Biden Has Made Average Worker $3,000 Poorer

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Unleash Prosperity Hotline
Issue #616
09/13/2022
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1) Biden Has Made The Average Worker $3,000 Poorer
Poor Joe Biden.

Can you think of a worse day for The White House to celebrate his latest half-trillion dollar “Inflation Reduction Act” spending bill than today?

Here’re the latest numbers: CPI up 8.3%. That’s four times the Fed target of 2%. Core inflation is over three times the Fed’s target. Food prices, housing, and rent prices, transportation prices, and utility prices have surged.

The Fed has a LONG way to go in raising rates to get near there.

Stocks got whacked today as investors had previously put the chances of a 100 basis point rise in rates during the next Fed meeting at near 0% probability, but now those odds are up to 20%.

Real earnings continue dropping and are now down an annualized $3,000 for the average American since Biden took office. Time for a ticker-tape parade.

Real Incomes Are Shrinking

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2) Biden's Price Controls Make A Mockery Of His "Cancer Moonshot"

“Cancer doesn’t discriminate between red or blue, it doesn’t care if you’re a Republican or a Democrat,” Biden said in a speech Monday afternoon at the John F. Kennedy Presidential Library and Museum in Boston. “Beating cancer is something we can do together and that’s why I’m here today.”

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Nice sentiment, but the idea that government cancer research will be our salvation even while we undermine the incentives for private sector R&D through price controls is naive and dangerous.

The recently passed "Inflation Reduction Act" will, according to University of Chicago professor Tomas Philipson, "cut the amount spent on cancer research by more than nine times as much as Biden's 'Cancer Moonshot' initiative raises it."

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3) More Covid Madness: No Vaccine, No Candidate Debate In Florida
The Democrats love to pontificate about “threats to democracy,” but there were no protests about this muzzle on the debate. Last week GOP congressional candidate Scotty Moore running in Orlando, Florida was locked out of his scheduled debate against Democrat Darren Soto. Why? Because Moore wasn’t vaccinated. But vaccination is now proven to NOT reduce the virus spread. And Moore offered to take a Covid test on the spot – but the event was canceled. This outrage blatantly violates Florida policy.

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4) Speaking Of Vaccine Mandates, In America It’s Still No Shot, No Entry
This is embarrassing for America and comes just days after the mindless decision to exclude the world's number one tennis player Novak Djokovic from the US Open because of a vaccine mandate.

Most countries have lifted vaccine mandates for entry – most recently even New Zealand – once the lockdown king – has lifted all restrictions on foreign travel: no vax mandate, no test.

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So who is left with the nonsensical Biden policy of banning foreign travelers based on COVID vaccine status?

The US, Canada, China, Brazil, and a few dozen smaller countries, mainly in the Middle East.

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5) Video Of The Day: Biden's Student Loan Plan Is Profoundly Wrong
Our CTUP cofounder Steve Forbes demolishes the case for Biden’s student loan plan in just over 3 minutes. We hope you will help us spread it far and wide.

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6) The New Democratic Anthem?

Bob commuted to college
For discounted knowledge
So large debts he would not accrue
Lived at home, did some chores
Now he'll also pay yours
Cuz I'll give all his money to you

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