View this email in your browser ([link removed])
[link removed]
Unleash Prosperity Hotline – Happy 4th of July
Issue #568
07/02/2022, 07/03/2022, 07/04/2022
New to the Hotline? Click ([link removed]) here ([link removed]) to subscribe–it's free. ([link removed])

1) Fight Inflation With Growth, Not Austerity

All across the political spectrum, nearly everyone has the story of how to fight inflation all wrong. Please read the Wall Street Journal piece yesterday by CTUP cofounders Arthur Laffer and Stephen Moore which argues that to fight inflation, we need growth, not a shrinkage of the economy.

[link removed] ([link removed])

With the right set of supply-side deregulatory and tax-cutting policies, inflation can be brought down without a loss of jobs or a recession (though Biden’s policies have already put us in a soft recession right now). The Fed and Larry Summers are wrong on this point.

This idea that reducing inflation will put more people in the unemployment lines is the old discredited theory of the “Phillips Curve.” Below we show the (in)famous original chart that gave birth to this idea of a trade-off between inflation and unemployment.

Here is the scatter plot for the last 40 years of unemployment and inflation.

Virtually no relationship.

Growth, jobs, and prosperity will bring down prices.

[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Ffight-inflation-with-growth-not-austerity%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Ffight-inflation-with-growth-not-austerity%2F)
[link removed] Forward ([link removed])
2) White House: High Gas Prices Necessary To Achieve “The Liberal World Order”
A hah!

Just as we suspected all along. White House chief economist Brian Deese admits to CNN that high gas prices are all part of the grand plan for a new world order.

Brian: we prefer the OLD world order with LOWER gas prices!

[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fwhite-house-high-gas-prices-necessary-to-achieve-the-liberal-world-order%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fwhite-house-high-gas-prices-necessary-to-achieve-the-liberal-world-order%2F)
[link removed] Forward ([link removed])
3) Arizona Goes All In On School Choice
We’ve been saying for many months that THIS is the school choice moment we’ve all been waiting for. So we are standing on our desks cheering that Arizona’s legislature has passed what might be the most ambitious school choice bill in American history. The bill will allow every one of the state’s 1.1 million students to take advantage of this $6,400 education scholarship to attend a school of their choice – public, private, religious, or charter.

Kudos to GOP Governor Doug Ducey who has pushed this agenda and promises to sign the bill into law.

[link removed]

The Empowerment Scholarship Account program (ESA) was first passed in 2011 but has been limited to 11,800 students – the children of military families, foster care kids, and Native American students on reservations. But now any parent will be empowered to spend ESA dollars on everything from tuition for a private school to tutoring to homeschooling materials.

The expanded ESA bill passed the House 31 to 26 and the Senate by 16 to 10.

GOP Rep. Jake Hoffman said the impetus for its passage came from the “woke agenda” of many public schools as well as parents learning during the pandemic how poor the quality of public education often is. “Public sentiment against public schools hasn’t been lower than it has been now,” Hoffman said. The state is using its budget surplus money thanks to billions of dollars from Uncle Sam to expand the program. So smart. So sweet!

Kudos to our friends at ALEC, who have pushed this bill for years.

[link removed]

[link removed]
[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Farizona-goes-all-in-on-school-choice%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Farizona-goes-all-in-on-school-choice%2F)
[link removed] Forward ([link removed])
4) Illinois Audit Finds 50%+ Fraud Rate In Pandemic Unemployment Assistance
Matt Weidinger of AEI dug into a little-noticed audit report in Illinois to find these shocking numbers:

The report by Illinois’ auditor general states that the Illinois agency, which administers both state and federal unemployment benefits, paid $3.6 billion in federal PUA benefits during state fiscal year 2021. The report describes “overpayments associated with ID theft and traditional fraud within the PUA program” as “unprecedented.” Specifically, the audit states that ID theft overpayments under the PUA program totaled over $1.8 billion—or 50.4 percent of the $3.6 billion in PUA payments.

Needless to say, a private company with fraud rates at even a fraction of those levels would be out of business.

This was the $600 per week unemployment benefit for the self-employed who "self-certified" that they lost income due to the pandemic. Every COVID spending program had an appalling fraud rate but unsurprisingly given its program design, this may have been the very worst. When these fraud rates were revealed to House Democrats, one Rep. was dismissive: “When you spend this amount of money that quickly, you’re going to have some fraud.”

“SOME” Congressman?

Democrats have resisted more audits and oversight of federal welfare programs. They even tried (but fortunately failed) to make this program permanent.

[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fillinois-audit-finds-50-fraud-rate-ii-pandemic-unemployment-assistance%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fillinois-audit-finds-50-fraud-rate-ii-pandemic-unemployment-assistance%2F)
[link removed] Forward ([link removed])
5) The Fed May Be Sending Us Into A Crash Landing
[link removed]

Our friend Rob Arnott, the chair of asset management firm Research Affiliates, believes “a recession may already be underway. Even if not, the Fed’s actions greatly increase the risk of a recession in the months ahead.”

Arnott quotes MIT economist Rudi Dornbusch, who in 1998 observed that “none of the post-war expansions died of natural causes, they were all murdered by the Fed.” He says the Fed’s attempt to slow the economy by ending its era of negative real interest rates will cause a severe economic downturn.

By ignoring inflation too long the Fed now faces triggering a deep recession.“Being late to the game increases the probability that the Fed overreacts, because it didn't act soon enough,” says Arnott. “This increases uncertainty and elevates the probability of a hard landing, which is what everybody wants to avoid. Hard landing means we go into a serious recession, like the one associated with the global financial crisis.”

[link removed]
[link removed] Share ([link removed])
[link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fthe-fed-may-be-sending-us-into-a-crash-landing%2F Tweet ([link removed]: https%3A%2F%2Fcommitteetounleashprosperity.com%2Fhotlines%2Fthe-fed-may-be-sending-us-into-a-crash-landing%2F)
[link removed] Forward ([link removed])
6) It’s Not Easy Being A Man

[link removed]

============================================================

Know anyone else who would appreciate the Hotline? Please direct them to subscribe at: ** [link removed] ([link removed])

Have an idea for an item that should be in our newsletter? Send us any charts, statistics, heroes/villains, or humor that you’d like to see featured!
** Twitter ([link removed])
** Facebook ([link removed])
** [link removed] ([link removed])
Copyright © *2022* *Committee To Unleash Prosperity*, All rights reserved.

This email was sent to [email protected] (mailto:[email protected])
why did I get this? ([link removed]) unsubscribe from this list ([link removed]) update subscription preferences ([link removed])
Committee to Unleash Prosperity . 1155 15th St NW Ste 900 . Washington, DC xxxxxx-2706 . USA