and somewhat confusing u.s. economy. new data shows the economy shrank 0.6% in the second quarter, said another way that shrinking slightly less than first thought. the u.s. also is seeing a decrease in the number of people filing for new unemployment benefits, said another way, the labor market is still strong. this comes as americans try to understand what president biden s student loan debt plan what it means for them and their families, even as some members of his own party say it misses the mark. republicans are unified in saying they don t think it is fair, and some economists say that it could fuel inflation. there is a lot to get to. let s begin with cnn s matt egan on this new economic data. what do you see in all this, matt? the economy s spring slump wasn t as bad as feared. second quarter gdp was just revised up by the government, in part because americans spent more money than originally reported. the bad news is that despite this upgrade, the economy still shr
about what happens next now that the judge has this in hand? reporter: it could be some time before we see anything here from this process, this process where the justice department is proposing redactions from this affidavit that would detail the investigation up to the point where they decided they needed to go and search and seize documents out of mar-a-lago. this filing, it did come in under seal. the judge will take a look at it. there could be days or weeks of wagt ahwaiting ahead for us. as this process goes on, the judge is sitting in for the public, the public interest, the historical interest as well. the media and others are pushing for some level of transparency here because of what we already know about this unprecedented search of mar-a-lago. at the same time the justice department we know that they are arguing for a great deal of secrecy around this investigation. it s an ongoing criminal investigation. one that they want to protect. first and foremost, they
u.s. and china deteriorated to their lowest point in decades. real tension, particularly over taiwan. secretary of state antony blinken speaking today with his russian counterpart sergey lavrov. as cnn learned exclusively of plans under way for a prisoner swap, trading convicted russian arms dealer viktor bout for detained wnba star brittney griner and marine veteran paul whelan. we re watching that closely. let s begin with the new gdp numbers, cnn chief business correspondent christine romans is here with more. christine, break down, a lot of numbers not just you but economists follow, this headline number is not good. this is gdp gross domestic product. it is the largest gauge of the size of the economy and it this rank 0.9% in the second quarter. this is a rear view mirror looking picture, and that s after the economy this rank 1.6% in the first quarter, that first quarter was blamed on the omicron variant and how much was going through the economy with supply chain pro
a major energy and health care bill that could breathe new life in his agenda. he urged congress to act quickly and pass it. the fact is that my message to congress is this. this is the strongest bill you can pass to low eriner inflatio tackle costs, and promote energy security, all the time while reducing the burdens facing working class and middle class families. manu raju is on capitol hill for us. manu, how did this come together? reporter: over the last few days, these negotiations between joe manchin and chuck schumer have picked up behind the scenes. in mid-july, the talks broke off for a little bit of time after manchin saw the june inflation numbers about 9%. he came out, he was concerned about it, he indicated he did not want to move forward on climate and energy provisions and tax provisions. at that point, schumer said they could agree on potentially a narrow health care bill. but things changed over the last several days. manchin told a group of reporters e