The Trump administration is showing optimism as the June jobs report, released Thursday, revealed the U.S. added a better-than-expected 4.8 million jobs last month. The boost in jobs followed another unexpected addition of 2.7 million in May.
"Combined, the two months, we surpassed expectations by more than 11 million jobs," Tyler Goodspeed, the acting chair of the White House Council of Economic Advisors, told Cheddar.
Since the coronavirus pandemic forced widespread shutdowns across the country in March, more than 50 million people have applied for unemployment benefits. Today's numbers signal that companies in some areas are getting back to business.
"I do think that this really is a testament to not only the resilience of the American economy but also to the unprecedented scale and speed of the response of the federal government," said Goodspeed.
While Goodspeed acknowledged that the number of Americans who are still out of work is concerning, he said there is a lot to consider before implementing a Phase 4 stimulus package.
"The president is definitely interested in exploring the possibility of a payroll tax cut and also protecting businesses against exorbitant liability for COVID-related, non-economic damages," the advisor said.
While Goodspeed said he could not comment on efforts to extend the small business loan program, he did say the White House is examining the pandemic unemployment assistance program, which provides an additional $300 to $600 to weekly unemployment benefits. It is set to expire at the end of July.
"I think the unprecedented measures to expand access to unemployment insurance and to expand those benefits was important for mitigating that loss [of incomes]," he said. Now the administration is "carefully reconsidering whether we're striking the right balance between income replacement and making sure that we don't have high implicit tax rates on work."
Andrew Cuomo is reportedly planning his comeback. According to the Wall Street Journal, the former New York governor and his aides are considering how to make his first public appearance since he abruptly resigned last August amid sexual harassment allegations. Jake Lahut, politics reporter for Insider, joined Cheddar's Opening Bell to discuss Cuomo's potential return to politics.
The pressure is on for UK Prime Minister Boris Johnson - after his closest aides handed in their resignations this week.
It comes after a report found that 16 parties had taken place at Downing Street while Covid lockdown protocols were in place in the region. Ari Aramesh, Attorney & National Security/Foreign Policy Analyst joined Cheddar's Opening Bell to discuss.
President Biden has ordered about 3,000 U.S. troops to Eastern Europe as Russia refuses to back off its pressure on Ukraine. The deployments to Poland, Germany, and Romania are a show of support to NATO allies concerned about a potential Russian invasion of Ukraine. This is in addition to the 8,500 troops put on high alert. David Tafuri, former Obama campaign foreign policy advisor and former State Department official, joined Cheddar to discuss what this move means for U.S.-Russia relations.
After tennis player Peng Shuai made an explicit sexual assault allegation toward a former Chinese government official, she disappeared from the public eye. Her recent reappearance with the IOC alongside a Chinese Olympic committee official raised eyebrows and renewed concerns for her safety. Asian affairs expert Gordon Chang, author of "The Coming Collapse of China," joined Wake Up With Cheddar to discuss Peng Shuai's retraction and the various human rights controversies swirling at the Beijing games. "It's clear that the IOC was working with Beijing to make sure that she did not express herself freely," Chang said. "So really this is the IOC being complicit in these mechanisms of control over Peng."
The opening ceremony of the 2022 winter Olympics has kicked off at the Beijing national stadium. 150,000 spectators are in attendance for the games inside the 'closed loop' system separating Olympic personnel from the public. Cheddar News spoke with Brian Cazenueve, Sports Illustrated contributor, to share the highlights you may have missed and much more.
The Biden Administration is set to revise federal rules to address potential security risks from foreign-owned apps, mainly Tiktok. This comes after the White House opted not to pursue a forced shutdown of the Chinese-owned video sharing platform. Under these new rules, federal oversight would be expanded to explicitly include apps that could be used by foreign adversaries to steal or otherwise obtain data. Senior Fellow at the Foundation for Defense of Democracies, Craig Singleton, joined Cheddar to discuss more.
Although this week's weather is predicted to be less severe than the 2021 storm, Texans are preparing for the worst - stocking up on supplies and emptying shelves in grocery stores, once again. Some Texans still have not recovered from last year's tragedy, and are heading into the next few weeks with anxiety for what's to come. Leslie Beyer, CEO of the Houston-based energy workforce & technology council, joins Cheddar News to discuss if the Texas grid will fail again.
Student loan debt continues to be a major concern for tens of millions of Americans who collectively owe about $1.7 trillion. Black college students often take on larger amounts of student debt in order to pay for a higher education. In turn, they are more likely to struggle post-graduation with repaying their debt, creating a racial wealth gap divide. Andre Perry, senior fellow at Brookings Institution joined All Hands to help break down the black student debt crisis.
After two NYPD officers were killed with an illegal gun, President Biden made a trip to New York City to speak on the issue of gun violence fed by the "iron pipeline" of illegal firearms that make their way from the South to the Big Apple. Kris Brown, the president of the gun violence prevention organization Brady United, joined Cheddar to discuss what this visit from the president could mean for the future of gun laws in America. "He's asked Congress to pass things like expanding the Brady background check system, but with the filibuster a barrier to so much action right now in the Congress, he's looking at solutions that involve funding at the federal level and really involve enforcement."
