U.S. Economy and Politics
President Joe Biden discusses his administration's economic record and warns against a return to Republican 'trickle-down economics' during a speech at the Brookings Institution in Washington.
Key Points
- Biden's administration shifted from trickle-down economics to growing the economy from 'the middle out and the bottom up'
- Criticism towards Trump's handling of the COVID-19 pandemic and economic policies
- Concerns about potential economic impact of a second Trump term
Pros
- 16 million jobs created during Biden's administration
- Lowest average unemployment in 50 years
- Smallest racial wealth gap in 20 years
Cons
- Struggle with inflation and high housing prices
- Warning against more tax cuts for the wealthy and corporations