plus the u.s. and russia debating a prisoner swap. antony blinken speaking with sergey lavrov. and a breakthrough on capitol hill. chuck shchumer and joe manchin striking a deal after a year of negotiations. there s a lot in this bill, including tax changes. we begin with major developments on the u.s. economy. the gross domestic product fell 0.9%, following a 1.6% drop in the first part of this your, blamed in part on the omicron surge, all of this adding to fears the u.s. could be in a recession. joining me to talk about all this, white house national economic director brian dees. good morning. thanks for taking the time this morning. happy to be here. two consecutive quarters of negative growth. every period since 1948 of two straight negative quarters of gdp has coincided with a recession. in every prior recession in the united states, we have lost jobs. and over the course of the year we have gained 2.7 million jobs. the unemployment rate is 3.6%. there s only be
Whatever the outcome of the current House-Senate conference onMedicare legislation, taxpayers can depend on one thing: The costprojections of the Medicare drug entitlement keep rising.
The Congressional Budget Office estimates that the Senate Medicareprescription drug bill will cost $400 billion over the next 10years. This cost, however, is not the whole story.
plus the u.s. and russia debating a prisoner swap. antony blinken speaking with sergey lavrov. and a breakthrough on capitol hill. chuck shchumer and joe manchin striking a deal after a year of negotiations. there s a lot in this bill, including tax changes. we begin with major developments on the u.s. economy. the gross domestic product fell 0.9%, following a 1.6% drop in the first part of this your, blamed in part on the omicron surge, all of this adding to fears the u.s. could be in a recession. joining me to talk about all this, white house national economic director brian dees. good morning. thanks for taking the time this
corporations. senator, thanks so much for joining us. i wonder just until a few days ago, this deal was considered dead in the water. how did it come together at this late hours? it s a testimony to never giving up. i didn t give up. my staff never gave up. we continue to negotiate with senator manchin, not just on methane emissions reductions but other aspects of it. we worked with our caucus and senator schuman and that of his staff and leave it to joe manchin to find the middle and address climate change in ways that create jobs and economic opportunity. it paid for, it s deficit neutral and on inflation, it s helpful in combatting inflation. so it s an amazing development