Kamala is the $2.5 Trillion Woman

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Unleash Prosperity Hotline
Issue #1070
07/29/2024
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1) Kamala Is the $2.5 Trillion Woman

Most of the time vice presidents don't have a big impact on policy. It was FDR's first veep, John Nance Garner, who once famously declared the job "wasn't worth a warm bucket of spit."

But Kamala Harris has had a profound impact on Bidenomics. When she wasn't busy un-securing the border, she provided the tie-breaking vote for final passage in the Senate for both the $1.9 trillion America Rescue Plan in 2021 and the nearly $700 billion for the Green New Deal "Inflation Reduction Act."

Those massive spending bills detonated the biggest debt bomb in American history.

Last week, Kamala openly boasted about her pivotal role in passing Bidenomics - and we will take her word for it.

There's a good recap here of Kamala's impact on the federal budget in this Fox News clip this past weekend featuring Unleash Prosperity co-founder Stephen Moore.

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2) Who's the Real Tariff Man?
Another spate of news stories on Wall Street are predicting that Trump's tariff policies will drive inflation higher.

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We're not fans of tariffs, but if they are offset with other tax CUTS, as Trump has favored, or they force other nations to reduce their tariffs, then inflation would come down, not spiral up.

But amid all of this Trump tariff scare talk, the media never mentions that tariffs have been raised higher under Biden-Harris than under Trump, as this Tax Foundation chart shows:

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3) AP Test Scores Rise - Because the Tests Have Been Dumbed Down
The Wall Street Journal reported over the weekend that "more students are getting higher scores on Advanced Placement Tests." Scores have mysteriously "shifted upward."

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Unfortunately, it's not because the kids are getting smarter or the schools are performing better. They most certainly are NOT, on average. That's especially true because kids missed up to a year of in-class education during the school shutdowns during COVID in 2020.

Instead, the College Board says it is "recalibrating" the scores. One teacher in California told the WSJ that in recent years, 70% of his kids are passing the test versus about 40% in years past.

Dumbing down tests is hardly a solution to our growing education crisis in America.
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4) North Carolina's School Choice Hypocrite Roy Cooper Tops Kamala's VP Short List
National media outlets are now reporting that North Carolina Governor Roy Cooper has pushed his way to the top of Kamala Harris' list of possible VP running-mates.

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Yes, Cooper really is a team player. For the teachers' unions.

Just last week, Harris addressed Randi Weingarten's American Federation of Teachers convention, saying Randi ([link removed]) "has been an incredible friend and an advisor to the president and me."

When Cooper's NC state legislature passed an educational opportunity bill that would have given scholarships to tens of thousands of low-income students to attend schools of their choice, Cooper not only vetoed it, but he declared a “state of emergency” in a futile attempt to stop it.

Unleash Prosperity Now released an ad ([link removed]) last year during the debate that greatly embarrassed the governor. It pointed out that he sent his own daughter to the tony St. Mary's School in Raleigh, where the annual tuition is $32,550.

The legislature passed the bill, but teachers' unions took note that Cooper did everything short of standing in a schoolhouse door in his effort to block low-income children from choosing a better school.
Cooper believes that top private schools should only be available to rich kids - like his.

Cooper’s right that there is a “state of emergency” in education. It’s the failing public school monopoly that he and Kamala want to protect. They’re perfect for each other - but not for our kids.

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5) Trump Injects Bitcoin Into the Campaign Debate
Politicians and central bankers hate cryptocurrencies because it takes away their monopoly on the money supply. Biden’s SEC chair Gary Gentler has been an advocate of aggressive regulation of Bitcoin and all cryptos.

This is EXACTLY why we are supporters of Bitcoin, et al, because they decentralize and privatize economic power.

Donald Trump has taken a strong and right-thinking position of maintaining the independence of alternative currencies. He electrified thousands of attendees at the world's largest Bitcoin conference in Nashville on Saturday.

He pledged that should he win, his administration would retain all federal Bitcoin holdings, establishing a "strategic national Bitcoin stockpile,” which sounded a little like pandering to us. We're not sure why we need this "stockpile." We'd like to see a total government hands-off policy. Cryptos are risky - but so are pesos, euros, rubles, and sometimes even the dollar when we have an inflationist president like Biden, who has depreciated the currency by 20% in three years.

We were also delighted to hear Trump pledge to end Operation Choke Point 2.0, a heavy-handed program used by the Biden administration to pressure banks to close the accounts of legal businesses that Biden and Harris view as enemies - i.e. gun dealers, payday lenders, and cryptocurrency companies.

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Predictably, Kamala Harris has adopted an anti-Bitcoin stance.

Robert F. Kennedy Jr. is a supporter of cryptocurrencies. He correctly points out that Bitcoin and others “will inject a discipline into the printing of money that we do not have right now." Bingo.

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