Free Republic

Today’s GDP report from the BEA reminds me of the Peggy Lee song “Is That All There Is?” Between the massive Fed monetary stimulus since late 2008 (and particularly since Covid in 2020) and all the Federal spending (Covid relief, Inflation reduction, Omnipork spending bill, etc.), US real GDP rose by only 2.9% in Q4 from Q3. But signs of slowing underlying demand mounted as the steepest interest-rate hikes in decades threaten growth this year. Gross domestic product increased at a 2.9% annualized rate in final three months of 2022 after a 3.2% gain in the third quarter, the Commerce...

If House Republicans were serious about making spending cuts at least practical, if not immediately achievable, it’s easily done.At the start of the Netflix self-help documentary “Get Smart With Money,” a voice actor says, “How do you get ahead without taking out loans?” That, in a sentence, is the maddening thought process that animates Washington — Republicans, Democrats, and the media alike.As we approach the federal debt ceiling, Republicans are doing the thing where they swear they won’t raise it without spending cuts, only to inevitably trip over themselves when asked the most innocuous, straightforward questions pertaining to what specifically...

When We the People get to the point in our personal finances where we are at risk of not even being able to pay the interest on our credit cards and loans, that’s a wake-up call at the cliff’s edge of bankruptcy. Most of us never get there. When we do, it’s time to (1) stop spending and (2) get those bills paid down, if not completely paid off. Such personal responsibility needs to be manifest at our national level too. It’s time to stop funding every seemingly good idea that comes along. Fiscal restraint is required. We need a...

The sky seems to be perpetually falling if you ask Democrats, journalists, and even some Republicans, and the current fiscal fight in the House seems to be no exception.Joe Biden and the Democrats are adamant that a clean debt ceiling increase has to happen or else the consequences will be dire. Mitch McConnell, the GOP leader in the Senate, is only telling reporters “We will not default.” But in the House, Republicans are poised to force a lengthy battle over the debt ceiling and potential cuts to the federal budget.That puts House Speaker Kevin McCarthy somewhere he may not be...

Catherine Rampell of the WaPo is correctly recognizing that states are sabotaging their finances. While she recognizes the coming problem, she blames tax cuts instead of overspending and depending on the rich as the culprit. Democrats rarely think they spend too much and rarely want to allow the people and businesses to keep more of what they earn. As recession looms (maybe), states sabotage their own financesRampell, like most journalists, has falsely blamed Trump's tax rate cuts for cutting federal revenues when revenues actually rose substantially after the rate cuts. Overspending has always been the problem in DC.Many states sabotaged...

We are now told that the so-called “X-date” (when the federal government hits the current debt limit) is fast approaching, potentially much sooner than previously anticipated. Leading economists can’t seem to agree on precisely when this will happen, with some saying “in the next few weeks” and other, more optimistic prognosticators putting the date at “some time this summer.” But either way, the date is clearly coming. The Fed can implement what are described as “extraordinary measures” (bookkeeping tricks) to push the deadline back a bit, but that will only hold for so long. This leaves us with two obvious...

Behind the refusal of the House Republican Party’s so-called freedom caucus to vote for Rep. Kevin McCarthy, R-Calif., is the caucus’s skepticism that he will actually “rein in government spending.” I’ve never quite understood why all Republicans do not belong to the Freedom Caucus. If the Republican Party supports low taxes, light regulations and strong national security, why is a Freedom Caucus even necessary? Here’s the problem. In 1900, government at all three levels — local, state and federal — taxed Americans at about 9% of their earnings. Now, it is over 32%. As former President Ronald Reagan said: “Government’s...

WASHINGTON (AP) — Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default. In a letter to House and Senate leaders, Yellen said her actions will buy time until Congress can pass legislation that will either raise the nation’s $31.4 trillion borrowing authority or suspend it again for a period of time. Those measures include divesting some payments, such as contributions to federal employees’ retirement plans, in order to provide some headroom to make other payments that are deemed essential,...

LOUISVILLE, Ky. (AP) — A federal agency will provide more than $2.3 million to two Kentucky organizations to support school safety and mental health, U.S. Sen. Mitch McConnell said. Funding for the grants comes from the Bipartisan Safer Communities Act, which McConnell — as the Senate’s top-ranking Republican — helped lead to Senate passage last year. McConnell said the funding will provide “much-needed mental health infrastructure in our schools.” “The American people do not have to choose between safer schools and the Constitution, and the Bipartisan Safer Communities Act proves it,” McConnell said. “This bill increases school safety, helps troubled...

A new pilot project to find ways to inject equity considerations into transportation planning in southeast Michigan will focus on how urban flooding affects historically disadvantaged communities. The National Oceanic and Atmospheric Administration (NOAA) and partner agencies are launching this research project to better create infrastructure that is more resilient to flooding impacts from climate change. The study’s focus will be to better understand how transportation disruptions during major urban flooding events affect areas already struggling with poverty challenges. NOAA will contribute $150,000 to the study, which includes partner groups the Southeast Michigan Council of Governments (SEMCOG), Fernleaf Interactive, and...

WASHINGTON, D.C. — After a week of grueling votes for Speaker of the House — 15 in total — Kevin McCarthy was finally handed the people's gavel and took his rightful place as Speaker. He lifted it up to the raucous applause of both Democrats and Republicans, signaling that the week of Congressional inactivity was over and the long national nightmare of taxing, spending, and corruption could finally begin. "Finally, we will get down to the people's business of stealing all their money for our pet projects, making backroom deals, and holding meaningless investigations where we yell and point angrily...

The conservative and influential Club for Growth announced it cut a deal with the super PAC affiliated with House GOP Leader Kevin McCarthy (R-CA), signaling possible movement in the House speaker race after a stalemate had resulted in no speaker through six rounds of voting as of Wednesday afternoon. The deal with the McCarthy-affiliated super PAC, the Congressional Leadership Fund (CLF), involves CLF agreeing to stay out of open-seat Republican primaries in safely red districts, as well as CLF vowing not to enable other super PACs to do the same.

Incoming US congressman Robert Garcia will be sworn in using the US Constitution - and a Superman comic.In a tweet on Tuesday, he said it is one of three items he will use that "mean a lot to me personally". The other two are a photo of his parents, who he said were lost to Covid-19, and his citizenship certificate. Mr Garcia is still waiting to take the oath of office, however, after Republicans failed to elect a speaker.

Economist Steve Moore took a blowtorch to Congress’ nutty and enormous spending bill which was passed just as the U.S. continued to reel from a crippling inflation crisis. Moore rebuked Republicans and Democrats for abusing Americans’ hard-earned tax dollars as if it were Monopoly money during the Jan. 2 edition of Fox News Live. “I’ve got to say this: Shame on Republicans — shame on Democrats in Congress for what they did last week” when “they passed that $2 trillion spending bill.” Moore specifically held the GOP’s feet to the fire: “Your job in 2023 is to cut government spending...

Forty-five million dollars to address erosion at Camp Ellis. Thirty-five million for Wolfe’s Neck Farm to promote climate-friendly farming practices nationwide. Twenty million to protect vital infrastructure from the effects of climate change. Five million to aid farmers affected by PFAS contamination. The money came from a variety of sources, for projects large and small, scattered across all 16 counties. More than $250 million for Maine projects (not all of it climate or environmental related) came in the form of earmarks in the $1.7 trillion federal spending bill passed in December. On the energy and environmental side, research and training...

Well, if this doesn’t take the cake. I mean the whole platter of angel food. No, make it the whole darn bakery. As if this administration and the Democrats have not shown enough insufferable hubris, incredible hypocrisy, unparalleled arrogance, and a monumental entitlement mentality, this would certainly qualify. Multiple news outlets are reporting that after the House passed the $1.7 trillion omnibus pork sandwich last Friday, said bill is being flown, yes FLOWN, to St. Croix for Biden’s signature. Biden is reportedly ringing in the new year at the home of a wealthy donor there. He must sign the bill...

(Reuters) - The United States will introduce incentives on Jan. 1 for delivery firms and other companies to switch to electric trucks as part of a broad push to get polluting, workhorse vehicles off roads and out of neighborhoods. The first-of-its-kind incentives, established under President Joe Biden's Inflation Reduction Act (IRA), will offer tax credits of $7,500 or $40,000 depending on the size of the electric vehicle (EV). Delivery companies like FedEx and Amazon.com would qualify at the $7,500 level for many of their electric trucks. In a year marked by yet more floods, hurricanes and droughts linked to climate...

Recently, Sen. Rand Paul released his “Festivus” report that detailed wasteful government spending.This is an annual tradition meant to be an eye-opener to citizens. This is Paul’s 8th report.Good morning everyone and welcome to everyone’s favorite holiday - #Festivus! pic.twitter.com/g8xM8QER9y — Rand Paul (@RandPaul) December 23, 2022Festivus was popularized by “Seinfeld” and is celebrated on December 23. It was created by author Daniel O’Keefe. O’Keefe's son, Dan O’Keefe co-wrote the Seinfeld episode “The Strike” which referred to Festivus.One of the traditions of Festivus is the “airing of grievances,” i.e. complaining about the disappointments of the year which is supposed to...

KNOXVILLE, TN — Local wife Chelsea Hammond has just proposed a brand new 4,155-page Target funding bill to her husband but is only giving him 2 days to read through it all. Chelsea claims that if the omnibus spending package is not passed in its entirety, then their household will have to shut down and will be unable to buy necessities such as groceries and cute fuzzy socks with candy canes on them. "How am I supposed to read through all of this in just 2 days?" said concerned husband Kurt Hammond. "And don't get me wrong, honey, of course,...

Greedy Democrats are spending money they do not have on the backs of the American taxpayers, who they treat like they are drunks in the middle of the night at an ATM machine.Shocking evidence has emerged from their insane, self-glorifying massive $1.7 trillion spending package of a suspicious provision that involves radical Marxist Michelle Obama, who is married to another radical Marxist, former POTUS Barack Obama.“In the legislation lies $3.6 million to fund the Michelle Obama Trail—PATH Trail Project,” Carmine Sabia reported for Conservative Brief, adding a slam by Freedom House Caucus member:“The Democrats’ reckless omnibus bill spends YOUR money...