Biden Highlights Economic Achievements, Claims Trump Receives ‘Strongest Economy’ Globally
In a recent address, Biden criticized Trump’s economic strategy and voiced hope that the next president would continue to build on the advancements he has achieved.
WASHINGTON—On December 10, President Joe Biden spoke at the Brookings Institution, outlining his economic successes as he approaches the conclusion of his presidency. He expressed a desire for the upcoming Trump administration to “maintain and enhance” the progress made during his time in office.
Biden defended his economic agenda, which emphasizes “growing the economy from the middle out and the bottom up.”
“We have achieved full employment, reduced inflation, and managed a soft landing that many believed was unlikely,” Biden stated.
“Most economists agree that the new administration will inherit a reasonably robust economy.”
He noted that while his focus on infrastructure investment and manufacturing has not yet been fully appreciated by the American public, its advantages will become clearer in the coming years.
“I understand that it’s been difficult for many Americans to see the positive effects, and I empathize with them,” he remarked.
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Biden asserted that when he assumed office, the economy was grappling with the fallout from the COVID-19 pandemic, which he transformed into the “strongest economy in the world.”
He emphasized that his mission was not just to navigate the country out of the crisis but to set a robust trajectory for the future.
“After years of outsourcing jobs for the lowest labor costs, companies are returning to America, investing, and creating jobs right here,” Biden asserted.
Biden’s approval ratings have taken a hit due to criticism regarding his economic management, the Israel–Hamas conflict, and the crisis at the U.S. border. Additionally, he has faced backlash for pardoning his son, Hunter Biden, after previously stating he would not do so—a decision that received criticism from some within his own party.
This website is filled with data, including economic statistics, charts, and testimonials from individuals who report benefiting during his presidency. It features links to seven media outlets that commend Biden’s economic record.
At the top of the homepage, the title reads, “Building back from a financial crisis to the strongest economy in the world.”
One chart indicates that Biden’s cumulative GDP growth reached 12.6 percent, outpacing the growth recorded during former President Barack Obama’s two terms (6.1 percent and 10.4 percent, respectively) and President-elect Donald Trump’s first term (7.6 percent).
“After years of trickle-down strategies that reduced taxes for the wealthy, cut public investments, outsourced jobs and factories, eroded unions, and weakened the social safety net, President Biden has established a new framework that is fostering growth from the middle class and the lower tiers of the economy,” stated the White House ahead of Biden’s address.
Throughout his speech, Biden emphasized critical initiatives he undertook during his presidency, which he believes are essential for long-term economic growth.
He expressed optimism that the next Trump administration “will maintain and expand upon this progress.”
Biden critiqued Trump’s tax cuts, stating he’s “never been a strong proponent of trickle-down economics.”
He also condemned Trump’s proposed tariffs on Chinese goods, labeling them “a significant error.”
In a bid to fortify supply chains, the Biden administration announced on December 10 the allocation of $6.2 billion in direct funding to Micron Technology. This funding is part of the CHIPS Act, designed to encourage domestic semiconductor manufacturing.
Micron intends to invest close to $100 billion in New York and $25 billion in Idaho over the next twenty years, according to a statement from the Department of Commerce.
This investment “aims to elevate the United States’ share of advanced memory manufacturing from less than 2% today to around 10% by 2035,” the department mentioned.
