Weak operations in the US create tensions before negotiations on the use of new currencies
A weak employment report in the US has deepened political tensions ahead of talks between the White House and next week’s policymakers on Joe Biden’s more detailed financial plans, which further expands the consensus process.
Following the release of data on Friday showing that U.S. economic activity declined from 770,000 in March to 226,000 in April, Biden called on Congress to take immediate action to approve some financial regulations beyond the $ 1.9tn previously approved budget.
He also urged lawmakers to invest $ 2.3tn in construction projects and $ 1.8tn in social security spending over a decade, taxed by high taxes on the rich and corporations.
Next Wednesday Biden He is expected to convene four church leaders – including Nancy Pelosi, House Speaker, Chuck Schumer, Senate Majority Leader, and Republicans Mitch McConnell and Kevin McCarthy – at the White House to begin the debate.
“No one should ignore the complexity of the war,” he said. “We still have work to do here in Washington. The American people trust us. So, let’s do it. Let’s build a fortune that gives dignity and gives everyone a chance. ”
But while Democrats highlight the need for action to promote recovery, Republicans are calling on regulators to change their ways and reform their economic policies.
“I think [the jobs data] has disrupted every aspect as a prelude to the former position. Democrats see the dangers of standing still, the problem of child care and the fear of contracting the virus in the workplace keep people away and not warming up, “said Austan Goolsbee, a professor at the University of Chicago and former prime minister Obama. it preserves the people and opposes the participation of the state. “
McCarthy, a senior Republican at the House of Representatives, issued a statement saying Biden was “not solving the problem, but making innovations”.
“As long as President Biden ceases to double his ideology of tax evasion and money laundering, unless he works with Republicans to rebuild our economy, his age-old ideology will continue to haunt the American people,” he added.
Many economists, who have been shocked by their return to work, say they expect the figure to remain stable, and a strong U.S. vaccine combined with past spending will help recover in the coming months.
Speaking at the White House on Friday, Janet Yellen, the US secretary general of finance, said he still expects the United States to find all jobs next year, although he acknowledged that recovery could be “painful”.
Democrats and the White House have filed a lawsuit claiming that the measures they will use in the near future will help address the major economic crisis in the past, including participation in the workforce. Among them are declining infrastructure, child care, and education.
Increased laziness may also help to alleviate the worries of economic growth. “I think very few people are worried. And I think there was a lot of information about this, “said Michael Madowitz, an economist at the Center for American Progress, a left-wing thinker.
“The most important thing about this is that the Pollyannish people ‘oh my god is so hot’ seem stupid right now.”
But Republicans and lawmakers should be a warning to the White House that its policies are more important in promoting the value of the labor market than in participating.
“They have to have a financial message that can be very similar to just spending money, spending money, spending money,” said Doug Holtz-Eakin, George W Bush’s former financial adviser to the American Action Forum, think tank. “To get through this package they need to explain how it will help people to work, and help them to do better in the job.”
If there is no consensus with Republicans, the White House and Democrats can continue their plans by using their lightweight capitol on Capitol Hill, but this may require an alliance that could be difficult to achieve.
“The evidence is clear that the economy needs immediate action and Congress will not be delayed or delayed in providing funding for social change,” Pelosi said.