Outgoing US President Joe Biden on Tuesday slammed his successor Donald Trump’s economic plans as a “disaster” in a speech hailing his legacy in office.
Biden said Trump’s threat to impose heavy tariffs on imports was a “big mistake” and urged Republicans to abandon the proposed tax cuts.
The lame presidential speech came after Trump won a second term amid anger among US voters over the high cost of living under Democrats.
Biden referred to the conservative blueprint for a second in his speech at the Brookings Institution in Washington, saying, “I pray to God that the president-elect will kill Project 2025. I think it would be a disaster for us and the region.” There will be an economic disaster.” Trump administration.
Coughing repeatedly because of a cold, Biden said American consumers would pay the price for the tariffs Trump has vowed to impose on U.S. neighbors Mexico and Canada and Asia-Pacific rival China.
Together they are the three largest US trading partners.
“I believe this approach is a big mistake,” Biden said.
– Shadow President –
The White House had billed Biden’s speech as a “major address on his economic legacy” as the 82-year-old looks into the history books with less than six weeks left in his term.
Biden dropped out of the 2024 race against Trump in July due to concerns about his age and handed the torch to Vice President Kamala Harris, whom Trump handily defeated in the November elections.
Trump’s inauguration isn’t until Jan. 20, but he’s already become a shadow president, making pronouncements on the economy and foreign policy and being welcomed by world leaders.
Biden, meanwhile, has maintained a relatively low profile since the Nov. 5 election, but he came out in defense of his own record before an audience of economists.
He compared his “middle-out, bottom-up economic playbook” to Trump’s failed promise of “trickle-down economics”, in which tax cuts for the rich are expected to boost incomes across the board.
Biden also cited achievements including the US economy’s recovery from the Covid pandemic and its heavy investments in green technology and industry.
“President-elect Trump is inheriting the strongest economy in modern history, which is the envy of the world,” Biden said.
But the late president said he regretted not signing his name on the Covid stimulus checks sent to Americans, as Trump had done.
He said, “I also learned something from Donald Trump. He signed checks of Rs 7,400 for people.” “And I didn’t – idiot!”
Biden ended his speech with a broad plea for American leadership in a turbulent world, while Trump has repeatedly signaled his intention to take a more isolationist stance.
He said, “If we don’t lead the world, then which country leads the world? Who pulls Europe together? Who tries to pull the Middle East together?”
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
