Economics (420)

Wednesday, 10 August 2022 01:15

'God Knows What's Inside': Biden's Spending Bill Speech

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President Biden appeared unfamiliar Monday with the specifics of the massive spending bill called the Inflation Reduction Act that Senate Democrats passed Sunday, stating it funds healthcare “and God knows what else.”

Sen. Ted Cruz (R-TX) criticized Democrats over details in a reconciliation bill that would add 87,000 more IRS workers.

Sen. Ted Cruz (R-TX) criticized Democrats over details in a reconciliation bill that would add 87,000 more IRS workers.

Opposing claims from Senate Democrats, a report from the independent Congressional Budget Office (CBO) suggests that the steps in the $740 billion Inflation Reduction Act of 2022 (IRA) would have a marginal to negative impact on inflation.

With every product getting costlier, Americans are cutting corners in their lives by potentially cutting their life span, according to a Gallup poll conducted for a healthcare advocacy group.

Gas prices have been falling since mid-June as demand has dropped to levels not seen since the early days of the pandemic, according to AAA.

One might think with all the money Biden is sending to Ukraine, something other than assistance to fight Russia is going on. It has not been one package, not two, not even three in the five and a half months since Putin launched his offensive, no Joe Biden has committed money to Ukraine more than 6 times, and some are starting to ask questions that relate to Hunter Biden.

More than four in ten Americans have been compelled to save on everyday habits and items, including the number of groceries they buy, as a result of severe inflation, a recent Suffolk University/USA TODAY survey found.

Treasury Secretary Janet Yellen thinks that the positive factors adding to the American economy possibly carry more weight than negative gross domestic product (GDP) growth for consecutive quarters.

House Minority Leader Kevin McCarthy (R-CA) denounced Democrats on Thursday, saying the party led the United States into a recession after the latest GDP analysis showed the economy declined for the second consecutive quarter.

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