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Monday, December 27th, 2021

Bank predicts American GDP will go down because Joe Manchin killed the human infrastructure plan

Author:     Sarah K. Burns
Source:     Raw Story
Publication Date:     December 19, 2021
 Link: Bank predicts American GDP will go down because Joe Manchin killed the human infrastructure plan
Stephan:   Here is further confirmation of what Paul Krugman was saying in the previous story. I find Joe Manchin despicable, particularly because he is a senator representing a state in desperate need of what the Build Back Better legislation offers. But equally despicable not a single Republican senator has the integrity to vote affirmatively for this bill, especially Southern Republican senators who represent states that are little more than third world countries that would benefit substantially from Build Back Better.
Manchin urges more time for slimmer budget bill

After Sen. Joe Manchin (D-WV) revealed that he would not support President Joe Biden’s “Build Back Better” plan, which is known as the “human infrastructure” bill, Dow Futures tumbled. Now, a major world bank is warning that they’re readjusting predictions about American GDP.

Sunday evening Investors.com revealed that the stock market is predicted to tumble on Monday. Due to Manchin’s interview with Fox News Sunday morning, the big bank Goldman Sachs gives the Biden bill a less than 50-50 chance of passing Congress. The company then lowered its 2022 GDP forecasts for the United States.

It puts Manchin in a difficult position to single-handedly hurt the U.S. economy, tweeted CNBC Contributor James Pethokoukis.

As Goldman said in the statement, “There is also still a chance that Congress retroactively extends the expanded child tax credit, with some modifications, though we think the odds of this occurring are less than even.”

There is also a concern that anti-vaxxers are also causing COVID-19 to spread and evolve into […]

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