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Informant tipped off investigators about more documents at Mar-a-Lago, Wall Street Journal reports



CNN

The FBI search of former President Donald Trump’s Mar-a-Lago residence on Monday was prompted by a tip to investigators about the possibility of additional classified documents at the Palm Beach club, according to a Wall Street Journal report.

CNN previously reported that investigators from the FBI and the DOJ met with Trump attorneys at Mar-a-Lago in June, seeking more information about classified material that had been taken to Florida after Trump departed the White House. Following that meeting, where investigators looked around the room where the documents were being stored, the Wall Street Journal reports that “someone familiar with the stored papers told investigators there may be still more classified documents at the private club” beyond what Trump turned over to the National Archives earlier this year.

CNN has not confirmed the WSJ report.

Monday’s search warrant execution pertained to both the handling of classified documents and the Presidential Records Act.

For months, investigators have been looking into how Trump handled material taken with him when he left the White House after the National Archives and Records Administration referred the case to the Justice Department earlier this year.

‘Never seen anything like this’: Violent posts increase online after FBI Mar-a-Lago search

The Monday search followed a belief from authorities that the former President or his team had not returned all the documents and other materials that were property of the government, according to a person familiar with the matter. There had been suspicion that Trump representatives were not being completely truthful with investigators, according to another person familiar with the matter.

The concern rose after the former President returned some 15 boxes of materials to the National Archives in January.

Before FBI agents arrived at Trump’s private club earlier this week and searched his residence, people around the former President had been under the impression that the probe into how he handled classified information had stalled, according to two sources familiar with the thinking.

It remains unclear why those around the former President believed the investigation had stalled, but in June, his attorneys received a letter from investigators asking them to preserve the remaining documents in his possession “until further notice,” one source told CNN.

The Mar-a-Lago search, which focused on the area of ​​the club where Trump’s offices and personal quarters are located, marked a major escalation of the classified documents investigation. Federal agents removed boxes of material from the Palm Beach property. The Secret Service had about an hour heads up before the FBI executed the warrant, a source familiar with the situation told CNN.

The Wall Street Journal’s report comes amid increased pressure for the Justice Department to provide a public statement about the unprecedented move to search for a former President’s home.

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Biden, WH claims US has ‘zero inflation’ despite high rate

President Biden tried to claim Wednesday that the US had “zero inflation” in July hours after federal Consumer Price Index data showed annual inflation dipping only slightly to 8.5%, which outraged Republicans and other critics who pointed out it’s still near a four-decade high .

The latest figures reflected a demand-driven decline in fuel prices — including gasoline, which hit a record national average of $5 per gallon in mid-June before sliding to a still-high $4 average today — that offset increases in the cost of food, rent and other goods and services.

“I just want to say a number: zero,” Biden said in the White House East Room before signing legislation granting greater medical and disability benefits to veterans suffering illnesses linked to inhaling toxic smoke.

“Today, we received news that our economy had 0% inflation in the month of July — 0%,” Biden said. “Here’s what that means: while the price of some things went up — went up last month, the price of other things went down by the same amount. The result? Zero inflation last month.

US PresidentJoe Biden
President Joe Biden insists the US is undergoing “zero inflation” in spite of federal data showing its more than eight percent.
REUTERS/Kevin Lamarques

“But people are still hurting,” the president went on, before repeating: “But 0% inflation last month.”

Biden then proceeded to accidentally step on his own message by urging Congress to pass the Senate-approved Inflation Reduction Act, which he said would keep inflation “from getting better,” a view advanced by Republicans, before correcting himself to say “from getting worse.” .”

Biden’s rosy spin on the latest inflation report was quickly called out as misleading by critics, especially after White House press secretary Karine Jean-Pierre tweeted: “We just received news that our economy had 0% inflation in July. While the price of some things went up, the price of others, like gas, clothing, and more, dropped.”

“The Biden Administration has a tortured relationship with math,” joked Rep. Virginia Foxx (R-NC) on Twitter.

The Labor Department's Consumer Price Index shows inflation remains at a four-decade high at 8.5 percent.
The Labor Department’s Consumer Price Index shows inflation remains at a four-decade high at 8.5 percent.
New York Post Illustration

“Ridiculous BS from the White House,” tweeted Sen. Ted Cruz (R-Texas). “There’s 8.5% inflation and basically everything anyone ever buys went up in price. This is just cruel gaslighting from the Biden admin.”

“Either the White House doesn’t understand what inflation is or they just don’t care,” said Rep. Kevin Hern (R-Okla.). “That doesn’t change the pain and hardship that Americans are enduring because of their failed policies.”

“It’s a bogus math trick. This is the overall one-month index change. Overall that means that the big drop in fuel oil and gas (following previous massive monthly increases) swamped the huge increases everywhere else,” tweeted Jeffrey Tucker, president of the Brownstone Institute think tank.

“Using the same tactic, you could also observe a one-month 19.2% increase in electricity! But of course we would not do that because that’s dumb,” Tucker added. “The actual increase is 15.2% which we get from calculating year over year.”

John Cooper, director of media and public relations at the conservative Heritage Foundation, tweeted, “Joe Biden claims, multiple times, that there was ‘zero inflation’ in July. Absolutely false. Year-over-year inflation was 8.5% in July.”

The Bureau of Labor statistics laid the data out in black and white — reporting the highest annual jump in food prices since the 1970s, with a 1.3% bump in at-home food costs from June to July and a 10.9% food-cost jump in the past year.

“The all items less food and energy index rose 5.9 percent over the last 12 months,” the official report said, referring to so-called “core inflation.” “The energy index increased 32.9 percent for the 12 months ending July, a smaller increase than the 41.6-percent increase for the period ending June. The food index increased 10.9 percent over the last year, the largest 12-month increase since the period ending May 1979.”

Consumers fill up at a Shell gas station July 13, 2022, in Miami Beach, Fla.
National gas prices still remain at $4 a gallon or more.
AP Photo/Marta Lavandier, File

Overall annual inflation was 9.1% in June, the highest rate since 1981. Critics blame Biden’s policies, including large spending bills, while the White House has blamed an array of other factors — including COVID-19, supply chain bottlenecks and the Russian invasion of Ukraine.

The Federal Reserve has a target of about 2% annual inflation and has been increasing interest rates this year in an attempt to tamp down price increases.

The pending Inflation Reduction Act, which the House is expected to pass as early as Friday, provides nearly $400 billion for environmental programs, including tax credits of up to $7,000 to buy electric vehicles, and roughly $64 billion to extend more generous COVID-19- it was Obamacare subsidies.

Senator Ted Cruz speaks
Sen. Ted Cruz accused the White House of “cruel gaslighting” on Americans.
Lev Radin/Pacific Press/Shutterstock

The new spending is offset by new taxes on corporations, including a new 15% corporate minimum tax, increased IRS enforcement and by allowing Medicare to directly negotiate drug prices.

Republicans argue new taxes may result in higher consumer costs and point to independent analysis that says the bill won’t reduce inflation.

“The Orwellian named ‘Inflation Reduction Act’ will do no such thing, as a number of prominent experts and economic policy groups have indicated,” Sen. Ron Johnson (R-Wis.) said after the bill passed the Senate. “The Penn Wharton Budget Model, the Tax Foundation, and the Congressional Budget Office all found the bill won’t lower inflation and may make it worse. The IRS would more than double in size, unleashing 87,000 new enforcement agents on American families… [and the] nonpartisan Joint Committee on Taxation says that 78% to 90% of the revenue raised from misreported income would likely come from those making under $200,000.”

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Trump team tried to flush documents, Haberman book claims

A spokesman for former President Donald Trump has denied that he tried to dispose of White House documents by flushing them down toilets after Axios published two images of paper allegedly bearing Trump’s handwriting at the bottom of commodes.

“You have to be pretty desperate to sell books if pictures of paper in a toilet bowl is part of your promotional plan,” Taylor Budowich told the site, which published the images after they were obtained by New York Times reporter Maggie Haberman ahead of the October publication of her book “Confidence Man.”

Budowich then added that “there’s enough people willing to fabricate stories like this in order to impress the media class — a media class who is willing to run with anything, as long as it anti-Trump.”

One photo, purportedly taken in the White House, shows a ripped note with the word “where” written on it at the bottom of a toilet.

The second photo, which was allegedly taken while Trump was on an overseas trip, featured a torn piece of paper bearing the names “Rogers” and “Stefanik” – presumably referring to upstate Rep. Elise Stefanik (R-NY) – in the toilet .

Haberman, who initially reported that Trump liked flushing his notes in February of this year, stood by her reporting during an appearance on CNN Monday.

Toilet with paper at bottom.
The paper allegedly bears former President Donald Trump’s handwriting.
Maggie Haberman via Axios

“People are going to make all kinds of jokes about toilets and so forth,” she said. “It would still be a story if it was a fireplace. And the point is about the destruction of records which are supposed to be preserved under the Presidential Records Act, which is a Watergate-era creation.”

“We knew that Trump had a habit of ripping up paper and that people had to tape it back together,” Haberman added. ” … And so what was happening was White House residence staff were finding pipes were clogged with paper that they believed he had flushed … I’d had additional reporting afterwards from people confirming that Trump had indeed done this and that it happened on at least two foreign trips and in the White House throughout his presidency.”

“Again, it’s important because who knows what this paper was. Only he would know and presumably whoever was dealing with it. But the important point is about the records.”

Toilet with paper at bottom.
Since leaving office, several reports have depicted former President Donald Trump as a notorious destroyer of records.
Maggie Haberman via Axios

The former president swiftly blasted the accusation back in February, calling it “another fake story,” “categorically untrue,” and “simply made up” by Haberman to distract Americans from “how horribly our Country is doing under the Biden Administration.”

Since leaving office, several reports have depicted Trump as a notorious destroyer of records – sensitive or not.

Confidence Man: The Making of Donald Trump and the Breaking of America.
The images were obtained by New York Times reporter Maggie Haberman ahead of the October publication of her book “Confidence Man.”
Amazon/Penguin Press

CNN reported Monday that Trump would instruct aides to carry boxes of unread memoirs, articles, and potential tweets aboard Air Force One, which he would then review and tear up.

One former senior administration official told the outlet that a deputy from the Office of Staff Secretary would pull things out of Trump’s trash or remove items from his desk after the president left the room to comply with federal recordkeeping laws.

Trump has also been accused of keeping boxes of White House documents — some of which contained classified material — at his Mar-a-Lago resort in Florida.

The National Archives retrieved the boxes in January.

That caught the attention of the House Oversight Committee, which quickly launched an investigation into what it called “Potential Serious Violations” of the Presidential Records Act of 1978.

Federal investigators have also reportedly issued a subpoena for the documents as part of their own investigation into the matter.

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New Yorker: Milley was set to excoriate Trump in unreleased resignation letter drafted after Lafayette Square photo-op



CNN

In the wake of then-President Donald Trump’s infamous photo-op at the height of the George Floyd protests, Chairman of the Joint Chiefs of Staff Gen. Mark Milley penned a lengthy and vociferous critique of Trump in a resignation letter he ultimately never sent, The New Yorker reported on Monday.

On June 1, 2020, Milley accompanied Trump on a walk from the White House to St. John’s Church, where he was photographed wearing his combat uniform and moving with the President’s entourage through Lafayette Square. Protesters had been forcibly cleared out of the area minutes before.

The images provoked a swift wave of criticism from lawmakers and several senior former military officials who said they risked dragging the traditionally apolitical military into a contentious domestic political situation.

Milley’s letter was dated June 8, a week after the incident, according to The New Yorker. The article was based on “The Divider: Trump in the White House 2017-2021,” a forthcoming book by Peter Baker and Susan Glasser.

“The events of the last couple weeks have caused me to do deep soul-searching, and I can no longer faithfully support and execute your orders as Chairman of the Joint Chiefs of Staff,” Milley wrote, according to The New Yorker. “It is my belief that you were doing great and irreparable harm to my country. I believe that you have made a concerted effort over time to politicize the United States military.”

In this June 1, 2020 file photo, President Donald Trump departs the White House to visit outside St. John's Church, in Washington.  Walking behind Trump from left are, Attorney General William Barr, Secretary of Defense Mark Esper and Gen. Mark Milley, chairman of the Joint Chiefs of Staff.

The report said Milley sought advice regarding the resignation letter, including from former Chairman of the Joint Chiefs Gen. Joseph Dunford, retired Army Gen. James Dubik, an expert on military ethics, as well as members of Congress and former officials from the Bush and Obama administrations.

Milley ultimately decided not to quit.

“F*** that s***,” Milley told his staff, according to The New Yorker. “I’ll just fight him.”

“If they want to court-martial me, or put me in prison, have at it,” Milley added. “But I will fight from the inside.”

A spokesman for the Chairman of the Joint Chiefs declined to comment to CNN about the report.

Milley would later publicly apologize for his involvement in the incident in a pre-recorded speech at the National Defense University.

“I should not have been there. My presence in that moment and in that environment created a perception of the military involved in domestic politics. As a commissioned uniformed officer, it was a mistake that I have learned from, and I sincerely hope we all can learn from it,” Milley said during the address.

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How Dr. Martens boots may have saved White House lightning strike survivor

The lone survivor of the lightning strike that killed three people outside the White House was saved by quick-thinking Secret Service agents — and her Dr. Martens boots, according to her mom.

Californian student Amber Escudero-Kontostathis was struck last Thursday while raising money in Washington, DC, for refugees — even though it was her 28th birthday.

While three others were killed in the strike — including a fellow young Californian — Escudero-Kontostathis was revived by agents who raced to the scene with a defibrillator, her mom, Julie Escudero, told the Ventura County Star.

“The Secret Service men saved her,” Escudero said. “I’ve been trying to find out their names so I can personally thank them. They revived her.”

Lightning strike survivor Amber Escudero-Kontostathis.
Amber Escudero-Kontostathis was the lone survivor of four hit by lightning outside the White House last Thursday — her 28th birthday.
LinkedIn

In a series of emotional Facebook updates, Escudero detailed how doctors believe the lightning that struck her daughter “went through her toes and out her left arm.”

That likely meant her daughter was saved by the thick rubber “Airwair” soles on Dr. Martens’ boots absorbing some of the impact, her mom speculated.

Escudero-Kontostathis — who was with her husband, Achilles, in DC — has already left intensive care and taken her first steps unaided, said her mom, who flew from California to be by her daughter’s side.

“The trauma doctor came up [Friday] and said she’s an ‘absolute miracle,’” her mom told the local outlet.

Lightning hits at foot of White House, killing three and injuring "miracle" survivor Amber Escudero-Kontostathis.
Amber Escudero-Kontostathis was the lone survivor of four hit by lightning that was caught on camera striking at the foot of the White House last Thursday
REUTERS

In her Facebook posts, Escudero also detailed how her daughter “is literally blowing all the doctors away with the progress her body is making.”

Still, she is suffering “unbearable” pain from a large burn on her stomach that makes it feel like it’s “on fire” — and is suffering crushing “survivor’s guilt” after learning the three others hit all died, her mom said.

Escudero-Kontostathis had a Monday meeting scheduled with a trauma counselor.

And she has also “made the connection to the other 3 wonderful people who passed,” her mom said, referring to bank VP Brooks Lambertson, 29, as well as James Mueller, 76, and Donna Mueller, 75, childhood sweethearts from Wisconsin celebrating their 56th wedding anniversary.

Donna Mueller, 75, and James Mueller, 76.
The three killed included James Mueller, 76, and Donna Mueller, 75, childhood sweethearts from Wisconsin celebrating their 56th wedding anniversary
Facebook/WISN 12 NEWS

“She wants to reach out to their families,” her mom said Monday. “She cares so much for others, it will be hard for her.”

Escudero-Kontostathis is also anxious about missing the start of her masters-degree course at John Hopkins at the end of this month.

Escudero said she was “beyond grateful and humbled” that friends had started a GoFundMe that as of Monday afternoon had raised more than $40,000 to help with medical costs.

“I literally fell to my knees when I saw the GoFundMe page. I truly have no words!” she said.

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LA bank exec ID’ed as third killed by lightning strike near White House

A young California bank executive has been identified as the third person killed in a freak caught-on-camera lightning strike near the White House last week.

Brooks Lambertson, a 29-year-old Los Angeles-based vice president at City National Bank, was identified by DC police as the third fatality from Thursday night’s strike that also left a fourth person in critical condition.

He was killed alongside James Mueller, 76, and Donna Mueller, 75, childhood sweethearts from Wisconsin who were in the capital celebrating their 56th wedding anniversary.

All four had been in Lafayette Park — yards from the White House fence — when cameras caught a huge bolt striking a tree they were near.

City National Bank said Sunday that it was “devastated to learn of the sudden death of one of our colleagues.”

“Brooks was an incredible young man who will be remembered for his generosity, kindness and unwavering positivity,” the bank said.

“Our thoughts and condolences are with his loving family, his many friends and our colleagues. His joyful spirit will live on in our hearts, ”the bank said.

Brooks Lambertson, a 29-year-old bank executive from Los Angeles, was identified as the third person killing in a lightning strike near the White House last week.
Brooks Lambertson, a 29-year-old bank executive from Los Angeles, was identified as the third person killing in a lightning strike near the White House last week.
Facebook/KCRA
The lightning strike at Lafayette Park killed three people and left one other injured.
The lightning strike at Lafayette Park killed three people and left one other injured.
REUTERS

The news sparked tributes for Lambertson, who previously worked as a marketing manager for the LA Clippers and was in DC for business when he was struck.

“He was a joy to work with and a wonderful colleague!” one shocked staffer said, while another wrote about how they “loved working with him.”

Brooks always lit up the room with his million-dollar smile,” that colleague wrote, while another praised his “generosity” and “kindness and unwavering” positive energy.

The fourth person, an unidentified woman, was listed in critical condition on Friday, the police department said. There was no immediate update early Sunday.

Lambertson was in DC on a business trip.
Lambertson was in DC on a business trip.
@dcfireems via AP
Wisconsin couple James Mueller, 76, and Donna Mueller, 75, were also killed in the lightning strike.
Wisconsin couple James Mueller, 76, and Donna Mueller, 75, were also killed in the lightning strike.
Facebook/WISN 12 NEWS

Secret Service officers had been among the first to respond to the tragedy and offer first aid, officials announced last week.

White House press secretary Karine Jean-Pierre said the administration was “saddened by the tragic loss of life.”

“This is the people’s house. It should be a place all can see,” she said.

With Post wires

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Lightning strike near White House leaves 3 dead, 1 injured

A husband and wife from Wisconsin celebrating more than five decades of marriage were killed in a lightning strike outside the White House. A third victim was pronounced dead Friday evening, and one other is hospitalized with life-threatening injuries.

James Mueller, 76, and Donna Mueller, 75, of Janesville, Wisconsin, died of their injuries after the lightning strike Thursday in Lafayette Park, located directly outside the White House complex, the Metropolitan Police Department said Friday.

A third victim, a 29-year-old adult male, was pronounced dead Friday. The fourth person, a woman, was in critical condition, the police department said. Their identities were not immediately released.

Authorities did not reveal how the people were injured, other than to say they were critically hurt in the lightning strike.

The Muellers were on a trip to Washington, DC, to celebrate their 56th wedding anniversary, according to their niece, Michelle McNett of Janesville.

A lightning strike hits a tree in Lafayette Park across from the White House, killing three people and injuring one person on August 4, 2022 in Washington.
A lightning strike hits a tree in Lafayette Park across from the White House, killing three people and injuring one person on August 4, 2022 in Washington.
REUTERS

“They were a very loving couple,” McNett told the Wisconsin State Journal. “They were very, very family oriented. I think everyone’s just in shock right now and kind of request privacy.”

The couple had five children, 10 grandchildren and four great-grandchildren, she told the paper.

Donna Mueller was a teacher and in retirement worked at the Comfort Shoppe, a local furniture store. Jim, 76, was a retired contractor who had his own drywall business.

McNett said she’s not sure why the couple picked the nation’s capital for their vacation, but added that “Donna was a constant learner.”

A Secret Service officer patrols Lafayette Park near the White House in Washington, DC after a lightning strike killed three people on August 4, 2022.
A Secret Service officer patrols Lafayette Park near the White House in Washington, DC after a lightning strike killed three people on August 4, 2022.
Bryan Olin Dozier/NurPhoto/Shutt

The husband and wife, according to their childhood, loved having gatherings and just had a big family gathering a couple of weeks ago.

“They were very religious,” she said. “Just the kind of people who would give the shirt off their back to do anything for you, both of them.”

Officers with the Secret Service and the US Park Police witnessed the lightning strike Thursday night and ran over to render first aid, officials said. Emergency medical crews were called to the scene just before 7 pm and had transported all of the victims to the hospital with “critical, life-threatening injuries,” fire department spokesman Vito Maggiolo said.

“We are saddened by the tragic loss of life after the lightning strike in Lafayette Park,” White House press secretary Karine Jean-Pierre said. “Our hearts are with the families who lost loved ones, and we are praying for those still fighting for their lives.”

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Alyssa Farah Griffin, Ana Navarro named permanent co-hosts on ‘The View’


New York
CNN Business

Alyssa Farah Griffin and Ana Navarro, two conservatives who have been extraordinarily critical of former President Donald Trump, were officially announced on Thursday as a permanent co-hosts of “The View.”

Co-host Whoopi Goldberg made the announcements during two live segments on the ABC daytime talk show.

Griffin said she was “honored” to become a co-host and Navarro described it as an “enormous, incomparable privilege.”

The appointment of Griffin and Navarro to permanent seats on the show is not entirely surprising. Both have regularly co-hosted the show and several news organizations reported recently that Griffin would soon be announced as an official co-host.

Ana Navarro (L) and Alyssa Farah Griffin

Griffin resigned in December 2020 from the Trump administration, in which she’d held several positions, including White House communications director. Griffin has since leveled searing criticism at her former boss and colleagues who have covered for him.

Navarro, a longtime Republican strategist and commentator who has been a contributor on “The View” since 2019, has for years spoken in no-holds-barred terms against Trump and his allies.

Both Griffin and Navarro are CNN political commentators. A CNN spokesperson said they will both continue in their role with the cable news network while also hosting “The View.”

“The View” has been in search of a conservative co-host since Meghan McCain left the program last summer.

“We promised to take a little time to fill the seat and we have found the right match and a welcome addition to the show with Alyssa,” executive producer Brian Teta said in a statement. “She is willing to share her unique political experience and brings a strong conservative perspective while holding her own de ella in tough debates with her co-hosts and guests on both sides of the aisle.”

“Ana has made an indelible impact on ‘The View’ since the first time she joined us at the table,” Teta added. “She is a strong independent thinker with savvy insight, not to mention that she is whip-smart and fiercely funny. We are very happy to officially welcome her as a co-host.”

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White House admits Inflation Reduction Act will barely impact inflation

The $739 billion Democratic spending plan dubbed the Inflation Reduction Act will barely affect prices over the next decade, experts say — and even the White House admitted it Monday.

According to Moody’s Analytics chief economist Mark Zandi, the 725-page bill hammered out by Sens. Chuck Schumer (D-NY) and Joe Manchin (D-WV) would only lower the Consumer Price Index – a closely watched gauge that measures what consumers paid for goods and services –0.33% by 2031.

“Through the middle of this decade the impact of the legislation on inflation is marginal, but it becomes more meaningful later in the decade,” Zandi wrote.

Jesse Lee, a senior communications adviser to the National Economic Council, was quick to tout Zandi’s findingstweeting, “This is actually the overwhelming consensus.”

“White House officials’ own rosiest, best-case-scenario spin is that their ‘Inflation Reduction Act’ will have taken one third of one percentage point off inflation by nine years from now?” Andrew Quinn, a speechwriter for Senate Minority Leader Mitch McConnell (R-Ky.), asked incredulously.

“White House comms spiking the ball over a bill that doesn’t reduce inflation until 9 years from now,” mocked Heritage Foundation spokesman Jon Cooper. “And keep in mind, this is obviously the best number they could come up with.”

The White House admitted the Inflation Reduction Act from Sens. Joe Manchin and Chuck Schumer won't impact prices much over the next decade.
The White House admitted the Inflation Reduction Act from Sens. Joe Manchin and Chuck Schumer won’t impact prices much over the next decade.
Photo by Anna Moneymaker/Getty Images

Schumer and Manchin have claimed the bill would reduce inflation by lowering prescription drug and energy costs while reducing the federal budget deficit through a 15% minimum tax on corporations that report income of at least $1 billion per year, and increased tax enforcement by the IRS, and increased tax enforcement by the IRS. taking a share of profits earned by general partners at private equity, hedge funds, and venture capital firms known as carried interest.

However, experts say the inflation cure prescribed by the Democrats is likely to be ineffective, and could be worse than the disease.

Alex Muresianu, a federal policy analyst with the Tax Foundation, told The Post on Monday that the corporate tax – also called the “book minimum tax” — would “reduce supply in the long-run by reducing incentives to invest, particularly for manufacturing firms .”

“Meanwhile, on the demand-side, by taking money out of the economy, tax increases in excess of the spending attached could reduce inflation incrementally, but there are a couple problems,” he added. “First, in the first couple years, the bill does not net reduce the deficit — most of the net reduction in the deficit over the ten-year window comes in later years.

Schumer and Manchin claimed the bill would lower prescription drug and energy costs.
Schumer and Manchin claimed the bill would lower prescription drug and energy costs.
Photo by Drew Angerer/Getty Images

“And second, the tax increases like the book minimum tax are not focused on taxpayers with high marginal propensity to consume, meaning the tax increase does not come with a particularly large reduction in aggregate demand.

“So, on the whole,” Muresianu concluded, “we should expect the bill to have a negligible impact on inflation. The Federal Reserve’s choices will play a much bigger role in whether or not inflation subsides than whether or not this bill passes.”

Levon Galstyan, a Certified Public Accountant with Jersey City-based Oak View Law Group, agreed, noting: The Inflation Reduction Act will shift resources through hundreds of billions of dollars in special-interest subsidies targeted to Democratic constituencies, further limiting supply through restrictions and tax increases.

“A deterrent to output would be that manufacturers would pay around half of all new levies,” Galstyan also told The Post. “The legislation would subject small businesses to a horde of tax enforcers, driving up prices and limiting their capacity to serve customers.”

According to Moody's Analytics chief economist Mark Zandi, the bill would only lower the Consumer Price Index by 0.33% by 2031.
According to Moody’s Analytics chief economist Mark Zandi, the bill would only lower the Consumer Price Index by 0.33% by 2031.
AP Photo/Alex Brandon

Peter Morici, an economist and professor emeritus at the RH Smith School of Business at the University of Maryland, also argued that there was almost no chance the legislation would reduce prices.

“One of the Fed bank presidents [Neel Kashkari of Minneapolis] came out [Sunday] morning … saying we’re going to get inflation down at 2%. If you believe that, then I want you to go to Yankee Stadium on Sunday afternoon and look for me playing shortstop,” Morici told The Post.

“I’m 73 years old. I was a pretty damn good middle infielder, but I didn’t have much of a career because I never could hit the breaking ball,” he added. “I mean, that’s as credible as I’m gonna play shortstop for the New York Yankees.”

Other experts have pointed out that the legislation fails to provide a long-term solution for bringing down inflation.

“Inflation results from deep-set, fundamental issues and this bill does nothing to address those factors,” said James Lucier, managing director at Washington-based policy research firm Capital Alpha.

Biden administration official Jesse Lee, a senior communications adviser to the National Economic Council, agreed with Zandi's findings.
Biden administration official Jesse Lee, a senior communications adviser to the National Economic Council, agreed with Zandi’s findings.
AP Photo/Susan Walsh

“Inflation will probably fix itself over a ten year period, if we’re lucky,” Lucier told The Post, labeling the supposed “anti-inflationary effects” of the legislation as “smoke and mirrors.”

Rather than bringing down prices, some of the economists suggested that federal tax credits for Americans to buy electric vehicles and the extension of ObamaCare subsidies would exacerbate the problem.

“They’re giving people money to buy electric vehicles. They’re in short supply. The lithium that goes into them is in short supply. That’s gonna raise the price of electric vehicles,” said Morici, who added that “additional subsidies to buy health insurance is not going to lower the cost of health insurance, it’s going to increase the price.”

“Many of the incentives that are in the bill tend to increase the price of components for products that go into the electrical grid and so forth,” Morici continued. “So it’s basically giving people money to chase products that are in short supply.”

Will McBride, VP of federal tax and economic policy at the Tax Foundation, echoed that concern, saying the ObamaCare subsidies would make “entitlement spending” worse.

“Essentially,” McBride said, “the value of the dollar is getting diminished as the federal government’s ability to repay its debt diminishes.”

Additional reporting by Lydia Moynihan and Ariel Zilber.

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Republican nominee for Maryland attorney general hosted 9/11 conspiracy radio shows



CNN

The Republican Party’s nominee for Maryland attorney general hosted a series of five radio shows in 2006 devoted to arguing in support of 9/11 conspiracy theories questioning if the terror attack was the work of an “elite bureaucrat” who had demolition charges in every building in New York City and even suggesting if those who died after a hijacked plane hit the Pentagon were killed elsewhere.

Michael Peroutka, a candidate best known for his ties to neo-Confederate organizations, made the remarks on The American View, a radio show he co-hosted, in October 2006 while discussing the fifth anniversary of the September 11, 2001, terrorist attack.

“What happened on 9-1-1, I told you that I had been doing some research and watching some videos,” Peroutka said during one of the episodes reviewed by CNN’s KFile. “And I said that if the buildings in New York City, the World Trade Center buildings, came down by demolition charges – that is to say – if there was this evidence that there was that something was preset there, then the implications of that are massive,” said Peroutka.

“I’ve been doing some reading and doing some studying, and I believe that to be very, very true,” he added, before further suggesting the work was done by controlled explosives.

“The other thing that just is so striking to me, I can’t get it out of my brain, and that is the vision of Building 7 falling faster than the speed of gravity, right? Building 7, which no plane hit,” said Peroutka. “And all of a sudden Building 7 falls, very consistent with what they call controlled demolitions or controlled charges because that building from the top down falls faster than if you had thrown a hammer off the top of the building.”

Peroutka’s comments echo the widely debunked conspiracy theory that the Twin Towers and 7 World Trade Center, the smaller building within the vicinity of the towers, were wired with explosives and detonated in a series of controlled demolitions.

The Twin Towers collapsed after terrorist-hijacked plans intentionally crashed into the North Tower and then the South Tower, killing 2,753 people. Nearby “Building 7” suffered intense and uncontrollable fires after debris from the North Tower hit the building, causing a chain reaction that led to the building’s collapse, according to a study published in 2008 by the National Institute of Standards and Technology.

Peroutka went even further with his conspiratorial logic, speculating that every building in New York City could have preset charges awaiting detonation by some “elite bureaucrat.”

“That begs the question that if there are preset charges in Building Seven, what’s to stop there for being preset charges in Buildings 1, 2, 8, 9, and 27?” said Peroutka. “Are there charges in every building in New York City? Is everyone ready to be brought down whenever some elite bureaucrat decides that he’s gonna pull it?”

Peroutka also called the 9/11 terrorist attacks an “inside job,” saying “you can’t have an explosion in the basement that’s done by the hijacker on the airplane” and claimed that the official account of the 9/11 attack was the actual “conspiracy theory.”

The campaign did not address Peroutka’s previous conspiracy theories when asked for comment, but Macky Stafford, Petroutka’s campaign coordinator, told CNN in a statement that the “primary election results demonstrate that Maryland Republicans are dissatisfied with their current leadership.”

But outgoing Maryland GOP Gov. Larry Hogan called out Peroutka on Sunday, saying, “These disgusting lies don’t belong in our party.”

“We know who was responsible for 9/11. Blaming our country for Al-Qaeda’s atrocities is an insult to the memory of the thousands of innocent Americans and brave first responders who died that day,” Hogan tweeted.

Peroutka previously ran for president in 2004 as the nominee of the Constitution Party. During that campaign, Peroutka posted on his website an endorsement from the League of the South – a new-Confederate organization that advocates southern secession. He’s homepage for his campaign prominently featured a Confederate flag linking to “Southerners for Peroutka” whose homepage had a large Confederate flag displayed over the Capitol saying, “We have a dream.” He also promoted his candidacy to the Council of Conservative Citizens, according to copies of their newsletter obtained by CNN. The CCC is a self-described White-rights group that opposes non-White immigration and advances White nationalist ideology.

Peroutka will face Democratic Rep. Anthony Brown in the general election this November. If elected, Brown would be the first Black attorney general in the state. Maryland has not had a Republican attorney general since 1952, when one was appointed; the last Republican attorney general elected in the state was in 1919.

In other episodes of Peroutka’s radio show reviewed by CNN’s KFile, Peroutka also cast doubt that the Pentagon was hit by American Airlines Flight 77, asking where the video is showing this “incoming attack, plane or missile,” later saying that it is “very plausible that a missile that looked like a plane hit the Pentagon.”

Peroutka even questioned whether remains of the deceased were found at the Pentagon, suggesting they were killed elsewhere. He said he had seen “no evidence” of any bodies or luggage to his late co-host and former presidential campaign adviser, John Lofton.

Lofton said, “Ah, but see the missile thing. Then you gotta count for the remains and the body parts and show how all those people got inside the missile. How all those passengers–”

“I saw the pictures. There was, there was nothing that looked like a body or luggage or anything in there,” Peroutka interrupted. “And the pictures that I saw – if there are pictures, John – that show body parts or luggage or even a seat of an airplane that’s consistent with Flight 77, that particular airplane. If there’s anything that’s consistent with that, I haven’t seen a picture of it.”

Shortly after, Lofton said, “If I can produce for you a person who was a friend or loved one of one of the passengers that perished on that plane that hit the Pentagon, that says, ‘Yes, we got remains back from our loved one or friend.’ Will that impress you?”

“No, absolutely not,” replied Peroutka. “Where did the remains come from? I’m not disputing that the people died.”

“Unless a plane hit the Pentagon, how would the remains of anybody on that flight get into the Pentagon?” asked Lofton.

“I didn’t say they got into the Pentagon. I couldn’t see them in the Pentagon. There wasn’t any – I’ve never seen any evidence that anything like a body or a passenger or passenger’s luggage or anything that’s consistent with the Flight 77 is in the Pentagon. If there are such pictures, I’d like to see them. Now, you could clearly understand that somebody whose loved one was lost on that plane, very possibly, could have gotten some piece of forensic evidence that indicated that their loved one was in fact deceased. But who says that came from the Pentagon?”

Peroutka then said this was the first time he had heard that the remains of the deceased were found at the Pentagon.

American Airlines Flight 77 was hijacked by five terrorists on September 11, 2001, and deliberately crashed into the Pentagon, killing all 64 people on board and another 125 people in the building.

This story has been updated with additional reaction.

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