Although he hasn't officially declared his intention to stand for a second term in office, Biden has effectively begun his election campaign, touting his successes and accusing Republicans of jeopardizing the economy and the welfare of employees. This was backed up by favorable figures released by the Bureau of Economic Analysis on Thursday, which revealed an increase in the economy's growth.
"Since I was elected," Biden started, exhibiting some irritation with the notion of a bad economy despite the existing expansion and healthy employment figures, "I have been informed that we were going to experience a recession. Fortunately, it appears they were incorrect." He then noted some other positive figures, such as the lowest unemployment rate in half a century, an all-time high of jobs created in the initial two years of a president's tenure, as well as the most successful two-year period for small business formation ever.
President Biden announced the formation of the "Invest in America" cabinet, made up of the heads of Commerce, Labor, Transportation, Treasury, Energy, Health and Human Services, the EPA, Mitch Landrieu and John Podesta. This team will be responsible for ensuring the effective enactment of the Bipartisan Infrastructure Act and the Inflation Reduction Act, according to the White House. "We've gotten it all passed," Biden stated regarding the infrastructure bill and the Inflation Reduction Act.