It’s Thursday.
I need too…
Current mood…
When Biden Bits was posted for Wednesday, President Biden had tweeted 2 times. He added 4 tweets giving him a reasonable Wednesday Tweeting total of 6 tweets and 1 retweet.
The video clip is 47 seconds long and features President and CEO of the Siemens Corporation Barbara Humpton and President Biden speaking virtually to Siemens employees from CA., and TX..
On March 4th, 2022, President Biden and Humpton delivered remarks on Siemens plan to invest $54 million to upgrade and expand both plants; that develop the high-tech, high-value electrical equipment that is used in electric circuitry, switchboards, electric vehicles, chargers out on the highways, and data centers. This announcement alone is going to create 300 new good-paying, cutting-edge manufacturing jobs.
I will not be transcribing the video.
In rare mishap the tweeted out live feed did not pick up the start of President Biden’s remarks. The YouTube uploaded by the White House did start on time…
The YouTube is 22 minutes and 47 seconds long. His full remarks including other speakers can be found here.
The White House posted the following readout; Roundtable with CEOs and Bipartisan Governors in Support of the Bipartisan Innovation Act
Today, President Joseph R. Biden, Jr. joined by Secretary of Commerce Gina Raimondo and Director of the National Economic Council Brian Deese, met with business leaders and a bipartisan pair of governors to call on Congress to take swift action and deliver competitiveness legislation like the Bipartisan Innovation Act to the President’s desk.
The governors and business leaders—which included some of the world’s leading manufacturing and semiconductor firms—discussed how the bill will foster domestic semiconductor manufacturing, create more resilient supply chains, invest in basic research and set a course for America’s innovation agenda while lowering costs for the middle class. Business leaders discussed their plans to reshore manufacturing and make more in America, building on the momentum of 423,000 manufacturing jobs created since President Biden took office. They discussed how their companies are trying to build more resilient supply chains, leading them to re-locate production in America, and how the bill would result in quicker innovation in American manufacturing and more investments in worker training. They also discussed how domestic production can help Americans by addressing bottlenecks that are raising the costs of household goods like appliances, air conditioners, and washing machines. And the group discussed how, as we’ve seen over the past years, global events like the pandemic or Russia’s unprovoked aggression in Ukraine can result in higher prices for American consumers, which further underscores the importance of strengthening our economy and making it more resilient to these types of shocks.
Indiana Governor Eric Holcomb and Michigan Governor Gretchen Whitmer, spoke to the economic imperative of passing this bipartisan legislation for the economies of their states. Governor Holcomb said “Slow speed kills—we need to get this done and get it to your desk” and Governor Whitmer explained “Chip shortages have impacted more than 575,000 American jobs…These shortages are driving up costs, are jeopardizing families, and increasing the manufacturing here at home will reduce supply chain delays in transportation as well as lowering the costs of consumer electronics.”Participants include:
White House.gov. 03/09/2022.
Michigan Governor Gretchen Whitmer
Indiana Governor Eric Holcomb
Dr. Siyoung Choi*, President and GM, Device Solutions Division, Samsung
Elizabeth Door, Senior Vice President, Global Strategic Sourcing, Whirlpool
Enrique Lores*, President and CEO, Hewlett-Packard
Geoff Martha, CEO, Medtronic
Sanjay Mehrota, President and CEO, Micron
Jennifer Rumsey, President and COO, Cummins
*Denotes virtual participant
The *New York Times reported on Wednesday that; With 98 percent of the votes counted, the opposition leader, Yoon Suk-yeol, was leading by a margin of 263,000 votes, or 0.8 percentage points, when his opponent conceded early Thursday. It was South Korea’s tightest race since it began holding free presidential elections in 1987. Mr. Yoon will replace President Moon Jae-in, a progressive leader whose single five-year term ends in May.
The White House posted the following readout of the call:
President Joseph R. Biden, Jr. spoke today with President-elect Yoon Suk-yeol of the Republic of Korea (ROK) to congratulate him on his election. Together, they affirmed the strength of the U.S.-ROK alliance, which is the linchpin for peace, security and prosperity in the Indo-Pacific. President Biden emphasized the United States’ commitment to the defense of the ROK and that he looks forward to working together to deepen cooperation on key global challenges, including climate change, the COVID-19 pandemic, and supply chains. The two also committed to maintain close coordination on addressing the threats posed by the Democratic People’s Republic of Korea’s nuclear and missile programs.
White House.gov. 03/09/2022.
For Thursday, March 10th, 2022, President Biden has received his daily brief. This morning he held a phone call with President Recep Tayyip Erdoğan of Turkey to discuss the Russia invasion of Ukraine. This afternoon he will participate in a bilateral meeting with President of the Republic of Colombia Iván Duque Márquez. This evening he will deliver remarks to the Democratic National Committee members at their winter meeting.
President Biden has tweeted…
President Biden has retweeted once and tweeted 1 time.
His full statement:
Today’s economic data tells the tale of two recoveries.
Our jobs recovery remains strong. New unemployment claims remain low, as jobs are created at a record level. The rate of people on unemployment insurance is the lowest since 1970 – more than 50 years. And, private sector job growth is strong, boosted by the steps we took in the American Rescue Plan a year ago this week.At the same time, today’s inflation report is a reminder that Americans‘ budgets are being stretched by price increases and families are starting to feel the impacts of Putin’s price hike. A large contributor to inflation this month was an increase in gas and energy prices as markets reacted to Putin’s aggressive actions. As I have said from the start, there will be costs at home as we impose crippling sanctions in response to Putin’s unprovoked war, but Americans can know this: the costs we are imposing on Putin and his cronies are far more devastating than the costs we are facing.
I know that higher prices impact a family’s budget, which is why I am fighting to bring down the everyday prices that are squeezing Americans. Last week, in coordination with our allies, the U.S. secured a release of 60 million barrels of oil from our strategic reserves. My Administration is pushing for investments so we can manufacture more in America, strengthen our supply chains, and move goods to market at lower cost. I’m promoting competition to make sure big corporations are offering consumers fair prices, and I’m pressing Congress to pass my plan to lower the cost of essentials like prescription drugs and energy.
Finally, I want to be clear: we can do all this, and reduce the huge federal budget deficit that I inherited from my predecessor. Earlier this week, we learned that after reducing the deficit last year — for the first time since 2015 – CBO reported that we are on track to cut the deficit this year by over $1 trillion – the largest one year reduction in the deficit in US history.
White House.gov. 03/10/2022.
When turn to my economic chart source Ben Casselman:
As of 12:07 p.m. D.C., time that was his last tweet with charts.
The daily press briefing is scheduled for 12:45 p.m. D.C., time.
This is an Open Thread.
