https://www.yahoo.com/news/biden-says-americans-really-really-122643829.html
WASHINGTON – Americans are "really, really down" after two years of a pandemic and amid rising gasoline prices but the economy is in better shape than many think, President Joe Biden said Thursday.
In a rare interview with a news organization, Biden told the Associated Press that a recession is not inevitable and there's "zero evidence" that the $1.9 trillion coronavirus relief package is a main reason prices are high.
"If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher? You ask yourself that? I’m not being a wise guy," Biden said. "Someone should ask themself that question."
Some economists warned that the money pumped into the economy from last year's American Rescue Plan would spark inflation. Republicans have relentlessly attacked Biden for the cost of the plan.
But Biden said employment and wages have gone up under his watch, and people have less credit card debt, more money in their savings account and more job satisfaction.
He also pointed to recent reductions in the federal deficit. The drop is largely due to the ending of expensive COVID-19 programs, such as expanded unemployment insurance, and increased tax revenues from recent economic growth.
USA TODAY/Suffolk poll: Biden approval rating at 39% amid economic fears; 47% 'strongly disapprove'
https://www.yahoo.com/news/biden-says-americans-really-really-122643829.html
WASHINGTON – Americans are "really, really down" after two years of a pandemic and amid rising gasoline prices but the economy is in better shape than many think, President Joe Biden said Thursday.
In a rare interview with a news organization, Biden told the Associated Press that a recession is not inevitable and there's "zero evidence" that the $1.9 trillion coronavirus relief package is a main reason prices are high.
"If it’s my fault, why is it the case in every other major industrial country in the world that inflation is higher? You ask yourself that? I’m not being a wise guy," Biden said. "Someone should ask themself that question."
Some economists warned that the money pumped into the economy from last year's American Rescue Plan would spark inflation. Republicans have relentlessly attacked Biden for the cost of the plan.
But Biden said employment and wages have gone up under his watch, and people have less credit card debt, more money in their savings account and more job satisfaction.
He also pointed to recent reductions in the federal deficit. The drop is largely due to the ending of expensive COVID-19 programs, such as expanded unemployment insurance, and increased tax revenues from recent economic growth.
USA TODAY/Suffolk poll: Biden approval rating at 39% amid economic fears; 47% 'strongly disapprove'
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