Welcome! Consumer debt just hit a record high.
OUCH: More people watch Newsmax than CNN.
NEW: Joe Biden and Eric Adams are big mad at each other.
HEADLINE: 4 N.H. Republicans who endorsed Trump 19 days ago are now backing Ron DeSantis - NBC
DATA: A rising number of Americans are switching religions.
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Durham Report
After nearly four years, the Durham report was released yesterday and concluded the FBI’s investigation into Russian collusion with Donald Trump was purely motivated by politics. The 306-page report stated, “Senior FBI personnel displayed a serious lack of analytical rigor towards the information that they received, especially information received from politically-affiliated persons and entities."
The report went on to claim that the FBI was investigating leads “provided or funded (directly or indirectly) by Trump's political opponents." Ouch.
Why this matters: To this day, the majority of Democrats believe that Donald Trump colluded with the Russians to defeat Hillary Clinton. We know not only was that inaccurate, but it was a talking point created and funded by the Clinton team.
What happens next: The FBI says they have “implemented dozens of corrective actions, which have now been in place for some time.” As of this writing, this story is scantly covered by most major media outlets.
National Review has the best line: This was one of the dirtiest political tricks in American history. The damage it has done to American trust in the FBI and our intelligence agencies is incalculable. - NR
Read my full morning piece here and watch Mike Lee’s response here.
Busting Dams For Salmon?
Joe Biden is open to spending billions of dollars to breach four dams in Washington to help save a local salmon population. The dams along the Snake River were created in the 60s and 70s to ensure barges could navigate the river but have morphed into highly needed sources of energy that serve millions of Washington residents. The problem with the Democrat-led proposal is multifold:
Problem 1: The power produced by hydroelectric dams would likely be replaced with some form of fossil fuel alternative. It’s hard to imagine an administration this committed to clean energy willing to do this.
Problem 2: A comprehensive study done by the Army Corps of Engineers, NOAA Fisheries, and others concluded the dams needed to remain in place and the salmon populations would recover.
Problem 3: Breaching the dams would have a cascading effect on the Washington economy by hindering transportation and devastating agriculture exports.
The environmental director for the Washington Policy Center summed it up best: “I think you're getting a sense of how this is really more about ideology and a romance of open, undammed rivers than it is about environmental benefits.”
Relatedly, Joe Biden’s proposal to force energy companies to cut emissions by 90% was deemed unrealistic by an industry group. The group claimed Biden is risking an energy crisis that could be marked by rolling blackouts as power plants are forced to shut down.
Politico notes that power outages hit an all-time high in 2020 as Americans are consuming 12% more electricity primarily thanks to electric vehicles.
Speaking of electric vehicles, The New York Times (paywall) wonders if the world can make EVs without China. Here’s the paragraph that matters:
Despite billions in Western investment, China is so far ahead — mining rare minerals, training engineers and building huge factories — that the rest of the world may take decades to catch up.
In a related story to bad energy policy, Bloomberg is celebrating that the country of South Africa met its climate goals years ahead of schedule. What they fail to make clear is the only reason emissions are falling is because South Africa’s coal-fired power plants are breaking down and their climate commitments preclude the country from fixing the plants. In short, people are likely dying in South Africa from a lack of power and Bloomberg thinks it’s a good thing.
Hunter Biden
The IRS on Monday removed the “entire investigative team” from its long-running tax fraud probe of first son Hunter Biden in alleged retaliation against the whistleblower who recently contacted Congress to allege a cover-up in the case, The Post has learned.
The purge allegedly was done on the orders of the Justice Department, the whistleblower’s attorneys informed congressional leaders in a letter.
Read the full story at The New York Post:
Mike Pence
Mike Pence appears to be running for President. A pro-Pence Super PAC launched yesterday led by former congressman Jeb Hensarling and veteran political strategist Scott Reed. The PAC will focus on helping the former VP in early nominating states.
Trump vs DeSantis: Kentucky
The latest proxy battle between Donald Trump and Ron DeSantis is taking place in Kentucky. Voters head to the polls today to pick the Republican nominee to face Andy Beshear in November. In a surprise move on Monday, Ron DeSantis backed the former U.N. Ambassador Kelly Craft who is facing the Trump-backed Kentucky Attorney General Daniel Cameron in a crowded primary.
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🔥 Trending news:
A crucial climate technology provokes fears in oil country - Politico
Democrats float scheme to protect McCarthy from debt ceiling revolt - Axios
Two rare, unknown Rembrandt portraits worth millions discovered in private collection - CNN
Home Depot just forecast weak consumer demand — here’s what that could mean for the rest of the economy - CNBC
Argentina raises interest rate to 97% as it struggles to tackle inflation - CNN
Woman sues Rudy Giuliani, saying he coerced her into sex, owes her $2 million in unpaid wages - AP
House GOP pushes Senate to cancel recess over debt ceiling - Axios
CIA urges Russians to share secrets with America in new video campaign - NBC
There Seems To Be No Evidence That Stetson Bennett Graduated From The University Of Georgia - Barstool
Did Aaron Judge cheat in last night’s Yankees game? - NY Post
📉 Market snapshot:
As a resident of the People's Republic of Washington State I can say that tearing down the Snake River dams would be totally and completely insane. Typical of the wacky environmental extremists who want to force us at gunpoint (looks like the gov't will be the only ones with guns) to go back to the stone age.
"The FBI says they have “implemented dozens of corrective actions, which have now been in place for some time.”
IOW, "It never happened. And anyway, we fixed it"