Joe Biden June Jobs Report Speech Transcript

Joe Biden: (00:00) You brought us something else to celebrate. This morning, we learned that in June, our economy created 850,000 jobs. 850,000 jobs. Wages went up for American workers. Since I took office, our recoveries created an average $600,000... dollars... they probably wish those 600,000 jobs paid $600,000 a year, but 600,000 jobs per month. We've now created over three million jobs since I took office, more jobs than have ever been created in the first five months of any presidency in modern history, thanks to the incredible work of the entire team. This is historic progress, pulling our economy out of a worst crisis in a hundred years, driven in part by our dramatic progress in vaccinating our nation and beating back the pandemic as well as other elements of the American Rescue Plan. Today, the U.S. is the only major advanced economy where the OECD projections of future output are higher today than they were in January, 2020 before the pandemic hit. And America was ranked first in Bloomberg's COVID Resilience Ranking. Joe Biden: (01:20) None of this happened by accident. Again, it's a direct result of the American Rescue Plan. And, at the time, people questioned whether or not we should do that, even though we didn't have bi-partisan support. Well, it worked. In February, the congressional budget office projected 2021 economic growth would be 3.7%. Yesterday they double that number to 7.4%, in large part, thanks to the American Rescue Plan and our work to defeat the virus. The last time the economy grew at this rate was in 1984. And Ronald Reagan was telling us, "It's morning in America." Well, it's getting close to afternoon here. The sun is coming out. At the time, the CBO revised their long run deficit projections down as a share of GDP, as they just have done. Joe Biden: (02:14) So, the American Rescue Plan is strengthened our financial position and it grows our economy. It's continuing to grow our economy. And the strength of our recovery is helping us flip the script. Instead of workers competing with each other for jobs that are scarce, employers are competing with each other to attract workers. That kind of competition in the market doesn't just give workers more ability to earn higher wages. It also gives them the power to demand to be treated with dignity and respect in the workplace. More jobs, better wages, that's a good combination. Put simply, our economy is on the move, and we have COVID-19 on the run. Yes. We have more work to do to get America vaccinated and everyone back to work. We're aiming for full employment, that means keeping our pace on job growth, including for black, Hispanic, and Asian workers. But this progress is testament to our commitment to grow this economy from the bottom up and the middle out. Joe Biden: (03:15) The American Rescue Plan provided resources to get shots in people's arms and checks in people's pockets. Schools. Schools are struggling to reopen. So, we made vaccinating teachers a priority, getting schools the much needed support. Just in the month of March, we added 364,000 education jobs and roles. Small businesses and restaurants were getting crushed. Now, we're delivering the loans and support they need to reopen and to stay open. This morning, we've learned that jobs in some heartiest sectors, such as restaurants, hotels, amusement parks, were up by 343,000 last month, over 1.5 million in the past five months. And more help was on the way to give families just a little bit more breathing room. Joe Biden: (04:06) Starting this month, families are going to receive one of the largest ever single year tax cuts that middle-class families have ever received. And it's called the Childcare Tax Credit. And here's how it works. In the past, if you paid taxes and had a good income, you could deduct $2,000 per child, and that would come off the total amount of taxes you owed. You had two children, you owed $10,000, you'd take off $4,000. In the American Rescue Plan, We expanded that. Now, a apparent would get $3,600 for each child under the age of six and $3,000 for dependents they have between the ages of six and 17. So, instead of just being a credit against the taxes you owe, it's now a fully refundable credit, half of which will get paid out in a monthly basis. Joe Biden: (05:03) Look, what that means is, this year, middle-class families with two young children can expect to receive a $7,200 rebate, in effect, a tax return with the monthly payments of $600 a month, starting this month until it's paid out. Eight out of every ten families who use direct deposit will get their refunds. They'll be able to it a monthly payment on the 15th of every month from now to the end of the year. So, they get that paid out. Help with families most need help to make ends meet. It's important. I've said for a long time, it's time to give ordinary folks, ordinary Americans, middle class and working class Americans, a tax break. Joe Biden: (05:55) This is a type of tax cut that can help our economy, because it will go to families who are going to spend it. It will also help lead a historic reduction in child poverty. Excuse me. Historic reduction in child poverty, which will have long-term benefits for our economy. And we're delivering 39 billion dollars to help childcare providers serve more families, to help parents, particularly women, get back to work. Last month, our economy added nearly 25,000 childcare jobs. Again, none of this happened by accident. We're proving to the naysayers and the doubters that they were wrong. None of this is guaranteed to continue, though, unless we finish our work. Now is the time to accelerate the progress we've been making. Now is the time to build in long-term foundation that we've laid it, and build it in for a long-term. Economist of all stripes agree that my plan will create good jobs and drastically strengthen our economy in the long run. Joe Biden: (07:08) So, we have to continue to make the investments that will allow our economy to build back better and deal everyone in. We took a significant step in that direction last week, when the bipartisan group of senators forged an agreement with me to move forward on key portions of my American Jobs Plan. I was just in Wisconsin where I highlighted how this agreement's going to pave the way for a generational investment to modernize the infrastructure, create millions of jobs, according to the experts, and what will be an... it won't just be in the center cities. It will be every corner of the state and our nation. We're going to create jobs repairing roads and bridges, replacing 100% of our nation's lead water pipes, making our power grid more reliable, delivering high-speed internet to every American home, rural and urban. We're going to put people to work building a nationwide electric vehicle charging network, transitioning from diesel school buses and transit buses to electric buses, and bringing in world-class rail service to more Americans by reducing and in the process, reduce our carbon footprint. Joe Biden: (08:21) For example, when I was up in Wisconsin, I pointed out... the governor was there. I said, "Gov, I know it takes," there were I don't know how many people, a couple hundred people, I guess, in the audience. I said, "It takes, they tell me, four and a half hours to drive from here to Chicago. With the money we have for mass transit here, you're going to be able to do that in two and a half hours." And all the data shows that, when it's easier to get someplace by rail than by automobile, it's cheaper and it generates a whole lot less carbon footprint. Joe Biden: (08:54) We're going to create good paying union jobs capping hundreds of thousands of abandoned oil and gas wells to stop methane leaks, which are devastating, and to protect the health of our communities. These are good jobs. Taken together, these investments are going to position American to compete with the world and win the 21st century. Joe Biden: (09:15) Now, as you bring home key parts of my American Jobs Plan, I'm going to make the case for equally critical investments that we still need, including those which I introduced at the same time, my Americans Family Plan. When I was running for president, I put together a bold, aggressive plan to deliver childcare, paid leave, universal pre-K for three and four year olds, free community college. Maybe the most important thing among them was extending the childcare tax credit I just mentioned for another five years, which would significantly benefit middle-class and working class families. That human infrastructure is as essential as our physical infrastructure. It can help us create more good jobs, eases the burden on working families, and strengthen our economy, strengthen it in the long run. These investments are critical. Joe Biden: (10:05) And as the plans I put forward to tackle our climate crisis, which are broad and deep, I'm going to fight to see them enacted and signed into law. We have a chance to seize this economic momentum of the first months of my administration, not just to build back, but as I've been saying, build back better. This much has already clear, we're on track and we're on the right track. Our plan is working. We're not going to let up now. So, I want to thank everyone, wish you all a happy 4th of July. We're going to be able to go to ball games. You're be able to sit in stadiums. You're going to be able to be with your families in backyard barbecues, as we hoped, and we're going to make more progress. So, God bless America, and may God protect our troops. Speaker 2: (10:55) Mr. President. Speaker 3: (10:56) Do you know, just about Afghanistan, is the draw down going to be gone in the next few days? Joe Biden: (11:01) No. Speaker 3: (11:03) No. Joe Biden: (11:03) We're on track exactly as to where we expected to be. But I wanted to make sure there was enough "running room" that we wouldn't be able to do it all to September. There will still be some forces left, but it's a rational draw down with our allies. So, there's nothing unusual about it. Speaker 3: (11:25) Are you worried that the Afghan government might fall? I mean, we were hearing about the Taliban was taking more and more districts. Joe Biden: (11:32) Look, we were in that war for 20 years, 20 years. And I think I met with the Afghan government here in the White House, in the Oval. I think they have the capacity to be able to sustain the government. There are going to have to be, down the road, more negotiations, I suspect. But I am concerned that they deal with the internal issues that they have to be able to generate the kind of support they need nationwide to maintain the government. Speaker 2: (12:05) Mr. president- Speaker 4: (12:05) Sir- Speaker 2: (12:06) To follow up on Afghanistan. Joe Biden: (12:08) I want to talk about happy things, man. Speaker 2: (12:12) If there is evidence that Kabul is threatened, which some of the intelligence reports have suggested, it could be in six months or there abouts. Do you think you've got the capability to help provide any kind of air support, military support to them to keep the capital, say, even if the us troops are, obviously, pulling out by that time? Joe Biden: (12:35) We have worked out an over the horizon capacity that we can be value added. But the Afghans are going to have to be able to do it themselves with the air force to have, which we're helping them maintain. Speaker 4: (12:47) Mr president, on Afghanistan- Speaker 5: (12:47) Sir, are you- Joe Biden: (12:50) I'm not going to answer any more questions on Afghanistan. Look, the 4th of July. Speaker 5: (12:55) Are you concerned about 4th of July [crosstalk 00:12:55]. Joe Biden: (12:56) I'm concerned that you guys are asking me questions that I'll answer next week. But this is a holiday weekend. I'm going to celebrate it. There's great things happening. Economy is growing faster than any time in 40 years. We've got a record number of new jobs. COVID deaths are down 90%. Wages are up faster than any time in 15 years. We're bringing our troops home. We have all across America, people are going to ball games and doing good things. This is a good. I'll answer all your negative questions, not negative, your legitimate questions. Speaker 5: (13:26) With the gatherings, are you concerned that there is a potential this weekend, in places where vaccination levels are not particularly high, that there will be a new COVID outbreaks in various regions? Joe Biden: (13:36) I am concerned that people who have not gotten vaccinated have the capacity to catch the variant and spread the variant to other people who have not been vaccinated. I am not concerned there's going to be a major outbreak. In other words, that we're going to have another epidemic nationwide. But I am concern lives will be lost. And I was even reading today, there is some speculation, some judgment that's coming out that you may be able to even communicate the new of variant to your pets. So, I say, not totally facetiously, for those of you who haven't been vaccinated because you don't think you want to go through it, it doesn't hurt. It's accessible. It's free. It's available. And not only don't think about yourself, think about your family. Think about those around you. That's what we should be thinking about today. 4th of July to this year is different than the 4th of July last year. And it's going to be better next year. Thank you all. Speaker 6: (14:46) Mr. President, do you think that Congress will enact your plans? Joe Biden: (14:49) Yes. Speaker 6: (14:50) Are you confident that you're going to get it done? Come on. Joe Biden: (14:54) Come on, guys. Have you ever been confident about any thing with guaranteed-