President Joe Biden has sustained withering criticism about everything from the economy, to the war in Ukraine.
The GDP shrank by .9% last quarter. This, added to the 1% drop in the previous three months has jangled some nerves about a possible recession. But our current situation is different than the great recession of 2008 or the travesty of the 12% collapse of Trump’s economy in 2020.
This is a clear-headed effort to bring down the inflation that affects all of us. In other words, government entities and market forces are doing their jobs. There will be short term pain as the market place adjusts for long term gains. With that in mind, President Joe Biden has sustained withering criticism about everything from the economy, to the war in Ukraine, to border policy, to street crime, and even efforts to save the planet from climate change. It is noteworthy that he has withstood those attacks and has continued to look for solutions amid the noise.
In addition to climate and energy investments, the $740 billion package extends health care benefits for poor families and provides assistance to help them with the soaring costs of daily necessities. It includes cost reductions for prescription drugs. The bill is a trimmed down version of Biden’s original Build Back Better package and represents a major breakthrough for the president and Democrats hoping for some “wins” before the mid-term elections.
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