WASHINGTON, Sep 15.- United States President Joe Biden has accused members of the Republican Party of the House of Representatives of following former President Donald Trump’s economic agenda amid a dispute that could end in a government shutdown. , which would paralyze government funds for public services.
“They (the Republicans) are going back to their old ways, breaking their commitment, threatening more cuts and threatening to close the Government again this month,” Biden said in statements reported by the Bloomberg news agency.
Furthermore, the president has stated that ‘Maganomics’ – a term used to refer to Republican supporters of Trump’s economic agenda – intend to implement tax cuts for corporations and the highest incomes at the same time as cutting 700 billion dollars (about 660,000 million euros) from social security and 1,000 million dollars (about 940,000 million euros) from ‘Medicare’, the federal health insurance program.
Despite Biden’s attempts to show the “strength of the American economy” under his Administration, a consumer price index report released Wednesday has shown accelerating inflation and rising mortgage rates.
The negotiations between Republicans and Democrats to agree on the public spending ceiling are paralyzed by the continuous accusations launched by both parties, which must reach an agreement before September 30.
Thus, while Biden has assured that the Republicans intend to break the agreements reached on the spending ceiling, the most conservative Republicans are pressuring the president of the House of Representatives, Kevin McCarthy, to include a stricter border policy in the negotiations, the cessation of financing to Ukraine and the cutting of public spending.
The term ‘maganomics’ is a fusion between Trump’s slogan ‘Make America Great Again’ (MAGA) and ‘economics’; recently, the Biden Administration has begun using the term ‘Bidenomics’ as a counterpoint.
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2023-09-15 06:30:51
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