• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

LIZ PEEK: The gigantic slush fund inside the Biden White House

by February 25, 2025
written by February 25, 2025
NEWYou can now listen to Fox News articles!

The outrage over $2 billion being handed to a Stacey Abrams-related start-up by the defeated Joe Biden administration is justified. But it is not surprising. Climate spending by the Biden White House was always political.

In 2022, President Joe Biden tapped long-time Democrat operative John Podesta to oversee the disbursement of $375 billon to climate-related initiatives – monies that were included in the dishonestly named ‘Inflation Reduction Act.’ Those funds were supposed to be spent on projects that would drive the country towards Democrats’ goal of a 40% reduction in carbon output below 2005 levels by 2030. 

In reality, the funds set up a gigantic slush fund within the White House, available to Podesta as he set about boosting Democrats’ prospects in 2024. When Podesta was appointed, Gina McCarthy, Biden’s domestic climate adviser, left the White House. Perhaps she declined to turn what was meant to be an important tool against climate change into a political magic wand.

The left-leaning media tried to prettify the Podesta appointment. The New York Times called him a ‘veteran Washington insider who spearheaded the Obama administration’s climate strategy,’ but also highlighted Podesta’s political credentials, which included serving as Bill Clinton’s chief of staff, Hillary Clinton’s 2016 campaign chair and founder of the Center for American Progress, a leftist think tank. Likely most relevant was that Podesta was brought in to ‘help salvage a difficult second term for President Barack Obama’; in 2022, with Biden’s approval ratings collapsing, Podesta was brought out of retirement for another rescue mission. 

In August 2024, the White House put out a fact sheet touting its accomplishments, citing in particular ‘over $265 billion in clean energy investments.’ But the purpose of those investments was not limited to cleaning up the air or reducing our dependence on fossil fuels. 

The White House reported that, ‘According to Treasury Department analysis…75% of private sector clean energy investments have flowed to counties with lower than median household incomes…’ 

They declared that, ‘the Inflation Reduction Act is the largest investment in environmental justice in history.’ Investments targeted communities ‘with below average wages, incomes, employment rates, and college graduation rates…’ 

Some of the recipient areas were purportedly chosen to offset damage done by closing coal mines, for instance, to replace jobs lost in the energy transition. But a map indicates that many toss-up states and counties were also teed up to receive benefits.

Are these counties heavily minority and therefore especially important to Democrats? Were they useful in picking up votes? Certainly, investing in Arizona, Nevada, Michigan and numerous other states cited on a map provided by the government suggests their ability to pick and choose. 

Did they do that? We cannot say for certain, but given Podesta’s hand on the tiller we would assume the beneficiaries of the IRA were carefully chosen for their political benefits. 

A project called Solar for All advances similar goals, part of Biden’s ‘Justice40 Initiative,’ which determined that 40% of certain federal climate and clean energy investments flow to ‘disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.’ 

You get the point, as Podesta hoped that voters would as well. When the White House touted multi-billion-dollar solar investments including the Libra Solar Project in Nevada, a critical swing state, two months before last year’s election, it was not an accident.

Of course, it wasn’t just building out solar projects or handing out tax credits that Podesta orchestrated. The push for EVs arguably soured a great many autoworkers on Biden’s climate agenda, which required Detroit automakers to effectively abandon making profitable and popular cars in favor of turning out EVs. To compensate, and retain his endorsement from the UAW, critical in swing-state Michigan, the Biden White House scurried to prop up the industry. 

In July last year, the administration announced a $334.8 million investment to convert Stellantis’ Belvidere, Illinois Assembly Plant to build electric vehicles and components. So fragile was the EV project that the Department of Energy gave $1.7 billion to convert 11 auto plants in 8 states to keep them afloat. 

Despite their best efforts, the White House was unable to burn though $375 billion, which brings us to former Georgia State Rep. Democrat Stacey Abrams. Leaked video from Project Veritas revealed an adviser to the EPA saying that Biden’s apparatchiks were so worried that President Trump or Congress would demand the return of unspent monies that they shoveled what remained out the door, characterizing the frenzied dispersal of funds as throwing ‘gold bars off the Titanic.’

The EPA consultant, Brent Efron, says that typically his department had been putting ‘the proper processes in place to prevent fraud and prevent abuse,’ but were frantically tossing money to tribes, nonprofits and states ‘because it was harder if it was a government-run program, they could take the money away, if Trump won.’

One of those gold bars landed in the lap of a start-up organization tied to Stacey Abrams, the twice-failed candidate for Georgia governor and persistent election denier. The nonprofit, Power Forward Communities, was the brainchild of several left-wing pro-Biden groups; in 2023, it reported revenues of exactly $100. Abrams is senior counsel at Rewiring America, one of the founding groups, and has boasted of her support for the Power Forward initiative.  

Zeldin, in an interview about the funds, said, ‘When we learned about the Biden Administration’s scheme to quickly park $20 billion outside the agency, we suspected that some organizations were created out of thin air just to take advantage of this.’ It seems he was correct. 

Twenty billion dollars is an enormous amount of money. The fact that the Biden White House purposefully ‘hid’ and likely misused those funds and more, demands investigation. Zeldin said in a video posted on X, ‘The days of irresponsibly shoveling boatloads of cash to far-left activist groups in the name of environmental justice and climate equity are over.’ 

Let us hope so.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
JPMorgan Chase CEO Jamie Dimon says DOGE ‘needs to be done’ to fix government inefficiency
next post
SCOOP: FCC to brief lawmakers on George Soros investigation in closed-door meeting

related articles

Inside Trump’s ultimatum that forced Netanyahu to the...

October 23, 2025

Vance rebukes Israel on ‘very stupid’ vote to...

October 23, 2025

Top Republican slams Katherine Clark for admitting suffering...

October 23, 2025

Vance calls Psaki comments about wife Usha ‘disgraceful’

October 23, 2025

Trump yet to endorse in VA governor’s race...

October 23, 2025

DAVID MARCUS: Trump’s ballroom is no vanity project,...

October 23, 2025

Examining the next threat from Communist China: Our...

October 23, 2025

Sparks fly as Cuomo, Mamdani tear into each...

October 23, 2025

Trump meets NATO’s Rutte amid canceled Putin meeting:...

October 22, 2025

Schumer blocks 12th GOP bid to reopen government...

October 22, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Bitcoin mining company Cipher considering sale after takeover bid

    July 18, 2024
  • Father of Hamas’ youngest hostages is released — but his family remains in Hamas captivity

    February 1, 2025
  • Republicans scrap deal in ‘big, beautiful bill’ to lower restrictions on states’ AI regulations

    July 1, 2025
  • Blame Game: GOP spotlights ‘Schumer shutdown’ while Dems lash out at Republicans ahead of 2026 midterms

    October 1, 2025
  • America celebrates Irish culture and politics on St. Patrick’s Day

    March 17, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,503)
  • Investing (634)
  • Stock (941)

Latest Posts

  • Drone company’s stock soars after appointing Donald Trump Jr. to advisory board

    November 27, 2024
  • Government shutdown enters 3rd day as Senate stalemate over Obamacare subsidies drags on

    October 3, 2025
  • Tesla’s robotaxi launch in tech-friendly Austin has Musk playing catch-up in his hometown

    June 3, 2025

Recent Posts

  • After high-profile divorce, Ashley Biden reflects on ‘one of the hardest summers’

    September 4, 2025
  • Homeless people can be removed from streets by cities, states in new Trump executive order

    July 24, 2025
  • Trump doesn’t plan to deport Prince Harry, saying Meghan Markle is enough of a burden for the royal

    February 9, 2025

Editor’s Pick

  • Trump admin urges Supreme Court to allow president to fire Federal Trade Commission member

    September 5, 2025
  • US Presidential Election: Harris, Trump & Debate

    August 1, 2024
  • GOP rebels push for $2.5 trillion cuts in Trump budget bill during tense closed-door meeting

    February 5, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock