because of the pandemic, when factories shutdown in asia they had no idea they were supplying essential materials to us, shutdown around the world. these small computer chips, the size of your finger tip, they affect nearly everything in our lives. our cell phones. automobiles, refrigerators, weapons systems, everything. america invented these chips we made them smaller, faster and more powerful. but over time we went from producing 40% of the world s chips down to just 10% of them despite leading the world in research and design. you saw what happened during the pandemic when the global economy came to a halt overseas factories that made the chips shutdown driving up the costs for everyone around the world, particularly american families every new car built needs as many as 3,000 of these chips during the pandemic, that s the reason car prices skyrocketed. and in some cases new car production shutdown because the chips were in short supply but now the private sector at home
Gentleman and also the first lady, the president will lay and out his agenda to those lawmakers and to you, the American People. Congressional correspondentd th American People. Aisha hosny is standing by withs a preview of the republican response. But we begin standin with housee house correspondent Jackie Heinrich and a preview of the president s speech tonight. Jacqui good evening, jackie. D good evening, martin. Resident good evening, bret. Well, President Biden directly a assail republicans tonight. Officials have sent ousst memos hitting republicans forro everything from trump tax cuts ,adding to the deficit to proposals for National Abortion bans. Deficit, and also plans to cut social ban security and medicare. Wes an this speech is widely vid as an anchor to a anchor t 2024 announcement, but its not supposed to look like a campaign speech. So the president Will Instealo D frame his achievementsai as progress made against allns odds that needs to be protected and continued. Righ
gentleman and also the first lady, the president will lay and out his agenda to those lawmakers and to you, the american people. congressional correspondentd th american people. aisha hosny is standing by withs a preview of the republican response. but we begin standin with housee house correspondent jackie heinrich and a preview of the president s speech tonight. jacqui good evening, jackie .d good evening, martin.resident good evening, bret. well, president biden directly a assail republicans tonight. officials have sent ousst memos hitting republicans forro everything from trump tax cuts ,adding to the deficit to proposals for national abortion bans. deficit, and also plans to cut social ban security and medicare. wes an this speech is widely vid as an anchor to a anchor t 2024 announcement, but it s not supposed to look like a campaign speech. so the president will instealo d frame his achievementsai as progress made against allns odds that needs to be protected and conti
warning as president biden and president xi jinping talking on thursday as tension continues to grow over taiwan. border officials and lawmakers as the washington, d.c., mayor calls for the national guard to be activated to assist with the migrants they. busses arriving from texas and arizona. president biden there is no surprise economy is slowing down, but he insists he still has the nation on the right path. good evening. good evening, janet. on thursday, they re widely expected announcement of american economy officially entering a recession became a reality because the gdp shrank by 0.9% in april through june, the second quarter of decline, but the president at the white house continue to dispute the traditional definition of recession. president biden: let me greg: to one other issue, gdp. and whether or not we are in a recession. peau chairman powell and many of the significant banking personnel and economists say were not in a recession. come that the white ho