Joe Biden is gaslighting America on the economy. His administration is trying to oversell what has underperformed for several reasons: First‚ the economy is the one issue that affects most Americans most significantly. Second‚ Biden is doing worse on virtually every other issue. Finally‚ time is short: the economy is about to get worse‚ and the election is close. The administration’s strategy is to get Americans to believe what they hear and doubt what they see. Biden and his administration are loudly beating the drum on the economy. At a recent event in swing-state Wisconsin‚ the president told his audience: Just last week‚ we saw the biggest jump in 30 years and how positive consumers are feeling about the economy. Things are finally beginning to sink in. We passed a lot of really good legislation. We knew it was going to take time for it to begin to take hold‚ but it’s taken hold now in turning the economy around. The administration is hoping that repetition can trump performance and rhetoric displace reality. Despite his whistling past the graveyard‚ during Biden’s presidency‚ the economy has been tepid while inflation has been torrid. READ MORE: Is a Great American Bankruptcy Coming? This is what the economy has done over the last three years. In 2021‚ real GDP grew 5.8 percent‚ but that was the rebound effect from COVID’s (in Q2 of that year‚ it fell 28 percent) — and‚ even more‚ from lockdowns’ — effects in 2020: In statistics‚ climbing out of hole looks as though you’re jumping up. In 2022‚ the economy grew 1.9 percent and‚ in 2023‚ 2.5 percent. Tepid. What really has been strong in Biden’s economy has been inflation. When he took office in January 2021‚ it was running at 1.4 percent. Two months later‚ it crossed the Federal Reserve’s 2 percent threshold at 2.6 percent‚ and it hasn’t retreated across since. It finished 2021 at 7 percent. It peaked in June 2022 at 9.1 percent (a 40-year high) and finished 2022 at 6.5 percent. It finished 2023 at 3.4 percent. In 2024‚ it started January at 3.1 percent — still well above the Fed’s 2 percent target. Torrid. To summarize Biden’s economy: For working Americans‚ strong inflation has undercut the effect of mediocre economic growth. So why is Biden insisting on making his case on the economy? For one thing‚ this is what politicians do‚ and it is especially what Biden does. The old adage is that those who can’t do teach; in politics‚ those who haven’t done spin. For another thing‚ Biden doesn’t have anything to take credit for with average Americans; as a result‚ he’s doing worse with the American people on virtually everything else. On the economy‚ RealClearPolitics’ average of national poll results shows Biden with a 39 percent approval and 57.1 percent disapproval on the economy. As bad as that “minus 18” is on the economy‚ he’s at “minus 20.5” on foreign policy. On inflation‚ he’s “minus 25.2.” On the Israeli-Palestinian conflict‚ he’s “minus 20.8.” And on immigration‚ he’s “minus 30.8.” So‚ if Biden’s going to be positive about something‚ he’s got to pick what Americans view him less negatively on. Plus‚ the economy’s about to start doing worse — so he needs to make what hay he can while the sun is as close to shining as it’s going to get. As evidence‚ the Congressional Budget Office is predicting the economy’s real growth to be just 1.5 percent in 2024. The reason for slowing growth goes back to that torrid inflation. When inflation began spiking in 2022‚ the Fed began hiking. It raised interest rates 11 times in just over a year‚ taking them from a range of 0.25–0.50 percent to 5.25–5.50 percent. And there they have stayed — and with Tuesday’s release of higher-than-expected inflation readings‚ there they look likely to stay for longer than the markets had hoped. Such a rapid increase in interest rates is going to affect growth‚ and that effect is going to come in 2024. A worst-case scenario will be for growth to slow while inflation remains unacceptably high. It was fear over just such a scenario that sent the stock markets tumbling on Tuesday — the Dow’s worst drop in almost a year. The Biden administration is feeling the squeeze. Americans view the president negatively on the economy — and a lot else besides. The calendar is also squeezing: The election is less than nine months away. And the economy is likewise likely to start squeezing‚ as interest rates seek to slow what Biden’s excessive spending ($5.8 trillion in deficits over his first three years — with another $1.6 trillion coming in 2024‚ according to CBO) helped to fuel. At this point‚ the administration is pursuing a strategy of saying what the economy’s not in hopes that if Americans hear it long enough‚ they will begin to doubt what they know about the economy and the president. J.T. Young was a professional staffer in the House and Senate from 1987–2000‚ served in the Department of Treasury and Office of Management and Budget from 2001–2004‚ and was director of government relations for a Fortune 20 company from 2004–2023. The post Biden Gaslights America on the Economy appeared first on The American Spectator | USA News and Politics.

Ah‚ February. A month of hope. The first whispering lilts of springtime are upon us. Our old friend from Pennsylvania — Punxsutawney Phil — emerged from his burrow on Gobbler’s Knob this month and announced that winter will be over soon‚ giving us official permission to daydream about warm summer days‚ backyard barbecues‚ and lazy frolics along the seashore (thanks‚ Phil!). READ MORE: Charles Dickens Teaches Washington Elites How to Budget Regrettably‚ this month also brings with it another longstanding tradition — the federal budget proposal for the next fiscal year. Even without dissecting it line by line‚ it is clear that this administration has learned nothing from past failures as it continues to propose massive increases in federal spending. The United States’ debt currently stands at $34 trillion. Federal budget experts indicate that our nation faces structural deficits of nearly $2 trillion per year‚ despite federal tax revenues being at an all-time high. Inflation‚ relatively tame over the last two generations‚ has now returned stronger than ever‚ with prices on necessities up between 10 and 40 percent since 2021. When the government spends too much‚ it has to borrow money to fill the gap or increase the money supply. Prices rise because there is too much money chasing too few goods. Interest rates also increase‚ making the cost of household debt — from credit card payments to auto loans to home mortgages — more expensive. Jimmy Malone said it best in The Untouchables‚ when he took Eliot Ness on his first liquor raid: “Everyone knows where the booze is. The problem isn’t finding it. The problem is who wants to cross Capone.” Similarly‚ our leaders know exactly what the problem is — unfettered government spending — but none confront this looming catastrophe head on. No initiatives to bend the spending arc and put the government on the road to fiscal sanity currently exist. An illustrative example is how the government is now proposing to increase the size of the IRS. Most Americans are aware that the IRS plans to hire thousands of new agents and employees. The chief human capital officer for the IRS‚ Traci DiMartini‚ recently said the IRS will utilize “every tool that is available to us” to implement this staffing increase. Its plan involves utilizing the Office of Personnel Management (OPM) — the government-run human resources agency — to solicit‚ vet‚ interview‚ and place applicants in these positions through its USA Staffing portal. To handle such a massive project‚ OPM would first have to recruit and hire even more federal employees because it lacks the resources for successful completion of such a large project. These new OPM employees would receive hefty government salaries and benefits‚ and‚ once this project is complete‚ would desperately search for new projects to justify their existence. Moreover‚ the bureaucratic geniuses at OPM lack a stellar track record in hiring — so it seems inevitable that these new hires will lead to further waste‚ fraud‚ and abuse of the U.S. taxpayer. A recent report revealed serious flaws in data management and cybersecurity at OPM dating back to 2015‚ when OPM was responsible for the largest government data breach in history‚ exposing the private data of thousands of federal employees. This violation was so grave that OPM was forced to provide these employees with “free” credit-monitoring services‚ all courtesy of the U.S. taxpayer. Enough is enough. The government shouldn’t be getting bigger. But if it must get bigger‚ then it should be done responsibly‚ leveraging private-sector technical expertise to ensure cost efficiency. Until the utilization of such smart‚ cost-effective solutions become standard operating procedure government-wide‚ there is no hope of getting our financial house in order. Perhaps we should feel lucky that Punxsutawney Phil didn’t see the FY 2025 budget when he emerged from his stump on Feb. 2. If he had‚ he would have been so spooked by the shadow of fiscal calamity that he would have crawled back in‚ never to be seen again. Sean Moran is the former staff director of the Committee on House Administration of the United States House of Representatives. In that position‚ he had oversight responsibilities of all U.S. House Human Resources‚ payroll‚ and cybersecurity and was one of the official liaisons during the OPM data breach in 2015. Prior to that‚ he was the deputy chief of staff for Rep. Candice Miller (R-Mich.). He has extensive private-sector background in government contracting in the area of human capital management. The post Six More Weeks of IRS Power Grabs? appeared first on The American Spectator | USA News and Politics.

🚨🇺🇸 2023 ILLEGAL MIGRATION GROWS 10X IN SEVEN YEARS 2024 SO FAR: 988‚8192023: 3‚201‚1442022: 2‚766‚5822021: 1‚956‚5192020: 405‚0362019: 859‚5012018: 404‚1422017: 310‚531 Source: US Customs &; Border Protectionpic.twitter.com/oLW6GyOLZr — Mario Nawfal (@MarioNawfal) February 13‚ 2024

by Daisy Luther‚ The Organic Prepper: Will China Use the Supply Chain as a Weapon Against the US? Is the supply chain China’s secret weapon? Over the last few years‚ the phrase “supply chain” has become one of increasing importance to everyone – from corporate leaders to government officials and to customers. Now‚ it’s a […]

by Mac Slavo‚ SHTF Plan: Recently‚ South Africa evoked opposition in some quarters by bringing a case against Israel to the International Court of Justice on the account that the latter is perpetuating genocide against Palestinians. Israel’s response to the terror of Hamas has been widely denounced by the mainstream press‚ but irrespective of the legitimacy […]

Photo: Alamy House Permanent Select Committee on Intelligence Chairman Mike Turner‚ R-Ohio‚ released a statement on February 14 announcing that the committee had “made available to all Members of Congress… The post Intelligence Committee Chair Mike Turner warns of a serious national security threat first appeared on Right Side Broadcasting Network (RSBN).