As his presidency nears its conclusion, Joe Biden has been reflecting on his economic strategies, including a choice he now regrets—opting not to sign the stimulus checks sent to Americans during the COVID-19 pandemic. Speaking at the Brookings Institution, Biden suggested that this decision may have influenced public perception of his administration’s efforts to revive the economy.
Reflecting on Missed Opportunities in Relief Like Stimulus Check
In the early months of his term, Biden enacted the $1.9 trillion American Rescue Plan to support Americans through the pandemic. However, unlike his predecessor Donald Trump, who personally signed stimulus checks during his presidency, Biden took a less visible approach. Trump’s move drew criticism as a political tactic, but anecdotal evidence suggests it left an impression on voters. Reflecting on this, Biden admitted, “I didn’t—stupid.”
Despite delivering significant economic achievements, including job growth and inflation control, Biden’s administration faced criticism over high consumer prices. Many voters cited increased costs of essentials like fuel and groceries as key concerns. Biden attributed these challenges to lingering pandemic effects and global issues, such as Russia’s invasion of Ukraine, while defending his administration’s ability to achieve a soft landing for the economy.
Looking ahead, Biden cautioned against what he termed a return to “trickle-down economics” under the incoming administration, referencing plans to extend tax cuts for corporations and the wealthy. He argued that his policies proved more effective in creating a resilient economy and warned of potential setbacks if past strategies were reinstated. As he prepares to leave office, Biden expressed pride in the foundation his administration built, while acknowledging that some missed opportunities, such as his decision on stimulus checks, might have influenced his legacy.
