Biden said in a speech before the club: Washington Economist, “The reduction in prices Interest It is not a declaration of victory, but a declaration of progress, a sign that we have entered a new phase of our economy and recovery.”
The Democratic president insisted Thursday that there was more work to be done, but he used his speech to burnish his economic legacy even as he criticized Trump, his Republican predecessor who is running for another term.
On Trump, Biden said, “The trickle-down theory has failed… He’s promising trickle-down economics again. It’s going to fail again.”
Biden added that Trump wants to extend tax cuts that disproportionately benefit the wealthy, at an estimated cost of $5 trillion, and implement Customs tariffs Which could raise prices by about $4,000 per household, which Biden has described as a “new sales tax.”
The campaign spokesman did not respond. Trump Until now to request comment.
Trump has repeatedly criticized Biden and Vice President Kamala Harris, the Democratic presidential nominee this year, over the high cost of living.
