigration-chaos-the-final-nail-in-the-coffin-for-democrats-swing-voters-say-deport-all-illegals/
ALG urges passage of Biggs amendment prohibiting warrantless searches of U.S. persons’ communications
April 10, 2024, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging House passage of an amendment to the Foreign Intelligence Surveillance Act Section 702 reauthorization that “[p]rohibits warrantless searches of U.S. person communications in the FISA 702 database, with exceptions for imminent threats to life or bodily harm, consent searches, or known cybersecurity threat signatures”:
"The election interference by the Federal Bureau of Investigation during the fraudulent Russian collusion using the secret FISA Court demand real reforms. With FISA reauthorization now up for consideration, the House of Representatives will either make a stand in favor of America's Fourth Amendment protections against warrantless searches by supporting the Biggs amendment or they will fail to do their duty to uphold the Constitution. If they fail, it will be a stain on the body, where they chose purported security over our basic freedoms. Americans for Limited Government strongly urges House members to vote for the Biggs amendment to the FISA reform bill which disallows warrantless searches."
To view online: https://getliberty.org/2024/04/alg-urges-passage-of-biggs-amendment-prohibiting-warrantless-searches-of-u-s-persons-communications/