Biden Slams Wall
Street, Defends Economy
Tuesday, 14 June 2022 12:52 PM
https://www.newsmax.com/streettalk/biden-afl-cio-union-economy-inflation/2022/06/14/id/1074374/
U.S. President
Joe Biden blasted Wall Street and Republicans, while making a
full-throated defense of his economic plans to thousands of union members in
Philadelphia on Tuesday, as he seeks to improve dismal approval ratings amid
high inflation and fears of recession.
Often raising his voice to a yell, Biden vowed to
continue to pursue billionaires and corporations that his administration says
underpay billions of dollars in taxes each year, and to pursue economic
policies aimed at shrinking U.S. inequality.
"Our work isn't done," Biden said.
"America still has a choice to make - a choice between a government by the
few for the few or a government for all of us, democracy for all of us, an
economy where all of us have a fair shot and a chance to earn our place in the
economy."
Worries that a hawkish Federal Reserve will hurt U.S.
growth as it attempts to tame inflation helped drive the benchmark S&P 500
into a "bear market" on Monday, which could beckon a recession, some
analysts say.
Corporate executives including JP Morgan chief executive
Jamie Dimon have warned in recent weeks that they see an economic storm brewing
in the United States, as high inflation bites and the Fed balances curbing
spending while avoiding recession.
Biden appeared to take aim at those concerns Tuesday.
"Wall Street didn't build this country, the middle
class built this country," Biden said, adding that if investment bankers
went on strike, not much would happen to the U.S. economy.
Republicans blame Democrat's $1.9 trillion American
Rescue Plan of economic stimulus measures for fueling inflation that has
reached 40-year highs. Biden and Democrats point to record-low unemployment,
small business startups and wage growth, particularly for low-income workers
disproportionately hurt by pandemic shutdowns, as signs the U.S. economy is
strong.
"I don’t want to hear any more of these lies about
reckless spending. We are changing people's lives," he said.
Biden and Democrats point to low unemployment, high small
business startups, deficit reduction and wage growth, particularly for
low-income workers disproportionately hurt by pandemic shutdowns, as signs the
U.S. economy is strong.
The Congressional Budget Office last month forecast that
the U.S. budget deficit would shrink dramatically to $1.036 trillion for fiscal
year 2022 from $2.775 trillion last year given a recovery-fueled surge in
revenues and lower outlays.
"I don’t want to hear any more of these lies about
reckless spending. We are changing people's lives," Biden said.
He spoke in front of about 2,000 union members, leaders
and state and local officials at the AFL-CIO Constitutional Convention, which is held
every four years, and where labor leaders chart strategy. The labor federation
comprises 57 affiliated unions and 12.5 million workers.
He recalled food lines and job losses under former
President Donald Trump and sparked by the COVID-19 pandemic, and noted record
low unemployment today.
"Talk about a contrast. Ordinary people waiting in
line for an hour for a box of food," while presidential policies created
more billionaires than ever in American history, he said.
Biden, hailed as a pro-union president by labor leaders,
has continued to throw his support behind unions and collective bargaining, and
the White House is counting on unions to help Democrats win in the November
midterms.
Biden called on union members to throw their support
behind John Fetterman the Pennsylvania U.S. Senate candidate, and Stacey
Abrams, who is running for governor in Georgia.
Support from unions was key to Biden's win in key swing
states in the 2020 election. Biden won 57% of union households nationwide
compared with 40% for Trump, according to Edison Research.
He has ousted government officials whom unions deemed
hostile to labor, reversed Trump-era rules that weakened worker protections and
established a White House labor task force to reverse a decades-long decline in
union membership.
More recently, Biden met with a new generation of union
organizers at the White House, warned major businesses that their workforces
would seek to unionize with his support and has supported a push on Capitol
Hill that allows for congressional staffers to unionize.
However only 10.3% of the U.S. workforce was represented by a union in 2021, down from more than 30% in the 1950s, the White House said in February. The numbers are even lower for private-sector employees, where union membership has fallen to 6.1% in 2021 from 16.8% in 1983.
Connecting the Dots:
AFL-CIO is
a national partner with America Votes.
Planned Parenthood Action Fund is
a national partner with America Votes.
Kirk Adams was an organizing director for
the AFL-CIO and is married
to Cecile Richards.
Cecile Richards was
the founder & president of America
Votes, a grant overseer for the Turner
Foundation, is the president of the Planned
Parenthood Action Fund, married to Kirk
Adams and the president of the Planned
Parenthood Federation of America.
Open Society Foundations was a
funder for the Planned Parenthood Federation of America and the Carnegie Endowment for International Peace (think tank).
George Soros is the founder & chairman
for the Open Society Foundations.
Carnegie Endowment for International Peace (think
tank) was a funder for the Nuclear
Threat Initiative (think tank).
Ted
Turner is a co-chairman for the Nuclear
Threat Initiative (think tank), the founder of CNN and the chairman for the Turner Foundation.
Foundation to Promote Open Society was
a funder for the Carnegie Endowment for
International Peace (think tank) and the Aspen Institute (think tank).
George Soros was the chairman
for the Foundation to Promote Open Society.
Walter Isaacson
is the president & CEO for the Aspen
Institute (think tank) and was
the chairman & CEO for CNN.
David M.
Rubenstein was a benefactor at the Aspen
Institute (think tank) and is a regent at the Smithsonian Institution.
Joseph R. Biden Jr. is a regent at the Smithsonian Institution and the president for the Joseph Biden administration.
Resources: Past Research
Appeals court
unanimously dismisses school's attack on pro-lifer's speech (Connecting the
Dots: Planned Parenthood, Teacher's Unions, CNN, Soros & America Votes) (Past Research on the AFL-CIO)
SATURDAY, JUNE 11, 2022
https://thesteadydrip.blogspot.com/2022/06/appeals-court-unanimously-dismisses.html
Charleston: CNN’s Sick
Pattern of Using the Dead as Political Weapons Against the Right (Past Research on CNN)
SATURDAY, JUNE 20, 2015
https://thesteadydrip.blogspot.com/2015/06/charleston-cnns-sick-pattern-of-using.html
Smithsonian Admits to
Destruction of Thousands of Giant Human Skeletons in Early 1900′s (Past Research on the Smithsonian Institution & Joseph
R. Biden Jr)
WEDNESDAY, DECEMBER 10, 2014
https://thesteadydrip.blogspot.com/2014/12/smithsonian-admits-to-destruction-of.html
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