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Biden battles on – Trump Turmoil deepens
As Washington prepares to take its summer break, President Biden continues to battle on the policy and program fronts he has led since Inauguration Day
On his agenda?
- Ending the pandemic
- Restoring the economy
- Pursuing voting rights
- Social equity
- Racial justice
- Gun control
- Confronting climate change
- And restoring America’s leadership in the world
In each area, there is progress – and challenges
With 70% of Americans now vaccinated, the Delta strain is hurting, with infections accelerating to significant levels – but the vaccines work.
This is a pandemic of the unvaccinated
Fewer people still are hospitalized or dead.
The renewed push to get as many as possible protected is now being augmented by mandates from governments and businesses that their employees are to get the jabs as a condition of employment. (This may prove ultimately to be the key for the last mile of protection here in Australia.)
What about the economy?
Employment is up, the economy is growing at over 6%, and wages are increasing, with $15 per hour the new norm in many businesses.
Child poverty is being cut in half, but employment is still not back at pre-Covid levels. Millions who are behind in their rent face possible eviction in the coming weeks.
While Biden has campaigned strongly on protecting voting rights, ending police violence, gun control, greater access to education and tackling global warming, no legislation on those fronts has yet been enacted.
On a foreign front – under Biden’s leadership, America is absolutely back with US alliances strong across Europe and Asia
However, there is turmoil in Afghanistan, prospects have dimmed for a renewed nuclear agreement with Iran, relations with Russia are testy, tensions with China are as intense as ever, and there is no dialogue with North Korea.
In Washington, the toughest tests of Biden’s legislative program are pending right now
He is applying all the lessons learned from his and President Obama’s first term in working his Democrats and those Republicans who are willing to win his policies on infrastructure, education, climate, and health care.
Biden knows that his presidency is in the balance.
As Biden battles on, the man he defeated, Donald Trump, continues to spread turmoil and division.
Trump will not countenance any blame or responsibility for the insurrection at the Capitol on January 6 – an attack intended to stop the certification of Biden’s electoral victory.
Trump’s hold over the Republican Party, and especially the Republican leadership in the House of Representatives, upended the formation of a bipartisan independent commission to examine the threat to democracy posed by Trump.
Trump is determined to remain a potent force in the party, and the decider of its future.
He has raised more money this year than anyone else – over $100 million – and supplicants journey to his homes to pay tribute and seek favour.
Trump is hardly invincible. There are chinks in his cladding. His preferred candidate for a House seat in Texas lost to another Republican Trump declined to endorse.
Damning notes from the Justice Department show Trump’s intense pressure on the Acting Attorney General to declare the election corrupt; he refused.
The Biden Justice Department has ruled that Trump’s tax returns have to be turned over to Congress. Trump attacked the Republicans supporting the bipartisan infrastructure deal with Biden – but the agreement is holding.
In this Washington summer, Biden is steady at the helm, but the waters are choppy. And Trump keeps making waves whenever he plunges into the pool.
Netflix Surpasses Expectations with 9.33 Million New Subscribers in Q1 2024
Netflix stunned analysts and the industry alike with its first-quarter 2024 earnings report, revealing a remarkable surge of 9.33 million paid subscribers, soaring past the anticipated 3.93 million additions and bringing its total subscriber count to an impressive 269.60 million.
This surge follows a record-breaking fourth quarter of 2023, where Netflix added 13.1 million subscribers. Despite this remarkable growth streak, Netflix announced it would cease reporting quarterly subscriber totals from 2025 onward, signalling a significant shift in industry dynamics. Notable contributors to this growth included high-profile releases like the live-action adaptation of “Avatar: The Last Airbender” and “3 Body Problem” by the show-runners behind “Game of Thrones.”
Regionally, the U.S. and Canada saw a growth of 2.53 million paid subscribers, while Europe, the Middle East, and Africa added 2.92 million, Latin America saw an increase of 1.72 million, and the Asia-Pacific market experienced a rise of 2.16 million.
Alongside surpassing subscriber expectations, Netflix exceeded financial projections, reporting a 15% increase in revenue from Q1 2023, with diluted earnings per share of $5.28 on $9.37 billion in revenue.
Looking ahead, Netflix forecasts robust financial performance for Q2, with expectations of $9.49 billion in revenue and diluted EPS of $4.68, aiming for revenue growth of 13% to 15% for the full year 2024, reflecting a bullish outlook on its operational margin.
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