Alternative Visions- Final Debt Ceiling Deal, May Jobs Report & Fed’s Next Moves
Alternative Visions - A podcast by Progressive Radio Network - Mondays
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The May jobs report: why one govt survey shows 339K new jobs and another shows -440k more unemployment. The final version of the Debt Ceiling deal is then reviewed, including last minute Senate additions requiring retroactive student debt interest payments. The Deal as classic Neoliberal capitalist fiscal policy: Pentagon gets $886B (+more in ’24). Discretionary social spending gets cut $2.1T (18%). No tax hikes to pay for projected further $4T deficits & debt (at $35T or more in 2025) Other details of Deal. Rasmus then discusses whether Fed will ‘pause, skip or raise’ interest rates again next meeting. Why US economy ‘goods producing’ sector recession is deepening and will spill over to services by year end 2023.
