Minimum wage may not go up, but expect stimulus checks in April

Minimum Wage May Not Go Up, But Expect Stimulus Checks In April | US Politics :60 | GZERO Media

Jon Lieber, Managing Director of the United States for the Eurasia Group, shares his insights on US politics in Washington, DC:

Is the minimum wage going to $15 an hour?

Probably not. The House of Representatives did include it in the stimulus bill that they're going to pass as soon as next week, but when it gets over to the Senate it's likely to either be stripped out altogether because of a provision of the reconciliation process known as the Byrd Rule, or you could see some moderate Senate Democrats try to push a compromise measure which would raise the minimum wage from $7.25 an hour to something closer to $10 or $11 an hour.


$15 an hour minimum wage at the federal level was considered unthinkable just five years ago, but since that time you've seen a lot of states and many cities adopt $15 an hour as a minimum wage. However, for a lot of rural areas of the country where wages tend to be lower, $15 an hour is considered quite expensive for a number of small businesses. So, you've got the senator from Arizona, Kyrsten Sinema, and the senator from West Virginia, Joe Manchin, who remain opposed and may try to push a compromise if they can get it through the procedural hurdles.

When will my stimulus check get here?

Probably in mid-April. If you are one of the Americans who's filed your taxes electronically with the IRS, they have your bank account information on file. And as soon as the Biden stimulus plan passes, which we think will happen probably sometime early March, it'll take Treasury a couple of weeks to get the systems up and running, get those checks out the door. You should see a nice little bonus payment in your pay in your bank account in April.

Does anyone care about the federal deficit?

With President Biden and most congressional Democrats rallying around $1.9 trillion in new deficit finance stimulus this year, that'll bring the total of deficit finance stimulus to about $5 trillion over the last 12 months, which is roughly a quarter of the US economy. Again, unthinkable amounts of money that could never have happened in a previous political era. But when the US government is borrowing around 1% on the 10 year note, that gives a lot of fiscal space for Congress to reply to the emergency of the coronavirus in unprecedented ways. Politics here could shift, however, this year. The Republican party is back in the minority, and as the opposition party, they successfully made a big deal out of the deficits that were being run up early in the Obama administration and came into power on the Tea Party wave as a result. We'll see if that evolves this year. I think the politics really have shifted over the last 10 years with the Fed providing easy money and no inflation in sight.

Empowering minority-owned businesses in 2022

https://ad.doubleclick.net/ddm/trackimp/N6024.4218512GZEROMEDIA/B26379324.311531246;dc_trk_aid=504469522;dc_trk_cid=156468981;ord=[timestamp];dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=?
A woman of color smiling as she uses a tablet

One of the keys to accelerating financial inclusion and building a more equitable digital economy is to enable minority-owned businesses to scale. And one of the fastest ways to do that is through partnerships with a global network like Visa. At the Visa Economic Empowerment Institute (VEEI), we’re committed to providing research and insights on important issues related to inclusive economic policy. Our reports cover topics like what women-owned businesses need to unlock growth and how to empower Black and Brown-owned banks. Read more of our latest stories here.

Does the EU really have a foreign policy?

For decades, European leaders have debated the question of whether Europe should have a common foreign policy that’s independent of the United States.

Germany, the UK, and countries situated closest to Russia have traditionally preferred to rely on membership in NATO and US military strength to safeguard European security at a cost affordable for them.

French leaders, by contrast, have argued that, with or without NATO, Europe needs an approach to foreign-policy questions that doesn’t depend on alignment, or even agreement, with Washington.

There are those within many EU countries who agree that Europe must speak with a single clear voice if the EU is to promote European values and protect European interests in a world of US, Chinese, and Russian power.

More Show less
The politics of US crime: Perception vs reality

A recent spate of violent crimes in New York City has made national headlines. Since Eric Adams was sworn in four weeks ago as mayor of America’s most populous city, violence on the streets — and the subways — has again become a major political focus. Things got even more heated this week, when two young cops were killed while responding to a domestic dispute in Harlem.

Crime is not only a dominant political issue in New York. It also resonates more broadly with American voters worried over increased lawlessness and unrest. Indeed, crime is already shaping up to be a wedge issue as Republicans vie to win control of the US Congress this November.

More Show less
Hard Numbers: South China Sea jet search, US economy surges, Cuban protesters charged, Africa gets vaxxed

FILE PHOTO of a F-35C Lightning II, assigned to the Argonauts of Strike Fighter Squadron (VFA) 147, launches off the flight deck of Nimitz-class aircraft carrier USS Carl Vinson (CVN-70) on Jan. 14, 2022.

U.S Navy/EYEPRESS

100 million: The US Navy is scrambling to find a $100 million F-35 stealth fighter jet that crashed and sank soon after taking off on Monday from an aircraft carrier in the South China Sea. One expert described the Cold War-ish race to locate the remains — stocked with classified equipment — before the Chinese do as "basically The Hunt For Red October meets The Abyss."

More Show less
The logo of the Nord Stream 2 gas pipeline project is seen on a pipe at the Chelyabinsk pipe rolling plant in Chelyabinsk, Russia, February 26, 2020.

Nord Stream 2 used as a bargaining chip with Russia. The US now says that if Russia invades Ukraine, it’ll block the Nord Stream 2 pipeline, which is set to transfer even more natural gas from Russia to Germany under the Baltic Sea. This is a big deal, considering that Germany – thirsty for more Russian gas – has long been pushing for the pipeline to start operating despite ongoing objections from Washington. The $11 billion energy project, which would double Russian gas exports to Germany, is seen as (a big) part of the reason why Berlin is reluctant to push back hard against the Kremlin over its troop buildup at the Ukrainian border. Still, German officials admit Nord Stream 2 could face sanctions if the Russians invade, suggesting that the Americans’ threat was likely coordinated with Berlin in advance. This comes amid ongoing diplomatic attempts to de-escalate the Ukraine crisis, with US President Joe Biden and German Chancellor Olaf Scholz set to meet at the White House on February 7.

More Show less
Putin Has a “Noose” Around Ukraine, Says Russia Analyst Alina Polyakova | GZERO World

What’s going on in Vladimir Putin’s mind? That’s the million-dollar question.

Ukraine and Russia analyst Alina Polyakova doesn’t think it’s anything good.

Russia's president, she says, has put a “noose” around Ukraine with a troop build-up along the border that could spell invasion in the near term. The US has led an effort to deescalate the situation through diplomacy.

More Show less
The AI Addiction Cycle | GZERO World

Ever wonder why everything seems to be a major crisis these days? For former Google CEO Eric Schmidt, it's because artificial intelligence has determined that's the only way to get your attention.

What's more, it's driving an addiction cycle among humans that will lead to enormous depression and dissatisfaction.

"Oh my God there's another message. Oh my God, there's another crisis. Oh my God, there's another outrage. Oh my God. Oh my God. Oh my God. Oh my God," he says. "I don't think humans, at least in modern society where [we’ve] evolved to be in an 'Oh my God' situation all day."

More Show less
Merkin' It With Angela Merkel | PUPPET REGIME | GZERO Media

Angela Merkel is retired — but only from politics. Still, maybe she's not as good at other jobs as she was as German chancellor.

Watch more PUPPET REGIME!

Subscribe to GZERO Media's YouTube channel to get notifications when new videos are published.

Subscribe to GZERO Media's newsletter, Signal

GZEROMEDIA

Subscribe to GZERO Media's newsletter: Signal

The AI addiction cycle

GZERO World Clips

GZEROMEDIA

Subscribe to GZERO Media's newsletter: Signal