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Joe Biden Met with Hunter’s Business Associates More Times Than with His Cabinet


By: M.D. Kittle | December 20, 2024

Read more at https://thefederalist.com/2024/12/20/joe-biden-met-with-hunters-business-associates-more-times-than-with-his-cabinet/

President Joe Biden holds a rare cabinet meeting.
The WSJ reports Biden met infrequently with his cabinet, while emails show he interacted ‘countless’ times with his degenerate son’s clients.

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They say the U.S. presidency is the loneliest job in the world. Maybe the second-loneliest gig is that of Cabinet secretary in President Joe Biden’s administration. 

piece published Thursday in the Wall Street Journal pulls from dozens of sources who say Biden’s inner circle of trusted aides increasingly kept contact with the president at a minimum, including the people he should have depended on most to consult and advise for the good of the nation. 

The president who has spent a good chunk of his term out of the office apparently was not all that keen on meetings with his Cabinet secretaries. In fact, Biden may have met more often with his criminal son’s sketchy clients than he has with his administration’s top managers.

‘Hide the President’s True Condition’

Joe Biden was such a political liability that his handlers hid him away during the 2020 presidential campaign. The man campaigned from his Delaware basement through the brunt of the election year. The cloistered strategy wasn’t as much about protecting the feeble geezer from Covid as it was designed to prevent American voters from seeing what a physical and mental mess Biden really was. 

Even the Pravda Press, which was openly rooting for — and covering for — the Democrat gaffe machine, was forced to report on Biden’s bunker campaign. 

“Over the past six weeks, presumptive Democratic presidential nominee Joe Biden has been running his campaign from his Delaware basement,” CBS News reported in April of 2020, showcasing a fluff piece from The New York Times about how team Biden was attempting to “keep his campaign relevant during the pandemic.”

The occasional programmed Zoom calls notwithstanding, keeping Biden “relevant” (or electable), meant keeping him hidden — literally underground. 

That limited contact strategy has defined the octogenarian’s presidential tenure. Biden has held the fewest number of press conferences and media interviews of any president since Ronald Reagan’s first term, and it isn’t close, Axios reported in late June. The publication at the time noted that Biden was about to sit for a rare interview with ABC News” …  “amid growing concern about his age and acuity — and accusations that his inner circle has taken pains to hide the president’s true condition from public view.” 

Quaintly, back then Axios and its corporate media bedfellows were still trying to convince Americans not to believe their lying eyes, that there were “two Bidens”: the 81-year-old who had recently froze up like so much freezer peas in his debate with former President Donald Trump, and the virile campaigning Joe. 

‘Wouldn’t be Welcome’

It turns out, Biden wasn’t just hiding from voters. He was ducking his own Cabinet. 

 “Interactions between Biden and many of his cabinet members were relatively infrequent and often tightly scripted. At least one cabinet member stopped requesting calls with the president, because it was clear that such requests wouldn’t be welcome, a former senior cabinet aide said,” reports The Wall Street Journal in a piece headlined, How the White House Functioned With a Diminished Biden in Charge.”

The story further noted that “cabinet members — including powerful secretaries such as Defense’s Lloyd Austin and Treasury’s Janet Yellen — were infrequent or grew less frequent. Some legislative leaders had a hard time getting the president’s ear at key moments, including ahead of the U.S.’s disastrous pullout from Afghanistan.”

Like other aging, cognitively diminished seniors, Biden had his “good days, and bad days,” one former aide told the publication. The president has routinely gotten a pass from fellow Democrats and corporate media on his memory lapses, mumbled and jumbled answers to questions, and outright lies. Remember, Special Counsel Robert Hur’s report detailing Biden’s possession and mishandling of classified documents recommended the president not be prosecuted because a jury might well see him as a “sympathetic, well-meaning elderly man with a poor memory.”

Meeting with the ‘Big Guy’

But as The Federalist has reported, said “well-meaning elderly man” is alleged to have interacted with Hunter Biden’s suspect clients “countless times.” Devon Archer, the younger Biden’s former business associate, testified before a congressional committee last year that Hunter put his father, vice president at the time, on speakerphone nearly two dozen times while talking to overseas business contacts. Archer discussed Hunter’s involvement on the board of Ukrainian natural gas company Burisma Holdings and the hefty checks it wrote to a guy seemingly unqualified for the job. Archer and others have alleged Burisma and other “clients” were paying for the Biden “brand.” Aka, access to the vice president.

“Burisma would have gone out of business if ‘the brand’ had not been attached to it,” the New York Post reported, quoting from a readout from panel Republicans.

“Archer talked about the ‘big guy’ and how Hunter Biden always said, ‘We need to talk to my guy,’ ‘We need to see when my guy is going to be here,’ and those types of things,” Rep. Andy Biggs (R-Ariz.) told reporters as he left the deposition in July 2023. 

There were many more interactions between Vice President Joe Biden and his son’s other business associates, according to the laptop that the Deep State and the accomplice media long claimed did not exist. As The Federalist’s Tristan Justice reported:  

Biden reportedly met with Ukrainian, Russian, and Kazakhstani business partners at a famous D.C. establishment in 2015. The meeting, arranged by Hunter, took place at one of Georgetown’s most famous restaurants, Café Milano… Vadym Pozharskyi, an executive at the Ukrainian energy company Burisma, thanked Hunter for the introduction to his father.

“Dear Hunter, thank you for inviting me to DC and giving an opportunity to meet your father and spent [sic] some time together,” Pozharskyi wrote in an email released by the New York Post weeks before the 2020 election.

And visitor logs show Hunter Biden’s business pals paid a call on the White House at least 80 times while Biden was VP, Fox News reported. A meeting with the elder Biden at the time involved Chinese businessmen tied to a firm that Hunter Biden had invested in. 

Earlier this month, the president issued a sweeping, unprecedented pardon of his multi-felon son, not merely for the serious crimes for which he was found guilty but for crimes that he may have committed during his salad days with Burisma and the other business associates seeking access to the “Big Guy.” 

The Disaster of Absence 

As president, Biden has held just nine full Cabinet meetings, the Wall Street Journal reported. The numbers include three such sessions in 2021, two in 2022, three in 2023 and only one this year. By comparison, President Barack Obama led 19 Cabinet meetings and President Donald Trump called 25 in their first terms, the Journal noted, using data obtained by former CBS News reporter Mark Knoller.

While White House officials have disputed Biden’s distance and decline, the cloistering of the cognitively slipping president appears to have contributed to some disastrous consequences. 

Rep. Adam Smith, a Washington Democrat who chaired the House Armed Services Committee in 2021, told the Wall Street Journal that he was shut out of conversations with the president leading up to the administration’s debacle of a withdrawal from Afghanistan. 

“I was begging them to set expectations low,” Smith, who had misgivings about how the operation would go, told the publication. 

The Journal reported that “[f]ormer administration officials said it often didn’t seem like Biden had his finger on the pulse.” Many of us have often been left wondering if the president has had a pulse at all. 

Witness accounts and his degenerate son’s own emails suggest Biden had plenty of vim and vigor when it was time to talk about corrupt financial deals. It was the business of protecting and leading America that he seemed disinterested in during his historically awful presidential term. 


Matt Kittle is a senior elections correspondent for The Federalist. An award-winning investigative reporter and 30-year veteran of print, broadcast, and online journalism, Kittle previously served as the executive director of Empower Wisconsin.

Biden Fell for China’s Empty-Promises Playbook at The San Francisco Summit


BY: HELEN RALEIGH | NOVEMBER 17, 2023

Read more at https://thefederalist.com/2023/11/17/biden-fell-for-chinas-empty-promises-playbook-at-the-san-francisco-summit/

Xi Jinping

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President Joe Biden and China’s leader Xi Jinping met this week on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. The Biden administration touted the meeting as a significant foreign policy achievement, even though it accomplished little but photo ops.

Leading up to the APEC meeting, Xi had a weak hand, while the leverage was on the U.S. side. China’s economic growth has slowed down significantly. Its once high-flying property sector crashed and exports dropped. The youth unemployment rate reached 22 percent in June 2023 before Beijing stopped publishing the data altogether out of fear of causing public panic. Foreign firms have pulled billions out of China, concerned over its weak economy, hostile regulatory environment, and geopolitical tensions with the U.S. China risks prolonged economic stagnation as consumers are unwilling to spend money due to financial and political uncertainty.

In contrast, the U.S. economy grew almost 5 percent in the third quarter despite facing its own

challenges, such as inflation and ballooning national debt. Since China needs American companies’ investments and technologies to revive its weak economy, Biden could have waited for Xi to plead for a summit and used it as leverage to demand some behavioral changes from China. Preconditions could have been that China’s military stops its harassment of Taiwan and the Philippines in the South China Sea, or no more funding Russia and Iran’s geopolitical aggressions by purchasing their oil.

Sadly, Biden and his foreign policy team are known to turn U.S. leverage into weakness by focusing on the wrong priorities. For example, they continue to believe that climate change is the world’s biggest challenge and that the U.S. needs China’s cooperation to save the planet, even though China remains the world’s biggest polluter after signing the Paris Climate Agreement.

Biden’s green initiatives have only deepened the U.S. economy’s dependency on China since the communist regime dominates the global supply chain for solar panels, wind turbines, and batteries for electric vehicles due to its willingness to exploit slave laborers (most are ethnic minorities) and the nation’s abundant supply of coal.

Biden, led by misguided policies, sent several cabinet-level officials to China, including Secretary of State Antony Blinken and Treasury Secretary Janet Yellen. They practically begged Xi for a meeting. Xi, of course, played hard to get. Rather than reciprocating senior U.S. government officials’ multiple visits, Xi waited until last month to send Wang Yi, China’s minister of foreign affairs, to visit the U.S. and only recently agreed to a meeting with Biden. 

A few days before the summit, China’s People’s Daily, the mouthpiece of the Chinese Communist Party (CCP), faulted the U.S. for the deterioration of the Sino-U.S. relationship and demanded the U.S. “abandon its aggressive Cold War and aggressive mindset, fix the ‘action deficit’ with practical actions and concrete policies,” even though China is the one who has an action deficit as wide as the Grand Canyon. Remember when Xi promised President Barack Obama not to militarize artificial islands in the South China Sea and then armed those islands anyway and claimed 90 percent of the international waterway is Chinese territory?

Communist Party’s Playbook

What Xi has been doing is following the typical CCP playbook. Miles Yu, a former senior adviser to Secretary of State Mike Pompeo, points out that CCP leaders, starting with Mao, love to “use international gatherings to lend legitimacy to [a] beleaguered regime at home.” By playing hard to get with the Biden administration, Xi hid his weakened hand behind a strongman image. He “seeks to send the message to his caged people — aided by the CCP’s relentless propaganda machine — that their supreme leader is respected, even revered, on the global stage,” according to Yu. Another CCP go-to tactic is to make vague and unenforceable pledges for the distant future in exchange for concessions from the other side now.

Unfortunately, the Biden team fell for the CCP’s trick. In a post-summit press conference, Biden put on a brave face and claimed the summit was “among the most constructive and productive we’ve had,” with three key agreements: to restart cooperation on controlling fentanyl, to resume direct (high-level) military-to-military contact, and to set up expert exchanges on risks and safety issues in artificial intelligence (AI).

But none of these represent any meaningful achievement, since the CCP is known for making empty promises, and the joke is on whoever believes them. On the fentanyl issue, many China observers, including Kelley Currie, a former diplomat, quickly pointed out on X, “Don’t forget that China agreed to do this exact thing in 2019 and dramatically reduced the flow of fentanyl out of China, only to switch tactics and instead supply mass amounts of precursor chemicals to Mexican cartels.”

On the AI issue, China promised nothing. Xi has made enhancing the People’s Liberation Army’s capabilities through AI a national priority and has already committed plenty of resources for AI research and development. Xi will not change his course because of some experts’ exchanges on AI with Americans. If such a discussion occurs, China will exploit it to identify which American AI expert to poach and what latest AI technology China should steal.

Military Aggression

Biden clearly believes that resuming direct, high-level military-to-military contact between the U.S. and China was a significant accomplishment. He tweeted, “Clear and open communication between our defense establishments is vital to avoid miscalculation by either side and prevent conflict.” But it was Chinese military leaders who refused to pick up phone calls from the U.S. side, and they did so under Xi’s order.

Chinese pilots frequently made dangerous maneuvers near the U.S. and its allies’ military assets in the South China Sea, not because of a lack of communication but because of Xi’s deliberate policy decision: China regards the international water as its territory and tries to block the U.S. and its allies from accessing it through intimidation. According to Jacob Stokes, a senior fellow at the Center for New American Security, “China wants the United States and its partners to feel worried about rising military and security risks in East Asia.”

It’s unlikely the Chinese military’s aggressive behavior in and above the South China Sea will stop after the Biden-Xi summit. Furthermore, Elbridge Colby, a former Pentagon official, points out that military-to-military communication is “not vital. It’s not the key issue.” Responding to Biden’s self-congratulatory tweet, Colby wrote, “The key issue is China undertaking a historic military buildup and increasingly using that military to get ready for a war, as your own appointees and generals point out. Just really nowhere near the seriousness we need.”

President Biden and his foreign policy team want Americans to believe that his meeting with Xi in San Francisco was successful. But in truth, the U.S. gained nothing from the Biden-Xi summit. Don’t expect Xi to fulfill any promises or change his policies. The U.S.-China Economic and Security Review Commission’s recent 753-page report to Congress presented evidence that Xi is preparing his military forces and the rest of the country for war and treats diplomacy with the United States, such as the most recent Biden-Xi summit, “primarily as a tool for forestalling and delaying U.S. pressure over a period of years while China moves ever further down the path of developing its own economic, military, and technological capabilities.”

If anything, the world is becoming more dangerous after the Biden-Xi summit, and we are on Xi’s timeline.


Helen Raleigh, CFA, is an American entrepreneur, writer, and speaker. She’s a senior contributor at The Federalist. Her writings appear in other national media, including The Wall Street Journal and Fox News. Helen is the author of several books, including “Confucius Never Said” and “Backlash: How Communist China’s Aggression Has Backfired.” Her latest book is the 2nd edition of “The Broken Welcome Mat: America’s UnAmerican immigration policy, and how we should fix it.” Follow her on Parler and Twitter: @HRaleighspeaks.

Today’s THREE Politically INCORRECT Cartoons by A.F. Branco


A.F. Branco Cartoon – Muddy Waters

A.F. BRANCO | on March 18, 2023 | https://comicallyincorrect.com/a-f-branco-cartoon-muddy-waters/

Joe Biden says the US needs to stay in the Ukraine quicksand for as long as it takes.

Ukrain Quicksand
Political cartoon by A.F. Branco ©2023.

A.F. Branco Cartoon – Free Lunch?

A.F. BRANCO | on March 19, 2023 | https://comicallyincorrect.com/a-f-branco-cartoon-free-lunch-2/

Minnesota legislature tells schools that there is a such thing as a free lunch. Taxpayers say, FREE?!

Minnesota Free Lunch
Political cartoon by A.F. Branco ©2023.

A.F. Branco Cartoon – Unsafe Space

A.F. BRANCO | on March 20, 2023 | https://comicallyincorrect.com/a-f-branco-cartoon-unsafe-space/

Janet Yellen downplays the financial crisis due to Biden’s economic and energy crisis.

Yellen Financial Crisis
Political cartoon by A.F. Branco ©2023.

DONATE to A.F.Branco Cartoons – Tips accepted and appreciated – $1.00 – $5.00 – $25.00 – $50.00 – $100 – it all helps to fund this website and keep the cartoons coming. Also Venmo @AFBranco – THANK YOU!

A.F. Branco has taken his two greatest passions, (art and politics) and translated them into cartoons that have been popular all over the country, in various news outlets including NewsMax, Fox News, MSNBC, CBS, ABC, and “The Washington Post.” He has been recognized by such personalities as Rep. Devin Nunes, Dinesh D’Souza, James Woods, Chris Salcedo, Sarah Palin, Larry Elder, Lars Larson, Rush Limbaugh, and President Donald Trump.

Inflation Beats Expectations As Food, Grocery Prices Shatter Records


By JOHN HUGH DEMASTRI, CONTRIBUTOR | September 13, 2022

Read more at https://dailycaller.com/2022/09/13/inflation-drop-wont-stop-fed/

FILE PHOTO: U.S. President Joe Biden signs "The Inflation Reduction Act of 2022" into law at the White House in Washington
REUTERS/Leah Millis/File Photo

Inflation was at 8.3% in August, significantly exceeding economists’ predictions with core prices jumping even higher, according to data from the Bureau of Labor Statistics’ Consumer Price Index (CPI).

Core prices, which measures all prices less food and energy, remained elevated at 6.3%, slightly higher than July’s 5.9%, according to the BLS. With core prices remaining strongly elevated, it is unlikely that the Federal Reserve will slow its rate of interest increases designed to combat inflation, and will once again hike rates by 0.75% next week, according to The Wall Street Journal. (RELATED: Fed Unveils Bleak Forecast In Another Troubling Sign For The Economy)

Economists had predicted inflation to decrease from 8.5% to around 8.1%.

“The Federal Reserve will require at least three months of reassuring inflation data—along with evidence of a cooling labor market—before considering softening its tone,” said Mark Haefele, chief investment officer at UBS Global Wealth Management, according to the WSJ. This estimate is in line with the Federal Reserve’s estimate that the fight against inflation will likely take until the end of the year, according to a report.

The energy index continued to fall 5% from Julybut energy costs have still increased 23.8% year-on-year, according to the BLS. Gasoline in particular remains high at 25.6%, down from 44.9% in July, with fuel oil remaining up 68.6% even after falling 5.9% in August.

Food prices posted the largest 12 month increase in 43 years, with a 11.4% year-on-year increase in national food prices, up from July’s 10.9%, according to the BLS. Prices for shelter also remain elevated, increasing 6.2% year-on-year, compared to 5.7% in July.

Under President Biden’s economic plan, we’re:
– Bringing home jobs that went overseas
– Making things here in America
– Making our supply chains more secure
– Winning the race for the future

— The White House (@WhiteHouse) September 10, 2022

The Biden administration has been taking a victory lap on economic conditions, with Treasury Secretary Janet Yellen claiming that the U.S. had undergone an exceptionally rapid recovery “by any traditional metric,” in remarks at a Ford electric vehicle facility Sept. 8. She went on to say that “Household balance sheets are strong.”

The Federal Reserve, which operates independently of the Biden administration, has been less optimistic, and described the economy as “generally weak” in a report just one day prior to Yellen’s speech. Roughly half of the regional banks that comprise the Federal Reserve system reported that their regional economies were either stagnant or declining, with the remainder reporting either slight or modest growth.

“Last month President Biden made a huge production over a 0.0% month-to-month change in the CPI from June to July,” said Peter C. Earle, economist at the American Institute for Economic Research in a statement to the Daily Caller News Foundation. “There isn’t anything to celebrate in today’s July-to-August CPI numbers, so the likely spin will be to return to touting the so-called Inflation Reduction Act.”

Democrats’ Budget Set To Include Global Minimum Tax, Treasury Secretary Says


Reported by ANDREW TRUNSKY, POLITICAL REPORTER | October 11, 2021

Read more at https://www.conservativereview.com/democrats-budget-set-to-include-global-minimum-tax-treasury-secretary-says-2655272188.html/

US-SENATE-HEARING-CARES ACT
Kevin Dietsch/Pool/AFP via Getty Images

Treasury Secretary Janet Yellen said Sunday that she is confident that the Democrats’ budget will include a global minimum tax for corporations just days after nearly 140 countries endorsed the measure.

“I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package,” Treasury Secretary Janet Yellen told ABC News on Sunday. “I hope that it will be passed and we will be able to reassure the world that the United States will do its part.

Though the United States and 135 other countries signed the agreement, each nation must pass its own legislation to enact the minimum tax rates. Democrats are currently crafting the budget, a spending package that would reshape the social safety net, but the process has slowed by disagreements between the party’s moderate and left wings.

Discussions regarding the global minimum corporate tax began earlier in 2021 and were led by the Organization for Economic Cooperation and Development (OECD). The agreement requires at least a 15% corporate tax on multinational companies with revenue greater than 750 million euros annually, which the OECD projected may generate up to $150 billion in tax revenue per year. 

Another report found that corporations shift $1.38 trillion in profits into global tax havens per year, causing countries where the profit was generated to lose $245 billion in annual tax revenue.

Yellen said the deal could reverse the “global race to the bottom” regarding corporate tax rates and instead give countries the “resources we need to invest in our people and our economies.”

“[It] is really something we need to make globalization work and to make it work for American workers,” she added.

‘Biden’s Raging Inflation Crisis’: Consumer Prices Surge 5.4%, Led By Food And Energy Costs


Reported by THOMAS CATENACCI | REPORTER | August 11, 2021

Read more at https://dailycaller.com/2021/08/11/joe-biden-white-house-consumer-prices-inflation-federal-reserve-economy/

Consumer Prices Continue To Rise, Accelerating At Fast Pace
Scott Olson/Getty Images

Inflation increased at a rapid 5.4% clip compared to August 2020, the Department of Labor said Wednesday. The Consumer Price Index (CPI), a common tool used to measure inflation, increased 0.5% between June and July, according to the Labor Department report. “It will be another very hot number with the fingerprints of the pandemic all over it,” Moody’s Analytics chief economist Mark Zandi told CNBC before official numbers were released.

Energy and food costs contributed the most to the higher-than-normal figure, rising 0.7% and 1.6% respectively last month, the report showed. Gasoline ticked up 2.4% in July and a whopping 41.8% year-over-year.

The CPI increased at an annual rate of 5.4% in June, 5% in May and 4.2% in April, according to government data. Inflation rose 0.9% in June, the quickest increase since August 2008. 

The Federal Reserve, which has downplayed rising consumer prices as a temporary product of the rapid economic recovery, acknowledged last month that inflation could be “higher and more persistent” than it previously forecasted. Treasury Secretary Janet Yellen recently predicted continued “rapid inflation” over the medium term, after months of suggesting it would subside quickly.

Federal Reserve Board Chairman Jerome Powell appears for a Senate Banking Committee hearing on July 15. (Win McNamee/Getty Images)

Federal Reserve Board Chairman Jerome Powell appears for a Senate Banking Committee hearing on July 15. (Win McNamee/Getty Images)

The White House has repeated the predictions made by the Federal Reserve and Yellen, calling inflation transitory and ensuring it would return to normal by 2022.

“It’s also important to note, though — because we rely on the Federal Reserve for projections — that they are projecting to come back to normal levels next year, and this is still foreseen as a transitory impact on prices,” White House Press Secretary Jen Psaki told reporters Tuesday.

She added that inflation remained at an elevated level due to a large number of supply chain shortages around the world, a theory prominent economists have backed.

“The kind of inflation now is driven by the fact that there aren’t enough used cars, that the oil markets are rocking and rolling, that housing construction demand is high and there’s been trouble getting sawmills up and running,” Beacon Economics founding partner Christopher Thornberg told The Wall Street Journal.

Used car prices have surged 41.7% over the last year, according to Wednesday’s Labor Department report. Conservatives and other economists have blamed Biden’s high-spending for the increased prices affecting Americans.

“The Democrats’ reckless tax & spending spree fuels Biden’s raging inflation crisis & will drive U.S. debt to $45 TRILLION,” Republican Florida Sen. Rick Scott tweeted Tuesday.

Treasury Department Invokes ‘Extraordinary Measures’ To Avoid Busting US Debt Ceiling


Reported by VARUN HUKERI, GENERAL ASSIGNMENT & ANALYSIS REPORTER | August 02, 2021

Read more at https://dailycaller.com/2021/08/02/treasury-department-janet-yellen-debt-ceiling-congress/

Senate Appropriations Considers Treasury Department's Budget Request
(Shawn Thew-Pool/Getty Images)

The Treasury Department will conduct emergency cash-conservation measures starting Monday to avoid busting the U.S. debt ceiling after a two-year deal to suspend the federal borrowing limit lapsed at midnight Sunday.

Treasury Secretary Janet Yellen warned House Speaker Nancy Pelosi in a letter July 23 that the Treasury would invoke the “extraordinary measures” if Congress didn’t raise the debt ceiling. Yellen noted that trillions in federal spending and COVID-19 response laws made it difficult to estimate how long the Treasury would sustain its measures.

“The period of time that extraordinary measures may last is subject to considerable uncertainty due to a variety of factors, including the challenges of forecasting the payments and receipts of the U.S. government months into the future, exacerbated by the heightened uncertainty in payments and receipts related to the economic impact of the pandemic,” she wrote.

The debt ceiling prevents the Treasury from issuing new bonds once a certain limit is reached. Congress had suspended the debt limit for two years as part of a budget deal in August 2019, when the ceiling reached $22 trillion, according to Bloomberg. A new debt ceiling would include additional borrowing since, reaching $28.5 trillion according to the Congressional Budget Office. 

US President Joe Biden sits alongside US Treasury Secretary Janet Yellen (R) as he holds a meeting with business leaders about a Covid relief bill in the Oval Office of the White House in Washington, DC, February 9, 2021. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB/AFP via Getty Images)

President Joe Biden sits alongside Treasury Secretary Janet Yellen as he holds a meeting in the Oval Office of the White House February 9, 2021. (Saul Loeb/AFP via Getty Images)

Yellen’s cash-conservation measures would allow the Treasury to redeem certain investments in federal pension programs and halt new investments in order to generate revenue, CNBC reported. But payments on entitlement programs and interest on federal debt, among other things, would stop unless the federal government floats new Treasury bonds.

Economists said the measures allow the Treasury to pay off federal government obligations without accruing new debt for two to three months, CNBC reported. But Congress must raise or suspend the debt ceiling or risk the U.S. defaulting on its debt.

The federal government has never defaulted, as such a move would have far-reaching consequences for the economy. Although economists said they’re optimistic Congress will reach a deal on the debt ceiling, the prospect appears less certain in Washington.

A bipartisan group of lawmakers in the Senate are seeking to pass a trillion-dollar infrastructure bill while Democrats are considering a separate $3.5 trillion reconciliation bill later this year.

An aide to House Democratic leadership told CNBC that discussions about the ceiling are ongoing and congressional leaders do not want to risk the “full faith and credit” of the U.S. government.

President Joe Biden’s administration, on the other hand, may not get involved in discussions about the debt ceiling. A White House official told CNBC that “it is Congress’s responsibility to raise or suspend the debt limit in order to pay for the spending it has already authorized over the years.”

Yellen Predicts ‘Rapid Inflation’ After Downplaying Risk For Months


Reported by THOMAS CATENACCI, REPORTER | July 16, 2021

Read more at https://dailycaller.com/2021/07/16/janet-yellen-treasury-department-federal-reserve/

BELGIUM-EU-ECOFIN
John Thys/AFP via Getty Images

Treasury Secretary Janet Yellen acknowledged “rapid inflation” will persist for several more months after she repeatedly downplayed the risk of consumer price increases. Americans can expect consumer prices to continue their rapid rise until returning to normal in the “medium term,” Yellen said Thursday in an interview with CNBC. But Yellen, along with top Federal Reserve officials, predicted inflation wouldn’t be a concern.

“We will have several more months of rapid inflation,” Yellen told CNBC. “So I’m not saying that this is a one-month phenomenon.”

“But I think over the medium term, we’ll see inflation decline back toward normal levels,” she said. “But, of course, we have to keep a careful eye on it.” 

Yet in February, Yellen downplayed the risks of inflation, saying the Treasury Department had the tools to deal with the risk “if it materializes.” She also pushed back on former Treasury Secretary Larry Summers’ warning that President Joe Biden’s $1.9 trillion coronavirus relief package would trigger massive, once-in-a-generation inflation.

Yellen added that the Biden administration was more worried about jobs than rising prices.

President Joe Biden speaks as Treasury Secretary Janet Yellen listens during a White House meeting on April 9. (Amr Alfiky/Pool/Getty Images)

President Joe Biden speaks as Treasury Secretary Janet Yellen listens during a White House meeting on April 9. (Amr Alfiky/Pool/Getty Images)

One month later, the Treasury secretary downplayed inflation again when asked if the $1,400 stimulus checks included in the relief package could boost prices, according to the Associated Press. She again pushed the legislation, saying it was key for a full economic recovery.

“I really don’t think that is going to happen,” she said in the March 8 interview, the AP reported. “We had a 3.5% unemployment rate before the pandemic and there was no sign of inflation increasing.”

Then, one week later, Yellen doubled down, arguing again that there wouldn’t be significant inflation.

“Is there a risk of inflation? I think there’s a small risk and I think it’s manageable,” Yellen told ABC News.

“I don’t think it’s a significant risk,” she continued. “And if it materializes, we’ll certainly monitor for it but we have tools to address it.”

However, consumer prices have surged faster than they have in decades, according to government data. Economists also expect inflation to rise higher and for longer than previously expected.

In addition, several major U.S. corporations have recently announced price increases while the highest number of small businesses have reported price hikes since 1981.

These Leftist can’t even lie convincingly anymore, and it obviously doesn’t bother them. When they lie it’s their native language.

Give Me More! Biden Team Pushes For MORE Stimulus Spending Despite Signs Economy is Stabilizing


Posted by Trish ReganTrish Regan | February 19, 2021

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Treasury Secretary Janet Yellen appeared on CNBC Thursday afternoon to push for more stimulus spending saying that, “a big package” is necessary to help the economy recover and that, “the price of doing too little is much higher than the price of doing something big.”

Apparently, the Treasury Secretary is not familiar with the Fall of the Roman Empire (or, she is, but is deliberately choosing to ignore.) It was Rome’s debt crisis that led the fall of the Roman Republic and it’s not inconceivable that the history could repeat itself in modern day America.

Biden Administration Tries to Make Its Case

The reality is: $1.9 Trillion is a lot of money. Especially on the heels of the multiple trillions already spent. But, the Biden administration has its script and it’s sticking to it. “Give me more!” is the mandate.

Kamala Harris went on the Today Show Wednesday to plead for stimulus to open the schools (interestingly, of the $128 billion being demanded for education, only $6 billion is allocated for the opening of schools in 2021 – the rest is spread out over the next seven years.)

And, President Joe Biden keeps talking his “book” — by highlighting every negative in the economy in an effort to create more pressure for stimulus spending. Though the economy added jobs last month, Biden tells us, “at this rate it will take ten years to return to full unemployment.”

Meanwhile, the Federal Reserve is signaling its willingness to continue printing money with Fed Chairman Jerome Powell telling the Economic Club of New York last week that although he is seeing some signs of inflation, it’s just a “transient thing that we think will pass.”

I wouldn’t count on that.

Debt & Inflation Caused Roman Empire to Implode

Again, I return to the biggest causes of the fall of Rome: massive debt, rampant inflation, over-taxation, too many freebies, feudalism, and an enormous trade deficit with Iran (rather like China today.)

Consider the similarities: We have massive debt, high taxation, too many freebies, major trade deficits, a kind of feudalism (a system that benefits the wealthiest Americans seemingly at the expense of the middle class) and we are soon to be looking at rampant inflation. How could we not? Last year alone, in 2020, we raised the money supply 24% — the biggest surge in the 150 years that we’ve been tracking our currency.

All this spending has consequences. Sadly, our politicians are too selfish to recognize any long-term economic issues. It’s always about the next election and they’ll spend as much money as it takes to get ahead in the polls. But, as Mark Twain said,

“history doesn’t repeat itself, but it often rhymes.”

Let’s not let the United States of America go the way of the Roman Empire.

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