More Economists: IRA Will Have Barely To No Effect On Reducing Inflation

By William Teach August 24, 2022 – 10:30 am

Yeah, this is not a repeat of other articles on the negligible effect of the “Inflation Reduction Act”

Inflation Reduction Act ‘will have no measurable impact on inflation,’ economists say

President Biden recently signed the Inflation Reduction Act (IRA) into law with the goal of taming inflation and addressing climate, tax, and health care issues.

According to economists, however, the $430 billion price tag over the next 10 years is a hefty amount for what they consider to be marginal economic returns.

“Our preliminary analysis of the ‘Inflation Reduction Act’ (IRA), a climate, tax, and health-focused bill, shows it will boost the level of GDP by about 0.2%-0.3% by the end of 2031 and, despite its name, will have no measurable impact on inflation,” Oxford Economics economists wrote in a new note.

Though economists at Wells Fargo agreed that the IRA’s actual effect on inflation would be minimal.

“In our view, the IRA will not have a major impact on the outlook for the U.S. macroeconomy over the next year or two,” the economists wrote in a separate note. “A tightening of fiscal policy can be disinflationary by slowing aggregate demand growth. The IRA does impose some fiscal tightening, such as the 15% minimum tax on corporations’ financial statement income and the 1% excise tax on stock buybacks. However, these new taxes are relatively small, amounting to just 0.1% of GDP per year.”

Mostly, those who think it will have an itty bitty effect are looking at the Obamacare subsidies being renewed and possibly the reduction of some medicine prices going down from negotiation (which doesn’t kick in till 2026). None are mentioning anything about the essentials, like food, clothing, and energy going down even a tiny bit.

Still, when combined with the recently passed CHIPS and Science Act and the Bipartisan Infrastructure Law passed in 2021, the passage of the IRA marks “unprecedented, sizable investments in the climate agenda,” the economists added.

If the big Republican groups, such as the Senate Leadership Group and the National Republican Congressional Committee, and the GOP leadership as a whole, had any brains they would be incorporating this into their campaign talking points right now, just like the murder party is yammering about their support for abortion on demand, because the IRA won’t help the middle and working classes with inflation, and will probably increase their cost of energy, which will increase the cost of essential and non-essential goods and services.

Read: More Economists: IRA Will Have Barely To No Effect On Reducing Inflation »

Posted in Democrats, Economy | 7 Comments | Trackback URL

Climate Scam Activist Want Furnaces Restricted

By William Teach August 24, 2022 – 7:00 am

They need to mind their own f’ing business

Activists petition EPA to restrict the use of home and commercial furnaces by 2030

A coalition of 26 climate change, public health and environmental justice advocacy organizations formally petitioned the Environmental Protection Agency (EPA) on Tuesday to regulate air pollution produced by residential and commercial heating appliances, a move that would require homeowners and businesses to swap out heating and hot water furnaces.

Noting that oil and gas-fueled boilers that provide heating and hot water in homes, offices, schools and hospitals produce between 9% and 10% of U.S. greenhouse gas emissions, and release nitrogen oxides, which can cause respiratory problems, the coalition called for the agency to issue rules mandating emissions-free residential and commercial home heating appliances by the end of the decade.

“To protect public health while achieving the added benefit of advancing the Biden administration’s carbon reduction goals, EPA must set zero-emission standards for such appliances by 2030,” the groups, which include the Sierra Club, U.S. PIRG, Environment America and Physicians for Social Responsibility, wrote.

What that would mean, in practice, is that the EPA would set a first-ever standard limiting the amount of nitrous oxides that residential and commercial heating systems can produce, on the grounds that emissions-free heating systems such as electric heat pumps are widely available.

So, yes, what they want is to restrict the use of natural gas boilers and furnaces, and natural gas, which would mean anyone who has one would have to replace it.

Critics of the proposal, however, argue that the difference in cost between electric heat pumps and fossil fuel furnaces could make it difficult for the EPA to justify enacting new restrictions.

“Promulgating regulation is about more than just zeroing out emissions, it also requires that the agencies are prudent in capturing a net-benefit to American households,” Philip Rossetti, resident senior fellow in the energy program at R Street, a conservative think tank, told Yahoo News. “A forced transition to alternative appliances will carry a cost which will disproportionately fall on poor and disadvantaged Americans.”

I just paid to replace my furnace, which is natural gas, with the AC system. Are the acticultists going to pony up with their own money to replace it? How about the gas fireplace? What they’ll try and do is make the cost of replacement units so expensive that you’ll have to replace it with electric ones, which will rise in cost because of that whole supply and demand thing. And make natural gas so expensive you’ll consider replacing with straight electricity. Because they’re cultist assholes.

Read: Climate Scam Activist Want Furnaces Restricted »

Posted in AGW Socialism, Global Warming | 10 Comments | Trackback URL

Brandon To Give Student Loan Relief Wednesday

By William Teach August 24, 2022 – 6:45 am

This is all an attempt to get those who took out loans, and quite often got degrees not worth it, overpaid for the degrees, or, are just not working to pay them back, to get out and vote Democrat in November. But, will they remember come November?

White House to announce student loan cancellation, payment pause extension Wednesday

The White House is expected to announce a plan to cancel a chunk of student loan debt on Wednesday, in addition to an extension of the existing payment pause, three sources with knowledge of the situation told The Hill.

Sources said President Biden’s intended measure will include at least $10,000 in loan forgiveness for borrowers who make less than $125,000 annually, as well as another payment freeze for roughly four months.

The $10,000 figure would be the largest forgiveness of federal student loans per individual to date.

The move comes just a week ahead of the White House’s self-imposed Aug. 31 deadline. The timing has left millions of Americans waiting for guidance from the Department of Education on whether student loan payments that have been deferred since the start of the pandemic would resume next month.

Guess who gets to pay for it? Someone has to repay the loan companies. If they’re direct federal loans (why is the federal government even doing this?), it’s on the taxpayer. If private companies are getting stiffed, then they will make it a lot harder for college kids to get loans.

The potential announcement on Wednesday comes within the smallest window of time borrowers have had to determine when their payments would resume. The White House, under Biden and former President Trump, has extended the pause six times since March 2020, sometimes giving borrowers up to a month’s notice on whether their bills would be due.

You still have to pay your home loan, right? How about your car? And other things?

But the $10,000 in forgiveness for a much wider breadth of borrowers will likely not satisfy some Democrats or activists who have pushed the Biden administration to forgive much more in federal student loan debt.

No, it won’t. They’ll demand even more free money.

In May, Senate Majority Leader Charles Schumer (D-N.Y.), Sen. Elizabeth Warren (D-Mass.) and Sen. Raphael Warnock (D-Ga.) met with Biden to push for forgiveness. Advocates and other Democrats, including Schumer, have pressed for forgiveness of $50,000 per borrower or to cancel debt entirely.

If you’re racking up that much debt, you better be getting a damned good degree, not in something like Feminism or any other ism that might get you a job slinging coffee.

Oh, and the cost?

According to the Penn Wharton Budget Model, a one-time maximum debt forgiveness of $10,000 for borrowers who make less than $125,000 will cost around $300 billion for taxpayers.

Surely, the IRS won’t go after those making less than $400k to pay for this, right?

Read: Brandon To Give Student Loan Relief Wednesday »

Posted in Democrats, Joe Biden | 3 Comments | Trackback URL

Joe Lieberman Really Wants Climate Doom Bipartisan Action

By William Teach August 23, 2022 – 3:00 pm

Has former Senator Joe Lieberman looked at what the climate cultists want to do? Has he seen how far towards authoritarian government his traveled?

The urgent need for climate change bipartisanship

The climate change legislation signed by President Joe Biden this month was a historic political accomplishment and a big step forward in America’s capacity to help stop the warming of the Earth. Climate change threatens our security, our prosperity and even our freedom as much as terrorism did after 9/11. But like climate change bills I worked on in the Senate for years, it did not win bipartisan support. This needs to change. Until it does, the responsible and sensible course is to try to pass legislation with the votes of one party, which is what congressional Democrats just did.

Based on my experience as a U.S. Senator, I believe that the new law, the Inflation Reduction Act, was adopted along party lines not because Democrats refused to reach out to Republicans but because Republicans were not willing to get involved. Climate change is not a partisan problem so legislation to solve the problem should not be partisan. On every climate bill I introduced in the 1990s right up through early 2013 when I retired from the Senate, I sought and found an important Republican cosponsor, from Sens. John Chafee (R-R.I.) to John McCain (R-Ariz.) to John Warner (R-Va.) to Lindsey Graham (R-S.C.). But each time one of our proposals came to a vote, almost all Senate Democrats voted for it and almost all Senate Republicans voted against it. And so, after almost 15 years of trying, we never got anything done. Not much has changed in the years since 2013. Democratic senators like Sheldon Whitehouse (D-R.I.) continued to work very hard to build bipartisan support for climate change action, and never get any.

The partisan split about such an urgent national and global crisis must stop. The fears of global warming are no longer based on scientific modeling but can be seen and felt by all of us in extreme weather, greater heat, more wildfires, stronger and more frequent storms, visibly melting polar ice and mountain snow, animal life moving to stay alive, crops threatened in their traditional ground, as well as sea levels rising.

Let me ask: why must the split stop? Why should Republicans simply give in to Big, Controlling Government? Why can’t the Democrats give in a bit? Why must it always be Republicans who give up their political beliefs? If this is such a huge, massive, global crisis, why is it that most Warmists have made virtually no changes in their own lives? Why is Biden still running around using lots and lots of fossil fuels? Have all the Democrats who voted for the (not an) inflation reduction bill dumped their fossil fueled vehicles and purchased EVs? How about you, Mr. Lieberman?

Top Dems won’t say how much inflation bill will decrease global temperatures

Several top Democratic lawmakers and the White House were silent when asked about the exact impact the Inflation Reduction Act would have on climate change. (snip)

Still, the White House, Pelosi, Schumer, Manchin and other lead proponents of the bill in the House and Senate didn’t respond to inquiries from Fox News Digital highlighting the projected dismal effect of the bill on climate change.

House Energy and Commerce Committee Chairman Frank Pallone, D-N.J., and Sens. Martin Heinrich, D-N.M., Brian Schatz, D-Hawaii, Chris Murphy, D-Conn., and Sheldon Whitehouse, D-R.I., were also contacted for comment. The lawmakers were all major proponents of the legislation’s climate provisions.

Of course they won’t answer, because it will have virtually no impact. Should have asked them if they’ve purchased EVs and stopped taking fossil fueled flights.

Read: Joe Lieberman Really Wants Climate Doom Bipartisan Action »

Posted in AGW Socialism, Democrats, Global Warming | 12 Comments | Trackback URL

If All You See…

By William Teach August 23, 2022 – 1:00 pm

…are wonderful plants that suck up carbon pollution, but taxing people would be better, you might just be a Warmist

The blog of the day is Bunkerville, with a post on a principle calling the cops on a maskless 4 year old.

Read: If All You See… »

Posted in If All You See | 3 Comments | Trackback URL

Trump Lawyers Request Judge Appoint Independent Auditor On Documents

By William Teach August 23, 2022 – 10:30 am

No one really trusts the FBI anymore, not that those who are unbelievably biased care

Trump seeks special master to review Mar-a-Lago documents

Lawyers for former President Donald Trump asked a federal judge Monday to halt the FBI’s review of documents recovered from his Florida estate earlier this month until a neutral special master can be appointed to inspect the records.

The request was included in a federal lawsuit, the first filing by Trump’s legal team in the two weeks since the search, that takes broad aim at the FBI investigation into the discovery of classified records at Mar-a-Lago and that foreshadows arguments his lawyers are expected to make as the probe proceeds.

The lawsuit casts the Aug. 8 search, in which the FBI said it recovered 11 sets of classified documents from Mar-a-Lago, as a “shockingly aggressive move.” It also attacks the warrant as overly broad, contends that Trump is entitled to a more detailed description of the records seized from the home and argues that the FBI and Justice Department has long treated him “unfairly.”

“Law enforcement is a shield that protects America. It cannot be used as a weapon for political purposes,” the lawyers wrote Monday. “Therefore, we seek judicial assistance in the aftermath of an unprecedented and unnecessary raid” at Mar-a-Lago.

There was no need for this raid. There was no need for 30+ agents coming at dawn all armed up and wearing ballistic protection. There was no need for the overly broad search. No need to search Melania’s closet. The idea was to put Trump on the defensive, to make him look bad. But, come on, most either love him or hate him. But, what of the middle ground who liked his policies but couldn’t stand the constant yapping and tweeting?

Trump turns his legal battle after FBI search into political rallying cry

Donald Trump’s new lawsuit over the FBI search of his Florida resort codifies his political fury into a legal strategy and implicitly spells out how the ex-President intends to exploit the drama as a springboard for his likely 2024 White House bid. (snip)

While the motion is a formal legal document, it serves as a political roadmap that explains how Trump would style himself as a presidential candidate persecuted, as he sees it, for partisan reasons by the Biden administration. It’s also offers 27 pages of talking points for Trump’s GOP allies and serves to take the focus away from the core questions in the case: did he illegally and recklessly keep classified information and government secrets to which he was not entitled and which could put national security as risk? And did Trump or those around him try to obstruct the investigators from continuing their pursuit?

CNN tries, of course, to beat on Trump, but, what’s happening here is that it entices Trump to run for president. If the media and the government moonbats with Trump Derangement Syndrome had just moved on, Trump may have moved on. Not now. And it gives Americans a good view of how Government can simply do whatever they want whenever they want. If they can do this to Trump, they can do this to you. That will resonate will lots of middle ground voters.

Read: Trump Lawyers Request Judge Appoint Independent Auditor On Documents »

Posted in Donald Trump, Government | 15 Comments | Trackback URL

Doom Today: Nearly All Marine Species Will Soon Be In Danger Of Extinction From ‘Climate Change’

By William Teach August 23, 2022 – 8:12 am

We can solve this by you buying an EV, new home appliances, and weatherizing your home you know

Nearly all marine species threatened by climate change: Study

On the current trajectory of global greenhouse gas emissions, nearly all marine species will be at high or critical risk of extinction in less than 80 years, according to a study published Monday by Nature Climate Change.

The study, which was conducted by an international team of researchers, looked at the effects of rising air and water temperatures due to the burning of fossil fuels on the marine animals, plants, protozoans and bacteria found in the upper 100 meters of the world’s oceans. In that depth, the study noted, “climate-driven temperature changes are the most severe.”

If the world was to continue on its current rate of greenhouse gas emissions, “almost 90% of ~25,000 species are at high or critical risk of extinction,” the study concluded.

The thing is, there’s no way to prove or disprove this bit of cult doomsaying for 80 years, not that anyone in the Credentialed Media would demand proof. The time frame is too far out. And that’s the way they want it

Mitigating the effects of climate change “reduces the risk for virtually all species,” the study found. The findings come as the U.S. enacts the Inflation Reduction Act, the first major piece of legislation designed to curb greenhouse gas emissions and speed the transition to renewable sources of energy.

See? Biden inflation reduction bill that doesn’t reduce inflation can help save all the species in the ocean! If you cooperate and spend gobs of money you don’t have.

Read: Doom Today: Nearly All Marine Species Will Soon Be In Danger Of Extinction From ‘Climate Change’ »

Posted in AGW Scaremongering, Global Warming | 13 Comments | Trackback URL

LGB: 74% Say America Headed In Wrong Direction

By William Teach August 23, 2022 – 7:00 am

It’s rather historic, you know

Record percentage says US headed in wrong direction: NBC poll

Nearly three-quarters of voters in a new poll said they believed things in the U.S. were headed in the wrong direction.

An NBC News poll revealed just 21 percent of voters feel the nation is headed in the right direction, while 74 percent think the opposite.

Over half of respondents, or 58 percent, said they feel “more worried that America’s best years may already be behind us,” while 35 percent feel more confident the best years are still ahead.

About a third of respondents, or 34 percent, said they think the state of the nation will worsen over the next five years. Just two percent more, or 36 percent, said they think things will get better in that same time period, and 21 percent said they think things will stay the same.

Post COVID things were supposed to get better. Instead, they keep getting worse. Ace Of Spades points out

In addition, a combined 71% think that the “Inflation Reduction Act” — which the media now nigh-exclusively calls a “climate bill” — will either have no effect on inflation or make inflation worse.

Of course, Trump is still living rent free

 

Read: LGB: 74% Say America Headed In Wrong Direction »

Posted in Economy, Joe Biden | 3 Comments | Trackback URL

French Government Already Looking To Establish Climate Crisis Con Police

By William Teach August 22, 2022 – 3:00 pm

I wonder if the CCCP (or maybe Climate Disaster Security (CDS)?) will go after all the politicians who have huge carbon footprints and lots and lots of fossil fueled travel?

Great Reset: French Govt to Recruit 3,000 ‘Green Police’ over Climate Change

Green Climate Thought PoliceA senior minister in France has demanded that the country create 3,000 ‘green police’ posts in the face of global warming.

Gérald Darmanin, who serves as France’s Minister of the Interior, has announced that he aims to create 3,000 posts for new “green police” officials, a move that he has deemed necessary in the face to tackle climate change.

News of the potential creation of these new posts in France follows calls from European Union bigwigs for the creation of a bloc-wide “Civil Protection Force” to fight the effects of climate change under the control of Brussels, a move slammed by some as an attempt by Eurocrats to hoard even more power.

In an interview with Le Journal du Dimanche, Darmanin justified the creation of 3,000 new posts specifically aimed at green-related criminal issues by citing the effects climate change was having on France, especially in regard to forest fires, nine out of ten of which have allegedly been caused by human activity.

“Faced with this, we must improve the work of judicial investigation,” the journal reports the politician as saying.

Hey, French citizens will be good with the CCCP investigating and arresting them, right, since they say they support this stuff, right? No? They only want this to apply to Other People?

“We have therefore decided to massively reinforce the resources of the Central Office for the Fight against Damage to the Environment and to launch 3,000 ‘green police’ posts,” he continued. “The objective is that, in each gendarmerie brigade, there are gendarmes trained in attacks on ecology.”

“It will be a revolution,” Darmanin added.

A revolution? Like when the communists took over places like China, North Korea, Cuba, and Venezuela?

I’m going to have to fix that graphic now with an acronym.

Read: French Government Already Looking To Establish Climate Crisis Con Police »

Posted in AGW Socialism, Global Warming | 2 Comments | Trackback URL

If All You See…

By William Teach August 22, 2022 – 1:00 pm

…is a bright blue sky from ‘climate change’ causing lots of heat and drought, you might just be a Warmist

The blog of the day is Jo Nova, with a post Woke having a grip on young women.

Read: If All You See… »

Posted in If All You See | 29 Comments | Trackback URL
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