Biden announces his economic recovery plan: ‘We have the tools to fix it’

President Biden, when announcing his recovery plan for the economy on Wednesday, said, “We’re in a national emergency. We need to act like we’re in a national emergency.”

Video Transcript

PRESIDENT JOE BIDEN: A lot of America's hurting. The virus is surging. We're 400,000 dead, expected to reach well over 600,000.

Families are going hungry. People are at risk of being evicted. Job losses are mounting again.

We need to act. No matter how you look at it, we need to act. If, if we act now, our economy will be stronger in both the short and long run.

That's what economists left, right, and center are telling us-- both liberal and conservative-- we'll be better and stronger across the board. If we act now, we'll be better able to compete with the world. If we act now, we'll be better able to meet our moral obligations to one another as Americans.

I don't believe the people of this country just want to stand by and watch their friends, or their neighbors, co-workers, fellow Americans go hungry, lose their homes, or lose their sense of dignity and hope and respect. I don't believe that. Especially in the middle of a pandemic that's so weakened and wreaked so much havoc and caused so much pain on America. That's not who we are.

The bottom line is this-- we're in a national emergency. We need to act like we're in a national emergency. So we've got to move, with everything we've got, and we've got to do it together. I don't believe Democrats or Republicans are going hungry and losing jobs, I believe Americans are going hungry and losing their jobs.

We have the tools to fix it. We have the tools to get through this. We have the tools to get this virus under control and our economy back on track. And we have the tools to help people. So let's use the tools, all of them-- use them now.