Americans for Limited Government

If Biden chooses to default on the $31.4 trillion debt, it’s because he chose not to use ample revenue to pay interest on the debt. https://dailytorch.com/2023/05/if-biden-chooses-to-default-on-the-31-4-trillion-debt-its-because-he-chose-not-to-use-ample-revenue-to-pay-interest-on-the-debt/ If the U.S. defaults on the debt on June 1, it will be because President Joe Biden chose not to make principal and interest payments on U.S. Treasuries out of existing revenue, for which there is more than ample revenues to service and refinance up to the current debt ceiling limit, $31.4 trillion. While gross interest owed on the debt in 2023 is $897 billion there is more than ample revenue at the U.S. Treasury to meet those obligations: some $4.8 trillion of taxes collected annually, according to the White House Office of Management and Budget. There would still also enough revenue to meet Social Security ($1.346 trillion), Medicare ($821 billion), Medicaid ($608 billion) and defense spending ($800 billion). Between the gross interest and these programs, that’s about $4.47 trillion out of the $4.8 trillion of revenue. That is, if President Joe Biden chose to make payments to them on a continued basis while he and Congress were still negotiating an increase in the debt limit.

The House Oversight Committee is closing in on exposing the Biden family's corruption. In this video, we delve deep into the latest updates on the ongoing investigation surrounding Joe Biden, his son Hunter Biden, and their shady business dealings.

The House Oversight Committee is closing in on exposing the Biden family's corruption. In this video, we delve deep into the latest updates on the ongoing investigation surrounding Joe Biden, his son Hunter Biden, and their shady business dealings.

Durham report: Russiagate wrongfully predicated, no real remedy offered https://getliberty.org/2023/05/durham-report-russiagate-wrongfully-predicated-no-real-remedy-offered/ May 15, 2023, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to Special Counsel John Durham's final report to Attorney General Merrick Garland: "The Durham Report outlines 316 pages of Obama administration Justice Department, intelligence agencies and State Department abuses during the Russia collusion hoax. The report vindicates President Trump, who was wrongfully targeted by an alphabet soup of agencies that resulted in nearly three years of unwarranted investigations. These included the flagrant abuse of the FISA court system, which allowed for electronic surveillance for almost a year of the Trump campaign, transition and administration predicated on nothing more than the wild lies of the Hillary Clinton campaign and the DNC. "It is disappointing that Durham failed to provide Congress with a reasonable remedy to these abuses other than former Justice Department General Counsel and former Twitter general counsel Jim Baker's recommendation 'for an official to challenge both a politically sensitive FISA application and other stages of the investigation' during and after FISA's ex parte proceedings. Trusting the Justice Department to not lie again is not a solution to the destruction of individual liberty that the FISA warrant abuses have revealed. Abusers of this system must be held legally accountable. Either all those involved were dupes, and future penalties for federal officials should range from losing your job and pension if you're too stupid to ask any questions about spying on presidential campaigns and/or significant prison time if you're found to have been actively attempting to change election results or take down an elected president under false pretenses with spying." Attachments: Special Counsel John Durham’s final report, May 12, 2023 at https://www.justice.gov/storage/durhamreport.pdf

Durham report: Russiagate wrongfully predicated, no real remedy offered https://getliberty.org/2023/05/durham-report-russiagate-wrongfully-predicated-no-real-remedy-offered/ May 15, 2023, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to Special Counsel John Durham's final report to Attorney General Merrick Garland: "The Durham Report outlines 316 pages of Obama administration Justice Department, intelligence agencies and State Department abuses during the Russia collusion hoax. The report vindicates President Trump, who was wrongfully targeted by an alphabet soup of agencies that resulted in nearly three years of unwarranted investigations. These included the flagrant abuse of the FISA court system, which allowed for electronic surveillance for almost a year of the Trump campaign, transition and administration predicated on nothing more than the wild lies of the Hillary Clinton campaign and the DNC. "It is disappointing that Durham failed to provide Congress with a reasonable remedy to these abuses other than former Justice Department General Counsel and former Twitter general counsel Jim Baker's recommendation 'for an official to challenge both a politically sensitive FISA application and other stages of the investigation' during and after FISA's ex parte proceedings. Trusting the Justice Department to not lie again is not a solution to the destruction of individual liberty that the FISA warrant abuses have revealed. Abusers of this system must be held legally accountable. Either all those involved were dupes, and future penalties for federal officials should range from losing your job and pension if you're too stupid to ask any questions about spying on presidential campaigns and/or significant prison time if you're found to have been actively attempting to change election results or take down an elected president under false pretenses with spying." Attachments: Special Counsel John Durham’s final report, May 12, 2023 at https://www.justice.gov/storage/durhamreport.pdf

House Speaker Kevin McCarthy is visiting President Joe Biden at the White House on Tuesday at 4PM ET. In this video, we discuss what you should know about this critical financial meeting.

House Speaker Kevin McCarthy is visiting President Joe Biden at the White House on Tuesday at 4PM ET. In this video, we discuss what you should know about this critical financial meeting.

Biden on debt ceiling and spending cuts: ‘No one’s ever tied them together before.’ Except in 2011 and 1996, Mr. President. https://dailytorch.com/2023/05/biden-on-debt-ceiling-and-spending-cuts-no-ones-ever-tied-them-together-before-except-in-2011-and-1996-mr-president/ President Joe Biden on MSNBC on May 6 claimed that Congress has never increased the debt ceiling in exchange for budget, spending and regulatory changes: “You just can’t. No one’s ever tied them together before.”. There’s only one problem. It’s completely false. Just in recent history, both the Budget Control Act of 2011 and the Contract With America Advancement Act of 1996 resolved disagreements between Congress and the president over raising the national debt ceiling. Both bills made changes to law to restrain the growth of spending or to pass other regulatory reforms. Particularly, the Budget Control Act of 2011 set discretionary budget limits into law, saving almost $1 trillion, increased the debt limit and even provided for the consideration of a balanced budget amendment. As for the 1996 Contract With America Advancement Act, that also increased the debt ceiling and included the Congressional Review Act, the Line Item Veto Act, the Senior Citizens' Right to Work Act and the Small Business Growth and Fairness Act of 1996. H.R. 2811, the Limit, Save, Grow Act of 2023 — which has already passed the House — would increase the national debt ceiling and cut $4.8 trillion in deficits through 2033. Historically, these situations have arisen from a Republican takeover of the House and/or Senate following a Democratic president’s first Congressional midterm election. Biden might prefer an alternative to this process but so far he hasn’t really articulated one.

U.S. Senator James Lankford (R-OK) joins Americans for Limited Government President Rick Manning live to discuss President Biden's refusal to get serious about the national debt crisis looming over America.

$100 billion run on deposits, rising interest rates put First Republic into FDIC receivership, JP Morgan takes over as another one bites the dust: https://dailytorch.com/2023/05/100-billion-run-on-deposits-rising-interest-rates-put-first-republic-into-fdic-receivership-jp-morgan-takes-over-as-another-one-bites-the-dust/ The Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation put the $229.1 billion California-based First Republic Bank into receivership today on May 1, while the FDIC also entered into a “purchase and assumption agreement” with JP Morgan-Chase Bank for the nation’s largest bank to assume First Republic’s assets as well as its $103.9 billion of deposits. Another one bites the dust. Once again, like Silicon Valley and Signature Banks, the bank was caught upside down on interest rates causing a run on uninsured bank deposits of more than $100 billion in March. So, far three major bank runs have occurred in the span of a little more than a month. This thing could just be clearing its throat even as worried investors hope the worst is past us. I guess we’ll see? Joe Biden is playing a game of chicken on default with no-strings increase of $31 trillion debt ceiling: https://dailytorch.com/2023/05/joe-biden-is-playing-a-game-of-chicken-on-default-with-no-strings-increase-of-31-trillion-debt-ceiling/ President Joe Biden is set to meet with House Speaker Kevin McCarthy (R-Calif.) and other Congressional leaders on May 9 to discuss the looming the $31.4 trillion debt ceiling. It’s about time. So far, Biden’s only plan has been for Congress to simply increase it into perpetuity or else threaten to default, never bothering to address the dismal fiscal outlook facing the nation, even as regional banks continue to fail because of the unsustainable burden caused by taking on U.S. treasuries — a problem that will only grow as the White House Office of Management and Budget (OMB) projects the national debt will rise to $50.7 trillion by 2033. In truth it could be much larger than that, since the debt has been growing at more than 8 percent a year on average since 1980. In fact, if it continues at its current clip, it will rise to more than $100 trillion by 2037. Either way, $50 trillion or $100 trillion, or most likely somewhere in between, who is going to buy all of those treasuries? Why, U.S. banks will, naturally, as foreign governments continue to reduce their overall share of U.S. treasuries and the Federal Reserve reaches its own limit of being able to print money to pay the debt after spiraling inflation.

In Tucker Carlson's iconic speech at the Heritage Foundation, he channels the spirit of President Ronald Reagan. Click Below To Join Our Mission to Save the Constitution and Protect Liberties: https://limitgov.salsalabs.org/RestoringLiberty/index.html

In Tucker Carlson's iconic speech at the Heritage Foundation, he channels the spirit of President Ronald Reagan. Click Below To Join Our Mission to Save the Constitution and Protect Liberties: https://limitgov.salsalabs.org/RestoringLiberty/index.html

As U.S. economy slows down, so do Biden’s reelection hopes as Kennedy rises to 19 percent in Democratic primary poll against incumbent president https://dailytorch.com/2023/04/as-u-s-economy-slows-down-so-do-bidens-reelection-hopes-as-kennedy-rises-to-19-percent-in-democratic-primary-poll-against-incumbent-president/ The U.S. Gross Domestic Product (GDP) grew at a less than expected 1.1 percent annualized in the first quarter of 2023, according to the latest data from the Bureau of Economic Analysis. The news comes as upstart rival in the Democratic primary, Robert Kennedy, Jr., keeps rising in the few polls willing to pit him against the incumbent president, garnering 19 percent to Biden’s 62 percent in the latest Fox News poll taken April 21 to April 24. Marianne Williamson showed in third place at 5 percent. That’s a 5-point improvement from a USA Today/Suffolk University poll taken April 15 to April 18, where Kennedy had 14 percent. Whereas, Biden lost five points, when just a week earlier he had 67 percent, while Williamson remained at 5 percent. Both of which are better than Kennedy’s first showing of 10 percent in a Morning Consult poll on April 7 through April 9. There Biden had 70 percent and Williamson at 4 percent. The fact is, incumbent presidents are really, really hard to defeat in their reelection bids, with about a 70 percent historic reelection rate. Only 11 presidents have ever been defeated in a general election, but the two predictors out there that portend badly for an incumbent president are recessions and competitive primaries, and with the GDP slowing down and Robert Kennedy, Jr. rising, looks like Biden might have both.

After spying on Trump, Congress should use FISA Section 702 reauthorization to end domestic political surveillance under Title I https://dailytorch.com/2023/04/after-spying-on-trump-congress-should-use-fisa-section-702-reauthorization-to-end-domestic-political-surveillance-under-title-i/ “We need to make changes to the FISA process. I think we should not even reauthorize FISA, which is going to come up in the next Congress.” That was House Judiciary Committee Chairman Jim Jordan (R-Ohio) — then the ranking member — in Oct. 2022, speaking with Fox Business’ Maria Bartiromo, outlining his opposition to reauthorization of section 702 of the Foreign Intelligence Surveillance Act (FISA), which expires on Dec. 31, 2023. Executive branch officials say is critical to protecting national security will expire. It is the only section of FISA that sunsets on a periodic basis, and thus, provides a periodic opportunity for members of Congress to address the decades-long problem of domestic political surveillance. Whenever the question of Section 702 has come up since 2008, attempts at intelligence reform are always deflected and rebuffed. “That’s the wrong section,” civil liberties groups are always told. And yet, once all the information from Chairman Jordan's committee has been gathered, besides must-pass pieces of legislation, whether it be Section 702 reauthorization, the annual national defense authorizations, the $31.4 trillion national debt ceiling or the annual omnibus spending bills and appropriations bills, what other leverage do members of Congress have to enact reforms?

Fox News has been touting its ESG, ‘diversity and inclusion’ goals since 2020 in annual ‘corporate social responsibility’ reports, and NewsCorp, too https://dailytorch.com/2023/04/fox-news-has-been-touting-its-esg-diversity-and-inclusion-goals-since-2020-in-annual-corporate-social-responsibility-reports-and-newscorp-too/ After Tucker Carlson’s firing by Fox News, do high ratings even matter anymore? That might be a good question one might ask from Fox News’ termination of Carlson, the station’s most highly rated host, who was easily winning cable news’ battle for the 8pm slot for years, with an average 3.25 million viewers a night for the past four months. For years, Carlson was critical of the Black Lives Matters and Antifa’s use of riots in 2020 following the killing of George Floyd while in police custody in Minneapolis, Minn., and of tyrannical Covid policies. But these also sparked organized boycotts against Carlson’s advertisers by social and political groups favoring Democrats. So it should surprise nobody that Fox Corporation, which owns Fox News, and NewsCorp (which used to own Fox) and owns the Wall Street Journal, have been touting the biggest boycott of all: Environmental, Social and Governance (ESG) goals in their corporate filings in order to attract woke investment dollars since at least 2020, a review of the companies’ corporate filings reveals. Fox’s explicit ESG reports appeared to follow the company’s removal in 2019 from Vanguard’s ESG fund. It wanted those woke capitalist dollars. Fox has been touting its “diversity and inclusion” corporate agenda that include legally questionable racial and gender hiring quotas in apparent violation of Title VII of the Civil Rights Act by the company as recently as its 2022 “corporate social responsibility” report.

After a record-breaking $787 million legal settlement with Dominion Voting Systems on Friday, Fox News has seemingly fired Tucker Carlson. The network announced his last show was Friday.

House Republicans’ proposal to Limit, Save, Grow will limit the size and scope of government and cut hundreds of billions of dollars of spending over the next decade as a true path back to fiscal sanity. https://limitgov.salsalabs.org/PassLimitSaveGrowAct/index.html

House Republicans’ proposal to Limit, Save, Grow will limit the size and scope of government and cut hundreds of billions of dollars of spending over the next decade as a true path back to fiscal sanity. https://limitgov.salsalabs.org/PassLimitSaveGrowAct/index.html

America First Legal files civil rights complaint against Anheuser-Busch’s racial and gender hiring quotas as violation of Title VII of the Civil Rights Act. https://dailytorch.com/2023/04/america-first-legal-files-civil-rights-complaint-against-anheuser-buschs-racial-and-gender-hiring-quotas-as-violation-of-title-vii-of-the-civil-rights-act/

Speaker McCarthy pushes for ‘debt limit negotiations’ with President Biden on $31.4 trillion debt as we stare into an abyss of ever larger banks. https://dailytorch.com/2023/04/speaker-mccarthy-pushes-for-debt-limit-negotiations-with-president-biden-on-31-4-trillion-debt-as-we-stare-into-an-abyss-of-ever-larger-banks/ House Speaker Kevin McCarthy has opened the door for negotiations on increasing the $31.4 trillion national debt ceiling in his New York Stock Exchange speech, stating, “Debt limit negotiations are an opportunity to examine our nation’s finances,” as House Republicans propose cutting a perfectly reasonable $72 billion. U.S. financial institutions, retirement funds, mutual funds with their share of treasuries have risen from about 17 percent in 2008, or $1.7 trillion, to a massive $11.9 trillion, or 38 percent today — the largest single holder of the debt. Going forward, with foreign investment dwindling and limits on how much the Federal Reserve can accumulate without inflation, almost all of the money we need to finance the national debt going forward will have to come from there with ever larger banks in the U.S., which will likely mean more regulation, more capital controls (i.e. digital currency), higher insurance premiums and fees, and much larger asset prices to keep the financial system solvent — and very likely less liberty. Maybe that’s the idea. We’re staring into an abyss.

Speaker McCarthy pushes for ‘debt limit negotiations’ with President Biden on $31.4 trillion debt as we stare into an abyss of ever larger banks. https://dailytorch.com/2023/04/speaker-mccarthy-pushes-for-debt-limit-negotiations-with-president-biden-on-31-4-trillion-debt-as-we-stare-into-an-abyss-of-ever-larger-banks/ House Speaker Kevin McCarthy has opened the door for negotiations on increasing the $31.4 trillion national debt ceiling in his New York Stock Exchange speech, stating, “Debt limit negotiations are an opportunity to examine our nation’s finances,” as House Republicans propose cutting a perfectly reasonable $72 billion. U.S. financial institutions, retirement funds, mutual funds with their share of treasuries have risen from about 17 percent in 2008, or $1.7 trillion, to a massive $11.9 trillion, or 38 percent today — the largest single holder of the debt. Going forward, with foreign investment dwindling and limits on how much the Federal Reserve can accumulate without inflation, almost all of the money we need to finance the national debt going forward will have to come from there with ever larger banks in the U.S., which will likely mean more regulation, more capital controls (i.e. digital currency), higher insurance premiums and fees, and much larger asset prices to keep the financial system solvent — and very likely less liberty. Maybe that’s the idea. We’re staring into an abyss.

New York District Attorney Alvin Bragg's criminal indictment of former President Donald Trump is the result of Trump Derangement Syndrome- or an irrational, non-objective view of Trump and his policies.

China has dumped $150 billion of U.S. treasuries since Jan. 2022. Is it a prelude to war? https://dailytorch.com/2023/04/china-has-dumped-150-billion-of-u-s-treasuries-since-jan-2022-is-it-a-prelude-to-war/ Since Jan. 2022, China has reduced its U.S. treasuries held outright, from $1.03 trillion to $859 billion in Jan. 2023, a 16.8 percent decrease, according to the latest data compiled by the U.S. Treasury of foreign holders of U.S. securities. This comes atop a further decrease from its peak in Nov. 2013 at more than $1.3 trillion, bringing the total decrease to 34.7 percent the past decade. When owners of treasuries are selling more than they are buying, interest rates can rise, and when they buy more than they are selling, interest rates will fall. But could China really impact that process all that much? The real question is that of firepower. In 2013, with its peak holdings of $1.3 trillion of U.S. treasuries, China was the single largest debt holder, owning 10.7 percent of the $12.2 trillion of publicly traded debt. That was China’s high water mark, whereas, today, the debt is much larger now. With $859 billion of treasuries, China owns just 3.5 percent of the $24.6 trillion of the publicly traded national debt. Is it a paper dragon?

The indictment and prosecution of former President Donald Trump only serves to make him a stronger candidate in the upcoming 2024 election.

The indictment and prosecution of former President Donald Trump only serves to make him a stronger candidate in the upcoming 2024 election.