Goldman lowers 2022 growth forecasts after Manchin says no to BBB

[AZProgressive]

Goldman Sachs lowered its GDP forecast for 2022 on Sunday after Sen. Joe Manchin (D- W.Va.) effectively killed President Biden's Build Back Better legislation.

“A failure to pass BBB has negative growth implications,” Goldman Sachs said in a report on Sunday after Manchin said he will not support Biden's $2 trillion spending plan, according to Bloomberg.

Goldman Sachs announced that it had lowered its growth forecast from 3 percent to 2 percent in the first quarter; 3.5 percent to 3 percent in the second and from 3 percent to 2.75 percent in the third, Bloomberg reported.

The Goldman economists said the “enactment had already looked like a close call and in light of Manchin’s comments we are adjusting our forecast to remove the assumption that BBB will become law.”

https://thehill.com/homenews/administration/586514-goldman-revises-down-gdp-forecast-after-manchin-says-no-to-bbb

[leighbythesea2]

1. Seriously

F. This. One. Dude.
I cannot even figure out how to direct my anger right now.

[James48]

2. Dow futures already down over 2%

And the stock market is going to have a very rough day today.

[NightWatcher]

3. Let's just bribe this fucker. One billion to stfu and vote with all the D's?

Since is he nothing worse that a corrupt greed monster with no soul and (deleted..........)

[Hoyt]

4. Best idea I've heard.

[WHITT]

5. Manchin Knee-Caps Economy

He just made two things he claims to be concerned about, the economy and the federal debt, much worse.

Paraphrasing Chimpy Bush, 'HECK OF A JOB, MANCHIN!'.

[Midnight Writer]

6. Yet the US Chamber of Commerce is running ads in WV thanking Manchin. Go figure.

The economic growth this law would foster would overwhelm any spending deficits in it.