ECONOMY

US Economic Growth Continues To Lead The World, Despite Perceptions To The Contrary

2024 first quarter figures are out, and. with President Joe Biden’s continued stewardship, the US economy continues to lead the world. The chart on this page shows that the US economic growth outstrips the EU, China, and all other major economies. The US recovery from Covid-19 also dramatically outpaces that of the rest of the major economic powers, many of which are showing negative growth over the last few years.

ECONOMY EXECUTIVE ACTION JOBS

With Help From The Biden Administration, Workers At Georgia School Bus Manufacturer Approve First Union Contract

With the help of President Joe Biden’s acting Labor Secretary Julie Su, union members approved a labor contract with Blue Bird Corp. From ABC News :”The union said the contract will provide all 1,500 covered workers with at least a 12% raise, with some of the lowest-paid workers getting raises of more than 40%. The union says the company will contribute to a retirement plan for workers, share profits, and improve health and safety.”

CLIMATE ACTION/ENVIRONMENT ECONOMY EXECUTIVE ACTION HEALTH CARE INFRASTRUCTURE LEGISLATION

Biden Provides Pennsylvania $16.7 Billion In Infrastructure, Clean Energy, and Affordable Housing, Among Many Other Initiatives

President Joe Biden has directed nearly $17b in funding to the Keystone State for energy conservation, clean water, more affordable medications, improved roads and bridges, better internet connectivity, and may more areas. “Infrastructure Week may have been a punchline but no more,” White House Deputy Chief of Staff Natalie Quillian said on a conference call with reporters.

CLIMATE ACTION/ENVIRONMENT EXECUTIVE ACTION

Biden Moves To End Coal Leasing In Nation’s Top Coal Mining Area

President Joe Biden’s Bureau of Land Management has issued rulings ending new coal leasing in the nation’s most productive coal mining area, the Powder River Basin of Wyoming and Montana. The move should keep 6 billion tons of highly polluting coal in the ground. “This is a monumental decision that will save lives, safeguard our environment, and significantly cut carbon emissions in the United States,” said Drew Caputo, vice president of litigation for lands, wildlife, and oceans at Earthjustice.

AMERICAN RESCUE PLAN EDUCATION

The American Rescue Plan Continues To Reap Benefits For Education

Passed early in 2021, President Joe Biden’s American Rescue Plan set aside $170 Billion for education, the largest investment in education in US history. The results so far have been encouraging. Hundreds of millions of dollars have gone to upgrading buildings where air conditioning was faulty, teachers’ unions have a greater say in how moneys are spent, dramatically more education support personnel have been hired (bus drivers, food service workers, other para-educators), mental health support for students, increased diversity in our teaching ranks — these are a few of the areas where the ARP has had a siginficant effect on our education system.

ECONOMY JOBS

Stock Markets Hit All Time Highs Again May 15, 2024

Despite GOP predictions of recession and other economic disasters, all three major indices, the Dow 30, NASDAQ, and the S&P hit all-time highs this week. While it is true that the stock market is not the true measure of the economy, first of all, it’s certainly better for it to be up than down, and, second, much of the boost in the last few days is on the news of the cooling inflation. With unemployment under 4% nationally for the last 27 months, and wages rising faster than inflation for the last year, the economy is strong across the board.

BIPARTISAN INFRASTRUCTURE LAW CLIMATE ACTION/ENVIRONMENT ECONOMY EXECUTIVE ACTION INFRASTRUCTURE JOBS

Biden Brings Nevada and California $3 Billion In Funding For The Rail Line Connecting The Los Angeles Area With Las Vegas

President Joe Biden secured $3 Billion in funding for the high-speed rail connecting Los Angeles with Las Vegas. It will be a 2 hour ride from Rancho Cucamonga in the Inland Empire to Las Vegas. He also announced $3 Billion in funding for the rail line that could ultimately connect Los Angeles and San Francisco, currently being built in the California Central Valley. The train to Las Vegas will alleviate frequent traffic problems and reduce carbon emissions, increasing access to Vegas.

CHIPS AND SCIENCE ACT ECONOMY JOBS

Biden Announces $8.5 Billion Investment In Chip Manufacturing, Heavily Weighted Towards Arizona

President Joe Biden announced his $8.5 billion investment in Intel chip manufacturing plants, courtesy of the CHIPS and Science Act. This investment, along with many others like it, will create high paying jobs (many without the need of a college education) in Arizona and elsewhere. It is also part of the long term solution to the supply chain problems the US suffered at the beginning of Biden’s presidency.

BIPARTISAN INFRASTRUCTURE LAW CLIMATE ACTION/ENVIRONMENT EXECUTIVE ACTION INFLATION REDUCTION ACT LEGISLATION

Biden Has Taken More Climate Action Than Any President In History

The recently released Climate Powers Memo states the President Joe Biden has taken over 300 climate actions, the most in history. The Center For American Progress details the many ways Biden has taken strong action to protect the enviromment and address the climate crisis, many of which have appeared on this website previously.

While I generally avoid discussing the previous president, it is important to note that Donald Trump has recently asked oil executives for $1b in campaign contributions, and, in exchange, those executives have begun drafting executive actions that would, among other things, roll back as many of Biden’s actions as possible. The contrast is clear.

BIPARTISAN INFRASTRUCTURE LAW CHIPS AND SCIENCE ACT ECONOMY JOBS

Biden Celebrates $3.3 Billion Investment By Microsoft In AI Data Center In Wisconsin

President Joe Biden took a moment to announce the investment by Microsoft for a facility to be built on the failed FoxConn site the previous president promised would be the 8th wonder of the world, but never materialized. Microsoft president Brad Smith told the crowd that Biden’s policies, especially the Bipartisan Infrastructure Law and CHIPS and Science Act, helped make this investment possible. It is expected to create thousands of jobs and train 100,000 Wisconsonites in AI technologies for future job opportunities.

EDUCATION EXECUTIVE ACTION SOCIAL JUSTICE STUDENT LOANS

The Biden Administration Forgives An Additional $6.1 Billion In Student Loans From Shuttered For-Profit Universities

President Joe Biden continues to deliver loan justice for defrauded students. This time, it is The Art Institutes, a private art school system that shut down last year. President Biden said, in a statement, “This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies.” The relief averages around $19,000 per borrower. This latest round of student loan forgiveness brings the total approved by the Biden Administration to almost $160 billion for nearly 4.6 million borrowers, an average of nearly $35,000 per student.

ECONOMY EXECUTIVE ACTION JOBS

MIllions Of Workers Will Qualify For Overtime Starting July 1, 2024, And Millions More On January 1, 2025

President Joe Biden’s Department of Labor has released a rule that will increase the amount of salary a worker can earn and be eligible for overtime pay. Currently, if you earn more than $35,568 (less than $3,000 per month) as a salaried worker, you are not eligible for overtime pay. As of July 1, 2024, that number will be $43,888, and, as of January 1, 2025, the salary threshold below which you are entitled to overtime after 40 hours of work in a week will be $58,656. After that, starting January 1, 2027, the rate will be adjusted every 3 years. This new rule is expected to affect approximately 4 million workers.

ECONOMY JOBS

Job Growth Continues, While Slowing, As Hoped For By The Federal Reserve

The April jobs report is out, and it is what the Fed was hoping for. Job growth continues under President Joe Biden, but has slowed a bit more than expected. The economy added 175,000 jobs in April, keeping that number well over 15 million jobs added under the Biden Administration. The unemployment rate rose to 3.9%, making it 27 straight months of unemployment under 4%, the longest stretch of sub-4% unemployment in over 50 years. With unemployment low and wages rising faster than inflation, the benefits of the Biden economy are being felt across America. This was precisely the news the Fed is looking for to help keep inflation down as it looks for opportunities to cut rates.

CANNABIS EXECUTIVE ACTION HEALTH CARE SOCIAL JUSTICE

Biden’s DEA Will Move To Reclassify Cannabis As A Less Restricted Drug After Over 50 Years Of Being On Schedule 1

True to his word, President Joe Biden is moving the DEA to take cannabis off of the most restricted drug list — Schedule 1 — and moving it to Schedule III. This move would make it easier to research the effects of cannabis, and would federally recognize and decriminalize its medical use. It will also clear federal resources to deal with actual serious drugs like fentanyl. Should cannabis be legal? Of course. But, this is the biggest federal step in that direction in over 50 years.

CLIMATE ACTION/ENVIRONMENT EXECUTIVE ACTION

The Biden Administration Announces New Rules To Strengthen The Protection Of Public Lands

President Joe Biden has finalized a new rule for public land management that puts the concept of conservation on equal footing with those attempting to drill for oil or graze cattle, among other things, on public lands. The Bureau of Land Management currently has over 380,000 square miles under management. This rule changes the BLM from “industry friendly” to a more balanced approach to land management.

ECONOMY EXECUTIVE ACTION JOBS SOCIAL JUSTICE

President Biden Fires Anti-Labor General Counsel Of The NLRB On Day 1 Of His Administration

Today is May Day, also known as International Workers Day! On January 20, 2021, President Joe Biden asked for the resignation of Peter Robb. When Robb refused, he fired him. Robb was famously anti-union and was appointed by the previous president. His anti-union bonafides go all the way back to litigating against the Air Traffic Controllers under President Reagan, in what was the opening salvo in the war against unions that has gone on for since 1981. As already detailed here, the Biden Administration has made it a priority to reverse that trend.

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