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Unleash Prosperity Hotline – Weekend Edition
Issue #1309
07/18/2025 – 07/20/2025
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1) House Zeroes Out the World Bank
And the news just keeps getting better. Our new hero is Rep. Mario Diaz-Balart chairman of the State and Foreign Operations Subcommittee of the House Appropriations Committee.
With a stroke of the pen's eraser this week, he has defunded one of the most corrupt, anti-growth and self-serving institutions on the planet: the World Bank. He also cut overall spending on agencies like the bloated State Department by about 20%.
There's never been any evidence that the globalists' piggy bank - i.e., World Bank lending - has increased living standards in poor countries. Under Biden, the Bank morphed into a climate change agency dedicated to lowering growth and stalling economic development, not advancing it.
We're working to ensure that the full House and Senate approve this plan pronto.
When that happens, maybe we can house the homeless in DC in the empty World Bank building.
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2) Three Million Health Care Double Dippers
This was quick work from the Trump administration.
Acting on new authority from the One Big Beautiful Bill, CMS has scanned the Medicaid rolls, and found that an astonishing 2.8 million people were enrolled in either Medicaid programs in multiple states or both Medicaid and an Obamacare exchange plan. Ending this double-dipping alone will save an estimated $14 billion per year.
Stay tuned for the Left and media to howl that this is a benefit cut and people will die.
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3) Trump to Let People Invest 401(k) Accounts in Private Equity
WSJ reports:
President Trump is expected to sign an executive order in the coming days designed to help make private-market investments more available to U.S. retirement plans, according to people familiar with the matter.
The order would instruct the Labor Department and the Securities and Exchange Commission to provide guidance to employers and plan administrators on including investments like private assets in 401(k) plans, the people said.
It makes sense to offer the same investment opportunities to mom and pop 401(k) investors that institutional funds have been using to beat public markets in recent years. Say hello to higher returns on your retirement accounts.
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4) Credit Card Price Controls Will Hurt, Not Help Retailers
Everyone loves credit and debit cards and Apple Pay, except retailers who pay a small interchange fee (about 2%) for this service that the banks and the credit card companies offer. The percentage of electronic payments at stores has doubled in just the last five years as we move toward a cashless society.
The merchants want Congress to set price controls on the credit card industry, and Senator Dick Durbin of Illinois has legislation that he's moving to do just that. As we've shown before, this will mean fewer lower income families will have access to credit cards.
The retailers should be careful of what they wish for. A recent survey asked Americans what would happen if they didn't have access to a credit card. Four of 10 respondents said they would spend less. So, how will that help retailers?
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5) RIP California High-Speed Rail
Congratulations to UP senior fellow Wendell Cox, who has been fighting this boondoggle since it was first proposed. Notice Trump is even borrowing our UP language of the "train to nowhere."
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6) The Democrat Frontrunner
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