Visiting Chicago Wednesday, President Joe Biden discussed his economic plan amid high inflation, unemployment and other costs Illinoisans are facing. Republicans say Biden's speech should have been an apology.
It was the president's first visit to Chicago this year. Upon landing at O'Hare Airport, Biden met with Mayor Brandon Johnson and Gov. J.B. Pritzker.
Biden spoke to a group in a Chicago ballroom and discussed his "Bidenomics" economic plan, which he said is a three-part plan that aims to build the economy from the middle out and bottom up. The steps include a focus on investments and the middle class.
"First, making smart investments in America. Second, educating and empowering American workers to grow the middle class. And third, promoting competition to lower costs and help small businesses," Biden said.
The president said his economic endeavors have been successful.
"Bidenonmics is working. When I took office, the pandemic was raging and our economy was reeling. Supply chains were broken. Millions of people unemployed. Hundreds of thousands of small businesses on the verge of closing after so many already closed," Biden said. "Today, the U.S. has the highest economic growth rate, leading the world's economies since the pandemic. The highest in the world."
Illinois U.S. Sen. Dick Durbin, D-Springfield, released a statement in support of the plan and said Biden had brought jobs to Illinois.
"A record-breaking 13 million new jobs were created under this president, including more than 443,000 in Illinois. Factories are reopening. Middle-class wages are going up," Durbin said.
In contrast to the national jobs picture, a report by Wirepoints that looked at Illinois' overall economic performance since 2019 shows 70,000 fewer jobs in that time frame and that the state's real GDP growth was 3.2% from 2019 to 2022, which ranked 10th worst in the country.
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