As President Joe Biden approaches the end of his term, he is set to deliver a significant address at the Brookings Institution later today, reflecting on his economic legacy and contrasting it with anticipated policies from the incoming Trump administration.
According to the White House, Biden will emphasize achievements such as the creation of 16 million jobs and a focus on middle-class economic growth, arguing that his policies–so-called “Bidenomics”–have prevented a more severe economic crisis. He is also expected to warn against potential tax cuts for the wealthy and a return to ‘trickle-down economics’ under Trump, which he believes could undermine these gains.
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Despite his administration’s claims of record job growth and investments, stubborn inflation and voter dissatisfaction contributed to the Democrats’ electoral losses in November.
Critics, including some economists, argue that Biden’s presidency has been marked by rising debt and declining incomes. Biden aims to reshape his legacy amidst these challenges in his final weeks in office.
Update: President Biden’s remarks can be seen below.
Tune in as I deliver remarks on my middle-out, bottom-up economic playbook at the Brookings Institution. https://t.co/YwnmrTNvPf
— President Biden (@POTUS) December 10, 2024
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