• 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
LGBT Americans reach record number, more likely to be Dems, Gen Z: Gallup poll

related articles

Trump’s apocalyptic Iran warning raises stakes for sweeping...

April 7, 2026

Graham eyes ‘down payment’ on Trump-backed SAVE Act...

April 7, 2026

Democrat whose parents fled Iran moves to oust...

April 7, 2026

Midterm alarm bells: Democrats face steep favorability deficit...

April 7, 2026

American journalist kidnapped in Iraq is set free,...

April 7, 2026

Dem Senate primary erupts in key state as...

April 7, 2026

Trump-backed candidate aims to pad GOP’s fragile House...

April 7, 2026

Ilhan Omar calls Trump an ‘unhinged lunatic,’ urges...

April 7, 2026

White House unleashes on Stacey Abrams in latest...

April 7, 2026

Former Virginia Gov Glenn Youngkin hints at political...

April 7, 2026
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

  • White House Cabinet officials rally around Biden despite backlash over his wife taking control of meeting

    September 24, 2024
  • Trump-backed candidate Asfura wins Honduras presidential election

    December 25, 2025
  • Could Butler happen again? Former Secret Service agents weigh in on political violence in 2025

    July 12, 2025
  • Bitcoin continues to stick to the bullish side on Tuesday

    September 11, 2024
  • Jasmine Crockett drops out of race for top House Oversight Committee Democrat

    June 24, 2025

Popular Posts

  • 1

    District judges’ orders blocking Trump agenda face hearing in top Senate committee

    April 2, 2025
  • 2

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

    July 21, 2024
  • 3

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

    July 19, 2024
  • 4

    CoreWeave eyes $1.5B bond raise to ease debt load following lacklustre IPO: report

    May 9, 2025
  • 5

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024

Categories

  • Economy (829)
  • Editor's Pick (8,502)
  • Investing (1,616)
  • Stock (1,017)

Latest Posts

  • S&P 500 closes above 5,600 for the first time, lifted by gains in Big Tech

    July 11, 2024
  • Trump, Vance official portraits released ahead of inauguration

    January 16, 2025
  • 6 House Republicans defy Trump on key agenda item in Dem-pushed vote

    February 12, 2026

Recent Posts

  • Israeli president calls Trump a ‘true friend’ on Inauguration Day, praises his work to release hostages

    January 20, 2025
  • Iran trying to sabotage Trump’s presidential campaign: US intelligence

    July 29, 2024
  • Byron Donalds urges House GOP leaders to hold vote on Biden impeachment after bombshell report

    August 20, 2024

Editor’s Pick

  • Former Republican U.S. senator endorses Kamala Harris, says election offers ‘stark choice’

    September 26, 2024
  • DNI Gabbard refers intel officials to DOJ for prosecution over alleged leaks of classified information

    April 23, 2025
  • WATCH: AOC holds Queens town hall as 2028 White House talk swirls

    May 2, 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