Biden administration

The president of platitudes

President Joe Biden turned up almost three hours late to his Nato press conference tonight. He offered no apology, because, well, why should he? He then gave a short speech. It was adequate enough, albeit predictable and rigid — read as it was almost entirely from a teleprompter. It wouldn’t be Biden if he didn't open with a gaffe, though. He managed to stumble early by saying ‘we’re still averaging in the last seven days the loss of 300 deaths per day.’ In answer to a press question about Putin, he said ‘I’ll be happy to discuss with you when it’s over, not before, about what the discussion will entail’. That didn’t make much sense. He successfully quoted Benjamin Disraeli and said ‘the proof will be in the pudding’ without jumbling the words.

platitudes
lithium supply chain

Biden’s supply chain plan is a step in the right direction

Before the Industrial Revolution, all manufacturing was local as transportation costs were prohibitively high, unless the goods could be shipped by water. Every town had its own cobbler to make shoes, for instance. With the coming of the railroads in the mid-19th century, national markets could develop. A shoe factory in Worcester, Massachusetts, could now be competitive everywhere. This led to vast economies of scale, bringing down the price of goods and thus increasing the demand for them. After World War Two, global trade increased by orders of magnitude, thanks to both the great lowering of tariffs and other trade restrictions and to the invention of the shipping container.

Carrie and Jill: the real summit

All eyes today are on…Carrie and Jill, as the remainder of the G7 summit is effortlessly overshadowed by the leaders’ spouses. The First Lady of the US is having tea today with Carrie Johnson — this being Cornwall, it will be a cream tea, with scones. This is pretty well obligatory when you visit Cornwall. Mrs Johnson is not actually first lady of the UK, since no such role exists, and the only First Lady is the Queen, but irritatingly the British media have adopted the Americanism, so stand by for headlines along the lines of 'First Ladies Meet’. Thank goodness, then, the British prime minister got round to marrying his girlfriend just last Saturday, before the summit — in fact, one wonders whether the nuptials were timed precisely to avoid any awkwardness.

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Why should Amazon be exempt from Biden’s global tax?

Donald Trump wasn’t a man for international agreements. Just imagine for a moment, though, that it was him rather than Joe Biden who had just persuaded the G7 to back a minimum global corporation tax rate. Would it be hailed as a great breakthrough for fairness, a sideswipe against amoral global corporations?  Like hell it would. On the contrary, the same deal pulled off by Trump would have been attacked as a charter for the big tax avoiders to carry on as they are — as well as a bullying attempt by the US to divert more tax revenues to its own shores at the expense of smaller countries with competitive tax rates. There are two elements to the agreement reached over the weekend. The first is the proposed minimum tax rate of 15 percent.

jeff bezos amazon

A belated check from President Biden

Montpellier, France I got a letter from Joe Biden, which doesn’t happen every day. In the envelope was a check, made out to me, for $1,400. The letter is headed THE WHITE HOUSE WASHINGTON and dated April 22 although it has taken some time to drop into the boîte aux lettres due to the President experiencing confusion over my address. ‘My fellow American,’ he began. Although I am not one I did once work there and paid Social Security contributions, apparently qualifying me for the President’s generosity. ‘I am pleased to inform you,’ he continued, ‘that because of the American rescue plan, a direct payment was issued to you.’ Having attracted attention, Joe, my new best friend, continues. ‘This has been a hard time...brighter days are ahead...

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Who wants Biden’s massive budget?

President Joe Biden just proposed the largest budget (as a percentage of America’s economy) since the country was fighting Nazi Germany, Imperial Japan and Fascist Italy. He’s doing it when there is no emergency, only an overweening desire to pass progressive programs quickly, before they lose their legislative majority. The best historical analogue to his proposed budget increase is Lyndon Johnson’s cradle-to-grave Great Society Program. It has the same flaws. In fact, Biden’s program is best understood as the next step in a long political arc, extending from Franklin Roosevelt to LBJ to Obamacare. All of them proposed centralized government solutions to almost every social problem, particularly endemic problems among the poor.

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Why did the Biden administration shut down Pompeo’s lab leak probe?

Joe Biden and his administration want you to know that they are not — repeat not — soft on China. Look, look — Biden has said all sorts of mean things about Xi Jinping, calling him a ‘thug’ who doesn’t have a democratic bone in his body. Cockburn is sure the president of the People’s Republic sobs into his pillow each night. There have been testy diplomatic exchanges between Beijing and Washington of late — and lots of Beltway talk of insisting on Chinese transparency (good luck). There’s also been a fair few spoon-fed editorials saying that Biden could in fact prove much tougher on China than President Trump ever was.

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Is Biden’s inflated presidency about to burst?

Is President Joe Biden living up to expectations? It’s hard to say, since the expectations generated on his campaign trail were so murky. Biden made plenty of promises on the stump but only one thing was ever clear: he wasn’t Donald Trump. Beyond that, no one was really certain what iteration of Biden would enter the Oval Office on Inauguration Day. A pragmatic moderate or a progressive ideologue? A return-to-normal steady hand or a malarkey-scourging bomb thrower? The law-and-order author of the PATRIOT Act or the 'Black Lives Matter' anti-racist he suddenly morphed into last summer? Biden was so defined by who he wasn’t that no one ever quite worked out who he was. Now we have our answer. Whatever moderation was once attributed to him has been quickly abandoned.

inflation

Does the border feel under control to you?

President Biden told NBC at the end of last month that the border crisis is ‘way down now; we've now gotten control’. At first glance, this is preposterous. The number of border arrests in April was a 21-year high, at more than 178,000, with more than a third of all arrests being families or unaccompanied minors. To get a sense of the scale, President Obama's Homeland Security secretary, Jeh Johnson, has said that 1,000 border arrests a day 'overwhelms the system’ — in April, daily arrests averaged nearly 6,000. Does that sound like a border that's under 'control’? But President Biden's seemingly absurd comment isn't simply another in his endless series of gaffes.

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Joe Biden and the magic money nightmare

‘We have nothing to fear but fear itself,’ said Franklin D. Roosevelt famously, at his first inauguration in the depths of the Great Depression in 1933. What he didn’t allow for was the danger of overconfidence. Yes, a country can talk its way into recession, but it can also print and spend its way into an inflationary nightmare. That is the worrying prospect now facing America as Joe Biden, a president often compared to FDR, tries to tempt the country into a post-Covid spending spree courtesy of magic money. It has become deeply unfashionable to worry about inflation. According to proponents of modern monetary theory, what happened in Weimar Germany and more recently in Mugabe’s Zimbabwe somehow is not relevant to developed economies.

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Wait, the pandemic’s over?

Just like that? Nothing about this pandemic, or the science behind it, or the vaccines that have stopped it, tells us that something changed suddenly and magically for vaccinated people yesterday. But today we can finally lose our masks, as President Biden’s CDC finally announced a full loosening of mask restrictions other than crowded indoor spaces and public transportation. Joe Biden wants you to believe that this day arrived by the good graces of science and his administration’s tireless work, but that would be incorrect. The public has been getting vaccinated since early January and we are now five months into 2021. It’s the same vaccine, yet we are supposed to buy the idea that today, May 13, 2021, will go down in history as the day the pandemic suddenly ended.

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How are we enjoying the Biden presidency so far?

Well, that didn’t take long. Less than four months into the Biden-Harris deep-state maladministration and we have roaring inflation, the most disastrous jobs report in recent memory, rising unemployment, spiking gas prices, an imploding stock market, devastating cyber attacks on critical infrastructure and a janus-faced crisis on our Southern border in which tens of thousands of disease-ridden illegal migrants are huddled into cages while thousands more fan out across the fruited plain taking jobs from Americans even as they infect us with COVID. Quick work, Joe! And of course that is just the tip of the proverbial North Atlantic iceberg into which His Senileness is steering the ship of state.

Who killed bipartisanship?

Who wants bipartisanship? The short answer is: neither side, so neither is getting it. Activists in both parties have been clear about that. There was a moment, last spring, when it seemed Democrats might opt for centrism. It came when Rep. James Clyburn endorsed Joe Biden, who went on to defeat Bernie Sanders and capture his party’s nomination. Biden promised general election voters a center-left agenda and extensive bipartisanship, though he did bow occasionally to his party’s left-wing. Biden may have been promising moderation and bipartisanship, but Donald Trump was not. Quite the contrary. He was a populist candidate who actually governed like one.

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New day, same message: Biden again downplays jobs report

It wasn’t the exact same speech, but the words were familiar and the message was identical. President Biden addressed the disappointing April jobs report on Monday, just as he did on Friday. Economists had expected the economy to create as many as one million jobs in that month, but employers added just 266,000. Biden insists that everything will be all right. It takes time to recover from a once-in-a-century pandemic, he said, urging patience both days and no doubt sensing the political danger a slowing economy puts on his ambitious infrastructure package and other spending proposals. On Friday, the president asserted that his $1.9 trillion stimulus package was a long-term play: 'We never thought that after the first 50 or 60 days everything would be fine.

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Exclusive: Biden admin practically begging DoD employees to volunteer for border detail

The Biden administration has twice extended the deadline for federal employees to volunteer for months-long deployments at the US-Mexico border, undermining the White House's attempts to downplay the recent severity of the migrant crisis. In a Department of Defense bulletin sent Friday and obtained exclusively by The Spectator, staff were informed that the deadline to apply to the Health and Human Services (HHS) volunteer program to assist with the influx of unaccompanied migrant children had been extended from May 7 to May 21. The deadline had previously extended from April 26 to May 7.

Unaccompanied migrant children in a DHS facility (Getty Images)
capital gains tax

The trouble with capital gains tax

President Biden wants to nearly double the tax on income from capital gains, currently at 20 percent, to 39.6 percent. Add to that the 3.8 percent Obamacare surcharge and you’re up to 43.4 percent. Many states tax capital gains as well and in 13 of them (plus the District of Columbia) the total tax on capital gains would be over 50 percent with the proposed new federal rate. In California it would be a staggering 56.7 percent. But it gets worse. Unlike the tax on regular income, the capital gains tax is not indexed for inflation. So with long-held assets, much of the gain is illusory. For instance, if you bought an asset in 1971 for $50,000 and sold it this year for $1,000,000, you would owe taxes on a nominal capital gain of $950,000. At 56.

Joe Biden, master of puppets?

They’ve finally found a way to make Joe Biden look young and vigorous: put him next to a Jimmy Carter doll. It’s elder abuse, though I’m not sure who’s being abused here. I had thought that the most alarming image of this year would be the one of the QAnon shaman at the Speaker’s desk in the Capitol Building. But the photo of Joe and Dr Jill with Jimmy and Rosalynn Carter really is a riot. The Bidens look like ventriloquists, dropping by a seniors’ center to cheer up the inmates. The Carters look like dolls, awaiting the insertion of their owners’ hands so that they can jump into jerky life. This is the official photo, selected by the Carter Center. We have to wonder what obscenities are contained in the outtakes.

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The media’s horrid hundred days under Biden

President Joe Biden’s first 100 days have been devastating for the media. America’s trust in the press plummeted to new lows during the Trump administration, yet for the most part people kept watching. Consumers subscribed and clicked and watched the never-ceasing news cycles. For news networks, it was the best of times even if they were telling America it was the worst of times. Stormy Daniels, Russian collusion, Impeachment Part I, two scoops of ice cream, Russia bounties, Impeachment Part II: news consumption was sky-high. But when Trump moved back to Mar-a-Lago, he took his ratings with him. How does that Fleetwood Mac song go? ‘Well, I've been afraid of changing, 'Cause I've built my life around you.

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Exclusive: Biden admin sending 500 USDA employees to assist with border crisis

The Biden administration is asking US Department of Agriculture employees to abandon their day jobs and volunteer for months-long stints at the US-Mexico border, despite repeatedly insisting that the influx of unaccompanied minors has not reached 'crisis' levels. The USDA's Natural Resources Conservation Service (NRCS) offered employees an 'informational unaccompanied minors' session last week 'to learn more about volunteer detail opportunities for employees', according to an email obtained by The Spectator. Volunteers would be responsible for working directly with migrant children to interview them for their legal cases and help connect them with adult sponsors residing in the United States.

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Will Joe Biden really squeeze the rich?

The American Recovery Plan Act: $1.9 trillion. The American Jobs Plan: $2 trillion. The American Family Plan $1.5 trillion. It’s fair to say that the Biden administration’s attempts to transform the country are adding up. We keep being told, by the very enthusiastic pro-Democrat press corps, not to underestimate the radicalism of the new president, and Joe Biden is eager to prove the point. He really is proposing to remold the American economy and his government is wasting little time. He and his advisers clearly take the FDR comparisons seriously. But the trouble with gargantuan government spending is that, even in the topsy-turvy world of pandemic economics, the people of the country eventually have to foot the bill.

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