What Did Joe Biden Do Today?
August 14, 2024 Recap
President Biden's statement on the July Consumer Price Index highlights the progress made in reducing inflation, noting that inflation rates have dropped below 3%, and core inflation is at its lowest since April 2021. He acknowledges ongoing high prices but points to efforts to lower costs for Americans, such as addressing prescription drug prices, housing affordability, and price gouging. Biden contrasts his administration's approach with that of Congressional Republicans, whom he accuses of policies that would raise costs for middle-class families while benefiting the wealthy and large corporations.
Additionally, Biden highlights a record 19 million new business applications since he and Vice President Harris took office, emphasizing the role of Black, Latino, and women entrepreneurs in this growth. He attributes this success to the administration's support for small businesses, particularly during the pandemic. He criticizes Congressional Republicans for proposing cuts to the Small Business Administration while favoring tax cuts for big corporations.
Vice President Kamala Harris echoed these points, celebrating the record number of new small business applications and underscoring the administration's commitment to supporting small businesses, especially in underserved areas. Harris mentioned significant investments in community lenders to help small business owners from underrepresented groups and reiterated the administration's dedication to helping small businesses thrive.
In his remarks at the White House Creator Economy Conference, President Biden welcomed participants by acknowledging their growing influence, particularly on younger generations, including his own grandchildren. He noted that many young people now turn to creators rather than traditional media for news and information, underscoring the shift in how content is consumed. Biden humorously engaged with the audience, joking about his own age and the possibility of joining their industry in the future. He highlighted the significant economic impact of the creator economy, valued at $250 billion and projected to double in the coming years. This, he noted, is a testament to the rapid technological changes that are reshaping society.
Biden emphasized the responsibility that comes with this influence, particularly in an era where misinformation is rampant and the political landscape is highly polarized. He reflected on his own experience in politics, noting that the current climate is more divided than ever. He encouraged the creators to maintain their commitment to truth and to use their platforms to bridge divides and foster trust. Biden acknowledged the power of creators to cut through the noise and reach audiences in ways traditional media may no longer be able to.
The President also discussed his administration’s efforts to tackle high drug prices, using insulin as a key example. He shared a personal story about being thanked by a citizen for the price reduction from $400 to $35, highlighting the real-world impact of these policies. Biden framed this as an issue of fairness and decency, arguing that making essential medicines affordable is not about socialism but about ensuring everyone has a fair shot—a theme he has championed throughout his career.
Biden concluded by reflecting on the broader challenges facing the country, including a decline in public trust and a mental health crisis exacerbated by the pandemic. He urged the creators to continue using their platforms responsibly, acknowledging the unique position they hold in shaping public discourse. By fostering trust and promoting accurate information, Biden suggested that creators could play a vital role in helping to heal the divisions in American society.
President Biden issued a statement marking the 12th anniversary of American journalist Austin Tice's captivity in Syria. The President reiterated the U.S. government's ongoing efforts to secure Tice's release, urging the Syrian government to cooperate. He emphasized the importance of press freedom and expressed solidarity with Tice, his family, and all Americans wrongfully detained abroad. President Biden is committed to continuing efforts to secure Tice's release and supporting his family until he is safely returned home.
President Biden had a conversation with President José Raúl Mulino of Panama to congratulate him on the start of his new administration and reinforce the commitment to the U.S.-Panama partnership based on shared democratic values. They discussed collaboration on addressing irregular migration through Panama, with a focus on regularizing migrant populations and enhancing humane enforcement efforts. President Biden acknowledged President Mulino as an important ally in promoting safe and orderly migration in the region. He thanked him for his government's efforts in this area since taking office on July 1. They also expressed concerns about the flawed vote-counting process in Venezuela's recent election. They discussed Panama's role in supporting regional efforts to restore democracy in Venezuela and oppose political repression.
President Biden has declared a state of emergency in Puerto Rico due to the impacts of Tropical Storm Ernesto, which began on August 13, 2024. This declaration allows the Federal Emergency Management Agency (FEMA) to coordinate disaster relief efforts to help the local population, protect public health and safety, and mitigate the risk of further damage across all 78 municipalities in Puerto Rico. FEMA is authorized to provide necessary resources and equipment, with the federal government covering 75% of the costs for emergency protective measures.
President Biden issued a statement praising Japanese Prime Minister Kishida Fumio for his leadership, calling it historic. Biden highlighted Kishida's contributions to strengthening the U.S.-Japan Alliance, supporting Ukraine during Russia’s invasion, and advancing trilateral cooperation with South Korea. The President noted that Kishida's actions were driven by moral clarity and courage, which have transformed Japan's global role. He concluded by expressing gratitude for Kishida's friendship and leadership, emphasizing that it has made the U.S.-Japan Alliance stronger and more promising for the future.
Press Secretary Karine Jean-Pierre and Jared Bernstein, chair of the United States Council of Economic Advisers, held a press briefing to provide updates on the state of the U.S. economy. They highlighted that inflation has fallen to 3%, with wages rising faster than prices for the past 17 months, signaling positive momentum in the fight against inflation. Additionally, the Biden administration has overseen a record 19 million new business applications, with notable growth among Black, Latino, and women entrepreneurs. The administration continues to focus on lowering costs in critical areas such as prescription drugs, housing, and energy, acknowledging that while progress has been made, challenges remain in making everyday expenses more affordable for American families.
The labor market was another focal point, with ongoing wage growth outpacing inflation for most workers. However, Bernstein addressed concerns about a slowdown in job creation, emphasizing that monthly data can be misleading and does not necessarily indicate a new trend. Despite improvements in the economy, there remains a disconnect between positive economic data and public perception, with many Americans still feeling the impact of high prices. The administration is aware of these concerns and is committed to addressing them.
Furthermore, the briefing touched on the possibility of a recession, which the administration does not currently believe is imminent, citing strong GDP growth and a solid labor market as indicators of a healthy economy. The briefing also covered other topics, such as crime rates, the international situation in Venezuela, and various administrative updates. Overall, the administration conveyed that while progress has been made, they remain focused on tackling ongoing economic challenges and improving the lives of American families.
President Biden welcomes over 100 leaders in the digital creator economy to the White House
