Even The Banks Are Saying Joe Manchin Is Hurting The Economy

Goldman Sachs has been forced to revise their economic outlook for the coming year following Joe Manchin's statement that he won't support Build Back Better. The downward revision by the bank shows that the failure to pass the bill is going to negatively impact the economy, but that doesn't seem to matter to Manchin - a man who apparently believes that poor people are wasting their money on drugs anyway. Ring of Fire's Farron Cousins discusses this.

Link - https://www.alternet.org/2021/12/goldman-sachs-warns-that-joe-manchins-no-on-build-back-better-will-have-negative-growth-implications-in-2022/

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Do you know how bad a corporatist like Joe Manchin's policies have to be in order for a big bank to come out and say, whoa, this is really gonna screw the economy. Well, that's exactly the situation we're looking at with Joe Manchin's decision to tank the Build Back Better act. Yesterday, Goldman Sachs had to come out and revise their GDP forecast for the start of 2022, based on Manchin's decision to not support the Build Back Better act. So first quarter growth for GDP in the year 2022 has now been revised instead of expecting 3% growth, Goldman Sachs says we can expect 2% growth. Joe Manchin's decision to kill this bill has cost us 1% of our projected first quarter GDP.

Now, I don't know how much everybody knows about economics and GDP and forecast and all that that watches this, 1% is a big, big deal. Economists understand that 1% here, 1% there, that can mean the difference in a recession. It can mean the difference in mass unemployment. It can mean the difference in a recovery, 1% could. And that is exactly what Joe Manchin has effectively condemned the United States to all based on his idiotic, faulty logic, you know, saying that, oh, if we give poor people money, they're gonna spend it on drugs. If we give them paid sick leave, they're gonna use that time to go hunting. That's what reports on Monday came out from Huffington Post and said, Joe Manchin was telling his Democratic colleagues behind the scenes. Poor people are poor, apparently because they're spending all their money on drugs. They don't deserve paid sick leave, because they're gonna use it to play hooky.

These are Republican talking points coming outta the mouths of one of the worst corporatist Democrats I've ever seen. And Joe Manchin of course came out yesterday and said, the Democrats ought to push me in the Republican party. There's no need to push you. You're already there. You're using their talking points. You're voting the way they vote. There's no pushing here. You moved yourself into that party because you cared more about your own financial interests than you do about the people of the United States. You cared more about your failing coal company than you do the entire United States economy, than you do the GDP because you are tanking all of it. 30% of children in this country have been lifted outta poverty because of that extended child tax credit. That is the very thing that Joe Manchin wants killed, or at least scaled down as he says. We're at a time of economic recovery right now.

It may not seem like it. It certainly doesn't feel like it at all times. But on paper we're in an economic recovery and yes, people have been lifted outta poverty due to the direct payments that they have been given by the federal government this year and Joe Minchin and of course, 100% of the Republicans in the Senate, all 50 of them, want to take that away from us. Want to take it away from this country as we continue to watch COVID cases, once again, climb. That's Joe Manchin's legacy. This is what he is doing. This is what all of the Republicans are doing. And there's not a whole heck of a lot we can do about it. We're stuck here. Manchin's not up for reelection in 2022. So all we can do is talk about it. All we can do is pressure him. All we can do is shame him.