Dec 6, 2019

Biden: "We're likely to inherit a recession" from Trump

Photo: Preston Ehrler/Echoes Wire/Barcroft Media/Getty Images

Former Vice President Joe Biden said "we’re likely to inherit a recession, at least a significant economic slowdown," during an interview with CNBC's John Harwood.

Why it matters: Biden slammed President Trump's economic policies in the interview, saying Trump's plan won't help the economy grow in the long run. Biden also said Trump is "ripping the soul out of this country."

  • There's often worries of a recession hitting. However, it's often difficult to predict when and why one will hit.

What he's saying:

  • "The president has increased with his profligate tax cut to the very wealthy the deficit by $1 trillion, $900 billion. It can’t be sustained."
  • "But what [the Obama administration] did at the same time was we were able to invest it in things that in fact grew the economy at the same time. That’s the exact opposite of what Trump has done."

Go deeper:

Go deeper

Joe Biden unveils $3.2 trillion tax plan

Photo: Scott Olson/Getty Images

2020 candidate Joe Biden on Wednesday unveiled a plan to raise $3.2 trillion over a decade from tax increases in order to pay for his climate and health care proposals, Bloomberg reports.

Why it matters: Biden's plan demonstrates the political divide within the Democratic Party. His plan is markedly different from the aggressive tax measures pitched by Sens. Elizabeth Warren and Bernie Sanders, who want to raise around $20 trillion in new taxes over the next decade.

Go deeperArrowDec 4, 2019

"You're a damn liar": Biden rebukes voter over allegations about son's Ukraine work

Joe Biden at a campaign stop on Dec. 2, 2019 in Algona, Iowa. Photo: Scott Olson/Getty Images

Former Vice President Joe Biden told a voter attending one of his campaign events on Thursday that he is "a damn liar" for making unsubstantiated allegations that Biden “sent” his son, Hunter, to work for a Ukrainian gas company in order to sell access to President Obama.

Why it matters: President Trump's request that Ukraine's president announce an investigation into the Biden's dealings in Ukraine is what sparked the impeachment inquiry. Hunter’s role with Ukrainian energy company Burisma did raise conflict-of-interest concerns at the time, but there is no evidence that the former vice president committed "corruption" of any kind in the country, as Trump has claimed.

Go deeperArrowDec 5, 2019

Biden promises restrictions on Hunter, family if elected

Former Vice President Joe Biden, in an interview with "Axios on HBO," promised to prohibit his son Hunter, and other family members, from cashing in on his name and position overseas if he wins the presidency. 

Why it matters: Questions may intensify as impeachment proceedings against President Donald Trump move to the Senate and the Iowa caucuses approach. Biden already has drawn scrutiny for allowing his son to get paid handsomely by a Ukrainian business while the VP led the Obama administration's anti-corruption push in Ukraine.

Go deeperArrowDec 8, 2019