Unleash Prosperity Hotline – Weekend Edition Issue #632
10/07/2022. 10/08/2022, 10/09/2022
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1) Real Price Tag For The Biden Green Energy Law May Be Almost Double The Original Estimate – The Left Celebrates
If you aren’t already thoroughly depressed about the financial situation of the country – the national debt just blew by $31 trillion – a new analysis by the Atlantic Magazine finds:
“The widely cited figure for how much the [Inflation Acceleration Act] will spend to fight climate change—$374 billion—is in large part determined by the Congressional Budget Office’s estimate of how much the green energy tax credits will get used. But that estimate is wrong, a Credit Suisse Bank analysis claims. So many people and businesses will use those tax credits that the IRA’s total spending is likely to be more than $800 billion, double what the CBO projects.”
Just to give you a sense of the derangement of the climate change crazies, the author of the article thinks this unanticipated $400 billion hidden cost of the bill is worth celebrating. The magazine explains to readers that this will cause the “Climate economy to explode.” By the way, the term “climate economy” is merely a euphemism for what we have long called the “climate change industrial complex.” It is about to get nearly $1 trillion of your and my money to produce a teeny-weeny fraction of our energy.
2) DeSantis Rebuilds Vital Island Bridge In Just A Matter Of Days
It’s almost comical to watch the media scurry across the hurricane-damaged communities of Florida hoping to embarrass and discredit Ron DeSantis. Again and again, they keep striking out.
Case in point: The AP wrote a story about an island town that was “without electricity and other resources for days” because of a blown-out bridge, but by the time the story was published, the bridge was fixed. We suspect that this would have taken months in New York or California.
After widespread mockery, AP deleted the tweet and wrote a new story:
3) As Energy Prices Begin To Soar Again, Biden May Double Down On His War On Fossil Fuels
Our president who has said umpteen times that he is “doing everything I can to keep gas prices low” is considering putting the kibosh on offshore drilling.
We doubt even this administration is so entirely economically and politically detached from reality that they would actually go through with this. But every time we say this about Biden, we turn out to be wrong.
The Jones Act is a 1920s law that prohibits foreign ships from transporting goods and services in American waters. Dozens of studies have shown conclusively that it adds to shipping costs and makes supply chain problems worse – especially for those living on islands like Hawaii and Puerto Rico.
The Biden administration relented last week and signed a waiver allowing a SINGLE non-U.S. flagged ship to transport fuel to Puerto Rico, which faces a severe diesel shortage after Hurricane Fiona.
As our pal Kevin Hassett, who was chair of the Council of Economic Advisors under Trump, notes: “The recent Biden executive order to block Russian oil imports means that now Hawaiians will disproportionately bear the cost of efforts to deprive Russia of export revenue.”
The U.S. Virgin Islands has a permanent Jones Act waiver, Puerto Rico just got a temporary one. It’s time to allow Americans in energy-dependent places like Hawaii and New England to get a waiver from this economic insanity.
5) California Health Czar: Only A “Tiny Fraction” Of The People Want Individual Liberty And Freedom
Los Angeles County health czar Barbara Ferrer was one of the fiercest lockdown artists in the country during and after Covid. She has been wrong about nearly everything. Somehow even when she routinely makes comments like this, she continues to command the support of the Board of Supervisors.
Susan Shelley commented:
Ferrer is an example of what libertarian author Isabel Paterson called “the humanitarian with the guillotine.”
