March 8, 2024
The State of the Union edition. When President Biden delivered his speech Thursday evening, it was an opportune time for reflection. What has our country gotten right over the past three years? Where have we fallen short? What accomplishments can we celebrate, and what of the unfinished business that remains?
On the one hand: it takes a calculator full of numbers to lay out the good that has occurred. The rate of inflation is down sharply – cut more than half in two years. Unemployment is at historic lows. Job creation has never been so robust – and hundreds of thousands of jobs continue to be added to the economy each month, despite high interest rates. New businesses are on the rise, and women, Black, and Latino entrepreneurs are benefiting greatly. More Americans have health care than ever before. Prescription drug costs are down for many, with more progress promised.
And yet: so, so much work remains. One of the genuine heartbreaks during the Biden Administration was the failure of Congress to extend the expanded Child Tax Credit, which for a short time proved to be the most effective tool ever wielded in eradicating child poverty. After the expansion was allowed to lapse, child poverty roughly doubled, and hunger rose sharply in 2022. All types of care – child care, home care, family leave – remain underfunded or unavailable. Housing costs have gone up dramatically over the past few years, and now we are being reminded of the intersectionality of issues – one expert warns that “Medicaid unwinding” -- a process by which millions and millions are being kicked off the Medicaid rolls – could lead to coming waves of evictions.
In responding to President Biden’s aspirational speech, CHN Executive Director Deborah Weinstein writes, “[T]he speech was far more than a recounting of progress. It was also strongly about purpose: proposals to make lives easier and to invest in further growth. The proposals were based on a comprehensive look at drivers of economic insecurity for millions of Americans: high costs for food, health care, housing, care for children, people with disabilities and the aging, education, and junk fees and price gouging by banks and corporations.”
Upon reflection, one might conclude that two things are simultaneously true. Ample cause exists for celebration of what the Biden Administration and we, together, have accomplished these past three years. And there is much unfinished business and work that lies ahead.
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