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For all the foreign policy flops plaguing the President Biden, the success or failure of his domestic agenda is riding on what happens over the next week. |
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Biden's agenda hangs in the balance of his own party President Joe Biden campaigned on his ability to reach across the aisle, but his real challenge is wrapping his arms around both wings of his own party.to push through his ambitious domestic agenda. It's not just Republicans standing in the way of his infrastructure bills. Progressive and moderate Democrats are at odds over the lofty price tag of the $3.5 trillion reconciliation bill, with the more liberal members of Congress threatening to deep-six the bipartisan $1.2 trillion infrastructure bill unless the former also passes. The GOP is giving the Dems enough rope to hang themselves, and it's working. Biden and party leaders announced Thursday that they had struck a framework for how to pay for the package, but they need all hands on deck to get it done. Meanwhile, Republicans are threatening to kill both bills by voting against a continuing resolution to pay for it all. FIND OUT OF THE DEMS HAVE ENOUGH VOTES TO PREVAIL
New unemployment claims increase despite labor shortage Putting America back to work remains a work in progress, according to Thursday's data from the Department of Labor. Its latest figures show a jump in the number of new applicants for jobless benefits last week despite the ongoing labor shortage that is preventing the U.S. economy from fully recovering from the COVID-19 pandemic. The report said first-time claims for unemployment topped 351,000, an increase from the previous week’s upwardly revised 335,000 and well ahead of the 320,000 Dow Jones estimate. It's the highest The figure has reached in over a month and raises serious questions about how many Americans have left the work force for good. SEE WHY ECONOMISTS FEAR UNEMPLOYMENT TRENDS
Semiconductor chip shortages wrecking automobile industry When the chips are down, so is the automobile industry. That's the word from a global consulting firm that estimates the international shortage of semiconductor chips will cost carmakers $210 billion in lost revenue in 2021 alone with even higher losses down the road. According to AlixPartners, the chip shortage will result in 7.7 million fewer cars being produced worldwide this year. That's nearly double the group's estimate just four months ago, indicating how serious the crisis has become for automakers already dealing with other issues. SEE WHEN ANALYSTS THINK THE CHIP SHORTAGE WILL END
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Markets
| DJIA | 34,764.82 | 1.48% |
| S&P 500 | 4,448.98 | 1.21% |
| Nasdaq Composite | 15,052.24 | 1.04% |
| Japan: Nikkei 225 | 30,211.11 | 1.93% |
| UK: FTSE 100 | 7,078.35 | -0.07% |
| Crude Oil Futures | 73.64 | 0.46% |
| Gold Futures | 1,749.50 | -0.02% |
| Yen | 110.39 | 0.06% |
| Euro | 1.17 | 0.04% | | * As of market close |
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CDC approves booster but blocks frontliners
The CDC green-lighted the FDA's recommendation for the Pfizer booster shot on Thursday with one notable exception -- frontline workers will not move to the front of the line to receive the shot. The move leaves those in high-risk jobs like medical workers having to wait their turns for the shot. The CDC's plan calls for ages 65 and over and those with at-risk health conditions to begin getting their booster shots as early this weekend. Only the Pfizer booster is available to start with Moderna and Johnson & Johnson still in the pipeline. Regardless of the dose, frontliners must wait. SEE WHY THE CDC PULLED THE PLUG ON FRONTLINE WORKERS
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Twitter wooing creators with crypto tips
Twitter has watched its younger audience dwindle over the years with the advent of creator-content sites like TikTok, Instagram and YouTube. In hopes of attracting some of those social media stars to the Twitterverse, a new feature allows creators to receive cryptocurrency tips from followers. In an effort to facilitate creators in monetizing their work, the new policy gives fans and followers an outlet to contribute to their favorite artists and influencers using bitcoin. The goal is to make Twitter a friendlier place for content creators, but most of the content will still be as nasty as ever. SEE WHY TWITTER IS UNDERGOING AN EXTREME MAKEOVER
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Liquor is the latest item on the shortage list
OK, COVID, enough is enough. We have skimped on toilet paper, made due without computer microchips, and somehow survived without bacon. But now there are reports of alcohol shortages hitting parts of the U.S. -- and that's the only way many of us have gotten through the pandemic. Sadly, some states have taken steps to limit the amount of alcohol a customer may purchase to prevent outages of some of the more popular liquor brands. Among those on the shortage list are 43 different brands of bourbon, whiskey, champagne, cognac and tequila (which happens to be the recipe of our favorite pandemic cocktail -- the Lockdown Dragout). FIND OUT WHICH STATES ARE DEALING WITH LIQUOR LIMITS
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Booze news
Whiskey is America's most popular pick of poison, but not the rest of the world. What is the most popular selling brand of liquor worldwide? Thursday’s answer: According to Mega Millions, the most commonly drawn number in its 25 years of operation as the national lottery is 38. SEND YOUR ANSWER HERE TO SHOW OFF YOUR KNOWLEDGE
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Fast Start for friends
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