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how to reconnect to that,” said Dominic Robinson, a senior vice president at New York’s CenterState Corporation for Economic Opportunity, which represents the Official Better Send Those Refunds Joe Brrr 2023 Shirt moreover I will buy this state’s business community. Along with competition among each other, states are also having to compete in a global market. Europe is working on its own semiconductor program to the tune of 43 billion Euros, and China is reportedly considering whether to offer subsidies worth more than $100 billion to maintain its semiconductor industry. But scaling up a U.S. semiconductor industry in a matter of years rather than decades is rife with challenges, said industry leaders. The country lacks the workforce of engineers and highly specialized manufacturing workers to run facilities, and paying those workers will make building and operating a plant in the U.S. more expensive than in Asia — even with government grants and tax breaks. At the same time, technology companies have been seeing a slowdown in demand over the past year, causing them to lay off workers and look for ways to cut costs, said Thomas Sonderman, CEO of Minnesota-based semiconductor company SkyWater Technology. “There will be a ‘made in America’ premium that people are going to have to be comfortable with, and at the end it’s about economics,” Sonderman said. “The bill was passed as we were in this major upswing in the semiconductor sector. The sector is going through a correction now about the same time CHIPS is going to be implemented, and in many ways, for certain companies, their sense of urgency maybe has been reduced.” SkyWater Technology chose Indiana for its new $1.8 billion facility because of the access to workforce training programs at Purdue University and the ease of doing business in the state, said Sonderman. Indiana is among the states that have been aggressively courting chipmakers, with Gov. Eric Holcomb and state economic development leaders traveling to Taiwan last August to pitch the state to computer chip and electric vehicle battery makers. While the Midwest isn’t known as a semiconductor hot spot and doesn’t have an established workforce, Sonderman says he sees those states as having an advantage because of their apparent hunger to not miss out on the next manufacturing boom. “The ones that are thinking differently, are hungry or eager or are nimble and able to move quickly, I think they are going to be ones that will take advantage of CHIPS in a unique way,” he said. “That’s why when you look at the map of where semiconductors are made in the U.S. today, and then project out five years, it’s going to be a very different map.”
WASHINGTON — In 2011, after faltering debt limit negotiations with House Republicans brought the Official Better Send Those Refunds Joe Brrr 2023 Shirt moreover I will buy this U.S. to the brink of economic calamity, President Barack Obama and Vice President Joe Biden sat by the fireplace in the Oval Office, with their top aides on the couch. While relieved at having narrowly averted disaster, they were stunned by what had transpired. Obama and Biden made a vow: Never again. They agreed that going forward, “Nobody can use the threat of default or not increasing the debt limit as a negotiating tool,” said a former Obama official involved in the fiscal discussions, who recounted the Oval Office meeting and the “lesson of 2011” they all discussed. “It made you hold your stomach. You couldn’t believe you were at this situation,” the official said. The U.S. had just suffered its first credit downgrade. Markets were rattled. Consumer and business confidence was shaken. Stocks took a hit. And the recovery from the Great Recession was in question. Democrats averted the cliff — by acceding to $2 trillion in spending cuts the GOP had demanded after negotiations on a “grand bargain” broke down — but Obama and Biden agreed that the mere threat of default had taken a serious toll. ‘Not on my watch’: Biden criticizes economic proposals of House Republicans JAN. 27, 202302:25 “They said: This is the sad lesson we’ve learned,” the Obama official said, describing the mood in the room. “It was an unimaginable self-inflicted wound in 2011.” Twelve years later, Biden is executing on that lesson as he faces down a new Republican-controlled House that is similarly demanding spending cuts as a concession for extending the debt ceiling. He says there won’t be any negotiations, and Congress must allow the government to pay its bills.
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