International

Biden hammers Republican ‘chaos’ in economic speech

Photo: Andrew Caballero-Reynolds / AFP

January 26 | By AFP |

President Joe Biden said Thursday he will veto any Republican legislation that threatens to sow “chaos” in the US economy.

“I will not let it happen. Not on my watch. I will veto everything,” he said in a speech laying out his economic vision at a Virginia pipe fitters union hall.

Biden said congressional Republicans’ push to block expansion of the nation’s borrowing limit, threatening a US debt default, would spark “chaos” and “pain” for the world’s number one economy.

He described another major Republican economic idea — replacing the income tax with a 30 percent sales tax — as “almost unbelievable” and a gimmick to allow “millionaires and billionaires” to avoid paying taxes.

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The speech, which touted Biden’s promise of a US manufacturing rebirth, laid out the attack lines of the Democrat’s expected 2024 re-election bid.

The president, who at 80 is already the oldest US leader in the nation’s history, has not yet announced whether he will seek a second term.

However, a decision is expected soon and the timing of US economic resurgence from the Covid-19 pandemic shutdowns appears to be working in Biden’s favor.

Only a few months ago, Biden looked deeply vulnerable as the highest inflation in four decades ate into Americans’ savings and salaries, while economists sounded increasingly pessimistic on the prospects of avoiding a recession.

The latest data on Friday showing GDP growth of 2.1 percent in 2022, with a stronger than expected 2.9 percent surge in October to December, gave ammunition to Biden administration officials who argue that they have instead managed to steer the world’s largest economy out of danger.

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Likewise, inflation has been slowly but steadily dropping from highs through six straight months.

Polls show Biden remains unpopular — with only a 42 percent average approval rating. There is lukewarm enthusiasm, even among Democrats, for him to seek a second term, which he would complete at the age of 86.

But with hard-right Republicans holding sway in the House of Representatives and Donald Trump already campaigning to try a comeback in 2024, Biden’s calculus is that he will be able to repeat his feat in 2020 when Americans opted for his centrist message.

To underline his economic credentials, Biden announced what the White House is calling an “Invest in America Cabinet” comprising the secretaries of commerce, labor, transportation, treasury, energy, health and the environment.

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International

U.S. Senate Rejects Budget, Bringing Government Closer to Shutdown Amid DHS Dispute

The U.S. Senate voted on Thursday against a budget proposal in a move aimed at pressuring changes at the Department of Homeland Security (DHS), following the killing of two civilians during a deployment of immigration agents in Minneapolis.

All Senate Democrats and seven Republican lawmakers voted against the bill, which requires 60 votes to advance, pushing the country closer to a partial government shutdown that would cut funding for several agencies, including the Pentagon and the Department of Health.

The rejection came as Senate leaders and the White House continue negotiations on a separate funding package for DHS that would allow reforms to the agency. Proposed measures include banning Immigration and Customs Enforcement (ICE) agents from wearing face coverings and requiring them to use body-worn cameras during operations.

The vote took place just hours after President Donald Trump said he was “close” to reaching an agreement with Democrats and did not believe the federal government would face another shutdown, following last year’s record stoppage.

“I don’t think the Democrats want a shutdown either, so we’ll work in a bipartisan way to avoid it. Hopefully, there will be no government shutdown. We’re working on that right now,” Trump said during a Cabinet meeting at the White House.

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International

Trump Says Putin Agreed to One-Week Halt in Attacks on Ukraine Amid Extreme Cold

U.S. President Donald Trump said on Thursday that he secured a commitment from Russian President Vladimir Putinto halt attacks against Ukraine for one week, citing extreme weather conditions affecting the region.

“Because of the extreme cold (…) I personally asked Putin not to attack Kyiv or other cities and towns for a week. And he agreed. He was very pleasant,” Trump said during a Cabinet meeting broadcast by the White House.

Trump acknowledged that several advisers had questioned the decision to make the call.
“A lot of people told me not to waste the call because they wouldn’t agree. And he accepted. And we’re very happy they did, because they don’t need missiles hitting their towns and cities,” the president said.

According to Trump, Ukrainian authorities reacted with surprise to the announcement but welcomed the possibility of a temporary ceasefire.
“It’s extraordinarily cold, record cold (…) They say they’ve never experienced cold like this,” he added.

Ukrainian President Volodymyr Zelensky later commented on the announcement, expressing hope that the agreement would be honored.

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International

Storm Kristin Kills Five in Portugal, Leaves Nearly 500,000 Without Power

Storm Kristin, which battered Portugal with heavy rain and strong winds early Wednesday, has left at least five people dead, while nearly half a million residents remained without electricity as of Thursday, according to updated figures from authorities.

The revised death toll was confirmed to AFP by a spokesperson for the National Emergency and Civil Protection Authority (ANPEC). On Wednesday, the agency had reported four fatalities.

Meanwhile, E-Redes, the country’s electricity distribution network operator, said that around 450,000 customers were still without power, particularly in central Portugal.

Emergency services responded to approximately 1,500 incidents between midnight and 8:00 a.m. local time on Wednesday, as the storm caused widespread disruptions.

The Portuguese government described Kristin as an “extreme weather event” that inflicted significant damage across several regions of the country. At the height of the storm, as many as 850,000 households and institutions lost electricity during the early hours of Wednesday.

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Several municipalities ordered the closure of schools, many of which remained shut on Thursday due to ongoing adverse conditions.

Ricardo Costa, regional deputy commander of the Leiria Fire Brigade, said residents continue to seek assistance as rainfall persists.
“Even though the rain is not extremely intense, it is causing extensive damage to homes,” he noted.

In Figueira da Foz, a coastal city in central Portugal, strong winds toppled a giant Ferris wheel, underscoring the severity of the storm.