House Republicans’ plan to majorly slash federal spending over the next decade as a supposed “solution” to the national debt would likely cost millions of jobs and trigger a recession next year.
to propose a budget that would put the U.S. “on a path to a balanced budget” within the decade.
If Republicans follow through with this plan, the report finds, it would almost certainly cause a recession in 2024, costing the U.S. 2.6 million jobs and pushing unemployment to nearly 6 percent. It would also cause the country’s GDP to lower by 2.7 percent within the next 10 years. The details of these cuts aren’t clear, but Moody’s assumed that the cuts — amounting to $16 trillion — would be to Medicaid and other non-defense discretionary programs., Republicans have presented budget cuts as their alternative to blocking legislation to raise the debt ceiling, which would have even more disastrous results.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The debt-limit time machine: What the last 10 big fights tell us about this oneA decade filled with fiscal standoffs shows us three telling truths about how Congress and the White House might handle the current impasse — no DeLorean needed.
Consulte Mais informação »
The Kevin McCarthy aide tasked with defusing the GOP’s debt limit bombDan Meyer, the speaker’s chief of staff, has seen tense budget standoffs before. But the Republican Party has changed since then.
Consulte Mais informação »
LIVE: Senate committee hearing examines the economic consequences of the federal debt limit — 3/7/23The Senate Committee On Banking, Housing, And Urban Affairs holds a hearing discussing the federal debt limit and its economic consequences. Witnesses testif...
Consulte Mais informação »
Dear Abby: Do I have to let my husband’s grudge limit our family life?He has a problem with the other grandparents, but my son doesn’t know it.
Consulte Mais informação »
Hotter and drier conditions limit forest recovery from wildfiresWarmer and drier climate conditions in western U.S. forests are making it less likely that trees can regenerate after wildfires, according to new research published in the Proceedings of the National Academy of Sciences.
Consulte Mais informação »
TikTok to limit the time teens can be on the app. Will safeguards help protect them?NPR's A Martinez talks to psychologist Jelena Kecmanovic, who specializes in tween and teens and social media use, about TikTok's changes that are meant to help teens limit their screen time.
Consulte Mais informação »