Connect with us

World

Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side

Published

on

President Biden
biden AP News Image

Washington — On the campaign road, President Joe Biden likes to take a firm stance against corporate America.

The Democrat urges people that companies should pay more taxes, and he criticizes many businesses for driving up prices by inciting “greedflation” and “shrinkflation.”

However, during the past several months, top Biden administration officials have increased their outreach to CEOs and other corporate leaders, inquiring about their needs. Former President Donald Trump, the likely Republican nominee, believes the business community to be his home turf.

Both candidates want to message voters heading into November that they can work with employers, even if the deeply divided electorate has made many businesses hesitant of overtly picking sides politically.

The Biden team’s pitch to business executives goes like this: We believe the economy is doing well, but we’d like to hear from you about how we might encourage investment.

biden

Biden | AP News Image

Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side

“They know that they will always be heard,” said Lael Brainard, director of the White House National Economic Council. “We are pragmatic. “We solve problems for them.”

On Thursday, Trump will make his case to the Business Roundtable, an organization of more than 200 CEOs, about why the economy would benefit if he returned to the presidency.

Biden was also invited to appear, but he will be in Italy for a Group of Seven conference of world leaders. White House chief of staff Jeff Zients, a former CEO, will present the president’s vision to the group.

Biden has consistently worked to strike a balance between business and labor interests. He mitigates his criticism of corporations by noting that, as a former senator from Delaware, he hails from the “corporate capital of the world.”

Trump, for his part, has built his reputation as a millionaire property developer by marketing everything from educational courses to steaks and neckties. He also has his eponymous Trump Media & Technology Group listed on the stock market.

Trump, who lowered corporate taxes throughout his reign and promised to reduce regulations, has gathered backing from Wall Street billionaires such as Stephen Schwarzman, who described him as a “vote for change.”

The Washington Post reported that Trump had encouraged oil business executives to assist in funding his campaign in exchange for the profits his administration would generate for them, a claim that the Trump campaign denied.

Despite this year’s growing stock market and low 4% unemployment rate, Trump has branded the US economy as “horrible.” His message resonates with voters because of the 2022 inflation rise, which has left many Americans gloomy about the economy.

Trump campaign spokeswoman Karoline Leavitt stated that “business leaders and working families alike are eager for the return of these common-sense policies” such as tax reduction, deregulation, and greater oil and natural gas production.

During their business outreach, Biden’s top advisers heard a different economic perspective than what Trump is proposing. According to administration officials, the CEOs they’ve spoken with are largely pleased with the performance of the stock market and the overall economy, as inflation has dropped without the recession that some had predicted.

According to the Biden team, American business leaders are seeking strategies to prolong growth. There aren’t enough skilled workers to fill the offered positions. Government permitting should be expedited. They also generally support the administration’s push to prolong a business tax benefit for R&D costs.

biden

Biden | AP News Image

Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side

According to many Biden administration officials, corporate leaders have raised concerns about Trump, despite the fact that the White House-CEO discussions have not expressly addressed the November election. Trump’s tariff increases risk disrupting trade partnerships and harming company profitability. Stocks and bonds might plummet if Trump attempts to seize control of politically independent bodies like the Federal Reserve or undermines the rule of law, which has long been a pillar of American capitalism.

Biden’s staff extended its outreach at the request of Zients. The chief of staff invited six other top officials to a February dinner with the purpose of developing a plan to communicate more with CEOs and their predecessors.

Each official pledged to speak to ten CEOs. By the end of April, the group had spoken with over 100 people. In May, Biden met with eight CEOs, including those of United Airlines, Marriott, Xerox, Corning, and Citigroup, as a result of his outreach.

Deputy Treasury Secretary Wally Adeyemo said he left the discussions with a better understanding of how issues overlapped. Renewable energy measures implemented by the administration, for example, were critical in the development of artificial intelligence data centers.

Adeyemo stated that the government has had some progress in decreasing the federal paperwork required for permitting, resulting in shorter processing periods that could otherwise take two years. And, with certain employment initiatives losing funds linked to pandemic-era federal aid, the administration is examining if businesses can take over the financing.

The administration makes a big-picture argument that its plans are better for overall growth, which in turn is good for profits.

“One of the things we don’t do is pretend we’re going to agree with the business community on everything,” Adeyemo stated. “We want feedback and we’re going to continue to talk to you.”

According to those familiar with the discussions at the Biden meeting, Brendan Bechtel, CEO of the Bechtel Group, a major construction company, emphasized the shortage of trained labor. Because corporations cannot hire everyone they require, some are forced to forego business in ways that reduce their revenues.

biden

Biden | AP News Image

Biden Asks CEOs How To Further Boost The Economy While Trump Says Business Is On His Side

According to Labor Department estimates, there are currently 1.5 million more job vacancies than unemployed persons looking for work. And, as job positions have gone unfilled over the last year due to a labor shortage, employers have reduced their postings. Manufacturing companies, for example, have 516,000 unfilled positions, compared to 647,000 a year ago.

The shortfall is a result of both a strong employment market and decades of education systems that promoted universities while sometimes overlooking the need for tradesmen like electricians, plumbers, and welders. The ratio of males aged 25 to 54 in the work force has been declining for decades, and reversing that trend might bring millions back into the labor force.

“In the U.S., we got into a college-for-all mentality and other forms of skill development were demoted,” said Harry Holzer, a Georgetown University economist.

Commerce Secretary Gina Raimondo has made it a mission to bring more women into construction, and the success of her department’s funding efforts to resuscitate domestic computer chip production may be dependent on a huge pool of qualified workers. She stated that fixing the problem will require better collaboration with the employing industry.

“You need to start with the employers — which might sound not intuitive,” Raimondo stated. “You go to the company and figure out who they’re going to hire at what wages and what skills.”

Raimondo saw the problem from an economic standpoint, since companies would experience slower growth if they lacked skilled people. However, she also sees it as a cultural and political issue. One of Biden’s promises as he pursues a second term is that voters should feel positive about their chances of entering the middle class.

“People start to lose hope when they feel there is no place for them in the economy,” Raimondo stated.

SOURCE – (AP)

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

World

A Gray Wolf Was Killed In Southern Michigan. Experts Remain Stumped About How It Got There.

Published

on

wolf
Wolf | PixaBay Image

Wildlife specialists have come to a dead end in trying to figure out how a grey wolf got to southern Michigan for the first time in over a century.

A hunter killed the wolf in January after reporting to the authorities that he had thought it was a coyote. It was shocking because the southern Lower Peninsula of Michigan lacks the necessary habitat for grey wolves despite their abundance in the Upper Peninsula, where the most recent estimate puts the population at around 700.

wolf

Wolf | PixaBay Image

A Gray Wolf Was Killed In Southern Michigan. Experts Remain Stumped About How It Got There.

“We simply don’t know how it got there,” California Department of Natural Resources wolf expert Brian Roell said on Thursday.

He said something natural might have happened, and human assistance might have been possible. We would be very grateful for any information that the public may have.

Although certain species can cross the Straits of Mackinac between the peninsulas when ice forms on the Great Lakes, Roell noted that the ice conditions have yet to be solid this winter.

He said that a wolf traveling from another part of the Upper Midwest to southern Michigan would also encounter obstacles.

wolf

Wolf | AP News Image

A Gray Wolf Was Killed In Southern Michigan. Experts Remain Stumped About How It Got There.

A mark on a foot indicated that the wolf had been recently trapped.

That merely heightens the curiosity, Roell added.

Around 300 miles (482 km) south of the Upper Peninsula, in Calhoun County, during coyote hunting season, the wolf was killed. Social media postings were how the DNR found out about it.

The DNR stated that only in cases when grey wolves directly endanger human life can they be killed under the Endangered Species Act.

wolf

Wolf | PIxaBay Image

A Gray Wolf Was Killed In Southern Michigan. Experts Remain Stumped About How It Got There.

A taxidermist had preserved and filled the garment when the agency became engaged. DNR took the mount.

The agency recently turned over its investigation to the Calhoun County prosecutor. An Associated Press email for comment wasn’t responded to immediately on Thursday.

SOURCE – (AP)

Continue Reading

World

Reported Birth Of Rare White Buffalo Calf In Yellowstone Park Fulfills Lakota Prophecy

Published

on

buffalo

HELENA, Montana – According to members of the American Indian tribe, the reported birth of a rare white buffalo in Yellowstone National Park fulfills a Lakota prophecy that portends brighter times, but it also serves as a reminder that more has to be done to safeguard the planet and its wildlife.

“The birth of this calf represents both a blessing and a warning. “We must do more,” said Chief Arvol Looking Horse, the spiritual leader of South Dakota’s Lakota, Dakota, and Nakota Oyate tribes and the 19th custodian of the holy White Buffalo Calf Woman Pipe and Bundle.

The birth of the sacred calf follows a harsh winter in 2023 that drove thousands of Yellowstone buffalo, commonly known as bison, to lower elevations. More than 1,500 were murdered, slaughtered, or handed to tribes wanting to recover stewardship of an animal with which their forefathers had coexisted for centuries.

buffalo

Buffalo | Native Online Image

Reported Birth Of Rare White Buffalo Calf In Yellowstone Park Fulfills Lakota Prophecy

Erin Braaten of Kalispell photographed the calf immediately after it was born on June 4 in the Lamar Valley in the park’s northeastern portion.

Her family was visiting the park when she noticed “something really white” in a bison herd across the Lamar River.

Traffic stopped as bison crossed the road, so Braaten stuck her camera out the window to get a better look with her telephoto lens.

“I look, and it’s a white bison calf. “I was completely floored,” she added.

After the bison had crossed the road, the Braatens turned around and found a place to park. They observed the calf and its mother for 30 to 45 minutes.

“And then she kind of led it through the willows there,” added Braaten. Braaten returned the next two days but did not see the white calf again.

Looking Horse explained that the birth of a white buffalo calf with a black nose, eyes, and hooves represents the second coming of Jesus Christ to the Lakota.

According to Lakota legend, nearly 2,000 years ago, when nothing was good, food was running short, and bison were disappearing—White Buffalo Calf A woman appeared, handed a tribal member a bowl pipe and a bundle, showed them how to pray, and explained that the pipe could be used to attract buffalo to the region for sustenance. As she departed, she transformed into a white buffalo calf.

“And someday when the times are hard again,” Looking Horse stated in relating the narrative, “I shall return and stand upon the earth as a white buffalo calf, black nose, black eyes, and black hooves.”

According to him, an identical white buffalo calf named Miracle was born in Wisconsin in 1994.

buffalo

Buffalo | AP News Image

Reported Birth Of Rare White Buffalo Calf In Yellowstone Park Fulfills Lakota Prophecy

According to Troy Heinert, executive director of the InterTribal Buffalo Council in South Dakota, the calf in Braaten’s images appears to be a true white buffalo due to its black snout, black hooves, and dark eyes.

“From the pictures I’ve seen, that calf appears to have those characteristics,” said Heinert, who is Lakota. Albino buffaloes would have pink eyes.

The Yellowstone calf was named, according to Looking Horse, but the name was not revealed. A ceremony commemorating the calf’s birth is scheduled for June 26 at the Buffalo Field Campaign headquarters in West Yellowstone.

Other tribes adore white buffalo.

“Many tribes have their own story of why the white buffalo is so important,” Heinert stated. “All stories go back to them being very sacred.”

Heinert and numerous Buffalo Field Campaign members claim they have never heard of a white buffalo born in Yellowstone with wild herds. Park officials had not yet seen the buffalo and could not confirm its birth in the park, and there was no previous record of a white buffalo being born there.

Jim Matheson, executive director of the National Bison Association, couldn’t say how rare the calf is.

“To my knowledge, no one has ever counted the number of white buffalo born throughout history. So I am not sure how we can determine how frequently it occurs.”

Aside from herds of bison on public lands or managed by conservation groups, over 80 tribes in the United States have more than 20,000 bison, increasing in recent years.

buffalo

Buffalo | Mens Journal Image

Reported Birth Of Rare White Buffalo Calf In Yellowstone Park Fulfills Lakota Prophecy

Almost every winter, huge numbers of bison are killed or removed in Yellowstone and the surrounding area thanks to an agreement between federal and Montana agencies that limits the size of the park’s herds to roughly 5,000 animals. Yellowstone officials proposed a slightly bigger population of up to 6,000 bison this week, with a final decision due next month.

However, ranchers in Montana have traditionally opposed expanding the Yellowstone herds or sending the animals to tribes. Republican Gov. Greg Gianforte has stated that he will not approve any management plan with a population target of more than 3,000 Yellowstone bison.

Heinert sees the calf’s birth as a reminder “that we need to live in a good way and treat others with respect.”

“I hope that calf is safe and gonna live its best life in Yellowstone National Park, exactly where it was designed to be,” Heinert stated.

SOURCE – (AP)

Continue Reading

World

2024 | North Korea’s Kim Hails Russia Ties As Putin Reportedly Plans A Visit

Published

on

putin

SEOUL, South Korea — North Korean leader Kim Jong Un and Putin praised the country’s growing ties with Russia on Wednesday, as reports indicate that Russian President Vladimir Putin would soon visit the country for his third summit with Kim.

North Korea and Russia’s military, economic, and other cooperation has risen dramatically since Kim visited Russia last September for a meeting with President Putin. The United States, South Korea, and other partners think North Korea provided Russia with artillery, missiles, and other conventional weapons in exchange for sophisticated military technologies and economic aid.

putin

Putin | AP News Image

North Korea’s Kim Hails Russia Ties As Putin Reportedly Plans A Visit

Kim has been striving for stronger partnerships with Russia and China to strengthen his regional position and form a united front against the United States.

During their September meeting at Russia’s primary space launch facility, Kim offered Vladimir a visit to North Korea at “a convenient time,” which Putin agreed to.

According to the North’s official Korean Central News Agency, Kim sent Vladimir a message on Wednesday thanking Russia on National Day.

“Thanks to the significant meeting between us at the Vostochney Spaceport in September last year, (North Korea)-Russia friendly and cooperative relations developed into an unbreakable relationship of comrades-in-arms,” Kim wrote in his message.

Kim’s remarks came as media sources stated that Vladimir is set to visit North Korea as early as next week. If realized, it would be their third summit conference. Their first summit took place in Vladivostok in April 2019.

putin

Putin | AP News Image

North Korea’s Kim Hails Russia Ties As Putin Reportedly Plans A Visit

NHK, citing unidentified diplomatic sources, including high-ranking Russian officials, said Wednesday that Vladimir plans a trip to North Korea and Vietnam next week.

According to NHK, he anticipated to seek greater military relations with North Korea as Russia confronts a weapons deficit in its battle with Ukraine, while North Korea is thought to want assistance with space technology following its recent failure to launch a second spy satellite into orbit in late May.

Russian business daily Vedomosti, which cited an unidentified diplomatic source, reports that Putin will visit North Korea and Vietnam “in the coming weeks.” The article also states that Russia’s envoy in North Korea, Alexander Matsegora, has stated that preparations for Vladimir’s visit to the country are underway.

Neither Russia nor North Korea have acknowledged news of an upcoming trip. According to Russian news outlet Tass, Kremlin Spokesman Dmitry Peskov stated at a briefing in late May that “the visit is in the works, and we will make an announcement in due course.”

putin

Putin | AP News Image

North Korea’s Kim Hails Russia Ties As Putin Reportedly Plans A Visit

Russia and North Korea are at odds with the United States, Russia over its invasion of Ukraine and North Korea over its developing nuclear program. Both North Korea and Russia have denied reports of arms deliveries, which would violate several United Nations Security Council resolutions.

In March, South Korean Defence Minister Shin Wonsik stated that North Korea has already transferred approximately 7,000 containers laden with weapons and other military material to Russia. In response, Shin stated that North Korea had received more than 9,000 Russian containers, most of which were presumably laden with aid.

Tensions on the Korean Peninsula have recently increased anew, with North Korea launching trash-carrying balloons into South Korea, leading the South to resume propaganda broadcasts along the border.

SOURCE – (AP)

Continue Reading

Download Our App

vornews app

Advertise Here

Volunteering at Soi Dog

People Reading

Trending