Biden Touts Economic Recovery, But Major Concerns Linger
Voice of America
WASHINGTON - President Joe Biden on Monday took a swipe at political opponents, including former President Donald Trump, by touting the reinvigorated U.S. economy, which has been recovering rapidly during his first six months in office.
But some economists worry that the administration's aggressive efforts to spur economic growth could lead to a punishing recession next year. Speaking at the White House on Monday morning, Biden reminded listeners of the predictions of economic disaster that his detractors had insisted would follow his election as president. Without naming him, Biden referred to his predecessor by quoting his prediction that if Biden became president, the country would experience "a depression the likes of which we have never seen."
FILE - This photo provided by Abdul Nasser Saleh shows the deck of the cargo ship Al-Maha, abandoned by its owners, at the seaport of Jeddah, Saudi Arabia, in January 2024. FILE - This combination of photos provided by Abdul Nasser Saleh shows the galley and dining area of the cargo ship Al-Maha, abandoned by its owners, at the seaport of Jeddah, Saudi Arabia, in January 2024.
FILE - Shoppers pass displays of goods in a Costco warehouse, Feb. 25, 2024, in Sheridan, Colo. The Trump administration will implement 25% tariffs on Mexican and Canadian goods and a 10% tariff on all Chinese imports on Feb. 1, 2025. FILE - Employees work on a production line making lithium battery products at a factory in Yichang, China, May 28, 2019. The Trump administration will place a 10% tariff on all Chinese imports Feb. 1, 2025. (Reuters/Stringer) FILE - Workers sort avocados at a packing plant in Uruapan, Mexico, Nov. 27, 2024. The Trump administration will levy a 25% tariff on Mexican goods coming into the U.S. on Feb. 1, 2025. FILE - People buy groceries at a Walmart Superstore in Secaucus, N.J., July 11, 2024. FILE - Bottles of canola oil made by Canadian agribusiness firm Richardson International are seen on a store shelf in China, March 6, 2019. The Trump administration will be implementing 25% tariffs on Canadian goods coming into the U.S. on Feb. 1, 2025.