President Joe Biden is touting the nation’s economic turnaround, declaring that the U.S. has risen from the brink of an economic crisis to become the strongest economy in the world. Speaking at the Kickoff Event for the “Investing in America” content series on Tuesday, Biden outlined the significant strides his administration has made since he took office, emphasizing efforts that have spurred growth, lowered inflation, and revitalized key industries.
During his remarks, Biden credited his administration’s policies for helping bring inflation down after it spiked during the pandemic recovery. He highlighted record growth in small businesses, noting that the number of new ventures launched in recent years reflects the strength of the U.S. economy and its resilience. According to Biden, this momentum is critical to maintaining America’s leadership in the global economy.
Biden also focused on his administration’s efforts to revitalize American manufacturing, specifically citing the CHIPS and Science Act, which he signed into law in 2022. The legislation has paved the way for chip factories to return to the U.S., a move Biden says will reduce reliance on foreign production and strengthen supply chains for critical technologies. “We’re bringing jobs back to America, and we’re rebuilding our manufacturing base,” Biden said, underscoring the importance of semiconductors in everything from smartphones to automobiles.
The president also touched on the administration’s broader “Investing in America” initiative, which aims to create new jobs, rebuild infrastructure, and advance technological innovation across industries. This long-term investment plan, Biden claims, is fueling sustainable economic growth while addressing key issues such as climate change, workforce development, and digital infrastructure.
“We’ve come a long way from the days of economic crisis,” Biden said. “Today, inflation is down, wages are up, and we’re seeing the largest investments in American infrastructure and manufacturing in decades.”
President, Joe Biden
The event comes as Biden seeks to reinforce his economic agenda ahead of the 2024 election, where his record on the economy will likely be a focal point of debate. Critics of the administration, including Republican lawmakers, continue to argue that inflation and the national debt remain significant concerns, but Biden maintains that his policies are moving the country in the right direction.
As the “Investing in America” series continues, the president is expected to highlight additional achievements in sectors such as renewable energy, healthcare, and education, all part of a broader strategy to boost American competitiveness globally.
