ECB President Christine Lagarde Blames Less Focus On Job Retention During COVID For High U.S. Inflation

$upport via Cash App

European Central Bank President Christine Lagarde appeared for an interview on CBS’ Face The Nation(04/24/22) to discuss the current global inflation brought about by covid and the Russsia-Ukraine war. During her interview, President Lagarde made an interesting observation, telling host Margaret Brennan that inflation is higher in the U.S. because unlike Europe, the U.S. focused more on issuing covid stimulus/relief checks than on job retention. Europe’s primary focus during covid was on job retention. She said the resultant labor shortage in the U.S. is driving up wages, which are in turn, driving up costs. Hmm, interesting.

Host Margaret Brennan(video at 4:53):“In this country there’s a lot of debate around how much the government is to blame versus the central bankers for the inflation that we are experiencing. The U.S. spent $6 trillion on covid relief, $2 trillion of it on President Biden’s watch last Spring when the economy was already recovering. Do you think some of this spending in the U.S. exacerbated inflation, because Europe didn’t spend like this?”

President Lagarde:“We in Europe spent less in stimulus, and I think we spent differently. We spent pretty much half as much as what the U.S. government spent on stimulus, and heating up the economy. But we also spent differently because I think the focus was predominantly on keeping the jobs, not necessarily sending the checks, and as a result of that, people who managed to keep their jobs alive, while not necessarily going to work because covid stopped everybody from going to work at some point in time, they had their job. So when covid was over, they went back to their job. So, I think that the labor market that you have currently in the U.S., which is incredibly tense, where you have a lot of jobs that are not filled, where you have plenty of vacancies, we don’t have that in Europe at the moment, and the current situation you have on the labor market here in the U.S. is clearly contributing to possible strong inflation and second round effect, where prices go up, wages go up, short supply of labor, wages continue to go up, and that feeds back into prices. That’s one of the differences between our two economies.”

There’s no other way to interpret ECB President Lagarde’s remarks other than(I’ll be happy to stand corrected of course), the current strong inflation in the U.S. is largely driven by the fact that the government did not do enough to help people keep their jobs during covid. In other words, even though a lot of people could not physically go to work during covid, more should have been done to make sure their jobs would still be there for them after the pandemic–propping up their employers to keep them afloat. According to President Lagarde, this is precisely what Europe focused on–propping up the employers, and is the reason Europe is not seeing the high levels of inflation as the U.S.

For the record, this does not mean Europe did not hand out covid stimulus/relief checks to workers like the U.S. did. What President Lagarde is saying is that the primary focus in Europe was job retention. It’s also worth pointing out for the sake of fairness, that the entire U.S. covid response, and the resultant high inflation, cannot be pinned solely on the Biden administration. Reasonable people will agree that the Trump admin is equally to blame.

For those of you very happy with @Emolclause’s activism don’t shy away from the “tip jar” below on your way out. You may also Cash App

You may reach the author via email at administrator@grassrootsdempolitics.com or author@grassrootsdempolitics.com

Pressure Mounting On GOP Senator Mike Lee To Come Clean Over His Role In Overturning 2020 Election

$upport via Cash App

Interesting segment on MSNBC’s Rachel Maddow show(04/19/22) looked into the intense pressure building on Senator Mike Lee(R-UT) from his hometown newspapers, for him to come clean over his involvement with efforts to assist former President Trump to overturn the 2020 elections, and specifically, his role in the fake electors scheme. As Maddow correctly pointed out, public statements attributed to Sen Lee regarding Trump’s efforts to overturn the 2020 elections are in stark contrast with his newly released private text messages, which clearly show his deep involvement with the fake electors scheme.

It appears Sen Lee’s hometown newspapers have seized on this glaring discrepancy between public “constitutional conservative” Mike Lee, and private insurrectionist Mike Lee, and are demanding that the Senator finally come clean about his involvement with Trump’s efforts to overturn the 2020 elections. The newspapers have zeroed in on the Utah State Republican Convention scheduled for Saturday(04/23/22, for Sen Lee to finally come clean about this issue.

Maddow referenced an editorial from a leading Utah newspaper(video at 4:15): “Just today, the Salt Lake Tribune has released a new editorial under this headline, Saturday’s Utah State Republican Convention would be a great place for Mike Lee to come clean…It’s past time for Mike Lee to start fessing up to all he knows about the plot to set aside the results of an honest and fair election in order to keep Donald Trump in power. We know Utah’s Senior Senator had a much greater role in that plot than he has previously acknowledged. His constituents deserve a much more detailed accounting of what went on and the extent of Senator Lee’s participation in it. Yesterday would be a great time for Senator Lee to come clean. Saturday’s State Republican Convention would be a really good opportunity for that too.”

Bottom line folks, it is very encouraging to see the media in Utah pressuring Senator Lee to come clean about his involvement with Trump’s efforts to overturn the 2020 election. To date, there has been been very little individual accountability for members of Congress who were clearly involved in Trump’s illegal efforts to overturn the 2020 elections and hopefully, this is the beginning of some much overdue reckoning for members of Congress. It would be great if Texas newspapers would also inquire into whether public “constitutional conservative” Ted Cruz was likewise, a private insurrectionist.

For those of you very happy with @Emolclause’s activism don’t shy away from the “tip jar” below on your way out. You may also Cash App

You may reach the author via email at administrator@grassrootsdempolitics.com or author@grassrootsdempolitics.com.com

Handy List Of The 20 GOP Senators Up For Reelection In 2022

$upport via Cash App

The 2022 midterm elections are fast approaching and Democrats cannot afford to lose both the House and the Senate to the GOP. Midterm elections traditionally favor the party out of power, so it’s reasonable to assume that Republicans have a good shot of recapturing both the House and the Senate in 2022. Recapturing the House especially favors Republicans given the fact that Republican-controlled states currently have an advantage when in comes to redistricting–they can add/redraw more congressional districts than Democrats.

Democrats however, cannot afford to lose the Senate, which is not affected by the redistricting process. If Democrats lose both the House and Senate in 2022, the Biden presidency will for all intents and purposes be over–at least until the 2024 general elections. Republicans are already abusing the filibuster to stifle President Biden’s legislative agenda, even without control of either chamber (House or Senate), so one can just imagine how reckless they will be, if they take over both the House and the Senate in 2022. Simply put, they will block all of President Biden’s legislative proposals and judicial nominations until the 2024 elections. The upcoming 2022 elections are therefore crucially important for the Biden-Harris agenda.

34 U.S. Senate seats are up in 2022. Out of these 34, 20 are currently held by Republicans, and 14 by Democrats. The map below gives a breakdown of the states where the 34 Senate elections will be held in 2022.

Republican Senators whose seats are up in 2022 include Richard Shelby(AL), Roy Blunt(MO), Rob Portman(OH), Pat Toomey(PA), Richard Burr(NC)–all of whom are retiring(open seats)–plus Lisa Murkowski(AL), Marco Rubio(FL), John Boozman(AR), Mike Crapo(ID), Todd Young(IN), Chuck Grassley(IA), Jerry Moran(KS), Rand Paul(KY), John Neely Kennedy(LA), John Hoeven(ND), James Lankford(OK), Tim Scott(SC), John Thune(SD), and Mike Lee(UT), Ron Johnson(WI)

Democrats are Mark Kelly(AZ), Alex Padilla(CA), **KDH SEAT, Michael Bennet(CO), Richard Blumenthal(CT), Raphael Warnock(GA), Brian Schatz(HI), Tammy Duckworth(IL), Chris Van Hollen(MD), Catherine Cortez Masto(NV), Maggie Hassan(NH), Charles Schumer(NY), Ron Wyden(OR), Patrick Leahy(VT) and Patty Murray(WA).

The U.S. Senate is currently tied at 50 Democrats and 50 Republicans so neither party can afford to lose a seat in 2022. Democrats have a good shot at picking up the open Pennsylvania seat, where incumbent Republican Pat Toomey is retiring. President Biden won Pennsylvania in 2020. Based on a recent Iowa poll showing unfavorable numbers for incumbent Republican Senator Chuck Grassley, the Iowa Senate seat may also be a potential pickup for Democrats. These two pickups for Democrats, would make up for the two Senate seats where they have the biggest vulnerability–Warnock’s Georgia seat, and Mark Kelly’s Arizona seat. While President Biden won both Georgia and Arizona in 2020, these two states have traditionally voted Republican in statewide elections.

Bottom line folks, even though the game plan for Democrats heading into the 2022 elections should be to retain both the House and Senate, special emphasis must be placed on retaining the Senate. Simply put, if the Biden-Harris administration is to survive beyond 2022, Dems must retain the Senate.

For those of you very happy with @Emolclause’s activism don’t shy away from the “tip jar” below on your way out. You may also Cash App

You may reach the author via email at administrator@grassrootsdempolitics.com or author@emolumentsclause.com