And at the same time- make sure that we- we are- are able to continue to grow. We hope we can have what they say, "a soft landing," a transition to a place where we don't lose the gains that I ran to make in the first place for middle-class folks, being able to generate good-paying jobs and- expansion. Scott Pelley: Is the economy going to get worse before it gets better? troops would defend Taiwan, but White House says this is not official U.S. President Biden says he hasn't decided on 2024 reelection run.President Biden discusses the tax code, MAGA Republicans, and China.And look down the road, we have mas- massive investments being made in computer chips and- and employment. We're in a situation where manufacturing is coming back to the United States in a big way. We're in a situation where the- the unemployment rate is about 3.7%. The fact is that we've created 10 million new jobs. And in the meantime, we created all these jobs and- and prices- have- have gone up, but they've come down for energy. It has just barely- it's been basically even. We're in a position where, for the last several months, it hasn't spiked. Scott Pelley: It's the highest inflation rate, Mr. Inflation rate month to month was just- just an inch, hardly at all, President Joe Biden: Well, first of all, let's put this in perspective. People are shocked by their grocery bills. President, as you know, last Tuesday the annual inflation rate came in at 8.3%. The president made news and will ignite a few controversies. At the White House on Thursday, we spoke to President Biden about the economy, Ukraine, those top secret documents in Donald Trump's home and whether Mr. The Dow plummeted nearly 1,300 points after a dismal inflation report. But Tuesday, as James Taylor sang "Fire and Rain," it seemed like both descended on the president's party. Then, in August, over Republican objections, he signed the largest investment ever on climate change, a minimum tax on corporations, a law to lower prescription drug prices, and student loan forgiveness. Biden's streak began in June when he signed a bipartisan gun safety law. But he will likely face constraints in implementing his massive economic plan with a slim Democratic majority in the Senate.īiden's climate plan includes goals to transition from fossil fuels to clean energy, cut emissions from electric power to zero by 2035 and reach net-zero emissions by 2050.Summer was going so well for the president the White House threw a party last week with a concert by James Taylor. "The climate and wildlife extinction crises demand this kind of bold, urgent action."īiden is also establishing climate change as a national security priority and maintaining a focus on green job creation and environmental justice for those most vulnerable to climate change.īiden is expected to sign additional executive orders to dismantle the Trump administration's climate policy reversals. "We're thrilled President Biden is quickly honoring his pledge to stop new fossil fuel leasing of our federal lands and waters," said Kierán Suckling, executive director of the Center for Biological Diversity. "Penalizing the oil and gas industry kills good-paying American jobs, hurts our already struggling economy, makes our country more reliant on foreign energy sources, and impacts those who rely on affordable and reliable energy," Anne Bradbury, president of the American Exploration and Production Council, said in a statement.Įnvironmental groups, who have long pushed for the changes sought by Biden, praised the orders. More from CNBC Environment : Biden rejoins the Paris climate accord in first move to tackle global warming 2020 was one of the hottest years on record, tied with 2016 UN warns nations of major economic damage without more climate action Oil and gas producers have strongly opposed Biden's move and are expected to challenge the order in court. Drilling on public lands generates billions of dollars in revenue but comprises roughly a quarter of the country's greenhouse gas emissions. He has also pushed to implement a $2 trillion climate plan.īiden's moratorium on oil and gas leases won't end fossil fuel extraction since industry leaders currently hold undeveloped leases. Progress on reductions essentially halted during the Trump administration, which minimized the role of climate change and weakened more than 100 environmental regulations in favor of fossil fuel producers.īiden, who has assembled the largest-ever White House team of climate experts, has vowed to unveil more ambitious targets at the major U.N. vowed to curb emissions between 26% and 28% below 2005 levels by 2025 but has failed to come anywhere near that goal. Personal Loans for 670 Credit Score or Lowerĭuring Barack Obama's presidency, the U.S. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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