Biden Takes Heat after Inflation Increases Again

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Biden Takes Heat after Inflation Increases Again

(Casey Harper, The Center Square) The latest federal inflation data shows consumer prices rose again in February, sparking criticism of President Joe Biden and his spending agenda.

The U.S. Bureau of Labor Statistics released the Consumer Price Index Tuesday, which showed consumer prices rose 0.4% in February, totaling a 6% increase over the previous 12 months.

“Core CPI came in hot: 0.5% for the month as opposed to the (still hot) 0.4% expected,” Jason Furman, an economist and Harvard Professor, wrote on Twitter. “Core CPI higher for the month than the three months than the six months.”

“Core CPI came in at a 5.6% annual rate for the month of February,” he added. “In the 25 years before COVID the single highest monthly print (out of 300 prints) was a 4.6% annual rate.”

Critics pointed out that the annual inflation rate declined in this latest data, but Furman suggested that does not mean the U.S. is out of the woods yet.

“The fact that 12-month inflation fell simply means that inflation in Feb 2023 (which entered the calculation) was lower than inflation in Feb 2022 (which dropped out),” Furman said. “Which is to say, it does not mean anything about the underlying inflation trend or outlook.”

Critics are piling up on President Joe Biden after the data was released, in particular, because Biden just days ago released a federal budget that would have the national debt surpass $50 trillion within a decade.

“Just last week, Biden put forward a $6.8 trillion budget that’s even more full of reckless taxes and spending than his last terrible proposal,” said Sen. Rick Scott, R-Fla. “Credit card debt is up and savings are down as families struggle to make ends meet. For our poorest families, like mine growing up, Biden’s high prices make even the most basic necessities unaffordable. The president needs to WAKE UP and realize that the pain he is causing for hardworking Americans won’t end until he ends his addiction to reckless government spending.”

The White House has pointed out that its budget cuts deficits by $3 trillion over the next decade. Even with those cuts, the debt is projected to continue to rise. The federal government is projected to spend more money on interest payments on the national debt than on national defense over the next decade.

“Families have lost two months of pay to inflation,” said House Ways and Means Committee Chairman Jason Smith, R-Mo. “Yet the President is embracing further rounds of fiscal and economic calamity including an additional $4.7 trillion in tax increases on families, farmers, and job creators to fund the Democrats’ welfare for the wealthy agenda.”

Federal debt spending fuels inflation because money-printing helps the government sustain its debt spending but also increases inflation.

“President Biden’s reckless spending and far-left priorities have created an inflation disaster,” Sen. John Barrasso, R-Wyo, said after the pricing data was released. “Americans are dipping into their savings just to pay for gas and groceries. Yet, President Biden doubled down on his disastrous policies with his latest budget request. His radical, tax-and-spend wish list attacks American energy, wastes taxpayer dollars, and raises taxes on everyday Americans.”

Ohio Sues Norfolk Southern, Citing Reckless Endangerment

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Ohio Sues Norfolk Southern, Citing Reckless Endangerment

(J.D. Davidson, The Center Square) Ohio Attorney General Dave Yost says the state is suing Norfolk Southern, saying the rail company is financially responsible for the Feb. 3 train derailment in East Palestine that caused the release of more than 1 million gallons of hazardous chemicals.

In the 58-count civil lawsuit filed in federal court Tuesday, Yost said Norfolk Southern recklessly endangered the health of area residents and the state’s natural resources.

“Ohio shouldn’t have to bear the tremendous financial burden of Norfolk Southern’s glaring negligence,” Yost said. “The fallout from this highly preventable incident may continue for years to come, and there’s still so much we don’t know about the long-term effects on our air, water and soil.”

In a statement, Norfolk Southern said, “We are also listening closely to concerns from the community about whether there could be long-term impacts from the derailment. This week, we met with Ohio Attorney General Dave Yost to discuss three additional programs we plan to develop in conjunction with his office and other community leaders and stakeholders. We look forward to working toward a final resolution with Attorney General Yost and others as we coordinate with his office, community leaders and other stakeholders to finalize the details of these programs.”

Norfolk Southern officials have consistently said it will take financial responsibility for the derailment and cleanup. Yost said the lawsuit will make sure that will happen.

The suit, filed in U.S. District Court of the Northern District of Ohio, cites the company’s accident rate rising 80% in the past 10 years. At least 20 Norfolk Southern derailments since 2015 have involved chemical discharges, according to the lawsuit.

“The derailment was entirely avoidable and the direct result of Norfolk Southern’s practice of putting its own profits above the health, safety and welfare of the communities in which Norfolk Southern operates,” the lawsuit reads.

Yost alleges 58 violations of federal, state and common law by Norfolk Southern, including violations of the Comprehensive Environmental Response, Compensation and Liability Act, along with the state’s hazardous waste, pollution control, solid waste and air pollution control law. He also alleges violations of common law negligence, public nuisance and trespassing.

Yost said common law violations include negligence counts relating to defects in the train and the train’s operation. The nuisance counts encompass the chemical releases into the air, public waterways and public land, and the trespass counts address the contamination of natural resources.

The complaint says releases from at least 39 rail cars have made their way into Sulfur Run, Leslie Run, Bull Creek, North Fork Little Beaver Creek, Little Beaver Creek, the Ohio River and/or some still-unknown Ohio waterways.

Yost said the state is entitled to recover the lost taxes and other economic losses it has suffered. Yost also wants injunctive relief, civil penalties, costs, damages and court costs, including a judgment holding the rail company responsible.

Also, Yost wants the court to require Norfolk Southern to conduct future monitoring of soil and groundwater at the derailment location, the surrounding areas and beyond and to submit a closure plan to the Ohio EPA.

The lawsuit would also stop Norfolk Southern from disposing of additional waste at the derailment site and from polluting Ohio waters.

Buttigieg to Blame for Sluggish Daylight Saving Time Drag

Mark Pellin
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Buttigieg to Blame for Sluggish Daylight Saving Time Drag

(Mark Pellin, Headline USA) Already under fire for myriad failures on multiple fronts, Pete Buttigieg has managed to disprove the old saw that even a broken clock is right twice a day. And if you’re one of many bleary-eyed stragglers still grappling with the hour-shift to daylight saving time, the embattled transportation secretary is reportedly to blame.

A bill that was slated to finally eliminate the annual dictum to “fall back and spring forward” became stuck in Congress, as some lawmakers said they want to wait for Buttigieg’s transportation department to finish a promised review of the transition and its policy implications.

That hasn’t happened, what with Buttigieg busy avoiding Ohio’s toxic train derailment and scurrying to find personal time, so the popular, bipartisan Sunshine Protection Act, co-sponsored by Sens. Marco Rubio, R-Fla., and Ed Markey, D-Mass., has been left to wither on the vine.

According to the Washington Free Beacon, “Presumably due to Buttigieg’s inexperience and lackadaisical leadership style, the review is ‘not expected to be completed until year’s end.’”

The legislation seemed on track last year, when it sailed through the Senate with a target of November 2023 to make daylight saving time permanent across the country, but got sidetracked in the House.

The usual suspects of lobbyists, in this case for the sleep-health industry, and critics, in this case sleep-medicine doctors who claim excessive daylight disrupts circadian rhythms, have also contributed to the legislative stall, the Washington Post reported.

It fell on the Transportation Department to address those outstanding issues and get the bill back on track. But tracks and Buttigieg have proved a bad mix, just ask the folks of East Palestine.

It’s not even a certainty “if Buttigieg even understands how daylight saving time works,” the Free Beacon quipped, much less that clearing the way for its permanent shift is part of his remit.

“Here’s what 8 a.m. looks like on the western edge of the eastern time zone, a few days before daylight savings kicks in,” Buttigieg wrote on Twitter in November 2018.

“I stand corrected,” he tweeted several minutes later. “Daylight Savings is underway, so it’s about to kick… out?”

NYPD Hemorrhaging Cops as Officers Flee City at Record Pace

Mark Pellin
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NYPD Hemorrhaging Cops as Officers Flee City at Record Pace

(Mark Pellin, Headline USA) Police are fleeing New York City at a record-breaking alarming pace, as crime rates skyrocket, morale slumps and a leftist governor and Big Apple mayor do little to address issues that law enforcement claim are most important.

A New York Post review of NYPD data showed that 239 officers called it quits in January and February, a 36% spike from the 176 who left during the same period last year. The departures marked a shocking 117% jump from 2021. The mass exodus marked the highest number of resignations for the first two months of any year since the department’s bitter contract dispute in 2007.

“The NYPD staffing emergency is approaching the point of no return,” said Police Benevolent Association President Patrick Lynch.

In a major case of delusional expectations, New York City Democrat Mayor Eric Adams last summer said he didn’t fret officers leaving Gotham’s force in record droves. When asked by a Fox News affiliate if he was “concerned there are reports that over 500 cops are resigning and over 1,000 are retiring,” Adams dismissed any worry.

“New York City Department is an amazing career. I know it first hand,” Adams said. “We’re going to find young men and women, who are going to want to be a member of New York City’s finest… We’ve got an amazing recruitment campaign coming in and it’s a great opportunity to diversify the department.”

That forecast crumbled. In only a two-day period last month, 21 cops walked out to join the city’s metro transit force, the Post reported.

“The city is out of control — especially since bail reform,” a former NYPD officer told the Post last year as the exodus started. The mantra now is “get out while you still can.”

The departures come at a time when the NYPD’s staffing levels, at about 33,822 uniformed cops, are already 1,208 below the department’s budgeted headcount, according to documents the Post reviewed. The police resignations hit as NYC crime has spiked nearly 22% across the board, including robberies, burglaries and felony assaults.

Soaring crime is only a snapshot of a much larger picture plaguing the NYPD, officers told the Post.

“The NYPD needs to be rebuilt from the ground up — it’s unfixable in its current state,” a veteran Manhattan cop said. “It’s not just politics and poor pay. Precinct cops are being forced to work an inhumane amount of overtime, including on their days off, while being penalized for minor uniform and administrative infractions.”

The petty penalties and other forms of retribution linger from the anti-law enforcement, defund the police movement that leftists embraced following the violent riots of 2020 after the murder of criminal George Floyd, police told the Post.

While some NYPD officers are leaving the force to join the city’s metro system, others are fleeing the region as a whole. Many have turned to states like Florida, where both the pay and also the environment are better.

Spero Georgedakis, who grew up in Queens wanting to be a part of “New York’s Finest,” has seen the departure first hand. Georgedakis is a former Miami SWAT officer who now helps recruit and relocate New York City cops to Florida departments.

“We had four or five New York City police officers reach out to us last week,” Georgedakis said. “They saw the spots, and we gave them [salary] quotes.”

Upwards of 1,400 officers will have quite the department by year’s end, if resignations continue at the current pace, the Post projected based on available data.

“We are losing cops to better pay and benefits in other policing jobs almost every day,” said Lynch, whose PBA reps 22,000 uniformed officers.

From Dovish Trump to Hawkish Pence, GOP Presidential Hopefuls Outline Ukraine Policies

Ken Silva
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From Dovish Trump to Hawkish Pence, GOP Presidential Hopefuls Outline Ukraine Policies

(Ken Silva, Headline USA) Is opposing Russia’s invasion of Ukraine a vital strategic interest for America? If so, how much blood and treasure should the U.S. contribute to the cause? And does this risk a nuclear world war?

These were a few of the questions leading Republican presidential candidates answered for a segment Fox News host Tucker Carlson aired Monday night. Carlson noted that “it was kind of presumptuous” for a cable news show to be sending lists of questions about the Ukraine war to the candidates, but argued that the GOP needs to address how it would handle the most existentially important issue facing the country.

“No one else in the media seemed to be asking them, and we thought we should,” Carlson said.

Carlson received responses from former President Donald Trump, Florida Gov. Ron DeSantis, former Vice President Mike Pence, South Dakota Gov. Kristi Noem, Texas Gov. Greg Abbot, former New Jersey Gov. Chris Christie, Sen. Tim Scott, R-S.C. and entrepreneur Vivek Ramaswamy.

Of the respondents, Trump reiterated his well-publicized position that Ukraine and Russia need to negotiate a U.S.-brokered peace deal immediately.

“The President must meet with each side, then both sides together, and quickly work out a deal. This can be easily done if conducted by the right President. Both sides are weary and ready to make a deal,” Trump said. “The meetings should start immediately, there is no time to spare. The death and destruction MUST END NOW!”

While Trump’s position on the matter is clear, other leading Republicans have been relatively tight-lipped on Ukraine. That changed with DeSantis telling Carlson that he does not believe supporting Ukraine is a “vital” national interest—a declaration that earned him reprobation among in the war-friendly mainstream media.

Noem and Abbott also expressed a relatively non-interventionist position on Ukraine. Noem said the government is already “over-extended” in the amount of aid it’s provided to Ukraine, while Abbott said the Biden administration’s “blank check foreign policy” has failed.

Scott was more hawkish on the issue, saying that “degrading the Russian military is in our vital national interest”—though, as Carlson noted, he didn’t explain why that is.

Christie and Pence were the most hawkish. Christie said Russia’s invasion of Ukraine was a direct threat to America, and that the U.S. government should help “defeat Russian forces.”

Pence made similar statements, adding that “there is no room for Putin apologists in the Republican Party”—a comment Carlson took as a jab against his show.

Meanwhile, Ramaswamy was verbose but unclear on what exactly his position is on what role the U.S. should play in Ukraine. He said in the long run, the U.S. should seek energy independence so it doesn’t have to do business with “petro dictators.”

Carlson said he did not receive responses from former CIA Director Mike Pompeo, former UN ambassador Nikki Haley, former Arkansas Gov. Asa Hutchinson, New Hampshire Gov. Chris Sununu or former U.S. diplomat John Bolton.

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

Woke, Broke Silicon Valley Bank Gave $73.5M to BLM: Claremont Institute

Ezekiel Loseke
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Woke, Broke Silicon Valley Bank Gave $73.5M to BLM: Claremont Institute

(Ezekiel Loseke, Headline USA) The conservative think tank, the Claremont Institute, has begun tracking corporations that donate to Black Lives Matter.

One of the bombshell revelations to come from the report showed that embattled, woke and broke Silicon Valley Bank gave nearly $73.5 million to the “BLM Movement & Related Causes.”

“Best investment they ever made,” cracked Bill Speros, senior betting analyst and Boston Herald columnist.

The massive donated or pledged largesse upward of $74 million to the radical activist group, “is yet another indication that SVB was focused on woke virtue signaling instead of protecting their customers’ deposits,” Will Hild, the executive director of Consumers’ Research, told The Federalist.

The Claremont database provides the name of the donating company, the amount donated and a link to a press-release and/or news story covering the donation. The project is aligned with the mission of the Center for the American Way of Life.

The project is housed in the Center for the American Way of Life, and is entitled the Black Lives Matter Funding Database.

“The mission of the Claremont Institute Center for the American Way of Life is to refute woke doctrines, reclaim America’s institutions, and form a new Right,” according to an email announcing the launch of the project from The Claremont Institute.

Black Lives Matter has received $82.9 billion from corporate donors, according to the database. The Institute made clear exactly how much money this is.

“As a point of reference, in 2022, Ford Motor Company’s profits were $23 billion dollars,” it wrote. “Moreover, $82.9 billion dollars is more than the GDP of 46 African countries.”

This number includes $123 million given directly to the BLM organization itself, with the rest of the money going to affiliated organizations. The Institute explained that this money comes from some of the best-known American companies.

“Everyone from Coca-Cola to Google is complicit,” it wrote. “Among the biggest contributors is JPMorgan Chase, which pledged $30 billion to its ‘Racial Equity Commitment,’ which includes billions in targeted investments to ‘close the racial wealth gap’ and ‘build diversity into the supply chain.’”

“Microsoft also pledged $244 million to similar causes, including $250,000 to bail funds for rioters.”

The Institute claimed that the BLM tracking project is one of a kind.

“Until the release of Claremont’s BLM database, there has been no systematic attempt to collate and centralize corporate giving to the greatest shakedown of the American economy by left-wing activists,” according to the group’s email. “We hope that the information brought to light by our database proves useful to those wishing to hold companies accountable for their actions.”

Headline USA’s Mark Pellin contributed to this report

Groomer Makes High School Students Write Essay on Their ‘Sexual Fantasies

Dmytro "Henry" Aleksandrov
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Groomer Makes High School Students Write Essay on Their ‘Sexual Fantasies

(Dmytro “Henry” Aleksandrov, Headline USA) An Oregon high school received a backlash from parents after they learned that a health teacher was revealed to be a groomer who was telling his students to write a short story about a sexual fantasy.

The description of the assignment that was written by Kirk Miller, a groomer, health teacher and football coach at Churchill High school in Eugene, stated that a short story should not “involve penetration of any kind or oral sex,” but that students should reference at least three items from a list of suggestions including “romantic music, candles, massage oil, feathers, a feather boa, flavored syrup, etc.”

“Why a teacher and coach feels entitled to the sexual fantasies of minor-aged male and female students is beyond my understanding. This is completely inappropriate and sickening,” one parent who shared the screenshot of the assignment on Facebook wrote.

“Can you imagine having to look your teacher or coach in the eye knowing he has knowledge of your most intimate imaginations? This has NO BUSINESS in school or anywhere else. I am sharing this to bring attention to what’s going on and will be sharing it elsewhere as well.”

That wasn’t the only time when the deviant wanted to know about the sexual fantasies of kids. Katherine Rogers’s 16-year-old daughter who attends the school but wasn’t in Miller’s class was told, along with her classmates, to complete an assignment titled “With Whom Would You Do it,” in which students were supposed to say with whom they would perform different sexual acts, ranging from kissing to oral sex, according to the Post Millennial.

Rogers said that students felt “mortified, awkward, and creeped out,” by such assignments, with some students deciding to write from the point of view of Kung Fu Panda to avoid being too personal.

As soon as parents started to push back against groomers, Principal Missy Cole said that the school and Eugene school district would review the high school health curriculum. Cole also added that the assignment has been removed from the class syllabus and that students will not be graded on the assignment.

However, Rogers questioned how the despicable assignment even became a part of the curriculum in the first place.

“The district reviews these curriculums before they get approved, right?” Rogers asked. “Did they actually read this? If this was reviewed, how did it slip through the cracks? I could see this easily becoming a national scandal.”

COMMENT: Why We Should Let Bad Banks Fail

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COMMENT: Why We Should Let Bad Banks Fail

(Peter Jacobsen, FEE) By now, you’ve likely heard about regulators closing down Silicon Valley Bank and now Signature Bank as well.

While I’m not going to go into all the details, the basic story is described well in this article on Seeking Alpha. Essentially, SVB received a large influx of deposits as the Federal Reserve flooded the market with dollars during COVID.

From there, SVB went out and bought government bonds to store that money. But then, the Federal Reserve started enacting policies which moved interest rates up. The problem? As interest rates rose, the bonds SVB purchased in the past declined in value.

Bond prices and the interest rate have an inverse relationship. If interest rates increase, you can earn a higher return on financial assets purchased today. When that happens, bonds issued at a previously lower rate must sell at a discount to compete.

So when rates rose, SVB’s assets (composed largely of old lower-rate government bonds) plummeted in value.

Let Losers Lose

The key question now is, what are we going to do about it?

I have a modest proposal—let them fail.

Allowing banks to fail may sound extreme, but it’s really the most reasonable solution. It’s true there will be some costs if the banks fail. Any time a business fails, other investors tied financially to the company lose.

But here’s the rub—people who invest in bad businesses should lose. SVB’s failure is a reflection of the fact that it was a wealth shredder. It took depositors’ perfectly good cash, and converted it into now severely devalued bonds.

Banks that destroy wealth shouldn’t be allowed to continue to do so indefinitely. And when depositors make a “run” on bad banks, they’re performing a public service.

At this point, a bank bailout not only would mean the taxpayers will be left holding the bag for bankers’ mistakes—it would mean screwing up incentives in the banking industry even more.

Hazardous Handouts

To see the incentive problem, consider an example. Imagine a world where, no matter the circumstances, the government will pay to fix cars after every accident. What do you think this would do to the number of car accidents per year? It would sky-rocket.

If you never need fear paying a price for crashing your car, why drive carefully? There is still some incentive to avoid serious accidents due to injury, but the point is this system lowers the cost of risky behavior, and therefore lowers an individual’s incentive to be careful. Economists call this a moral hazard problem.

And this is the primary issue with bank bailouts. If the government sets a precedent that all bank failures will be ameliorated by using taxpayer money, banks will engage in risky behavior which they otherwise would not. Why be cautious with depositors’ money if you get a bailout no matter what?

You cannot have a healthy free market when you privatize the profits and socialize the losses. The taxpayer’s wallet, if treated like common property, will be subject to the tragedy of the commons.

And I don’t just mean that I’m against a formal bailout to save investors. I’m opposed to taxpayer dollars being reallocated to save the bottom line of anyone involved. Some may worry about small depositors, but the FDIC already insures up to $250,000 (regardless of what I or anyone else thinks about that policy), meaning every depositor who has less than that in their account is getting their money back already.

And for the larger depositors? Business deals have risks. We cannot pay people to ignore that fact. If you want to house more than a quarter of a million dollars in any one institution you should be very careful in picking.

If some individual wants to come along and buy SVB or these other failing banks and try to resuscitate them, I invite them to try. Maybe there is a profit opportunity there. But if the choice is between a bailout and letting them fail, the answer is clear to me.

If they can have the profits, they should have the losses as well.

Fla. College Student Denied Mental Health Services Because He Was White

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Fla. College Student Denied Mental Health Services Because He Was White

(Headline USA) A student at the University of South Florida was reportedly denied mental health services because he was white. 

Last year, Andrew Davis reached out to the school about attending an “Understanding Self and Others” group therapy meeting, according to Campus Reform. None of the available sessions worked with his schedule, except for the “BIPOC” meeting time. He reached out to university officials to see if he could attend this session.

“I am interested in attending a USO group meeting after completing the pre-group appointment but the only day/time that works for me is Wednesdays during the BIPOC students-only group,” Davis inquired in an email. “I am not a BIPOC student but was wondering if I would still be able to attend?”

The USF Counseling Center responded: “Unfortunately, we do need to keep this space specific to BIPOC folks … Hopefully you’ll be able to catch another one either during Winter break and/or next semester.”

In October 2022, Davis filed a complaint with USF’s Office of Compliance & Ethics, accusing the school of denying him services because of his skin color. He immediately faced hostility from campus administrators, reported Campus Reform.

Equal Opportunity Officer Kenneth Thomas, for example, “was accusatory” and “asked me if I even knew what BIPOC meant and if I understood the importance of those groups having their own discussion,” Davis said.

“He did not seem concerned about my complaint and was more worried about the University’s ability to continue these groups,” Davis added. 

Davis did not receive a response regarding his complaint until Feb. 8 of this year.

“The Counseling Center will not prohibit any category of student [from] participating in specialized counseling groups unless specific exception, or a medical mandate is identified that may support exclusivity,” the school responded. 

Woke BuzzFeed Goes Broke, Loses $106.4M

Dmytro "Henry" Aleksandrov
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Woke BuzzFeed Goes Broke, Loses $106.4M

(Dmytro “Henry” Aleksandrov, Headline USA) BuzzFeed, one of the more aggressively woke media outlets, announced its financial results for the full year and fourth quarter on Monday, reporting a huge net loss.

BuzzFeed claimed that one of the major reasons why it lost a lot of money is because it kept a majority of its cash and cash equivalents at the recently-defunct Silicon Valley Bank since the company is located in California, according to the Post Millennial.

The statement also quoted a joint release from the US Department of the Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation, claiming that depositors would be fully protected from the bank’s folding.

“There’s no denying that 2022 was a tough year for digital media. The challenges we faced in Q4 are also impacting us in Q1 2023, and it is clear we have more work to do to realize the full potential of our combined brand portfolio,” Jonah Peretti, BuzzFeed Founder & CEO, wrote, admitting that the fourth quarter was particularly difficult for the company.

“As we work to address these challenges, our value proposition continues to resonate strongly in the marketplace,” Peretti assured. “With iconic brands, a massive audience and a differentiated technology platform, we occupy a unique position in the ecosystem of audiences, creators, platforms and advertisers. And, our work in the exciting new areas of creators and artificial intelligence are continuing to lead the way in defining the future of media.”

BuzzFeed also lost “$201.3 million, including a non-cash goodwill impairment charge of $102.3 million, compared to net income of $25.9 million in 2021.”

“During the latest quarter, BuzzFeed posted a non-cash goodwill impairment charge of $102.3 million, in part due to a steep decline in the value of the company’s stock price in Dec. 2022,” according to the Hollywood Reporter.

Buzzfeed brought in $134.6 million in overall revenues during the fourth quarter, with the company ending the quarter with $106 million in net losses, compared to a year-earlier profit of $41.5 million.

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