Tag Archives: Biden

The White House is sending $36 billion to buttress the Central States Pension Fund, one of the biggest and most troubled funds that manages the pensions of over 350,000 union workers and retirees. The pending announcement on Tuesday comes about 21 months after President Biden promised $86 billion to troubled multi-employer pension funds via a controversial provision tucked inside the American Rescue Plan. The check from Washington is a note of finality in the decades-long push to shore up… Source link

Voters are poised to give President Biden one thumbs-down in the Nov. 8 midterm elections, and maybe two. Democrats seem likely to lose control of the House of Representatives, with maybe 50-50 odds of losing the Senate, as well. The main reason is no secret: Inflation. Gasoline prices have retreated from the peak of $5 per gallon in August, to around $3.75 now. But that’s not good enough. Overall inflation is still 8.2% and food inflation is 13%. Wages are only growing by 4.3%. The typical… Source link

President Joe Biden on Friday offered an update on the launch of his administration’s student loan forgiveness efforts, announcing that in just under a week, nearly 22 million people applied online. “In less than a week, close to 22 million people have already given us the information,” Biden said during a visit to Delaware State University. “It takes less than five minutes.” The beta version of the application for up to $20,000 in loan forgiveness launched on Oct. 15 followed by the… Source link

Home Depot Co-Founder Bernie Marcus says 40-year high levels of inflation would come down if the Biden administration makes it easier for oil companies to drill in the country. “We have a president that just doesn’t believe in that [oil drilling],” Marcus said on a new episode of Yahoo Finance Presents. “We are sitting on tons of oil and gas, and he doesn’t allow us to drill. It’s basically stupid. I can’t come with another word. It’s stupid. And we will continue to suffer this inflation. And… Source link

When President Biden brags about 10 million new jobs created since he took office, he’s got a legitimate claim to success. No other president comes close to matching his record on jobs. The problem for Biden is that high inflation and weak income gains undercut the remarkably strong labor market of the last two years. Biden crossed the 10 million–jobs threshold with the employment report for September, when the U.S. economy created 263,000 new jobs. That brings the total number of new… Source link

WASHINGTON — They were the four words that caused a national furor, four words that addressed an issue of intense contention with immense political stakes. “The pandemic is over,” President Biden told “60 Minutes” in an interview on Sunday, as he walked the otherwise empty floor of the Detroit Auto Show with interviewer Scott Pelley. Neither wore a mask or kept the kind of distance that public health officials once mandated to keep the virus from spreading. The president pointed out… Source link

A Mustang stampede and a presidential visit are on offer at this year’s Detroit Auto Show. The show, also known as the North American International Auto Show (NAIAS), usually takes place in January from the Huntington Place convention center next to the usually frozen Detroit River. But due to COVID-19 and other changes, the show was cancelled last year and moved to September. Though many automakers have been pulling away from traditional auto shows, some of the bigger automakers are still… Source link

There could be a major blow to the U.S. economy coming down the line: Freight railroads are preparing for possible strikes as a years-long labor dispute sits at an impasse ahead of a key Friday night deadline. A strike would not only add to the nation’s supply chain woes, but throw a monkey wrench into President Biden’s plan to tout the nation’s economic progress as midterm elections approach. On one side are freight companies like Union Pacific (UNP), CSX (CSX), and BNSF Railway, owned by… Source link

An oft-repeated regret among former aides to President Obama is that they didn’t spend enough time traveling and selling voters on their accomplishments. Recent days from the Biden White House have been a demonstration of how intent aides are on not repeating that perceived mistake. Last week, President Biden visited Wisconsin, Pennsylvania, Ohio, and Maryland for numerous events. This week, Biden will visit Massachusetts and Michigan and is expected to deliver seven speeches. “I don’t… Source link

As President Biden’s approval rating continues to bounce back from its summertime lows, a new Yahoo News/YouGov poll now shows him leading former President Donald Trump in a 2024 rematch by the widest margin since March. The survey of 1,634 U.S. adults was conducted from Sept. 2 to Sept. 6 — immediately after a combative primetime speech last Thursday, in which Biden blasted “Trump and the MAGA Republicans” as “extremists” who “threat[en] the very foundations of our… Source link