Free Republic

The national retail average for a regular gallon of gas was $4.457 on Monday. That's a 1-cent increase from Sunday, according to the American Automobile Association, and 35 cents more than last Monday. At this time last year, a gallon of gas was $1.29 cheaper. The surging prices seemed to stabilize or even decrease for about two weeks, following a temporary ceasefire agreement between the U.S. and Iran that has been indefinitely extended. However, the Strait of Hormuz, a vital shipping route where roughly a fifth of the world's oil passes, has effectively remained closed or extremely limited to passage...

US forces sank six Iranian small boats deployed to harass traffic in the Strait of Hormuz Monday, shortly before President Trump warned the Islamic Republic will be “blown off the face of the earth” if it interferes with efforts to reopen the crucial waterway. Adm. Brad Cooper, the head of US Central Command (CENTCOM) told reporters on a Monday press call that while Iran historically has deployed “between 20 and 40 small boats” to threaten commercial shipping in the strait, “today, we saw just six, and eliminated them quickly.” “We have an enormous amount of capability and firepower concentrated in...

For months, I’ve been a bit confused about “affordability,” the latest Democrat meme. Then, early last week, I read a piece about “affordability” and realized: “of course.” Affordability is just the Democrats’ latest excuse for giving out free stuff to their supporters, paid for by you and me. Even though I can’t find the article that I read, I wrote about “affordability” on my Substack.AdvertisementIf you look at the Congressional Progressive Caucus “New Affordability Agenda” you realize that Affordability is not just about free stuff, but something else. “Affordability” is about politicians trying to fix things they screwed up already....

Six months before Election Day, America’s $39 trillion national debt has moved from an abstract fiscal concern to a dinner-table anxiety… A new national survey released Thursday by the Peter G. Peterson Foundation found that 92% of registered voters are concerned that the national debt is fueling inflation and driving up their personal cost of living, including prices for groceries, energy, housing, and transportation. The figure includes 94% of Democrats, 92% of independents, and 89% of Republicans — a degree of bipartisan alignment rarely seen in today’s fractured political environment… The concern extends beyond deficits in the abstract. Eighty-eight percent...

President Trump on Friday addressed seniors at The Villages in Florida and touted his second-term achievements that have made life more affordable for those in their golden years. “I’m much, much younger than the people in this room, but I feel I can relate to you anyway,” the 79-year-old president joked at the world’s largest retirement community, before rattling off policy after policy his administration has pushed to benefit seniors. Trump lauded the “largest tax refunds of all time” received by American seniors this year thanks to his One Big Beautiful Bill Act. **SNIP** The president then tore into former...

SNIP Summary: Trump has instructed aides to prepare for an extended blockade of Iran following a Monday Situation Room meeting, rejecting both a resumption of bombing and acceptance of Iran's current proposal The blockade is aimed at forcing Tehran to dismantle its entire nuclear programme, with Trump demanding at minimum a 20-year suspension of enrichment Iran's three-step proposal to reopen the Strait of Hormuz while deferring nuclear talks was rejected as evidence of bad faith The Strait of Hormuz is seeing its lowest transit levels since the conflict began, driving up energy costs and weighing on Trump's poll numbers ahead...

Existential crises tend to arrive when the gap between how life feels and how we thought it would feel becomes too wide to ignore.For a growing number of Americans, 2026 hasn’t just been hard. It’s been disorienting. A Talker Research survey of 2,000 U.S. adults found that one in three people (32%) say they’re currently experiencing an existential crisis, with younger adults far more likely to feel that way than older generations. Nearly four in ten (37%) say their entire lives feel out of their control... A separate survey of 5,000 Americans, conducted by Talker Research for Current in December...

Oil prices jumped more than 5% Wednesday, on a report that President Donald Trump is prepared to keep the U.S. Navy blockade of Iran in place for an extended period. International benchmark Brent crude futures rose more than 5% to $117.58 per barrel at 11:21 a.m. ET, U.S. West Texas Intermediate futures with June delivery rose more than 5% to $105.33 per barrel. Trump has decided in recent meetings to continue the blockade of Iran rather than resume bombing or walk away from the conflict, U.S. officials told The Wall Street Journal. The president has told his aides recently to...

President Donald Trump was pressed in the Oval Office on Thursday about gas prices after he said he once worried they could go as high as $200 a barrel due to the war in Iran. A reporter asked if Trump would be willing to accept $200 oil in order to continue the war. “I think that there’s nothing worse than a nuclear weapon that takes out one of your cities, or two of your cities, or three. I think there’s something worse than the nuclear weapon is going to destroy the Middle East, including Israel,” Trump replied, adding: I think...

1/10 The U.S. naval blockade of the Strait of Hormuz would cost Iran approximately $276M/day in lost exports and disrupt $159M/day in imports, a combined economic damage of ~$435M/day, or $13B/month.Over 90% of Iran's $109.7B in annual trade transits the Persian Gulf. Oil/gas accounts for 80% of government export earnings and 23.7% of GDP. Kharg Island alone generates ~$53B/year, or as I noted to @TIME, "$78 billion a year in energy

Inflation surged in March as consumer prices jumped amid the economic disruptions caused by the Iran war's impact on the energy market. The Bureau of Labor Statistics on Friday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.9% from a month ago and is 3.3% higher than last year. The annual figure jumped from last month's 2.4% reading, while the monthly increase also rose markedly from last month's 0.3% reading Expectations vs. reality Both the 0.9% monthly increase and 3.3% annual rise were in...

RAINELLE, W.Va. (AP) — Every month, Rebecca Michalski takes a deep breath before opening her electric bill. She lives on a fixed income, and heating her small house this winter has been staggering: Her February charge was $940.08 — more than her check. It makes no sense. She turns the lights off during the day and only burns one lamp with an energy-efficient bulb in the living room at night, but she keeps falling further behind on payments. In desperation, she took out a loan after getting a cut-off notice during an extended arctic blast that kept the state’s heaters...

Based on the CPI, inflation is relatively cool. Don't be fooled. It's much higher than advertised, and you can see it clearly if you look at the right data. When talking heads on CNBC or Fox Business talk about inflation, they always reference the Consumer Price Index (CPI). This metric measures the price changes in a “basket of goods.” This gives a fair approximation of price inflation (although intentionally understated), but it doesn’t give us a good gauge on the trajectory of inflation as historically economically defined. Inflation isn’t just “rising prices.” Historically, inflation was defined as an increase in...

President Donald Trump is asking for an eye-popping $1.5 trillion to fund the Pentagon in the budget proposal the White House released Friday. With the war with Iran ongoing, Trump has pushed that more money is needing to fund the US military and less on social programs. 'We're fighting wars, we can't take care of daycare,' he muttered at Wednesday's Easter lunch, which was closed to press, but video was accidentally posted online.

Oil surged 10% Thursday as U.S. President Donald Trump warned of further military aggression against Iran in the next two to three weeks, dampening hopes for an imminent de-escalation in the conflict. U.S. West Texas Intermediate crude futures for May were up 10% at $110.21 a barrel as of 8:13 a.m. ET. June futures for international benchmark Brent crude rose 8% to $109.25 per barrel. Trump in his speech attributed the increase in oil prices to the “Iranian regime launching deranged terror attacks against commercial oil tankers and neighboring countries that have nothing to do with the conflict.” He said...

Donald Trump said he was willing to end the Iran war without a deal to reopen the Strait of Hormuz. The US president, with no concrete signs of a diplomatic breakthrough, suggested that if negotiations collapsed, he would “obliterate” Iran’s energy and water facilities, but leave the vital waterway under Iranian control. He wrote on his Truth Social platform: “Great progress has been made but, if for any reason a deal is not shortly reached, which it probably will be, and if the Hormuz Strait is not immediately ‘Open for Business’, we will conclude our lovely ‘stay’ in Iran by...

President Donald Trump dismissed concerns about rising gas prices, insisting they’ll be dropping “very soon” once the Iran war wraps up. Trump spoke to reporters at the White House on Tuesday after signing an executive order cracking down on mail-in voting, and when confronted about the sharp rise in gas prices since the strikes against Iran were launched, the president insisted the U.S. will be leaving Iran “very soon.” According to AAA, the national average for gas is around $4. One month ago, it was below $3. The country hasn’t faced a $4 average for gas since 2022, when Russia...

White House officials have privately discussed their concerns about recent internal and public polling on the economy and President Trump and have been trying to drum up new strategies to prevent GOP losses in the midterm elections, sources briefed on the conversations told CBS News. Senior aides, including chief of staff Susie Wiles and deputy chief of staff James Blair, regularly brief the president on the latest polling on voter sentiment. A central focus is the dissatisfaction of independent voters, whose economic angst has risen since the president's tariffs triggered global economic uncertainty and gas prices began to spike as...

U.S. President Donald Trump told aides he’s willing to end the military campaign against Iran while leaving the Strait of Hormuz largely closed, the Wall Street Journal reported on Monday evening. Trump and his aides assessed that a mission to reopen Hormuz would push the conflict beyond his timeline of four to six weeks, the WSJ reported, citing administration officials. Trump decided that the U.S. would wind down current hostilities with Iran after achieving its main goals of hobbling Iran’s navy and missile stocks. Washington will then pressure Tehran diplomatically to reopen the strait, failing which, it will press allies...

REMOVING BARRIERS TO BUILDING HOMES: Today, President Donald J. Trump signed an Executive Order to eliminate unnecessary regulatory burdens that delay housing construction and increase housing costs for American families.The Order directs the EPA Administrator and the Secretary of the Army to review and revise stormwater, wetlands, and other water-related permitting requirements to reduce building and ownership costs, streamline Federal regulatory approvals, and increase home insurability.The Order also directs the Secretary of Commerce, Secretary of Housing and Urban Development, Secretary of Transportation, and the Director of the Federal Housing Finance Agency (FHFA) to eliminate unduly burdensome rules and reform programs...