- July 31, 2022
- Posted by: Stratford Team
- Category: Economy
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President Biden notched a series of unexpected policy wins just hours after emerging from his covid-19 isolation last Wednesday: Democratic senators announced a startling breakthrough on his long-stalled climate agenda. A multibillion-dollar bill to subsidize computer chip manufacturers was on the cusp of becoming law. And a measure to make some prescription drugs cheaper gained momentum.
But all of that crashed into the news the very next day that the economy contracted for a second straight quarter. Biden and his top aides have spent much of the past few days arguing that the country is not entering a recession, pointing to strong economic indicators such as job growth and low unemployment, but that didn’t stop Republicans from decrying the “Biden recession.”
Now the question becomes whether Biden’s run of legislative wins — particularly if Democrats manage to pass their health-care, climate and clean energy bill,…
