Stories tagged: "economy"


President Joe Biden delivers remarks on the economy, Wednesday, June 28, 2023, at the Old Post Office in Chicago. (AP Photo/Charles Rex Arbogast)
What ‘Bidenomics’ Means for Workers and Families

US Department of Labor Chief Economist Joelle Gamble explains what "Bidenomics" means and how the president's investments are helping workers and the economy.

FILE - Speaker of the House Kevin McCarthy, R-Calif., speaks at the Capitol in Washington, Thursday, April 20, 2023. The Democratic president and Republican congressional leader have each tried to assure the public in recent weeks that they don't want the government of the world's largest economy to default. But President Joe Biden has resisted McCarthy's calls for negotiations, while McCarthy is pushing a plan that can't pass the Democratic-majority Senate. (AP Photo/J. Scott Applewhite, File)
What Happens if America Defaults on Its Debt?

If the country defaults on its debt, millions of people would lose their jobs, retirement accounts would be decimated, Social Security payments could be delayed, Medicare and Medicaid benefits could be affected, and military members could see paychecks delayed.

President Joe Biden speaks about his 2024 proposed budget at the Finishing Trades Institute, Thursday, March 9, 2023, in Philadelphia. (AP Photo/Matt Rourke)
Biden’s Budget Would Tax Billionaires, Corporations to Strengthen Medicare, Expand Child Care, and Help Families

Republicans immediately rejected Biden's plan, but have yet to release their own budget. They have made it clear, however, that they want to apply deep spending cuts to everything from health insurance to food assistance benefits.

President Joe Biden delivers the State of the Union address to a joint session of Congress at the U.S. Capitol, Tuesday, Feb. 7, 2023, in Washington, as Vice President Kamala Harris and House Speaker Kevin McCarthy of Calif., applaud. (Jacquelyn Martin, Pool)
‘A Blue-Collar Blueprint to Rebuild America: 7 Takeaways From Biden’s State of the Union‘

Biden’s blueprint includes several recently passed laws which are expected to create millions of good-paying jobs in construction, manufacturing, and other sectors. 

Speaker of the House Kevin McCarthy, R-Calif., speaks during a news conference in Statuary Hall at the Capitol in Washington, Thursday, Jan. 12, 2023. (AP Photo/Jose Luis Magana)
MAGA Republicans Plan to Hold the Economy Hostage to Cut Social Security and Medicare

The debt ceiling is a numerical limit, set by Congress, on how much money the federal government can borrow to pay its bills. Increasing the debt ceiling is a routine congressional task, but Republicans want to hold it hostage to make cuts to Social Security and Medicare, even though failing to raise the limit would cause massive economic devastation.

AP Photo/Carolyn Kaster, File
10 Ways the Federal Government Delivered for American Workers and Families This Year

Under Democratic control, the federal government acted to lower healthcare and prescription drug costs; fight climate change and lower energy costs; invest in gun safety and mental healthcare; and implement a generational investment in American industry, manufacturing, and infrastructure.

FILE - Freight train cars sit in a Norfolk Southern rail yard on Sept. 14, 2022, in Atlanta. The Biden administration is saying the U.S. economy would face a severe economic shock if senators don't pass legislation this week to avert a rail worker strike. The administration is delivering that message personally to Democratic senators in a closed-door session Thursday, Dec. 1.  (AP Photo/Danny Karnik, File)
Biden Signs Bill to Block Rail Strike to Protect Economy; Senate Voted Down Effort to Give Rail Workers Paid Sick Days

Democratic lawmakers tried to pass a second bill that would have added paid sick days to the agreement, but were unable to reach the 60-vote threshold needed in the Senate, due to most Republican senators opposing the measure.