What to Know: Economist Art Laffer says we might already be in a recession—or else, it could just be a matter of weeks.

The TPPF Take: The economic pain is entirely due to bad government policies.

“With the economy stagnating and inflation soaring, stagflation is here for the first time since the Great Inflation of the 1970s because of bad policies out of Washington,” says TPPF’s Vance Ginn. “A recession is inevitable as the government-inflated ‘boom’ busts—and we could already be in one. But pro-growth policies would help ease the pain.”

For more on stagflation, click here.

Don’t Get Defensive

What to Know: The Biden administration could soon invoke the Defense Production Act in response to skyrocketing gas prices. It has already used the DPA to boost the solar industry.

The TPPF Take: Presidents have often used the Defense Production Act to push through unpopular policies.

“President Obama invoked the act in 2012 when setting a goal to reduce oil imports by one third by 2025, but he focused on handing out subsidies to biofuels while imposing more regulations on the oil and gas production that that America desperately needed at the time,” says TPPF’s Brent Bennett. “Unfortunately, President Biden is following the same failed playbook as President Obama and taking it to a new level. It is long past time for Congress to stop allowing the president to use the DPA to solve his political problems or to subsidize favored industries.”

For more on the Defense Production Act, click here.

SEC and Small Farmers

What to Know: New SEC climate rules will burden and harm small farmers and ranchers.

The TPPF Take: The SEC’s climate rule will hurt businesses and promote unscientific alarmism.

“The SEC’s climate disclosure proposal will further muddy the waters and cement the radical climate movement in our society and our halls of government,” says TPPF’s Jason Isaac. “The American people deserve better. At minimum, they deserve a federal government that respects the constitutional separation of powers. Our Founding Fathers gave Congress — not the president — the power to make laws for a reason: to ensure our elected representatives are accountable to the people. Forcing agenda-driven mandates down our throats through executive diktat allows no such accountability.”

For more on the SEC rule, click here.