The city of Portland is located in the state of Oregon. President Joe Biden called the British Prime Minister's tax cut plan a mistake and said he was worried that other nations' fiscal policies could hurt the U.S.
Biden said it was likely that the new prime minister walked back plans to aggressively cut taxes without identifying cost savings after the proposal caused turmoil in the financial markets. The domestic policy decisions of one of the U.S. president's closest allies was criticized by him.
Biden said that he wasn't the only one who thought it was a mistake. I don't agree with the policy but it's up to Great Britain.
Biden's comments came after weeks of White House officials not commenting on the plans. As Democrats across the country face a tough political environment due to GOP criticism of their handling of the economy, he spoke to reporters at an Oregon ice cream shop to promote the candidacy of Tina Kotek.
Biden said he wasn't worried about the strength of the dollar because it benefits US imports and makes the country's exports more expensive to other countries.
The president said the U.S. economy is doing well.
He said he was worried about the rest of the world. There is a lack of economic growth in other countries.
Biden said that it was consequential.
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