(FREE) PAINE IN THE MORNING: What you need to know this Tuesday – January 17, 2023

Here’s what you need to know today, Tuesday – January 17, 2023.

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Yellen says US is projected to hit debt ceiling on Jan. 19 – Treasury Secretary Janet Yellen said the U.S. is projected to reach its roughly $31.4 trillion borrowing limit in less than a week.

Yellen shared the estimate in a letter to Speaker Kevin McCarthy (R-Calif.) on Friday. She also warned the department would soon have to begin taking “extraordinary measures” to stave off a default to buy time for Congress to find a bipartisan solution. – READ MORE

Here’s How Much Federal Spending Must Be Cut to Balance the Budget – It’s been more than twenty years since we last had a balanced federal budget during the tenure of former House Speaker Newt Gingrich (R-Ga.). Will we ever see a balanced budget again?

It’s theoretically possible, but it would take tremendous cuts in spending. – READ MORE

The Great Unwind: Busiest US Container Ports Went From Swamped To Eerily Quiet – Container volumes at the twin ports of Los Angeles and Long Beach, California, are seeing steep declines versus one year ago, signaling a downturn in imported goods might suggest continued sinking economic activity.

The twin ports are the busiest container port complex in the country, responsible for 40% of all containerized flow, and are a major artery feeding overseas goods into the Heartland through rail and trucking networks. – READ MORE

Meet the Green Energy Group Behind the Study That’s Driving Calls To Ban Gas Stoves –  The green energy group behind a study cited in Consumer Product Safety commissioner Richard Trumka Jr.’s call to ban gas stoves has partnered with the Chinese government to implement an “economy-wide transformation” away from oil and gas.

Colorado-based nonprofit Rocky Mountain Institute, which published the December study that attributes 13 percent of U.S. childhood asthma cases to gas-stove use, is hardly staffed by an objective group of scientists. – READ MORE

Joe Biden Reportedly Spent 163 Days in Wilmington Home Where Secret Service Claims No Visitor Logs Exist – President Joe Biden has reportedly spent 163 days of his presidency at his home in Wilmington, Delaware, where the Secret Service claimed Sunday no visitor logs exist.

Critics have raised questions about who might have visited Biden’s residence after his attorneys found classified documents stashed in the home’s garage. – READ MORE

Biden’s DHS Launches App Allowing Migrants to Schedule Appointments at Southern Border for Release into U.S. – President Joe Biden’s Department of Homeland Security (DHS) has launched a new component of the Customs and Border Protection (CBP) One app, allowing foreign nationals in Central and Northern Mexico to schedule appointments at the United States-Mexico border for release into the U.S. interior.

This week, DHS officials announced the new component of the CBP One mobile app that will entice foreign nationals living in Mexico who are pregnant, mentally ill, elderly, disabled, homeless, or crime victims to schedule an appointment with CBP agents at the U.S.-Mexico border in the hopes of being released into American communities. – READ MORE

Healthcare for Illegal Aliens in DHS Custody Costs Taxpayers $324M a Year as Over 30M Americans Go Uninsured – American taxpayers are footing a $324 million annual bill to provide healthcare services to illegal aliens in Immigration and Customs Enforcement (ICE) custody, a new report finds, even as more than 30 million Americans continue to go uninsured.

In ICE’s year-end report, the agency revealed that “providing medical care, including mental healthcare, to all detained” illegal aliens cost taxpayers about $324 million in Fiscal Year 2022. – READ MORE

Communist China ‘Always in Step with the Davos Spirit’ – CCP Media – China has “always” been “in step with the Davos Spirit”, according to a newspaper which serves as a Chinese Communist Party (CCP) mouthpiece.

An editorial published by the Global Times, wholly owned by the official newspaper of the Central Committee of the Chinese Communist Party (CCP), the People’s Daily, has given full-throated endorsement to this year’s World Economic Forum (WEF) summit in the elite ski resort of Davos, Switzerland. – READ MORE

New Covid Variant May Target the Vaccinated – Health officials in New York City are saying that those who have been vaccinated against COVID-19 may be at a higher risk of contracting the new omicron subvariant XBB.1.5.

And yes, I said vaccinated, not unvaccinated.

“Omicron subvariant XBB.1.5 now accounts for 73% of all sequenced COVID-19 cases in NYC,” the NYC Department of Health and Mental Hygiene tweeted late last week. “XBB.1.5 is the most transmissible form of COVID-19 that we know of to date and may be more likely to infect people who have been vaccinated or already had COVID-19.” – READ MORE