De Facto Veto
I am pleased to report Manchin Crushes Biden’s Hopes for Revival of Economic Agenda
Manchin told Majority Leader Chuck Schumer he’s only willing to support legislation to lower prescription drug prices and extend enhanced Affordable Care Act subsidies, the people said. That leaves Democrats in a position of accepting a much smaller package shorn of nearly all of their long-term ambitions from a year ago, or getting nothing.
His decision is a de facto veto of Biden’s hopes to revive the economic plan that fizzled last year, angering Democratic progressives who had been counting on sweeping policy wins. Manchin’s vote is pivotal in the evenly divided Senate, where Democrats need a united caucus to pass the economic package by simple majority under special budget reconciliation rules.
Just days ago, Manchin and Schumer were negotiating over hundreds of billions in spending on measures designed to fight climate change, including tax breaks for renewable energy, electric vehicles and other clean power sources. The loss of those plans will be a bitter pill for many Democrats on Capitol Hill and at the White House. Solar stocks fell in early US trading.
“I’m not going to sugarcoat my disappointment here,” Senate Finance Chairman Ron Wyden of Oregon, who previously talked with Manchin about a package of clean energy incentives, said in a statement. “This is our last chance to prevent the most catastrophic — and costly — effects of climate change.”
“Political headlines are of no value to the millions of Americans struggling to afford groceries and gas as inflation soars to 9.1%,” said Manchin spokeswoman Sam Runyon. “Senator Manchin believes it’s time for leaders to put political agendas aside, reevaluate and adjust to the economic realities the country faces to avoid taking steps that add fuel to the inflation fire.”
Green New Deal Advocates Incensed
Solar Stocks Take a Hit
Sen. Sheldon Whitehouse (D-RI) Demands an Executive Order to Address Climate
Executive Beast Mode
“With legislative climate options now closed, it’s now time for executive Beast Mode.“
Sheldon Whitehouse is delusional. The Supreme Court would easily kill executive overreach.
This court has already done so many times.
Climate Change Fearmongering and Scorched Earth
The Washington Post discusses Manchin’s Stunning Blow to Climate Change.
Senate Finance Chair Ron Wyden (D-Ore.), whose panel has jurisdiction over the clean energy tax credits in the package, lamented that “nearly all the issues in the climate and energy space had been resolved” after months of deliberations.
“This is our last chance to prevent the most catastrophic — and costly — effects of climate change,” Wyden said in a statement. “We can’t come back in another decade and forestall hundreds of billions — if not trillions — in economic damage and undo the inevitable human toll.”
Without the reconciliation bill, America is on track to miss President Biden’s target of cutting the nation’s emissions 50 to 52 percent by 2030, according to an analysis released Thursday by the Rhodium Group, an independent research firm.
Jamal Raad, who leads the climate advocacy group Evergreen Action, told The Climate 202 that the White House no longer has an excuse to consider approving new fossil fuel projects to help secure Manchin’s elusive vote.
He called on Biden to block fossil fuel infrastructure that would lock in emissions for decades to come, including ConocoPhillips’s Willow project on Alaska’s North Slope and new offshore oil and gas leasing in federal waters.
“The White House needs to end the Willow project and all new leasing in the Gulf of Mexico and in Alaska,” Raad said. “They need to send a message that if [Manchin] isn’t going to play ball to invest in clean energy, what the White House is doing on fossil fuels is done.”
Democrats’ Message Already Understood
The oil and gas industry already understands the setup.
This administration has a goal of killing fossil fuels and with that US energy independence.
Killing fossil fuels would me massively inflationary and it’s a lie to say otherwise.
Senator Joe Biden on Killing the Deal
“What the Washington Post failed to say was I said, until we see the July inflation figures, until we see the July Federal Reserve interest rates, then let’s wait until that comes out until we know that we are going down the path that won’t be inflammatory, to add more to inflation.”
“Inflation is absolutely killing many, many people. They can’t buy gasoline, they have a hard time buying groceries. Everything they buy and consume for their daily lives is a hardship to them.”
“And can’t we wait to be sure that we do nothing to add to that. And I can’t make that decision on taxes of any type, and also on the energy and climate because it takes the taxes to pay for the investment in the clean technology that I am in favor of. But I am not going to overreach and cause more problems.”
“My main goal is what’s good for my country. I’m not worried about what’s good for the Democrat or Republican parties. The bottom line is the American people are getting short-sided by the political timetables and the political gesturing that’s going on.”
The Bottom Line and Manchin Caught It
“I was very clear, when the President and I talked. Mr. President, this piece of legislation is going to change our country from what John Kennedy said, ask not what your country can do for you but what you can do for your country.”
“This piece of legislation will change us to how much more can my country do for me. And we are thirty and a half trillion dollars in debt and climbing.”
“There’s no such thing as build back better again.”
Thank You Senator!
Thank you Senator Manchin for finally killing Build Back Better.
Let the Progressives howl. We do not need any more of their inflationary free money or Green New Deal nonsense.
Consumer Price Index Jumps Another 1.3 Percent, Much More Than Than Expected
For more on the CPI, please see Consumer Price Index Jumps Another 1.3 Percent, Much More Than Than Expected
And No Matter What’s in Your Food Basket, the Price Keeps Rising Fast
Finally, A Big Housing Bust is the Key to Understanding This Recession
This post originated at MishTalk.Com.
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Mish
Manchin did exactly what the DONORcrat Party wanted him to do – play his role as the “rotating villain” this time.
The BBC took that figure from a UN document which if you
read it says that the Figures of Ukrainian refugees in Russia are incomplete
compared to other countries listed because Russia transmitted to them only the
figure of Ukrainians entering Russia and not the corresponding figures of
Ukrainians returning across the border. The Russians record only the positive figures
and not the net figures as all the other countries do. Obviously if you don’t
net it out it gives you the impression that lots are going to Russia which is
what Russia wants everyone to believe.
Here is the UN study that the BBC used: https://data.unhcr.org/en/situations/ukraine
SmokeyIX also gave me a youtube interview of pro-Russian refugees
as proof and let me also use anecdotal evidence that is personal. A very good
friend has a son that over twenty years ago was working Donbass and came back with a
Ukrainian bride (the same age as he and they are still married). Her younger
sister and her kids stayed in Donbass and the war rolled over them. They were evacuated to Russia because the Russians controlled the area. Once there her sister got money to her to be able to take a plane to
Ankara and then to France where she and her kids are living with her sister in France. In official records they would have been registered as having crossed
the border into Russia and that figure would have been sent to the UN but not
the figure of her leaving Russia. She and her sister are Russian-speaking but
hate what Russia is doing.
Chairman Ron Wyden of Oregon, who previously talked with Manchin about a
package of clean energy incentives, said in a statement. “This is our
last chance to prevent the most catastrophic — and costly — effects of
climate change.”
p.s.: Now before you get all insulted, let me say: Better to be thought drunk than insane, because the former will pass.