U.S. financial system grows amid recession fears

The president taken a Victory lap and hammering Republicans after the latest data shows the U.S economy is still growing today the Commerce Department said the economy grew at an annual rate of 2.9 percent in the last quarter of 2022 that is despite the fed's continued rate hikes and concerns about a possible recession President Biden wasting no.

Time taking credit for the bright spots in the economy and going after economic plans that have been floated by House Republicans jobs are the highest in America number in the highest in American history and wages are up and they're growing faster than inflation over the past six months inflation has gone down every month what.

In God's name would the Americans give up the progress we've made for the chaos they're suggesting they want to impose a 30 percent national sales tax on everything from food clothing school supplies housing cars you've got to cut yourself they want to cut your Social Security Medicare but I will not let anyone use the full faith and credit of.

The United States as a bargain ship the United States of America we pay our debts as the New York Times points out that speech was a potential preview of Biden's themes for a possible 2024 re-election campaign it also comes as the White House and House Republicans are still deadlocked in a standoff over.

Raising the debt limit and potential spending cuts but even as the GOP pushes for the cuts here's the thing they haven't actually laid out any specifics House Republicans are saying is we should be taking a look at our spending priorities on Capitol Hill because when you run out of room to borrow funds the first thing you do is you look at your.

Spending habits you don't say give me more money to borrow we're ready to sit down and have that discussion and be responsible be sensible and be reasonable to get this thing done with uh important necessary spending reforms that'll put this country at a better track we are going back to fiscal year 22 spending levels but think about this.

Maria that's what we were spending just over three weeks ago we have to get our house in order have President Biden come to the table okay yeah keep thinking about it Maria and talk about the spending plans when you set a budget which happened months ago we have said it before and we will say it again raising the debt limit is.

Not about future spending it is simply about paying for what you've already agreed to the White House said there will be absolutely no negotiating over the debt ceiling but here's the scary thing treasury secretary Janet Yellen has told Congress repeatedly that it has until early June to avoid default foreign.

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