As Americans across the country celebrate Labor Day today, President Biden makes his case for Bidenomics in Wisconsin in an op-ed in the Milwaukee Journal-Sentinel.
Three weeks ago, at a clean energy factory in Milwaukee, I met an IBEW electrician who builds and repairs America’s growing fleet of wind turbine generators. He said, “In America, with hard work and a little faith, anything is possible.”
He embodies the spirit of Labor Day, which honors the dignity of the American worker and recognizes that Wall Street didn’t build America, the middle class built America, and unions built the middle class.
We’ve seen that spirit throughout our history, especially over the last three years as we’ve been rebuilding our economy from the middle out and bottom up, not from the top down. Our plan, called Bidenomics, is working.
I’m proud of the historic laws I’ve signed that are leading our recovery and resurgence. More than 13 million jobs, including 800,000 in manufacturing. Unemployment below 4 percent for the longest stretch in 50 years. More working-age Americans are employed than at any time in the past 20 years. Inflation is near its lowest point in over two years. Wages and job satisfaction are up. Restoring the pensions of millions of retired union workers – the biggest step of its kind in the past fifty years.
But the real hero of our story is the American worker. It's nurses and homecare workers who put on protective gear and cared for our loved ones. It's truck drivers and grocery workers who get up every day to keep our shelves stocked. It's bricklayers, steelworkers and machinists who are restoring American leadership in the industries of the future.
We’ve attracted over $500 billion in private investment to make clean energy technology, semiconductors and other innovations here at home – creating good-paying jobs that don’t require a four-year degree. Under decades of trickle-down economics, we let jobs and factories go overseas, and China started to dominate manufacturing. Not anymore because we’ve investing in America. Those jobs are coming home and factories are being built here.
But there’s more to do. Here’s what else we are doing for America’s workers.
The Department of Labor is proposing a rule that would extend overtime pay to as many as 3.6 million workers. An honest day’s work should get a fair day’s of pay. A mom in Wisconsin who makes 37,500 a year and has sometimes worked 60-hour weeks could now be eligible to earn time and a half for all the time she works in a week over 40 hours. She can support her daughter and family.
While Congressional Republicans block increasing the minimum wage and attack unions, I will continue to make progress where I can. Last year, I signed an executive order requiring contractors who are doing business with the federal government to pay a minimum $15 an hour for hundreds of thousands of workers. This summer, we updated what’s called Davis-Bacon prevailing wages for the first time in 40 years. That means all those jobs we’re creating with federal investments will pay a prevailing wage you can raise a family on. I continue to call on Congress to pass the Richard L. Trumka Protecting the Right to Organize (PRO) Act, to make it easier for workers to organize and join a union and bargain collectively for better pay, benefits, and conditions.
Additionally, a new report from the Treasury Department this week provides the most comprehensive look ever at how unions are good for America. It definitively concludes that unions help raise incomes; increase homeownership and retirement savings; and reduce inequality, all of which strengthen our economy.
And all these things are true, and yet more Americans believe the economy is worse now than it was under Trump in the depths of his pandemic economic collapse that put 20 million Americans out of work.
Recency bias works both ways. In politics, it's always "But what have you done for me today?" Biden makes that case here, but he's largely going to be ignored as three-quarters of Americans, including a majority of Democrats, say Biden is too old to even be running in 2024.
It's a Trump v. Biden race unless something fundamental gives in the next year, and that race is effectively tied despite Trump facing scores of federal and state felonies.
We're facing obliteration, and yet it's still the damn horse race.
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