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House Speaker Kevin McCarthy, a Republican from California, pushed Democrats to work on an agreement that would reduce spending while still raising the debt ceiling.

McCarthy stated, “I would like to meet with all of the leaders, but especially the president, and begin having conversations.”

Janet Yellen, the Secretary of the Treasury, predicted that the debt limit will come dangerously close to being reached this week. Despite this, Yellen stated that she would take “exceptional steps” to push back the deadline until June.

McCarthy pushed for the beginning of discussions to take place before the federal government drew too close to the deadline in June.

The leader of the House questioned those in attendance, asking, “Who wants to put the country through some type of threat at the very last minute with a fight over the debt ceiling? That is something no one wants.”


Joe Biden, the Vice President of the United States, referred to Republicans as “financially deranged,” and the White House has stated that they have no intentions to negotiate on the debt ceiling. Instead, they have urged Congress to lift the debt ceiling without making any concessions to spending.

“As President Joe Biden has stated, Congress must address the debt ceiling without restrictions,” White House media secretary Karine Jean-Pierre said at a press briefing this week.

She went on to say that “Republicans are threatening to hold the country’s full confidence and credit, a mandate of our Constitution, hostage until their demands to cut Medicare, to slash Social Security, and to cut Medicaid are met,” which is “brinksmanship that undermines the global economy.”

McCarthy urged lawmakers to “establish a budget, set a path to a more balanced budget, and start paying down this debt.”

According to Speaker McCarthy, a hypothetical compromise to raise the debt ceiling might result in reforms to entitlement programs like Social Security and Medicare, as well as expenditure on discretionary items.

“Let’s put our house in order in terms of how we’re going to spend,” McCarthy stated. “Let’s sit down and work together to safeguard Social Security and Medicare for the future generations.”

Author: Scott Dowdy

Jared Bernstein, a member of the White House Council of Economic Advisers, stated on MSNBC’s “Katy Tur Reports” on Wednesday that while it isn’t the ideal time to discuss where the White House believes spending should be cut, we can discuss “raising the income that is owing to us” through IRS enforcement to “make certain that individuals are paying, particularly those in the top 1%, paying what they owe.”

“What would be on the table for a debate like that,” host Katy Tur questioned after Bernstein said that the White House would welcome talking expenditure cuts, just not in the context of lifting the debt ceiling? “Where might money be cut? Is it investigating the Defense budget, or the Pentagon’s budget, which is widely acknowledged to be a huge money hole in which a lot of money simply isn’t properly accounted for due to security concerns or other factors?”

“A good moment to have that dialogue will come around budget time when we discuss what is and isn’t on the table,” Bernstein said in response. “However, I believe that one topic we can discuss right now is just increasing the amount of money owing to us, especially in light of the House Republicans’ recent ideas. As a result, the first item that House Republicans declared they planned to approve involved eliminating the Inflation Reduction Act-related funding for the IRS. Currently, the Congressional Budget Office estimates that this idea would increase the deficit by 115 billion dollars. In order to increase the budget deficit by nearly $100 billion, these so-called fiscal hawks want to first allow wealthy tax evaders to get away with their crimes. Once more, this goes completely against what the president wants to do and is inconsistent with tax equity. Making sure people are paying what they owe, especially those in the top 1%, is a good place to start. I’m not going to discuss spending with you right now while we’re here in this room.”

Author: Steven Sinclaire

The U.N. chief warned at the World Economic Forum gathering on Wednesday that the world is in a “sad situation” due to numerous interconnected problems like climate change and Russia’s conflict in Ukraine that are “piling up like automobiles in a chain reaction crash.”

On the second day of the exclusive gathering of global leaders and corporate executives in the Swiss ski lodge of Davos, U.N. Secretary-General Antonio Guterres gave his somber speech.

He called climate change an “existential threat” and claimed that efforts to keep global warming to 1.5 degrees Celsius were “almost going up in smoke.”

Despite the violence being fought fewer than 1,000 kilometers (620 miles) from Davos, Guterres was pessimistic that it would end soon.

“This battle will come to an end. The end of everything is ahead. But I don’t think the battle will end very soon,” he remarked. It is more challenging to establish a solution based on international law that respects territorial integrity when there are significant historical differences between Ukraine and Russia he continued.

“In the short term,” Guterres stated, “I don’t think that we have a possibility to advocate or mediate a genuine discussion to establish peace at this time.”

But that’s what the major news outlets said!

The quiet passage was spoken loud by Antonio Guterres and was recorded on camera.

He had a lot of confidence in it!

In the video, he counsels elected officials to take controversial actions now since they will be crucial in determining how the people will feel in the future.

He’s saying to disregard the voters and force them to submit to your wishes.

They’re already doing it; that’s simply the silent part out loud. We may have waited decades to consider this. A government doesn’t have to act as if it owes you anything if it becomes strong enough. You are no longer a citizen, but a subject.

Author: Scott Dowdy
While the annual rate of inflation has fortunately dropped from over 9% in June to 6.5 percent in December, this means that most Americans are still having to pinch pennies to meet their basic needs as inflation results in a de facto pay decrease.

More than half of all Americans live paycheck to paycheck (63 percent, to be exact).

Credit card interest rates have risen to an average of more than 20%, making progressives’ efforts to restrict APRs to 36% on short-term, small-dollar loans to those with poor credit appear even more absurd.

Pharmaceutical businesses increased their prices to ring in the New Year, as has been customary.

Citing Fierce Pharma, a journal of the pharma industry:

“Pfizer, GSK, AstraZeneca, Bristol-Myers Squibb, and Sanofi will raise prices for more than 350 branded pharmaceuticals in early January, according to Reuters, citing data and analysis from research firm 3 Axis Advisors and the affiliated drug pricing non-profit 46brooklyn.”

“According to 46brooklyn, the typical percentage increase in the wholesale acquisition cost (WAC) of brand name pharmaceuticals whose prices have risen in 2023 is 5%. According to the non-profit’s data, that is roughly comparable to the 4.9% median WAC growth the sector experienced in 2022.”


According to 46brooklyn, pharma manufacturers raised the pricing of over 1,400 drugs last year, the most since 2015.

To be fair, 5% is less than the current rate of inflation. But there are a few things to consider.

First, it is the median price increase, not the average price increase. If you look at the data from 46brookyln, you’ll notice that the average price increase is precisely the same as inflation—so, best case scenario, your meds are becoming more costly in line with everything else. Second, it is not the rate that applies to the most often purchased medicine in America, Humira, whose price increased by 8%, is above inflation rates, after increasing 7.4% in January. Keytruda, America’s second-most-purchased medicine, is also becoming 8% more costly this year.

Third, this follows 2022, which was the year with the “highest amount of price hikes since 2015,” according to the research. So we’ve been getting hammered fairly hard for a while now, with no end in sight.

Americans continue to pay exorbitant prices for pharmaceuticals, even when we don’t have much money to spare. The only real checks appear to be Mark Cuban, GoodRX, and the 340B drug discount program, which at the very least gets some drugs into the hands of patients at a lower cost and provides a lifeline for hospitals in rural areas to remain open which pharmaceutical companies, including the big price hikers, are attempting to dismantle.

If anyone thinks this looks like Democrats following through on their drug-pricing pledges, I have a bridge to sell them.

Author: Steven Sinclaire

House Republicans, led by Speaker Kevin McCarthy, are sticking to their pledge to slash spending before raising the federal debt ceiling.

Treasury Secretary Janet Yellen cautioned Congress not to prevent lifting the federal debt ceiling in a letter to McCarthy on Friday, arguing that raising the debt limit “doesn’t authorize new spending or cost taxpayers money.”

The Chair of the House Oversight Committee, James Comer of Kentucky, declared on CNN’s State of the Union, “We are hoping that the Senate, Dems and Republicans will agree on budget cutbacks. This has to come to an end.”

“We can’t continue to operate with such deficits,” he added. “Our country’s debt is one of the most serious dangers to our national security. China retains leverage over us due to the fundamental financial strength of their total economy against ours in terms of national debt.”

“In the midterm elections, Republicans were elected by the American people with a mandate,” Comer proclaimed. “We ran on the promise of being serious about budget reduction. As a result, the Senate will have to acknowledge that we will not budge until we see significant budget reform.”

“The debt ceiling will without a doubt going be a knife war,” Texas GOP Representative Tony Gonzales said on “Fox News Sunday.”

House Speaker Kevin McCarthy stated last week, “We do not want to put any budgetary difficulties through our economy. But fiscal difficulties would be continuing to operate business as normal. When Nancy Pelosi was House Speaker and Trump was President, there was a debt limit deal, and it was a two-year cap agreement to control expenditure and make those choices.”

“This is something that individuals have done,” he explained. “But I ask everyone of you and every American if you have a kid and you give them access to a credit card and they max the card out, then you extend the limit time after time, where does it end? We need to reform the way we squander money in this nation, and we’re going to ensure that happens.”

“To secure a debt ceiling, they also got a spending cap for the next couple of years,” McCarthy said. “Here, spending has gotten out of control. There has been no oversight at all, and we can’t continue in this manner.”

Author: Blake Ambrose

On Wednesday, the United States Secretary of the Treasury, Janet Yellen, and her Chinese counterpart, Vice Premier Liu He, are scheduled to meet in Switzerland to discuss recent economic developments between the two countries.

The Zurich discussions will be a follow-up to President Joe Biden’s meeting with China’s Xi Jinping on the sidelines of the Group of 20 summit held in Bali, Indonesia. The two global leaders agreed to provide key senior officials the authority to continue communication.

Despite their trade ties, tensions between the world’s two biggest economies have grown. The Biden administration has prohibited the sale of sophisticated computer chips to China and is mulling a restriction on investment in some Chinese technology firms, potentially undercutting a key economic goal established by Xi for his country. The Democratic president’s statements that the U.S. will support Taiwan against a Chinese invasion have heightened tensions.

This discussion takes place in preparation for Yellen’s trip to Senegal, Zambia, and South Africa later this week. Yellen’s trip will be the first in a series of trips by Biden administration officials to countries in sub-Saharan Africa this year.

Because of its fast rising population and enormous natural resources, Africa is critical to the global economy. China’s expanding economic entrenchment in African states, which has seen it surpass the United States in trade with the continent to become one of the world’s top debtors, is also motivating the United States to strengthen connections with African nations.

Yellen has talked publicly at length regarding China’s funding policies on the continent, describing them as “economic activities that have hurt all of us.”

She has also clearly urged China to sever ties with Russia as the Kremlin pursues its invasion of Ukraine. In reaction for the conflict, the United States and its Asian and European allies have imposed sanctions and an oil price limits on Russia, placing China in a difficult position given that it had vowed a “no boundaries” relationship with Russia before the invasion began.

It will be Yellen’s first face-to-face meeting with Liu since assuming office, following three virtual sessions.

Author: Blake Ambrose

Rep. Chip Roy of Texas and other House Republicans are supporting legislation that would prohibit the United States from paying the World Health Organization.

The language of the proposal, according to a copy released by the Washington Examiner, declares that “the United States may not contribute any voluntary or assessed contributions to the World Health Organization.”

According to a news release, Roy was quoted as saying that “funneling millions of American taxpayer dollars to the fraudulent World Health Organization that supports the Chinese Communist Party is a huge slap in the face to the hardworking American people struggling under record high inflation and gas prices, and to all those whose lives and businesses were destroyed and damaged by the COVID pandemic.”


Despite the fact that there are some people in the United States who would be overjoyed by the possibility of reducing the amount of money given to the WHO by the United States government, it is highly unlikely that this idea would ever become law because Democrats control both the Senate and the White House. Roy has already proposed the legislation.

“The WHO not only advocates for abortion and gender ideology that is extremely radical on a daily basis, but it also commended China for their “leadership” at the start of COVID-19. The WHO has not taken any action to hold China accountable for the spread of COVID-19. It is long past time for Congress, like the Trump Administration, to exercise its veto authority to shut off US funding to this corrupt international agency,” Roy Stated, according to the press release.

Reps. Tom McClintock of California, Mary Miller of Illinois, Jeff Duncan of South Carolina, Andrew Clyde of Georgia, Matt Rosendale of Montana, Diana Harshbarger of Tennessee, Marjorie Taylor Greene of Georgia, Dan Bishop of North Carolina, Paul Gosar of Arizona, John Moolenaar of Michigan, Andy Biggs of Arizona, Pat Fallon of Texas, Greg Steube of Florida and Wesley Hunt of Texas joined Roy in introducing the bill. The press release also includes the name “Huggins” of Louisiana, which appears to be a misspelling for Rep. Clay Higgins.

Author: Steven Sinclaire
The Consumer Price Index (CPI) data for December has been out, and while overall inflation seems to have decreased in December, there are still warning signs that Americans should prepare for higher than normal price increases.

The good news is that inflation decreased by 0.1 percent from November and is now at 6.5 percent from a year ago, which is a significant decrease from November when it was at 7.1 percent. The bad news is that this was mostly caused by falling energy prices.

Via CNBC:

“The Dow Jones estimate, the CPI, which calculates the price of a large variety of services and goods, decreased 0.1% for the month. This is due to the fact that a large portion of the country was under lockdown because of Covid-19, this amounted to the largest month-over-month decrease since April 2020.”

“Even with the decrease, the headline CPI increased 6.5% from a year earlier, underscoring the ongoing strain that rising living costs have had on American consumers. But since October 2021, that was the smallest yearly increase.”

The core CPI, which doesn’t take into account volatile energy and food costs, increased 0.3%, thus above predictions. Once again in line, core was up 5.7% from a year earlier.

Fuel oil decreased in price by around 16.6% for the month, which caused the energy index to fall by 4.5%. However, there was a 0.3% modest increase in food costs.

The United States is still in trouble, as the Wall Street Journal notes.

The updated inflation statistics come after a number of indicators indicate the US economy slowed down in late 2022. In November compared to October, the United States’ imports and exports decreased, while retail sales, manufacturing output, and house sales were also down. The growth of jobs and wages slowed down in December.

Jamie Dimon, chief executive of JPMorgan Chase & Co., stated that in order to contain inflation, the Fed may need to raise its federal funds rate to 6%. That would be higher than the peak rate of 5% to 5.5% in 2023 that the majority of Fed officials projected following their meeting in December.

“The rate of inflation won’t quite decline as anticipated,” according to Mr. Dimon. “But it will undoubtedly start to decline a little.”

In line with that, Jerome Powell of the Federal Reserve has said that more interest rate increases are anticipated.

Powell stated that “price stability is the bedrock of a strong economy and provides the public with enormous advantages over time.” However, when inflation is excessive, maintaining price stability may necessitate actions that are unpopular in the near term when interest rates are increased to slow the economy.

“The lack of direct political control over our choices,” he said, “allows us to take these important changes without contemplating short-term political factors.”

In other words, you may anticipate the Fed to carry on as usual. The Biden administration, on the other hand, applauds today’s news as evidence that the President’s strategy for economic recovery is effective.

However, most economic indicators signal that the U.S. may still need to prepare for a recession. If they haven’t already, Americans should start saving, say financial experts, and economists are noticing clues in the most recent employment data that suggest companies may be preparing for trouble.

Author: Steven Sinclaire

George Soros’ nonprofit organization, the Soros Network, has reportedly contributed roughly $21 billion to left-leaning parties since 2000, according to new disclosures, the Capital Research Center revealed.

The Soros Network, often known as the Open Society Network, is made up of numerous private foundations and nonprofit organizations that have been among the biggest financial benefactors of left-wing activists and politicians worldwide.

Soros’ organizations funneled $2.7 billion into different left-leaning charities in 2021 alone, a large portion of which went to “dark money” organizations where the money can no longer be traced.

The Open Society Policy Center, the main lobbying branch of the Soros Network, distributed over $577 million in awards in 2021.

According to updated 2021 filings, the Soros Network donated $36 million to Arabella Advisors, a philanthropy consulting firm that distributes “black money” to numerous charities and people that “promote policy advocacy on structural change,” according to the CRC.

The New Venture Fund, Sixteen Thirty Fund, Windward Fund, and Hopewell Fund are just a few of the five NGOs that Arabella Advisors oversees. These organizations all act as incubators for leftist nonprofits.

Tides Advocacy received a $22 million grant from the Soros Network, another anonymous donor organization.

The Voter Registration Project got $4.5 million from the Soros Network in the run-up to the 2022 midterm elections to register prospective Democratic voters.

The Way to Win Action Fund received an additional $20 million, of which $400,000 was used to support Democratic candidates in the January 2021 special election for the Georgia Senate.

Democrat Stacey Abrams received $2 million from the Soros Network for her advocacy of “voting rights and election administration” despite losing two straight contests for governor of Georgia.

The network contributed $21 million to NEO Philanthropy’s advocacy group, some of which was used to support “advocacy on Latinx rights and empowerment” and the registration of “historically underprivileged voters.”

The Soros Network contributed $30 million to the left-leaning lobbying organization America Votes, which dubbed itself “the largest grassroots voter mobilization operation in the country today.”

Given $2.5 million was Courier Newsroom, a media site that charges “right-wing media and political elites” with “purposefully propagating falsehoods.”

The network gave Color of Change, a project of the Obama administration, $17.5 million. Color of Change has launched various campaigns against conservative organizations while supporting government-run healthcare and the Green New Deal.

The Soros Network donated $21 million to Borealis Philanthropy, a group that engages in identity-interest campaigning and organizing.

The Wall Street Journal reported in November that Soros contributed $128 million to Democratic committees, making him the biggest donor in the midterm elections.

In an effort to influence global policy, George Soros and his nonprofits have given roughly $21 billion to left-leaning politicians and groups globally since 2000, according to the latest reporting from CRC.

Author: Steven Sinclaire

According to a report from Bloomberg, Secretary of the Treasury Janet Yellen will continue to lead the division. She reportedly agreed to do so at President Joe Biden’s request.

Biden sought for her to remain in the position in the middle of December, according to a White House official was familiar with the situation, as the president was ready to have changes made to his Cabinet.

According to Bloomberg, this comes as concerns about Yellen’s tenure in the Biden administration have been raised, and a potential conflict over the impending debt ceiling and the risk of a potential recession is developing in the Republican-controlled U.S. House. The end result of Yellen staying is that she will be part of the administration during an anticipated confrontation over the debt ceiling.

The treasury secretary was reportedly planning to remain in the role “long after” the midterm elections, despite the fact that the White House was reportedly preparing for possible departures of senior staff members as well as Cabinet-level officials. Then, in November, following the midterm elections, Yellen told Peter Alexander of NBC News that she planned to serve for “the remainder” of the Biden presidency.

Bloomberg also said:

“The action also provides Yellen more time to complete several of her highest priorities, including as overhauling the IRS, making changes at the World Bank, as well as increasing pressure on Russia for its involvement in the Ukraine War using sanctions and the oil price cap.”

“Biden’s plea that she remain also puts to rest rumors that the White House had been attempting to choose Commerce Sec. Gina Raimondo to run the Treasury Dept., which was seen as an effort to promote a Democratic rising star to an upper cabinet post.”

Yellen received criticism last year for downplaying the rapidly rising inflation. In fact, she acknowledged that she “was mistaken” about inflation during an interview with CNN that aired in May. She continued by saying that “unanticipated and significant shocks to the economy” had “enhanced energy and food prices” and that she “didn’t completely comprehend” the supply constraints that had a negative impact on the economy.

Author: Scott Dowdy

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