Wednesday, July 9

United States

The U.S. political situation grew increasingly polarized in the last two decades with both parties moving away from the ideological center. What started as intense partisanship has turned into outright extremism, in some cases. Extremism peaked after the 2020 presidential election. It culminated in a violent and deadly scene as the defeated candidate denied he lost the election and encouraged a mob to “fight like hell” at the U.S. Capitol. Several factors are increasing the divide, including gerrymandering–or carving out–districts, the primary system for selecting candidates in the two parties, the amplification of partisanship in cable news and mass media, and campaign finance.

‘Debt Doesn’t Matter,’ Treasury Secretary Yellen Tells Senate Committee
28Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Finance, Investing, Global Economics, Types of News: Brief, United States

‘Debt Doesn’t Matter,’ Treasury Secretary Yellen Tells Senate Committee

September 28, 2021—It's been 20 years since Vice President Dick Cheney asserted to the world and the U.S. Congress that "deficits don't matter." Today, Treasury Secretary Janet Yellen asserted a similar sentiment when asked about the overall size of the debt. In an exchange with Sen. Mike Rounds, R-SD, Yellen said it is the interest cost of the debt, which is virtually zero, is all that matters. "When do we have to say, 'Enough is enough' when it comes to our deficit and our debt?" Rounds asked. Yellen responded that "there are different metrics" for looking at the level of debt. One is the debt-to-GDP ratio. "We are a little bit over 100 percent," she added, "which has traditionally been regarded as high." But rather than use that metric to examine the debt level, Yellen s...
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U.S. Treasury Secretary Warns — Again — About Breach Of Debt Limit
9Sep By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief, United States

U.S. Treasury Secretary Warns — Again — About Breach Of Debt Limit

Photo by Alexander Schimmeck, courtesy Unsplash U.S. Government Likely to Run Out Of Cash By October Without Act of Congress September 9, 2021--U.S. Treasury Secretary Janet Yellen wrote another letter to leaders of Congress yesterday, pleading for lawmakers to authorize a higher level of government spending than the $28.7 trillion currently owed. Having breached the last debt limit long ago, Treasury is relying on extraordinary measures, such as suspension of making payments to certain disability and benefits funds and thrift savings plans, to pay its bills. Like Yellen's last letter in July, the Sept. 8 letter does not mention the amount of the current U.S. debt. Neither does it mention that the U.S. government surpassed the last debt limit of $22 trillion long ago. Congre...
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Biden Defends Exit From Afghanistan, Cites Trump’s 2020 Agreement With The Taliban
31Aug By Patti MohrNo Comments
Democracy, Types of News: Brief, Types of News: Videos, United States

Biden Defends Exit From Afghanistan, Cites Trump’s 2020 Agreement With The Taliban

Nation-Building Through The Military Does Not Work August 31, 2021--In a significant and riveting speech, President Joe Biden defended his decision to complete the withdraw of U.S. troops from war-torn Afghanistan. The speech is noteworthy not only for its forcefulness. It is also relevant for its acknowledgment of a failure and an end to a U.S. policy of promoting democracy through the use of military forces. Biden faced opposition in the United States and around the world for his decision to withdraw troops from Afghanistan. https://www.youtube.com/watch?v=GJRpSm4DdPk
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Despite Falling Numbers, U.S. Still Locks Up More Prisoners Than Any Other Country
18Aug By Patti MohrNo Comments
Democracy, Domestic Politics, Political Systems, Domestic Politics, Types of News: Brief, United States

Despite Falling Numbers, U.S. Still Locks Up More Prisoners Than Any Other Country

Photo by Hédi Benyounes August 18, 2021--The U.S. prison population fell to the lowest level in 2019 since 1995, according to recently released data from the U.S. Justice Department. In 2019, U.S. correction facilities held 6.3 million people, about 65,200 fewer than the previous year. That represented about 1 in 40 U.S. residents under correctional supervision in America. Though the figure declined by about 3 percent over a decade, it still represents the world's largest per capita imprisonment, according to the data available by the World Prison Brief. China's Numbers Aren't A Total It's significant to note, however, that the imprisonment rate in China does not include people held in pre-trial detention – a figure that might total more than 650,000, or up to one million Uyghu...
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Biden, Automakers, UAW Unite to Promote Electric Vehicles
7Aug By Steve BerlinNo Comments
Climate Action, ESG, Sustainable Finance, Domestic Politics, Energy Policy, Oil & Gas, Global Economics, Types of News: Brief, Types of News: Videos, United States

Biden, Automakers, UAW Unite to Promote Electric Vehicles

President Biden held an event with U.S. and Dutch automakers August 5, 2021 at the White House. Executive Order Establishes New Rule-Making on Emissions Standards And Sets Goal 50 Percent Electric Vehicles by 2030 August 7, 2021--President Joe Biden signaled a new push for U.S. battery manufacturers and lower greenhouse gas emissions with an Executive Order calling for half of all new cars and trucks made in America to be electric by 2030. In addition to setting that goal, the president called for federal investment in building a national network of a half-million electric vehicle charging stations, customer incentives that will result in more manufacturing and union jobs, financing and retooling the domestic manufacturing supply chain, and developing more clean technologies. Fund...
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U.S. Government To Breach $22 Trillion Debt Limit By August 1
29Jul By Patti MohrNo Comments
Global Economics, Types of News: Brief, United States

U.S. Government To Breach $22 Trillion Debt Limit By August 1

Total Public Outstanding Debt Is $28.4 Trillion Photo by Alexander Schimmeck. July 29, 2021—The United States government is expected to run out of borrowing authority on August 1. That is two to three months sooner than expected. As a result, beginning tomorrow, July 30, the Treasury will suspend sales of certain securities. The debt limit, however, is actually not so simple. Significantly, the implications are larger than sales of securities. Already Exceeding the $22 Trillion Limit Treasury Secretary Janet Yellen wrote to Congress late last week, asking lawmakers to either increase the current limit or continue suspending it. She said that would "simply allow Treasury to pay for previously enacted expenditures." Reaching the debt limit occurs every few years. It means ...
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8Jul By Steve BerlinNo Comments
Corruption, Bribes, Illicit Finance & Money Laundering, Domestic Politics, Types of News: Brief, United States

Biden Extends Emergency Designation On Transnational Criminal Organizations

July 8, 2021—U.S. President Joe Biden extended a previous national emergency designation regarding the continued threat of transnational criminal organizations to U.S. national security and private interests. The White House’s announcement said transnational criminal organizations "continue to pose an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States." The order allows the U.S. government to block property of organizations involved in criminal activities in two or more countries. Extension of Obama Executive Order The declaration is actually a continuation of executive order 13581 first issued by President Barack Obama in 2011 and continued in 2016. That order named the following organizations: The Brothers' Circle, Camorra...
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Biden Orders Review of Supply Chain, Promises to Increase Domestic Production
27Feb By Patti MohrNo Comments
Global Trade, Types of News: Brief, United States

Biden Orders Review of Supply Chain, Promises to Increase Domestic Production

Feb. 27, 2021--Since the beginning of the COVID-19 pandemic, businesses and consumers around the world have faced shortages of food, medical supplies and prescriptions, industrial parts, and consumer staples. Supply chain interruptions, manufacturing delays and export restrictions have all impacted the way the world trades its goods. Policymakers are taking note, and the United States is no exception. Executive Order on Supply Chains This week, President Joe Biden ordered an administration-wide review of supplies for multiple industries, including semiconductors, high-capacity batteries, critical minerals and materials, such as rare earth elements, and pharmaceuticals. "We shouldn’t have to rely on a foreign country — especially one that doesn’t share our interests or our v...
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‘America Is Back,’ Biden Says, Promising Renewed Global Ties
11Nov By Patti MohrNo Comments
Diplomacy, Domestic Politics, Types of News: Brief, United States

‘America Is Back,’ Biden Says, Promising Renewed Global Ties

November 11, 2020--A week after the U.S. national election, Joe Biden, the presumptive president-elect, said he is beginning to renew U.S. ties with global partners and institutions and is confident he can work with a bipartisan Congress on achieving results. Biden won victories in a high enough number of states to reach the magic 270 electoral votes needed to make the election official in December. Since most media outlets named Biden the president-elect over the weekend, he has taken calls from at least six foreign leaders, including those representing the United Kingdom, France, Germany, Canada and Turkey. New Tone in Washington Biden said he is telling his counterparts the United States will reengage with the world under a Biden presidency. "First of all, I'm letting them kno...
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As US-China Digital Battle Begins, Global Tech Firm Tencent Holdings Hires U.S. Lobbyist
18Aug By Patti MohrNo Comments
Big Tech, Digital Economy, Globalization, Global Disintegration, Types of News: Brief, United States

As US-China Digital Battle Begins, Global Tech Firm Tencent Holdings Hires U.S. Lobbyist

August 18, 2020--As the United States and China begin to battle over the use digital technologies by consumers, Tencent Holdings, a Chinese-based multinational technology company that owns the social media app WeChat, hired a law firm to lobby the U.S. government. Paul, Weiss, Rifkind, Wharton & Garrison a global law firm headquartered in New York, filed a lobbying disclosure filed on August 7 with the Senate. According to the disclosure, the firm intends to represent Tencent, its largest shareholder Naspers Limited, and WeChat in the areas of consumer issues/safety/protection, media and trade. The firm's chief lobbyist on behalf of Tencent is Roberto Gonzalez, an attorney specializing in high-stake litigation, economic sanctions and export controls. Gonzalez has held senior posi...
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