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US Economy Starting To See New Signs Of Hope: Biden

joebiden march26 lt

President Joe Biden claimed that since the Congress passed the American Rescue Plan, the United States is starting to see "new signs of hope" in its economy".

A majority of economic forecasters are now projecting a 6 percent growth in GDP, he said during his first formal press conference since taking office.

Biden cited the fall in the number of people filing for weekly unemployment insurance by nearly 100,000. That's the first time in a year the number has fallen below the pre-pandemic high.

"So there are still too many Americans out of work, too many families hurting, and we still have a lot of work to do. But I can say to you, the American people: Help is here, and hope is on the way," he told reporters.

Biden said his administration will make sure to invest closer to 2 percent of US GDP in research and investment in science. "We're going to invest in medical research — cancer, Alzheimer's, diabetes, the things — industries of the future — artificial intelligence, quantum computing, biotech."

Blaming his predecessor for the growing humanitarian crisis on the southern border, Biden said that former President Donald Trump dismantled all the elements that existed to deal with the migrant crisis. "And so what we're doing now is attempting to rebuild the system that can accommodate."

Biden said the overwhelming majority of people coming to the border and crossing are being sent back. "We're trying to work out now, with Mexico, their willingness to take more of those families back."

While admitting that he had not been able to unite the Congress, Biden claimed that he had been uniting the country, "based on the polling data."

Mentioning China, Biden said, "We are going to hold China accountable to follow the rules whether it relates to the South China Sea or the North China Sea, or their agreement made on Taiwan, or a whole range of other things."

Biden said he sees stiff competition with China. "China has an overall goal to become the leading country in the world, the wealthiest country in the world, and the most powerful country in the world. That's not going to happen on my watch because the United States are going to continue to grow and expand."

The president made it clear that that North Korea's recent testing of two ballistic missiles was in violation of U.N. Resolution 1718. "We're consulting with our allies and partners. If they choose to escalate, we will respond accordingly". At the same time, Biden said he is also prepared for some form of diplomacy.

Biden said the upcoming May 1 deadline to withdraw U.S. troops from Afghanistan will be "hard to meet." The president cited "tactical reasons" for the delay, but emphasized it was not his intention "to stay there a long time."

When asked if he has decided to run for re-election in 2024, the Democratic President replied in the affirmative. "The answer is 'yes.' My plan is to run for re-election. That's my expectation."

He added that Vice President Kamala Harris will be his running mate. "I would fully expect that to be the case. She's doing a great job. She's a great partner."

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