Jared Bernstein A News Today

Administration officials briefing reporters. it is after the presidents remarks last hour on the budget and among the headlines, beyond the q&a piece, the conversation about ukraine and the remarks on vladimir putin, also the meat and potatoes of the budget. a billionaires tax rate. i want to bring in now jared bernstein a member of president bidens advisers. good afternoon. >> great to be here. thank you for inviting me on. >> the minimum tax for very rich americans to apply to people with more...

Economic growth? theyre not talking about cutting defense. theyre talking about cutting programs and government spending in areas that are just not programs. they deal with people. if those folks lose their jobs that just happen to be in the government, which means they then cant spend their paychecks in communities which has a ripple effect, but i leave it to the economist. >> theres two di mentions to what jonathan was just saying. first of all, youre right, when you start cutting too deeply, ...

Signs in domestic auto sales and the housing market, but one of the arguments weve been making is that the short-term fixes like today that was voted on today, this sort of lurching from three-month agreement to two-month agreement to however long agreement they can get, that that actually also erodes confidence and frankly the markets dont seem to like that. >> no, they dont. and while, yes, you get a short-term benefit by putting off this sort of doomsday armageddon discussion until may, but a...

Moments ago the debt ceiling compromise passed the senate. thats a fiscal crisis temporarily averted. it comes just a day after we learn that gdp, thats the mesh shush of how well our economy is performing, contracted by 0.1%. here is how some of the financial media covered it. quote, the best looking contraction in gdp you will ever see. and, quote, dont freak out about gdp. so whats going on here? less government spending happened. primarily in defense. that overshadowed more spending on the p...