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MSNBC Hallie Jackson Reports December 10, 2021 20:07:00

Lincan. there s a generation of americans, a generation and a half who have never seen this big jump in consumer prices. it was before you and i were born. we can safely say this was the last time the prices went up this much was 1982. what s the significance, what s driving it, and what have we heard? reporter: this is broad-based inflation that goes just beyond the pandemic and supply chain concerns and slowing down. so when you look at the numbers it s not just food and gasoline prices that are going up significantly, but you see persistent increases in rent, in shelter, and that really is driving a lot of the concern here, and it s going to put even a bigger question to the fed chair jerome powell next week as to whether or not they taper bond-buying and they take more action to try to curb this kind of inflation, but the numbers are pretty remarkable if you look at beef prices. they re up 21% year over year, ....

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MSNBC Hallie Jackson Reports December 10, 2021 20:09:00

Is that the whole thing? or is there more to it? there is more to it, yes. the supply chain coupled with record consumer demand is driving up prices and there is a subset of the population that did save a lot of money during the pandemic and they are able to pay prices, but that result also means we can t forget the massive unemployment and the food lines we saw during the height of the pandemic and even still now so you really see lower income americans being hit so much harder, higher income americans being able to absorb that cost, and it s a broader issue, and that s why the fed and the treasury are looking at this so closely trying to figure out, you know, how to curb this, but inflation may, some economists believe, you know, it may taper off in terms of the intensity. the rate of growth month to month was less fast compared to last month, but you still see, you know, the records since 1982 ....

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MSNBC Hallie Jackson Reports December 10, 2021 20:15:00

What the fiscal support has been, there are the what we call the fiscal cliff is rather steep in 2022, but le me say the last part. this makes our economy more productive. they increase productivity, increase our capacity, and that s where we get the inflationary pressure going forward. okay, and in one sentence or less, can you tell me what you would say to people when you look at the president s disapproval rating? what do you say to americans who think he s not doing enough? i would say think about where we were this time last year. we have made tremendous progress in this economy. yes, it s been a hard, not just one-year, but a hard 20 months or so. we have progress. we re not through this pandemic, but when we think about where we were, we are doing really very well. thank you so much for joining us from the white house. we appreciate your time this afternoon. please come back. coming up, what to know about that big decision from the supreme court on the texas abortion l ....

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Detailed text transcripts for TV channel - CNN - 20101004:08:13:00

Raising taxes? i think the first step is pick long-term problems. as i argue in the book, seeds of destruction, the entitlement problems are the large fiscal problems. social security is the easiest one to make progress. i think we can say to ourselves, we have a big, unfunded liability there. the burden of that should not be borne by lower income americans but by higher income americans. the way is to slow down growth for higher americans. if we did that, we would give ourselves a lot of fiscal room to move in the short run and long run. there s a tendency in washington to say let s fix everything all at once. we can start with social security and make big progress. stick with us. i want to bring back in candy and jim. listen to president obama this week criticizing efforts to extend bush tax cuts for the wealthy. they want to borrow $700 billion to provide tax cuts for ....

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Detailed text transcripts for TV channel - CNN - 20101003:19:13:00

Government five percentage points of gdp higher than our present tax system can even raise, one of those has to give. in the election, the american people need to speak. if we all collectively want a big government we need to start talking honestly about how to pay for it. talking about how to pay for it. we have to pay for the life we already led has to be paid for essentially. politics aside, this year, down the road, how do we deal with debt in a serious way without raising taxes? i think the first step is pick long-term problems. as i argue in the book, seeds of destruction, the entitlement problems are the large fiscal problems. social security is the easiest one to make progress. i think we can say to ourselves, we have a big, unfunded liability there. the burden of that should not be borne by lower income americans but by higher income americans. the way is to slow down growth for higher americans. if we did that, we would give ....

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