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The 11th Hour with Stephanie Ruhle

DAY 757: U.S. economy grows amid recession fears

The 11th Hour with Stephanie Ruhle

MS NOW, Stephanie Ruhle

Politics, Washington, Congress, News, Ms Now, President, Versant Media, Policy, Msnbc, Versant, Government, Senate

4.43.6K Ratings

🗓️ 27 January 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

President Biden takes a victory lap during a Virginia speech after the latest data shows the U.S. economy is still growing despite fears of recession. It comes as the White House and House Republicans are at odds over the debt ceiling and budget cuts. Plus, five former Memphis police officers are facing second degree murder charges for the death of Tyre Nichols. Tara Palmieri, Reed Galen, Jen Psaki, Marq Claxton, Charles Coleman, Stephen Gruber-Miller, Cara Fitzpatrick, Meg Tirrell join.

Transcript

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0:00.0

Tonight, the economic showdown President Biden takes on Nago Republicans and their

0:09.5

non-specific spending cuts while balancing economic growth and fears of recession and

0:15.3

a split screen in governing from the White House to Kevin's House.

0:19.6

Then five former Memphis police officers charged with the murder of Tyrone Nichols after

0:24.9

a violent confrontation during a traffic stop. The video expected to be released tomorrow.

0:30.0

And the COVID vaccine price hike. Why the increase when taxpayers help foot the bill in

0:36.2

first place? As the 11th hour gets underway on this Thursday night.

0:45.5

Good evening once again, I'm Stephanie Ruhl. The president taken a victory lap and hammering

0:50.9

Republicans after the latest data shows the U.S. economy is still growing. Today the

0:56.0

Commerce Department said the economy grew at an annual rate of 2.9 percent in the last

1:01.2

quarter of 2022. That is despite the Fed's continued rate hikes and concerns about a possible

1:07.2

recession. President Biden wasting no time taking credit for the bright spots in the economy

1:12.8

and going after economic plans that have been floated by House Republicans.

1:17.6

Jobs are the highest and the highest in American history and wages are up. And they're growing

1:25.9

faster than inflation. Over the past six months inflation has gone down every month.

1:30.8

What in God's name would the Americans give up the progress we made for the chaos they're

1:36.0

suggesting? They want to pose a 30 percent national sales tax on everything from food,

1:42.4

clothing, school supplies, housing, cars. You get to cut your socials. They want to

1:46.9

cut your social security Medicare. But I will not let anyone use the full faith and credit

1:51.4

of the United States as a bargaining chip. In United States of America we pay our debts.

1:59.0

As the New York Times points out that speech was a potential preview of Biden's themes

2:03.4

for a possible 2024 re-election campaign. It also comes as the White House and House

...

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