Biden Economic Agenda on Hold as More Americans Hit Hardships
- Democrats return to Washington this week with no deal in sight
- ‘We have debated it long enough,’ No. 2 Senate Democrat says
Volunteers fill boxes at a food bank distribution warehouse in Omaha, Nebraska, U.S.
Photographer: Dan Brouillette/BloombergThis article is for subscribers only.
American families are feeling the financial squeeze of soaring inflation and a persistent pandemic as fractious Democrats return to Washington this week no closer to a deal on a tax and spending bill party leaders hoped would by now provide relief.
Despite gangbusters growth at a 6.9% annual rate during the final quarter of 2021, other economic measures tell a very different story. Average wages are falling behind inflation and consumer sentiment plummeted in January to the lowest in more than a decade.