Trending Now
We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
{{ subpage.title }}
Ted Cruz's vacation repercussions; Biden's bind on school reopening
Get insights on the latest news in US politics from Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington:
Why is everyone so interested in Ted Cruz's vacation?
Well, the junior Senator from Texas took a little trip down to Cancun with his family this week, which normally wouldn't be that big of a deal, except it was in the middle of historic snowstorm that froze the entire state, left millions without water or electricity.
While other prominent Texas politicians are out trying to help people get water, get access to food, get warm, Cruz took off for Cancun with his family. And this immediately broke on social media causing him to come home the next morning, under the excuse that he was just escorting them down there overnight. But Ted Cruz is officially Twitter's bad guy for the day, and this probably has lasting repercussions, forming popular opinion of him, while the rest of the state freezes.
What is the Biden administration doing to reopen the schools?
Well, the Biden administration is in a bit of a bind because they've been sending conflicting messages. Their CDC director said that it's probably safe for teachers to go back to the school, even without the vaccine. But their political operation has been a little bit more gun-shy in part because of their alliance with the US teachers' unions, who don't want to send their teachers back if there's even a remote possibility that they might get sick. Biden himself has been a little bit mixed in his messaging about when they want to get people back to school, but the $1.9 trillion COVID relief bill that we expect to pass in the next several weeks, includes tens of billions of dollars for school reopenings, on top of the hundreds of billions of dollars that have already been spent in the CARES Act and the December relief bill. So, money is not the problem getting kids back in school right now. It's the willingness of families and the willingness of teachers to take the risk.
Protest against the verdict restricting abortion rights in Warsaw, Poland.
What We’re Watching: Polish abortion protests, US stops Saudi/UAE arms sales, GameStop’s wild run
Poland abortion showdown: Poland's conservative government has moved ahead with controversial restrictions on abortion that set the stage for the return of large protests. The new rules, which prohibit abortion even in cases of severe fetal abnormalities, were first approved by a constitutional tribunal last fall, prompting hundreds of thousands of protesters led by women's groups to hit the streets in the largest demonstrations since the fall of communism in 1989. Faced with that backlash, the government delayed implementing the new rules for several months before abruptly changing course on Wednesday. Even before the new rules, Poland had some of the tightest restrictions on abortion in Europe — last year barely 1,000 women in Poland had the procedure done, with fetal abnormalities accounting for almost all of those cases. Abortion has become a lightning-rod issue in a deeply Catholic country that is increasingly split between the conservative rural areas that form the government's voter base, and liberal big cities where the opposition is strong. We are watching the streets of Warsaw and Krakow to see what happens next.
US arms sales to UAE, Saudis on hold: The Biden administration has paused the planned sale of billions of dollars worth of US arms to Saudi Arabia and the United Arab Emirates in order to conduct a wider review of all pending deals made under former president Trump. This is a common move for new administrations, but it may signal a broader change in recent US foreign policy regarding Yemen, where the Saudi-UAE coalition's five-year campaign against Iran-backed Houthi rebels has contributed to what the UN calls "the world's worst humanitarian crisis." While pressure from US lawmakers to review arms sales to Saudi Arabia grew in 2018 after the murder of Saudi dissident journalist Jamal Khashoggi, the Trump administration held firm. But new US Secretary of State Antony Blinken is on the record criticizing Saudi conduct in Yemen, and many Democrats — who now control Congress — are encouraging Biden to "reset" America's relationship with Saudi Arabia and the UAE. That would rankle Israel, which supports arming both nations to counter Iran's regional influence, and which recently normalized ties with the UAE as part of a US-brokered deal in which the Emiratis would get US fighter jets.
The politics of GameStop: This week, a populist revolt of sorts came to the stock market, of all places, as thousands of anonymous retail stock traders who connected via the social media platform Reddit got together to boost the stock price of video game chain GameStop by more than 700 percent, causing crippling losses for several hedge funds who had bet against the stock via "short" positions. The drama escalated when RobinHood — the no-fee stock trading app used by many of the GameStop buyers — suspended trading of the stock. RobinHood said it was to restore market stability, but the move seemed to allow hedge funds breathing room to recoup their losses, while preventing small-fry investors from continuing their buying spree. Cue: predictable outpouring of populist rage. Politicians of both parties seized on the story to call for tighter regulation of Wall Street, with even mortal political enemies such as Democratic Rep. Alexandria Ocasio-Cortez and Republican Senator Ted Cruz reaching a rare, if fleeting, consensus. There are a lot of potential issues for authorities to look at here, from policing how hedge funds operate, to regulating retail traders differently, to even looking at social media liability in instances of market manipulation. Expect a lot of politics around these issues in the coming weeks.- Updated to correct earlier version, which stated that RobinHood trading suspension prevented day traders from cashing out.