Ppe at the start of the pandemic and why it cost the taxpayer an extra £10 billion. Meghan speaks about the unbearable grief of having a miscarriage in july. She says the subject is still taboo. Good evening and welcome to bbc news. The chancellor couldnt have been clearer the uk is entering an economic emergency the likes of which we have not seen for three hundred years. Delivering his Spending Review, rishi sunak spelt out how the financial cost of the pandemic will have a Lasting Impact on the nations finances. The numbers tell the story. Next year, more than two and half Million People could be out of work, and this year alone the government will be borrowing nearly 400 billion pounds. There are tough times ahead for some Public Sector workers in england who can expect a pay freeze, though nhs staff and those earning less than £24,000 will be exempt. But despite the grim forecasts, there was three billion pounds promised for the restart programme to help the unemployed find work
this is nbc nightly news. the u.s. economy is once again in the crosshairs. a downgrade of america s debt by a ratings agency. standard and poors could well impact stock markets around the world tonight and our own tomorrow morning. politicians meantime are debating how the downgrade may affect your pocketbook and whether the u.s. truly deserved it. we have complete coverage tonight. cnbc s washington s john harwood starts us out. reporter: obama administration s officials remain furious about s&p s decision to downgrade debt. but they also have to worry about minimizing its effects. hoping to calm markets, treasury secretary, timothy geithner ended uncertainty about his future, wi announcing he ll remain on job rather than return to new york. in an exclusive interview, git anywhere said u.s. treasuries remain safe and sought to reassure americans worried about interest rates on mortgages and auto loans, while blasting s&p s decision. i think s&p has shown really terr
this is nbc nightly news. th u.s. economy is once again in the crosshairs. a downgrade of america s debt by a ratings agency. standard and poors could well impact stock markets around the world tonight and our own tomorrow morning. politicians meantime are debating how the downgrade may affect your pocketbook and whether the u.s. truly deserved it. we have complete coverage tonight. cnbc s washington s john harwood starts us out. reporter: obama administration s officials remain furious about s&p s decision to downgrade debt. but they also have to worry about minimizing its effects. hoping to calm markets, treasury secretary, timothy geithner ended uncertainty about his future, wi announcing he ll remain on job rather than return to new york. in an exclusive interview, git anywhere said u.s. treasuries remain safe and sought to reassure americans worried about interest rates on mortgages and auto loans, while blasting s&p s decision. i think s&p has shown really terri
about the same amount, sets up a bipartisan committee to find other ways to trim another trillion and change from the deficit. think of it as a deficit posse. it calls for both chamber of commerce eventually to pass a balanced budget amendment to the constitution. they don t actually have to pass it, they just have to vote on it. and the president and house speaker admit that the plan is not perfect, but hey, there s a deadline tomorrow. here s what the president said, then you ll hear from a freshman republican who, by the way, is dressed casually. give him a break, it was late on sunday night. now, is this the deal i would have preferred? no. but this compromise does make a serious downpayment on the deficit reduction we need and gives each party a strong incentive to get a balanced plan done before the end of the year. and to have bold changes to something so systematically broken is going to take time. i understand their frustration. this certainly is not perfect. i w
busy weekend. good morning, august 1st. a lot going on today. it was an agonizing weekend and we were all up late last night. e-mails flying at midnight. it was busy. but things are a little brighter today than they were last night and saturday night and a little brighter. tiny bit. we start with that possible break-through in the debt ceiling crisis. in a few hours the house and senate are expected to vote on a plan by president obama and congressional leaders to raise america s borrowing limit in exchange for massive spending cuts. i want to announce that leaders of both parties in both chambers have reached an agreement that will reduce the deficit and avoid default. the default that would have had a devastating effect on our economy. a sense of what the agreement looks like, going to increase the debt ceiling by up to $2.4 trillion. that is enough to get us through 2012, we hope. the plan also includes $917 billion in immediate spending cuts and it preserves t