Free Republic

House Speaker Kevin McCarthy (R-Calif) said that he plans to meet with President Joe Biden on Wednesday to discuss raising the federal debt limit while controlling government spending. During an interview with CBS’s “Face the Nation,” McCarthy brushed off the idea that the U.S. would default on its debt. “We’re not going to default,” McCarthy said, adding “this won’t come to fruition until sometime in June.” He aimed his target at Democrats calling them out for wanting to raise the debt ceiling. “There will not be a default,” McCarthy continued. “But what is really irresponsible is what the Democrats are...

The Biden administration had no problems aggressively draining the SPR by 1mmb/d at market prices in the immediate aftermath of the Ukraine war, in hopes of lowering the price of gasoline ahead of November's elections and avoiding an inflationary midterm rout. However, when it comes to refilling the SPR, now that US emergency inventories are down to the lowest level since November 1983 and not too far from an all time low which threatens the structural integrity of the salt caverns the oil is deposited in...... the White House has "unexpectedly" gotten cold feet.One month after the White House said...

According to Wikipedia, the Peter Principle is described as "a concept in management developed by Laurence J. Peter, which observes that people in a hierarchy tend to rise to their 'maximum level of incompetence; employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another.'" There is no greater example of this premise than our present occupier of the Oval Office, President Joe Biden. During the decades Biden spent in the Senate, he was merely one of a...