Leaders.com
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
Public Policy Biden

Biden refuses to pivot on economic policy (ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Feb 10, 2023

Biden Promises To Stay the Course 

Every indication suggests that President Joe Biden will continue pushing his economic vision without offering concessions to House Republicans. 

Key Details

  • President Biden gave his third State of the Union address Tuesday night—discussing the state of the economy, social issues, and how he plans to use the federal government to benefit Americans. 
  • His economic proposals include calls for a 4% excise tax on stock buybacks, a billionaire tax, and a push for domestic manufacturing. 
  • In the days following the speech, Biden has not walk backed any of his proposals. Despite losing the House of Representatives in the 2022 midterms, the president has not altered his spending policies and sweeping reform proposals.

Why It’s News 

The aftermath of the midterms has emboldened President Biden. Despite numerous signals that he was expected to lose both houses of Congress, an upsurge in millennial votes and apathy toward candidates backed by former President Donald Trump meant only that Republicans gained a small majority in the House and lost seats in the U.S. Senate. 

According to his aids, Biden believes his message of economic protectionism, environmental reform, tax increases, heavy spending, and increased federal aid is a winning message, The New York Times notes. 

At a time when the Federal Reserve is raising interest rates in order to tame inflation, the president makes no mention of what the added spending will do to the economy—given that pouring so many more billions into money supply is likely to stoke inflation once again.

Notable Quote 

“We’re building an economy where no one’s left behind. Jobs are coming back. Pride is coming back because of the choices we made in the last several years. You know, this is, in my view, a blue-collar blueprint to rebuild America and make a real difference in your lives at home,” says Biden. 

The Problem 

Very few of Biden’s priorities and legislation are likely to pass the House of Representatives for the duration of this presidential term. But Biden is still in a position to continually push House Republicans to fall in line and continue advancing many of the projects he began in late 2022—including the Inflation Reduction Act and Student Loan Forgiveness. 

It is unlikely that any such legislation will pass, but GOP efforts to overturn his previous legislation and executive orders outside the courts will also likely be fruitless. 
Biden also has reelection concerns to consider. While he is confident in the appeal of his message, he is betting that the economic recovery and recession fears over the next year and a half will not be harmful enough to affect his campaign, The New York Times notes. 

Home / News / Biden Promises To Stay the Course 
Share
FacebookTweetEmailLinkedIn

Related Stories

Wall Street Makes $100 Billion Bet on Weight Loss Pills

by PJ Howland Leaders Staff
Investing

Oct 25, 2023

Ozempic

Investor optimism around a potential blockbuster obesity drug by Structure Therapeutics led to soaring share prices across the weight-loss pharma sector.

Key Details

  • Structure Therapeutics' stock jumped 35% after reporting positive results from early clinical trials of a once-daily weight-loss pill.
  • The experimental drug helped participants lose about 5% of their body weight over one month without side effects, although there are concerns with Ozempic.
  • Analysts predict the global anti-obesity medication market could reach sales of $100 billion by 2030, up from $71 billion currently.
  • With promising growth prospects, investors are betting on companies developing new weight loss drugs like Structure, Eli Lilly, Novo Nordisk, and Pfizer.

Go deeper

FacebookTweetEmailLinkedIn

Parent’s Wealth Tip The Scales In SAT Scores and College Admissions

by PJ Howland Leaders Staff
Wealth

Oct 25, 2023

Parent's wealth tips the scales for SAT numbers

New data shows a strong correlation between family income and SAT scores, indicating the exam may act as a “wealth test” that advantages higher-income students.

Key Details

  • Students from wealthier families tend to score higher on the SAT than lower-income peers due to advantages like well-funded schools, tutors, and extracurricular activities.
  • The pandemic has exacerbated SAT score disparities, with average scores dropping the most among disadvantaged groups.
  • Addressing the gap requires increased funding for lower-income school districts and expanding access to test prep resources.
  • Children from the top 1% of families are twice as likely to attend an Ivy-Plus college (Ivy League, Stanford, MIT, Duke, and Chicago) compared to middle-class families with similar SAT/ACT scores.

Go deeper

FacebookTweetEmailLinkedIn

Layoffs Continue Across Auto, Tech, Media, and More Industries

by PJ Howland Leaders Staff
Business

Oct 18, 2023

job losses

Major companies across various industries announced significant job cuts as economic conditions continue to pressure businesses.

Key Details

  • LinkedIn, Rolls-Royce, Stack Overflow, Qualcomm, PNC Bank, and others have announced layoffs impacting thousands of employees.
  • Several notable tech companies and startups, including Meta, Uber, and Airtable, are reducing headcounts by up to 27%.
  • The Washington Post plans to offer buyouts to 240 employees due to slow subscription growth.
  • Automakers like Ford and GM have cut over 1,000 jobs as the auto industry faces ongoing issues.
  • Major financial services companies, including Goldman Sachs, JP Morgan, and Morgan Stanley, are eliminating thousands of positions.

Go deeper

FacebookTweetEmailLinkedIn
Palestinian Militants Launch Rocket And Ground Attack On Israel
Public Policy

Oct 9, 2023

Israel Stunned as Hamas Launches Deadly Surprise Attack

by PJ Howland Leaders Staff
Trump Taps Jim Jordan As Speaker Pick
Public Policy

Oct 6, 2023

Trump Taps Jim Jordan As Speaker Pick

by PJ Howland Leaders Staff
Company Culture

Sep 5, 2023

Remote Work Is a $1.3 Trillion Liability

by Tyler Hummel Leaders Staff

Recent Articles

Hiring

Nov 1, 2023

Learn the Winning Answers to the Most Common Phone Interview Questions

Come to your next phone interview fully prepared

Personal Growth

Oct 30, 2023

85 Quotes on Self-Love to Boost Your Self-Esteem

Don’t fall into the trap of harsh self-criticism

Company Culture

Oct 27, 2023

What is a Sabbatical? Your Ticket to Restful Growth and Meaning

Sabbaticals can benefits both employees and businesses

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com