Daily Mail
Joe Biden said Americans feel more ‘financially comfortable’ in his presidency
He also said the U.S. economy could grow faster than China’s this year
‘America is in a stronger economic position today than just about any other country in the world,’ he said
He also vowed to cut utility and housing costs amid high food and gas prices
Biden’s remarks were tied to May jobs report with 390,000 jobs added
It is the smallest growth rate in a year but still beating expectations
May’s number is down from 428,000 jobs added in both March and April
It ends the record-breaking streak of 12 straight months in which job growth had topped 400,000
President Biden is struggling to combat record high inflation and gas prices
The nationwide average for a gallon of fuel hit a record at $4.71 on Thursday
Voters show frustration with his policies ahead of November election
Joe Biden on Friday bragged about the performance of the economy by saying Americans feel more ‘financially comfortable’ since he came into office, despite 40-year high inflation and record gas prices across the country. Biden vowed to continue trying to bring costs down in his remarks on a U.S. Bureau of Labor Statistics report showing the job market slowed in May with 390,000 jobs while the unemployment rate remained unchanged at 3.6%. Economists praised the figure as healthy and Biden said it showed ‘stable, steady growth.’ ‘America is in a stronger economic position today than just about any other country in the world,’ he said in remarks in Rehoboth Beach, Del., where he is spending the weekend. ‘Independent experts have projected that the US economy could grow faster than China’s economy this year. That hasn’t happened since 1976.’ Biden argued the economic stability put the United States in ‘strong position to tackle what is clearly a problem – inflation.’ He again blamed the high costs of food and gas on Russian President Vladimir Putin’s invasion of the Ukraine. But he also acknowledged the blame being placed on his administration. ‘I understand that families who are struggling, probably don’t care why the prices are up. They just want them to go down,’ Biden said. The price of food is rising and on Thursday average nationwide gas prices hit a new high of $4.71 – with seven states higher than $5. He said his administration would work to help people save money in other areas, such as utility bills, internet service, and prescription drugs. ‘If food and gas prices are going to be elevated by Putin’s price hike, one way we can make things a little better for families is by helping them save on other basic items their family needs on a monthly basis, like their utility bills, their internet bills, their prescription drug bills, and other costs like housing,’ he said ‘My goal is to make sure that, at the end of the month, families have a little more breathing room than they have now.’
