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The PCE index shows that progression on bringing down inflation has stalled.
The post Fed’s Preferred Inflation Gauge Show Prices Rising Sharply appeared first on Breitbart.
Southwest Airlines will be cutting jobs and ceasing operations at four airports while reducing flights from others to cut costs amid Boeing's ongoing complications.
The post Southwest Cuts Jobs, Quits Four Airports Due to Boeing Woes appeared first on Breitbart.
The Democrat majority at the FCC voted on Thursday to restore the Obama-era net neutrality rules.
The post Democrat FCC Majority Votes to Restore Obama-Era Net Neutrality Rules appeared first on Breitbart.
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At least 13 financial institutions are being investigated for colluding with the federal government to spy on Trump supporters.
The post Nolte: Report Says 13 Banks Helped Feds Spy on Trump Supporters appeared first on Breitbart.
On Wednesday’s broadcast of the Fox News Channel’s “Jesse Watters Primetime,” House Speaker Rep. Mike Johnson (R-LA) stated that Columbia University and other schools that “are engaging in this kind of nonsense” similar to what’s happening at Columbia do not
The post Speaker Johnson: Columbia Shouldn’t Get Taxpayer Dollars appeared first on Breitbart.
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The Federal Trade Commission (FTC) has banned almost all noncompete employment agreements that prohibit workers from switching to competing businesses or starting one of their own.
The post FTC Bans Noncompete Agreements for Employers, Chamber of Commerce Sues to Block It appeared first on Breitbart.
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FBI authorities served subpoenas at Illinois' Dolton Village Hall on Friday afternoon as Mayor Tiffany Henyard (D) fields corruption accusations, per Fox 32.
The post VIDEO: FBI Serves Subpoenas at Dolton Village Hall amid Democrat Illinois Mayor Tiffany Henyard’s Corruption Scandal appeared first on Breitbart.
On Thursday’s broadcast of the Fox News Channel’s “Your World,” Minneapolis Federal Reserve Bank President Neel Kashkari stated that stimulus spending was “a contributor to the high inflation that we’ve seen.” And “the spending on infrastructure, the spending on new chip
The post Minneapolis Fed Pres: Biden Spending on Chips, Infrastructure ‘Is Inflationary’ and There Are ‘Cross-Purposes’ appeared first on Breitbart.
Just over one-third, 35 percent, of individuals believe former President Donald Trump did something overtly "illegal."
The post Poll: Just 35% Believe Donald Trump Did Something ‘Illegal’ in Alvin Bragg’s Criminal Trial appeared first on Breitbart.
Special operations forces require special men. Union major Henry Harrison Young was such a man—born for war.
The post Exclusive–O’Donnell: Lincoln’s Special Forces; Henry Harrison Young, A Man Born for War appeared first on Breitbart.
The Biden administration is proposing a new rule that would further entrench unelected federal bureaucrats from accountability to President Joe Biden or his elected successors.
Key to the new rule from the Office of Personnel Management is the effective “grandfathering” of federal employees into their current category of employment, making it harder for a future president to issue an executive order like the one that then-President Donald Trump signed in October 2020 to rein in the bureaucracy.
A rule listed in the Federal Register, like this one was Thursday, could be more difficult to overturn than an executive order because it would have to be reversed under the provisions of the Administrative Procedures Act, one former senior OPM official said.
“If such a rule were allowed to stand, it would tie a future president’s hands—at least temporarily—in carrying out his responsibilities to make and implement his policies,” said Robert Moffit, who was at OPM during the Reagan administration and is now a senior research fellow for health and welfare policy at The Heritage Foundation. (The Daily Signal is Heritage’s news and commentary outlet.)
The president cannot run the huge federal government from his office in the West Wing of the White House, Moffit told The Daily Signal.
Some career federal employees who have civil service protection are neither impartial nor nonpartisan, he added.
“To effect his policy, therefore, the president must not only have the ability to hire political personnel who will carry out his electoral mandate, but also remove career personnel who attempt to obstruct that mandate,” Moffit said. “So, any attack on any president’s capacity to carry out the policies upon which he was elected is fundamentally ant-democratic; it is an attack on the American people who elected him.”
Among other things, the OPM’s proposed rule would clarify that “the status and civil service protections an employee has accrued cannot be taken away by an involuntary move from the competitive service to the excepted service, or from one excepted service schedule to another.”
“Once a career civil servant earns protections, that employee retains them unless waived voluntarily,” the rule says.
In October 2020, just before the election he lost to Biden, Trump signed an executive order to create a new category of federal employee called Schedule F. Personnel in this category are in confidential, policy-determining, policymaking, or policy-advocating positions that remain on the payroll when a presidential transition occurs.
The executive order from Trump, who faced resistance to his policy changes from within the federal bureaucracy, gave agencies more flexibility and oversight for career employees in critical positions that affect policy.
Upon taking office in January 2021, Biden scrapped the Trump order. The final version of the new rule would make it more difficult for a future president to reverse, because it is a regulation published in the Federal Register rather than an executive order. Undoing it would require going through a time-consuming administrative procedure.
Career federal employees enjoy civil service protection, making it nearly impossible to fire them; by contrast, political employees serve at the pleasure of an elected president.
Career federal bureaucrats tend to be overwhelmingly Democrat-leaning based on their campaign donations; federal employee unions donate between 70% and 90% to Democrat candidates. Republicans have accused some career employees of blocking implementation of Republican presidents’ policies.
Project 2025, an initiative led by The Heritage Foundation that establishes a plan for the next conservative presidential administration, calls for restoring Trump’s Schedule F as part of a broader effort to rein in the federal bureaucracy.
This has been a long-standing policy goal for Heritage, Moffit noted.
“Respecting the president’s prerogatives to have the appointees necessary to carry out policies is one of the major reasons why former Heritage President Ed Feulner strongly opposed Republican attempts to hamstring Democratic President Clinton and reduce the number of his political appointees,” Moffit said.
“Political appointees can formulate the details of the president’s policies and see to it that they are implemented all the way down the chain through departments, agencies, subagencies, and bureaus of the federal government.”
Biden’s Office of Personnel Management issued the final rule Thursday, asserting it received 4,000 comments about it, and said the rule would be published Tuesday in the Federal Register.
“This final rule honors our 2.2 million career civil servants, helping ensure that people are hired and fired based on merit and that they can carry out their duties based on their expertise and not political loyalty,” OPM Director Kiran Ahuja said in a public statement. “The Biden-Harris administration is deeply committed to the federal workforce, as these professionals are vital to our national security, our health, our economic prosperity, and much more.”
According to the OPM press release, the new rule also would clarify that the phrase “confidential, policy-determining, policymaking, or policy-advocating” refers to positions that are noncareer, political appointments.
The rule also would establish procedural requirements for moving positions from “career” to “political,” and set up an appeals process for employees.
“Career officials are obviously crucial in the implementation of presidential policy,” Moffit told The Daily Signal. “Those of us who served in presidential administrations all have war stories, however, about how politically hostile civil servants, through various means, including intentional slow-walking or foot-dragging, can delay, thwart, or undermine the president’s policies.”
“A career civil servant who does not or will not carry out the policy of any president, regardless of party affiliation, should have the honor and the decency to resign,” he said. “They should not enjoy regulatory protection.”
The post Biden Protects Deep State Bureaucrats With ‘Anti-Democratic’ Rule appeared first on The Daily Signal.
Biden’s Net Neutrality is really the old Fairness Doctrine, revived--and it's still very unfair. A DEI delight.
The post Pinkerton: If You Liked the Fairness Doctrine, You’ll Love Net Neutrality appeared first on Breitbart.
A Southwest Airlines flight is under investigation after it nearly hit LaGuardia Airport's air traffic control tower during inclement weather.
The post VIDEO — ‘Go Around!’: Southwest Flight Under Investigation After Nearly Hitting LaGuardia Tower appeared first on Breitbart.
Employment grew much more than expected for the third month in a row.
The post Another Scorcher: 303,000 Jobs Added To U.S. Economy in March appeared first on Breitbart.
The Atlanta Fed said inflation is falling much more slowly than expected, so the Fed will probably not cut rates until the end of the year.
The post Bostic Says Fed Should Wait Until November or December To Cut Rates appeared first on Breitbart.
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The potential that the Fed's next move is up instead of down is arguably the most underpriced risk in the market.
The post Breitbart Business Digest: The Most Underpriced Risk in the Market Right Now appeared first on Breitbart.
The JOLTS report casts further doubt on the need for a rate cut from the Federal Reserve in the months ahead.
The post Job Openings Remain Very High, Indicating Resilient Demand for Workers appeared first on Breitbart.
The economy continues to defy expectations for a slowdown, casting doubt on the idea that the Fed will cut rates in the first half of this year.
The post Atlanta Fed’s GDP Tracker Jumps to 2.8% for First Quarter appeared first on Breitbart.
The Union Army had one of their best chances to capture and destroy Mosby’s Rangers, the comparatively small elite unit, at that time, of Confederate guerilla warriors terrorizing Federal troops in Northern Virginia.
The post Exclusive–O’Donnell: Extraordinary Operations Require Extraordinary Men; Mosby’s Rangers Shoot-Out at Miskel Farm appeared first on Breitbart.
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House Judiciary Committee chairman Jim Jordan (R-OH) is fighting censorship by a corporate cabal he alleges is "colluding to demonetize conservative platforms and voices," including Breitbart News.
The post Jim Jordan Fights Corporate Cabal Allegedly Censoring Conservative Voices, Including Breitbart News appeared first on Breitbart.
Joe Biden unveiled his 2025 budget proposal earlier today. In general, presidents’ budgets are hardly worth discussing. They project revenue and spending over the next ten years, and if you go back and look at them a few years later, they usually bear no relation to reality. And, in this instance, there is zero chance that Congress will pass anything resembling Biden’s budget, which can best be seen as a campaign document.
But, for what it is worth, this is what the Wall Street Journal had to say about it:
President Biden proposed Monday a $7.3 trillion budget for the next fiscal year that would raise taxes on wealthy people and large corporations, trim the deficit and lower the costs of prescription drugs, child care and housing.
Other than spending $7.3 trillion and raising taxes, it wouldn’t do any of those things. For purposes of comparison, federal spending in 2000, the last year of the Clinton administration, was $1.79 trillion. So Biden wants to spend almost exactly four times that much.
The fiscal 2025 budget would cut the deficit by $3 trillion over the next decade, and it would raise taxes by a net total of $4.9 trillion, or more than 7% above what the U.S. would collect without any policy changes.
Those hypothetical deficit cuts depend on economic forecasts in the out-years that won’t come true. The only meaningful fact is that Biden wants to raise taxes by nearly $5 trillion.
Biden’s purported budget is largely an exercise in fantasy:
The budget leaves some blank spaces. It lists principles for shoring up Social Security, without specifying a plan. It calls for paying for extensions of tax cuts for most households after 2025 but doesn’t detail how that would be paid for. And it calls for restoring the expanded child tax credit, but only temporarily, lumping that into the broader 2025 tax debate.
Biden’s budget proposes absurd taxes on corporations and “the rich”:
The budget repeats many past Biden tax-increase proposals, including higher tax rates on corporations and high-income individuals along with minimum taxes on the wealthiest Americans’ unrealized capital gains.
Which is insane. If the government taxes unrealized gains on unsold securities when the market goes up, will it write checks to investors when the market is down? Logically, it would have to, but of course that is not part of Biden’s proposal.
Biden rolled out several new tax increases last week, such as raising his new corporate alternative-minimum-tax rate to 21% from 15% and denying deductions when corporations pay any workers, not just top executives, more than $1 million.
The net effect of Biden’s proposals would be to give the United States one of the heaviest tax burdens in our history, equaled only once since World War II.
Is that because people are dying to give the federal government more money to waste? No, it is because many people are too naive to understand that, as has been said a million times, corporations don’t pay taxes, they collect them. Those taxes are actually paid mostly by customers (i.e., all of us) and secondarily by employees (i.e., most of us). But Biden’s budget is not about economics or, for that matter, mathematics, as the numbers will never add up. Rather, it is about politics:
Biden’s advisers are betting that a focus on lowering costs for families will help push the president to re-election.
Needless to say, Biden’s budget, if actually enacted, would raise costs for families, not lower them. Fortunately, there is zero chance of that happening.
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