Washington’s Biggest End-of-Year Spending Spree Ever?

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Unleash Prosperity Hotline
Issue #674
12/14/2022
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1) Memo to GOP: Don't Waive PAYGO
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Our latest in today's WSJ:

"Republicans will soon have the unilateral power to cut more than $130 billion from the budget. To secure these savings, Senate Republicans need only refuse to waive 2010’s Statutory Pay-as-You-Go-Act, or Paygo. Federal spending is now running roughly $130 billion over legal expenditure caps. Under Paygo rules, if Congress doesn’t find offsetting savings to bring spending below the limits by January, automatic cuts are triggered, including a 4% reduction in Medicare provider payments.

Congressional Republicans could and should propose a slate of cuts in wasteful programs as an alternative to these automatic “sequester” cuts... If Democrats refuse such a financially sensible package of budget savings, responsibility for the small automatic cuts in entitlement programs will be theirs."

But will they? And if they won’t take this tiny baby step to restoring fiscal sanity now, what makes anyone think they will do it next year, or the year after?

2) We're Glad SBF Was Arrested, But...

...the timing sure is interesting. As Lee Zeldin notes, this saves him from facing a House panel today:
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SBF was the top donor to Democratic candidates and causes this year. Everyone who received SBF funds should return them for the benefit of victims.

3) So NOW the Biden Administration Declares Opposition to Drilling Is Un-American!

And our candidate for the “you can’t make this $@! Up,” get a load of this headline:
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“I think that the idea that financiers would tell companies in the United States not to increase production and to buy back shares and increase dividends when the profits are at all-time highs is outrageous,” said Amos Hochstein, President Biden’s international energy envoy. “It is not only un-American, it is so unfair to the American public."

Really Amos?

Where do you think Wall Street got the idea that fossil fuel investments are a bad bet?

Perhaps because:

* Biden canceled the Keystone XL pipeline and banned oil and gas leasing in federal lands and waters on his first day in office.
* Biden adopted a "whole of government" climate policy to kneecap fossil fuels.
* Biden repeatedly announced he would stop all oil and gas production.
* Biden's EPA and Department of Transportation are trying to effectively mandate electric vehicles.
* Biden's National Economic Council director, Brian Deese, came directly from Blackrock where he was Global Head of Sustainable Investing.
* Biden's SEC is working on a proposed climate rule that would cripple oil and gas.
* Biden's left-wing allies hammer anyone who puts a penny into oil and gas with ESG scores and corporate campaigns.


Glad that the Biden Admin has inadvertently admitted its entire energy agenda is “un-American."

4) Guess Who the Big Winner of the SEC Climate Rules Being Pushed by Bloomberg Is?

Speaking of those proposed SEC rules to cripple fossil fuels, here is some intrepid dot-connecting from investigative reporter Kevin Mooney at the Daily Signal:

“Bloomberg created the Task Force for Climate [-Related] Financial Disclosure for the purpose of bringing the United States into these regulatory arrangements where companies are required to disclose the relationship between their business activities, their emissions, and what kind of climate risks they might encounter,” Tammy Nemeth, an energy policy analyst based in the United Kingdom, told The Daily Signal in a Webex internet call...

On Nov. 18, 2021, Bloomberg LP announced it was working to become the “financial industry’s first port of call for ESG information.”

Bloomberg’s company also introduced “climate transition scores” that provide oil and gas companies with “benchmarks” for measuring progress toward net zero emissions in comparison to those companies’ own targets.
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5) Quote of the Day

Brennan really distinguished himself as a world-class moron with this one. What’s really scary is that this is the man who was in charge of the Central Intelligence Agency.
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6) Newsom's Reparations Plan Explained

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