Inflation Now Four Times Higher Than CBO Projected When Biden Entered Office

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Unleash Prosperity Hotline
Issue #641
10/20/2022
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1) Inflation Now Four Times Higher Than CBO Projected When Biden Entered Office
We are sick and tired of Biden’s rewriting of history that the economy was “in free fall” when Joe took office.

Inflation was below 2% when he was inaugurated. Every month inflation has been higher than it would have been if we had stuck with the Trump policies, according to the Congressional Budget Office. For each of the past four quarters, inflation has exceeded the CBO baseline projection by fourfold. Instead of continued 2% inflation, we got 8%.

Exceeding Expectations

Joe, you did that! All by yourself.

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2) Almost No One Trusts The Media Anymore – And For Good Reason
New Gallup Poll finds nearly two-thirds of America don’t trust that the media reports the news “fairly and accurately.”

For good reason. The national media spent almost a year and a half as bloodhounds chasing the Russia collusion hoax.” It was the fake news story of the decade. Then they worked together to bury the Hunter Biden laptop story before the election.

The media's scare story reporting on Covid was equally irresponsible. They got it wrong on the need for business lockdowns, school closures and even vaccinating kids.

They reported on “mostly peaceful” protests in the streets of our major cities when Americans could see the chaos, violence, and mayhem on their tv screens. Even the media’s own self-appointed “fact checkers” get the facts wrong routinely.

Instead of fixing the bias, the media bigwigs seem almost indignant that Americans have lost trust in their reporting and headlines.

The last time the majority expressed trust in the media was way back in 2003.

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3) Fauci Has Morphed Into Pinocchio
Anthony Fauci continues to try to have it both ways. The guru of COVID-19 lockdown supporters was asked this week by ABC News’ Jonathan Karl if America paid too high a price in locking down in 2020 and 2021.

"Yeah, I would say that what we should have realized is that there will be deleterious collateral consequences when you do something like that," Fauci answered.

"That's the reason why I continually would say on any media appearances I've had: We've got to do everything we can to keep the schools open.”

He then unleashed his real whopper: “They always come back and say, ‘Fauci was responsible for closing schools.’ I had nothing to do with it.”

Excuse us!

This is the same man who consistently urged lockdowns as a member of the White House’s COVID task force. When Trump tried to reopen the economy in the Spring of 2020, Fauci went berserk. In May 2020 he claimed that reopening too soon could be “really serious.” He also told Senator Rand Paul after being grilled by him over the lack of evidence that schools should be closed: “Be careful,” Fauci warned, because children were not “completely immune” from “the deleterious effects” of Covid.

Fauci also rushed straight to the White House TV camera pool when Ron DeSantis announced that schools would reopen in Florida. Fauci denounced the move, warning that children who went back to school “will likely get infected.” Not “could” get infected, but would “likely” get infected.

Americans aren’t stupid. We all know and remember clearly that Fauci was the lead Covid alarmist. He is leaving the government no doubt in hopes of capitalizing financially even further on his celebrity status. If there is any justice in the world this health fraud will be booed off every stage he walks on to.

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4) Alarming Decline In Publicly-Traded Companies
Fred Smith, the venerable founder and CEO of FedEx spoke at a CTUP dinner this week in New York and warned about the disappearing American corporation. He showed us the chart below revealing the trend. Why? A spate of new regulations and laws starting with Sarbanes-Oxley, which notoriously added billions of dollars of new costs, stringent civil and even criminal liabilities, and voluminous reporting requirements on American corporations discouraged companies from going public.

That was all child’s play compared to the new 300-page SEC regulations regarding the environment and social justice (ESG) requirements that would be one of the most expensive regulations ever implemented. The cost of going public would triple. Companies will move out of the U.S. to avoid these costs.

Smith advises that the tax code should treat all businesses the same and suggests that the Steve Forbes flat tax might be a huge stimulus to the economy.

He’ll get no argument here.

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5) Where Is The Nearest Drug Store?
Speaking of our deranged woke culture, Rampant retail theft is forcing grocery and drug store closures in inner cities.

Wawa, the iconic store chain that personifies Philadelphia, has just announced the closure of two downtown stores and may exclude the city from any expansion plans due to rising crime. Last month, a gang of 100 juveniles ransacked a Wawa store. Reported thefts at Wawa’s 40 Philly sites have doubled in the last two years.

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Meanwhile in San Francisco, this week Cotopaxi Drugs closed a store that it had only opened a year ago. It joins 11 Walgreens stores that have closed in the last three years due to rising crime.

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Cotopaxi CEO Davis Smith said crime was so bad, employees started locking the door and only letting customers in. “But someone was hiding along the side, they rushed in the store as well and this group started grabbing thousands and thousands of dollars worth of product,” Smith said. He has gone on LinkedIn to blast city officials for allowing the city to descend into “a city of chaos.”

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“I grew up in Latin America and spent much of my adult life there, and I never felt this unsafe there.”

With stories like these, Is it any wonder crime ranks as one of the top issues among all voters, especially minorities?

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6) This Cartoonist Must Be A HOTLINE Reader!

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