Though the exact cause of a container ship&#8217;s collision with the Francis Scott Key Bridge in Baltimore, Maryland — which caused the structure&#8217;s collapse — is under debate, the disaster that has claimed at least two lives and caused an untold amount of economic damage has drawn attention to the state of America&#8217;s infrastructure.
The bridge itself accommodated almost 30,000 vehicles each day, and the Port of Baltimore, which will be heavily disrupted by the collapse and reconstruction, saw 52.3 million tons of foreign cargo and 11.7 million tons of general cargo coming into the port in 2023.
President Joe Biden has already <a href="https://www.dailywire.com/news/biden-pushes-for-federal-gov-to-pay-for-entire-cost-of-rebuilding-baltimore-bridge-but-says-it-will-take-some-time" target="_blank" rel="noopener">promised</a> that the federal government will foot the bill for the repairs to the bridge.
“It is my intention that the federal government will pay for the entire cost of reconstructing that bridge, and I expect Congress to support my effort,” Biden said. “This is going to take some time, and the people of Baltimore can count on us though to stick with them at every step of the way until the port is reopened and the bridge is rebuilt.”
The bridge was originally built in the 1970s at an estimated cost of $141 million, which is around $743 million in today’s dollars, CNS Maryland <a href="https://cnsmaryland.org/2024/03/26/the-history-of-baltimores-key-bridge/#:~:text=Bridge%20construction,%24743%20million%20in%20today's%20dollars." target="_blank" rel="noopener">reported</a>. Experts have estimated that roughly $15 million a day in economic activity will be disrupted as a result of the disaster, <a href="https://www.businessinsider.com/baltimore-port-closure-could-cost-15-million-per-day-2024-3" target="_blank" rel="noopener">according</a> to Business Insider.
However, it seems like every election year politicians of both parties clamber to pitch grand infrastructure projects that promise to make voters&#8217; commutes smoother and produce all-important &#8220;shovel-ready&#8221; jobs. Such an infrastructure overhaul was one of the pillars of Biden&#8217;s presidential campaign in 2020, and, on paper at least, he delivered.
Two gigantic pieces of legislation passed during Biden&#8217;s two years in office, the Infrastructure Investment and Jobs Act (IIJA) in late 2021 and the Inflation Reduction Act in 2022, invested over a trillion dollars into multiple sectors of infrastructure — everything from roads to waterways to broadband — over the next decade, <a href="https://www.brookings.edu/articles/the-start-of-americas-infrastructure-decade-how-macroeconomic-factors-may-shape-local-strategies/" target="_blank" rel="noopener">according</a> to Brookings.
<div id="attachment_717107" style="width: 979px" class="wp-caption alignnone"><img aria-describedby="caption-attachment-717107" decoding="async" loading="lazy" class="size-large wp-image-717107" src="https://dw-wp-production.imgix.net/2024/04/GettyImages-1353523670-969x576.jpg" alt="WASHINGTON, DC - NOVEMBER 15: U.S. President Joe Biden (C) signs H.R. 3684, the Infrastructure Investment and Jobs Act, during a ceremony on the South Lawn at the White House on November 15, 2021 in Washington, DC. (Photo by Chen Mengtong/China News Service via Getty Images)" width="969" height="576" srcset="https://dw-wp-production.imgix.net/2024/04/GettyImages-1353523670-969x576.jpg 969w, https://dw-wp-production.imgix.net/2024/04/GettyImages-1353523670-300x178.jpg 300w, https://dw-wp-production.imgix.net/2024/04/GettyImages-1353523670-768x457.jpg 768w, https://dw-wp-production.imgix.net/2024/04/GettyImages-1353523670.jpg 1024w" sizes="(max-width: 969px) 100vw, 969px" />Chen Mengtong/China News Service via Getty Images</div>
In truth, only a little over $110 billion in the IIJA will actually go toward repairing roads and bridges, the Washington Post <a href="https://www.washingtonpost.com/business/2021/08/10/senate-infrastructure-bill-what-is-in-it/" target="_blank" rel="noopener">noted</a>. The rest is parceled out among a myriad of other projects, most notably railroads, broadband, and utility infrastructure.
In 2023, the Federal Highway Administration reported that over 42,000 bridges across the U.S. were in &#8220;poor&#8221; condition, <a href="https://www.washingtonpost.com/politics/2024/03/26/baltimore-bridge-collapse-cost-infrastructure/" target="_blank" rel="noopener">according</a> to WaPo. Between 2020 and 2023, the number of U.S. bridges rated &#8220;good&#8221; increased in only 11 states, while the number considered to be in &#8220;poor&#8221; condition increased in 37 states. While 43,000 bridges saw an improved rating in 2023 compared t0 2020, a whopping 70,000 received a lower rating. Almost 13,000 bridges were downgraded from &#8220;fair&#8221; condition to &#8220;poor,&#8221; but only 10,000 bridges were improved from a &#8220;poor&#8221; rating.
American Road and Transportation Builders Association said that a full third of U.S. bridges are in need of significant repairs or replacement, while 7% of bridges are &#8220;structurally deficient,&#8221; the Council on Foreign Relations <a href="https://www.cfr.org/backgrounder/state-us-infrastructure" target="_blank" rel="noopener">reported</a>.
The American Society of Civil Engineers (ASCE) releases a report card every 5 years on the overall health of the nation&#8217;s infrastructure, giving it an overall &#8220;C-&#8221; grade in 2021. The group&#8217;s diagnosis of bridges and roads in particular does not paint a rosy picture.
The nation&#8217;s roads <a href="https://infrastructurereportcard.org/wp-content/uploads/2017/01/Roads-2021.pdf" target="_blank" rel="noopener">received</a> a &#8220;D&#8221; grade from the group, which noted that 40% of public roads are in mediocre or poor condition. Commuters are forced to spend nearly $130 billion a year in repairs and operating coasts because of the prevalence of poor quality roads, and 17% of all vehicle miles were driven on roads deemed to be in &#8220;poor condition.&#8221;
Bridges <a href="https://infrastructurereportcard.org/wp-content/uploads/2020/12/Bridges-2021.pdf" target="_blank" rel="noopener">received</a> a slightly higher score from the ASCE, a &#8220;C,&#8221; but the group still expressed a great deal of concern. Over 40% of U.S. bridges are over half a century old, the ASCE stated, and the backlog of repairs in 2021 stood at $125 billion. The report advised a much higher investment level over the next few decades to improve the situation.
&#8220;At the current rate of investment, it will take until 2071 to make all of the repairs that are currently necessary, and the additional deterioration over the next 50 years will become overwhelming,&#8221; the ASCE report said.
The ASCE <a href="https://infrastructurereportcard.org/wp-content/uploads/2020/12/2021-IRC-Executive-Summary-1.pdf" target="_blank" rel="noopener">estimated</a> in 2021 that the nation&#8217;s &#8220;infrastructure investment gap&#8221; had increased to almost $2.6 trillion over the next 10 years. The organization warned that the deficit could cost the U.S. $10 trillion in GDP, 3 million jobs, and $2.4 trillion in exports by 2039. It noted that the infrastructure investment gap, if allowed to continue, would cost the average American family $3,300 a year in higher costs.
<div id="attachment_717119" style="width: 874px" class="wp-caption alignnone"><img aria-describedby="caption-attachment-717119" decoding="async" loading="lazy" class="size-large wp-image-717119" src="https://dw-wp-production.imgix.net/2024/04/GettyImages-1232147264-864x576.jpg" alt="FREDERICKSBURG, VA - APRIL 6: In an aerial view, vehicles on Interstate 95 travel past a construction project to add three lanes to the I-95 Rappahannock River Crossing on April 6, 2021 in Fredericksburg, Virginia. The site of the work is a vital chokepoint for cars and freight trucks moving both north and south along the East Coast. At the end of March, President Joe Biden introduced a $2 trillion plan to overhaul and upgrade the nation's infrastructure. The plan aims to revitalize the U.S. transportation infrastructure, water systems, broadband internet, make investments in manufacturing and job training efforts, and other goals. (Photo by Drew Angerer/Getty Images)" width="864" height="576" srcset="https://dw-wp-production.imgix.net/2024/04/GettyImages-1232147264-864x576.jpg 864w, https://dw-wp-production.imgix.net/2024/04/GettyImages-1232147264-300x200.jpg 300w, https://dw-wp-production.imgix.net/2024/04/GettyImages-1232147264-768x512.jpg 768w, https://dw-wp-production.imgix.net/2024/04/GettyImages-1232147264.jpg 1024w" sizes="(max-width: 864px) 100vw, 864px" />Drew Angerer/Getty Images</div>
Repairing the nation&#8217;s bridges represents such a huge stumbling block for the federal government because of its inability to appropriate the necessary funds to tackle traditional infrastructure (large portions of Biden&#8217;s infrastructure packages went toward green initiative) and the skyrocketing cost of those necessary repairs.
“I look at South Carolina when the infrastructure bill came through. We only got about $1 billion more than we otherwise would have over a five-year period,” Rep. Nancy Mace (R-S.C.) <a href="https://www.washingtonpost.com/politics/2024/03/26/baltimore-bridge-collapse-cost-infrastructure/" target="_blank" rel="noopener">told</a> Newsmax in the wake of the Baltimore disaster. “I can barely build a bridge in my district for $1 billion.”
Between October 2020 and September 2022, the average cost for highway construction projects increased by 50%, and highway construction costs are almost 3 times higher than they were in 2003, <a href="https://enotrans.org/article/highway-construction-costs-have-risen-50-in-two-years/" target="_blank" rel="noopener">according</a> to the National Highway Construction Cost Index (NHCCI). The index <a href="https://www.constructiondive.com/news/high-prices-road-builders-2024-construction-labor/703909/#:~:text=The%20National%20Highway%20Construction%20Cost,these%20high%20prices%2C%20said%20Black." target="_blank" rel="noopener">reached</a> an all-time high in the second quarter of 2023.
The Francis Scott Key Bridge collapse isn&#8217;t the first major infrastructure disaster of Biden&#8217;s tenure. In 2023, a Norfolk Southern train <a href="https://www.dailywire.com/news/controlled-burn-of-toxic-chemicals-that-unleashed-mushroom-cloud-over-east-palestine-wasnt-necessary-federal-official-says" target="_blank" rel="noopener">derailed</a> in East Palestine, Ohio, resulting in a controlled burn of toxic chemicals that were released into the air and affected local residents.
Biden was slammed for waiting a year before he visited East Palestine and was met with disappointed East Palestine residents when he made the trip to the small town last month. The total cost of the derailment is <a href="https://www.insurancejournal.com/news/midwest/2024/01/31/758843.htm#:~:text=The%20railroad%20now%20estimates%20the,additional%20penalties%20that%20haven't" target="_blank" rel="noopener">estimated</a> at $1.1 billion.
Despite two major infrastructure initiatives within the last 4 years, the long-term health of America&#8217;s roads and bridges does not look hopeful. Without a major decrease in the cost of repairs and an increase in infrastructure investments, the deterioration will continue, perhaps even accelerate. A poor network of roads and bridges will not only directly pass costs on to normal Americans, but also affect the nation&#8217;s economy as a whole, accentuating our financial woes. And perhaps most importantly, it will almost certainly increase the rate at which we see deadly disasters like the one in Baltimore.

Baltimore’s Francis Scott Key Bridge Collapses After Being Struck By Cargo Ship

Baltimore Bridge Collapse Highlights The Sorry State Of American Infrastructure

Baltimore

Francis Scott Key Bridge

Inflation Reduction Act

Infrastructure

Joe Biden

Readers Pass

U.S.

Democrat businessman Gary Cohn, who served as former President Donald Trump&#8217;s Director of the National Economic Council, said during an interview over the weekend that consumers were &#8220;completely right&#8221; to be angry about the <a href="https://www.dailywire.com/topic/economy" target="_blank" rel="noopener">inflation</a> that President Joe Biden&#8217;s American Rescue Plan has caused.
Cohn made the remarks during a Sunday interview on CBS News&#8217; &#8220;Face The Nation&#8221; with Margaret Brennan while talking about Biden&#8217;s recent remarks about billionaires.
Responding to Biden&#8217;s claims that billionaires do not pay any taxes in the U.S., Cohn noted that the claim was grossly inaccurate and that any billionaire who has an income in the U.S. is paying at least 20 percent in taxes.
&#8220;We do a very good job in this country of taxing income. That&#8217;s what the Constitution talks about. The Constitution talks about taxing your income,&#8221; he said. &#8220;There is no income in this country unless you buy a tax-free bond that doesn&#8217;t get taxed at a minimum of 20 percent. Whether it&#8217;s interest or dividends or capital gains. So, there&#8217;s no billionaire in this country that has income that is not paying at least 20 percent.&#8221;
Brennan then noted how Biden was trying to rile people&#8217;s anger up against corporations, claiming that they were &#8220;taking advantage of the little guy.&#8221;
&#8220;Let&#8217;s talk about inflation for a minute because I think there [are] really important concepts for everyone to understand,&#8221; Cohn said. &#8220;Inflation has a compounding effect. Meaning, as you look at inflation year over year, you&#8217;re adding up those numbers. You&#8217;re not starting at a zero every year.&#8221;
&#8220;So, if we had 6 percent inflation last year &#8230; and now we have 4 percent inflation, that&#8217;s 10 percent inflation,&#8221; he noted. &#8220;So, if you take a basket of groceries at the beginning of 2020, just a simple basic basket that costs $100, it costs well over $125 today because those 4 percent one year and 7 percent one year and 7 percent the next year, they add up. They&#8217;re cumulative. So, there&#8217;s a huge cumulative effect to inflation.&#8221;
Brennan responded, &#8220;So, when people are being told, &#8216;consumers, you&#8217;re wrong, inflation&#8217;s heading&#8211;&#8216; — no, they&#8217;re right, it is actually more expensive.&#8221;
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&#8220;They&#8217;re completely right,&#8221; Cohn responded. &#8220;They&#8217;re completely right.&#8221;
Cohn added that consumers were angry because they were &#8220;losing purchasing power&#8221; because of inflation and people were not able to invest in their futures because of the high interest rate environment that was triggered by the inflation that Biden caused.
&#8220;So, people got very frustrated because the costs of their everyday lives got very expensive and the cost of investing in their future by buying a home got nearly impossible,&#8221; he added.
WATCH:
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
WATCH: Gary Cohn decimates Joe Biden’s inflation narrative &amp; Bidenomics:
“Inflation has a compounding effect. Meaning as you look at inflation year-over-year, you’re adding up those numbers. You’re not starting at a 0 every year. So if we had 6% inflation last year and now we… <a href="https://t.co/Q0K2QjUNRJ">pic.twitter.com/Q0K2QjUNRJ</a>
&mdash; Steve Guest (@SteveGuest) <a href="https://twitter.com/SteveGuest/status/1766907240580051119?ref_src=twsrc%5Etfw">March 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

US-ECONOMY-MILKEN

Democrat Economist Gary Cohn: Consumers ‘Completely Right’ To Be Angry Over Biden Inflation

Economy

Inflation

President Joe Biden’s signature climate bill, the <a href="https://www.dailywire.com/topic/inflation-reduction-act" target="_blank" rel="noopener">Inflation Reduction Act</a> (IRA), has been a boon for China’s battery market.
Biden signed the bill into law in August 2022. The legislation created a bevy of green energy subsidies meant to transition United States energy usage away from fossil fuels and, according to Biden weeks before he signed the IRA, “compete with China.”
Since the law was enacted, imports of Chinese components for electric vehicles to the U.S. have skyrocketed, according to a review of government data by <a href="https://freebeacon.com/energy/bidens-inflation-reduction-act-meant-to-counter-china-prompted-explosion-in-chinese-battery-imports/" target="_blank" rel="noopener">The Washington Free Beacon</a>. The data call into question whether the IRA has failed at one of its key goals.
China is a major supplier of rare earth minerals that are used in green energy technology, such as solar panels, electric cars, and wind turbines. While imports for components that use rare earth minerals have risen over the course of Biden’s presidency, the increase became more pronounced after the implementation of the IRA.
Chinese lithium-ion battery imports to the U.S. averaged $473 million per month from January 2021 when Biden took office through July 2022. The next month, Biden signed the IRA into law. Since then, Chinese lithium-ion battery imports have averaged over $1 billion per month, according to the Free Beacon.
In addition to batteries, China is benefitting from the IRA through mining companies in Africa.
“Nearly 70 percent of cobalt is produced in Africa, mainly in the Congo,” James Madison Institute senior vice president Sal Nuzzo told the Free Beacon. “Okay, so the country may be friendly. However, the mine is owned by a Chinese conglomerate or a multinational controlled by the Chinese government. So you can put the regulation in place — it&#8217;s got to be sourced from a friendly country. But who owns the facility that the materials are coming out of?”
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Aside from questions over its impact on China, the IRA has come under fire recently in connection with sticky, high inflation in the U.S., according to the <a href="https://www.ft.com/content/a74b625c-0a49-43e7-a982-5584df64f6c7">Financial Times</a>. Georgia Governor Brian Kemp has blamed the IRA for harming his state’s economy by pushing prices higher too quickly.
“A lot of what the IRA has done, besides throwing money at something that was coming anyway, is also heated the market up and driven costs to go up,” Kemp told the Financial Times. “It’s really tried to manipulate the market, versus the market moving in that direction.”
Because of the IRA, Georgia’s economy has received about $15 billion-worth of investment in green energy projects, largely in the form of manufacturing projects, according to the Treasury Department. Despite the investment, polls show Biden struggling to win over American voters on the issue of his handling of the economy. Americans overall disapprove of Biden&#8217;s handling of the economy by 56.8% to 39.4%, according to RealClearPolitics&#8217; <a href="https://www.realclearpolitics.com/epolls/other/sotu/PresidentBidenApprovalIssues.html" target="_blank" rel="noopener">polling average</a>.

Joe Biden’s Signature Climate Bill Has Been A Boon To China’s Battery Market

China

Executive

Politics

Washington D.C.

NFL star <a href="https://www.dailywire.com/topic/travis-kelce">Travis Kelce</a> is going Hollywood by signing on as producer for a new <a href="https://www.dailywire.com/topic/movies">film</a>, “My Dead Friend Zoe.” The project is notable because it’s the first movie to take advantage of President Joe Biden’s renewable energy tax credits for financing, per <a href="https://variety.com/2024/film/news/travis-kelce-my-dead-friend-zoe-financed-energy-tax-credits-1235908057/">Variety</a>.
The outlet noted that the <a href="https://www.dailywire.com/topic/hollywood">indie comedy</a> cost less than $10 million to make. “My Dead Friend Zoe” follows a female Afghanistan veteran who confronts her grandfather, a Vietnam veteran, at the family lake house. The movie premieres March 9 at SXSW. It stars Sonequa Martin-Green, Natalie Morales, Ed Harris, and Morgan Freeman.
The movie used funds generated by green energy entrepreneur Mike Field’s sale of surplus tax credits, Variety noted, in the first example of the film industry utilizing Biden’s 2022 <a href="https://www.dailywire.com/topic/inflation-reduction-act">Inflation Reduction Act</a> for film financing. Field is listed as another producer of the dark comedy.
“Hollywood is risky, right? On a scale of one to 10, Hollywood, it is a 9.5. Especially in terms of independent film,” one of the movie’s producers Ray Maiello said. “These federal tax credits take the risk down to like a five.”
“[Field] and I wanted to branch out and we’ve been talking about [expanding] for years. And then Biden really incentivized it,” he continued. “Biden saw that people can’t plan what their tax liabilities are going to be. People don’t want to take risks. And so he really opened it up with these federal tax credits and we’re combining that with Hollywood. That’s the idea.”
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Kelce, Maiello, and Field are again using these funds to finance the upcoming documentary “King Pleasure,” which is about renowned artist Jean-Michel Basquiat.
The Kansas City Chiefs tight end is fresh off a big Super Bowl win on Sunday and has indicated he’ll return next season. But he’s not the first professional football player to branch out into other arenas. Variety noted how Tom Brady played himself in the comedy “80 for Brady” and was a producer on the film. 
The Paramount Pictures movie grossed $40 million worldwide against a $28 million budget despite receiving mixed reviews from critics.

Travis Kelce

Travis Kelce Signs On As Producer For Movie Made Using Biden’s Green Energy Tax Credits: Report

Travis Kelce Announced As Producer For Movie Made Using Biden’s Green Energy Tax Credits: Report

Hollywood

Movies

Climate initiatives laid out in President Joe Biden’s Inflation Reduction Act (IRA) come with a bigger price tag than anticipated: over $400 billion more, per the latest estimates. 
The Congressional Budget Office (CBO) <a href="https://www.cbo.gov/publication/59710#data">revealed</a> the increased $428 billion cost in its budget and economic outlook for the next decade. The agency admitted that its projections were subject to change, citing variables such as the pace of deployment and use of low-emissions technologies and electric vehicles, as well as the number of taxpayers who have yet to claim certain tax credits enacted in the IRA. 
“The budgetary effects of energy-related tax provisions remain highly uncertain,” stated CBO. 
The CBO originally <a href="https://www.cbo.gov/system/files/2022-08/hr5376_IR_Act_8-3-22.pdf">estimated</a> in 2022 that the IRA’s climate and energy provisions would cost around $400 billion. However, other corporations and organizations said that number was far too low. 
Shortly after CBO issued its estimate, the global investment banking company Credit Suisse <a href="https://www.credit-suisse.com/about-us-news/en/articles/news-and-expertise/us-inflation-reduction-act-a-catalyst-for-climate-action-202211.html">estimated</a> the climate initiatives would cost over $800 billion. That number is closer to CBO’s most recent estimate. 
Other recent, outside estimates have been higher. An August report from the University of Pennsylvania Wharton School of Business <a href="https://www.dailywire.com/news/bidens-green-energy-boondoggle-keeps-getting-bigger">predicted</a> that the IRA’s climate and energy provisions would cost taxpayers over $1 trillion.
The CBO explained that technical revisions resulted in the substantially higher projections, most of which ($224 billion) <a href="https://www.cbo.gov/system/files/2024-02/59710-Outlook-2024.pdf">arose</a> from clean vehicle tax credits and revenues from excise taxes on gasoline. Of that total, $151 billion came from reductions in projected revenues and $73 billion came from increases in projected outlays. 
Much of the higher projections came from the Environmental Protection Agency (EPA) proposal last year to impose more stringent vehicle emissions standards beginning with the 2027 model year. 
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The CBO further noted that Treasury guidance determined that credits claimed by businesses for leased vehicles weren’t subject to restrictions applied to credits claimed directly by individuals, such as a buyer’s income, eligible vehicle pricing, critical mineral sourcing locations, battery component manufacturer locations, and final vehicle assembly locations. 
“Dealers and buyers have responded to that guidance by leasing more electric vehicles than [the Joint Committee on Taxation] anticipated when preparing its 2022 estimates,” said CBO. 
Apart from the cost of Biden’s climate initiatives, the CBO report didn’t lend a positive outlook for the nation’s economy.
The CBO projected that the nation’s deficit would steadily mount, reaching $2.6 trillion in 2034 from $1.6 trillion in this fiscal year. In relation to GDP, the deficit is projected to reach 6.1% in 2034. The CBO said that these deficit levels were similar to those experienced during some of the greatest national crises.
“Since the Great Depression, deficits have exceeded that level only during and shortly after World War II, the 2007-2009 financial crisis, and the coronavirus pandemic,” read the report. 
Debt held by the public would increase to 116% of GDP by 2034 ($48.3 trillion) and would continue to grow to 172% of GDP in 2054, up from the 99% projected at the end of this year ($26.2 trillion). 
According to the CBO, that 2034 estimate would mark an all-time historical high for the nation, a record reached due to increases in mandatory spending and interest costs outpacing declines in discretionary spending as well as revenue and economic growth.

Climate Initiatives In Biden’s Inflation Reduction Act Will Cost Over $400 Billion More Than Initially Expected, CBO Says

Climate Change

Congressional Budget Office (CBO)

It&#8217;s time for your daily dose of Bidenomics — where the rules are made up and the points don&#8217;t matter.
In today&#8217;s lesson, we&#8217;ll learn how the U.S. poverty rate increasing for the first time in more than a decade is actually a sign of a booming economy or something.
According to the U.S. Census Bureau, a whopping 12.4% of Americans lived in poverty in 2022. That&#8217;s up from 7.8% in 2021. In fact, it was the first increase in the U.S. poverty rate in 13 years.
That news comes as the Census also reported that the U.S. real median household income decreased by 2.3% to $74,580 in 2022. Meanwhile, year-over-year inflation rose 7.8%, <a href="https://www.foxbusiness.com/economy/us-household-income-fell-2022-census-data-shows" target="_blank" rel="noopener">per</a> Fox Business.
The Biden administration has long claimed that his policies are working and that his spending plans have juiced the American economy. Meanwhile, prices have increased <a href="https://x.com/TimMeadsUSA/status/1704138531386323270?s=20" target="_blank" rel="noopener">more than 17%</a> he took office.
In August, inflation continued to tick upward.
In a statement given to Townhall.com, Job Creators Network President and CEO Alfredo Ortiz said, &#8220;This accelerating inflation, which is nearly twice the Federal Reserve&#8217;s target rate, is another Bidenomics blow to ordinary Americans and small businesses dealing with rapidly rising prices that are lowering their real wages and living standards for two and a half years.&#8221;
Indeed, as <a href="https://rollcall.com/2023/08/02/voters-just-arent-buying-bidenomics/" target="_blank" rel="noopener">explained recently</a> by David Winston, the president of The Winston Group and a GOP adviser, just about everything is more expensive than it was on the day Biden took office.
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Biden&#8217;s solution, Winston correctly points out,  has been &#8220;trying to dress up central planning as America First.&#8221;
The current president even tried to sell his economic agenda as &#8220;BABA&#8221;— Building a Better America. As previously discussed, BABA sounds similar to former President Donald Trump&#8217;s MAGA — Make America Great Again, but like most phony imitations, it has proven to be a crappy product that falls apart under the slightest bit of pressure.
BABA didn&#8217;t really click with the American people, so now he&#8217;s trying to sell his vision for the country as Bidenomics.
It&#8217;s been a great success for America, just ask him.
Whatever he calls it, the results are the same: The American people are worse off today than they were four years ago. The proof is in the pudding — that <a href="https://www.foodandwine.com/news/snack-prices-rising-2022-oreo-mondelez-kraft#:~:text=%22The%20products%20include%20varieties%20of,percent%2C%22%20CNN%20Business%20wrote." target="_blank" rel="noopener">now costs more money</a>, evidently.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.

MILWAUKEE, WISCONSIN – AUGUST 15: U.S. President Joe Biden speaks to guests at Ingeteam Inc., an electrical equipment manufacturer, on August 15, 2023 in Milwaukee, Wisconsin. Biden used the opportunity to speak about his “Bidenomics” economic plan on the one-year anniversary of the Inflation Reduction Act of 2022.

Poverty Rate Increases For First Time In Over A Decade: Bidenomics!

Donald Trump

Poverty

Auto workers in <a href="https://www.dailywire.com/topic/michigan" target="_blank" rel="noopener">Michigan</a> are preparing to go on strike for higher wages at three major U.S. carmakers as the United Auto Workers (UAW) union criticizes President Joe Biden’s handouts for the <a href="https://www.dailywire.com/news/as-auto-strike-looms-biden-admin-announces-15-5-billion-for-electric-vehicle-manufacturers" target="_blank" rel="noopener">electric vehicle industry</a>.
The UAW <a href="https://www.clickondetroit.com/news/local/2023/09/14/live-updates-uaw-strike-looms-hours-before-contracts-expire-with-big-three-automakers/" target="_blank" rel="noopener">says</a> workers at General Motors, Ford, and Stellanits deserve a pay raise of 36%, and unless the union can come to an agreement with the automakers by midnight Thursday, the auto workers will go on strike. Not all of the UAW’s criticisms are directed at Detroit’s three major automakers; the union is also upset with the Biden administration and the Democratic Party for its subsidies to the electric vehicle industry, warning that the rush to push EVs is overlooking the security and protection of the American auto worker.
“UAW members feel abandoned by the Democratic Party,” former UAW President Bob King <a href="https://www.politico.com/news/2023/09/13/biden-labor-ally-threatening-energy-agenda-00115415" target="_blank" rel="noopener">told</a> POLITICO in an interview, saying that Biden’s Inflation Reduction Act has failed to benefit union workers. “I think there’s a segment of the Democratic Party that sees itself as serving corporations rather than the common good. … We’ve had a lot of disappointments.”
POLITICO reported that most of the energy investments made possible by the Inflation Reduction Act are flowing away from Michigan and to more Republican-led <a href="https://www.politico.com/news/2023/08/13/biden-inflation-reduction-act-climate-states-00110940" target="_blank" rel="noopener">states</a>, such as Kentucky, Tennessee, Georgia, and South Carolina. The UAW is also concerned that it will lose members when motor companies invest even more into EVs as EVs usually have fewer parts than gas-powered cars.
The UAW is withholding an endorsement of Biden as it waits to hear back from the administration. UAW President Shawn Fain demanded the Biden administration give the UAW assurances that union workers will be protected as the federal government pushes for higher EV production. Biden, who <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/09/08/remarks-by-president-biden-in-honor-of-labor-unions/" target="_blank" rel="noopener">describes</a> himself as the “most pro-union president&#8221; in history, received the endorsement of the UAW in 2020 as the union typically backs any candidate with a “D” next to their name, but the UAW president said Biden has some more to prove before he gets an endorsement for 2024.
“Actions are going to dictate endorsements, so we’ll see how things continue to play out, and we have a lot of issues to resolve,” Fain <a href="https://transcripts.cnn.com/show/cg/date/2023-09-11/segment/02" target="_blank" rel="noopener">told</a> CNN’s Jake Tapper earlier this week. “There’s a lot with the EV transition that has to happen, and there’s hundreds of billions of our taxpayer dollars that are helping fund this, and workers cannot continue to be left behind in that equation.”
Ever since taking over in the White House in 2021, Biden has strongly pushed for the U.S. to ramp up electric vehicle production in the name of green energy. The White House is <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2023/04/17/fact-sheet-biden-harris-administration-announces-new-private-and-public-sector-investments-for-affordable-electric-vehicles/" target="_blank" rel="noopener">investing</a> in the car industry with the hopes of getting EV sales to make up half of all new vehicle sales by 2030, subsidizing American car companies to help the administration reach its goal.
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Earlier this year, Ford <a href="https://www.dailywire.com/news/ford-gets-9-2-billion-loan-from-biden-admin-for-ev-battery-factories-biggest-check-since-2009-bailouts" target="_blank" rel="noopener">received</a> the largest government check for an automaker since the 2009 bailouts thanks to a $9.2 billion loan intended to help construct three electric vehicle battery plants in the U.S. The Biden administration and Motor Company continue to push EVs even as Ford <a href="https://www.dailywire.com/news/ford-loses-billions-on-electric-cars-embraces-hybrids" target="_blank" rel="noopener">said</a> it expects to lose $4.5 billion from its EV division this year.

Former Union President Says Auto Workers ‘Feel Abandoned By The Democratic Party’ As Union Criticizes Biden’s EV Push

Former Union President Says Auto Workers 'Feel Abandoned By The Democratic Party' As Union Criticizes Biden's EV Push

Auto Companies

Biden Administration

Electric cars

Michigan

Unions

Adam Smith’s “The Wealth of Nations” was published in 1776, the same year as the Declaration of Independence, and it was just as revolutionary. The work explains that in a free enterprise system the free choice of the consumer, like the corollary free vote of the citizen, would determine what products would be produced in the marketplace. Everyone in such a marketplace was free to produce, free to choose, and free to purchase for the benefit of the consumer and to the general benefit and prosperity of the whole society. Smith’s revolutionary work did away with the feudal system of having to have a tyrant’s favor to produce goods in the tyrant’s marketplace, for the despot’s “subjects.” There was no choice.
When Joe Biden took office in January 2021, he <a href="https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html" target="_blank" rel="noopener">immediately attacked</a> our economy’s energy sector via executive orders, administrative regulations, and cutting off federal land leases for energy exploration and development. The effects of <a href="https://www.theguardian.com/us-news/2021/jan/27/joe-biden-climate-change-executive-orders" target="_blank" rel="noopener">such an onslaught</a> were predictable. When you make energy costs higher, every product that is shipped from point A to point B will cost more. Every product produced in a plant that uses electricity will cost more. Every service facility, such as hospitals and schools, will cost more to operate.
So, it was predictable that the price of a barrel of oil, a gallon of gas, and home heating oil would all increase. Each of these costs rippled through the whole economy, creating a national rise in inflation of 12.7% in the first two years of Biden’s presidency.
It was equally predictable that the Democratic Party would blame the increases in costs on “evil” energy companies, and that they would generate a “Climate Bill” to finish the job of taking command and control of the energy sector to save our economy, having first imperiled it. However, there was one sensible Democratic Senator, who knew the bill would increase inflation further, so the original “Climate Bill” was sidelined.
In the original Climate Bill’s stead, just one year ago, came a Trojan horse called “The Inflation Reduction Act,” refashioned as a “gift” that would reduce costs across the economy for hard-working families. In fact, just as the Greeks fashioned a horse to get through the walls of Troy, which they could not breach by other means, the Democrats offered this act as a sales pitch, a fashionable vessel, that contained the same regulatory armies that created the country’s runaway inflation in the first place.
Why would one of America’s political parties do such a thing?
The Inflation Reduction Act (IRA) was <a href="https://www.foxnews.com/politics/biden-admits-inflation-reduction-act-less-inflation-originally-sold-americans" target="_blank" rel="noopener">not passed to reduce inflation</a> nor was it written to reduce global warming. Its real function is to take control of America’s most vital economic sector, one that is literally at the crossroads of the wealth and prosperity of our country. The IRA functions as a means of transferring power through control of the energy sector to the administrative state, and it functions as a means of transferring wealth to the Democratic Party and their friends and business associates, through taxpayer-funded, stock market-supported, alternative energy business start-ups.
So, how do you do that?
You use the administrative state to regulate, tax, fine, and persecute the fossil fuels industry out of business while using taxpayer wealth to fund its alternative – the companies the administrative state and the Democratic Party favor – with regulations, grants, subsidies, and tax breaks.
Though sold as a simple bill designed to contain inflation, in reality, the IRA is a textbook example of how to perform a socialist takeover of an economic sector. And do note the diversionary title of the Inflation Reduction Act. If the real intent of the IRA had been written into the bill and had to gain the public’s approval to pass Congress, it would never have passed. Titled and sold as a means of curing the problem of inflation the Democratic Party itself created – it did pass.
So, what does it mean?
It means that, like the walls of Troy, the fossil fuel industry is under siege from a disguised, internal enemy. It means taxpayers will be looted of more wealth than the Trojans ever dreamed of, to the tune of $1.4 trillion and counting. It also means another kind of plundering – with government command and control comes higher consumer prices for everything. It means one political party in alliance with the administrative state will dictate which companies can produce what products. What is produced that is in any way related to the energy sector will need the favor of a new tyrant: The Democratic Party.
It means that the American consumer will have no choice in what materials are used to build their homes or what type of <a href="https://www.dailywire.com/news/ford-gets-9-2-billion-loan-from-biden-admin-for-ev-battery-factories-biggest-check-since-2009-bailouts" target="_blank" rel="noopener">car</a> they can buy, or what type of <a href="https://www.dailywire.com/news/democrat-official-who-supports-gas-stove-crackdown-has-a-gas-stove-in-his-own-home" target="_blank" rel="noopener">stove</a> to use or what light bulb to choose. The American consumer will have as much choice as the Trojan slaves had after the war, when their masters dictated what they consumed.
But they say the world’s going to die! The planet’s burning and there is no way off! We must do something!
When choosing whether to believe a myth or follow the money – follow the money.
<a href="http://richardclyons.com" target="_blank" rel="noopener">Richard C. Lyons</a>, author of <a href="https://www.amazon.com/DNA-Democracy-Richard-C-Lyons/dp/0960072330/ref=sr_1_1?crid=2YMZDE1WJACY&amp;keywords=dna+of+democracy&amp;qid=1682820028&amp;sprefix=dna+of+democracy,aps,147&amp;sr=8-1" target="_blank" rel="noopener">The DNA of Democracy: Volume I</a> and <a href="https://www.amazon.com/Shadows-Acropolis-Richard-C-Lyons/dp/0997346299/ref=pd_bxgy_vft_none_img_sccl_1/133-3675306-0445253?pd_rd_w=2AzPK&amp;content-id=amzn1.sym.26a5c67f-1a30-486b-bb90-b523ad38d5a0&amp;pf_rd_p=26a5c67f-1a30-486b-bb90-b523ad38d5a0&amp;pf_rd_r=CXEQVEV308YHMA6RN7V2&amp;pd_rd_wg=Tfgw1&amp;pd_rd_r=5df3aa2a-5ee5-469c-99f9-21d371581b3f&amp;pd_rd_i=0997346299&amp;psc=1" target="_blank" rel="noopener">Shadows of the Acropolis: Volume II</a>  is a third generation printer, whose early career centered on religious and special education publishing. Lyons has since engaged in literary pursuits as a poet, essayist, screenwriter and indie publisher.
The views expressed in this piece are those of the author and not necessarily those of the Daily Wire.

President Biden Delivers Remarks On Bidenomics In Milwaukee

Why Biden’s Inflation Reduction Act Is A Socialist Trojan Horse

Biden Admin

Energy

Oil and Gas

President Joe Biden took some heat for a Tuesday X post bragging about his <a href="https://www.dailywire.com/news/biden-brags-about-the-economy-and-people-say-it-must-be-an-april-fools-day-gag" target="_blank" rel="noopener">economic policies</a> — dubbed &#8220;Bidenomics&#8221; — namely from people pointing out persistently higher costs for basic necessities like food, energy, and gas.
&#8220;That&#8217;s Bidenomics,&#8221; the president boasted, sharing a graphic that quoted him as saying, &#8220;We&#8217;re growing the economy from the middle out and bottom up, lowering costs for hardworking families, and making smart investments in America: That&#8217;s Bidenomics.&#8221;
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
That’s Bidenomics. <a href="https://t.co/b6U189I5ax">pic.twitter.com/b6U189I5ax</a>
&mdash; Joe Biden (@JoeBiden) <a href="https://twitter.com/JoeBiden/status/1694131860127826130?ref_src=twsrc%5Etfw">August 22, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
&#8220;Literally nothing costs less,&#8221; @1witchychick <a href="https://twitter.com/1WitchyChick/status/1694345848186962366" target="_blank" rel="noopener">responded</a>, and her sentiments were shared by a number of other critics who were quick to weigh in on the subject.
&#8220;What costs are you lowering?&#8221; another account asked, sharing a screenshot of a Fox Business headline showing just how much more Americans were spending, on average, to accommodate their basic needs: $709 per month more than two years ago.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
What costs are you lowering? <a href="https://t.co/5b7sthPdhs">https://t.co/5b7sthPdhs</a> <a href="https://t.co/KmOTw5bo9P">pic.twitter.com/KmOTw5bo9P</a>
&mdash; Amy Curtis (@RantyAmyCurtis) <a href="https://twitter.com/RantyAmyCurtis/status/1694154200131760591?ref_src=twsrc%5Etfw">August 23, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Dr. Jeff Ross wondered whether Biden was even serious, <a href="https://twitter.com/VailshireCap/status/1694144734976188888" target="_blank" rel="noopener">asking</a>, &#8220;This a joke or nah? Serious question: Does any hardworking American think that your living costs have been lowered at any time over the past three years? Utter nonsense.&#8221;
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&#8220;Bidenomics — 8% interest to buy a house, 3.5% inflation and $5 gas. Great job,&#8221; another <a href="https://twitter.com/RealSaltySlim/status/1694152482585211382" target="_blank" rel="noopener">replied</a>.
Biden and some of his supporters have been making the rounds in recent weeks, touting the climate initiatives that were part of his signature Inflation Reduction Act — and boasting about economic gains in the form of slightly lowering inflation rates and positive jobs numbers.
What none of Biden&#8217;s surrogates appear willing to address is the fact that the <a href="https://budget.house.gov/press-release/fact-check-biden-misleads-on-job-creation-statistics" target="_blank" rel="noopener">jobs numbers</a> — while they have been trending in a positive direction since Biden took office — do not represent only newly created jobs but also jobs that were left unfilled during the pandemic and have since been filled. Additionally, the number of Americans who have left the workforce altogether means that fewer eligible people are even looking for work.
On top of that, the Biden administration has often boasted about <a href="https://www.dailywire.com/news/core-inflation-matches-two-year-low-heres-why-youre-not-noticing-any-change" target="_blank" rel="noopener">lowered inflation</a> — but often bases that on &#8220;core inflation,&#8221; which eliminates the impact of more volatile costs such as food and gasoline. But because average Americans have to purchase those items weekly, if not daily, they are less impacted by the fact that &#8220;core inflation&#8221; may have lowered.

President Biden Hosts Japan And South Korea’s Leaders At Camp David

‘Literally Nothing Costs Less’: WH Torched For Latest ‘Bidenomics’ Brag

'Literally Nothing Costs Less': WH Torched For Latest 'Bidenomics' Brag

White House

The Baby Boomer generation stretched from 1946 to 1964. That means members are now 59 to 77 years old, and nearly 10,000 Boomers reach retirement age &#8212; 65 &#8212; each day.
But in the age of President Joe Biden &#8212; with inflation soaring double digits, interest rates skyrocketing, and investment portfolios sagging &#8212; a lot of those older Americans are being forced to &#8220;unretire.&#8221;
&#8220;Unfortunately, the inflation-driven affordability crisis and the Federal Reserve’s interest rate hikes meant to combat inflation have driven housing costs higher,&#8221; USA Today reported this week. &#8220;As a result, retirees are moving back into the labor force. According to a <a href="https://12ft.io/proxy?q=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fopinion%2Fvoices%2F2023%2F05%2F28%2Finflation-government-spending-are-pulling-boomers-out-of-retirement%2F70254240007%2F" target="_blank" rel="noopener">survey</a> by Paychex, 55% of retirees who went back to work said they did so because they needed more money, and 1 in 6 retirees is considering returning to work.&#8221;
&#8220;Most would want to work full-time (65%) instead of part-time (35%). This could be due to a need for more money — the reason cited by 53% of respondents,&#8221; Paychex <a href="https://12ft.io/proxy?q=https%3A%2F%2Fwww.usatoday.com%2Fstory%2Fopinion%2Fvoices%2F2023%2F05%2F28%2Finflation-government-spending-are-pulling-boomers-out-of-retirement%2F70254240007%2F" target="_blank" rel="noopener">reported</a>. Some 55% of retirees went back to work because they said they needed more money.
The endless crunch since Biden took office &#8212; inflation soared 9.1% in June 2022 year-over-year and housing costs were 8.1% higher in April compared to a year earlier &#8212; has pinched seniors. Of course, Biden and Democrats have done nothing to address skyrocketing health care costs, which means older Americans are being hit from every side.
Plus, Biden and congressional Democrats passed the so-called Inflation Reduction Act, which didn&#8217;t offer a bit of help for the rising cost of food, housing, or energy prices. The latest debt deal passed on Wednesday will also deliver no relief whatsoever.
It&#8217;s been a perfect storm hammering seniors. Along with the soaring cost of living, &#8220;many older adults find themselves in deteriorating financial positions due to massive stock market losses in 2022,&#8221; USA Today reported. Last year, more than $12 trillion in wealth disappeared as the Dow dropped 8%, the S&amp;P 500 19.4%, and Nasdaq 33%.
An AARP <a href="https://www.aarp.org/pri/topics/work-finances-retirement/financial-security-retirement/financial-security-trends-survey-wave2/" target="_blank" rel="noopener">survey</a> late last year found more than a third of people 65 and older said their current financial situation at midyear was worse than a year before. That represented a massive jump from the beginning of 2022, when just 13% of that age group said so.
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To keep pace, Social Security and Supplemental Security Income (SSI) benefits were increased 8.7% at the beginning of 2023, but even that hasn&#8217;t been enough.
This is the danger of having a senile, out-of-touch president who has no clue what living in America is all about. Biden became a multi-millionaire while serving in the Senate and now has chefs &#8212; paid for by you, of course &#8212; prepare his every meal. He doesn&#8217;t have a clue what a dozen eggs or a gallon of gas costs.
And just so you know, there&#8217;s no help on the way. In Biden&#8217;s America, you&#8217;re on your own, and he&#8217;s not even going to try to fix anything.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.
Joseph Curl has covered politics for 35 years, including 12 years as White House correspondent for a national newspaper. He was also the a.m. editor of the Drudge Report for four years. Send tips to josephcurl@dailywire.com and follow him on Twitter @josephcurl.

Senior businessman typing on a laptop in a coworking space

Soaring Bidenflation Forcing Older Americans To ‘Unretire,’ New Poll Finds

Soaring Bidenflation Forcing Older Americans To 'Unretire,' New Poll Finds

elderly

President Joe Biden&#8217;s <a href="https://www.dailywire.com/news/aoc-wants-credit-for-bidens-green-energy-agenda-let-her-have-it" target="_blank" rel="noopener">green energy boondoggle</a> keeps getting bigger by the hundreds of billions of dollars, according to a new study.
On Friday, Just The News <a href="https://justthenews.com/politics-policy/energy/bidens-green-agenda-cost-least-600-billion-more-projected-analysis-says" target="_blank" rel="noopener">reported</a> that a new University of Pennsylvania Wharton School of Business model predicts that the cost of Biden&#8217;s oft-touted climate change bill — the <a href="https://www.dailywire.com/news/hey-neat-spend-1000-on-green-energy-and-the-feds-will-give-you-a-300-tax-credit-to-reduce-inflation-thanks-biden" target="_blank" rel="noopener">Inflation Reduction Act</a> — will now cost the U.S. taxpayers more than $1 trillion.
&#8220;The 2022 Inflation Reduction Act (IRA) contained a range of climate and energy provisions that <a class="link" href="https://budgetmodel.wharton.upenn.edu/issues/2022/8/12/senate-passed-inflation-reduction-act" target="_blank" rel="noopener">PWBM previously estimated</a> to cost $384.9 billion over 10 years,&#8221; Penn <a href="https://budgetmodel.wharton.upenn.edu/estimates/2023/4/27/update-cost-climate-and-energy-inflation-reduction-act" target="_blank" rel="noopener">said</a> in a press release. &#8220;Since that estimate, newer implementation details have emerged, and the fiscal year calendar has moved to start at FY2023. Our updated estimate for over 10 years (FY2023 – 2032) for just the climate and energy provisions is now $1,045 billion.&#8221;
Much of that comes from subsidizing the &#8220;<a href="https://www.dailywire.com/news/shocker-new-york-would-ban-gas-stoves-in-new-buildings-under-potential-budget-deal" target="_blank" rel="noopener">electrification of everything</a>,&#8221; as some have called it. Here&#8217;s exactly what that money will be going toward over the next 10 years:
<ul>
<li>Clean electricity/energy ($263 billion)</li>
<li>Clean Hydrogen ($49 billion)</li>
<li>Carbon Capture, Utilization and Storage ($23 billion)</li>
<li>Advanced Manufacturing ($183 billion)</li>
<li>Clean vehicles ($393 billion)</li>
<li>Biofuels ($43 billion)</li>
<li>Energy efficiency ($28 billion)</li>
<li>Agriculture and forestry ($3 billion)</li>
<li>Energy grants and loans ($37 billion)</li>
<li>Air pollution ($22 billion)</li>
</ul>
Who will be in charge of doling that money out? Democratic lackey John Podesta. Will Podesta make sure that all of that money goes toward American companies? It doesn&#8217;t look likely. In March, he said that Chinese companies will have a big part to play in America&#8217;s energy future.
Even Senator Joe Manchin (D-WV) took issue with Podesta over the comments.
&#8220;It is beyond irresponsible for someone speaking on behalf of the White House to not only condone but also advocate for sending American tax dollars to Chinese companies,&#8221; Manchin told Fox News. &#8220;That is not consistent with either the IRA or the CHIPS + Science Act, which had widespread bipartisan support due to concerns about Chinese supply chains.&#8221;
That Podesta would want to funnel U.S. tax dollars overseas to the Chinese Communist Party shouldn&#8217;t come as much of a surprise. Podesta is good friends with at least one CCP official, Fox News also <a href="https://www.foxnews.com/politics/bidens-new-clean-energy-czar-highest-regard-ccp-official-called-friend" target="_blank" rel="noopener">reported</a> in September 2022.
Other Democratic allies are lining up to make sure they take advantage of the government spending over the next decade. Twice-failed gubernatorial candidate Stacey Abrams is <a href="https://www.dailywire.com/news/stacey-abrams-now-throwing-her-weight-around-with-group-advocating-gas-stove-regulations" target="_blank" rel="noopener">now working with Rewiring America</a>, a group that advocates the heavy regulation of gas stoves, arguing instead for electric appliances.
The founders of Rewiring America — Alex Laskey, Saul Griffith, and Ari Matusiak — have made significant money off government funding in the green energy sphere while advocating for policies that benefit their bottom dollar via the non-profit group.
“It’s a shocking amount of money that they’re hauling in with this scheme of theirs,” Tom Pyle, the president of the Institute for Energy Research, <a href="https://www.dailywire.com/news/stacey-abrams-now-throwing-her-weight-around-with-group-advocating-gas-stove-regulations" target="_blank" rel="noopener">told</a> Fox News. “I call it Big Green Inc. It is literally a business for these guys and they cloak themselves in the mantra of trying to save the planet. But, really, this is just very sophisticated self-dealing.”
It appears that the scheme now has more than a trillion reasons to continue, thanks to the seemingly never-ending price increase of the Inflation Reduction Act.
The views expressed in this piece are the author’s own and do not necessarily represent those of The Daily Wire.

Biden’s Green Energy Boondoggle Keeps Getting Bigger

Biden's Green Energy Boondoggle Keeps Getting Bigger

electric vehicles

Global Warming

Green New Deal

Money

Taxes

Weather

Senator <a href="https://www.dailywire.com/topic/joe-manchin" target="_blank" rel="noopener">Joe Manchin</a> (D-WV) upped the ante in his spat with the Biden administration over the Inflation Reduction Act.
Manchin appeared with Sean Hannity on Fox News Monday night. In the interview, the moderate Democrat complained that the Biden administration and Democrats had neglected the commitments to develop new oil and gas projects he secured in exchange for his vote on the $740 billion Inflation Reduction Act. If the Biden administration continued to neglect American energy security, Manchin threatened to vote to repeal the act he helped to pass.
“They broke their word to the American public,” <a href="https://www.youtube.com/watch?v=AodfJFI9zgs" target="_blank" rel="noopener">Manchin</a> told Hannity, noting that the original draft of the bill he wrote would have cost $684 billion over 10 years, and $384 billion was for energy production.
Manchin went on to stress that the United States has the natural resources to become energy independent. &#8220;We have the gas, and we have the oil, and we have the coal,&#8221; he said. &#8220;We can do it better and cleaner than anywhere in the world. And so, this piece of legislation was balanced. [In the next] 10 years, we are going to have enough fossil [fuel] to run our country and to help our allies around the world, and we will also be investing in new technology for the future. Now, they have disregarded this completely, what was agreed upon, and they know exactly what we agreed upon. This was energy security, and we have not heard a word about energy security out of their mouths since it was passed. It’s all about environment.”
Manchin concluded by saying that if the administration continues to neglect energy production, he will do everything in his power to stop the administration from implementing the law, even if it means voting to repeal the bill he cast the deciding vote for. “If this administration does not honor what they said they would do and continue to liberalize that — $384 billion is what we are supposed to invest in over 10 years, and they blow that out of the water and its six or seven or eight hundred — I will do everything in my power to prevent that from happening,&#8221; he said. &#8220;And if they don’t change, then I would vote to repeal my own bill.&#8221;
In recent weeks, Manchin has repeatedly clashed with the Biden administration over the implementation of the Inflation Reduction Act. In March, Manchin penned an op-ed for <a href="https://www.wsj.com/articles/biden-inflation-reduction-act-betrayal-joe-manchin-debt-ceiling-budget-fossil-fuels-green-energy-dc37738e" target="_blank" rel="noopener">The Wall Street Journal</a> decrying how the administration was redefining the law to favor green energy projects over fossil fuels. “[T]hey are ignoring the law’s intent to support and expand fossil energy and are redefining ​’​domestic energy​’​ to increase clean-energy spending to potentially deficit-breaking levels,&#8221; he wrote. &#8220;The administration is attempting at every turn to implement the bill it wanted, not the bill Congress actually passed​.”
Manchin has also blasted the administration over its new regulations for <a href="https://www.dailywire.com/news/manchin-blasts-biden-admin-over-new-ev-tax-credit-regulations" target="_blank" rel="noopener">electric vehicle</a> tax credits that would reduce the number of vehicles that qualify, while also making America more dependent on foreign supply chains. He also called <a href="https://www.dailywire.com/news/manchin-calls-epas-push-for-electric-cars-a-trojan-horse-to-increase-dependence-on-china" target="_blank" rel="noopener">EPA regulations</a> intended to boost EV sales a “Trojan horse” to increase America’s reliance on China for critical minerals.
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Manchin&#8217;s sudden criticism comes as West Virginia Governor <a href="https://www.dailywire.com/news/west-virginia-gop-governor-set-to-launch-senate-campaign-for-joe-manchins-seat-reports" target="_blank" rel="noopener">Jim Justice</a> announced a run for Senate to oppose him. Justice joins Rep. Alex Mooney in the primary to oust Manchin, who narrowly avoided defeat in 2018.

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