United States President Joe Biden underscored the battered economy he inherited and the enduring psychological impact caused by the COVID-19 pandemic that shook the outlook of Americans.
During The Associated Press '30-minute Oval Office interview, Biden slammed Republican lawmakers' accusations that last year's COVID-19 relief package was entirely to blame for the country's 40-year-high inflation. He called their argument "bizarre."
"People are really, really down," Biden remarked of the general American mindset.
The president noted that the need for mental health care in the country "has skyrocketed" due to the dire situation brought by the COVID-19 pandemic.
"Everything they've counted on upset. But most of it's the consequence of what happened, what happened as a consequence of, the COVID crisis," Biden said.
Recession Is Not Inevitable
The economy has reflected this pessimism, with record gas prices and continuous inflation threatening Democrats' chances of retaining control of the House and Senate in the midterm elections.
Biden also answered experts' fears that battling inflation could push the US into recession, saying that "it's not inevitable."
"Secondly, we're in a stronger position than any nation in the world to overcome this inflation," he added.
Several economists predicted that the funds injected into the economy as part of the American Rescue Plan last year would cause inflation. Republicans have been ruthless in their attacks on Biden over the plan's price.
President Biden went defensive when asked about the causes of inflation. He said: "If it's my fault, why is it the case in every other major industrial country in the world that inflation is higher? You ask yourself that? I'm not being a wise guy,"
The president said he saw the reason for optimism with the 3.6 percent unemployment rate and America's relative strength in the world.
US Economy Is Still in Shape
Biden advised Americans to be optimistic about the US economy, per USA Today.
"Be confident because I am confident we're better positioned than any country in the world to own the second quarter of the 21st century. That's not hyperbole, that's a fact," President Biden noted.
Biden claims that during his administration, employment and salaries have increased, and people have less credit card debt, more funds in their bank accounts, and higher job satisfaction.
He also mentioned recent government deficit reductions. The decrease is primarily due to the termination of costly COVID-19 initiatives, such as enhanced unemployment insurance, as well as higher tax income from recent economic development.
PBS reported that Biden also highlighted some of the difficult decisions he's had to make, including standing up to Russian President Vladimir Putin for invading Ukraine in February, although harsh sanctions imposed as a result of the conflict have prompted gas prices to shoot up, posing a political risk for Biden in an election year.
He also urged oil corporations to consider the world's essential needs and boost output. Only 39% of Americans approve of Biden's job performance as president, according to a new USA TODAY/Suffolk poll. More than 7 out of 10 people (71%) believe the US is "on the wrong track."
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