Please ensure Javascript is enabled for purposes of website accessibility
Biden Vows to Strengthen Economy Despite Exploding Pandemic
gvw_ap_news
By Associated Press
Published 4 years ago on
November 16, 2020

Share

WILMINGTON, Del. — Acknowledging that the nation is in a “dark” place, President-elect Joe Biden on Monday said his administration would strengthen the country’s vulnerable economy despite the exploding pandemic as he pushed forward with the business of preparing to assume the presidency.

Biden, who will take office on Jan. 20, offered an optimistic assessment of the next four years during a meeting with several business and labor leaders ahead of an afternoon economic address from his makeshift headquarters in Delaware.

“To state the obvious, we seem to be turning a pretty dark corner now,” Biden told the group, their faces projected on video screens, as the meeting began.

“I don’t want to be falsely optimistic,” he continued. But “I think we can do this.”

Biden, a Democrat, has vowed to spend trillions of dollars to reinvigorate U.S. manufacturing, expand health care coverage and combat climate change, among other priorities. But his chief priority remains controlling the coronavirus pandemic, which is surging to record levels and forcing state and local leaders to implement new rounds of restrictions on local businesses.

The president-elect has so far tried to sidestep difficult questions about whether he might support a short-term national lockdown to arrest the surge of coronavirus cases. Since defeating Trump, Biden has devoted most of his public remarks to encouraging Americans to wear masks and embrace social distancing measures.

But members of his coronavirus advisory board have been more specific. One member, Dr. Michael Osterholm, recently suggested a four- to six-week national lockdown with financial aid for Americans whose livelihoods would be affected. He later walked back the remarks and was rebutted by two other members of the panel who said a widespread lockdown shouldn’t be under consideration.

Speaking Monday on “CBS This Morning,” Osterholm was not asked about a potential lockdown, but he said the nation needs “a standard set of principles.”

Recent Reports Suggest That at Least Two Vaccines Are Close to Winning Approval

“Right now, we don’t have a standardized set so you’re hearing all these governors and mayors are scrambling to try to find what is the right answer for us, and it would surely help all of them, and that’s what I’m hearing from them, that we have a standardized set of recommendations and protocols,” he said.

Recent reports suggest that at least two vaccines are close to winning approval, though mass distribution is likely several months away.

Trump seemed to acknowledge Biden’s victory for the first time on Sunday before walking back the remark and repeating false claims of widespread voter fraud. Despite mounting public pressure, the Trump administration has refused to initiate the traditional transition briefings for the incoming president’s team on national security and policy issues.

Trump is also blocking Biden’s team from being briefed on efforts to control the pandemic and distribute prospective vaccines.

“We now have the possibility … of a vaccine starting perhaps in December or January,” Biden’s chief of staff, Ron Klain, said Sunday. “There are people at HHS making plans to implement that vaccine. Our experts need to talk to those people as soon as possible so nothing drops in this change of power we’re going to have on Jan. 20.”

Before his Monday address, Biden and Vice President-elect Kamala Harris held virtual meetings with AFL-CIO President Richard Trumka, General Motors CEO Mary Barra and Microsoft President and CEO Satya Nadella, among others.

Much of the Rebound Was Fueled by $2 Trillion in Stimulus Money

Biden and Harris were speaking at a particularly tricky time for economic policy.

The U.S. economy has recovered from the pandemic-induced shutdowns this spring more quickly than most economists expected. The unemployment rate dropped a full percentage point last month to 6.9% and those who still have jobs — many of them working from home — have stepped up their spending on cars, electronics and home renovations.

But much of the rebound was fueled by $2 trillion in stimulus money that has largely run its course. And there are signs that the ongoing increases in confirmed virus cases are making Americans more cautious about traveling and shopping.

Consumers cut back on spending in early November, according to JPMorgan Chase, which tracks spending on 30 million of its debit and credit cards. Spending declines have been larger in some states with severe outbreaks, such as Iowa and North Dakota.

Most economists support another round of stimulus funding, including loans to small businesses, extended unemployment benefits and support for states and cities. Congressional Democrats have previously backed another $2 trillion in aid.

Sen. Mitch McConnell, the Republican majority leader, has pointed to the falling unemployment rate as evidence that much less stimulus is needed.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

The TikTok Effect: Viral Videos Create the Next Travel Hotspots

DON'T MISS

‘The Studio’ Knows the Real Reason Movies Are Bad

DON'T MISS

US-China Tariff Talks to Continue Sunday, an Official Tells The Associated Press

DON'T MISS

Has America Given Up on Children’s Learning?

DON'T MISS

Could Trump Team Suspend Habeas Corpus to Expedite Deportations?

DON'T MISS

Two Teens Charged in Shooting Death of Caleb Quick

DON'T MISS

India and Pakistan Agree to a Ceasefire After Their Worst Military Escalation in Decades

DON'T MISS

Ukraine and Allies Urge Putin to Commit to a 30-Day Ceasefire or Face New Sanctions

DON'T MISS

Soviet-Era Spacecraft Plunges to Earth After 53 Years Stuck in Orbit

DON'T MISS

Tax the Rich? Slash Spending? Republicans Wrestle With Economic Priorities in the Trump Era

UP NEXT

India and Pakistan Agree to a Ceasefire After Their Worst Military Escalation in Decades

UP NEXT

Ukraine and Allies Urge Putin to Commit to a 30-Day Ceasefire or Face New Sanctions

UP NEXT

Israeli Airstrikes Kill 23 in Gaza as Outcry Over Aid Blockade Grows

UP NEXT

Experts Call Kennedy’s Plan to find Autism’s Cause Unrealistic

UP NEXT

Summer Movie Guide 2025: Here’s What’s Coming to Theaters and Streaming From May to August

UP NEXT

First At-Home Test Kit for Cervical Cancer Approved by the FDA, Company Says

UP NEXT

Leo XIV’s Service to Poor Propelled Him to Papacy, Cardinals Say

UP NEXT

Nitrous Oxide Recreational Use Risks: Brain Damage, Death, and Easy Access

UP NEXT

Former Supreme Court Justice David Souter, a Republican Who Became a Liberal Darling, Dies at 85

UP NEXT

Pope Leo XIV Celebrates First Mass as Pope and Calls His Election Both a Cross and a Blessing

Has America Given Up on Children’s Learning?

1 day ago

Could Trump Team Suspend Habeas Corpus to Expedite Deportations?

1 day ago

Two Teens Charged in Shooting Death of Caleb Quick

1 day ago

India and Pakistan Agree to a Ceasefire After Their Worst Military Escalation in Decades

1 day ago

Ukraine and Allies Urge Putin to Commit to a 30-Day Ceasefire or Face New Sanctions

1 day ago

Soviet-Era Spacecraft Plunges to Earth After 53 Years Stuck in Orbit

1 day ago

Tax the Rich? Slash Spending? Republicans Wrestle With Economic Priorities in the Trump Era

1 day ago

Israeli Airstrikes Kill 23 in Gaza as Outcry Over Aid Blockade Grows

1 day ago

Experts Call Kennedy’s Plan to find Autism’s Cause Unrealistic

1 day ago

Trump’s Trip to Saudi Arabia Raises the Prospect of US Nuclear Cooperation With the Kingdom

1 day ago

The TikTok Effect: Viral Videos Create the Next Travel Hotspots

A recent study from TripIt and Edelman Data & Intelligence discovered 69% of millennials and Gen Z use social media to find inspiration ...

10 hours ago

https://www.communitymedical.org/thecause?utm_source=Misfit+Digital&utm_medium=GVWire+Banner+Ads&utm_campaign=Branding+2025&utm_content=thecause
10 hours ago

The TikTok Effect: Viral Videos Create the Next Travel Hotspots

10 hours ago

‘The Studio’ Knows the Real Reason Movies Are Bad

1 day ago

US-China Tariff Talks to Continue Sunday, an Official Tells The Associated Press

1 day ago

Has America Given Up on Children’s Learning?

1 day ago

Could Trump Team Suspend Habeas Corpus to Expedite Deportations?

The Clovis Police Department identified two suspects they have arrested in connection with the murder of Caleb Quick, 18, at a Saturday, May 10, 2025, news conference. (GV Wire Composite)
1 day ago

Two Teens Charged in Shooting Death of Caleb Quick

1 day ago

India and Pakistan Agree to a Ceasefire After Their Worst Military Escalation in Decades

1 day ago

Ukraine and Allies Urge Putin to Commit to a 30-Day Ceasefire or Face New Sanctions

Help continue the work that gets you the news that matters most.

Search

Send this to a friend