Joe Biden's Catch 22 State of the Union
2022 . Nancy Pelosi watches as
now finally she can pull the strings .
a State of the Union [State of the Dis-Union? ]
This is the first time in (1)>>US history that a State of the Union [State of the Dis-Union? ]address or annual message will be delivered in March; for most of the past century presidents delivered their annual addresses to Congress in January or February, according to the House historian.However, Biden’s third objective may well be his most difficult.If he fails, the risk exists for a further decay in his already low approval ratings. Biden's speech to a joint session of Congress last year was heavily restricted due to coronavirus, with only around 200 people allowed in the chamber. It's not clear whether those or similar restrictions will be in place this year .He will need to explain that economic (2)>>sanctions against Russia may be felt in the pockets of all Americans. Uncertainty in markets, disruptions to the global energy supplies, additional increases in the cost of goods, travel disruptions to some parts of the world may all arise as a secondary effect of our and our allies’ decision to sanction Russia. It’s been a more turbulent flight than expected. And most recently, Russian President Vladimir Putin has expanded his invasion of Ukraine, plunging Europe into war and hijacking Biden’s foreign policy agenda.That's odd because last month, Biden promised what sounds exactly like a SOTU: "Next month, in my first appearance before a joint session of Congress, I will lay out my 'Build Back Better' recovery plan," he said. "It will make historic investments in infrastructure, manufacturing, innovation, and research and development in clean energy."The White House had conceived Tuesday night’s speech as an opportunity to highlight the improving coronavirus outlook, rebrand Biden’s domestic policy priorities and show a path to lower costs for families grappling with soaring inflation. But it has taken on new significance with Russia’s invasion of Ukraine and nuclear saber-rattling by Vladimir Putin.Rising energy prices as a result of (3)>>Russia’s war in Ukraine risk exacerbating inflation in the U.S., which is already at the highest level in 40 years, eating into people’s earnings and threatening the economic recovery from the pandemic. And while the geopolitical crisis in Eastern Europe may have helped to cool partisan tensions in Washington, it can’t erase the political and cultural discord that is casting doubt on Biden’s ability to deliver on his pledge to promote national unity.
Biden Economy in the Tank .
With inflation at a four-decade high and hurting Americans’ spending power — as well as Democrats’ poll numbers — Biden used the State of the Union to put forward his plan to stop it. This year’s State of the Union address was supposed to be an opportunity for (4)>>President Biden to reset the conversation around the American economy, lay out a plan to combat inflation, highlight the infrastructure projects happening as a result of his signature legislation, reassure Americans that we are entering a more encouraging phase of the pandemic, and discuss the resume of Judge Ketanji Brown Jackson. Vladimir Putin’s march into Ukraine has thrown this plan out the window. And so, this speech is a major test of whether our nation’s most experienced sitting president can balance numerous policy and geopolitical challenges, while unifying, motivating, and preparing the American public for what may be difficult days ahead.Since he took office, more than 6.6 million jobs have been created, 467,000 in January of 2022 – far more than the slight gain or possible loss of up to 300,000 jobs that was expected, Biden said in remarks at the White House. (5)>>President Biden to do something about inflation. (5.1)>>Shortages of goods on grocery store shelves and delays receiving goods ordered online have convinced the people that unclogging the supply chain is an important part of the solution. But despite the administration’s claims, they haven’t seen much progress on this front. The contrast between the high visibility of the pandemic task force and the virtual disappearance of supply chain task force has been dramatic, especially because the people now care more about rising prices than falling infection rates.The people believe that there is a connection between spending and inflation, and the administrations’ argument that its legislative agenda is anti-inflationary has fallen flat. (6)>>Inflation is something people feel, you know, in a different way than they do other economic indicators. The price of gas is reflected every time you get a tank of gas. Because income disparity is still out of control and only getting worse. The average person doesn't benefit that much from "The Market" doing well. Capital owners benefit; the working class does not.Although we saw wages go up nominally, real wages are down. Thats the biggest problem I see with the Dems. They lie to the people by telling that wages are up and economy is great. They are doubling down now with the BBB bill in midst of the largest ppi and CPI reports seen. To me, they are sacrificing the country for their political position.The aggregate economy - the one of job numbers, stock prices, and a thousand other indicators - is very strong. It shows a illusion solid economic recovery, good doctored job creation numbers, record corporate profits, etc.The individual economy is a different story. Inflation has ticked up slightly, gas prices are up, costs of consumer goods are up, wages remain stagnant, and the pandemic-era aid is slowly but surely drying up.This remains the fundamental disconnect between people and the economy as a whole. How people feel isn't necessarily how the economy is doing.
Catch 22 in the year 2022 .
At this rate, POTUS’ SOTU looks certain to end up with over 38 million viewers when all the outlets are accounted for.If the final numbers for Biden’s speech show it in the 37 million range, it will Some Build Back Better policies got more airtime than others, and three got detailed shoutouts. The focus was on cost-cutting: (7)>>Biden said he wanted to cut the cost of prescription drugs, (7.1)>>cut energy costs by combating climate change, and cut child care costs. A few other Build Back Better policies were briefly name-checked, but those three may be the heart of what Biden still thinks he can pass. Others that are reportedly being dropped from the bill, like paid leave and the expanded child tax credit, got only a passing mention.As administration officials start to spend the $1.2 trillion bipartisan infrastructure money for roads, bridges and broadband, the president has put his Cabinet on notice.Officials face a high bar if their departments want a waiver to "Buy American," REMEMBER as if (8)>>Biden borrowed a line from TRUMP. "Buy American" requirements on all federal spending, and, so far, maintaining President Trump's tariffs on China.President Biden and his top advisers are caught in a loop: They know inflation wounds them politically and hurts their voters, but scrapping some inflationary policies would wound them politically — and hurt their voters.
NOTES AND COMMENTS:
(1)>>US history that a State of the Union [State of the Dis-Union? Because the US has been steadily losing the will to wield power. It is distracted and deeply internally divided. It is as if it has cultivated its worst enemies within. They are now hollowing out its soul.Its teachers have started telling students that patriotism is uncool and evil. An English teacher at a California school, Kristin Pitzen, exhorted students to pledge allegiance to the Pride flag instead of the nation’s Star-Spangled Banner. Little, pre-pubescent children are being indoctrinated and herded into embracing sexual identity and gender fluidity in the name of sexual freedom.The media have hounded a democratically elected president, Donald Trump, almost obsessively. Big tech like Facebook and Twitter showed the temerity to de-platform the most powerful office of the nation and arguably the world.Some of the Democrat-ruled states in the US have taken this pandering of the far-Left to such an extreme that California has virtually legalised theft and burglary. It made stealing anything worth less than $950, unless you have a history of violent crimes, a small-time offence. This has led to organised “smash-and-grab” heists, sometimes involving up to 80 people, during the Thanksgiving week. The police in many states have been systemically defunded. (2)>>sanctions against Russia may be felt in the pockets of all Americans. Biden stood at a White House podium announced a second round of penalties on the Russian economy. They were quite strong, such as fully or near-completely blocking Russia's VTB Bank and Sberbank from the U.S. financial system and placing restrictions on exports of U.S. items for Moscow’s forces.The one bad stream of news is inflation. Prices have gone up at rates we haven’t seen since the 1980s, leading the Federal Reserve to signal interest rate increases to cool things off. The President recognized inflationary pressures, due to disruptions in supply chains and faster job creation than many anticipated. But it remains the biggest threat to the boom.The inflation we’re seeing is caused by in part by pandemic supply chain disruptions and also faster growth. But economists learn a lot by disaggregating inflation, and when we do that, we see a picture that’s less troublesome than some fear.With Russia being the third-largest oil producer and with Biden's decision to end Trump-era U.S. energy independence and crack down on petroleum and LNG speculation, the American people will be hit hard if the crisis ignites. Even if sanctions inflict some pain on the target country, they typically fail because of the nature of regimes most likely to become targets of sanctions. Human rights abuses tend to vary inversely with economic development. Governments that systematically deprive citizens of basic human rights typically intervene in daily economic life, resulting in underdeveloped and relatively closed economies. Such nations are the least sensitive to economic pressure. The autocratic nature of their governments also means that they are relatively insulated from any domestic discontent caused by sanctions. If anything, sanctions tend to concentrate economic power in the hands of the target government and reduce that of citizens.(3)>>Russia’s war in Ukraine risk exacerbating inflation in the U.S.,The United States imports relatively little directly from Russia, but a commodities crunch caused by a conflict could have knock-on effects that at least temporarily drive up prices for raw materials and finished goods when much of the world, including the United States, is experiencing rapid inflation.Global unrest could also spook American consumers, prompting them to cut back on spending and other economic activity. If the slowdown were to become severe, it could make it harder for the Federal Reserve, which is planning to raise interest rates in March, to decide how quickly and how aggressively to increase borrowing costs. Central bankers noted in minutes from their most recent meeting that geopolitical risks “could cause increases in global energy prices or exacerbate global supply shortages,” but also that they were a risk to the outlook for growth.The pandemic has left the global economy with two key points of vulnerability — high inflation and jittery financial markets. Aftershocks from the invasion could easily worsen both.There’s a threat to growth too. Households spending an ever-larger chunk of their incomes on fuel and heating will have less cash for other goods and services. Plunging markets would add another drag, hitting wealth and confidence, and making it harder for firms to tap funds for investment.The US, UK and Europe all imposed sanctions on Russia, largely targeted at banks. However, they stopped short of attacking its energy industry, fearing such a move could send energy prices rocketing even higher.(4)>>President Biden to reset the conversation around the American economy. And two years into this pandemic, people are frustrated and fatigued. But it's not just about the virus. Inflation affects people's feelings far more than almost any other economic stat.But from a messaging standpoint, in a midterm election year, that is not a satisfactory explanation for voters. Democratic pollster Celinda Lake says she hears two major concerns. Voters are anxious about economic instability from another potential COVID wave, and they're worried about the rising cost of living.More unemployment is the difference between a job and not a job for 2 or 3% of the population. More inflation is higher prices for 100% of the population.But economists say there is one key data point that has been stubbornly problematic for the president - the inflation rate. It's at 7%. It hasn't been this high since the early '80s. (5)>>President Biden to do something about inflation. AS STATED above note. Inflation is out of control , the Democratic Blue states have the worst regulation , the worst inflation numbers than red states . The economy might look good on paper - record wage gains, an unprecedented number of jobs created and GDP growth not seen in decades. But poll after poll shows voters don't feel good about how the president is handling the economy. In the absence of a high-profile anti-inflation effort, the people are reaching their own conclusions about the administration’s agenda. According to a Politico/Harvard survey, 46% believe that enacting the Build Back Better (BBB) proposal would increase the rate of inflation; just 6% think that it would decrease inflation. Attitudes about the bipartisan infrastructure bill, which President Biden has already signed into law, are very similar.(5.1)>>Shortages of goods on grocery store shelves and delays receiving goods ordered online have convinced the people that unclogging the supply chain is an important part of the solution. Shortages at grocery stores across the country have grown more acute in recent weeks as omicron continues to spread and winter storms have piled on to the supply chain struggles and labor shortages.The shortages being reported nationwide are widespread, impacting produce and meat as well as packaged goods such as cereal.While items are harder to find, many also cost more with rising inflation. Given the state of the supply chain and the widespread damage to small grain crops this year, expect higher prices and lower stock on a lot of stuff.I am more worried about panic buying and hoarding by non preppers, since I have a 6 month pantry or more of food and household.You gotta remember just how much stuff is crammed into our grocery stores. An entire massive aisle JUST for cereal? Another just for various breads? How many shelves devoted to peanut butter? How many brands of canned tuna? It would take a LOT to empty the shelves to the point where we have a problem. Will we see a shortage of certain food items? Maybe. But there’s always an alternative. Are we all going to starve if we can’t have fresh meat but twice a week? What if I can’t find bread for a week?My bigger concern is the government stepping in and enacting price controls on food. Anything with a price control will be affordable but require waiting in lines to get or be unavailable. Everything else will be expensive. With inflation increasing at a fairly quick clip and food prices outstripping inflation I can see this as an outside possibility although I’m certainly not at a stage where I’m even all that worried.(6)>>Inflation is something people feel, you know, in a different way than they do other economic indicators. The price of gas is reflected every time you get a tank of gas. Current gas prices are not primarily due to US foreign policy in general.Biden’s reckless embrace of expensive, ineffective “green-energy” initiatives will hurt all Americans financially and could also damage the president politically. NOW we may well see gasoline prices above $4 a gallon all over the nation , perhaps reaching 8 dollars a gallon in California in a few months. Biden administration’s plan to obliterate the jobs of American oil and gas explorers and producers has been on clear display with cancellation of the Keystone XL Pipeline, the initial announcement of a 60-day freeze on federal leasing and permitting. US gas prices are already up more than three times that amount during the course of Russia's invasion of Ukraine. And energy traders, according to Isidore's report, are already shying away from purchasing Russian oil due to the war.Some members of the Senate introduced a bipartisan bill to ban all imports of Russian oil Thursday. The White House said gas prices would spike even more if the bill was passed. (7)>>Biden said he wanted to cut the cost of prescription drugs. Biden's plan would also allow Medicare to negotiate certain drug prices with manufacturers, something now prohibited, and it would cap out-of-pocket costs for some prescription drugs for Medicare recipients at $2,000 a year.In brief remarks at the White House, the president pointed to the cost of insulin needed to treat Type 1 diabetes, which Biden says affects some 1.5 million Americans, who pay anywhere from $375 to $1,000 per month for the drug. The House-passed measure would cap insulin prices at $35 per month."I think it's safe to say that all of us, all of us, whatever our age, wherever we live, we can agree that prescription drugs are outrageously expensive in this country," Biden said, adding, "Shame on us as a nation if we can't do better than this."To control costs, Biden pointed to the proposals of his Build Back Better program that includes a plan to penalize drug companies that increase the prices of their prescription drugs faster than the rate of inflation. Drug companies would be required to pay a “steep tax” if the costs of their drugs increase faster than inflation, the president said. (7.1)>>cut energy costs . LOL 😂President Biden said that he’d “work like the devil” to keep fuel prices low in the United States and warned that Russia’s border aggression against Ukraine could drive up energy costs.Biden says he wants to lower energy costs but has done everything he can to shut down American energy production.President Biden claimed his legislation would lower energy costs by subsidizing renewables, but that’s obviously wrong: renewables make electricity expensive everywhere Worse, Biden is proposing to double down on the same policies that empowered Putin to invade Ukraine. Biden said his legislation would “cut energy costs for families an ave. of $500/year by combating climate change” w/ “tax credits to weatherize your home & business to be energy-efficient. Double America's clean energy production in solar, wind… Lower price of electric vehicles”. Renewables make electricity expensive bc they are inherently unreliable & require 100% back-up power Renewables made California electricity prices rise 7x more than the rest of the USAnd renewables made Germany’s electricity the most expensive, and Russia-dependent, in Europe. (8)>>Biden borrowed a line from TRUMP. "Buy American".While most of Biden’s executive orders have sought to reverse policies of the past four years, this “Buy American” order sounds eerily Trumpian.Well that's exactly what he said he would do when he was campaigning and he's kept his promises and he borrowed a line from Trump who said when he came to office something along the lines of -anything that can be done can be undone. NOW that's the CATCH 22 of Biden's plan .
