Year: 2022

Why Putin’s Nuclear Threat Resonates

Buck Banks

“The advent of tactical nuclear weapons — a term generally applied to lower-yield devices designed for battlefield use, which can have a fraction of the strength of the Hiroshima bomb — reduced their lethality, limiting the extent of absolute destruction and deadly radiation fields. That’s also made their use less unthinkable, raising the specter that the Russians could opt to use a smaller device without leveling an entire city. Detonate a one kiloton weapon on one side of Kyiv’s Zhuliany airport, for instance, and Russian President Vladimir Putin sends a next-level message with a fireball, shock waves and deadly radiation. But the blast radius wouldn’t reach the end of the runway.”

— Anthony Faiola

Summer: Fed’s Course Leads to Stagflation, Recession

Buck Banks

“I believe the Fed has not internalized the magnitude of its errors over the past year, is operating with an inappropriate and dangerous framework, and needs to take far stronger action to support price stability than appears likely. … The Fed’s current policy trajectory is likely to lead to stagflation, with average unemployment and inflation both averaging over 5 percent over the next few years — and ultimately to a major recession.”

— Larry Summers, who served as U.S. Treasury Secretary from 1999 to 2001.

Xi’s Economic Plans Spell Disaster for China’s Economy

Buck Banks

“Last year, President Xi Jinping seemed all but invincible. Now, his push to steer China away from capitalism and the West has thrown the Chinese economy into uncertainty and exposed faint cracks in his hold on power. … Chinese policy makers became alarmed at the end of last year by how sharply growth had slowed after Mr. Xi tightened controls on private businesses, from tech giants to property developers. Meanwhile, China’s stringent Covid lockdowns, part of Mr. Xi’s approach to handling the crisis, have ramped up again as Covid cases surge, hurting both consumer spending and factory output.”

— Wall Street Journal

GOPers Taking Credit for Things They Voted AGAINST

Pensito Editors


It has long been the practice of Republican lawmakers to take credit for local benefits of bills they voted against. Politico shares these examples of Republican lawmakers taking credit for projects in the government spending bill even though they all voted against it:

  • Claudia Tenney (R-NY): She lists eight projects that she “secured” while noting: “While I could not support this portion of the bill, I am pleased that the bill includes several Community Funding Projects I advocated for to benefit our local communities.”
  • Rep. Clay Higgins (R-LA): The Louisiana conservative lists four projects that will get funding “specifically requested and secured” by the congressman. “Despite my objections to the bill in its totality, we worked closely with the House Appropriations Committee to secure funding for several important Louisiana projects.”
  • Rep. Chris Jacobs (R-NY): He lists seven community projects while noting he opposed the overall legislation due to “partisan policies that erode the Second Amendment and grow domestic spending.”
  • Rep. Dan Meuser (R-PA): He touts $14 million going to eight projects for his district in a press release. “Passage of this bill is the culmination of more than a year of working with stakeholders in our communities to identify and secure federal support for their critical needs.”

    • Most Americans Don’t Believe Biden Will Run Again

    Buck Banks

    52%

    A new Wall Street Journal poll found that 52% of Americans don’t think Joe Biden will run for re-election in two years, while 29% do expect him to pursue a second term. Nineteen percent are undecided about his future. Among Democrats, 41% said they think Biden will run again, while 32% said they didn’t think he would. The poll found 26% of those Democrats unsure.