out. yeah. but how does president biden, if you were advising how would he respond to that argument? when joe biden became president of the unemployment rate was 10%. one in ten americans and have a job unemployment rate was the lowest it has been in 50 years. our economy was growing while other western economies are not growing. so, we are creating jobs. we are growing. manufacturing is coming back. you heard him a lot talk about saying electric vehicles in the united states. we don t have to import them the batteries from china, we are making batteries in the united states. all over the country so, i think american america in decline is not a good message and it s not a true diagnosis. i think first was clears to the truth on this was nikki haley, who said, look, who big deficits in washington. the republicans did trump pence administration deficits. republicans in congress bringing the deficit down, he has been spending money wisely in the economy is doing
you are, how would he respond to that argument? when joe biden became president, the unemployment rate was 10%. one in ten americans did have a job. today, the unemployment rate is the lowest it s been in 50 years. our economy is growing while other western economies are not growing. so, we re getting jobs, we re going. manufacturing is coming back. you heard a lot of talk tonight about electric vehicles. where s trying to make the united states. we don t have to import the batteries from china. we re making the batteries in the united states, all over the country. so, i think, i think american decline is not a good message. it s not a true diagnosis. i think the first thing was close to the truth on this was nikki haley, who said, look, who ran up the big deficits in washington s, republicans? did the trump pence administration ruled a big deficits. support from the democrats in caucus, joe biden has bringing the deficit down, spending our money wisely, and economies do much better
they don t quite get it. sandra: to remind everybody, the heritage foundation is doing, as the president makes comments like that, the cost of inflation and interest rates since the president took office, $7,400. people need to be reminded of that, because we are all paying for this. a lot of people watched that and said who exactly is fiscally demented here, because when it comes to bringing the deficit down, all that happened here was we, our deficit ballooned because of the pandemic, so some of those programs ran out and that s why the deficit came down. actually president biden spent so much money deficit would have come down 750 to 850 billion if he left things alone. the 350 he s talking about is because he spent so much money on top of it. and think about the 6 trillion in spending over the course of two years. that s very fiscally irresponsible. sandra: and by the way, lawmakers are seizing
interest rates are now expected in the city to rise by next august to 5.5%, more than twice their current level. andy verity, bbc news. earlier the bbc s head of statistics gave us more analysis on the detail of the announcements. what you had it during the time of austerity after the financial crisis was a government that was determined to spend less and it was about getting the deficit down, being responsible with public finances, and at that time at the bank of england was doing the opposite with monetary policy and interest rates, keeping them as low as possible to support the economy, so they were fighting each other then. now they have switched places, so the government is doing the expansionary things, spending more money, up to £100 billion extra as a result of the measures today, even though they were not officially called a budget, this was a maxi budget, not a mini budget. because of those measures there more demand into the economy
vaccines. that was the president s program. and we got kids back into school which everybody felt was the right thing to do. so huge victory there. then we passed a bipartisan infrastructure plan that the president was very involved in forging with the senate and the house. unfortunately we only had 13 people vote for it in the house of representatives on the republican side of the aisle. that s a yes? that s a yes. a yes to biden? i ll get to the yes. okay. passed the chips bill. very, very important. the make it in america bill. a bill that s going to make us more competitive in the global community and create hundreds of thousands of jobs along with the infrastructure bill. and now we re passing this bringing cost of health care down, bringing the deficit down, and making the largest investment in history in making sure that we meet the climate challenge that confronts us and bring environmentally sound energy on line. so those are great victories for