Jun 1, 2017

White House talking points on Paris withdrawal

Andrew Harnik / AP

The White House is spinning the withdrawal from the Paris climate accord by focusing on how Trump is fulfilling a campaign promise, how much it would cost the U.S. to stay in (it's a "BAD" deal for Americans), and how the results from the deal would have been "negligible" anyways, according to documents obtained by Axios.

  • BAD deal: "Topline: The Paris Accord is a BAD deal for Americans"
  • Keeping promises: "[T]he President's action today is keeping his campaign promise to put American workers first."
  • The cost: Meeting the requirements in the Paris deal would cost the U.S. $3 trillion over the next several decades, plus the accord has a "UN Climate Slush Fund underwritten by American taxpayers"
  • The lost jobs: By 2040 the economy would lose 6.5 million industrial sector jobs
  • Claims about coal: "It would effectively decapitate our coal industry, which now supplies about one-third of our electric power"
  • Where the U.S. stands on clean energy: "The U.S. is ALREADY a Clean Energy and Oil & Gas Energy Leader...Since 2006, CO2 emissions have declined by 12 percent, and are expected to decline."
  • The Obama Administration signed the deal "out of desperation," and "the deal was negotiated BADLY, and extracts meaningless commitments from the world's top polluters"
  • Negligible results: Even "if all member nations met their obligations, the impact on the climate would be negligible," according to researchers at MIT.

Go deeper

HBCUs are missing from the discussion on venture capital's diversity

Illustration: Eniola Odetunde/Axios

Venture capital is beginning a belated conversation about its dearth of black investors and support of black founders, but hasn't yet turned its attention to the trivial participation of historically black colleges and universities (HBCUs) as limited partners in funds.

Why it matters: This increases educational and economic inequality, as the vast majority of VC profits go to limited partners.

Unemployment rate falls to 13.3% in May

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. unemployment rate fell to 13.3% in May, with 2.5 million jobs gained, the government said on Friday.

Why it matters: The far better-than-expected numbers show a surprising improvement in the job market, which has been devastated by the coronavirus pandemic.

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

The shocking May jobs report — with a decline in the unemployment rate to 13.3% and more than 2 million jobs added — destroyed expectations of a much worse economic picture.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.