It is up to the federal government to make sure America embraces rapid technological change in a way that is “positive for as many of our citizens as possible,” said Rep. John Delaney (D-MD).
In an interview with Cheddar, the Congressman said he doesn’t believe such progress is a threat to the labor market.
“Innovation generally creates more jobs than it displaces,” said Delaney. “But the problem is oftentimes the jobs that get created by innovation are not located in the same places where the jobs that were displaced are located.”
He pointed out that 80 percent of venture capital in this country goes to just California, New York, and Boston, which means that innovation and job creation is highly concentrated in and around those places.
“I think that will continue unless policymakers do things to make sure more of our country has the opportunity to have people invest in their communities and kind of benefit from this innovation.”
Delaney founded the A.I. Caucus to do just that. Comprised of lawmakers from both sides of the aisle, the group strives to work with the private sector to come up with policy ideas that can help the country keep up with technological change.
“I just want to make sure we don’t leave huge parts of the country behind,” he said.
The number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market’s strong recovery from the coronavirus recession last year.
The Biden administration is extending a student loan moratorium that has allowed tens of millions of Americans to put off debt payments during the pandemic.
President Joe Biden plans to deliver 500 million free COVID-19 tests to Americans, increase support for hospitals and expand the availability of vaccines to confront a winter surge of coronavirus cases driven by the fast-spreading omicron variant.
Former deputy assistant U.S. Secretary of State Joel Rubin joined Cheddar to break down the latest dispute between G7 nations and Russia as its increased military buildup along the Ukrainian border drew stern warnings of "massive consequences" should an invasion occur. "If Putin wants to keep on going further, there will be many tools that the financial system can use against him, and the United States, now, is gathering our allies in a way that is really unprecedented," he said.
Carlo and Baker cover the latest developments after a devastating tornado outbreak over the weekend, plus an eye on Omicron and inflation, and not even Spielberg can save the box office.
Airline executives faced tough questions from Congress on Wednesday, with the Senate panel grilling top CEOs on how they used that $54 billion Covid-19 government lifeline.
This hearing comes as airlines continue to face staffing shortages and widespread delays. Jason Ader, Leisure Analyst and CEO of SpringOwl Asset Management joined Cheddar's Opening Bell to discuss.
