Liar, Liar, Pants on Fire

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Unleash Prosperity Hotline
Issue #647
10/31/2022
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1) Liar, Liar, Pants On Fire
We almost fell off our bar stools last week when we heard this bit of braggadocio from Joe Biden:

“Today, my administration announced that this year the deficit fell by $1.4 trillion — the largest one-year drop in American history.

Let me repeat that: the largest-ever decline in the federal deficit.”

Talk about putting lipstick on a pig. Joe Biden has spent and borrowed more money in his first twenty months in the White House than any other president in history. He’s already increased spending over the next 10 years by well over $4 trillion.

We went back and looked at what the Congressional Budget Office baseline was the month Biden left office and compared that to Biden’s fiscal results so far. The first chart below shows he has ALREADY added just shy of $900 billion to the amount the feds would have spent and borrowed if he had simply done nothing.

Now let’s look at the unconscionable deterioration of the longer-term fiscal picture. Thanks to Biden’s spending blitz, the debt over the next decade will be larger in every single year with almost $5 Trillion added – more than we spent to fight World War 2.

If you believe Biden is a deficit cutter, you also probably believe O.J. was innocent.

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2) Why Is The Left So Terrified Of Ron DeSantis?
We don’t have a horse in the 2024 presidential sweepstakes, but it’s fascinating to us that the left is becoming as unhinged about the prospect of Ron DeSantis in the White House as they are about another Donald Trump run.

A USA Today screed about DeSantis starts this way:

"If there were a recipe to make another Florida Governor Ron DeSantis it might go something like this: Grab some playground bully off the shelf with a heaping teaspoon of science denial, a swig of race-baiting and a lump of LGBTQ bigotry for good measure.

If it sounds nasty, that's because he is."

By the way, one of DeSantis’ alleged sins is that he wants to teach patriotism in the schools and another is he doesn’t want 12-year-olds to get sex change operations.

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3) And Speaking Of Joe Biden’s Problems With Math…
Sometimes we wonder if Joe Biden – would pass the math competency test that more than one-third of our public school students can’t. Joe has real and recurring problems with simple numbers.

At a stop in New York on Thursday, Biden bragged about the price of a gallon of gas dropping to $3.39 a gallon, “down from over $5 when I took office.” Huh?

For the record, the average price per gallon when he was inaugurated was $2.42. The current price is $3.76 a gallon — not $3.39 as Biden claimed.

He also said $7 a gallon gas In California “has always been the case.” No, Mr. President, the cost of gasoline has surged upwards by 39% in the last year alone, according to Triple-A.

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4) California Voters Poised To Kill Another Income Tax Hike
California has the highest income tax in the country at roughly 14%. A November ballot initiative, if approved by the voters, would hike the highest rate on the rich by another 1.4 percentage points in order to chase even more millionaires and billionaires out of the state.

The crazy initiative is a progressive fantasy version of having 40 virgins. It raises the highest tax rate to 15% on those making more than $2 million a year and it would use the money to fund zero-emission electric car purchases. We suspect that the rich would cash in on the Tesla subsidies by loading up their electric cars and vans with all their ownings and high tail it to Nevada, Texas, Tennessee, or Florida and pay ZERO state income tax.

Now for the good news. The latest poll from the Public Policy Institute of California found only 41 percent of likely voters support Prop 30. Amazingly, the tax hike would be so destructive to California small businesses that even CA gov Gavin Newsom is against it.

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5) Chuck Schumer Admits He Wants A Carbon/Energy Tax
So much for the Democrats' mantra, they are doing “all we can to reduce gas and energy prices.”

In the New York Senatorial debate on Sunday Chucky Schumer inadvertently told the truth: he wants an energy tax to make gas and electric bills MORE expensive. Schumerdodged the question the first time he was asked in the debate against Republican Joe Pinion, but the moderator asked again and got an answer voters in the rest of the country should pay attention to:

“The carbon tax is something I would seriously consider. It has to be worked out. It doesn’t yet have majority support.”

If he gets that expanded majority, we think this carbon tax will be a high-priority item for Biden and the Dems in 2023.

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6) Happy Halloween!

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