April 22, 2024

What Will the President Say About the Economy This Week?

State of the Union Could Shed Light on Economic Policies

32 minutes ago

President Joe Biden’s State of the Union address on Thursday will give him an opportunity to lay out his economic priorities for the coming year.

The economy has been growing in recent months, as the U.S. has seen better-than-expected job gains, an unemployment rate of 3.7%, and an improving inflation rate. But despite these positive movements, consumers are glum about the economy.

A recent Pew Research Center poll shows Americans are paying particular attention to health care costs, social security and the budget deficit, with nearly three-quarters of respondents rating the strengthening economy as their top priority this election cycle. The job market and global trade are also on Americans’ radar.

Biden will likely address some of these concerns in his speech. Economists expect he will likely propose higher rates of taxation on wealthy individuals, a solution for the budget deficit that he has offered in the past. He is also expected to talk about creating accessible, affordable child care and the work he’s done to ease the debt burden of student borrowers.

Read more about what to expect from Biden later this week here.

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