Home Latest News President Biden’s Urgent Address on Budget Cuts and Government Shutdown Looms

President Biden’s Urgent Address on Budget Cuts and Government Shutdown Looms

by Editorial Desk
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President Joe Biden will give a big speech on Thursday about how money is being spent by the government and how it might shut down soon. This is a big deal because if the government doesn’t have money, it can’t do important things like paying employees and running programs.

The people who make decisions in the government, both the Republicans and the Democrats, only have about 12 days to figure this out before September 30, which is when the money runs out.

The problem right now is that the Republicans in the House of Representatives want to spend less money in 2024 than what President Biden and another Republican leader, Kevin McCarthy, agreed on in May. They want to cut about $120 billion from the budget. But the White House and other important people in the Senate, like Mitch McConnell, say no to this idea. They say the cuts are harmful, and they don’t agree with the Republicans’ plan for the budget.

The White House will spend a lot of time this fall talking about the Republicans’ budget plan. They say it includes giving tax breaks to rich people and reducing money for programs like Social Security and Medicare.

People are wondering if President Biden’s message about the economy is making sense to regular folks. Some Democrats, who are experts in the economy and who do polls, say that Biden is having a hard time convincing most of the country that he’s doing a good job with the economy, even though many signs say the economy is strong.

Back in June, Biden tried to explain his plan for making middle-class Americans better off. He wants to tax rich people more and use that money for important things like technology, education, and making sure businesses compete fairly.

A poll in August found that only 25% of Americans like what Biden is doing with the economy, even though he’s trying to reduce inflation and improve things. Some people still think he’s not doing a good job.

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