Biden Kicks Off Campaign Touting US Economy
Faizan Hashmi Published March 29, 2023 | 08:30 AM
Durham, United States, (UrduPoint / Pakistan Point News - 29th Mar, 2023 ) :President Joe Biden launched a new drive Tuesday to promote a major theme of his expected reelection campaign, touting what he said was a resurgence of US manufacturing -- and warning Republicans could tank the economy.
"I've been determined to make things in this country again, to build American manufacturing capacity," Biden said at Wolfspeed, a semiconductor manufacturing plant in Durham, North Carolina, that recently announced a $5 billion expansion.
Ramping up US capacity in a global race to produce the tiny, high-tech components at the heart of most modern technology has been a Biden priority since he took office in 2021.
His trip to the factory kicked off what the White House is calling a three-week "Investing in America" tour where top officials will visit some 20 states to tout newly created manufacturing jobs in the semiconductor industry and in a variety of other sectors boosted by massive government incentives.
According to the White House, more than $435 billion in new investments has been announced under Biden, about half of that in clean energy and electric vehicle companies, and the other half in semiconductors.
"If we invest in America, we can change the country's future," said Biden, who has not yet announced a bid for a second term in 2024, but has made clear he intends to run.
Biden's boast about the economy contrasted with Republican accusations that he is responsible for stubbornly high inflation.
"Biden is out of touch with reality," Republican National Committee chairwoman Ronna McDaniel said in a statement titled "Biden's Bankrupting America Tour.
" Biden lashed out in his North Carolina speech at Republican refusal to quickly extend the nation's debt limit, usually a relatively standard accounting procedure by Congress.
Numerous high-profile Republicans in Congress have instead suggested refusing to lift the debt ceiling as a way to strongarm Biden into steep budget cuts. According to economists, a US debt default would likely plunge the world economy into severe turmoil.
"They're putting our economy in jeopardy by threatening to refuse to pay America's bills," Biden said.
On Tuesday Republican Kevin McCarthy, speaker of the US House of Representatives, wrote to Biden accusing him of "refusing to negotiate any meaningful changes to out-of-control government spending." Biden, who says he is open to trying to bring more balance to the budget, responded in a letter urging McCarthy to publish a detailed Republican budget proposal "so that we can have an in-depth conversation."However, he stressed that any future budget deliberations must be in parallel to a straight approval for raising the current debt limit, ensuring that the country will not default when today's available money runs out sometime this summer.
"That conversation must be separate from prompt action on the Congress' basic obligation to pay the Nation's bills and avoid economic catastrophe," Biden wrote in the letter published on his Twitter account.
Related Topics
Recent Stories
Pakistan among nine poor countries that produces 90 percent cigarettes for world
Drug peddler arrested; 2310 grams hashish recovered
Bushra Bibi's medical tests conducted in best private hospital: NA told
Ambiguous terms in 'Nikah Nama' can't be used against bride: SC
Minister for Foreign Affairs Ishaq Dar renews Pakistan’s commitment to promoti ..
Provincial Transport Minister Bilal Akbar Khan visits general bus stand, inspect ..
Director General HDA for completing development work on Gulistan-e-Sarmast Hous ..
EU parliament's youngest lawmaker eyes re-election
Fake chilli factory unearthed
10 dead as floods wreak havoc in Kenyan capital
WASA launches comprehensive campaign to test quality of water
Food Authority team conducts operation in Jackson market harbor area
More Stories From Miscellaneous
-
PDMA predicts gusty wind, rain with thunder, hails
1 day ago -
Iranian president Raisi given guard of honour at PM House
2 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
3 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
3 days ago -
Cattle farming vital to alleviate poverty in rural areas
3 days ago -
Pakistan: A land of tourism, archeological wonders
3 days ago
-
Transforming education sector: from job hunters to job creators
5 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
9 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
10 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
10 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
13 days ago -
Radio Bahawalpur to broadcast Eid programs
15 days ago