State of the Union Address – Notable Excerpts

I found President Biden’s State of the Union Address last night (March 7, 2024) to contain some noteworthy comments.  While I could comment extensively on many parts of the speech, for now I will indicate excerpts that I found most relevant with regard to the economic situation, and may comment upon them at a future point.  I am highlighting these excerpts for many reasons; it should be noted that I do not necessarily agree with any or all of them.

Here are the excerpts I found most relevant, in the order they occurred in the speech:

I inherited an economy that was on the brink. Now our economy is the envy of the world! 

15 million new jobs in just three years – that’s a record! 

Unemployment at 50-year lows. 

A record 16 million Americans are starting small businesses and each one is an act of hope. 

With historic job growth and small business growth for Black, Hispanic, and Asian-Americans. 

800,000 new manufacturing jobs in America and counting. 

More people have health insurance today than ever before. 

The racial wealth gap is the smallest it’s been in 20 years. 

Wages keep going up and inflation keeps coming down! 

Inflation has dropped from 9% to 3% – the lowest in the world! 

And trending lower. 

And now instead of importing foreign products and exporting American jobs, we’re exporting American products and creating American jobs – right here in America where they belong! 
And the American people are beginning to feel it. 

Consumer studies show consumer confidence is soaring. 

Buy American has been the law of the land since the 1930s.   

Past administrations including my predecessor failed to Buy American. 

Not any more. 

On my watch, federal projects like helping to build American roads bridges and highways will be made with American products built by American workers creating good-paying American jobs! 

Thanks to my Chips and Science Act the United States is investing more in research and development than ever before. 

During the pandemic a shortage of semiconductor chips drove up prices for everything from cell phones to automobiles.  

Well instead of having to import semiconductor chips, which America invented I might add, private companies are now investing billions of dollars to build new chip factories here in America! 

Creating tens of thousands of jobs many of them paying over $100,000 a year and don’t require a college degree. 

In fact my policies have attracted $650 Billion of private sector investments in clean energy and advanced manufacturing creating tens of thousands of jobs here in America! 

Thanks to our Bipartisan Infrastructure Law, 46,000 new projects have been announced across your communities – modernizing our roads and bridges, ports and airports, and public transit systems. 


I’ve been delivering real results in a fiscally responsible way. 

I’ve already cut the federal deficit by over one trillion dollars. 

I signed a bipartisan budget deal that will cut another trillion dollars over the next decade. 

And now it’s my goal to cut the federal deficit $3 trillion more by making big corporations and the very wealthy finally pay their fair share.  



The Special Note summarizes my overall thoughts about our economic situation

SPX at 5157.36 as this post is written