Biden predicts Democrat midterms win, says economy improving

US President Joe Biden, fighting to show voters who encouraged the economy, presented his economic policies on Friday and said he was ready to negotiate with oil companies, as he predicted that the Democrats would win the mid-term elections on Tuesday even though the polls show a victory for the Republicans. During the three-day, four-nation conference, Mr. Biden stopped by Viasat Inc., a US telecommunications company in Carlsbad, California, to promote efforts to expand the production of semiconductor chips and address challenges that arose early in his presidency.

With some Republican support, Mr. Biden signed into law in August the Chips and Science Act to start the production of domestic equipment based on the shortage of cars and technology such as those developed by Viasat. At Viasat, Mr. Biden said the latest government jobs report showing that the US economy added 261,000 jobs last month is a sign of progress.

Also Read :  Stocks soar, yields slide on hints of cooling economy

He said he plans to hold “Come to the Lord” talks with US oil companies soon to complain about their high profits at a time when Americans are paying high prices at the pump. The meeting was not scheduled, Biden explained to reporters after the speech, and the White House said the president was making it clear that he wanted to force companies to change their behavior.

Mr Biden has declared inflation to be his top priority, stressing that he sees the financial problems of the American people as voters go on Tuesday to decide whether he and his fellow Democrats will continue to control the US Congress. “Folks, our economy continues to grow and increase jobs even though oil prices are falling,” he said. “We also know that people are suffering from inflation.” But he said there are “bright spots” where the country is coming back.

Also Read :  Biden's handling of the economy put to the test; Americans weigh in

Forecasts show Republicans are poised to take control of the US House of Representatives and possibly the Senate, which would give them the power to block Biden’s bid for the next two years. The party in the White House has historically lost control of Congress in the first half of a new president’s term.

However, Mr. Biden said he thinks the Democrats can handle what is happening this time. “We will win this time. I feel very good about our chances,” he said, adding that the Democrats have a chance to win the House of Representatives. Biden’s campaign transition ends with a joint appearance in Philadelphia on Saturday with former President Barack Obama.

Also Read :  Sakhalin oil project hints at the potential collapse of Russian output when new EU sanctions take effect

Democrats’ election prospects have been dampened by voters’ concerns about inflation, and Biden’s approval rating has remained below 50% for more than a year, coming in at 40% in the latest Reuters/Ipsos poll. Mr Biden also warned of what Democrats say is a threat that Republicans with the support of former President Donald Trump are bringing to US democracy.

(This article has not been edited by the Devdiscourse staff and was only created from an aggregate feed.)

Source

Leave a Reply

Your email address will not be published.