United States President Joe Biden has warned the economy could enter a recession and shed millions of jobs unless Republicans agree to raise the country’s $31.4 trillion debt ceiling before a fast-approaching deadline.In a campaign-style speech in a swing district in New York state on Wednesday, Biden accused Republicans of holding the economy hostage by demanding “devastating” spending cuts in exchange for raising the debt limit.“We’re bringing jobs back all across America,” Biden said at an event in Valhalla, New York, which is home to a congressional district that Republicans narrowly won in mid-term elections in November.
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