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 3 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

Trump Criticizes Judge and His Daughter After Gag Order in Hush-Money Case

DON'T MISS

Police Had About 90 Seconds to Stop Traffic Before Baltimore Bridge Fell. 6 Workers Are Feared Dead

DON'T MISS

NBC Has Cut Ties With Former RNC Head Ronna McDaniel After Employee Objections, Some on the Air

DON'T MISS

Chinese Leader Xi Issues a Positive Message to US Business Leaders as Ties Improve

DON'T MISS

Cargo Ship Lost Power, Issued Mayday Before Hitting Baltimore’s Bridge

DON'T MISS

Trump’s Social Media Company Soars Nearly 50% in Its First Day of Trading on Nasdaq

DON'T MISS

Supreme Court Appears Likely to Preserve Access to Abortion Medication Mifepristone

DON'T MISS

Court Agrees to Pause Trump’s Civil Fraud Judgment if He Puts up $175M

DON'T MISS

Fresno Police Nab Suspect in March 14 Slaying on Bulldog Lane

DON'T MISS

This Kitty Checks All the Boxes: ‘Happy, Playful, Loves to Eat’

No data was found

Trump Criticizes Judge and His Daughter After Gag Order in Hush-Money Case

8 hours ago

CA Insurance Market ‘in Chaos,’ Says Former Insurance Commissioner. Can Lara Fix It?

9 hours ago

Stock Market Today: S&P 500 Sets a Record After Wall Streets Breaks Out of Its Lull

9 hours ago

House Speaker Mike Johnson Headed to Fresno on April 4

9 hours ago

Bredefeld, Smittcamp Debate the Salary of Valley Children’s CEO

9 hours ago

CA’s Liberal Government Has a Long History of Caving to Special Interests

9 hours ago

Corrupt Process? Bullard, Edison Parents Blast Handling of Superintendent Search

10 hours ago

Police Had About 90 Seconds to Stop Traffic Before Baltimore Bridge Fell. 6 Workers Are Feared Dead

11 hours ago

NBC Has Cut Ties With Former RNC Head Ronna McDaniel After Employee Objections, Some on the Air

11 hours ago

Here Are Some Numbers That Will Help You Get Your March Madness Fix for the Sweet 16

11 hours ago

Ukrainian Navy Says a Third of Russian Warships in the Black Sea Have Been Destroyed or Disabled

KYIV, Ukraine — Ukraine has sunk or disabled a third of all Russian warships in the Black Sea in just over two years of war, the navy spokes...

2 hours ago

2 hours ago

Ukrainian Navy Says a Third of Russian Warships in the Black Sea Have Been Destroyed or Disabled

Composite image of President Trump and Devin Nunes
6 hours ago

Wired Wednesday: How Going to Work for Trump Turned Devin Nunes Into a Millionaire

7 hours ago

Former Sen. Joe Lieberman, Democrats’ VP Pick in 2000, Dead at 82

8 hours ago

Trump Criticizes Judge and His Daughter After Gag Order in Hush-Money Case

9 hours ago

CA Insurance Market ‘in Chaos,’ Says Former Insurance Commissioner. Can Lara Fix It?

9 hours ago

Stock Market Today: S&P 500 Sets a Record After Wall Streets Breaks Out of Its Lull

9 hours ago

House Speaker Mike Johnson Headed to Fresno on April 4

9 hours ago

Bredefeld, Smittcamp Debate the Salary of Valley Children’s CEO

MENU

CONNECT WITH US

Search

Send this to a friend