bankers against Biden's fiscal plan could really do with some proper fact-checking before sending their op-ed to the FT.
We all understand 'it's ideology, stupid!', but no excuse for lazy arguments.
Incidentally, unconventional monetary policy through which central banks basically rescued banks after they nearly destroyed the global financial system in 2008
I cant think of a more productivity-enhancing outlay for 10bn of public funds.
to blame government spending, instead of the Morgan Stanleys of this world, for monetary policy is, let's say, a bit rich
it's on par with Erdogan's 'high-interest rate cabal'
More from Biden
U.S. president-elect Joe Biden has indicated plans to cancel the Keystone XL pipeline permit via executive action on his first day in office, sources tell CBC News.
This weekend stakeholders have seen a longer list of Biden’s planned executive actions than what was publicly reported in a memo from incoming chief of staff Ron Klain.
That purported list includes a reference to cancelling Keystone XL on Day 1 — Wednesday.
Here is what the Biden transition team has publicly reported so far. From a memo by his Chief of Staff Ron Klain — that dozens of executive orders are planned in the first few days. https://t.co/gEi3qHJnD1
The Biden team has publicly /
/ publicly announced its intention to sign climate orders on Day 1 including rejoining the Paris accord
What hasn’t been publicly reported, and it’s apparently something the transition team has indicated in stakeholder briefings, is that an order to kill KXL is coming on Day 1
Alberta Premier Jason Kenney raises the prospect of legal action if Biden cancels KXL.
This weekend stakeholders have seen a longer list of Biden’s planned executive actions than what was publicly reported in a memo from incoming chief of staff Ron Klain.
That purported list includes a reference to cancelling Keystone XL on Day 1 — Wednesday.
Here is what the Biden transition team has publicly reported so far. From a memo by his Chief of Staff Ron Klain — that dozens of executive orders are planned in the first few days. https://t.co/gEi3qHJnD1
The Biden team has publicly /
/ publicly announced its intention to sign climate orders on Day 1 including rejoining the Paris accord
What hasn’t been publicly reported, and it’s apparently something the transition team has indicated in stakeholder briefings, is that an order to kill KXL is coming on Day 1
Alberta Premier Jason Kenney raises the prospect of legal action if Biden cancels KXL.
I am deeply concerned by reports that the incoming administration of President-elect Joe Biden may repeal the Presidential permit for the Keystone XL border crossing next week.
— Jason Kenney (@jkenney) January 18, 2021
My full statement: pic.twitter.com/vZjun1IdMH
Biden clearly should not do #1. The problem with #2 is that reconciliation delays the inevitable and creates a tiered system where issues that happen to be ineligible - like civil rights and democracy reform - are relegated to second-class status and left to die by filibuster.
This👇is the danger. By using reconciliation you’re conceding the point that major legislation deserves to pass by majority vote, but only certain kinds for arbitrary reasons. Plus the process itself is opaque and ugly. You risk laying a logistical & political trap for yourself.
All the “here’s what you can do through reconciliation” takes are correct but also look through the wrong end of the telescope. Any of the items mentioned, or a small number of them, would be relatively easy. But putting them all together in one leadership-driven mega package...
... with no committee involvement and no real oversight, enduring tough press for jamming a massive package through a close process and stories about lobbyist giveaways while dodging the adverse parliamentary rulings that are virtually inevitable and still maintaining 50 votes...
It’s possible! Maybe the mega-ness of the package ends up helping hold 50 votes. But the ugliness of the process is being underpriced. And to what end? You’re just delaying the inevitable since you can’t use it for civil rights nor can you allow civil rights to die by filibuster.
Biden will have two options:
— Sahil Kapur (@sahilkapur) January 23, 2021
1. Cut the price tag sharply to court GOP support.
2. Use reconciliation to do what he can with 50 votes\u2014some stuff has to go, like $15 wage.
(A 3rd option is nuke the filibuster but @PressSec says he doesn\u2019t favor that.)https://t.co/AV49BcmDaI
This👇is the danger. By using reconciliation you’re conceding the point that major legislation deserves to pass by majority vote, but only certain kinds for arbitrary reasons. Plus the process itself is opaque and ugly. You risk laying a logistical & political trap for yourself.
Obvious answer is 2b where you tie yourself in knots trying to go nuclear lite and totally lose the plot in the process
— Liam Donovan (@LPDonovan) January 23, 2021
All the “here’s what you can do through reconciliation” takes are correct but also look through the wrong end of the telescope. Any of the items mentioned, or a small number of them, would be relatively easy. But putting them all together in one leadership-driven mega package...
... with no committee involvement and no real oversight, enduring tough press for jamming a massive package through a close process and stories about lobbyist giveaways while dodging the adverse parliamentary rulings that are virtually inevitable and still maintaining 50 votes...
It’s possible! Maybe the mega-ness of the package ends up helping hold 50 votes. But the ugliness of the process is being underpriced. And to what end? You’re just delaying the inevitable since you can’t use it for civil rights nor can you allow civil rights to die by filibuster.
Sitting down to work for the first day of the Biden presidency is a surreal feeling.
So much happened yesterday. I'm going to collect my threads here on yesterday's big immigration news.
First, we got key details of Biden's big immigration
Once Biden had officially taken office, we got the first major action. As part of a standard transition process, the Biden White House froze all regulations which Trump had been trying to finalize at the last hour. I did a thread on what we
Last night we started getting more changes. One of the first was an order telling CBP to stop putting people into the so-called "Migrant Protection Protocols," a cruel program that's left thousands in a dangerous limbo. But there's still more to do!
After that, we began getting the text of immigration executive orders. The first one put onto the White House's website was the order ending the Muslim Ban/Africa Ban and ordering the State Department to come up with a plan for reconsidering
The next immigration executive order put on the White House's website revoked a Trump executive order from January 26, 2017 which made all undocumented immigrants a priority for deportation and directed a DHS-wide review of immigration
So much happened yesterday. I'm going to collect my threads here on yesterday's big immigration news.
First, we got key details of Biden's big immigration
There is a LOT to like about this bill. I want to highlight some of the proposed changes beyond just legalization, including:
— Aaron Reichlin-Melnick (@ReichlinMelnick) January 20, 2021
- Ending the 3 & 10 year bars
- Curbing the "Muslim ban" authority
- Preventing "aging out" of children on nonimmigrant visas.https://t.co/jkFBIcNJEb
Once Biden had officially taken office, we got the first major action. As part of a standard transition process, the Biden White House froze all regulations which Trump had been trying to finalize at the last hour. I did a thread on what we
This is a standard order issued following every transition, but today it feels so important because of how many horrific things were in the pipeline.
— Aaron Reichlin-Melnick (@ReichlinMelnick) January 20, 2021
Here's a brief thread about some of the terrible anti-immigration regulations that didn't make it across the finish line.
1/ https://t.co/q0QpfVxPXm
Last night we started getting more changes. One of the first was an order telling CBP to stop putting people into the so-called "Migrant Protection Protocols," a cruel program that's left thousands in a dangerous limbo. But there's still more to do!
Incredible.\U0001f38a I am overwhelmed with joy that we are finally seeing the end to one of the most cruel and heartless policies of the last four years\u2014one that caused horrific damage to peoples' lives.
— Aaron Reichlin-Melnick (@ReichlinMelnick) January 21, 2021
The first part of the promise was kept. Now #LetThemIn!https://t.co/PZGrbvagaa https://t.co/PMeOxrKJvm
After that, we began getting the text of immigration executive orders. The first one put onto the White House's website was the order ending the Muslim Ban/Africa Ban and ordering the State Department to come up with a plan for reconsidering
\U0001f38aWe have our first immigration EO and it's the order ending the Muslim Ban/Africa Ban!
— Aaron Reichlin-Melnick (@ReichlinMelnick) January 21, 2021
The Bans "are a stain on our national conscience and are inconsistent with our long history of welcoming people of all faiths and no faith at all."https://t.co/4lh20OCCAY pic.twitter.com/8mW9wuPyzc
The next immigration executive order put on the White House's website revoked a Trump executive order from January 26, 2017 which made all undocumented immigrants a priority for deportation and directed a DHS-wide review of immigration
\U0001f38aSecond immigration EO! It is short. It establishes that Biden believes that immigration enforcement "requires setting priorities to best serve the national interest."
— Aaron Reichlin-Melnick (@ReichlinMelnick) January 21, 2021
It then revokes Trump's original EO that made all undocumented immigrants a priority.https://t.co/MvaeqPbiyK pic.twitter.com/dpkVZAKOT2
This is the start of my second thread of the front pages of newspapers on this date January 21, 2021. Click below for the first thread. #inaguration2021
Front page of the Independent Record on this date January 21, 2021. #OTD #Inauguration2021
Front page of The Atlanta Journal-Constitution on this date January 21, 2021. #OTD #Inauguration2021
Front page of the Daily News on this date January 21, 2021. #OTD #Inauguration2021
Front page of the Tallahassee Democrat on this date January 21, 2021. #OTD #Inauguration2021
Front page of the Wyoming Tribune Eagle on this date January 21, 2021. #OTD #Inauguration2021 pic.twitter.com/9fmnaJtChM
— Dr. Jeffrey Guterman (@JeffreyGuterman) January 21, 2021
Front page of the Independent Record on this date January 21, 2021. #OTD #Inauguration2021
Front page of The Atlanta Journal-Constitution on this date January 21, 2021. #OTD #Inauguration2021
Front page of the Daily News on this date January 21, 2021. #OTD #Inauguration2021
Front page of the Tallahassee Democrat on this date January 21, 2021. #OTD #Inauguration2021
