Inflation Continues to Tick Upward

Wire Editor
-
0
Inflation Continues to Tick Upward

(By Casey Harper, The Center Square) Recently released inflation data shows prices continue to rise in the U.S.

The U.S. Bureau of Economic Analysis released its monthly Personal Consumption Expenditure Index, a favorite marker of the Federal Reserve to track inflation, which showed prices rose 0.3% in May when excluding food and energy.

When taking into account food and energy prices, prices rose 0.1%.

“Disposable personal income (DPI), personal income less personal current taxes, increased $86.7 billion (0.4 percent) and personal consumption expenditures (PCE) increased $18.9 billion (0.1 percent),” BEA said.

The increase is less than previous months during the Biden administration, when inflation soared to the highest levels in decades. Republicans have hammered President Joe Biden for his role in inflation.

“We would not be in this inflation crisis if not for Democrats’ big spending bills that fueled the labor shortage and gave billions in special interest tax breaks to the wealthy and well-connected, billion-dollar corporations, and big banks,” House Ways and Means Chairman Jason Smith, R-Mo., said in response to the PCE data.

Biden, though, has touted his economic successes, pointing to relatively low unemployment, the recovery from COVID shutdown-related economic troubles, and the slowing of inflation in recent months.

“When I took office, unemployment was over 6 percent,” Biden said during a speech in Chicago last week where he touted “Bidenomics,” his rebuttal to trickle down economics. “With the American Rescue Plan, we’ve provided relief and support directly to working-class families. Our economy came roaring back. Unemployment dipped below 4 percent by the end of my first year in office. Now it’s been below 4 percent for the longest stretch in 50 years in American history.”

While inflation’s increase has slowed, prices are still much higher than when Biden took office.

“From the preceding month, the PCE price index for May increased 0.1 percent…” BEA said. “Prices for goods decreased 0.1 percent and prices for services increased 0.3 percent. Food prices increased 0.1 percent and energy prices decreased 3.9 percent.”

And price increases in the last year are still far higher than what economists consider healthy for the economy.

“From the same month one year ago, the PCE price index for May increased 3.8 percent,” BEA said. “Prices for goods increased 1.1 percent and prices for services increased 5.3 percent. Food prices increased 5.8 percent and energy prices decreased 13.4 percent. Excluding food and energy, the PCE price index increased 4.6 percent from one year ago.”

Fraudsters Likely Stole $200B in COVID Funds Meant for Small Businesses

Wire Editor
-
0
Fraudsters Likely Stole $200B in COVID Funds Meant for Small Businesses

(By Casey Harper, The Center Square) Taxpayers lost nearly $200 billion to fraudsters that was meant for struggling small businesses, according to a new watchdog report on the Small Business Administration’s COVID-era pandemic relief programs.

The SBA Office of Inspector General released a report on COVID-19 Pandemic EIDL and PPP Loan Fraud, which found that 17% of the $1.2 trillion allocated by Congress was “disbursed to potentially fraudulent actors.”

“OIG’s oversight and investigative work has resulted in 1,011 indictments, 803 arrests, and 529 convictions related to COVID-19 EIDL and PPP fraud as of May 2023,” the report said.

Despite these arrests, only $30 billion of the lost funds has been recovered. The IG has pledged to continue working to get the funds back, saying it has thousands of open investigations.

Most of the lost taxpayer money, which was “intended to help eligible small business owners and entrepreneurs adversely affected by the crisis,” will likely not be recovered.

Lawmakers responded to the report with concern. Chair of the House Committee on Small Business Roger Williams, R-Texas, said the latest IG report shows far more criminal fraud taking advantage of SBA than has been reported so far.

Williams blasted the SBA, saying it “failed to implement basic guardrails to protect the integrity of these programs, resulting in roughly 1 in 5 loans dispersed being labeled as potentially fraudulent.”

“When COVID-19 hit the United States, the SBA was tasked with taking on an oversized role to help save small businesses and our nation’s job creators,” he said. “Unfortunately, these after-action reports show the agency was not up to the task. I look forward to hearing directly from Inspector General Ware in July on what went wrong, how to fix these issues, and what recourse we must take to recoup these stolen taxpayer dollars.”

The SBA is just one of several agencies that saw similar waste, fraud, and abuse to the tune of hundreds of billions of dollars in total lost during the rush of pandemic-era spending. As The Center Square previously reported, an analysis from Open The Books found 82 programs across 17 agencies made improper payments in fiscal year 2022 alone, averaging $20.5 billion per month, or $683 million per day.

With the latest report on SBA, which showed higher losses than previously reported, those number could be even higher.

“In 2022, the incorrect payments totaled $1,673 for every individual tax return filed that year. (167,915,264, according to the IRS),” said Adam Andrzejewski, CEO of Open the Books. “They amounted to $846 for every man, woman, and child in the country. So, the government wasted $3,384 for every family of four – an amount equal to two average mortgage payments. (331,893,745, U.S. pop in 2021, from U.S. Census Bureau website).”

Despite Headwinds, U.S. Beer Industry Booming

Wire Editor
-
0
Despite Headwinds, U.S. Beer Industry Booming

(By Brian Crawford, RealClear Wire) Think of your favorite beer. What comes to mind? Maybe it’s an IPA at your friend’s cookout, or a crisp and refreshing light lager at a baseball game, or a summer shandy at the beach. No matter what brew you like to drink, millions of Americans worked to ensure that the beer in your hand is as fresh and tasty as ever.

With Memorial Day behind us, America and our vibrant beer industry are now firmly in the summer selling season, which falls between Memorial Day and Labor Day. Beer sold during this season accounts for 40% of total annual volume in the U.S. This year, we’re happy to report that the beer industry and the millions of Americans it employs are thriving.

We can attribute this success to millions of hard-working people who work in an industry they love. But it’s also because beer is a vital piece of the American cultural experience. With more ways to enjoy beer than ever, like new low- and no-alcohol versions of your favorite beer, the future of our industry is bright.

The Beer Institute recently released our Beer Serves America report detailing the wide-ranging impact the American brewing industry has on our economy. After three years of severe economic uncertainty, we’re proud that our dynamic beer industry is doing better than ever.

According to the report, beer contributes more than $409 billion annually to the U.S. economy. That’s roughly 1.6% of GDP – more than any other alcohol beverage. Beer is as crucial to American economic prosperity as it is to its culture.

Beer supports nearly 2.4 million American jobs – more than any other alcohol category. Those jobs range up and down the three-tier system, including 92,000 brewer and beer importer jobs, 137,000 distribution jobs, and nearly 980,000 retail jobs. According to the U.S. Tax and Trade Bureau, there are more than 6,600 breweries in the U.S. and at least one in every congressional district, from the Great Lakes to the Gulf of Mexico.

While things are looking up for the maker of your favorite beer these days, we’re not entirely out of the woods just yet. Our industry still faces a few headwinds that the Beer Institute and our members are addressing.

Recently, we’ve seen an effort by the liquor industry to blur the lines between beer and liquor in an attempt to lower tax rates on canned cocktails. A vodka martini and a beer aren’t the same, but the liquor industry wants you to forget that. Liquor products have an average alcohol content of more than 36%, while beer is less than 5%.

On top of that, the liquor industry is using these products as a gateway to stronger alcohol brands, with liquor company CEOs openly admitting they’re “a great way to recruit people into the franchise” and a “consumer recruitment vehicle.” Bear in mind that they’re saying this while trying to convince lawmakers across the country that there’s no difference between a canned cocktail and a beer.

Just this year, the liquor industry has proposed legislation to lower tax rates on canned cocktails in more than a dozen states. But state lawmakers and millions of Americans know that beer and liquor are different products and should be treated differently, and these proposals have been rejected handily in most of these states. Further, studies have shown that in the few states that lowered excise tax rates on canned cocktails, consumers saw price increases.

Simultaneously, beer manufacturers and other industries are still chafing under the Section 232 tariffs on aluminum. Since their enactment five years ago, aluminum tariffs have cost the American beverage industry nearly $1.9 billion. This remains a painful policy for brewers and every sector in America that depends on aluminum.

The tariffs’ costs are exacerbated by an obscure pricing system known as the Midwest Premium, allowing aluminum producers to charge tariffed prices on non-tariffed metal, including recycled content from within the United States. More than 74% of all beer produced in the U.S. is packaged in aluminum. Brewers and every industry dependent on aluminum have had enough of these tariffs. We continue to call on the Biden administration to lift these tariffs and help countless industries, including beer.

Despite all this, the the beer industry and the millions of people it employs have bounced back from severe economic turmoil. We have no illusions about the challenges facing us on the road ahead, but this industry and its employees are resilient, and this year’s report is proof positive.

The state of our $409 billion industry is strong, and that’s because of both our product and the people who make it. Next time you crack open a can of your favorite beer, you can enjoy it knowing you’re supporting millions of local jobs across our country.

Brian Crawford is president and CEO of the Beer Institute.

COMMENT: Independence Day Teaches Us That People Matter

Wire Editor
-
0
COMMENT: Independence Day Teaches Us That People Matter

(By Hans Zeiger, RealClear Wire) The Declaration of Independence is one of the most important statements on human liberty ever written. Not only did it launch the American Revolution, but it also inspired freedom fighters all around the world. From Frederick Douglass and the struggle against chattel slavery to Winston Churchill and the battle against totalitarianism, the ideas of the Declaration have been a rallying point for humanity’s champions.

But how would you summarize the document in as few words as possible? It’s a question worth pondering as we celebrate the Fourth of July.

Here is how I would summarize the Declaration in just two words: People matter.

People have inherent dignity – we are created equal, “endowed” with “unalienable” rights that belong to us as human beings. People are made to live freely and pursue a good life, what the writers of the Declaration called “happiness.”

People are entitled to participate in the ordering of the political community through their own consent. People are designed to govern themselves, not to be ruled over by outside forces in which they have no say. And people are worth sacrificing for – worth the mutual pledge of “our lives, our fortunes, and our sacred honor.”

As we celebrate American independence this year, we can look forward to the big 250th “Semiquincentennial” celebration in 2026, just three short years from now. America 250 will be an opportunity for all of us to renew our commitments to our fellow Americans.

How can we best elevate the Declaration of Independence in our own day? How can we celebrate the value and dignity of the people in our respective corners of America? How can we stand up for dignity, freedom, and opportunity? What will we “mutually pledge” to one another in our own critical hour?

I have no doubt that the most important thing we can do to achieve all this is to teach the rising generation the principles of freedom articulated in the Declaration. Unfortunately, though, our country is doing a poor job of this.

American civics education is in a state of disarray. Recent news of abysmal test scores proves that our students are falling behind. A civics education deficit is emerging. If we allow the decline to continue unabated, America is in danger of forgetting the Declaration’s truth that people matter. If our children are never taught the basic principles of our Constitution, then they will never participate fully in a government of citizens.

My organization, the Jack Miller Center, is fighting to reverse the decline. We are providing K-12 teachers with vital training so they can educate their students with actual primary sources instead of biased textbooks. We are supporting cutting-edge scholarship on the American political tradition at elite colleges and universities across the country. And we are advocating for a renewed emphasis on civics in classrooms everywhere.

On the Fourth of July, many families celebrate our independence by getting together at a barbecue and reading the Declaration aloud together. This tradition is a beautiful representation of what we need civics education to be.

At the end of the day, the folks on the front lines of civic renewal are parents. After all, the Declaration teaches us that people matter. The republic is made a little bit more alive every time moms and dads have conversations with their kids about our country’s incredible history.

Bidenflation Blights Independence Day w/ Skyrocketing Costs

Mark Pellin
-
0
Bidenflation Blights Independence Day w/ Skyrocketing Costs

(Mark Pellin, Headline USA) From neighborhood fireworks to family barbecues, the impacts of Bidenflation are rocking consumers with record high costs that threaten to put a damper on Independence Day celebrations.

A mere two years after President Joe Biden was caught gaslighting in a boast that claimed his policies had slashed July Fourth costs, the administration is back on track for wreaking economic havoc with inflationary costs.

Despite repeated promises from Biden Treasury Secretary Janet Yellen that inflation is under control, the average per-person spending on July Fourth food items jumped to $93.34 in 2023.

The hiked costs were revealed in updated data from a National Retail Federation survey conducted from June 1 to June 7 that highlighted responses from 8,225 consumers. The price jump to nearly $94 was “the highest ever recorded by the NRF since the survey began in 2003, marking a $9.22 increase since last year when the individual cost averaged out to $84.12,” reported the Daily Wire.

Among the drains sapping consumers’ wallets were an 8% hike in the average cost of beer and a 14% jump in the average price of a 12-ounce soft drink, according to a Wells Fargo report on food inflation.

The numbers didn’t get much better from the American Farm Bureau Federation, which found the cost of celebrating Independence Day taking a slight dip this year to $67.73 for a family of 10, but included a hike on some cookout favorites, including a 17% increase for hamburger buns, 5% more for potato salad, 4% more for ground beef and 3% more for strawberries.

Even with the minimal cost shrinkage the Farm Bureau found for this year, AFBF Chief Economist Roger Cryan said that this year’s overall calculated cost is “still 14 percent higher than it was two years ago” and “the second highest” priced July Fourth holiday recorded since the survey started tracking annual results in 2013.

“That’s still 14% higher than it was two years ago and this year’s basket is the second highest in the history of the survey,” Cryan said.

Biden Influenced Top University to Get Granddaughter Admitted, Emails Show

Luis Cornelio
-
0
Biden Influenced Top University to Get Granddaughter Admitted, Emails Show

(Luis Cornelio, Headline USA) As President Joe Biden directs his administration to blackout any mention of his illegitimate granddaughter, a damning new report accused the president of using his political influence to secure admission for another granddaughter, Maisy Biden, at the prestigious University of Pennsylvania.

This comes in the wake of Biden’s criticism of legacy admissions at the nation’s universities, making his actions appear hypocritical.

A report from the Washington Free Beacon cited text messages and emails from Hunter Biden’s infamous laptop, which were reviewed by the Free Beacon. These messages depicted conversations between Joe Biden and his son regarding the admission of Hunter’s daughter to UPenn.

In one message dated December 13, 2018, Biden tells Hunter, “I’m going to try to see [University of Pennsylvania] GUTMANN tomorrow.” Two days later, according to the Free Beacon‘s report, Biden informed Hunter, “Had a great talk with Guttman [sic].”

On December 15, Biden wrote, “Maisy still in the game for regular acceptance. But she must do well in class this period. It’s real. We should discuss hiring tutors, etc., starting tomorrow.”

In a separate text exchange, Hunter informed his daughter, Maisy, that Biden’s influence had worked. He asked Maisy, “Looks like pop has gotten very good news. Did you talk to him?”

Another email exchange revealed discussions about hiring a tutor and arranging for the lacrosse coach to advocate for Maisy’s admission.

The Free Beacon reported that the advice to involve a lacrosse coach may have come from the university’s president, possibly aiming to facilitate Maisy’s admission.

Hunter claimed, “I also think it would help if you had the lax coach talk to their lax coach if you had any interest in playing sports there. Bottom line is that Guttman [sic] made it clear that in order for her to explain the 11th grade, she had to show improvement in 12th.”

He added, “Which is something I think we all would have liked to know from the start, but in fairness, we were much later in the application process than usual, making it appear that we weren’t fully committed to Penn.”

Read the full Free Beacon report here.

DNC Already Rigging 2024 Election for Joe Biden

Luis Cornelio
-
0
DNC Already Rigging 2024 Election for Joe Biden

(Luis Cornelio, Headline USA) The Democratic National Committee has reportedly unanimously passed a controversial pledge to make Joe Biden and Kamala Harris the nominees for the 2024 presidency.

The DNC’s decision not to hold primary debates has sparked outrage among Biden’s opponents, including Marianne Williamson, who argue that it undermines the democratic process.

Williamson, an author and candidate for the Democratic nomination, criticized the DNC for violating the principles that the Democratic Party claims to protect. In statements to Fox News, Williamson said, “I don’t think it’s good for democracy. I think it’s very important that the Democratic electorate get a chance to weigh in.”

She expressed concern that Democrat voters would not have the opportunity to consider other candidates, stating, “I look at the campaign season as a long job interview process and the voters should have a chance to interview all of the candidates for the job and that does include the president.”

The DNC’s announcement comes amid a smear campaign against Robert F. Kennedy Jr., another Democrat presidential candidate, concerning his views on government-mandated vaccines and their potential negative effects.

While the DNC has not publicly responded to the growing criticism, Fox News reported that incumbent presidents in recent years have not engaged in primary debates. For example, the Republican National Committee did not hold any primary debates between former President Donald Trump and a handful of opponents amid the 2020 election.

“I do think they should recognize that people are watching. And people don’t like this,” Williamson further stated in her interview with Fox News. “It’s kind of outrageous how overt they are about absolutely admitting that they are doing what they can in the primary season to support the president.”

Jack Dorsey, the former owner and CEO of Twitter, had previously criticized the DNC for forcing American voters to stand behind the incumbent president. “Open the Democrat primaries and debates. This isn’t fair to anyone,” Dorsey said shortly after Biden, the oldest president in U.S. history, fell during a public appearance in June.

Signs Point to Possible Trump/ Larry Elder 2024 Ticket

Luis Cornelio
-
0
Signs Point to Possible Trump/ Larry Elder 2024 Ticket

(Luis Cornelio, Headline USA) Larry Elder, the conservative radio host and political commentator, recently made headlines with his surprising statement regarding a potential role as former President Donald Trump’s vice presidential nominee.

Despite running for the GOP nomination for president himself, Elder expressed his willingness to consider the vice presidential position if Trump were to extend the offer.

During a recent interview with Newsweek, Elder stated, “I am running for president, I’m not running for vice president, I’m not running for a cabinet position. However in the unlikely event I’m not the party nominee, and if Trump or DeSantis or one of the other persons call and ask me to be vice president, I will take the call. I won’t let it go to voicemail.”

The outspoken commentator did not shy away from sharing his views on the current political landscape. Regarding the media attacks against Trump, Elder said, “Here’s the problem; I believe there are so many swing voters in swing states who would not vote for the man if he walked on water. In fact, they would accuse him of not being able to swim. I have no idea what to do about Trump derangement syndrome—maybe someday somebody will develop a vaccine.”

According to Newsweek, Elder described himself as a “big fan of Donald Trump,” supporting his candidacy both in 2016 and 2020. However, Elder claimed that in order for the Republicans to win in 2024, they need to select someone other than Trump.

“I think at some point in this long process Republican voters are doing to realize in order to win in November 2024 they’re going to have to unite behind a candidate whose last name is other than Trump, but for whom a sufficient number of swing voters and swing states will vote so we can win in November 2024, and I’m making the case that I’m that person,” he added.

Elder, however, did not address Trump’s stronghold within the Republican base. According to a Morning Consult poll, Trump enjoys a significant lead, with 57% of Republican voters saying they would vote for him. Florida Gov. Ron DeSantis trails Trump with 19%, while Elder is currently polling at less than 1%.

According to Axios, Trump is considering Kari Lake, the former Republican nominee for the 2022 Arizona gobernatorial race.

New Photos Show Hunter Clocking 172 MPH, Flashing Crack Pipe, Talking Orgies

Dmytro "Henry" Aleksandrov
-
0
New Photos Show Hunter Clocking 172 MPH, Flashing Crack Pipe, Talking Orgies

(Dmytro “Henry” Aleksandrov, Headline USA) Thousands of newly released photos from Hunter Biden’s infamous laptop showed Joe Biden’s son smoking crack while driving a car in 2018 — the same year he was speeding at 172 mph while he was headed to Las Vegas — and interacting with hookers about his orgies.

The photos that were uploaded by Marco Polo, a nonprofit firm headed by former Donald Trump aide Garrett Ziegler, showed Hunter, 53, flashing and smoking a crack pipe while driving through a residential neighborhood in Arlington, Va., on June 12, 2018.

On Aug. 1, 2018 — less than two months later — he was racing to Las Vegas when he took a snap of the car’s dashboard, revealing that he was going at least 172 mph.

The pictures were found on Hunter Biden’s laptop, which also contained messages to multiple hookers waiting for him to arrive in Las Vegas for a hot tub party, the Daily Mail revealed in its exclusive report.

“I don’t have a bathing suit and I really, really wanted to wear a cute bathing suit,” one woman named “Cheryl” wrote Hunter. “But I don’t have any money to buy one so then I’m just going to have to be naked right?”

However, it seems that the party in Las Vegas was too much even for the kind of women who would want to have sex with Hunter since one of them wrote to Hunter that he has “too many girls there.”

“I understand you like a lot of girls. That’s fine. Do one at a time,” she wrote.

The Daily Mail reported that the Las Vegas trip appears to have taken place during the weeks-long bender. In January 2019, Hunter even had a conversation with one of his hookers, during which he admitted that this happened. The interaction was caught on a video when Hunter forgot to turn off his laptop camera after having sex with her.

CIA Using Ukraine War as Prop to Recruit Russian Spies

Ken Silva
-
0
CIA Using Ukraine War as Prop to Recruit Russian Spies

(Ken Silva, Headline USA) For most people involved, the war between Russia and Ukraine has been an unending series of horrors.

But for the CIA, the conflict represents what Director William Burns called a “once-in-a-generation opportunity” to recruit spies.

“Disaffection with the war will continue to gnaw away at the Russian leadership, beneath the steady diet of state propaganda and practiced repression. That disaffection creates a once-in-a-generation opportunity for us at CIA, at our core a human intelligence service,” Burns said in a lecture Saturday in the United Kingdom.

“We’re not letting it go to waste. We recently used social media—our first video post to Telegram, in fact—to let brave Russians know how to contact us safely on the dark web. We had 2.5 million views in the first week, and we’re very much open for business.”

Burns was referring to the CIA’s video published in May, asking Russians to contact the spy agency with links using Tor—a web browser that encrypts user activity.

“The idea is to use Tor to access a CIA site on the dark web that the agency uses to gather information from people around the world,” noted antiwar.com editor Dave DeCamp. “The CIA has been posting similar instructions on social media throughout the war.”

DeCamp also noted that Burns’ lecture in the UK followed a to Kyiv to meet Ukrainian President Volodymyr Zelenskyy. A U.S. official reportedly said that the trip took place before Wagner chief Yevgeny Prigozhin’s short-lived uprising against the Russian military establishment.

Zelensky reportedly confirmed that he met with Burns in an interview with CNN recorded on Sunday, but he was tight-lipped about what was discussed.

“My communication with the CIA chief should always be behind the scenes,” he said. “We discuss important things—what Ukraine needs and how Ukraine is prepared.”

Legendary investigative journalist Seymour Hersh has provided an alterior motivation for Zelenskyy keeping his meetings with the CIA secret: Accoridng to Hersh, the CIA knows he and other top Ukrainian officials have siphoned some $400 million in U.S. aid.

The issue of corruption in Ukraine was reportedly raised by Burns to Zelenskyy at a meeting last January. Hersh reported in April that Zelenskyy was presented with a list of 35 generals and senior Ukrainian officials that have apparently been wetting their beaks.

Hersh was told that the meeting “was out of a 1950s mob movie.”

“The senior generals and government officials in Kiev were angry at what they saw as Zelenskyy’s greed, so Burns told the Ukrainian president, because ‘he was taking a larger share of the skim money than was going to the generals,’” Hersh wrote.

However, Zelenskyy reportedly responded to the CIA director with a shrug. Hersh said Zelenskyy’s “half-hearted response,” coupled with the “lack of concern” in the White House, has seriously angered some top U.S. intelligence officials.

“They have no experience, judgment, and moral integrity. They just tell lies, make up stories. Diplomatic deniability is something else,” an official reportedly told Hersh, adding that there was a “total breakdown between the White House leadership and the intelligence community.”

Ken Silva is a staff writer at Headline USA. Follow him at twitter.com/jd_cashless.

1...1,8861,8871,888...3,888Page 1,887 of 3,888