Tag: Biden
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Economy shrinks for second consecutive quarter as Biden mocks recession ‘chatter’
The U.S. economy shrank for the second straight quarter, but President Biden dismissed concerns of a recession Thursday as “chatter” and plowed ahead with plans for a tax increase and another huge boost in spending over the objections of Republicans, who say those policies have sparked historic inflation and reversed growth. Addressing the nation from…
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Biden unfazed by worse-than-expected GDP
President Biden said he is unsurprised by the worse-than-expected gross domestic product figures reported Thursday and offered assurances that the U.S. economy is on the right path. Second-quarter GDP dropped 0.9%, putting the U.S. in recession territory after the second straight quarter of economic contraction. “Coming off of last year’s historic economic growth – and…
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Biden begs Congress to pass $52 billion semiconductor bill
President Biden on Monday pleaded with Congress to pass a $52 billion payout to semiconductor manufacturers as lawmakers face a make-or-break week to get the bill across the finish line. The White House has, for weeks, been in a full-court press to get the measure passed, urging lawmakers to shed a bevy of tough-on-China measures…