Previous analyses of “by the numbers” can be accessed by entering the phrase in the search box above. We look at the numbers to truly find out how good, not likely, or bad, most likely, the American political class is doing in managing our tax dollars, protecting our freedoms, and resolving major issues that affect all of us.
1)Inflation and the cost of just about everything has risen dramatically since Biden’s economic policies took root. At one point, price inflation was running at 40 year highs. And while inflation has dropped down from that ridiculously high level, it is still running over 50% higher than what is normal.
And gas prices have not been immune to this economic insanity:
- Keep in mind that when Biden came into office, the average national price of gas was around $2.00 a gallon.
- The most recent survey of gas prices nationally found that they were at $3.83.
- This was about 90% higher than when Biden took office, only about 2.5 years ago.
- And somehow Biden is defying conventional economic knowledge since AAA says that less gas is being burned this summer season which would traditionally result in falling prices, given falling demand.
- But Biden’s economic policies are so screwed up that lower demand somehow drove up gas prices.
- And if you think that $3.83 is way too high for a gallon of gas, consider that the average price in California is a whopping $5.03 a gallon, Washington state’s average price is $4.99, and Oregon’s average price is $4.64.
- Biden continues the Washington history of being economically ignorant when it comes to economic policy.
- Why do we have a Federal Department of Energy when it has done nothing to make energy inexpensive in this country or make us energy independent?
2)We could spend many days and many posts reviewing the financial and likely criminal corruption of the Biden crime family. Kickbacks, play to pay schemes, outright gifts from foreign entities, etc. The list of corruption activities gets longer everyday. Consider:
- The House of Representatives Oversight Committee recently released bank records of multiple Biden family members.
- These records show that these family members received more than $20 million just from Russia, Ukraine, and Kazakhstan.
- According to the Committee: “In Spring 2014, a Ukrainian oligarch placed Archer and Biden on the Burisma board of directors and agreed to pay each of them $1 million per year. Then-Vice President Joe Biden visited Ukraine soon after they joined Burisma. Hunter claimed credit for this visit to show “value.””
3)A former business partner of Hunter Biden, Devon Archer, recently produced sworn testimony in front of the House Oversight Committee that said a company controlled by Kenes Rakishev, a Kazakhstan oligarch, wired a large sum of money to a Hunter controlled bank account.
This was about the time that Rakishev had dinner with Archer, Hunter Biden, and then Vice president Joe Biden. The $142,300 that was wired was then sent to a car dealership which Hunter Biden used to buy himself a Porsche.
Rakishev is believed to be worth about $1 billion and is considered one of his country’s most important businessmen. He is also alleged to be a close friend of Ramzan Kadyrov, a Chechen warlord. These are the types of people around the world that Biden family members were receiving money from.
4)But others were also at this dinner mentioned in the previous point:
- Also at the dinner was Yelena Baturina.
- She is the former CEO of a huge Russian real estate company and wife of the late mayor of Moscow.
- A bank account allegedly tied to her wired $3.5 million to a Hunter Biden associate account around the same time of the dinner.
5)One thing that Washington politicians have never been able to do is operate a budget where costs are aligned with tax revenue. As a result:
- The current Federal government national debt is around $32,000,000,000,000 or $32 trillion.
- This comes out to just over $99,000 for every man, woman, and child in the country.
- Thus, a family of four would have to write a check for just under $400,000 to theoretically cover their fair share of the debt, an impossibility.
- And you cannot solve this debt issue by “taxing the rich,” a usual stupid solution some politicians propose, since consider: if you could somehow confiscate 100% of the assets of the country’s richest people and liquidate those assets to pay off the national debt you would account for only 1.6% of the debt.
- And Biden continues to fund this disaster since the Federal government’s budget deficit for this year’s first ten months is more than 50% higher than the deficit vs last year, $1.7 trillion.
- Thus, Biden has increased the Federal debt that has been accumulating for hundreds of years by over 5% in less than a full year.
- For the first 10 months of this year, Federal government spending was up 10% while Federal government tax revenue was down 10%, a lethal financial situation.
- According to The Committee for a Responsible Federal Budget president Maya MacGuineas, the Federal government is now borrowing $5.3 billion per DAY to cover its expenses.
- No wonder that the financial rating agency, Fitch, recently downgraded the Federal government’s credit rating.
You cannot keep spending more money than you have and assume you are not going to go bankrupt at some point in time. And when that happens at the Federal government level, you will see massive inflation that makes Biden’s inflation numbers look tame in comparison. The numbers do not lie: Biden’s inflation, Biden’s corruption, and a Federal government spending itself into oblivion.
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