president biden will said lawmakers his first fiscal 2022 budget proposal the white house economic council budget deputy director tells bloomberg he believes big companies have the capacity to pay more in taxes to help fund infrastructure investments. >> 2018, the effective tax rate pays by u.s. multinationals was 8% and compare that with a tax rate small businesses pay. compare that with the tax rate of the average middle-class family. there is clearly capacity for these companies to pay more in taxes, to help finance investments that will be good for these companies and the long run. mark: he says the president's budget is about improving and creasing -- increasing the productive capacity of our a long talk -- our economy over the long term. the syrian president bashar al-assad has won the country's elections. er

the white house economic council deputy says more taxes will help fund infrastructure investments. >> in 2018, the effective tax rate was 8%. compared to the tax rate that small businesses pay, compared to the tax rate the average middle class family pays, this allows them to pay more in taxes. it will be good for those companies in the long run. ritika: it is about improving and increasing the capacity over the long-term. the japanese prime minister is extending a state of emergency in tokyo. it is terrain in covid -- it is to rein in covid infections before the olympics. many are worried it will become a super-spreader event. japan has one of the slowest vaccination programs in the developed world. gas prices in the united states are at their highest level in seven years. but experts do not expect -- experts expect eager travelers. aaa expects 30 million on the roads this weekend. global news 24 hours a day on air and at bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. kailey: thank you. meme sto

. >> shannon: i talked to secretary buttigieg about this and he was a director of the white house economic council. he was sounding a warning this levels at which we are borrowing, he was concerned about the impact of the dollar and that it would trigger more inflation. he's not a super conservative right-leaning guy. speak of the biden administration's growing government. that is where they put all of their marbles. if you look back ten years, the budget put forward by presiden president biden is more than 50% larger than it was ten years ago. that's growing government a member of the stimulus, infrastructure, and all the things i want to put on top of that. the number is stunning. they are growing government and you have small businesses, medium size and even large sides competing against the government because the government has made it so rich to not go back to work. these things have got to reconcile i do not believe that the government is a sole source of how we create jobs. the american people create jobs, not government. when it becomes so large approaching 25% of our gross domesti

policy he ran the white house national economic council along free-market policy principles and i sure hope that's going to be his message. i might have to give him a call, let's talk to him anyway. we need him out there to pinpoint the far left policy mistakes abiding crowd is committing, working to talk later in the show about why the green new deal cannot possibly happen along the biden timeline because we don't have the resources to transform our energy sector even if we wanted to and i don't particular want to i don't want to transform it. i can make it technologically better but i like it where it is, i don't want to taxes all on investment, i don't want critical race theory i don't want to cancel culture woke at them, i don't want open border, i love immigrants, i don't want that under massive social spending that does away with workfare and the dignity of work. i want to remind everybody just how right senator tim scott was when he told president biden that america is not a racist country, i worked three years for president trump and we agreed far far more than we disagreed on

house council of economic advisers, heather boushey. i can tell you, i've got questions. >>> and breaking news also earlier this morning, pfizer officially requested full authorization of its vaccine. if accepted, it could expand accessibility and it could allow some organizations and schools to mandate vaccinations. but vaccine hesitancy is still a major issue in some parts of this country. nowhere is that clearer than in the state of wyoming, where despite having one of the smallest populations in the country, they also have one of the lowest rates of vaccinations. nbc's cal perry is there with more, and i'm also joined by former cdc director dr. tom frieden. cal, what is going on? >> you know, stephanie, there are plenty of vaccines. when we spoke to the county health administrator, he basically said in his mind it's helpful to divide people in three categories. people who desperately wanted the vaccine and came out and got it. in the middle category, people willing to think about it, look at the evidence. and finally the people who

right now on the budget, bharat ramamurti joins us, the white house national economic council deputy director. he's from one of the esteemed families in america. what have you heard from southern india and the last couple of weeks with their pandemic challenge? bharat: it is tragic what is going on in india. a lot of my family is still there, so we are on pins and needles hoping they make it through ok. i know the united states has taken steps to assist india in dealing with the pandemic, and of course, taking the steps it did on the vaccine patents. i know the administration is looking at all we can do to help our brothers and sisters abroad, including those in india. tom: i will be pleased to talk to you about this further, but just because of the new slow today, we cannot. let's go to the economy. republicans will say this will break america. it is not doable. respond. bharat: i think the budget demonstrates that there is a fiscally responsible way of ensuring long-term, sustainable growth in the united states. what the budget calls for is a series of investments in infrastructure

house national economic council. he talked about the levels at which we're borrowing, he was concerned about the impact on the dollar, that it could trigger more inflation. >> the biden administration is growing government. that's where they put all their marbles. if you look back 10 years, the budget put forward by president biden is more than 50% larger than it was just 10 years am that's growing government. remember, all the stimulus and infrastructure and all these other things they want to put on top of that. the number is stunning. and what they're doing is growing government and you have small businesses and medium size and even large size businesses competing against the government because the government has made it so rich, not to go back to work. and so these things have got to reconcile but i do not believe that the government is the sole source of how you create jobs. the american people he create jobs, not government. when it becomes so large, approaching 25% of our gross domestic product, something has

joining us now is barat murti, deputy director of the white house national economic council. he formerly served on the senate staff of senator elizabeth warren. thank you very much for joining us tonight. really appreciate it. i want to get your reaction first of all to what the president said in ohio today about republican members of congress taking credit for what you managed to deliver into law in the covid relief bill. was that something with your experience in congress that you expected to see happen? >> well, i think the issue is that there's a lot to try to take credit for. if you look at where the economy was about four months ago when the president was inaugurated and where we are now, it is an incredible difference. you know, the three months before the president was inaugurated we averaged about 60,000 new jobs a month. in the three full months since then we've been averaging 500,000 new jobs. that 1.5 million new jobs over the first three months, no president in history has recorded that kind of job growth in their first three months in office. so i understand the

three years later he named her chair of the white house council of economic advisors. in 2000 four she began her third tenure at the federal reserve. this time of the federal reserve bank of san francisco. from that post she spotted a worrying economic trend, a bubble in home values. when the housing bubble popped into thousand eight she helped with the financial crisis and recession ended 2010, president obama appointed her vice chair of the federal reserve before nominating her to be the nation's top essential banker. she has -- can take a couple of questions i will be the bad cop. thank you for joining us. sec. yellen: hello everyone. it is a pleasure to join you, i will be pleased to take your questions but first i thought i would spend a few minutes on the state of our labor markets. when our administration took office, our economy was in a state of crisis. our most pressing concern was providing a lifeline for americans suffering under the weight of the pandemic. our solution was the american rescue plan, which the president signed back in march. it was designed

joining me now is member of the white house council of economic advisors. thank you for being here. on the budgets, "the new york times" put it this way. "by 2024, debt as a share of the economy would rise to the highest level in american history eclipsing a world war ii era record." do you want that? >> yeah. i'm going to get to that in a second. i don't think that's quite the right way to look at this. i think the thing to reflect on, of course, our budget numbers are embargoed until later today. i can tell you this. the i'm reflecting comments the president said yesterday. i think the question to ask yourself, sure, we want to look at big numbers. anything that starts with a t is going to capture interest. but you have to ask yourself, what are these investments going for? and the president very correctly talked yesterday about generational investments, transformational investments, investments that have a lasting impact on not just pulling forward a robust economic recovery by the way you can see all aurn us now, but getting to the other side of this duel health economic crisis

three years later he named her chair of the white house council of economic advisers. in 2004 secretary yellen began her third tenure at the federal reserve this time as president of the federal reserve bank of san francisco. from that post she spotted a whirring economic trend a bubble in home values, when the housing bubble popped in 2008 secretary yellen help manage the resulting financial crisis and recession. in 2010 president obama pointed her vice chair of the federal reserve before nominating her to succeed that chairman bernanke as the nation's top central bank of your cheek and take a couple of questions and as always i will be the bad cop. secretary yellen, thank you for joining us here. >> thank you, jan. hello, everyone. it's a pleasure to join you this morning. i will be pleased to take a question but first i thought i would spend a few minutes on the state of our labor market. without administration took office our economy was in ina state of crisis. i most pressing concern was providing a lifeline for american suffering under the weight of the pandemic.

there are a few pandemic-related exceptions but had a a member of the white house council of economic advisors says data does not show americans are staying home because of the benefits. what we are seeing is it the economy is recovering from historic pandemic. however, there are still 8 million fewer jobs than when the pandemic began in washington, i'm jessi tenure. president biden also announced today that his administration is rolling back trump era policies that have to do with. >> and transgender healthcare with this new policy. the biden administration says current federal laws prohibiting discrimination in health care also apply to and transgender people. it's a shift from policies put in place by president trump. his administration to find as the gender assigned at birth which excluded of course, transgender people's protection from discrimination. secretary of health and human services javier becerra from california says the new policy aligns with the decision last year by the supreme court which ruled federal protections against discrimination in the workplace. also apply to

let's talk about this now with the former chairman of the white house council of economic advisers under president donald trump, kevin hassett, is with us. good morning. what do you think of this price tag? >> right. i think that republicans are negotiating, but they're actually close to the finish line. i think both sides want to accomplish an infrastructure bill before the summer break. and i think that democrats are trying to get republicans to play along so that they can keep their reconciliation courage, that trick where you can get something through without exposing it to the filibuster for when they come back in the fall. so all the cards are aligned for there to be a bill about a trillion dollars and that's probably going to happen right after they go home in august. >> so you're optimistic, but there's still key stumbling blocks, including the pay-fors. republicans want to pay for it with unused covid relief funds. so that is money, though, that targets the middle class. yes, it's unemployment funds that republican governors are refusing to accept, but this is middle class earma

house economic council says the president's big plans are exactly what the american people want. a lot at this point on what americans think about it. and the vote coming up. we're people, a bipartisan but the president's proposal already faces fierce pushback from republicans here on capitol hill who say they're against another huge increase government spending nothing is free kansas republican senator roger marshall says more spending will bring more inflation impacts even more folks that are on the senior citizens on a fixed income and create a huge debt. the national republican congressional committee says by 2024. >> the debt as a share of the economy would rise to its highest level in american history. i'm just not comfortable barring more and more money for my grandchildren. but the white house and says the country can't afford the spending if congress agrees to increase taxes on corporations and wealthy americans >> well, actually lower republicans are interested. that's off the table in washington. raquel martin. >> and still ahead on the kron 00:00am morning news giants

house council of economic advisors weighed in on the situation. the way that in our capitalist system so the way that a market economy works is we work to prices as a signal and so wages are the price that we work in the labor market sound that's would be the national way for employers to try to attract employees. and there's a lot to talk about here so do so let's bring in the host of the news with rick sanchez rick sanchez himself or is always a pleasure to have you on the show and i think we talk about issues like this there's a lot of common sense that could be involved so rick what do you make of this shortage that we're seeing right now 1st of all both sides are right and both sides are right many of the indicators that we just saw some of which you were numerated just a minute ago are absolutely true for example i think republicans are correct when they say that the money is there the market has to flush with money that people when people have money in their pockets it makes them less apt to want to go out and start working again obviously

house council of economic advisors weighed in on the situation. the ways it in our capitalist system so the way that a market economy works is we were to places as a signal and so wages are the price that we work in the labor market sound that's would be the national way for employers to try to attract employees. and there's a lot to talk about here so do so let's bring in the host of the news with rick sanchez rick sanchez himself is always a pleasure to have you on the show and i think we talk about issues like this there's a lot of common sense that could be involved so rick what do you make of this shortage that we're seeing right now 1st of all both sides are right and both sides are right that many of the indicators that we just saw some of which you were numerated just a minute ago are absolutely true for example i think republicans are correct when they say that the money is there the market is too flush with money that people when people have money in their pockets it makes them less apt to want to go out and start working again now obvio

house council of economic advisors weighed in on the situation. the ways it in our capitalist system so the way that a market economy works is we were 2 places is the signal and so wages are the price that we work in the labor market sound that's would be the national way for employers to try to attract employees. and there's a lot to talk about here so do so let's bring in the host of the news with rick sanchez rick sanchez himself is always a pleasure to have you on the show and i think when we talk about issues like this there's a lot of common sense that could be involved so rick what do you make of this shortage that we're seeing right now 1st of all both sides are right and both sides are right that many of the indicators that we just saw some of which you were numerated just a minute ago are absolutely true for example i think republicans are correct when they say that the money is there the market is too flush with money that people when people have money in their pockets it makes them less apt to want to go out and start working again now

house council of economic advisors weighed in on the situation. the way that in our capitalist system so the way that a market economy works is we work through prices is the signal and so wages are the price that we work in the labor market sound that's would be the national way for employers to try to attract and please. and there's a lot to talk about here so do so let's bring in the host of the news with rick sanchez rick sanchez himself is always a pleasure to have you on the show and i think when we talk about issues like this there's a lot of common sense that could be involved so rick what do you make of this shortage that we're seeing right now 1st of all both sides are right and both sides are right that many of the indicators that we just saw some of which you were numerated just a minute ago are absolutely true for example i think republicans are correct when they say that the money is there the market is too flush with money that people when people have money in their pockets it makes them less apt to want to go out and start working a

house council of economic advisors weighed in on the situation. the ways it in our capitalist system so the way that a market economy works is we work to prices is the signal and so wages are the price that we work in the labor market sound that's would be the national way for employers to try to attract employees. and there's a lot to talk about here so do so let's bring in the host of the news with rick sanchez rick sanchez himself he's always a pleasure to have you on the show and i think we talk about issues like this there's a lot of common sense that could be involved so rick what do you make of this shortage that we're seeing right now 1st of all both sides are right and both sides are right that many of the indicators that we just saw some of which you were numerated just a minute ago are absolutely true for example i think republicans are correct when they say that the money is there the market is too flush with money that people when people have money in their pockets makes them less apt to want to go out and start working again now obvi

house council of economic advisors weighed in on the situation. the way that in our capitalist system so the way that a market economy works is we work to prices is the signal and so wages are the price that we work in the labor market sound that's would be the national way for employers to try to attract employees. and there's a lot to talk about here so do so let's bring in the host of the news with rick sanchez rick sanchez himself or is always a pleasure to have you on the show and i think we talk about issues like this there's a lot of common sense that could be involved so rick what do you make of this shortage that we're seeing right now 1st of all both sides are right and both sides are right many of the indicators that we just saw some of which you were numerated just a minute ago are absolutely true for example i think republicans are correct when they say that the money is there the market has to flush with money that people when people have money in their pockets it makes them less apt to want to go out and start working again now obvi

host: the chair of the white house council of economic advisors. u.s. inflation sees biggest jump since 2008. we have several calls coming in. kurt is up first from pennsylvania. tell us what is going on in your area. caller: right now my area, gases above three dollars a gallon. which is expected. i think right now pennsylvania has actually the highest tax on gasoline. i think we surpassed california. we are over three dollars a gallon. host: what else are you noticing with other products when you go to the store? caller: other products are slowly increasing. the price of other products are slowly increasing, but a lot of that is due to the basic supply and demand theory. you have a lot of people, a lot of other countries under covid lockdowns. unfortunately they supply a lot of the material we need to do things. so that has increased the price of things. the other thing, with inflation, what causes that is when the government starts handing out a lot of money everybody is flush with cash, the value of cash goes down. so, prices go up. host: what do yo

joining us now is bharat ramamurti the deputy director of the white house of national economic council, he formerly served on the senate staff of senator elizabeth warren. thank you very much for joining us tonight, we really appreciate it. i want to get your reaction first of all to what the president said in ohio today, about republican members of congress taking credit for what you managed to deliver into law in the covid relief bill. was that something, with your experience in congress, that you expected to see happen? >> i think the issue is that there is a lot to try to take credit for. if you look at where the economy was about four months ago when the president was inaugurated and where we are now there is an incredible difference. the three months before the president was inaugurated, we averaged about 60,000 new jobs a month. in the three full months since then we've been averaging 500,000 new jobs. that 1.5 million new jobs over the first three months, no president, in history, has recorded that kind of job growth in their first three months in office. and so, i understand t

jonathan: that was jared bernstein, member of the white house council on economic advisors, on childcare in the united states of america. good morning. alongside tom keene, i'm jonathan ferro. lisa abramowicz will be back with us on monday. a well-earned rest through the whole week. in your equity market, 42= -- your equity market, 4126 on the s&p 500. crude is firmer, up to a $66 handle, $66.03. in the fx market, euro-dollar declining to $1.2126. one hour, 12 minutes away from your cpi print. tom: we are looking at inflation as really the theme of the moment, but there are so many other themes, including how the political landscape of america folds into our economics, our finance, our investment. jordan fabian, our white house reporter, joins us now. i want to go to cornell and the sprawl of the history that you studied in ithaca. where is the republican party right now, from where you sit at the democratic white house? where does the republican party sit as it looks back to 1860 and 1856? jordan: well, i think what the democratic white house would say is they have come along way since

we're joined by a member of the white house council of economic advisers jared bernstein. jobless claims are trending this the right direction certainly, income and consumer spending went up in march, biden's first 100 days saw the strongest stock market performance for a new president since jfk, give us your best argument why america needs to make a huge multi-trillion dollar investment right now. >> because president biden does not judge the well-being of middle class and lower-income americans of communities of color by looking at a week or two in the stock market, or even a year or two. nor do we judge this by even looking at a good quarter of gdp growth, or a tick down in the unemployment claims. we're very happy to see that. and the job growth has been truly impressive, and i think is a very much -- a reason to recognize how well the american rescue plan is both getting checks in pockets and shots in arms. but the difference between that, and a ten-year investment program, to invest in broad band, a safer grid, which the people of texas will know what i'm talking abo

coming up, jared bernstein, member of the white house council of economic advisers. this is bloomberg. ♪ let's check in on the bloomberg first word news. pfizer and biontech have become the first coronavirus makers to ask u.s. regulators for full approval. that is an important step to making the shot a sustainable revenue source. right now, the three shots approved in the u.s. are allowed only for emergency use. that designation can be pulled away at any time. a petition demanding that the tokyo olympics be canceled gains support and japan. the government today extended a state of emergency to control the spread of the virus. prime minister yoshihide suga has been determined to push ahead with the games. others want them canceled or delayed. british prime minister boris johnson has dealt a major blow to his chief political rival. johnson's ruling conservative party won a crushing parliamentary victory. the loss is likely to intensify pressure on labour leader keir starmer. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 jour

joining us now is a member of the white house senior council of economic advisers. jared, let's start with the senior recovery and there's very good news. while there are americans struggling and need our support, this virus is on the run, jobs are coming back. we hear more and more about workers who are not wanting to go back to work because government assistance pays them more than their low wages, gdp nearly 6%, household income up 21%, record save igs for american families, and all of that sounds really good. but at the same time we're asking the american people to spend $4 trillion to get us out of this hole with some saying we're not in a hole. we're getting back to a good place. >> we're still very much climbing out of a hole, but you're right, we're climbing with some irlacquerty, but i think it's important to recognize how deep that hole is. over 8.4 million jobs down from where we were precrisis. and that's a huge problem for working americans. and as you well know, it's not randomly distributed throughout the pay scale, it's affects those low on the pay s

joining us now to discuss, jason fermin, the former chair of the white house council of economic advisers. jason, we are seeing clear evidence of the beginnings of a labor shortage right now. on one hand there's a very clear argument you want more employees, pay them more. and we're going to talk about that. but it's not just the lowest-wage jobs. employers can't fill lots of jobs. does the administration make a mistake with the american rescue plan? less than two months ago, $2 trillion offering the same level of support to the american people they offered a year ago when we needed a lot more support? >> well, stephanie, we are still 11 million jobs short of where we need to go. that's the really big question in the economy right now. there's a lot of people -- things keeping people from jobs. fear of the virus, schools not open, day care. i do think the unemployment insurance benefits are one of those. i wished they were smaller. i wish they were on a down round. i certainly don't wish they could be continued at this level in september. >> do you worry spending $2 trillion less than two

house council of economic advisers under president obama. ellison, to you first, these businesses have completely changed the way they did business over the last year. are they ready to go back? i think ellison doesn't hear us. >> hey, stephanie, i'm not sure -- losing my sound in my ears but i think your question had to do with whether or not business owners are ready for this new normal, if you will. they're certainly ready to talk about it. this is a restaurant that has 14 locations across the gulf coast and even as mask mandates changed locally, they were still requiring their servers to wear face masks, especially as they were interacting with customers at tables, but now the owner of this, he says they're going to reassess that. >> that's something we're going to look at and look at it very, very hard. we'll probably talk to some of our customers. i know our employees are ready to be rid of the masks. as long as our customers feel good about it, and i know they will, that will be something we will be doing. >> and talking to another bu

of economic advisors in the white house estimates that one in 6 mall businesses as closed as stores during the close but recession i estimate as well over 500000 small businesses in the u.s. have gone under these are firms employ 20 people or fewer all added up and that adds up to millions of jobs that have been destroyed there's no work for those workers to go back to as a result of this and amazon cam cannibalism prussia has added alexina of all these political that work to what's list of terrorist extremist groups and then another setback for the jailed kremlin critic his lawyer is facing a criminal investigation ivan pavlov is accused of this close in casa fight information he's defending the volleys anticorruption foundation a against the law also seeking to bend the organization there's been violence across colombia for a 3rd day as demonstrators rally against the controversial tax reform bill the worst of the fighting is happening in the city of cali where buses buildings and even police officers have been set on fire several people have died and more than $100.00 have been i

of economic advisors in the white house estimates that one in 6 mall businesses as closed doors during the code recession i estimate that's well over 500000 small businesses in the u.s. have gone under these are firms employ 20 people or fewer all added up and that adds up to millions of jobs have been destroyed there's no work for those workers to go back to as a result of this and amazon cam cannibalism. people in the philippines are marking the $500.00 from the virus or of a battle that changed an indigenous people's history forever it was the start of if i enjoy zation the move to christianity now the philippines is the 3rd largest catholic population in the world after brazil and mexico jimmy the island open reports in the central philippines with the main celebrations have been held. a reenactment of what happened here 500 years ago in 1521 ferdinand magellan a portuguese explorer and his men docked on the shores of the subaru his intention to baptize local chiefs and her followers and to declare them subservient to spain the local chiefs bowed and were baptized but one of their

of economic advisors in the white house estimates that one in 6 mall businesses as closed as stores during the quote recession i estimate that well over $500000.00 small businesses in the u.s. have gone under these are firms employ 20 people or fewer all added up and that adds up to millions of jobs that have been destroyed there's no work for those workers to go back to as a result of this and amazon cam cannibalism. there's been violence across colombia for a 3rd day as demonstrators rally against a controversial tax reform bill the worst of the fighting is happening in the city of cali where buses buildings and even police officers have been set on fire several people have died and more than $100.00 have been injured protesters say the bill which will lower the threshold for those who have to pay taxes is an attack on the middle class. the president of the democratic republic of congo has declared a quote state of siege in 2 provinces to control escalating violence between armed groups and the mineral rich east this allows the military to temporarily take in troll to maintain ord

here to discuss the post—covid economy is austan goolsbee, former chairman of the white house council of economic advisers under president 0bama, and professor at the university of chicago booth school of business. thank you very much indeed for joining us. 0ptimism is a pretty intangible phrase. what do the figures show us about the discrepancies between the rich and the not so rich? in discrepancies between the rich and the not so rich?— the not so rich? in the us, they show us that — the not so rich? in the us, they show us that over _ the not so rich? in the us, they show us that over the _ the not so rich? in the us, they show us that over the last i the not so rich? in the us, they| show us that over the last 25-30 show us that over the last 25—30 plus years. — show us that over the last 25—30 plus years, that that discrepancy has been — plus years, that that discrepancy has been getting bigger and bigger, and then— has been getting bigger and bigger, and then during the pandemic, because — and then during the pandemic, because high income jobs tend to be work th

coming up on "kudlow" former white house chief economist, former chief economist of the national economic council and he was a special assistant to the president. his name is joe, he's going to explain what a v-shaped recovery is already in place, it has been in place for about a year and why it may be at risk, stay with "kudlow". we're coming right back on the we're coming right back on the other side of the [ crowd cheering ] [ engine revving ] [ race light countdown ] ♪♪ ♪♪ when you save money with allstate you feel like you're winning. safe drivers save 40% saving is easy when you're in good hands. allstate. click or call for a quote today. narrator: covid-19 has changed how we express our faith saving is easy when you're in good hands. and gather to worship. now it's time to take the first step that lets us get back to spreading the word without spreading concern. before we can safely come together, we need the facts. as covid-19 vaccines become available, you may have questions. woman: should i get it? man 1: is it safe? man 2: should i wait? narrator: it's smart to question

council of economic

joining us now, one of the authors of the memo, chair of the white house council of economic advisers, dr. is a celia rouse. a lot of issues surrounding the economy. somehow these payments are leading to some problems in terms of the amount of jobs that are available, the amount of jobs that are being filled. i have seen it on the ground. i have seen restaurants and different places not able to find workers to fill the jobs. and yet, is there an argument that these payments are fulfilling a bigger need? >> absolutely. thank you for having me. the american rescue plan was designed to help the american people get to the other side of the pandemic. it was -- first of all, remember, the american rescue plan has been funding the very effective rollout of the vaccinations, which is why we are all feeling that we are seeing the light at the end of the tunnel and that we can see the end is in sight. it also was funding extended unemployment insurance benefits to help people pay rent, put food on the table and additional assistance to businesses and other employers as well. the idea -- if we g

of economic advisors in the white house estimates that one in 6 small businesses as closed doors during the code recession i estimate that's well over 500000 small businesses in the u.s. have gone under these are firms employ 20 people or fewer well add it up and that adds up to millions of jobs have been destroyed there's no work for those workers to go back to as a result of this and amazon cam cannibalism. people in the philippines are marking the 500th anniversary of a battle that changed an indigenous people's history for it was the start of the evangelical movement the move to christianity now the philippines has the 3rd biggest catholic population in the world after brazil and mexico. reports now from cebu in the central philippines where the main celebrations have been held. a reenactment of what happened here 500 years ago in 1521 ferdinand magellan a portuguese explorer and his men docked on the shores of the subaru his intention to baptize local chiefs and her followers and to declare them subservient to spain the local chiefs bowed and were baptized but one of the rivals. re

council president charles michel says the white house proposal to suspend peyton's on vaccines would not be a magic bullet the leaders have also been discussing how to repair the economic damage done by the pandemic. we should work towards the vaccine becoming a global public product what does that mean firstly producing more that's why i'm calling directly on the united states to end the export ban on the vaccines but also on the components of these vaccines which is preventing production. cuba's health minister has announced a mass vaccination campaign of 1700000 people in the capital starting wednesday the country hopes to have 70 percent of its population inoculated by august it will be using 2 locally made vaccines a night curfew has been in force in heaven or since february and all schools restaurants and bars have been closed the death toll from a brazilian police raid in rio de janeiro is risen to 29 families started burying those killed during the operation on thursday the action targeted suspected drug traffickers in one of the city slums relatives are calling for justice s

president charles michel says the white house proposal to suspend peyton's on vaccines would not be a magic bullet the leaders have also been discussing how to repair the economic damage done by the pandemic util don't ask a successful and your traditional gel we should work towards the vaccine becoming a global public product what does that mean firstly producing more that's why i'm calling directly on the united states to end the export ban on the vaccines but also on the components of these vaccines which is preventing production. the has posted bail for the release of georgia's jailed opposition leader in the hopes of ending a drawn out political crisis nick a male you know was arrested in february in a police raid on these party headquarters which led to protests and accusations of a government crackdown on dissent the political crisis was sparked by parliamentary polls last year which the opposition says were rigged for food shortages in parts of colombia as deliveries of caught up by hundreds of roadblocks set up during more than a week of anti-government protests police offi

the white house also just announced they are seeking a global minimum tax to pay for their endless domestic spending this. as council of economic chair and harvard university lifer cecilia rouse defending the tax. >> internationally we don't want to be be disadvantaged so he is also working with other countries so that we have a minimum tax internationally so that there is not a race to the bottom. >> pete: harvard grad they love fancy praise phrases like race to the bottom. when i think of race to the bottom you i think of my minnesota vikings and when they do every year in the nfc north. the roaring harvard man allow me to translate. she means we can't allow countries to lower their tax rates to entice business. we all must pay more. the global system will be fed. not to mention the globalist climate scheme this white house is obsessed with. we all laughed and then we cried. watching masked up joe biden attempt to convince communist china to give up over a zoom call. maybe he was trying to show solidarity with the residents of beijing who wear masks every day to deal with smog. because, w

house international economic's advise e, former deputy assistant to the president and economic council deputy director and partner. so much has changed in just 120 days on the trade front, on the foreign policy front. you heard cheryl just talking about the -- the upset in the middle east after we are seeing more rockets now going into jerusalem. your thoughts on trade and what will be the focus today in the hearing with katherine ty. i think that two things republicans will focus on and deficienties and that was a hallmark at later stages to have trump administration, recognizing how many consumers live outside the markets trying to open up the agreement and senator crepo telegraphed that he will question her on opening foreign markets and trips waiver. i know we can get into that in great depth but it was a misstep for the biden administration to go ahead and say they will be open to waiving our intellectual protections for covid vaccines. let me put this bluntly. i understand what they are trying to do. we want to help vaccinate the world but the best way to do is to export vaccines

ironically the white house is saying you know what? this is a good thing. the deputy director of the national economic council in an interview yesterday said, quote, when we're hearing stories of businesses have to raise wages to attract workers back. that is a good thing. this is a positive development especially for lower income folks in this country, end quote. the other side firing back at this, asking if this is the way we want to go about boosting those wages, paying people to stay home, forcing businesses to pay more to operate, neil? neil: you know i'm just wondering the ones talk about paying more to operate, you know, some of them have a pay a lot more, huh? >> a lot more. an example of a mcdonald's in florida. they couldn't get people in the door to interview, they were paying them $50 to come in to have a conversation about a job. neil: incredible. different times we live in, great reporting as always, jackie deangelis on that. impact on all of this for the markets if they're worried about some other labor shortage as good worry to have i guess.

over here at the white house they aren't really worried at this point about inflation. here was the chair of the council of economic advisors in the briefing room last week. >> what economists worry about is when inflation becomes deanchored. at the moment it looks as though people fully expect this inflation to be temporary. where temporary is when the economy more fully recovers. but that we understand that they are not structural factors. >> that's the read over here from the white house. when you look under the hood in the april inflation numbers, used car prices were up about 10% year-over-year. that was about a third of that 4.2% reading. >> bill: from the border now, coyotes bringing migrants across the rio grande river. border agents at a loss what they can do legally. what can they do? we'll take you there live in a moment for that. >> dana: new york city pride organizers saying no to police banning the nypd from all events while they preach inclusion. why police say it is disheartening, yes. >> it is not an inclusive message. if this starts here, where does it

are we seeing the right messaging coming from this white house? brian, i will start with you first, it seems that in one sense the white house talks about the importance of these pipelines and any other this is a nonissue, but yet you got gas prices doing this, you can put it up on the screen, gas prices now a month ago, a year ago, this clearly had an impact and drove prices up to what is now about $3 as the national average. >> i think what people really want is they want their political leaders and so-called experts to understand and reflect reality back to people, if people are feeling pain at the pump, if they are seeing prices go up they want leaders who recognize that. the problem right now is you of the administration with a severe case of tunnel vision. on the one hand, it's obvious that pipelines are critical infrastructure, on the other hand the administration is talking about electric vehicles today and not talking about things like cybersecurity around the pipelines. the fact that most people drive gas-powered vehicles and the fact th

the president's council of economic providers. he's a professor at the university of michigan ford school we'll start with you would you say they're still necessary, the extended benefits or do you feel that not only are they not necessary anymore, but they're actually hurting our efforts to get back to full employment >> joe, i think they still are necessary. we have 8 million fewer jobs than we had before the pandemic hit. if we were on the same growth trajectory we'd been on prior to the pandemic, we'd have 10 million more jobs today. think about that, that's 8, 10 million people who are without work we're seeing improvements every day. we're seeing the number of new people filing for unemployment insurance is coming down and, you know, we're seeing the kind of improvement that people are getting back to work but if you cut off benefits, what you're doing is leaving 8 million families without enough money to support themselves. i promise you, you could cut off benefits tomorrow, and you're not going to see 8 million people empl