WASHINGTON (AP) — Going into Tuesday’s State of the Union address, President Joe Biden sees a nation with its future aglow.
Republicans take a far bleaker view — that the country is beset by crushing debt and that Biden is largely responsible for inflation. And the GOP now holds a House majority intent on blocking the president.
“Here’s where we stand: The strongest job growth in history,” Biden said. “Put simply, I would argue the Biden economic plan is working.” Zandi said he expects the U.S. economy will “skirt” a recession this year, though many economists believe a downturn will come. The key force shaping the economy right now is the Fed, which has the mission of keeping prices stable and inflation at around 2%. Consumer prices jumped 6.5% last year.
Glenn Kelman, CEO of the real estate brokerage Redfin, said the housing market is stronger than many people expected. But the years of low rates worsened generational inequality. Baby boomers became wealthy as their homes increased in value, but then rates jumped at the time when more millennials wanted to buy and they found themselves priced out.
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State of the Union: Biden sees economic glow, GOP sees gloomGoing into Tuesday’s State of the Union address, President Joe Biden sees a nation with a glowing economic future. But Republicans take a far gloomier view. They say the nation is saddled wit…
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