The President has done all of this while delivering on his commitment to fiscal responsibility.
And the President’s plan is rebuilding America’s infrastructure, making the economy more competitive, investing in American innovation and industries that will define the future, and fueling a manufacturing boom that is strengthening parts of the country that have long been left behind while creating good jobs for workers, including those without college degrees. The President has taken action to lower costs and give families more breathing room, including cutting prescription drug costs, health insurance premiums, and energy bills, while driving the uninsured rate to historic lows. The past two years were the best two years for new small business applications on record. The Black and Hispanic unemployment rates are near record lows. The unemployment rate has fallen to 3.4 percent, the lowest in 54 years. Under the President’s leadership, the economy has added more than 12 million jobs-more jobs in two years than any president has created in a four-year term-including 800,000 manufacturing jobs. Over the past two years, in the face of significant challenges, that economic strategy has produced historic progress for the American people. President Biden has long believed that we need to grow the economy from the bottom up and middle out, not the top down.
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