Joe spoke with former Labor Secretary Tom Perez and former Council of Economic Advisers Chief Economist Douglas Holtz-Eakin on the good and the bad in today's blowout January jobs report. Bloomberg Pentagon Reporter Tony Capaccio on the Chinese surveillance balloon discovered lingering over US airspace, and Craig Singleton, Senior China Fellow at the Foundation for the Defense of Democracies on how this will impact relations with China after Secretary of State Antony Blinken postponed his upcoming trip to Beijing. Plus, our politics panel, Bloomberg Politics Contributor Rick Davis and John Labombard, Senior Vice President at Rokk Solutions on January's surprise jobs report, the Chinese spy balloon, US relations with China, and what to expect from Republican Arkansas Gov. Sarah Huckabee Sanders's response to President Biden’s SOTU address.