Trump's BLS nominee suggests suspending jobs report
Why it matters: It's one of the world's most fundamental pieces of data, crucial for investors to understand the health of the U.S. economy.
Catch up quick: Antoni made the suggestion in an interview with Fox News Digital on August 4 in response to concerns over the report's accuracy.
What they're saying:"How on Earth are businesses supposed to plan — or how is the Fed supposed to conduct monetary policy — when they don't know how many jobs are being added or lost in our economy? It's a serious problem that needs to be fixed immediately," Antoni told Fox.
The other side: Economists were quick to slam Antoni's suggestion.
"That would (be) a serious mistake in my estimation. It would only fuel critiques of a politicization of job market data and likely result in volatility across asset classes," RSM US chief economist Joe Brusuelas tells Axios.
"One gets the sense that comments like that will cause US Senators to question his wisdom, qualifications and suitability for the job."
The intrigue: The jobs report isn't the only major government program facing Antoni's scrutiny.
In a 2024 interview he called Social Security a "Ponzi scheme" that would eventually collapse.
"Eventually, you need to sunset the program," he said, while emphasizing that there is still money to pay for folks who are already retired. But for people retiring decades from now, "the program is not going to be viable."
As the Urban Institute points out, Social Security isn't a Ponzi scheme — it's not based on a lie, and the pool of contributors will never run dry.
By the numbers: Markets mostly looked past Antoni's suggestion on the jobs data, staying broadly higher in early afternoon trading on the back of an earlier report indicating inflation was not heating up quite as badly as feared.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
a minute ago
- Los Angeles Times
Sylvester Stallone, Kiss among Kennedy Center honorees, Trump to host ceremony
President Trump on Wednesday announced his picks for Kennedy Center honorees and said that he will host the ceremony himself — a first for any president. Action star Sylvester Stallone, the glam rock band Kiss, disco singer Gloria Gaynor, country music star George Strait and English actor and comedian Michael Crawford made the list. The Kennedy Center Honors, which recognize lifetime achievement in the performing arts have been given annually since 1978, are the highlight of the center's season each December. The award is considered a career highlight for the performers who receive it. Past honorees have included Leonard Bernstein, Dizzy Gillespie, James Brown and Meryl Streep, among others. 'I want to congratulate all the nominees. They're unbelievable people, and we're going to have a tremendous day in December,' said Trump in a rambling news conference that began with him unveiling five velvet-draped portraits. It went on to include mentions of his recent deployment of the National Guard to Washington, D.C., his contention that the 2020 election was stolen, his disdain for Democrats and his upcoming meeting with Russian President Vladimir Putin. Trump said he was '98% involved' in the selection of the honorees. 'I turned down plenty, this is very different than it used to be, these are great people,' Trump said, before adding that he didn't want to politicize the awards. The Academy Awards went, 'woke' he said, and added that the ceremony's ratings tanked. Some culture watchers might be surprised by Trump's choices, particularly that of KISS. Trump fired bassist Gene Simmons during the first season of 'The Celebrity Apprentice.' Simmons went on to support Trump during his first term, but later spoke out sharply against him in an interview with Spin magazine. Stallone, however, made sense. He's one of the actors, alongside Mel Gibson and Jon Voight, Trump named as 'special ambassadors' to Hollywood. His goal: to bring the film business back to Hollywood, 'which has lost much business over the last four years to Foreign Countries.' Trump's announcement, including his unusual decision to host, capped a tumultuous eight months at the Kennedy Center, beginning in early February when Trump sent the arts world reeling by announcing his intention to appoint himself chairman of the board and terminate members of the board of trustees 'who do not share our Vision for a Golden Age in Arts and Culture.' Trump named a former ambassador to Germany, Richard Grenell, as interim executive director and the center began rupturing marquee names, including TV producer Shonda Rhimes, musician Ben Folds and opera star Renée Fleming. Trump's takeover of the center came after he actively shunned it during his first term. In 2017, he and First Lady Melania Trump skipped the Kennedy Center Honors after being criticized by honorees, marking only the fourth time in the organization's history that a president was not in attendance. During his first visit to the center as chairman in March, Trump said he didn't like the musical 'Hamilton' and said big Broadway shows were going to be the future of the center. He soon attended a performance of 'Les Miserables,' famously declining to say whether he identified more with more with protagonist Jean Valjean or the cruel police inspector Javert.
The Hill
a minute ago
- The Hill
Federal authority over DC is nothing new, and it is needed again
President Trump this week moved from rhetoric to action in his push for more federal control of Washington, D.C. Citing a ' public safety emergency,' he is deploying National Guard troops to support federal officers already in place, taking direct control of the city's police department under a provision of the 1973 Home Rule Act, and pledging to 'get rid of the slums.' Democrats' reaction has been swift and condemnatory. They cast the move as the latest instance of his authoritarian overreach. 'This is what dictators do,' California Gov. Gavin Newsom proclaimed on X. House Minority Leader Hakeem Jeffries (D-N.Y.) said the move had ' no basis in law.' The New York Times ran the headline: 'Trump threatens federal takeover of Washington after Member of DOGE is Assaulted.' In reality, the Constitution not only allows this but anticipates federal intervention in the capital's affairs, at least in some circumstances. That's because the District of Columbia was created precisely so that the seat of government would not depend on any state for its security, funding or order. Washington is not a state and never has been. Article I, Section 8 of the Constitution grants Congress the power to 'exercise exclusive legislation in all cases whatsoever' over the District. This is a sweeping authority that has been used repeatedly. Local self-government in D.C. is a modern experiment, not an inalienable right. Until the 1973 District of Columbia Home Rule Act, the city was run directly by federally appointed officials. The 1801 Organic Act placed Washington under congressional control; in the 1870s, Congress briefly allowed a territorial-style government, but after mismanagement and debt spiraled, it reimposed direct federal rule. Even under home rule, Congress has retained authority to override local laws, control the District's budget, and, in emergencies, reassert direct control, as it did from 1995 to 2001 through a Financial Control Board during a local fiscal crisis. A president cannot unilaterally abolish home rule, but he can press Congress to act, and he can invoke his existing emergency powers. Trump's actions pursue those avenues and certainly don't defy the Constitution. For example, the Home Rule Act explicitly allows the president to assume control of the police if 'special conditions of an emergency nature exist.' Trump's order triggers that provision. Although Washington Mayor Muriel Bowser argues those conditions do not exist, the statute leaves it to the federal government's discretion. The case for intervention is straightforward: D.C. has an image problem utterly unfit for its role as the nation's capital. It consistently ranks among the most dangerous cities in America. Annual homicides were just under 200 last year and more than twice their level in 2012, despite Bowser's rote claims of 'declining crime.' What decline there is mostly reflects the nationwide post-COVID drop in crime rather than any uniquely successful policy. High-profile incidents underscore the issue. Rep. Henry Cuellar (D-Texas) was carjacked at gunpoint near Capitol Hill. Around the same time, the Secret Service vehicle assigned to Naomi Biden — the granddaughter of the then-president — was broken into in Georgetown, which is arguably the nicest part of the city. Rep. Angie Craig (D-Minn.) was assaulted by a homeless man in the elevator of her apartment building. Federal employees, foreign diplomats and tourists face the same risks as residents. Many residents and much of the press speak as if the city belongs exclusively to its 700,000 inhabitants and their mayor. But the capital was never meant to be insulated from national accountability. Congress intended the District to be a showcase of national governance, and the question is whether the current model of home rule without meaningful federal oversight is meeting that standard. Such disorder compels one to ask whether Congress's responsibility to 'exercise exclusive legislation' has been neglected. Precedent shows that when D.C. cannot ensure stability against, as Trump described Monday, 'crime, bloodshed, bedlam and squalor and worse,' federal reengagement is both lawful and at times necessary. If opponents reject Trump's vision for federal involvement, they should make the substantive case for how home rule can be reformed to meet the moment. But it is disingenuous to suggest the Constitution forbids such intervention. If Congress refuses to act, the city's fate will rest on whatever limited tools the executive already possesses. As for Newsom's lecture on 'what dictators do,' perhaps the first governor to lock down his state during COVID and the last to reopen schools — the man who turned the nation's largest state into a poster child for woke dysfunction — should sit this one out. Trump has answered the question of whether he'll use his constitutional tools. The progressive left must now decide whether to produce a plan for home rule that works or just keep shouting 'authoritarian' while the capital continues to decline.
The Hill
a minute ago
- The Hill
Trump looks to extend DC police takeover beyond 30 days
President Trump on Wednesday said he'll seek 'long-term extensions' from Congress to extend his federal takeover of the Washington, D.C., police amid his crackdown on crime in the nation's capital, declining to rule out the possibility of a national emergency. 'Well, if it's a national emergency, we can do it without Congress,' Trump said, when asked about whether he's talked to the House and Senate about extending the takeover. He added that he expects to be before Congress 'very quickly' and snag Republican support. Trump on Monday put the Metropolitan Police Department (MPD) under federal control and activated National Guard troops, painting the district as being ravaged by violent crime. To do so, he invoked an emergency provision of the Home Rule Act, which lets the president take temporary control of the District's police in emergency conditions. Congress must pass a joint resolution to extend it beyond 30 days. Speaking to reporters at the Kennedy Center on Wednesday, Trump said he's aiming to go before Congress with a crime bill that will 'pertain initially to D.C.' but serve as a 'very positive example' for elsewhere. 'And we're going to be asking for an extension on that, long-term extensions, because you can't have 30 days. Thirty days is, that's, by the time you do it — we're going to have this in good shape. … We're going to do this very quickly, but we're going to want extensions,' Trump said. 'I don't want to call a national emergency. If I have to, I will. But I think the Republicans in Congress will approve this pretty much unanimously.' D.C. Mayor Muriel Bowser (D) has hit back at Trump's move, calling it an 'authoritarian push' by the administration. The Democratic Mayors Association called it a 'political charade' that doesn't match up with the actual crime statistics in the District.
