The most talked-about moments during this year's Democratic National Convention and the Republican National Convention can be found on Twitter. But you won't find political ads.
"We had a long conversation and the decision was that political reach should really be earned," Twitter's vice president of policy and philanthropy in the Americas Jessica Herrera-Flanigan told Cheddar. "It shouldn't be bought."
In October 2019, Twitter CEO Jack Dorsey announced Twitter would ban all political ads. In several tweets, Dorsey explained machine-learned targeting, message optimization, misleading information, and manipulated media made it too easy to sway elections — not to mention the fact the candidates with the most money were often the most heard online.
"We wanted to level the playing field, and not make it about who was able to buy the most ads, especially when we know that Internet advertising was especially effective, and political ads, they present entirely new challenges to civil discourse around the elections," Herrera-Flanigan explained.
Though Twitter often hosts spirited political debates, it actually made very little of its revenue from political ads. Twitter's CFO Ned Segal said it made about $3 million from political ads during the 2018 midterm election cycle. For comparison, it made $683 million last quarter in total advertising revenue.
The decision to take a stand by blocking political dollars has put the company in the spotlight. President Donald Trump's campaign, which has been critical of the decision in the past, said it's a bad business decision and will "silence conservatives."
Herrera-Flanigan pointed out you can still talk about politicians on Twitter, but it's the natural conversations, that aren't paid for, that you'll see. The most tweeted about people during the DNC were Joe Biden, Michelle Obama, and Bernie Sanders, while the RNC's most tweeted about speakers were Donald Trump, Mike Pence, and Nikki Haley. The most tweeted moment during the DNC came about as Michelle Obama ended her speech, while the RNC's occurred during Donald Trump Jr.'s address.
"You have individuals now who can get on and speak, and provide their voices," she said. "There are so many different voices out there and rather than being a platform where only those people who could afford political ads can get on it, Twitter's a place where people who have something to say — politicians who have something to say — can get on the service and say it."
Further stepping into controversial territory, Twitter is also urging people to register to vote early, as well as file absentee ballots. It has been working with local election officials to address their needs, Herrera-Flanigan said President Trump has fought such moves by claiming mail-in ballots have high levels of fraud, which includes his accusation during the RNC that ballots could be sent to Democratic areas and not Republican areas. The FBI has stated there is no evidence of plans to manipulate election results through the mail this cycle.
"We are taking a strong stance on just trying to get everyone who's eligible to vote to register and vote, whatever mechanism that is and in a way that's safe," Herrera-Flanigan said.
Following the surprising big beat on estimates for the January jobs report, William M. Rodgers III, vice president and director of the Institute for Economic Equity at the Federal Reserve Bank of St. Louis, joined Cheddar News to break down the data. “We ended 2021 with a strong crescendo to a recovery that had taken hold, and we started 2022 in good fashion." He also discussed the dueling pressures of wage growth and inflation.
Jessica Mason Pieklo, senior vice president and executive editor of the Rewired News Group and co-host of the podcast. "Boom! Lawyered," joins Cheddar Politics to discuss Justice Stephen Breyer's retirement, legacy and potential replacement on the Supreme Court.
The Biden administration delivered a temporary win for student loan borrowers this year by extending the moratorium on federal payments for a few more months. That moratorium is coming to an end on May 1st and borrowers will again have their monthly loan payment plopped in their lap.
Stephanie Vanderslice, a creative writing professor paying off debt through the Parent Plus program, and Mike Pierce, executive director of the Student Borrower Protection Center, join Cheddar Politics to discuss.
2022 was already going to be a big year for the Supreme Court. We have decisions on major issues like abortion and gun rights on the way. Then, Justice Stephen Breyer announced his retirement and that set up a major confirmation fight for later this year. Amy Howe, co-founder of SCOTUSblog, joins Cheddar Politics to discuss.
The Labor Department released a better-than-expected report of 467,000 jobs added in January. Heather Boushey, Council of Economic Advisers Member for President Biden, joined Cheddar to tout the administration's handling of the economy amid the pandemic and the upward revisions for the previous month. "It also shows that, because of the revisions, the economy was stronger over the past couple of months," she said. "I don't think that this can be said enough, but economic forecasting during an historic pandemic is extremely difficult." Boushey also addressed issues involving wage growth versus the rapid rise of inflation.
The Labor Department's January jobs report showed 467,000 jobs were added, compared to the 150,000 that were projected, a sign that employment is continuign to return to pre-pandemic levels. Lindsey Piegza, chief economist at investment bank Stifel, joined Cheddar to break down the report, noting the big gains but adding a note of caution. "Remember, even with this morning's stellar report, we're still millions below that level that we had reached prior to the onset of COVID-19," she said." Yes, we are recapturing jobs. We still have further ground that needs to be made before we can talk about reaching that previous peak." Piegza also discussed the role of the Federal Reserve going forward as the employment figures turn more positive.
As President Biden's poll numbers fall with Black voters, Rep. Ayanna Pressley (D-Mass. 7th District) joined Cheddar to discuss what she feels could help the embattled administration: deliver on policies. Pressley pointed to stalled legislation such as new voting rights laws and Build Back Betters and canceling student loan debt, which would go a long way to improving his standing with Black constituents. "President Biden has the authority and the power to alleviate this burden, which would also help in closing the racial wealth gap, and he can do it by executive action with the stroke of a pen," she said. "And it doesn't require one vote from Congress. So, the Biden administration just needs to deliver to Black America in a tangible and impactful way."
