A brave student at a California public school spoke out after being denied the opportunity to wear her MAGA hat, despite other students wearing Bernie Sanders attire and clothing featuring other Democrat politicians.

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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.

Senator Chuck Grassley takes to the Senate floor to discuss the whistleblower allegations made against President Joe Biden. He says this is the FBI and Department of Justice’s last opportunity to restore any credibility with the American people.

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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.

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.

Press Secretary Karine Jean-Pierre is being blasted for being dishonest about the administration’s prioritization of reopening of schools after the pandemic. She said the following. “This is why, when the president walked in, he made a priority to open schools, one of the things that was important to do to make sure that our kids, who have lost so much, were able to go back in-person school if they choose, have the resources that they needed to really succeed and move forward in their education.”

Jim Jordan confronts teachers union boss and asks her who is responsible for the culture war and if parents matter.

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The Kremlin has asserted that Ukraine is responsible for an assassination attempt on Putin’s life. What appears to be a consumer drone with explosives detonated close to the building. But was it real?

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$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.

Democrats in the U.S. House of Representatives just threatened a move that could affect the U.S. economy. Will their plan work?

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