President Joe Biden will claim during his State of the Union address that his “plan to fight inflation will lower your costs and lower the deficit.”
Biden will say that the country has a “choice” in addressing rising prices, according to prepared remarks of the president’s speech reviewed by the Washington Examiner.
“One way to fight inflation is to drive down wages and make Americans poorer. I have a better plan to fight inflation,” his speech reads. “Economists call it ‘increasing the productive capacity of our economy.’ I call it building a better America.”
Biden will call for lowering everyday costs while boosting wages, surging domestic manufacturing of critical technologies, and addressing supply chain bottlenecks worsened brought to light by the coronavirus pandemic.
“Make more cars and semiconductors in America. More infrastructure and innovation in America. More goods moving faster and cheaper in America. More jobs where you can earn a good living in America,” the president will pose to the nation. “And instead of relying on foreign supply chains, let’s make it in America.”
White House officials said Biden’s speech will seek to strike a balance between touting the victories of his first year in office, which include historic GDP growth, labor market gains, and success in combating the coronavirus, while refocusing the country on the areas the president still wants to improve, such as inflation.
Polls show inflation is a top concern among voters and is a major concern for the Democrats in this year’s midterm elections.
Furthermore, Biden will discuss in detail his desire to combat rising autocracy, framed specifically through the lens of the war in Ukraine. He is also expected to stress that the administration crafted its Russia sanctions package in a manner that won’t contribute to rising energy prices in the United States.
Biden will deliver his State of the Union address at 9 p.m. EST. It will be broadcast across all major media platforms.
