Jerad Bernstein News Today

get out the dictionary. well define recession for you. here is the bottom line. the biden economy is shrinking as the fed unleashes rapid fire rate hikes to stave off the highest inflation in 40 years. lets get right to it. maria bartiromo joins us now. go ahead and give us the news because they projected .5% on the positive side. the number was a negative .9. >> we are now in recession and we can confirm that because it is two quarters straight of contraction. the economy shrank in th...

Well, too, as the budget moved to surplus. thats a good benchmark. i do want to comment on this notion that wealthy people are paying more and more of the taxes. you know, if you actually look at what theyre paying as a share of their income, its come down. that is their before tax income has grown a lot faster than their tax liability. and for the bottom 60%, 70% of families, they pay more in payroll taxes than federal income tax. its not theyre not paying taxes. its theyre not paying federal i...

Nearly what we need. the president, as you heard him say yesterday, does not believe theres any excuse or reason that anyone in washington should be sitting on their hands and doing nothing. >> reporter: so to that point, moving forward, thomas, we will continue to see president obama try to turn up the heat on republicans to pass his jobs bill. we saw that yesterday when he held that news conference and warned that the economy could slip back into another recession if the jobs bill isnt passed....

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Questions remain in this latest fight, do we, as a country, get our faa back? do those people get to go back to work? will democrats keep refusing to cave on this? but third and most broadly, will the democrats take this as an opportunity to go on offense? will democrats, if they do not cave on this, actually choose to thump their chests a bit, to speak up about what they are doing? will national democrats take a lesson from wisconsin democrats and tell everybody the reason they are standing up ...

United states now as aa-plus with a negative outlook. the decision by standard and poors has launched criticism with not only did they make the wrong call, but that standard and poors basic math may have been wrong in calculating what they needed to calculate in order to decide on this downgrade. later in the show well be joined by jerad bernstein, former chief economic advisor to vice president biden, well get jerads help. well also be joined by some of the top economic reporters in the country...