Economy

Washington's chattering class is busy debating whether President Biden Joe Biden Obama, Clinton reflect on Mondale's legacy Biden, Harris commend Mondale in paving the way for female VP Mondale in last message to staff: 'Joe in the White House certainly helps' MORE ’s proposed investments in better care for seniors, children and people with disabilities fit the dictionary definition of “infrastructure.” But one factor should be beyond debate: If we build a bigger, better care system, it will grow our economy and create good jobs, especially among groups hardest hit by the COVID-19 crisis. A new analysis shows that if we want to recover from the pandemic induced economic hit, we need to build care systems and fix roads and bridges. Doing both will help Americans reach a single, important goal: getting back to work. Of course, care investments will improve the lives of our most vulnerable groups. But there’s a reason we call home care for older Americans, … [Read more...] about Care economy investments: Not just better care, but a growing economy

Procter & Gamble on Tuesday became the latest major U.S. consumer products company to announce plans to hike prices of its goods in the face of rising commodities prices and transportation costs. The company—which makes some of the U.S.’s best-known household products, including Gillette razors, Tide detergent, and Crest toothpaste—said in its quarterly earnings announcement that it would hike prices on feminine care, baby care, and adult incontinence products beginning in September. The company said the prices increases would be in the mid to high single digits. Rival Kimberly-Clark, which makes Huggies diapers and Kleenix facial tissues, said last month that it would hike prices by a similar amount starting in June. Coca-Cola said on Monday that it was also planning to raise prices to offset rising commodities costs. “We are well-hedged in ’21, but there’s pressure built up for ’22, and so there will have to be some price increases,” CEO James Quincey said in an … [Read more...] about Coke, Procter & Gamble Announce Plans To Hike Prices As Deficit Spending Explodes Higher

Mexico’s president is offering to curb Central American migration if President Joe Biden lets more Mexicans take U.S. jobs needed by Americans, according to Bloomberg news. The site reported Mexico’s offer on Sunday: “President Andres Manuel Lopez Obrador said that he would propose the plan to U.S. President Joe Biden at a summit on climate change on Thursday. He said the plan could create more than a million jobs and that participants in the reforestation program should be given a chance to obtain U.S. work visas and, eventually, even U.S. citizenship. “This would allow us to order the flow of migration, which overflowed in March,” Lopez Obrador said in a video posted on Sunday from his ranch in the southern state of Chiapas. […] “This is the way to strengthen productive commercial and economic activities of North America,” he said. “If we don’t unite in the Americas, Asia will out pace us.” “As a fossil-fuel nationalist, AMLO [Obrador] has so little to offer on … [Read more...] about Mexico’s President Obrador Offers Deal to Joe Biden: Work Visas for Border Security

Environmental Protection Agency (EPA) staff warned of factual and legal issues in a Trump administration joint vehicle climate rollback issued with a Department of Transportation agency, an internal government watchdog said. A report from the office of the EPA’s inspector general raised the concerns about the interagency collaboration between the EPA and the National Highway Traffic Safety Administration (NHTSA)  in a new report issued on Tuesday. The report said that EPA technical staff told leadership that they hadn’t seen about 650 pages of the 1,000-page rule before it was sent to the White House for review because of a “lack of interagency collaboration at the technical level.” ADVERTISEMENT The rule, which was primarily put together by NHTSA, had “numerous errors and inaccuracies” when it was submitted for interagency review, the inspector general said, citing comments by the EPA. The report said that then-EPA Administrator Andrew Wheeler Andrew … [Read more...] about EPA staff warned of factual, legal issues in Trump vehicle climate rollback, watchdog says

The next financial reckoning is coming, but it is adeptly camouflaging itself. A quarter-century of warnings about the catastrophic consequences of government overspending have lulled us into a sense of false security since the predicted collapse of the U.S. economy has not arrived. The stock market climbs, and post-COVID-19 predictions suggest even better economic results over the next several quarters . As a result, Democrats and Republicans have become comfortable clinging to a spend-what-you-want modern monetary theory that has all but obliterated sound fiscal policy. We foolishly believe that we have found the Holy Grail of economics. What we have found is self-delusional financial fantasy. There is no free lunch. Larry Summers , the respected former Treasury secretary, indicted the country’s leaders – Republican and Democrat – for piling up mountains of debt and printing money. He called it the “least responsible fiscal macroeconomic policy we’ve had for the last 40 … [Read more...] about This won’t be the financial reckoning we expected