but no agreement was reached. here s what the leaders of both sides had to say following that high stakes meeting. we agreed to continue our discussions and we will meet again on friday. in the meantime, our staff will meet today and daily between now and then, and everyone in the meeting understood the risk of default. our economy would fall into a significant recession and it would devastate retirement accounts, increase borrowing costs, according to moody s nearly 8 million americans would lose theirjobs. everyone in this meeting reiterated the positions they were at. i did not see new movement. the president said staff would get back together, i was clear to the president. we have two weeks ago. president biden also said that it was possible he might call off his trip to asia if there is no breakthrough on the debt. ryan sweet is the chief us economist at oxford economics i spoke to him a little earlier and he says he s not surprised no deal was reached. this is going t
here s what the leaders of both sides had to say following the high sta kes meeting. we meeting. agreed to continue our discussions we agreed to continue our discussions and we will meet again on friday. in the meantime our staff will meet today and daily between now then and everyone in the meeting understood the risk of default. our economy would fall into a significant recession and it would devastate retirement accounts, increase learning costs, according to reports nearly 8 million americans would lose their jobs. americans would lose their “obs. , ., , jobs. everyone in this meeting reiterated jobs. everyone in this meeting reiterated the jobs. everyone in this meeting reiterated the positions - jobs. everyone in this meeting reiterated the positions they l reiterated the positions they were reiterated the positions they were at reiterated the positions they were at. i did not see movement. the president said staff movement. the president said staff would get
but no agreement was reached. here s what the leaders of both sides had to say following that high stakes meeting. we agreed to continue our discussions and we will meet again on friday. in the meantime, our staff will meet today and daily between now and then, and everyone in the meeting understood the risk of default. our economy would fall into a significant recession and it would devastate retirement accounts, increase borrowing costs, according to moody s nearly 8 million americans would lose theirjobs. everyone in this meeting reiterated the positions they were at. i did not see new movement. the president said staff should get back together. i was clear to the president. we have two weeks to go. president biden also said that it was possible he might call off his trip to asia if there is no breakthrough on the debt. ryan sweet is the chief us economist at oxford economics. he says he s not surprised no deal was reached. this is going to be a game of political chicken.
it is more of a political football that they pass back and forth to try and push one party or the other towards an agreement on spending cuts or other policy or legislation changes that they want. from an economic perspective it does not rein in government spending. think of it as a credit card. this is just the government s credit card limit and they need to raise it to pay or surpass government spending. this is not about future government spending. the simulations that have been done with the oxford economic model, there are large scale government spending cuts if there are any which the republican propose, it will do economic damage. it was shave points off gdp and economy would suffer at a time when it is vulnerable to anything else that goes wrong. ryan sweet from oxford economics.
party or the other towards an agreement on spending cuts or other policy or legislation changes that they want. from an economic perspective it does not rein in government spending. think of it as a credit card. this is just the government s credit card limit and they need to raise it to pay for past government spending. this is not about future government spending. the simulations that have been done with the oxford economic model, if there are large scale government spending cuts which the republican propose, it will do economic damage. it was shave points off gdp and economy would suffer at a time when it is vulnerable to anything else that goes wrong. ryan sweet from oxford economics. goldman sachs has agreed to pay $215 million