Speaker Ryan's Retirement Is a "Football Captain Quitting Halfway Through"
House Speaker Paul Ryan (R-WI) announced Wednesday he would not seek re-election in November, signaling that Republicans may have a more difficult time maintaining their Congressional majority through the midterm elections.
Ryan’s decision took his Republican colleagues and Democratic opponents by surprise, though he reminded reporters Wednesday he agreed to take up the Speaker’s job in 2015 “reluctantly.”
“I have given this job everything I have,” he said, according to the Associated Press. “We’re going to have a great record to run on.”
Ryan said he decided not to run again to spend more time with his three teenage children, who live in the same Wisconsin town in which Ryan grew up.
He will serve until the end of his term, in January.
His decision not to seek reelection will likely ignite the campaign for his Wisconsin seat and could swell the wave of Republican lawmakers deciding not to run, said Rep. Ruben Gallego (D-AZ).
“When the captain of the football team quits the game halfway through, gives you a good indication of how the rest of the game is going to go,” Gallego told Cheddar. “He knows he’s going to be a minority leader next year.”
“I think Republicans should really be worried about the tsunami that’s coming,” Gallego added.
After Ryan’s announcement, Rep. Dennis Ross (R-FL) announced he would retire after eight terms in the House.
More than 40 Republicans have announced that they won’t run in 2018, either because they’re retiring or seeking other office. Democrats need 24 seats to take back control of the House for the first time since 2011.
Republicans’ chances of maintaining their majority have been hurt by growing voter dissatisfaction and President Trump’s low approval ratings -- around 40 percent in recent polls.
Gallego, who represents Arizona’s 7th district, criticized Trump’s policies, especially his proposed border wall.
Funding for the wall was excluded from the recent $1.3 billion bipartisan spending bill the president signed, frustrating Trump. Instead, he suggested sending up to 4,000 National Guard troops to the southern border with Mexico, though they will not have the authority to make arrests or “perform law enforcement duties.” The governors of California, Texas, New Mexico, and Arizona have all agreed to send the National Guard.
Gallego criticized the president, saying he was using the National Guard as “a prop” in a political debate.
“There is no emergency,” Gallego said. “There’s no reason you call up the National Guard and call it a crisis, just so you can boost up your poll numbers.”
Last December, the arrests of illegal immigrants trying to cross into the U.S. dipped to the lowest level since 1971.
For the full interview, [click here.](https://cheddar.com/videos/why-rep-ruben-gallego-says-the-game-isnt-going-to-end-well-for-republicans-this-november)
Inflation remains hot as the January PPI has increased by 1 percent, twice what analysts had been expecting with a jump of 9.7 over the year. Beth Ann Bovino, the U.S. chief economist, for S&P Global Ratings, joined Cheddar News to discuss the rapid pace of inflation alongside higher wages, predicting the Federal Reserve will act quickly and forcefully this year. "They haven't changed their forecast, yet, that's gonna come out soon. But we expect that a March rate hike is basically pretty much baked in the cake," she said. "We think six rate hikes in total for 2022."
For black history month, Cheddar is highlighting black business leaders who are driving the need for representation forward. On February 10, the U.S. Chamber of Commerce hosted an event called 'Developing the Black-Owned Business Ecosystem.' The virtual event was organized under the lobbying group's two initiatives -- the Equality of Opportunity Initiative, and the Coalition to Back Black Businesses. The event highlighted the developments needed to develop more black-owned businesses in the U.S. Dr. Anthony Wilbon, Dean of the School of Business at Howard University, joined Cheddar News' Closing Bell to discuss his experience as a speaker at the event.
A newly declassified letter by senators Ron Wyden and Martin Heinrich claimed the CIA. has been conducting a Secret Surveillance Program which has been collecting a bulk of data from American citizens. The letter which was written in April of 2021 urges the CIA to come clean about the kind of data it collects and how many Americans have been impacted. According to these two senators, the program did not have the safeguards of congressional oversight.
Art Hogan, Chief Market Strategist at National Securities, joined Cheddar News' Closing Bell, where he says investors are taking a wait-and-see approach when it comes to the situation between Russia and the Ukraine and elaborates on the impact higher oil prices stemming from the conflict would have on the market.
Last week, Senators Ron Wyden of Oregon and Martin Heinrich of New Mexico, Democrats on the Senate Intelligence Committee, wrote a a letter airing concerns that the CIA is collecting the data of American citizens without their consent. The lawmakers fear that the program might be exploiting private data. Morgan Wright, the chief security advisor at cybersecurity firm SentinelOne, joined Cheddar News to discuss the ramifications of the letter. "We don't have all the dots in one place to connect them," said Wright, cautioning against jumping to conclusions.
Russian President Vladimir Putin and his Foreign Minister Sergey Lavrov said that diplomacy is still possible, while U.S. officials warn that an attack on Ukraine is imminent. Cheddar News speaks with James Astill, Washington bureau chief of The Economist on the latest developments in Eastern Europe.
As the number of Russian troops rose to 130,000 along its Ukrainian border, hopes for a diplomatic solution remain among world leaders. Jason McMann, head of geopolitical risk analysis at Morning Consult, joined Cheddar News to break down the fluid situation. "We saw signs pointing towards an increase in tensions between Ukraine and Russia, whereas today we're seeing some signs that the Russian government may be willing to continue down a path of diplomatic negotiations to try and find some sort of non-military solution," he said.
Nancy Pelosi and House Democratic leaders are now planning to amend the stop trading on congressional knowledge act, otherwise known as the 'Stock' Act. This 2012 law governs how members disclose the purchase or sale of stocks and amending it would close a loophole, eliminating the trading of individual stocks by members of congress. Pelosi has consistently opposed a ban on stock trading by lawmakers and congressional staff...so what's changed? Kedric Payne, Vice President of Campaign Legal Center, joins Cheddar News to discuss.
In a 5-4 vote, the U.S. Supreme Court allowed for a controversial new version of the Alabama congressional map to remain in place. The lower court had previously ordered that the state must redraw that congressional map because it violates the Voting Rights Act by diluting the political power of Black voters. Redistricting expert Yurij Rudensky joins Cheddar News to weigh in.
