Chinanews, May 28, a comprehensive report, on the 27th local time, US President Biden visited Cleveland, an industrial city in Ohio, and delivered a speech on US economic issues.
Biden said, "Biden's economic plan is working." The United States must attach importance to economic strength to maintain competitiveness.
He also mentioned that the United States "must become the number one in the world."
Data map: US President Biden.
Emphasize that "the economic plan worked",
Biden criticizes Republican lawmakers
According to the British "Financial Times" report, Biden's trip was to defend the government's economic performance and to refute the criticism of the Republican Party.
Prior to this, the Republican Party stated that rising prices and labor shortages caused by financial support have caused the economy to overheat and hinder the recovery of the US economy.
In this regard, Biden said, “You cannot restart the global economy like turning on a light switch. Employment and economic reports will fluctuate.” He believes that the United States is on the right track.
Biden said that at present, the US economy is recovering from the epidemic. "Unemployment applications have decreased, employment has increased, and the number of people receiving medical insurance has increased." He mentioned that "Biden's economic plan is working" and benefited. He signed a $1.9 trillion economic rescue plan in March.
Biden also changed his mind, attacking Republican lawmakers who opposed his economic rescue plan.
He held up a list and said: "However, here I have a list of how they brag about the plan in their constituency... Some people just have no shame."
Citizens outside the Chelsea Market in New York, USA, May 25, local time.
"The goal must be first"
Economic policy or influence mid-term elections?
However, Biden believes that this plan is only the "first step", and the United States is still at an economic "turning point."
Biden mentioned, "Thirty years ago, the U.S. R&D expenditure as a percentage of GDP ranked first, some people say it is second, and now it ranks ninth... while China ranked eighth in total investment about 30 years ago, and is now second. "He said that countries such as China, Japan, France, and Italy have strengthened infrastructure and R&D expenditures. The United States must attach importance to economic strength. "We must become the world's number one."
On May 18, Biden made a similar statement when visiting the Ford plant in Dearborn, Michigan.
Biden said that China is "in the lead" in the competition in the field of electric vehicles.
He said, "In the past, we invested more in research and development than any country in the world... Now, we rank eighth and China ranks first. This situation cannot be allowed to continue."
According to the "New York Times" report on the 27th, the Biden administration plans to announce a $6 trillion White House annual budget on the 28th, which includes a comprehensive plan for large-scale government investment.
The Financial Times analyzed that whether Biden’s economic policy is considered a success or failure may be crucial to whether the Democratic Party can retain or expand the majority of seats in Congress in the 2022 midterm elections.