Category Archives: Joe Biden

Biden Administration, Economic Development, Economic Policies, Economy, Joe Biden, President Joe Biden

SOTU Preview: Biden Offers Plan to Build on Economic Success

What a difference a year makes! The atmosphere for President Joe Biden’s State of the Union Address could not be more different from 2022, when Democrats controlled both houses of Congress. But his message, continuing to build on the progress of his Unity Agenda, repeats his theme to work in a bipartisan fashion for the good of the American people © Karen Rubin/news-photos-features.com via C-Span.

It is truly shocking to hear “poll” results where the majority of people think President Biden has done nothing, that the economy is weak, that no new jobs have been created. Beyond absurd – you have to wonder about who was polled, how the polling was done, or what rock these people have been under, or if they are permanently wired to Fox Fake News. This preview of the State of the Union Address providing a Fact Sheet on the Biden Administration’s economic record, comes from the White House:

President Biden has long believed that we must build the economy from the bottom up and middle out, not the top down. As the President says, when the middle class does well, the poor have a ladder up and the wealthy still do very well. He believes the best way to grow the economy, create good-paying jobs, and lower costs for families is by promoting workers, investing in America and its people, making the economy more competitive, and reforming the tax code to reward work and not wealth. Our progress over the last two years shows that his economic strategy is working.
 
The state of the economy is strong. In his State of the Union address, President Biden will highlight the historic progress we have made to bring the economy back from the pandemic and create more jobs in a two-year period than under any other president on record. He will discuss progress lowering costs and providing more breathing room for families, including cutting prescription drug costs, health insurance premiums, and energy bills, while driving the uninsured rate to historic lows. He will outline the manufacturing boom across the country—in infrastructure, semi-conductors, and clean energy—that is strengthening parts of the country left behind and creating good jobs, including for workers without college degrees.
 
And, he will emphasize that his economic strategy has been a fiscally responsible one. President Biden’s predecessor passed a nearly $2 trillion unpaid for tax cut with benefits skewed to the wealthy and large corporations, and the deficit went up every single year under his watch. Under President Biden, the deficit has fallen by $1.7 trillion, and his reforms to take on Big Pharma, lower prescription drug costs, and make the wealthy and large corporations pay their fair share will reduce the deficit by hundreds of billions more.
 
President Biden knows that the work to build an economy from the bottom up and middle out is far from done. He will say that we need to build on this work to continue growing our economy and lowering costs. He will discuss the work to come to implement his historic investment agenda in a way that benefits all Americans. And, the President will preview the budget he will send to Congress on March 9, which will build on the historic economic progress of the past two years by continuing to invest in America and its people, continuing to lower costs for families—from child care to housing to college to health care—protecting and strengthening Social Security and Medicare, and reducing the deficit through additional reforms to ensure the wealthy and largest corporations pay their fair share.
 
Historic Progress to Create Jobs, Promote Workers, and Transition to Steady and Stable Growth

When President Biden took office, the economy was in crisis, millions were out of work, and Main Streets were shuttered. In two years, the President has overseen a historic economy recovery and laid the foundation for steady and stable growth in the years to come.

A historic, equitable economic recovery. President Biden’s economic strategy led to a historic recovery with tangible benefits for workers and families. Since President Biden took office, the economy has created more than 12 million jobs—including more than 800,000 manufacturing jobs—and the unemployment rate is at a 54-year low, including near record lows for Black workers. The unemployment rate for Hispanic workers hit a record low last year. The past two years were also the best two years for new small business applications on record. None of this progress was pre-ordained. Before President Biden signed his Rescue Plan into law, experts predicted it would take far longer to create this many jobs. And few—if any—experts predicted it would be possible to get the unemployment rate down to a level last seen in 1969. In fact, before the Rescue Plan passed, the Congressional Budget Office projected the unemployment rate in the first quarter of 2023 would be 4.8%, rather than its current level of 3.4%.

More breathing room and economic security for families. This historic jobs recovery, along with Biden-Harris Administration policies designed to help workers and families, has left families more economically secure than before the pandemic. Compared to pre-pandemic levels, households are now less likely to be delinquent on their credit card bills and mortgages, and more likely to have health insurance. They are facing fewer evictions and foreclosures than there were before the pandemic, and bankruptcy rates are lower as well. This economic security is giving families peace of mind and breathing room that they didn’t have before the pandemic. Child poverty also fell to a historic low in 2021, and the President will call on Congress to continue these gains through the expanded Child Tax Credit, even as he has taken action to lift nearly 1 million children out of poverty by modernizing nutrition benefits.

Progress on transitioning to steady, stable growth with lower inflation. In the wake of unprecedented economic disruption from a historic pandemic, inflation has been a challenge all over the globe. Last spring, President Biden set the goal of transitioning our economy to lower inflation, while maintaining a resilient job market for American workers. Now, annual inflation has fallen for six months straight, driven in large part by a roughly $1.50 decline in gas prices compared to last summer. Over the second half of 2022, three-month core inflation fell from nearly 8% at an annualized rate to 3% at an annualized rate—at the same time that the unemployment remained at or near 50-year lows. As a result of the progress on inflation and the resilience of the job market, wages adjusted for inflation are higher than they were seven months ago. While there is more work to do to bring inflation down and lower costs for families—and there may be setbacks along the way—the past six months have marked significant progress toward the President’s goal of bringing down inflation without giving up the economic progress we’ve made.

Manufacturing Boom Across the Country and Historic Investments in Infrastructure

Even before the pandemic, the middle class was hollowed out. Manufacturing jobs moved overseas and factories closed down. The President believes that the United States can lead the world in manufacturing again. His economic plan has done just that—generate a manufacturing boom across the country and build an economy where no one is left behind. The President’s economic plan is stimulating new factories and manufacturing lines and creating good-paying jobs that don’t require a four-year degree. His plan includes the most significant upgrade to our nation’s infrastructure in generations—an investment larger than FDR’s investment Rural Electrification and Eisenhower’s efforts to build the Interstate Highway system. It includes the most significant clean energy plan ever, transitioning the clean energy economy and lowering households’ energy costs. And, it includes the most substantial investment in science, innovation, and industrial strategy in over 50 years.
 
In just the two years since President Biden took office, we have spurred more than $700 billion in announced private investment in manufacturing, utilities, and energy from more than 200 companies in all 50 states. Much of this investment is driven by the semiconductor, energy, electric vehicles and batteries, and other cutting-edge sectors.
 
Ensuring President Biden’s agenda creates a future made in America. Building on the historic investment agenda the President has signed into law, President Biden is ensuring that our historic infrastructure investments use materials made in America. For decades, Buy America laws focused on iron and steel and only covered certain federally funded infrastructure projects. This giant loophole meant projects could be built with other materials sourced from anywhere in the world. The Biden-Harris Administration is working to close this loophole and implement new standards, once and for all, so materials for roads and bridges, airports, transit, rail, water, high-speed internet, and clean energy infrastructure are made in America and support American jobs.
 
The President will announce in the State of the Union that he is issuing proposed guidance to ensure construction materials from copper and aluminum to fiber optic cable, lumber, and drywall, are made in America. Once finalized, these standards will apply to virtually all infrastructure spending supported by Federal financial assistance—not simply roads and bridges, but also buildings, water infrastructure and high-speed internet, providing consistency for companies and state and local governments to apply the standards and a strong federal government-wide demand signal.
 
These steps complement the Administration’s implementation of the most robust updates in nearly 70 years to the Buy American Act for federal procurement. Those updates are helping to ensure that taxpayers’ dollars support American manufacturing, boost resiliency in critical industries, and create good-paying jobs right here at home. The Buy American rule increased the percentage value of component parts manufactured in the US from 55% to 60% this past fall as the first step toward increasing that value to 75%.
 
Lowering Health Care Costs for Families
 
The President knows what it’s like to stare at the ceiling, worried about paying for prescriptions or health care. He believes that every American has a right to the peace of mind that comes with knowing they have access to affordable, quality health care. President Biden passed legislation to lower health care and prescription drug costs for American families, giving families more breathing room. Tomorrow, he will discuss the historic progress we have made on lowering health care costs under his watch, including steps to strengthen Medicare, Medicaid, and the Affordable Care Act (ACA), and steps we must take to build on that progress and give more families the peace of mind of affordable prescriptions and health care.

$800 lower health care premiums. A record-setting 16.3 million people signed up for ACA coverage this year, and the national uninsured rate hit an all-time low last year. That’s thanks in large part to President Biden and Democrats in Congress’ work to lower premiums for ACA coverage by an average of $800 per person per year—along with President Biden’s actions to quadruple consumer assistance, increase outreach, and close the “family glitch” loophole that blocked many children and spouses from affordable coverage. Tomorrow, the President will call on Congress to make these savings for American families permanent, so we can continue our work to make health care a right, not a privilege.

60 million Medicare beneficiaries will be protected from skyrocketing drug costs. President Biden took on Big Pharma—and won. Thanks to the new prescription drug law, Medicare will be able to negotiate drug prices and cap out-of-pocket pharmacy costs at $2,000 per year under Part D, and drug companies will pay rebates to Medicare if they try to hike their prices faster than the rate of inflation. For the last six weeks, seniors across the country have been benefiting from key drug pricing protections that are putting money back in their pockets:

  • $35 price cap on insulin in Medicare. Starting this year, Medicare beneficiaries will pay no more than $35 per month per insulin prescription. 1.5 million people would have each saved, on average, $500 per year had this law been in effect in 2020. The President will call on Congress to extend this commonsense, life-saving protection to all Americans, not just people with Medicare.
     
  • $0 vaccines through Medicare. More adult vaccines are now available without any co-pays under Medicare Part D thanks to the new prescription drug law. This includes the shingles vaccine, which used to cost seniors as much as $200.

1 million surprise medical bills are prevented every month. Before President Biden took office, millions of people received surprise bills for out-of-network care, costing them hundreds or thousands of dollars. The Administration is protecting millions of consumers from surprise medical bills through the implementation of the No Surprises Act, which has already protected 10 million Americans from unfair, undeserved out-of-network charges.

$3,000 in savings on hearing aids. In October 2022, over-the-counter hearing aids hit the shelves following a rule from the Food and Drug Administration. Now, millions of Americans can buy hearing aids for low to moderate hearing loss without a prescription or exam. This is anticipated to save Americans as much as $3,000 per pair, providing more breathing room for the estimated 30 million Americans with mild-to-moderate hearing loss.

39 states and the District of Columbia have expanded Medicaid coverage. Missouri, Oklahoma, and South Dakota are the most recent states to expand Medicaid to hundreds of thousands of low-income adults previously locked out of Medicaid coverage. The Administration remains committed to closing the coverage gap in the remaining 11 states, and the President will call on Congress to finish the job. In addition, the Administration also worked with over half the states and DC to extend Medicaid postpartum coverage for millions of women.

Promoting Competition

As President Biden said at last year’s State of the Union, “capitalism without competition isn’t capitalism. It’s exploitation—and it drives up prices.” Over the past year, the Administration has been delivering for the American people to lower prices, protect workers, and increase competition across the economy. In this year’s State of the Union, the President will highlight progress we need to continue to make to promote competition and protect consumers.

Cracking down on junk fees. The Consumer Financial Protection Bureau (CFPB) is lowering or eliminating the banking and credit card “junk” fees that too many Americans pay. The CFPB announced a proposal that will slash excessive credit card late fees to $8 from approximately $30, which combined with other measures could save consumers up to $9 billion a year in late fees. Last year, the CFPB also targeted overdraft and bounced check fees—making changes that will cut fees by over $1 billion a year. The Department of Transportation (DOT) also proposed a rule that would require airlines and online search sites to disclose up front any fees to choose seats including to sit next to one’s child, for baggage, and for changes or cancellations. It also published a dashboard of airline policies when flights are delayed or cancelled due to issues under the airlines’ control, leading 9 airlines to change policies to guarantee coverage of hotels and 10 airlines to guarantee coverage of meals.

The President will re-state his call on Congress to pass a Junk Fees Prevention Act to ban resort and family seating fees, eliminate unnecessary early termination fees for internet and phone services, and crack down on excessive fees and other practices that drive up ticket prices. DOT will also launch a family seating dashboard to raise awareness about airline policies and undertake a rulemaking to ban these fees.

Addressing non-compete agreements. Roughly 30 million Americans, including many low-wage workers, are covered by non-compete agreements that can stifle wage growth for American workers by making it more difficult for workers to leave for higher-paying jobs. The Federal Trade Commission released a proposed rule in January 2023 to ban non-compete clauses, which it estimates will increases wages by $300 billion annually.

Lowering ocean shipping costs. Ocean carriers increased their rates by as much as 1,000% during the pandemic. Last June, Congress passed the Ocean Shipping Reform Act heeding the President’s call in the 2022 State of the Union. This legislation will cut costs for shippers, and in turn American families, and ensure fairer treatment for exports from our farmers and ranchers.

Lowering meat prices. The Administration has taken a number of steps to increase competition in the meat and poultry markets. The Department of Agriculture (USDA) has also issued proposed regulations under the Packers & Stockyards Act to increase competition and market integrity and to prevent abuse of farmers in the poultry growing system. USDA is also using $1 billion to expand independent meat processing capacity, so the market isn’t dominated by just a few big players.

Helping consumers get the right to repair. The President believes that consumers shouldn’t be restricted by big manufacturers from repairing their own equipment—whether it’s a tractor or a smartphone. After President Biden expressed strong support for the right to repair in his Competition Executive Order, Microsoft conducted a study on the issue and made its Surface devices more easily repairable and Apple announced self-service repair for certain devices.

Improving safety and accountability in nursing homes. As the President directed in last year’s State of the Union, CMS has taken action to strengthen oversight of the worst performing nursing homes, prevent abuse and Medicare fraud, and improve families’ ability to comparison shop across nursing homes. In the coming days and months, CMS will announce new actions to increase safety and accountability at nursing homes.

Reducing the Deficit by Ensuring the Wealthy and Large Corporations Pay their Fair Share

In the last two years, the Administration cut the deficit by more than $1.7 trillion—the largest deficit reduction in American history. The President believes we need to continue that progress—and reward work, not wealth.

Since coming to office, the President has signed legislation to make the wealthy and large corporations pay their fair share and provide tax cuts for working families, while reducing the deficit. Under his plan, no one making under $400,000 per year will pay more in taxes.

Billionaire Minimum Tax. President Biden is a capitalist and believes that anyone should be able to become a millionaire or a billionaire. He also believes that it is wrong for America to have a tax code that results in America’s wealthiest households paying a lower tax rate than working families. In a typical year, billionaires pay an average tax rate of just 8%. In the State of the Union, he’ll call on Congress to pass his billionaire minimum tax. This minimum tax would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters.

Surcharge on corporate stock buybacks. Stock buybacks enable corporations to funnel tax-advantaged payouts to wealthy and foreign investors, instead of paying dividends that shareholders are required to pay taxes on. In addition, a number of experts have argued that CEOs—who are compensated mostly in stock—use buybacks to enrich themselves to the detriment of the long-term growth of the company. Last year, oil and gas companies made record profits and invested very little in domestic production and to keep gas prices down—instead they bought their own stock, giving all that profit to their CEOs and shareholders. President Biden signed into law a surcharge on corporate stock buyback, which reduces the differential tax treatment between buybacks and dividends and encourages businesses to invest in their growth and productivity as opposed to paying out corporate executives or funneling tax-preferred profits to foreign shareholders. In the State of the Union, the President will call for quadrupling the tax on corporate stock buybacks.

Corporate minimum tax. In 2020, 55 of the largest corporations that were profitable paid $0 in federal income tax. To end that unfairness in the tax code, President Biden signed into law a 15 percent minimum tax on the profits that large corporations—those with over $1 billion in profits—report to shareholders. This book minimum tax means that it will be harder for companies that say they’re earning a billion in profits to pay tax rates in the single digits on those profits. It also levels the playing field for companies—including small businesses—that are already paying their fair share.

Legislation to crack down on tax cheats and create a fairer tax system. Working people pay 99% of the taxes they owe on their income from wages and salaries, while the top 1 percent hides about 20% of their income from tax, including by funneling it through offshore accounts in tax havens that don’t report earnings. The President signed legislation into law that will crack down on wealthy people and large corporations that cheat on their taxes, while improving customer service for taxpayers. The legislation will not increase audit rates for families or small businesses making under $400,000 per year.

Biden Administration, Congress, Joe Biden, President Joe Biden

SOTU Preview: Biden to Outline Vision to Advance Progress on Unity Agenda in Year Ahead

This year’s State of the Union address by President Joe Biden will have a very different look, with Republican Speaker Kevin McCarthy standing in place of Nancy Pelosi, but Biden plans to continue to press for further progress on the Unity Agenda he proposed last year © Karen Rubin/news-photos-features.com via C-SPAN.

During his first State of the Union address, President Biden announced a four-part Unity Agenda focused on areas where members of both parties can come together and make additional progress for the American people: ending cancer as we know it; delivering on the sacred obligation to veterans; tackling the mental health crisis; and beating the opioid and overdose epidemic.

Over the last year, the President was proud to work with Democrats and Republicans to enact major legislation that delivers on all aspects of this four-part agenda. In his State of the Union today, the President will announce a new set of policies to continue to make progress advancing his Unity Agenda and deliver results for families across the country.

Accelerating Progress to End Cancer as We Know It Today
Cancer has touched nearly every American family, and it remains the second leading cause of death in America. To accelerate progress in the fight against cancer, last year, the President and First Lady reignited the Cancer Moonshot with the goal of cutting U.S. cancer death rates by at least half in 25 years and improving the experience of individuals, caregivers, and families living with and surviving cancer. Over the past year, the Cancer Moonshot has announced nearly 30 new federal programs, policies and resources to close the screening gap, tackle environmental exposure, decrease preventable cancers, advance cutting-edge research, support patients and caregivers, and more. More than 60 private companies, non-profits, academic institutions, and patient groups have also answered the President’s call and stepped up with new actions and collaborations. The President will call on Congress to act to end cancer as we know it, and the Cancer Moonshot will drive additional progress this year by:

Bringing America’s cancer research system into the 21st century. As we work to continue the progress we’ve made over the last year, the Administration is urging Congress to reauthorize the National Cancer Act, which 52 years ago set up the National Cancer Institute (NCI) in its current form. The reauthorization will update the nation’s cancer research and care systems to put modern American innovation fully to work to end cancer as we know it. This includes standing up clinical trial networks, creating new data systems that break down silos, and ensuring that knowledge gained through research is available to as many experts as possible, so we can find answers faster and make a difference for patients. Working with Congress, we can also lock in the strong investment in cancer research that passed in 2016 as part of the broadly bipartisan 21st Century Cures Act, which otherwise expires this year.

Providing patient navigation support to every American facing cancer. The Biden-Harris Administration will take steps to ensure that patient navigation services – services that help guide individuals, caregivers, and families through cancer screening, diagnosis, treatment, and survivorship – are covered benefits going forward for as many people facing cancer as possible. These patient navigation services not only improve the experience for those patients and their families, they improve patient outcomes and provide value back to the health care system. 

Tackling the biggest single driver of cancer deaths in this country – smoking. The Administration is preparing further action to help people avoid smoking in the first place and support Americans who want to quit. These steps could prevent as much as 30 percent of cancer deaths in this country, saving up to 130,000 American lives, annually. While we have made progress, tobacco products still hook too many young people at an early age and take control away from individual Americans to make the decision not to smoke. The Administration is working to put that control back in the hands of Americans.

During his first State of the Union address, President Biden cited the recent announcement of his plan to supercharge the Cancer Moonshot and called on Congress to fund ARPA-H, the Advanced Research Projects Agency for Health, to drive breakthroughs in cancer, Alzheimer’s, diabetes, and other diseases. Since that time, the President and Congress have stepped up together to provide ARPA-H $2.5 billion in initial investment. The President also signed into law the Inflation Reduction Act, which will lower prescription drug costs for tens of thousands of cancer patients with Medicare coverage. The Bipartisan Infrastructure Law will also help cut cancer deaths by accelerating clean-up at Superfund sites and helping states and communities replace lead pipes and service lines.

Supporting America’s Veterans and Their Families, Caregivers, and Survivors
The President believes there is no more sacred obligation than taking care of our nation’s military service members, veterans, and their families, caregivers, and survivors. On health care, education, and housing, the Administration and Congress have worked together to make progress to connect veterans and their families to needed resources. Over the past year, the Administration expanded benefits for veterans as well as their caregivers and survivors, and delivered more benefits and health care more quickly to more veterans than ever before. In 2022, VA processed an all-time record 1.7 million veteran claims, and delivered $128 billion in earned benefits to 6.1 million veterans and survivors. In the State of the Union, the President will announce his Administration plans to continue that work by:

Reducing veteran suicide. Suicide among veterans is a public health and national security crisis. Since 2010, more than 71,000 veterans have died by suicide – more than the total number of deaths from combat during the Vietnam War and operations in Iraq and Afghanistan combined. Since releasing a comprehensive strategy for reducing military and veteran suicide, both DOD and VA reported declines in suicide deaths, but much more remains to be done. This will include actions to:  

  • Support states and territories. The Department of Veterans Affairs (VA) is working with the Departments of Health and Human Services (HHS) and Defense (DOD) to partner with 49 states and 5 territories through the Governor’s Challenge. To help facilitate this work, VA will launch a new $10 million program to provide federal resources to states, territories, Tribes and Tribal organizations to develop and implement proposals under the program.
     
  • Increase lethal means safety: In the coming year, VA will deploy new resources to improve suicide risk identification and increase lethal means safety counseling and safe storage. VA will offer additional training for the 1.3 million community providers and expand KeepItSecure, the landmark lethal means safety campaign, with new resources and materials for providers, caregivers, family members of veterans, and gun shop owners to encourage safe storage of firearms and lethal medications.
     
  • Expand outreach to justice involved veterans. Veterans who become involved in the criminal justice system may be at high risk of suicide. Through Veteran Treatment Courts and other justice outreach engagements, VA is able to provide veterans access to benefits and services that can be life-changing, and VA will accelerate hiring of veteran justice outreach professionals to expand these programs.
     
  • Expand Access to Legal Support Services. VA will build upon and expand its current 28 Medical-Legal Partnerships. Family caregivers participating in VA’s Program of Comprehensive Assistance will also be able to receive Financial and Legal Assistance later this year. VA will also award up to 75 grants under its new Legal Services for Homeless Veterans and Veterans at Risk for Homeless (LSV-H) program to provide legal services to veterans who are homeless or at risk of homelessness.

Expanding access to peer support, including mental health services. Military service increases the risk of mental health problems and other adjustment challenges for veterans. Veteran Peer Specialists are a critical asset within VA’s workforce, working across various programs to connect their fellow veterans to services, participate as members of health care teams, and provide individual and group-based peer support. Last year, VA pledged to hire an additional 280 peer specialists and is on track to meet this goal by the end of 2023. VA will increase the number of peer specialists working across VA medical centers by 350 over the next 7 years.

Ensuring access to affordable, stable housing for low-income veterans. Every veteran should have a roof over their head. The President’s upcoming budget will triple the number of extremely low-income veterans who can access the assistance they need to afford rent over the years ahead, paving the path to an entitlement for those who have served our country. The number of veterans experiencing homelessness declined by 11% between 2020 and 2022 and the United States permanently housed more than 40,000 veterans in 2022 alone. 

Delivering high-quality job training for veterans and their spouses. Roughly 200,000 service members transition from the military to civilian life each year. In the coming year, DOL’s Veteran Employment and Training Service (DOL-VETS) will implement its Employment Navigator Partnership Pilot, which has already provided one-on-one career assistance to 6,500 transitioning service members and military spouses. And, the Department of Defense will use the Military Spouse Career Accelerator Pilot program, a 12-week paid fellowship program, to expand employment opportunities for eligible military spouses.

In last year’s State of the Union, the President called for Congress to pass comprehensive legislation to address military toxic exposures. In August 2022, President Biden signed the bipartisan PACT Act into law, the most significant expansion of benefits and services for toxic exposed veterans in more than 30 years. Over the last year, the Administration also took critical action to help reduce veteran suicide, including transitioning the Veterans Crisis Line to “988, press 1.” The Administration also expanded access to reproductive health services for women veterans, supported more than 2.3 million children living with wounded, ill, or injured service members through the First Lady’s Joining Forces Initiative, and implemented key measures to protect veterans from predatory for-profit colleges.

Tackling the Mental Health Crisis
Forty percent of American adults report symptoms of anxiety and depression, and the percent of children and adolescents with anxiety and depression has risen nearly thirty percent. Last year, President Biden called for additional actions to advance his Mental Health Strategy across its three objectives: support Americans by creating healthy environments; strengthening system capacity, and connecting more Americans to care.  Over the last year, the Administration invested critical resources to provide mental health and substance use supports to Americans, including by expanding Certified Community Behavioral Health Clinics, investing unprecedented resources in the 988 suicide prevention hotline, and taking steps to help address the harms of social media on youth. In the State of the Union, the President will say that we will continue that work by:

Creating healthy environments. Decades of research show that coordinating prevention and recovery support across settings can pay long-term dividends. The Biden-Harris Administration will:

  • Protect kids online. There is compelling and growing evidence that social media and other tech platforms can be harmful to mental health, wellbeing and development. Children, adolescents, and teens are especially vulnerable to such harm. More than one-third of American teens say they use a major social media platform “almost constantly” and that they spend “too much time on social media.” Far too often, the platforms do not enforce their own terms of service with respect to minors who use their products and services. Children are also subject to the platforms’ excessive data collection vacuum, which they use to deliver sensational and harmful content and troves of paid advertising. Children also suffer from bullying, harassment, abuse, and even sexual exploitation by other users online. And platforms use manipulative design techniques embedded in their products to promote addictive and compulsive use by young people in the name of “user engagement” – all to generate more revenue. The Administration will build on the Surgeon-General’s Youth Mental Health Advisory, the Department of Health and Human Services’ new Center of Excellence on Social Media and Mental Wellness, and the recent passage of the Children and Media Research Advancement Act. Platforms and other interactive digital service providers should be required to prioritize the privacy and wellbeing of young people above profit and revenue in their product design, including safety by design standards and practices for online platforms, products, and services. The President is calling for bipartisan support to ban targeted advertising online for children and young people and enact strong protections for their privacy, health and safety online.
     
  • Strengthen data privacy and platform transparency for all Americans: Big Tech companies collect huge amounts of data on the things we buy, the websites we visit, and the places we go.  There should be clear and strict limits on the ability to collect, use, transfer, and maintain our personal data, especially for sensitive data such as geolocation and health information, and the burden must fall on companies – not consumers – to minimize how much information they collect. We must also demand transparency about the algorithms companies use that far too often discriminate against Americans and sow division. The President has called for imposing much stronger transparency requirements on Big Tech platforms and is calling for bipartisan support to impose strong limits on targeted advertising and the personal data that companies collect on all Americans.
     
  • Support the mental health of the health workforce. Even before the pandemic, health workers were experiencing high levels of burnout, anxiety, and depression. Studies have shown that burnout have reached crisis levels, affecting up to 54 percent of nurses and physicians. This year, the Centers for Disease Control and Prevention will launch a new campaign to provide a hub of mental health and resiliency resources to health care organizations in better supporting their workforce
     
  • Promote youth resilience. While rates of anxiety, depression, and self-harm among youth have been on the rise over the past several years, there are also remarkable stories of hope and resilience. To help foster innovation in promoting resilience, HHS will launch a new Children and Youth Resilience Prize Challenge, awarding a total of $750,000 in a new pilot program.  

Connecting more Americans to care.  On average, it takes 11 years after the onset of mental health symptoms for someone to seek treatment. We can do better. To mitigate these challenges, the Administration is working to make care more affordable and accessible across all types of health insurance, integrating mental health services into settings that are more familiar, such as schools, and expanding access to telehealth. To continue this progress, the Biden Administration will:

  • Improve school-based mental health. The Department of Education (ED) will announce more than $280 million in grants to increase the number of mental health care professionals in high-need districts and strengthen the school-based mental health profession pipeline. HHS and ED intend to issue guidance and propose a rule, respectively, to remove red tape for schools, making it easier for them to provide health care to students and more easily bill Medicaid funding for these critical services.
     
  • Strengthen parity. This spring, the Administration will propose new rules to ensure that insurance plans are not imposing inequitable barriers to care and mental health providers are being paid by health plans on par with other health care professionals.
     
  • Enhance crisis services. The Administration launched 988, the National Suicide & Crisis Lifeline, in 2022, making it easier for individuals experiencing a behavioral health crisis to receive timely care. In the coming year, HHS will improve the capacity of the 988 Lifeline by investing in an expansion of the crisis care workforce; scaling mobile crisis intervention services; and developing additional guidance on best practices in crisis response. 
     
  • Expand access to telehealth. HHS will triple resources dedicated to promoting interstate license reciprocity for delivery of mental health services across state lines. VA will launch a new nationwide network of behavioral health clinicians to ensure timely access to evidence-based mental health services to veterans enrolled in VA health care. And, DoD will continue to expand the BRAVE program, a virtual behavioral health center providing services 24/7 to service members and their families located on federal installations across the globe.

Strengthening system capacity. Severe shortages in the behavioral health workforce are at the center of the mental health crisis. In addition to implementing legislation passed by Congress that creates 350 new slots to help train the next generation of mental health professionals, the Administration will:

  • Recruit diverse candidates to the mental health profession: HHS will increase funding to recruit future mental health professionals from Historically Black Colleges and Universities and to expand the Minority Fellowship Program.
     
  • Prioritize research: The Office of Science and Technology Policy and Domestic Policy Council released the White House Report on Mental Health Research Priorities, which identifies key areas where additional scientific research is needed to address our national mental health crisis. These priorities will ensure coordination across the federal agencies and private sector partners that support or perform mental health research.

Last year, after the President called for addressing the nation’s mental health crisis in the State of the Union, the Administration made important progress on expanding access to mental health services and treatment for substance use. President Biden signed into law the Bipartisan Safer Communities Act, which makes unprecedented investment in youth mental health and supports school-based health services. The Administration also oversaw the successful transition to 988, the National Suicide & Crisis Lifeline, investing over $500 million to strengthen 988 infrastructure and grow local crisis-center capacity – a twenty-fold increase over the prior administration. The Biden Administration also developed new resources to support the mental health and resilience of frontline workers, expanded Medicare coverage to include additional mental health and substance use disorder services, and encouraged states to better address youth mental health for those with Medicaid coverage.

Beating the Opioid and Overdose Epidemic by Accelerating the Crackdown on Fentanyl Trafficking and Public Health Efforts to Save Lives
Last year, President Biden announced his plan to beat the opioid epidemic as part of his Unity Agenda, because opioid use and trafficking affect families in red communities and blue communities and every community in between. Under President Biden’s leadership, overdose deaths and poisonings have decreased for five months in a row – but these deaths remain unacceptably high and are primarily caused by fentanyl. In the State of the Union, the President will announce key actions the Administration to tackle this issue head on, including by:  

Disrupting the trafficking, distribution, and sale of fentanyl. In just the last year Customs and Border Protection (CBP) has seized a historic 260,000 pounds of illicit drugs primarily at ports of entry on our border, including nearly 15,000 pounds of fentanyl. The Drug Enforcement Administration and the White House Office of National Drug Control Policy’s (ONDCP) High-Intensity Drug Trafficking Areas (HIDTA) program were involved in the seizure of more than 26,000 pounds of fentanyl in FY22—including 50.6 million fentanyl-laced counterfeit prescription pills—along with over 6,500 pounds of heroin, 335,000 pounds of methamphetamine, and 370,000 pounds of cocaine. The HIDTA seizures denied $9 billion to drug traffickers, cutting into their profits. Further, through President Biden’s Executive Order on Imposing Sanctions on Foreign Persons Involved in the Global Illicit Drug Trade, the Department of the Treasury has imposed sanctions against dozens of individuals and entities involved in the illicit drug trade. To aggressively expand on this historic effort, the President will announce in the State of Union that his administration will:

  • Stop more fentanyl from getting into the U.S. at the Southwest Border Ports of Entry. By providing 123 new large-scale scanners at Land Points of Entry along the Southwest Border by Fiscal Year 2026, Customs and Border Protection (CBP) will increase its inspection capacity from what has historically been around two percent of passenger vehicles and about 17 percent of cargo vehicles to 40 percent of passenger vehicles and 70 percent of cargo vehicles. These investments will crack down on a major avenue of fentanyl trafficking, securing our border and keeping dangerous drugs from reaching our country.
     
  • Stop more packages from being shipped into the United States with fentanyl and the materials used to make it. Drug traffickers use small, hard-to-track packages to ship opioids and other illicit materials into and within the United States, hidden among the millions of packages sent daily via commercial package delivery companies. That’s why CBP is working with these companies to have them voluntarily provide data that help law enforcement identify, inspect and intercept suspicious packages. Through these combined public-private efforts, CBP has increased seizures in commercial package delivery services’ warehouses from 42,000 pounds of illicit substances to more than 63,000 pounds in just the past two years. This year, CBP will expand these voluntary data sharing partnerships to capture more information – and, in turn, seize more packages.
     
  • Lead a sustained diplomatic push that will address fentanyl and its supply chain abroad.  The Administration will work with international partners to disrupt the global fentanyl production and supply chain, and call on others to join our efforts. We will focus on seizing chemical ingredients and fentanyl before it can reach our communities, and hold accountable the producers, traffickers, and facilitators of these deadly drugs. Many of these ingredients and materials originate outside our borders, and we will call on global partners to work with us and do more to disrupt the criminal elements within their countries who sell chemicals and tools for the production of counterfeit pills around the world.
     
  • Work with Congress to make permanent tough penalties on suppliers of fentanyl. The federal government regulates illicitly produced fentanyl analogues and related substances as Schedule I drugs, meaning they are subject to strict regulations and criminal penalties. But traffickers have found a loophole: they can easily alter the chemical structure of fentanyl—creating “fentanyl related substances” (FRS)—to evade regulation and enhance the drug’s impact. The DEA and Congress temporarily closed this loophole by making all FRS Schedule I. The Administration looks forward to working with Congress on its comprehensive proposal to permanently schedule all illicitly produced FRS into Schedule I. Traffickers of these deadly substances must face the penalties they deserve, no matter how they adjust their drugs.

Expanding access to evidence-based prevention, harm reduction, treatment, and recovery. Over the last year, the Biden-Harris Administration took unprecedented steps to expand access to naloxone and other harm reduction interventions, such as permitting the use of $50 million for local public health departments to purchase naloxone, releasing guidance to make it easier for programs to obtain and distribute naloxone to at-risk populations, and prioritizing the review of over-the-counter naloxone applications. The Administration has also fundamentally changed addiction treatment across the country by working with Congress to remove barriers that prevented medical professionals from prescribing treatment for opioid use disorder and pursuing rulemaking to make permanent the COVID-19 era flexibilities that allowed for telehealth prescribing of buprenorphine and take-home methadone doses. To further connect people to life-saving help, the Biden-Harris Administration will:

  • Deliver more life-saving naloxone to communities hit hard by fentanyl. In late spring, HHS will take new steps to encourage and aide states in their efforts to use existing funding to purchase naloxone and distribute it in their communities. The Substance Abuse and Mental Health Services Administration (SAMHSA) will provide enhanced technical assistance to states who have existing State Opioid Response funds, and will host peer learning forums, national policy academies, and convenings with organizations distributing naloxone beginning this spring.
     
  • Ensure every jail and prison across the nation can provide treatment for substance use disorder. Providing treatment while individuals are in jails and prisons, and continuing their treatment in their communities, has been proven to decrease overdose deaths, reduce crime, and increase employment during reentry. By this summer, the Federal Bureau of Prisons will ensure that each of their 122 facilities are equipped and trained to provide in-house medication-assisted treatment (MAT). Further, since more than 90 percent of individuals who are incarcerated are in state and local jails and prisons, the Centers for Medicare and Medicaid Services will provide guidance this spring allowing states to use Medicaid funds to provide health care services—including treatment for people with substance use disorder—to individuals in those facilities prior to their release.
     
  • Build on historic progress to drastically expand access to medications for opioid use disorder. The Biden-Harris Administration will further expand access to treatment by working with medical professionals to make prescribing proven treatments, including buprenorphine for opioid use disorder, part of routine health care delivery and ensure that manufacturers, wholesalers, and pharmacies are making medications available to everyone with a prescription. 
     
  • Launch a national campaign to educate young people on the dangers of fentanyl, and how naloxone saves lives. The Ad Council’s Real Deal on Fentanyl campaign has raised awareness about the dangers of fentanyl among youth. ONDCP and the Ad Council will build on this work by launching a naloxone education component of the campaign, which will reach the young people who are the fastest-growing age group to experience opioid overdose and poisoning by engaging popular social media platforms, college athletes and campus-based organizations. The campaign will also develop media to be shared on college campuses, in bars, public transportation stations, and retail locations to educate young people about the dangers of fentanyl and highlight naloxone resources.

During his first State of the Union address, President Biden called on Congress to get rid of outdated rules that stop doctors from prescribing treatments and provide law enforcement with the tools necessary to stop the flow of illicit drugs like fentanyl. In his State of the Union today, President Biden will highlight a bipartisan effort that delivered on his promise by passing the MAT Act, which removed the X-waiver as a barrier for health care providers prescribing life-saving medications for opioid use disorder at a time when fewer than 1 out of Americans can access the treatment they need. President Biden also signed into law the Consolidated Appropriations Act that included a two-year extension to classify fentanyl-related substances as Schedule I substances under the Controlled Substances Act, ensuring law enforcement has the tools they need to respond to the manufacture and trafficking of illicitly manufactured synthetic opioids driving the overdose epidemic.

Biden Administration, Jewish issues, Joe Biden

President Biden Marks International Holocaust Remembrance Day

Crematorium at Mauthausen Concentration Camp one of the killing centers in Hitler’s Final Solution. On International Holocaust Remembrance Day, President Biden denounced the rise in antisemitism, Holocaust deniers and those who are complicit © Karen Rubin/news-photos-features.com

Jill and I will pause to mourn the six million Jews who were systematically and savagely murdered by the Nazis and their collaborators during the Holocaust — and to grieve the Roma and Sinti, Slavs, people with disabilities, LGBTQ+ individuals, and political dissidents who were also killed. As we join nations around the world in bearing witness to this dark chapter in our shared history, we also honor survivors and their stories—pledging to always remember, and to keep faith with that sacred vow: “never again.”
 
“Never again” was a promise my father first instilled in me at our family dinner table, educating me and my siblings about the horrors of the Shoah. It’s a lesson I’ve passed on to my own children and grandchildren by taking them to Dachau to understand for themselves the depths of this evil—and the complicity of those who knew what was happening, yet said nothing. Seeing neo-Nazis and white nationalists march from the shadows in Charlottesville in 2017, spewing the same antisemitic bile we heard in the 1930s in Europe, drove me to run for president.
 
Sadly, we have seen over and over again that hate never goes away. It only hides—waiting to reemerge whenever it is given just a little bit of oxygen. And today, across our country, we are seeing swastikas on cars, antisemitic banners on bridges, verbal and physical attacks against Jewish businesses and Jewish Americans – even Holocaust denialism. It’s vile. It goes against everything we value as Americans. And each of us must speak out against this poison. Together, we must affirm, over and over, that hate has no safe harbor in America. 
 
That is exactly what my Administration is doing. Working with partners around the country, we held a historic White House Summit on combating hate-fueled violence. We appointed the first Ambassador-level Special Envoy to Monitor and Combat Antisemitism. We are developing a national strategy to fight antisemitism. We’ve secured the largest increase in funding ever for the physical security of non-profits—including synagogues and Jewish Community Centers. We continue to support Holocaust survivors to ensure they can live the rest of their lives with dignity and security. And to mark this day of remembrance, the Second Gentleman of the United States, Douglas Emhoff, is participating in a commemoration ceremony at the Auschwitz-Birkenau concentration camp in Poland, and will be visiting Berlin, Germany to coordinate international efforts to combat antisemitism.
 
On International Holocaust Remembrance Day  and every day, the United States stands with Holocaust victims, their families, and their descendants. We remember. We honor their stories. We will face down the hate and the lies that carry in them the terrifying echoes of one of the worst chapters in human history. And for generations to come, we will continue to defend our foundational values as a nation—freedom, equality, and dignity for all human beings.
 

See:

‘THE HOLOCAUST: WHAT HATE CAN DO’ AT MUSEUM OF JEWISH HERITAGE HOLDS LESSONS, WARNING FOR TODAY

GROUNDBREAKING EXHIBIT AT MUSEUM OF JEWISH HERITAGE TRANSPORTS TO ‘AUSCHWITZ: NOT LONG AGO. NOT FAR AWAY’

Biden Administration, Economy, Energy, Joe Biden, News & Photo Features

Biden Chastises Oil Companies for Ungodly Profiteering as ‘Windfall of War;’ Warns of Windfall Profit Tax

American-based oil companies have basically indulged in price-gouging, war-profiteering – as evidenced by record profits during the third quarter. We’re talking Exxon’s highest quarterly profits in its 152-year history. The oil companies have pocketed $100 billion in just 200 days, two and three times the quarterly profit of a year ago, setting historic records. “Their profits are a windfall of war,” President Biden declared, “the windfall from the brutal conflict that’s ravaging Ukraine and hurting tens of millions of people around the globe.” © Karen Rubin/news-photos-features.com

Americans say they are really, really upset about higher gas prices, despite the fact the prices have come down consistently since the peak in the summer ($1.20) and are just about 30c higher per gallon, and that the price rise is largely due to Putin’s genocidal invasion of Ukraine, and but that inflation will affect how they vote. But what is also clear is that American-based oil companies have basically indulged in price-gouging, war-profiteering – as evidenced by record profits during the third quarter. We’re talking Exxon’s highest quarterly profits in its 152-year history. The oil companies have pocketed $100 billion in just 200 days, two and three times the quarterly profit of a year ago, setting historic records. Think about that.

“Their profits are a windfall of war,” President Biden declared, “the windfall from the brutal conflict that’s ravaging Ukraine and hurting tens of millions of people around the globe.  You know, at a time of war, any company receiving historic windfall profits like this has a responsibility to act beyond their narrow self-interest of its executives and shareholders…if they don’t, they’re going to pay a higher tax on their excess profits and face other restrictions. ..It’s time for these companies to stop war profiteering, meet their responsibilities to this country, and give the American people a break and still do very well.” 

And here’s my question: the oil companies are using billions of that profit to buy back their stock, rather than reinvest or do something productive with all that cash. Why don’t they instead  be the ones developing, installing and owning clean, renewable energy technologies – be part of the solution to carbon-emissions-caused global warming and climate change, rather than the cause. They could be developing battery-storage technologies, EV charging infrastructure, cheaper and better solar panels and wind turbines. Instead, they spend their untold billions to lobby lawmakers to challenge climate action and propagandize climate change denial.

Here’s another issue: they are deliberately keeping gas prices high because they know it may hurt Democrats’ control of Congress, and stop, even reverse Biden’s progress on climate action and a transition to clean, renewable energy.

Here are the facts, provided by the White House, and President Biden’s remarks – Karen Rubin/news-photos-features.com

Oil companies are posting record profits. Over the last two quarters alone, ExxonMobil, Chevron, Shell, BP, ConocoPhillips, and TotalEnergy earned over $100 billion in profits. That is more than they earned all of last year, and more thantwo-and-a-half times what they earned in the same quarters of 2021.

Oil companies are overcharging American families at the pump. Today, profit margins at five of the largest oil companies are higher than their pre-pandemic levels.Refining margins per gallon of gasoline are about 50 cents over historical levels – nearly double what is typical. Diesel profit margins are even larger at about $1.90 above historical levels – more than six times what is typical. 

Oil companies are padding shareholder pockets rather than increasing production. ExxonMobil, Chevron, Shell, BP, ConocoPhillips, and TotalEnergy are spending more money buying back their own shares than investing in raising their productive capacity. Over the last six months, these companies reported spending over $50 billion to buy back their own shares and pay out dividends. That’s about the same amount that these companies returned to shareholders all of last year. In Q2 and Q3 of 2022, the ratio of capital expenditures to earnings of the six large oil companies was only 35%, compared to over 130% during the same quarters from 2017 to 2019 pre-pandemic. 

President Biden remarked on the record oil profits on October 31. Here’s a transcript:

Putin’s invasion of Ukraine in March set gas prices soaring literally around the world — not just here, but around the world. 
 
And because of the action we’ve taken since then, gas prices have actually come down — going into the Strategic Petroleum Reserve — here at home, in America.  They’re down more than $1.20 since their peak this summer.  And they’ve been falling for the best of — best part of the last three weeks. 
 
In June, the average price — not the most common price, but the average price — nationwide was — was over $5 a gallon.  Today, the average price for a gallon of gas is $3.76.  That’s adding up to real savings for American families — the difference between those prices.  And this difference makes a difference. 
 
In a difficult time, Americans across the country have stepped up to do the right thing.  But not everyone has stepped up.  The oil industry has not met its commitment to invest in America and support the American people. 
 
One by one, major oil companies have reported record profits, not just a fair return for hard work.  Every company is entitled to that: a fair return for the work they do or innovation they generate.  But I mean profits so high it’s hard to believe. 
 
Now, the second quarter of the profits were really high.  But the third quarter — last week, Shell announced that it made $9.5 billion in profits for the third quarter — $9.5 billion.  That’s almost twice as much as it made in the third quarter of last year.  I think that’s something.  You think that’s incredible?  I thought, “My — that’s as good as — as high as it’s going to get.” 
 
Then along came Exxon.  Exxon’s profits for the third quarter were at $18.7 billion.  One quarter: $18.7 billion — nearly triple what Exxon made last year and the most in its 152-year history.  It’s never made that much profit. 
 
In the last six months, six of the largest oil companies have made more than $100 billion — $100 billion.  And we had a little discussion about this, the three of us and others.  One hundred billion in profits in two — less than 200 days… 

 
Here’s why it matters: If these companies were making average profits they’ve been making by refining oil over the last 20 years instead of the outrageous profits they’re making today and if they passed the rest on to the consumers, the price of gas would come down around an additional 50 cents. 
 
If they’re investing their profits at historic rates in their U.S. operations, then America would be producing more oil today and prices would be down even further.  But rather than increasing their investments in America or giving American consumers a break, their excess profits are going back to their shareholders and to buying back their stock, so the executive pay is going to skyrocket.
 
Give me a break.  Enough is enough.  Look, I’m a capitalist.  You’ve heard me say this before: I have no problem with corporations turning a fair profit or getting the return on their investment and innovation.  But this isn’t remotely what’s happening. 
 
Oil companies’ record profits today are not because they’re doing something new or innovative.  Their profits are a windfall of war — the windfall from the brutal conflict that’s ravaging Ukraine and hurting tens of millions of people around the globe.  You know, at a time of war, any company receiving historic windfall profits like this has a responsibility to act beyond their narrow self-interest of its executives and shareholders. 
 
I think they have a responsibility to act in the interest of their consumers, their community, and their country; to invest in America by increasing production and refining capacity.  Because they — they don’t want to do that.  They — they have the opportunity to do that — lowering prices for consumers at the pump.
 
You know, if they don’t, they’re going to pay a higher tax on their excess profits and face other restrictions.  My team will work with Congress to look at these options that are available to us and others.  It’s time for these companies to stop war profiteering, meet their responsibilities to this country, and give the American people a break and still do very well. 
 
The American people are going to judge who’s standing with them and who is only looking out for their own bottom line.  I know where I stand.

Biden Administration, Foreign Policy, Foreign Relations, Joe Biden, National Security

FACT SHEET: The Biden-Harris Administration’s National Security Strategy

Read the full strategy here


President Joe Biden outlined much of his National Security Strategy in his address to the United Nations General Assembly © Karen Rubin/news-photos-features.com via MSNBC.

The White House released this fact sheet outlining the Biden-Harris Administration National Security Strategy:

President Biden’s National Security Strategy outlines how the United States will advance our vital interests and pursue a free, open, prosperous, and secure world. We will leverage all elements of our national power to out-compete our strategic competitors; tackle shared challenges; and shape the rules of the road.

The Strategy is rooted in our national interests: to protect the security of the American people, to expand economic opportunity, and to realize and defend the democratic values at the heart of the American way of life. In pursuit of these objectives, we will:

  • Invest in the underlying sources and tools of American power and influence;
  • Build the strongest possible coalition of nations to enhance our collective influence to shape the global strategic environment and to solve shared challenges; and
  • Modernize and strengthen our military so it is equipped for the era of strategic competition.

COOPERATION IN THE AGE OF COMPETITION
In the early years of this decisive decade, the terms of geopolitical competition will be set while the window of opportunity to deal with shared challenges will narrow. We cannot compete successfully to shape the international order unless we have an affirmative plan to tackle shared challenges, and we cannot do that unless we recognize how heightened competition affects cooperation and act accordingly.

Strategic Competition. The most pressing strategic challenge we face as we pursue a free, open, prosperous, and secure world are from powers that layer authoritarian governance with a revisionist foreign policy.

  • We will effectively compete with the People’s Republic of China, which is the only competitor with both the intent and, increasingly, the capability to reshape the international order, while constraining a dangerous Russia.
  • Strategic competition is global, but we will avoid the temptation to view the world solely through a competitive lens, and engage countries on their own terms.

Shared Challenges. While this competition is underway, people all over the world are struggling to cope with the effects of shared challenges that cross borders—whether it is climate change, food insecurity, communicable diseases, or inflation. These shared challenges are not marginal issues that are secondary to geopolitics. They are at the very core of national and international security and must be treated as such.

  • We are building the strongest and broadest coalition of nations to enhance our collective capacity to solve these challenges and deliver for the American people and those around the world.
  • To preserve and increase international cooperation in an age of competition, we will pursue a dual-track approach. On one track, we will work with any country, including our competitors, willing to constructively address shared challenges within the rules-based international order and while working to strengthen international institutions. On the other track, we will deepen cooperation with democracies at the core of our coalition, creating a latticework of strong, resilient, and mutually reinforcing relationships that prove democracies can deliver for their people and the world.

INVESTING AT HOME
The Biden-Harris Administration has broken down the dividing line between domestic and foreign policy because our strength at home and abroad are inextricably linked. The challenges of our age, from strategic competition to climate change, require us to make investments that sharpen our competitive edge and bolster our resilience.

  • Our democracy is at the core of who we are and is a continuous work in progress. Our system of government enshrines the rule of law and strives to protect the equality and dignity of all individuals. As we strive to live up to our ideals, to reckon with and remedy our shortcomings, we will inspire others around the world to do the same.
  • We are complementing the innovative power of the private sector with a modern industrial strategy that makes strategic public investments in our workforce, strategic sectors, and supply chains, especially in critical and emerging technologies.
  • A powerful U.S. military helps advance and safeguard vital U.S. national interests by backstopping diplomacy, confronting aggression, deterring conflict, projecting strength, and protecting the American people and their economic interests. We are modernizing our military, pursuing advanced technologies, and investing in our defense workforce to best position America to defend our homeland, our allies, partners, and interests overseas, and our values across the globe.

OUR ENDURING LEADERSHIP
The United States will continue to lead with strength and purpose, leveraging our national advantages and the power of our alliances and partnerships. We have a tradition of transforming both domestic and foreign challenges into opportunities to spur reform and rejuvenation at home. The idea that we should compete with major autocratic powers to shape the international order enjoys broad support that is bipartisan at home and deepening abroad.

  • Our alliances and partnerships around the world are our most important strategic asset that we will deepen and modernize for the benefit of our national security.
  • We place a premium on growing the connective tissue on technology, trade and security between our democratic allies and partners in the Indo-Pacific and Europe because we recognize that they are mutually reinforcing and the fates of the two regions are intertwined.
  • We are charting new economic arrangements to deepen economic engagements with our partners and shaping the rules of the road to level the playing field and enable American workers and businesses—and those of partners and allies around the world—to thrive.
  • As we deepen our partnerships around the world, we will look for more democracy, not less, to shape the future. We recognize that while autocracy is at its core brittle, democracy’s inherent capacity to transparently course-correct enables resilience and progress.

AFFIRMATIVE ENGAGEMENT
The United States is a global power with global interests; we are stronger in each region because of our engagement in the others. We are pursuing an affirmative agenda to advance peace and security and to promote prosperity in every region.

  • As an Indo-Pacific power, the United States has a vital interest in realizing a region that is open, interconnected, prosperous, secure, and resilient. We are ambitious because we know that we and our allies and partners hold a common vision for the region’s future.
  • With a relationship rooted in shared democratic values, common interests, and historic ties, the transatlantic relationship is a vital platform on which many other elements of our foreign policy are built. To effectively pursue a common global agenda, we are broadening and deepening the transatlantic bond.
  • The Western Hemisphere directly impacts the United States more than any other region so we will continue to revive and deepen those partnerships to advance economic resilience, democratic stability, and citizen security.
  • A more integrated Middle East that empowers our allies and partners will advance regional peace and prosperity, while reducing the resource demands the region makes on the United States over the long term.
  • In Africa, the dynamism, innovation, and demographic growth of the region render it central to addressing complex global problems.
Climate Change, Democracy, Foreign Relations, Global Affairs, Human Rights, Joe Biden, News & Photo Features, President Joe Biden

Biden at UN Slams Russia’s Ukraine Invastion, Calls for Action on Climate Change, Human Rights, Global Health, Nuclear NonProliferation

President Joe Biden at the United Nations General Assembly: So let’s stand together to again declare the unmistakable resolve that nations of the world are united still, that we stand for the values of the U.N. Charter, that we still believe by working together we can bend the arc of history toward a freer and more just world for all our children, although none of us have fully achieved it. © Karen Rubin/news-photos-features via msnbc.

President Joe Biden presented America’s foreign policy manifesto in his speech to the United Nations 77th General Assembly in New York, asserting a world striving toward equity, shared progress, social, economic and environmental justice, just as he has endeavored to implement at home. He called out Russia, China and others for their human rights abuses, called for climate action, global health initiatives, food security, cooperation rather than competition on the technology advances to improve the lives of everyone. He called for diplomacy instead of conflict and a reaffirmation of the rule of law and the essential founding principles embodied in the United Nations Charter.

“So let’s stand together to again declare the unmistakable resolve that nations of the world are united still, that we stand for the values of the U.N. Charter, that we still believe by working together we can bend the arc of history toward a freer and more just world for all our children, although none of us have fully achieved it,” Biden declared. “We’re not passive witnesses to history; we are the authors of history. We can do this — we have to do it — for ourselves and for our future, for humankind.”

Here is an edited, highlighted transcript – Karen Rubin/news-photos-features.com

11:08 A.M. EDT
 
THE PRESIDENT:  Thank you. 
 
Mr. President, Mr. Secretary-General, my fellow leaders, in the last year, our world has experienced great upheaval: a growing crisis in food insecurity; record heat, floods, and droughts; COVID-19; inflation; and a brutal, needless war — a war chosen by one man, to be very blunt. 
 
Russia’s Invasion of Ukraine

Let us speak plainly.  A permanent member of the United Nations Security Council invaded its neighbor, attempted to erase a sovereign state from the map. 
 
Russia has shamelessly violated the core tenets of the United Nations Charter — no more important than the clear prohibition against countries taking the territory of their neighbor by force. 
 
Again, just today, President Putin has made overt nuclear threats against Europe and a reckless disregard for the responsibilities of the non-proliferation regime. 
 
Now Russia is calling — calling up more soldiers to join the fight.  And the Kremlin is organizing a sham referenda to try to annex parts of Ukraine, an extremely significant violation of the U.N. Charter. 
 
This world should see these outrageous acts for what they are.  Putin claims he had to act because Russia was threatened.  But no one threatened Russia, and no one other than Russia sought conflict. 
 
In fact, we warned it was coming.  And with many of you, we worked to try to avert it.
 
Putin’s own words make his true purpose unmistakable.  Just before he invaded, Putin asserted — and I quote — Ukraine was “created by Russia” and never had, quote, “real statehood.”
 
And now we see attacks on schools, railway stations, hospitals, wa- — on centers of Ukrainian history and culture. 

In the past, even more horrifying evidence of Russia’s atrocity and war crimes: mass graves uncovered in Izyum; bodies, according to those that excavated those bodies, showing signs of torture. 
 
This war is about extinguishing Ukraine’s right to exist as a state, plain and simple, and Ukraine’s right to exist as a people.  Whoever you are, wherever you live, whatever you believe, that should not — that should make your blood run cold.
 
That’s why 141 nations in the General Assembly came together to unequivocally condemn Russia’s war against Ukraine.  The United States has marshaled massive levels of security assistance and humanitarian aid and direct economic support for Ukraine — more than $25 billion to date. 
 
Our allies and partners around the world have stepped up as well.  And today, more than 40 countries represented in here have contributed billions of their own money and equipment to help Ukraine defend itself. 
 
The United States is also working closely with our allies and partners to impose costs on Russia, to deter attacks against NATO territory, to hold Russia accountable for the atrocities and war crimes.
 
Because if nations can pursue their imperial ambitions without consequences, then we put at risk everything this very institution stands for.  Everything.
 
Every victory won on the battlefield belongs to the courageous Ukrainian soldiers.  But this past year, the world was tested as well, and we did not hesitate. 
 
We chose liberty.  We chose sovereignty.  We chose principles to which every party to the United Nations Charter is beholding.  We stood with Ukraine.
 
Like you, the United States wants this war to end on just terms, on terms we all signed up for: that you cannot seize a nation’s territory by force.  The only country standing in the way of that is Russia. 
 
So, we — each of us in this body who is determined to uphold the principles and beliefs we pledge to defend as members of the United Nations — must be clear, firm, and unwavering in our resolve. 
 
Ukraine has the same rights that belong to every sovereign nation.  We will stand in solidarity with Ukraine.  We will stand in solidarity against Russia’s aggression.  Period.
 
The US Will Defend Democracy

Now, it’s no secret that in the contest between democracy and autocracy, the United States — and I, as President — champion a vision for our world that is grounded in the values of democracy. 
 
The United States is determined to defend and strengthen democracy at home and around the world.  Because I believe democracy remains humanity’s greatest instrument to address the challenges of our time. 
 
We’re working with the G7 and likeminded countries to prove democracies can deliver for their citizens but also deliver for the rest of the world as well. 
 
Reaffirm the United Nations’ Founding Principles

But as we meet today, the U.N. Charter — the U.N. Charter’s very basis of a stable and just rule-based order is under attack by those who wish to tear it down or distort it for their own political advantage. 
 
And the United Nations Charter was not only signed by democracies of the world, it was negotiated among citizens of dozens of nations with vastly different histories and ideologies, united in their commitment to work for peace. 
 
As President Truman said in 1945, the U.N. Charter — and I quote — is “proof that nations, like men, can state their differences, can face them, and then can find common ground on which to stand.”  End of quote.
 
That common ground was so straightforward, so basic that, today, 193 of you — 193 member states — have willingly embraced its principles.  And standing up for those principles for the U.N. Charter is the job of every responsible member state. 
 
I reject the use of violence and war to conquer nations or expand borders through bloodshed.
 
To stand against global politics of fear and coercion; to defend the sovereign rights of smaller nations as equal to those of larger ones; to embrace basic principles like freedom of navigation, respect for international law, and arms control — no matter what else we may disagree on, that is the common ground upon which we must stand. 
 
If you’re still committed to a strong foundation for the good of every nation around the world, then the United States wants to work with you. 
 
The UN Should Become More Inclusive

I also believe the time has come for this institution to become more inclusive so that it can better respond to the needs of today’s world.
 
Members of the U.N. Security Council, including the United States, should consistently uphold and defend the U.N. Charter and refrain — refrain from the use of the veto, except in rare, extraordinary situations, to ensure that the Council remains credible and effective.
 
That is also why the United States supports increasing the number of both permanent and non-permanent representatives of the Council.  This includes permanent seats for those nations we’ve long supported and permanent seats for countries in Africa, Latin America, and the Caribbean.
 
The United States is committed to this vital work.  In every region, we pursued new, constructive ways to work with partners to advance shared interests, from elevating the Quad in the Indo-Pacific; to signing the Los Angeles Declaration of Migration and Protection at the Summit of the Americas; to joining a historic meeting of nine Arab leaders to work toward a more peaceful, integrated Middle East; to hosting the U.S.-Africa Leaders’ Summit in — this December.
 
Relentless Diplomacy to Tackle Challenges

As I said last year, the United States is opening an era of relentless diplomacy to address the challenges that matter most to people’s lives — all people’s lives: tackling the climate crisis, as the previous speaker spoke to; strengthening global health security; feeding the world — feeding the world.
 
We made that priority.  And one year later, we’re keeping that promise.
 
From the day I came to office, we’ve led with a bold climate agenda.  We rejoined the Paris Agreement, convened major climate summits, helped deliver critical agreements on COP26.  And we helped get two thirds of the world GDP on track to limit warming to 1.5 degrees Celsius. 
 
And now I’ve signed a historic piece of legislation here in the United States that includes the biggest, most important climate commitment we have ever made in the history of our country: $369 billion toward climate change.  That includes tens of billions in new investments in offshore wind and solar, doubling down on zero emission vehicles, increasing energy efficiency, supporting clean manufacturing.
 
Our Department of Energy estimates that this new law will reduce U.S. emissions by one gigaton a year by 2030 while unleashing a new era of clean-energy-powered economic growth.
 
Our investments will also help reduce the cost of developing clean energy technologies worldwide, not just the United States.  This is a global gamechanger — and none too soon.  We don’t have much time.
 
Climate Crisis

We all know we’re already living in a climate crisis.  No one seems to doubt it after this past year.  As we meet, much of Pakistan is still underwater; it needs help.  Meanwhile, the Horn of Africa faces unprecedented drought. 
 
Families are facing impossible choices, choosing which child to feed and wondering whether they’ll survive.
 
This is the human cost of climate change.  And it’s growing, not lessening.
 
So, as I announced last year, to meet our global responsibility, my administration is working with our Congress to deliver more than $11 billion a year to international climate finance to help lower-income countries implement their climate goals and ensure a just energy transition.
 
The key part of that will be our [PREPARE] plan, which will help half a billion people, and especially vulnerable countries, adapt to the impacts of climate change and build resilience.
 
This need is enormous.  So let this be the moment we find within ourselves the will to turn back the tide of climate devastation and unlock a resilient, sustainable, clean energy economy to preserve our planet.
 
Global Health

On global health, we’ve delivered more than 620 million doses of COVID-19 vaccine to 116 countries around the world, with more available to help meet countries’ needs — all free of charge, no strings attached.
 
And we’re working closely with the G20 and other countries.  And the United States helped lead the change to establish a groundbreaking new Fund for Pandemic Prevention, Preparedness, and Response at the World Bank.
 
At the same time, we’ve continued to advance the ball on enduring global health challenges.
 
Later today, I’ll host the Seventh Replenishment Conference for the Global Fund to Fight AIDS, Tuberculosis, and Malaria.  With bipartisan support in our Congress, I have pledged to contribute up to $6 billion to that effort.
 
So I look forward to welcoming a historic round of pledges at the conference resulting in one of the largest global health fundraisers ever held in all of history.
 
Food Crisis

We’re also taking on the food crisis head on.  With as many as 193 million people around the world experiencing acute — acute food insecurity — a jump of 40 million in a year — today I’m announcing another $2.9 billion in U.S. support for lifesaving humanitarian and food security assistance for this year alone.
 
Russia, in the meantime, is pumping out lies, trying to pin the blame for the crisis — the food crisis — onto sanctions imposed by many in the world for the aggression against Ukraine. 
 
So let me be perfectly clear about something: Our sanctions explicitly allow — explicitly allow Russia the ability to export food and fertilizer.  No limitation.  It’s Russia’s war that is worsening food insecurity, and only Russia can end it.
 
I’m grateful for the work here at the U.N. — including your leadership, Mr. Secretary-General — establishing a mechanism to export grain from Black Sea ports in Ukraine that Russia had blocked for months, and we need to make sure it’s extended.
 
We believe strongly in the need to feed the world.  That’s why the United States is the world’s largest supporter of the World Food Programme, with more than 40 percent of its budget.
 
We’re leading support — we’re leading support of the UNICEF efforts to feed children around the world. 
 
And to take on the larger challenge of food insecurity, the United States introduced a Call to Action: a roadmap eliminating global food insecurity — to eliminating global food insecurity that more than 100 nation member states have already supported.
 
In June, the G7 announced more than $4.5 billion to strengthen food security around the world.
 
Through USAID’s Feed the Future initiative, the United States is scaling up innovative ways to get drought- and heat-resistant seeds into the hands of farmers who need them, while distributing fertilizer and improving fertilizer efficiency so that farmers can grow more while using less.
 
And we’re calling on all countries to refrain from banning food exports or hoarding grain while so many people are suffering.  Because in every country in the world, no matter what else divides us, if parents cannot feed their children, nothing — nothing else matters if parents cannot feed their children.
 
Rules of the Road for International Cooperation

As we look to the future, we’re working with our partners to update and create rules of the road for new challenges we face in the 21st century.
 
We launched the Trade and Technology Council with the European Union to ensure that key technologies — key technologies are developed and governed in the way that benefits everyone. 
 
With our partner countries and through the U.N., we’re supporting and strengthening the norms of responsibility — responsible state behavior in cyberspace and working to hold accountable those who use cyberattacks to threaten international peace and security. 
 
With partners in the Americas, Africa, Europe, and the Middle East, and the Indo-Pacific, we’re working to build a new economic ecosystem while — where every nation — every nation gets a fair shot and economic growth is resilient, sustainable, and shared. 
 
That’s why the United States has championed a global minimum tax.  And we will work to see it implemented so major corporations pay their fair share everywhere — everywhere.
 
It’s also been the idea behind the Indo-Pacific Economic Framework, which the United States launched this year with 13 other Indo-Pacific economies.  We’re working with our partners in ASEAN and the Pacific Islands to support a vision for a critical Indo-Pacific region that is free and open, connected and prosperous, secure and resilient.
 
Together with partners around the world, we’re working to secure resilient supply chains that protect everyone from coercion or domination and ensure that no country can use energy as a weapon.
 
And as Russia’s war riles the global economy, we’re also calling on major global creditors, including the non-Paris Club countries, to transparently negotiate debt forgiveness for lower-income countries to forestall broader economic and political crises around the world. 
 
Instead of infrastructure projects that generate huge and large debt without delivering on the promised advantages, let’s meet the enormous infrastructure needs around the world with transparent investments — high-standard projects that protect the rights of workers and the environment — keyed to the needs of the communities they serve, not to the contributor.
 
That’s why the United States, together with fellow G7 partners, launched a Partnership for Global Infrastructure and Investment.  We intend to collectively mobilize $600 billion
in investment through this partnership by 2027. 
 
Dozens of projects are already underway: industrial-scale vaccine manufacturing in Senegal, transformative solar projects in Angola, first-of-its-kind small modular nuclear power plant in Romania.
 
These are investments that are going to deliver returns not just for those countries, but for everyone.  The United States will work with every nation, including our competitors, to solve global problems like climate change.  Climate diplomacy is not a favor to the United States or any other nation, and walking away hurts the entire world.
 
Relations with China, Nations

Let me be direct about the competition between the United States and China.  As we manage shifting geopolitical trends, the United States will conduct itself as a reasonable leader.  We do not seek conflict.  We do not seek a Cold War.  We do not ask any nation to choose between the United States or any other partner. 
 
But the United States will be unabashed in promoting our vision of a free, open, secure, and prosperous world and what we have to offer communities of nations: investments that are designed not to foster dependency, but to alleviate burdens and help nations become self-sufficient; partnerships not to create political obligation, but because we know our own success — each of our success is increased when other nations succeed as well.
 
When individuals have the chance to live in dignity and develop their talents, everyone benefits.  Critical to that is living up to the highest goals of this institution: increasing peace and security for everyone, everywhere. 
 
The United States will not waver in our unrelenting determination to counter and thwart the continuing terrorist threats to our world.  And we will lead with our diplomacy to strive for peaceful resolution of conflicts. 
 
We seek to uphold peace and stability across the Taiwan Straits. 
 
We remain committed to our One China policy, which has helped prevent conflict for four decades.  And we continue to oppose unilateral changes in the status quo by either side. 
 
We support an African Union-led peace process to end the fight in Ethiopia and restore security for all its people. 
 
In Venezuela, where years of the political oppression have driven more than 6 million people from that country, we urge a Venezuelan-led dialogue and a return to free and fair elections.
 
We continue to stand with our neighbor in Haiti as it faces political-fueled gang violence and an enormous human crisis.
 
And we call on the world to do the same.  We have more to do. 
 
We’ll continue to back the U.N.-mediated truce in Yemen, which has delivered precious months of peace to people that have suffered years of war.
 
And we will continue to advocate for lasting negotiating peace between the Jewish and democratic state of Israel and the Palestinian people.  The United States is committed to Israel’s security, full stop.  And a negotiated two-state solution remains, in our view, the best way to ensure Israel’s security and prosperity for the future and give the Palestinians the state which — to which they are entitled — both sides to fully respect the equal rights of their citizens; both people enjoying equal measure of freedom and dignity.
 
Nuclear Non-Proliferation

Let me also urge every nation to recommit to strengthening the nuclear non-proliferation regime through diplomacy.  No matter what else is happening in the world, the United States is ready to pursue critical arms control measures.  A nuclear war cannot be won and must never be fought. 
 
The five permanent members of the Security Council just reaffirmed that commitment in January.  But today, we’re seeing disturbing trends.  Russia shunned the Non-Proliferation ideals embraced by every other nation at the 10th NPT Review Conference. 
 
And again, today, as I said, they’re making irresponsible nuclear threats to use nuclear weapons.  China is conducting an unprecedented, concerning nuclear buildup without any transparency. 
 
Despite our efforts to begin serious and sustained diplomacy, the Democratic People’s Republic of Korea continues to blatantly violate U.N. sanctions.
 
And while the United States is prepared for a mutual return to the Joint Comprehensive Plan of Action if Iran steps up to its obligations, the United States is clear: We will not allow Iran to acquire a nuclear weapon.
 
I continue to believe that diplomacy is the best way to achieve this outcome.  The nonproliferation regime is one of the greatest successes of this institution.  We cannot let the world now slide backwards, nor can we turn a blind eye to the erosion of human rights.
 
Human Rights

Perhaps singular among this body’s achievements stands the Universal Declaration of Human Rights, which is the standard by which our forebears challenged us to measure ourselves.
 
They made clear in 1948: Human rights are the basis for all that we seek to achieve.  And yet today, in 2022, fundamental freedoms are at risk in every part of our world, from the violations in Xinjiang detailed in recent reports by the Office of U.N. High Commissioner, to the horrible abuses against pro-democracy activists and ethnic minorities by the military regime in Burma, to the increased repression of women and girls by the Taliban in Afghanistan.

And today, we stand with the brave citizens and the brave women of Iran who right now are demonstrating to secure their basic rights.
 
But here’s what I know: The future will be won by those countries that unleash the full potential of their populations, where women and girls can exercise equal rights, including basic reproductive rights, and contribute fully to building a stronger economies and more resilient societies; where religious and ethnic minorities can live their lives without harassment and contribute to the fabric of their communities; where the LGBTQ+ community individuals live and love freely without being targeted with violence; where citizens can question and criticize their leaders without fear of reprisal.
 
The United States will always promote human rights and the values enshrined in the U.N. Charter in our own country and around the world.
 
Let me end with this: This institution, guided by the U.N. Charter and the Universal Declaration of Human Rights, is at its core an act of dauntless hope.

Let me say that again: It’s an act of dauntless hope.
 
Think about the vision of those first delegates who undertook a seemingly impossible task while the world was still smoldering.
 
Think about how divided the people of the world must have felt with the fresh grief of millions dead, the genocidal horrors of the Holocaust exposed.
 
They had every right to believe only the worst of humanity.  Instead, they reached for what was best in all of us, and they strove to build something better: enduring peace; comity among nations; equal rights for every member of the human family; cooperation for the advancement of all humankind.
 
My fellow leaders, the challenges we face today are great indeed, but our capacity is greater.  Our commitment must be greater still.

So let’s stand together to again declare the unmistakable resolve that nations of the world are united still, that we stand for the values of the U.N. Charter, that we still believe by working together we can bend the arc of history toward a freer and more just world for all our children, although none of us have fully achieved it.

We’re not passive witnesses to history; we are the authors of history.
 
We can do this — we have to do it — for ourselves and for our future, for humankind.

Thank you for your tolerance, for listening to me.  I appreciate it very much.  God bless you all.  (Applause.)

11:37 A.M. EDT

Biden Administration, Climate Action, Democrats, Economic Development, Economic Policies, Economy, Health Care, Joe Biden, News & Photo Features

Biden Signs Historic Inflation Reduction Act:  ‘It’s about tomorrow. It’s about delivering progress and prosperity to American families’

Here is an edited, highlighted transcript of President Joe Biden’s remarks as he signed the Inflation Reduction Act, with historic investments in climate action, long-fought improvements in health care and prescription drug affordability, tax reform and deficit reduction, and in the immortal words of Biden as Obama’s VP, a “BFD.” –Karen Rubin/news-photos-features.com

President Joe Biden signs the historic, transformative Inflation Reduction Act, saying “It’s about tomorrow. It’s about delivering progress and prosperity to American families.” The act makes historic investments in climate action, long-fought improvements in health care and prescription drug affordability, tax reform and deficit reduction, and in the immortal words of Biden as Obama’s VP, a “BFD.” (via C-Span)

I’m about to sign the Inflation Reduction Act into law, one of the most significant laws in our history.  Let me say from the start: With this law, the American people won and the special interests lost.  The American people won and the special interests lost. 

For a while, people doubted whether any of that was going to happen. But we are in a season of substance.  This administration began amid a dark time in America — as Jim said, “a once-in-a-century pandemic” — devastating joblessness, clear and present threats to democracy and the rule of law, doubts about America’s future itself.  

And yet, we’ve not wavered.  We’ve not flinched.  And we’ve not given in.  Instead, we’re delivering results for the American people.  We didn’t tear down; we built up.  We didn’t look back; we looked forward.

And today — today offers further proof that the soul of America is vibrant, the future of America is bright, and the promise of America is real and just beginning.  (Applause.) 

Look, the bill I’m about to sign is not just about today, it’s about tomorrow.  It’s about delivering progress and prosperity to American families.

It’s about showing the American and the American people that democracy still works in America — notwithstanding all the — all the talk of its demise — not just for the privileged few, but for all of us.

You know, I swore an oath of office to you and to God to faithfully execute the duties of this sacred office.

To me, the critical duty — the critical duty of the presidency is to defend what is best about America.  And that’s not hyperbole.  Defend what’s best about America.  To pursue justice, to ensure fairness, and to deliver results that create possibilities — possibilities that all of us — all of us can live a life of consequence and prosperity in a nation that’s safe and secure.  That’s the job.  

Fulfilling that pledge to you guides me every single hour of every single day in this job.  

You know, presidents should be judged not only by our words, but by our deeds; not by our rhetoric, but by our actions; not by our promise, but by reality.  

And today is part of an extraordinary story that’s being written by this administration and our brave allies in the Congress.

This law — this law that I’m about to sign finally delivers on a promise that Washington has made for decades to the American people.  

I got here as a 29-year-old kid.  We were promising to make sure that Medicare would have the power to negotiate lower drug prices back then — back then — prescription drug prices.  

But guess what?  We’re giving Medicare the power to negotiate those prices now, on some drugs.

This means seniors are going to pay less for their prescription drugs while we’re changing circumstances for people on Medicare by putting a cap — a cap of a maximum of $2,000 a year on their prescription drug costs, no matter what the reason for those prescriptions are.

That means if you’re on Medicare, you’ll never have to pay more than $2,000 a year no matter how many prescriptions you have, whether it’s for cancer or any other disease.  No more than $2,000 a year.

And you all know it because a lot of you come from families that need this.  This is a Godsend.  This is a Godsend to many families and so, so long overdue. 


The Inflation Reduction Act locks in place lower healthcare premiums for millions of families who get their coverage under the Affordable Care Act.  

Last year, a family of four saved on average $2,400 through the American Rescue Plan that I signed into law that Congress voted in place.

In the years ahead, thanks to the Inflation Reduction Act, 13 million people are going to continue — continue to save an average of $800 a year on health insurance.

The Inflation Reduction Act invests $369 billion to take the most aggressive action ever — ever, ever, ever — in confronting the climate crisis and strengthening our economic — our energy security.

It’s going to offer working families thousands of dollars in savings by providing them rebates to buy new and efficient appliances, weatherize their homes, get tax credit for purchasing heat pumps and rooftop solar, electric stoves, ovens, dryers.
 
It gives consumers a tax credit to buy electric vehicles or fuel cell vehicles, new or used.  And it gives them a credit — a tax credit of up to $7,500 if those vehicles were made in America. 

American auto companies, along with American labor, are committing their treasure and their talent — billions of dollars in investment — to make electric vehicles and battery and electric charging stations all across America, made in America.  All of it made in America.

This new law also provides tax credits that’s going to create tens of thousands of good-paying jobs and clean energy manufacturing jobs, solar factories in the Midwest and the South, wind farms across the plains and off our shores, clean hydrogen projects and more — all across America, every part of America.

This bill is the biggest step forward on climate ever — ever — and it’s going to allow us to boldly take additional steps toward meeting all of my climate goals — the ones we set out when we ran.

It includes ensuring that we create clean energy opportunities in frontline and fence-line communities that have been smothered — smothered by the legacy of pollution, and fight environmental injustice that’s been going on for so long.

And here’s another win for the American people: In addition to cutting the deficit by $350 billion last year, in my first year in office, and cutting it $1.7 trillion this year, this fiscal year, we’re going to cut the deficit — I point out — by another $300 billion with the Inflation Reduction Act over the next decade.

We’re cutting deficit to fight inflation by having the wealthy and big corporations finally begin to pay part of their fair share.

Big corporations will now pay a minimum 15 percent tax instead of 55 of them got away with paying zero dollars in federal income tax on $40 billion in profit. 

And I’m keeping my campaign commitment: No one — let me emphasize — no one earning less than $400,000 a year will pay a penny more in federal taxes.  (Applause.) 

Folks, the Inflation Reduction Act does so many things that, for so many years, so many of us have fought to make happen.

And let’s be clear: In this historic moment, Democrats sided with the American people, and every single Republican in the Congress sided with the special interests in this vote — every single one.

In fact, the big drug companies spent nearly $100 million to defeat this bill.  A hundred million dollars.

And remember: Every single Republican in Congress voted against this bill. 

Every single Republican in Congress voted against lowering prescription drug prices, against lowering healthcare costs, against a fairer tax system.

Every single Republican — every single one — voted against tackling the climate crisis, against lowering our energy costs, against creating good-paying jobs.

My fellow Americans, that’s the choice we face: We can protect the already-powerful or show the courage to build a future where everybody has an even shot.

That’s the America I believe in.  (Applause.)  That’s what I believe in. 

And today — and today, we’ve come a step closer to making that America real.

Today, too often we confuse noise with substance.  Too often we confuse setbacks with defeat.  Too often we hand the biggest microphone to the critics and the cynics who delight in declaring failure while those committed to making real progress do the hard work of governing.

Making progress in this country as big and complicated as ours clearly is not easy.  It’s never been easy.

But with unwavering conviction, commitment, and patience, progress does come…

And when it does, like today, people’s lives are made better and the future becomes brighter, and a nation can be transformed.

That’s what’s happening now.  From the American Rescue Plan that helped create nearly 10 million new jobs, to a once-in-a-generation infrastructure law that will rebuild America’s roads, bridges, ports; deliver clean water, high-speed Internet to every American; to the first meaningful gun safety law in 30 years — and if I have anything to do with it, we’re still going to have an assault weapons ban, but that’s another story.  And to get significant veterans’ healthcare law in decades, for the first time; to a groundbreaking CHIPS and Science Law that’s going to ensure that technologies and jobs of the future are made here in America — in America.

(Applause.) 

And all this progress is part of our vision and plan and determined effort to get the job done for the American people, so they can look their child in the eye and say, “Honey, it’s going to be okay. Everything is going to be okay.”

Everything is going to make sure that democracy delivers for your generation.  Because I think that’s at stake.

And, now, I know there are those here today who hold a dark and despairing view of this country.  I’m not one of them.

I believe in the promise of America.  I believe in the future of this country.  I believe in the very soul of this nation.  And most of all, I believe in you, the American people.

I believe to my core there isn’t a single thing this country cannot do when we put our mind to it.  We just have to remember who we are.  We are the United States of America.

There is nothing nothing beyond our capacity. That’s why so many foreign companies decided to invest their — make chips in America. Billions of dollars.  We’re the best.  We have to believe in ourselves again.

And now I’m going to take action that I’ve been looking forward to doing for 18 months.  (Laughter and applause.)  I’m going to sign the Inflation Reduction Law.  (Applause.)

Okay.  Here you go. (The bill is signed.)

LEADER SCHUMER:  It’s now law.

(Applause.)

Biden Administration, Economy, Education, Joe Biden, News & Photo Features, President Joe Biden

Biden Reacts to June Inflation Report: Inflation Still Unacceptably High But Data Out of Date, Does Not Reflect Drop in Gas Prices

High energy prices account for half of the increase in June’s CPI report, but prices have been falling for almost a month © Karen Rubin/news-photos-features.com

President Joe Biden reacted to the June inflation report saying that while inflation is still unacceptably high, the report is out-of-date, failing to take into account that gas prices – which accounts for a significant amount of the inflation rate – have gone down for nearly 30 days, reducing the price at the pump by 40 cents since mid-June. Still, he said, “inflation is our most pressing economic challenge,” just as it is around the world. Here is his statement the June CPI Inflation report as provided by the White House:

While today’s headline inflation reading is unacceptably high, it is also out-of-date. Energy alone comprised nearly half of the monthly increase in inflation. Today’s data does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June. Those savings are providing important breathing room for American families. And, other commodities like wheat have fallen sharply since this report.
 
Importantly, today’s report shows that what economists call annual “core inflation” came down for the third month in a row, and is the first month since last year where the annual “core” inflation rate is below six percent.  
 Inflation is our most pressing economic challenge. It is hitting almost every country in the world. It is little comfort to Americans to know that inflation is also high in Europe, and higher in many countries there than in America.  But it is a reminder that all major economies are battling this COVID-related challenge, made worse by Putin’s unconscionable aggression.
 
Tackling inflation is my top priority – we need to make more progress, more quickly, in getting price increases under control. Here is what I will do:
 
First, I will continue to do everything I can to bring down the price of gas. I will continue my historic release of oil from our strategic petroleum reserve. I will continue working with our European allies to put a price cap on Russian oil – sapping Putin of oil revenue. And, I will continue to work with the U.S. oil and gas industry to increase production responsibly — already, the U.S. is producing 12.1 million barrels of oil per day and is on track to break records.
 
But I will also continue to insist – as I have with urgency recently – that reductions in the price of oil must produce lower gas prices for consumers at the pump.  The price of oil is down about 20% since mid-June, but the price of gas has so far only fallen half as much. Oil and gas companies must not use this moment as an excuse for profiting by not passing along savings at the pump.  
 
Second, I will urge Congress to act, this month, on legislation to reduce the cost of everyday expenses that are hitting American families, from prescription drugs to utility bills to health insurance premiums and to make more in America.
 
Third, I will continue to oppose any efforts by Republicans – as they have proposed during this campaign year — to make things worse by raising taxes on working people, or putting Social Security and Medicare on the chopping block every five years.
 
Finally, I will continue to give the Federal Reserve the room it needs to help it combat inflation.

Biden Administration, Climate Action, Climate Change, Economic Development, Economy, Energy, Joe Biden, Manufacturing, News & Photo Features

FACT SHEET: Biden Takes Bold Executive Action to Spur Domestic Clean Energy Manufacturing

Historic Actions Include Authorizing Defense Production Act to Lower Energy Costs, Strengthen Power Grid, and Create Good-Paying Jobs

Solar array on a farm in upstate New York. Biden is accelerating and incentivizing clean energy manufacture in the US. The nation is on track to triple domestic solar manufacturing capacity by 2024 –  to reach 22.5 gigawatts by the end of Biden’s first term, enough to enable more than 3.3 million homes to switch to clean solar energy each year. © Karen Rubin/news-photos-features.com

I find it infuriating that the “news” is completely taken over by the latest travesties by Trump, Putin and Supreme Court, fueling anger and cynicism among Democrats and Progressives who may well take their anger out at the polls and simply not vote – that, I would remind you, is how we got Trump and this Christo Fascist Supreme Court. Biden Administration not doing anything on climate change? Inflation? Health care? Nonsense. This administration has been incredibly productive – finding real solutions, not bandaids, rhetoric and hype, that have at their foundation a sense of equity, sustainability and social justice. Want to solve inflation? Not by the Keystone Pipeline or overturning coal plant rules, but investing in EV infrastructure, as Biden wants to do. But you wouldn’t know it from the media, social or otherwise. It is our practice, then, to publish first-hand accounts from the White House, federal agencies and officials. –Karen Rubin/news-photos-features.com

Today’s clean energy technologies are a critical part of the arsenal we must harness to lower energy costs for families, reduce risks to our power grid, and tackle the urgent crisis of a changing climate. From day one, President Biden has mobilized investment in these critical technologies. Thanks to his clean energy and climate agenda, last year marked the largest deployment of solar, wind, and batteries in United States history, and our nation is now a magnet for investment in clean energy manufacturing.
 
Since President Biden took office, the private sector has committed over $100 billion in new private capital to make electric vehicles and batteries in the United States. We have made historic investments in clean hydrogen, nuclear, and other cutting-edge technologies. And companies are investing billions more to grow a new domestic offshore wind industry.
 
We are also now on track to triple domestic solar manufacturing capacity by 2024. The expansions to domestic solar manufacturing capacity announced since President Biden took office will grow the current base capacity of 7.5 gigawatts by an additional 15 gigawatts. This would total 22.5 gigawatts by the end of his first term – enough to enable more than 3.3 million homes to switch to clean solar energy each year.
 
While President Biden continues pushing Congress to pass clean energy investments and tax cuts, he is taking bold action to rapidly build on this progress and create a bridge to this American-made clean energy future. Today, President Biden is taking action to:  

  • Authorize use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies, including solar panel parts;
  • Put the full power of federal procurement to work spurring additional domestic solar manufacturing capacity by directing the development of master supply agreements, including “super preference” status; and
  • Create a 24-month bridge as domestic manufacturing rapidly scales up to ensure the reliable supply of components that U.S. solar deployers need to construct clean energy projects and an electric grid for the 21st century, while reinforcing the integrity of our trade laws and processes. 

 Together, these actions will spur domestic manufacturing, construction projects, and good-paying jobs – all while cutting energy costs for families, strengthening our grid, and tackling climate change and environmental injustice. With a stronger clean energy arsenal, the United States can be an even stronger partner to our allies, especially in the face of Putin’s war in Ukraine.
 
The stakes could not be higher. That is why President Biden also continues to urge Congress to quickly pass tax cuts and additional investments that advance U.S. clean energy manufacturing and deployment. Failing to take these actions would deny consumers access to cost-cutting clean energy options, add risks to our power grid, and stall domestic clean energy construction projects that are critical to tackling the climate crisis. At the same time, President Biden will keep using his executive authority to take bold action to build an American-made clean energy future.

INVOKING THE DEFENSE PRODUCTION ACT FOR CLEAN ENERGY

Today, President Biden is authorizing the use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies – unlocking new powers to meet this moment. Specifically, the President is authorizing the Department of Energy to use the DPA to rapidly expand American manufacturing of five critical clean energy technologies:

  • Solar panel parts like photovoltaic modules and module components;
  • Building insulation;
  • Heat pumps, which heat and cool buildings super efficiently;
  • Equipment for making and using clean electricity-generated fuels, including electrolyzers, fuel cells, and related platinum group metals; and
  • Critical power grid infrastructure like transformers.

In deploying the DPA, the Biden-Harris Administration will strongly encourage the use of strong labor standards, including project labor agreements and community benefits agreements that offer wages at or above the prevailing rate and include local hire provisions. The Administration also will strongly encourage projects with environmental justice outcomes that empower the clean energy transition in low-income communities historically overburdened by legacy pollution.
 
Following this announcement, the White House and the Department of Energy will convene relevant industry, labor, environmental justice, and other key stakeholders as we maximize the impact of the DPA tools made available by President Biden’s actions and strengthen domestic clean energy manufacturing.
 
BOOSTING MADE-IN-AMERICA CLEAN ENERGY WITH FEDERAL PROCUREMENT
 
President Biden is also putting the full power of federal procurement to work spurring additional domestic solar manufacturing capacity. Today, the President directed the development of two innovative tools to accelerate Made-in-America clean energy:

  • Master Supply Agreements for domestically manufactured solar systems to increase the speed and efficiency with which domestic clean electricity providers can sell their products to the U.S. Government; and
  • So-called “Super Preferences” to apply domestic content standards for federal procurement of solar systems, including domestically manufactured solar photovoltaic components, consistent with the Buy American Act.

These federal procurement measures can stimulate demand for up to a gigawatt of domestically produced solar modules in the near term, and up to 10 gigawatts over the next decade from U.S. government demand alone. To further increase the impact of these actions, the Administration will also partner with state and local governments and municipal utilities in these innovative arrangements – increasing the potential market impact over the next decade to as much as over 100 gigawatts. These procurement actions will provide a significant demand anchor for a revitalized domestic solar manufacturing industry.
 
SUPPORT FOR U.S. GRID-STRENGTHENING, CLEAN ENERGY CONSTRUCTION PROJECTS
 
Because of private investor confidence in President Biden’s leadership and our national commitment to a clean energy future, the United States is now on track to triple its solar manufacturing capacity by 2024. The expansions to domestic solar manufacturing capacity announced since the President took office will grow the current 7.5 gigawatts of capacity by an additional 15 gigawatts of capacity, for a total of 22.5 gigawatts by the end of his first term – enough to enable more than 3.3 million homes to switch to clean solar energy every year. To rapidly build on this progress and create a bridge to this American-made clean energy future, we need to boost short-term solar panel supply to support construction projects in the United States right now. This is because grid operators around the country are relying on planned solar projects to come online to ensure there is sufficient power to meet demand, and to ensure we can continue to deploy solar at the rates needed to keep us on track to meet the President’s climate goals. 
 
Today, President Biden is using his powers to create a 24-month bridge for certain solar imports while reinforcing the integrity of our trade laws and processes. Specifically, the President is:

  • Temporarily facilitating U.S. solar deployers’ ability to source solar modules and cells from Cambodia, Malaysia, Thailand, and Vietnam by providing that those components can be imported free of certain duties for 24 months in order to ensure the U.S. has access to a sufficient supply of solar modules to meet electricity generation needs while domestic manufacturing scales up; and
  • Reinforcing his commitment to safeguarding the integrity and independence of all ongoing trade investigations by career officials at the Department of Commerce and recognizing the vital role these processes play in strengthening our economy.

ADDITIONAL STEPS TO CUT COSTS, SUPPORT GOOD-PAYING JOBS, AND ADVANCE ENVIRONMENTAL JUSTICE
 
Today’s actions build on this Administration’s existing initiatives to grow domestic clean energy innovation and manufacturing and to lower energy costs for Americans, including: 

  • Permitting More Clean Energy on Public Lands. As part of the Biden-Harris Permitting Action Plan, a new five-agency collaboration is expediting reviews of clean energy projects on public lands through the Department of the Interior, helping us race ahead toward permitting at least 25 gigawatts by 2025 – enough to power around five million homes. These actions have already increased clean energy permitting activities by 35 percent, including major solar project approvals and leases. We have also launched five new Renewable Energy Coordination Offices and reduced rents and fees by more than 50 percent for solar and wind projects on public lands.
     
  • Boosting Community-Based Clean Energy in Cities and Rural Areas. The Biden-Harris Administration is helping 17 local communities remove red tape with the SolarAPP+ online tool to enable same-day approvals for residential solar installation permits, and an additional 400 interested communities are in the pipeline. The National Climate Task Force launched new initiatives on increasing deployment of Distributed Energy Resources, including rooftop solar, with a focus on bringing the benefits of these projects to underserved communities. The United States Department of Agriculture provided the largest-ever investment in rural renewable energy last year. In addition, the Department of Energy and the Department of Health and Human Services are partnering to develop and pilot a digital platform that will connect customers who are eligible for the Low Income Home Energy Assistance Program with community solar subscriptions, to further reduce customer energy costs. Likewise, the U.S. Department of Housing and Urban Development is working with municipalities to enable residents of affordable housing to directly benefit from low-cost community solar power without seeing a rent increase or adjustment to their utility allowance.
     
  • Supporting a Diverse Solar Workforce with Good-Paying Jobs, including pathways to stable careers with the free and fair choice to join a union. Solar industry jobs consistently rank among the top fastest-growing in the nation, and many require only a high school education or GED. The Economic Development Administration recently awarded funding to support solar employment training in tribal and coal-impacted communities. In addition, the Department of Energy has issued a Request for Information and hosted six workshops to determine common goals and needs from stakeholders, including industry, unions, and training organizations. DOE will continue to explore these issues, including by providing funding, new collaborations with industry, other federal agencies, and state-based job boards to develop equitable worker-centric training and education programs, work-based learning opportunities, and support services such as career counseling, mentorship, and job readiness programs.
     
  • Developing Clean Energy Domestic Manufacturing for Export and Building Capacity in Allied Nations. The Export-Import Bank of the United States (EXIM) Make More in America Initiative, approved by the EXIM board in April, will prioritize investments to expand clean energy manufacturing. The U.S. International Development Finance Corporation supports building resilient clean energy manufacturing supply chains in allied nations around the world, reducing global dependence on China.
     
  • Investing in Clean Energy for Resilience in Puerto Rico: The Biden-Harris Administration joined forces with the Commonwealth of Puerto Rico to advance dozens of solar energy projects that will enable Puerto Rico to meet its target of 100% renewable electricity, while improving power sector resilience and increasing access to more affordable energy and cleaner air. 
Biden Administration, Economic Policies, Economy, Federal Budget, Joe Biden, President Joe Biden

Biden Economic Policies Produce $1.3 Trillion Decrease in Deficit, Largest 1-Year Decline in History

The White House is justifiably touting a $1.3 trillion decrease in the budget deficit – the largest one-year decline in U.S. history – to demonstrate the success of its fiscal policies, and particularly, its success in getting control of the coronavirus pandemic and justifying its FY2023 budget proposal. © Karen Rubin/news-photos-features.com

The Biden Administration is justifiably touting a $1.3 trillion decrease in the budget deficit – the largest one-year decline in U.S. history – to demonstrate the success of its fiscal policies, and particularly, its success in getting control of the coronavirus pandemic and justifying its FY2023 budget proposal. Here’s a statement from the White House:

When the President took office, the pandemic was raging in communities across the country and our economy was struggling to recover from the most severe downturn since the Great Depression. The economy shrunk, and the unemployment rate stood at 6.4 percent. And, the deficit had risen to $3.1 trillion in 2020—yet with trillions in resources, the Trump Administration didn’t secure vaccines for all Americans, most schools were closed, and testing and medical equipment shortages continued.

Even before the pandemic, the Trump tax cuts had added $2 trillion to deficits over a decade. The deficit increased every year of the previous administration.

Unlike his predecessor, President Biden prioritized fiscal responsibility. In the face of the extraordinary challenges he inherited, the President made clear that bold action was needed to jumpstart the economic recovery. He knew that robust investment to change the course of the pandemic and support workers, families, and small businesses was not only the right strategy to build a stronger economy, but also to decrease the deficit. A strong economic recovery would result in less emergency spending and drive future deficits down. In March 2021, he signed into law the historic American Rescue Plan.

The President’s Budget shows that this strategy paid off. The strongest economic growth in four decades, powered by the American Rescue Plan, has also contributed to a historic decline in the deficit—by fueling strong revenue growth and allowing the Administration to responsibly phase down emergency pandemic-related spending. The President’s Budget projects that the deficit in 2022 will be more than $1.3 trillion lower than last year’s—the largest ever one-year decline in our country’s history. It will be less than half of the 2020 deficit the President inherited.

The President is now working to build on that progress and further reduce the deficit by reforming the tax system so that corporations and the wealthiest Americans pay their fair share. As the Budget shows, with these reforms, we can cut costs for families, continue growing the economy from the bottom up and middle out, and put America on a sound fiscal course for the future—shrinking the deficit the President inherited by two-thirds as a share of the economy.

President Biden’s Strategy to Combat the Pandemic and Jumpstart the Economy is Driving Down Deficits

Thanks to the American Rescue Plan and the President’s strategy to control the pandemic, in 2021 our economy grew at 5.7 percent, the fastest rate in nearly 40 years. We created more than 6.5 million jobs, the most our country has ever recorded in a single year. The unemployment rate has dropped to 3.8 percent, lower than the Congressional Budget Office had projected in its pre-American Rescue Plan baseline at any point over the next decade. And between the start and the end of 2021, we went from about 41,000 to more than 200 million Americans vaccinated, and from most schools closed to 99 percent of schools are open for in-person learning.

The Administration’s economic success and success in controlling the pandemic is lowering the deficit in two ways.

First, because of the historic pace of our economic and labor market recovery, the economy no longer needs the kind of emergency support it received last year. With businesses open and people back at work, the Federal Government will spend about $1 trillion less on pandemic and economic support in 2022 than in 2021. That includes hundreds of billions of dollars less support to businesses, which are now making investments and creating jobs without the need for help. Likewise, after historic drops in both the overall unemployment rate and the long-term unemployment rate—the share of people out of work for more than six months—we no longer need emergency unemployment assistance, and ongoing Unemployment Insurance claims are at their lowest level since 1970.  

Second, a stronger economy means higher incomes for households and higher earnings for businesses. Because of this economic progress, the government is projected to collect more than $300 billion in additional revenues compared to last year, a nearly 10 percent increase.

The President’s Budget Continues to Lower Deficits

Even before the pandemic, the Trump Administration added $2 trillion to deficits over 10 years through tax cuts that largely helped wealthy people and large corporations. President Biden believes in a different approach: growing the economy from the middle out, not the top down, and paying for all new investments by ensuring that the wealthiest Americans and large corporations pay their fair share.

As he made clear in his State of the Union address, the President is committed to working with Congress to enact legislation that lowers costs for American families, expands the productive capacity of the American economy, and further reduces the deficit: by reducing prescription drug costs and fixing the tax code to ensure corporations and wealthy people pay the taxes they already owe and close loopholes they exploit.

The President’s FY 2023 Budget also proposes additional smart, targeted investments designed to spur durable economic growth, create jobs, reduce cost pressures, and foster shared prosperity—while more than fully offsetting their cost. The Budget reduces deficits by more than $1 trillion over the next 10 years.

Under the Budget policies, deficits as a share of the economy would fall to less than one-third of the 2020 level the President inherited. Overall, the Budget details an economically and fiscally responsible path forward—addressing the long-term fiscal challenges facing our country while making investments that will produce stronger economic growth and broadly shared prosperity for generations to come.