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Unleash Prosperity Hotline – Weekend Edition
Issue #728
03/11/2023, 03/12/2023
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1) No Wonder This Bank Has Collapsed
This was a promotional ad campaign from last year by Silicon Valley Bank that has been shutdown by the FDIC in the aftermath of massive account withdrawals. I'm sure SVB wishes it had that $5 billion today that it drained down the green energy rat hole.
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2) Biden Policies Have Drilled a Half Trillion Dollar Hole in Social Security
The latest from CTUP senior fellow Casey Mulligan, previewing a forthcoming paper on the subject:

President Biden released his 2024 budget request Thursday while continuing to accuse Republicans of scheming to cut benefits for seniors. But he’s got it backward. By advancing policies that hinder the economic growth that drives prosperity, Mr. Biden and his Democratic colleagues are the ones depriving Social Security and Medicare of the hundreds of billions of dollars those programs need to remain solvent.

I estimate that degrowth policies since 2020 will cumulatively reduce Medicare and Social Security tax revenue by at least $400 billion—and perhaps as much as $900 billion. The tax base will shrink even more if Mr. Biden succeeds in levying higher wealth and business taxes.

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3) Chicago Mayoral Candidate Lamely Defends the City’s Dismal School Performance
The high-stakes mayoral run-off election in Chicago will be held on April 4th. It squares off Brandon Johnson, a Chicago Teachers Union organizer, against Paul Vallas, who previously ran school systems in Chicago, Philadelphia and New Orleans, where after Hurricane Katrina he reconfigured the city’s education system so that it is made up of independent, non-profit charter schools.

In their recent debate, Johnson refused to respond to the Vallas critique of the woeful Chicago public schools, where only 6% of black children are proficient in math and only 11% in reading. This, despite the city spending $30,000 per pupil.

Johnson was asked if there was any issue on which he disagreed with the Chicago Teachers Union. He declined to answer other than to say “Once I’m mayor of the city of Chicago, I will no longer be a member of the Chicago Teachers Union.”

Right, he’ll just be a wholly owned subsidiary.

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4) Introducing Our New Hero in the United States Senate: Markwayne Mullin of Oklahoma
Mr. Mullin is new to the Senate, but during a labor hearing, the former CEO of a plumbing company skillfully, relentlessly, and thoroughly verbally thrashed the Dem’s witness, Teamsters’ President O’Brien. He's a union representative who makes $190,000 a year (not counting kickbacks). That fat salary is taken straight out of the paychecks of blue-collar workers.

If you have a few minutes we urge you to watch this classic take down of a belligerent union boss who accused the Senator of being “a greedy employer.” We need more street fighters in the Senate like Mullin. Are you listening, Mitch McConnell?


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5) Debunking the Myth of Parental Choice in Texas
Must watch from our friends at TPPF:

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They report:
* Less than 3% of Texas students successfully transferred districts in the 2018-2019 school year
* Only 7% of Texas students are enrolled in a charter school, with nearly 60,000 of them waitlisted annually
* Only 10% of Texas high schools have early college programs

With numbers like these, it's no surprise that parents across Texas are demanding more options and control of their children's education.

6) The Left's Understanding of "Choice"

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