Biden unveils new economic plan

>>> PRESIDENT BIDEN HAS UNVEILED HIS NEW PLANS FOR THE U.S. ECONOMY. IS LIKE DURING A SPEECH IN CHICAGO, HE TOUTED GROWING THE ECONOMY BY FOCUSING ON EXPANDING THE MIDDLE-CLASS. MR. BIDEN HAS FACED SKEPTICISM FROM THE AMERICAN PUBLIC OVER HIS ECONOMIC RECORD. HIGH LEVELS OF INFLATION ACCOMPANIED MULTIPLE INTEREST RATE HIKES HAVE COST HIM SOME SUPPORT. PRESIDENT SAID HIS STRATEGY IS WORKING. CLAIMS THE U.S. HAS MADE TREMENDOUS

PROGRESS SINCE 2020. >> WHEN I TOOK OFFICE THE PANDEMIC WAS RAGING AND OUR ECONOMY WAS REALLY. SUPPLY CAINS WERE BROKEN. MILLIONS OF PEOPLE UNEMPLOYED. HUNDREDS OF THOUSANDS OF SMALL BUSINESSES ON THE VERGE OF CLOSING AFTER SO MANY HAD ALREADY CLOSED. LITERALLY HUNDREDS OF THOUSANDS ON THE VERGE OF CLOSING. TODAY, U.S. HAS THE HIGHEST ECONOMIC GROWTH RATE THAT INTEGRAL ECONOMIES SINCE THE PANDEMIC. THE HIGHEST IN THE

WORLD. CELEXA BUSINESS WHITE HOUSE REPORTER BO ERICKSON JOINS US NOW FROM CHICAGO WHERE THE PRESIDENT WAS SPEAKING. WITH HER THE BIGGEST TAKEAWAYS FROM PRESIDENT BIDEN'S UNVEILED PLAN.>> IN A SPEECH HE SAID HE HAS BEEN TELLING UNIONS THEY NEED TO BRAG OR MORE ABOUT THE GOOD WORK THEY DO THROUGHOUT THE COUNTRY AND IT REALLY SEEMS LIKE THAT IS WHAT HE WAS TRYING TO DO ABOUT HIS OWN

WORK IN THE SPEECH TODAY IN CHICAGO. IS IN THE SPEECH THAT HE WAS NOT HERE TO DECLARE VICTORY FOR THE ECONOMY AND THAT THEY HAD MORE WORK TO DO, BUT HE WANTED TO NOTE AND KIND OF BRING ALL OF THE ECONOMIC MESSAGES THE WHITE HOUSE TOGETHER AND WHAT THEY ARE CALLING AND BRANDING BIDEN ECONOMICS WHICH HE SAYS IS REALLY FOCUSED ON THE MIDDLE- CLASS. HE TOUTED

SOME WINS AND NUMBERS HERE. IS REALLY FOCUSING ON THE LOW UNAPPOINTED RATE AROUND 4% AND ALSO THE 13 MILLION JOBS THAT HAVE BEEN ADDED DURING HIS PRESIDENCY. AND HE REALLY STRESSED TODAY THAT THE JOBS WERE REALLY HELPING WOMEN WORKERS, AFRICAN- AMERICAN WORKERS AND HISPANIC WORKERS. HE SAID HE WAS PROUD OF THAT. >> AND HOW IS PRESIDENT BIDEN HOPING TO APPEAL TO VOTERS WITH THE ECONOMIC AGENDA.

WE KNOW THROUGH CBS NEWS PULLING IN HIS HIGH ON THE VOTERS LIST. >> YES. THERE SEEMS TO BE A DISCONNECT BETWEEN A LOT OF AMERICANS. ABOUT 63% OF AMERICANS WHO SAY THE ECONOMY IS NOT DOING WELL RIGHT NOW. WITH THE WHITE HOUSE IS SAYING THAT WHAT THE PRESIDENT IS SAYING IS THE PLAN HAVE LAMENTED LIKE THE BIPARTISAN INFRASTRUCTURE LAW, THAT IT ENCAPSULATES 35,000 INFRASTRUCTURE UPDATES ALL

THROUGHOUT THE COUNTRY. BRIDGES, AND ROAD CIRCUIT IT TAKES A WHILE FOR THOSE TO GET SOME OF THE GROUND. AND THE PRESIDENT SAID THAT NOW, AMERICANS ALL THROUGHOUT THE COUNTRY WILL START SEEING THE PROJECTS TOGETHER. A CONGRESSMAN JOKES THE PEOPLE BETTER GET READY FOR THE TOUR'S COMING UP AND THEY HOPE THAT THE INFRASTRUCTURE UPDATES WILL KIND OF BOOST THE NUMBERS THERE. BUT AS WAS NOTED IN THE

INTRO AS WELL, THE PRESIDENT HAS MORE WORK TO DO. THAT IS WHAT HE SAID. SPECIFICALLY WHEN IT COMES TO INFLATION. THE GROCERY PRICES ARE UP ABOUT 7% LAST YEAR ACCORDING TO THE BUREAU OF LABOUR STATISTICS AND HOW THE PRESIDENT SAID HE WAS GOING TO ADDRESS THE POCKETBOOK ISSUES IS TRYING TO BRING DOWN RACES OF SOME OF THE GOODS LIKE HE TALKED ABOUT BRINGING DOWN THE PRICE

OF INSULIN AND HE TALKED ABOUT GOING AFTER JUNK FEES FROM COMPANIES. THE PESKY SECRET CHARTERS LET US GET WHEN SHOPPING ONLINE. AND HE SAYS TRYING TO GO AFTER THOSE SPECIFIC COSTS, THEY CAN KIND OF BRING DOWN THE PRESSURE ON INFLATION ALTOGETHER. >> AND THOSE TWO EXAMPLES ELICIT, BRINGING DOWN THE COST OF INSULIN, AND JUNK FEES, WE HAVE HEARD FROM PRESIDENT BIDEN ABOUT BOTH OF THESE THINGS

BEFORE AND IN FACT, MUCH OF HIS SPEECH SEEMED TO BE REPETITION OF WHAT THE PRESIDENT HAS SAID BEFORE. IN WHAT WAYS IS THIS ACTUALLY A NEW PLAN ? SELECT THAT IS EXACTLY RIGHT. HE IS BRINGING TOGETHER ALL OF THE WHITE HOUSE MESSAGING AND HE IS TAKING IT ON THE ROAD RIGHT NOW. IT SEEMS TO BE HONEST, THEY ARE REALLY JUST TRYING TO GOAD REPUBLICANS AND TO

IS DOING IN HIS ADMINISTRATOR RIGHT NOW AND DEFINITELY IN THE FUTURE WILL BE DIFFERENT WITHOUT SENATE REPUBLICANS AND HOUSE REPUBLICANS AND MANY CANDIDATES THE CAMPAIGN TRAIL AND IN THE REPUBLICAN FIELD, HOW THEY WILL ADDRESS THE ECONOMY BECAUSE HE SAYS THEY