WTF Just Happened Today

Thursday, January 27, 2022

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1/ The U.S. economy grew 5.7% in 2021 – its fastest pace since 1984, when the country was rebounding from a recession and an era of high inflation. From October to December, GDP increased at a 6.9% annualized pace. Consumer spending also jumped to 7.9%, the most since 1946, but consumer prices reached 7% – the fastest year-over-year inflation since 1982. A record-breaking 6.4 million jobs were also added in 2021. (Washington Post / Associated Press / New York Times / Wall Street Journal / Politico / CNBC / Bloomberg / NBC News)

2/ The Biden administration’s coronavirus vaccine mandate for health care workers takes effect in roughly half the U.S. today, and will extend to the rest of the country in coming weeks. The mandate covers about 10 million workers at hospitals and nursing homes that receive Medicare or Medicaid funding. The Supreme Court blocked Biden’s vaccination-or-testing mandate for large employers earlier this month, but upheld a vaccination requirement for health care workers at facilities subsidized by federal funds. These medical facilities will lose funding if they do not comply. (Washington Post / New York Times)

3/ A record 14.5 million Americans signed up for health insurance through the Affordable Care Act for 2022, eclipsing the previous enrollment record by nearly 2 million. “Health care should be a right, not a privilege, for all Americans,” Biden said, crediting the American Rescue Plan that Democrats in Congress passed last year, which increased subsidies and lifted the income cap to allow more people to be eligible for assistance. The enhanced benefits under the $1.9 trillion Covid-19 relief package only last through the end of the year unless Congress takes further action. Biden’s proposed Build Back Better plan would extend the subsidies through 2025. Joe Manchin, however, has repeatedly said he opposes “a historic expansion of social programs” like Build Back Better because, he says, they would only feed inflation. (The Hill / NBC News / Washington Post / CBS News)

4/ Biden formally announced the retirement of Supreme Court Justice Stephen Breyer and reaffirmed his commitment to ...

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