THE LATEST ON WHAT’S HAPPENING WITH THE U.S PRESIDENT
President Biden met with civil rights leaders to discuss advancing the prospects of legislation to protect the most fundamental right in a democracy: the right to vote.
But in an 18-minute event in the White House on Friday, with leaders from his Cabinet and top regulatory agencies present, President Biden laid out what are perhaps the most sweeping initiatives in a century.
The changes aimed redefine the rules of the road for America’s economy by promoting competition across American business, enterprise and services.
Lower prices, and increased wages
Biden signed an Executive order outlining 72 initiatives that would, in his words, “Lower prices, to increase wages, and to take another critical step toward an economy that works for everybody.”
Biden gave marching orders to all the affected agencies of government to examine the state of commerce and consumer protection in their jurisdiction. The orders will also promote competition and benefits for working people and consumers.
Biden invoked both Roosevelt Presidents, who both established the framework of the antitrust laws in the United State and reformed American capitalism to save the country during the Great Depression.
“Without healthy competition, big players can change and charge whatever they want and treat you however they want. And for too many Americans, that means accepting a bad deal for things that you can’t go without,” said the president.
“Let me be very clear: Capitalism without competition isn’t capitalism; it’s exploitation.”
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The Biden initiative addresses health care such as prescription drug prices and internet access
It will also address pricing, interstate labor mobility, transport prices and fees, bank mergers and more opportunities for small farmers.
On Big Tech, Biden gave explicit direction to the Federal Trade Commission to address competition issues in the sector.
This program breaks with past practice. Under President Obama, far-reaching economic sand policy reform was central. Especially the passage of Obamacare, Wall Street reform, and trying to enact sweeping energy and climate legislation.
This is broader and deeper: a mandate to all the arms of the government to act now – early in this presidency – to implement policy reforms that will drive more competitiveness.
“Fair competition is was what made America the wealthiest, most innovative nation in history. That’s why people come here to invent things and start new businesses.”
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“In the competition against China and other nations of the 21st century, let’s show that American democracy and the American people can truly out-compete anyone. Because I know that just given half a chance, the American people will never, ever, ever let their country down. Imagine if we give everyone a full and fair chance. That’s what this is all about.”
Biden’s presidency is already marked by success on the pandemic and economic recovery. His programs for infrastructure, education, health care, child support are all in the balance in Congress right now.
But these reforms to American capitalism will also define Biden’s legacy as president.
Bruce Wolpe is a Ticker News US political contributor. He’s a Senior Fellow at the US Studies Centre and has worked with Democrats in Congress during President Barack Obama's first term, and on the staff of Prime Minister Julia Gillard. He has also served as the former PM's chief of staff.
Microsoft and Amazon are facing increased scrutiny over their investments in artificial intelligence firm Anthropic. Concerns are mounting about the growing influence of big tech companies in the AI sector, with critics warning these moves could stifle competition and innovation.
In response, both companies have defended their roles, emphasising the potential benefits of their AI advancements and their commitment to driving progress in the field.
Lives Lost, Neighbourhoods Reduced to Ashes as L.A. Faces Unprecedented Wildfire Crisis
Los Angeles is in the grip of an unprecedented disaster as six wildfires tear through the region, leaving destruction in their wake. The blazes, intensified by unrelenting winds, have turned the city’s iconic landscapes into scenes of devastation. Over 11 lives have been tragically lost, and more than 150,000 residents have been forced to evacuate their homes. Entire neighbourhoods lie in ashes, with nearly 10,000 structures reduced to rubble.
The scars left by these wildfires run deep, not only on the land but also in the hearts of its residents. As families mourn their losses and sift through the ruins of their homes, anger mounts against the authorities responsible for fire management and water supply. Insurance companies, too, are under fire for failing to support those affected.
Los Angeles, a city known for its cinematic triumphs and cultural landmarks, now finds itself the unwilling protagonist of its own disaster movie. Once bustling neighbourhoods now resemble apocalyptic ruins, leaving many questioning what could have been done to prevent such catastrophic loss.
This crisis underscores the increasing threat posed by climate change and the urgent need for more robust fire management and disaster preparedness. As Los Angeles grapples with this catastrophe, the resilience of its people and their ability to rebuild will ultimately define its recovery.
This has been a Ticker News special report. For the latest updates, follow Ticker News online and on all major streaming platforms.
Dutton vows to end waste, boost gas, prioritise safety, criticises Labor and aims to challenge Albanese before upcoming election.
Opposition Leader Peter Dutton has ruled out competing with Labor on temporary handouts aimed at reducing cost-of-living pressures.
In a speech marking his return to work ahead of the May election, Mr Dutton aimed to appeal to middle Australia by promising to cut wasteful spending, increase gas production, and enhance community safety.
He contrasted himself with Prime Minister Anthony Albanese, seeking to label Labor as a one-term government.
Mr Dutton stated that if elected, his first call would be to Israeli Prime Minister Benjamin Netanyahu to restore ties he claims Labor has hindered through its Palestinian support and neglect of antisemitism.
His address lacked new policy announcements but reflected his values shaped by a working-class upbringing in Brisbane.
He accused the Albanese government of prioritising inner-city interests over everyday Australians, including workers, families, and small businesses.
Currently, polls suggest a close race between the Coalition and Labor, potentially leading to a hung parliament and complex negotiations. Labor holds a notional 77 seats in the lower house, while Mr Dutton has 58, needing to regain lost Liberal seats from teal independents.
Infrastructure Minister Catherine King condemned Mr Dutton, arguing he lacks solutions and a comprehensive plan to alleviate cost-of-living issues.
She claimed his political tactics focus on division rather than constructive ideas, adding that he has opposed various measures intended to benefit Australians.
