Biden’s message to make the US economy more competitive
In an article he wrote for The Wall Street Journal, US President Biden made assessments of the country’s economy.
Stating that more than 13 million jobs have been created since he took office, some 800,000 of them in the manufacturing sector, Biden recalled that the increase in employment was 339,000 last month alone. Biden noted that the unemployment rate in the country has been below 4 percent for 16 months.
Noting that the US economic recovery is the strongest of the major economies, Biden stressed that his goal is to protect and build on this progress.
Biden spoke of the Inflation Reduction Act, noting that over the past year his administration has taken “historic” steps to reduce costs for American families.
“WE WILL CONTINUE PRESSING FOR TAX REFORMS”
Noting that the annual inflation rate in the country has been falling continuously for 10 months and is at a level lower than in the UK and Europe, Biden said: “We are not done yet, but as the chains of As supplies continue to crumble, corporate profit margins fall from historically high levels and rents continue to moderate, inflation will fall further, creating more breathing room for working families. he used his statements.
Emphasizing that risks should always be paid attention to and action taken against them, Biden said they have seen what disruptions to the global energy market can do to the economy, and this shows the importance of urgently implementing investments in clean energy and energy security. .
Biden said his administration will continue to make the US economy and industry more competitive and resilient, adding, “We’re also committed to tax reforms that give families with children and Americans with more breathing room.” low incomes, reducing the deficit by closing loopholes in the law, and increasing incomes for wealthy Americans and large corporations.” We will continue to apply pressure.” He made the assessment of him.
Furthermore, Biden said, “We’re not done and we may see bumps along the way.” warned. (AA)