WASHINGTON—President Joe Biden is set to deliver a speech on Tuesday highlighting his economic achievements as he enters the final days of his presidency, aiming to address criticism of his leadership and handling of the nation’s economy.
Biden will deliver his speech at the Brookings Institution in Washington, highlighting his economic plan focused on growing the economy from the middle out and the bottom up.
He will state how this plan has delivered “the strongest recovery in the world,” the White House said.
“After decades of trickle-down economics that slashed taxes for the wealthy, diminished public investments, offshored jobs and factories, destroyed unions, and ripped at the social safety net, President Biden has written a new playbook that’s growing the economy from the middle out and the bottom up,” a White House statement says.
Biden’s approval ratings have fallen amid criticism over his handling of the economy, Israel’s war with the Hamas terrorist group, and the U.S. border crisis. Recently, he also faced backlash for pardoning his son, Hunter Biden, after having said on multiple occasions that he wouldn’t, a move that drew criticism even from members of his party.
In his final days in office, Biden seeks to defend his economic record by saying that he took over the economy during a financial crisis caused by the pandemic and transformed it into the “strongest economy in the world.”
The website is packed with information, including economic statistics, charts, and testimonies from people who say they thrived under his administration. It also includes links to seven media pieces that praise Biden’s economic record.
The website’s opening page title states, “Building back from a financial crisis to the strongest economy in the world.”
Under Biden, cumulative GDP growth was 12.6 percent, surpassing the recorded growth under President Barack Obama’s first and second terms (6.1 percent and 10.4 percent, respectively) and Trump’s first term (7.6 percent).
In an effort to create resilient supply chains, the Biden administration also announced on Tuesday the allocation of $6.2 billion in direct funding to Micron Technology. The funding is part of the CHIPS Act to encourage U.S. companies to build new chip manufacturing plants domestically.
“This funding will support the first step in Micron’s two-decade vision to invest approximately $100 billion in New York and $25 billion in Idaho, which will create approximately 20,000 jobs and will help the United States grow its share of advanced memory manufacturing from less than 2% today to approximately 10% by 2035,” the Department of Commerce said in a statement.
