President Joe Biden has claimed a victory for American economic prowess in response to the latest GDP report, underscoring more than two years of sub-4% unemployment rates and a nation still on a trajectory of growth. The economy has grown more since I took office than at this point in any presidential term in the last 25 years, Biden said in a statement. 

The President's rosy picture contained data points such as the 3% growth witnessed over the past year, however, he was quick to highlight that the administration is not resting on its laurels as the battle to bring down costs for the average American family continues, with healthcare, and housing costs in his crosshairs, he’s going after corporate practices purportedly inflating prices for consumers, with a bold promise to dismantle 'hidden junk fees' lining the pockets of industry giants in air travel and banking. Biden's acknowledgment of high living costs for Americans comes with a plan purportedly set to ease the strain on working families, targeting, in particular, housing affordability through a pledge for one million new homes.

While the Commander-in-Chief beats the drum of economic triumph, his statement took a sharp turn towards pointed criticism of his political opposition, biting into Congressional Republicans with the accusation of peddling a tax cuts agenda for the wealthy at the expense of key social programs like Social Security, Medicare, and the Affordable Care Act. Congressional Republicans have no plan to lower costs, he asserted, framing the GOP's economic strategy as one that panders to the top echelons, diverging sharply from Biden's middle-out and bottom-up approach.

In his fiery narrative, the urgency is clear as Biden proclaims the necessity for an economic system where the middle class has a fair shot and no one is left behind, a signal likely to resonate with working Americans who still feel the pinch despite broader indicators of economic health, his administration's efforts to lower drug and healthcare costs, ban exploitative fees, and press for affordable housing are framing the economy as more than just numbers— but as a living, breathing entity in need of nurturing, which links back directly to the wellbeing of American families feeling the squeeze of a post-pandemic economy still finding its full stride.

The full statement from President Biden was published earlier today and is available to read on the White House website.