- Well on our way toward our goal to helping people make it to the other side of the crisis and ensuring they were met by a robust recovery
- the pandemic was not the only problem, millions of people were running up against a series of long-term, structural economic challenges that undermine their ability to make a good living
- families is at the bottom and of the wage distribution have seen their pay stagnate
- Gender and racial pay gaps persist
- labor force participation has been dropping
- There’s a divergence among local economies, some areas that are growing more prosperous and others that are stagnating
- Climate change adds a fresh layer of crisis on top of this – the average cost of climate-related disasters is expected to double every five years
- The divergence in wages and of geographic regions, the decline in labor force participation, the rise of climate change, and the persistence of racial inequality – all these are combining to block tens of millions of Americans from the prosperous parts of our economy.
- Bidens budget addresses issues through a series of smart policies, including childcare and paid leave so more parents can join the workforce; a mass modernization – and greening – of America’s infrastructure to spur commerce and reduce emissions; an investment to make housing and education available to all.
The full text of her opening remarks can be found HERE.
This article was originally published by Forexlive.com. Read the original article here.