163 Paul Lawrence Vann - The Current State Of The U.S. Economy and How It Impacts Your Personal Economy

In what is one of the most impactful  dynamics taking place in the U.S. is its economy. The  White House and the U.S. Congress are working to try to bridge the gap for U.S. citizens however they have a lot of work to do. 

Post-Thanksgiving,  Black Friday, Small Business Saturday, and Cyber Monday have all made positive impacts on the economy, however, it's not enough to help the recovery. What must take place is the debt limit must be raised  to cover the cost of the previous administration, without it, the government may experience a closure, furloughs, and much, much more.

U.S. Treasury Secretary Janet Yellen urged Congress to raise the U.S. debt limit or risk undermining what she described as the U.S. economy's "quite remarkable" recovery from the COVID-19 pandemic. Yellen, in remarks prepared for a Senate Banking Committee hearing on Tuesday, said she was confident "at this point" that U.S. economic growth remained strong, but said failure to deal with the debt limit would "eviscerate" the recovery.

Inflation is another aspect of the U.S. economy that must be dealt with because families can't keep up with inflation, many of them have struggled with the challenges of job losses, job changes, starting their own business, and starting life all over again. The price of gas, eggs, milk, and bread is creating a food access crisis throughout the U.S.

Furthermore, Fed Chairwoman Yellen also called on Congress to pass President Joe Biden's $1.75 trillion social and climate spending bill, saying it would end the "childcare crisis" and let parents return to work. The Build Back Better (BBB) bill is being factored into the recovery of the U.S. economy and rightfully so. With the BBB the U.S. economy can get back on solid footing heading into 2022.

Discover more about Paul Lawrence Vann and Wealth Building Academy, LLC at  https://bit.ly/3fA9u3m