U.S. in a stronger position than any nation in the world, says Biden
Washington DC: President Joe Biden said Thursday that a recession was “not inevitable” and held out hope of giving the country a greater sense of confidence. “First of all, it’s not inevitable,” he said. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation.”
Biden said he wants to endow the U.S. with more verve, fortitude, and courage. “Be confident,” Biden said. “Because I am confident. We’re better positioned than any country in the world to own the second quarter of the 21st century.”
Speaking to The Associated Press in a 30-minute Oval Office interview, the president emphasized the battered economy that he inherited and the lingering psychological scars caused by a pandemic that disrupted people’s sense of identity. He bristled at claims by Republican lawmakers that last year’s Covid-19 aid plan was fully to blame for inflation reaching a 40-year high, calling that argument “bizarre.”
As for the overall American mindset, Biden said, “People are really, really down.”
“Their need for mental health in America has skyrocketed because people have seen everything upset,” Biden said. “Everything they’ve counted on upset. But most of it’s the consequence of what happened, what happened as a consequence of the Covid-19 crisis.”
The president outlined some of the hard choices he has faced, saying the U.S. needed to stand up to Russian President Vladimir Putin for invading Ukraine in February even though tough sanctions imposed as a result of that war have caused gas prices to surge, creating political risk for Biden in an election year. He called on oil companies to think of the world’s short-term needs and increase production.
Asked why he ordered the financial penalties against Moscow that have disrupted food and energy markets globally, Biden said he made his calculation as commander in chief rather than as a politician thinking about elections.
