{"id":149990,"date":"2022-10-28T18:20:24","date_gmt":"2022-10-29T01:20:24","guid":{"rendered":"https:\/\/new.thepinetree.net\/?p=149990"},"modified":"2022-10-28T18:20:24","modified_gmt":"2022-10-29T01:20:24","slug":"president-biden-on-microns-plan-to-invest-in-chips-manufacturing","status":"publish","type":"post","link":"https:\/\/new.thepinetree.net\/?p=149990","title":{"rendered":"President Biden on Micron\u2019s Plan to Invest in Chips Manufacturing"},"content":{"rendered":"<p>Syracuse, New York&#8230;Well, thank you very much.  Hello, Syracuse!  (Applause.)  If you have a seat, take it.  If you don\u2019t, I\u2019d probably leave.  (Laughter.)  Shawni, thank you for that introduction and for representing your sisters and brothers of the IBEW.  One of the reasons I\u2019m standing here is because of the IBEW, not a joke.  They endorsed me early on and \u2014 along with, quite frankly, every other union in America \u2014 and we came along.<\/p>\n<p><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/Jb4WW1ykmFU\" title=\"President Biden Delivers Remarks on Micron's Plan to Invest in CHIPS Manufacturing\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>I made a promise and I\u2019m keeping it: I\u2019d be the most pro-union President in American history, and I\u2019m going to make sure that happens.  (Applause.)  Simple reason for that.  You know, the middle class built this country, and unions built the middle class. <\/p>\n<p>We used to say in the Senate, \u201cExcuse the point of personal privilege.\u201d  I\u2019d like to introduce some of my family and friends.  And I don\u2019t know where they are right now, but my \u2014 you know, I \u2014 I married a beautiful woman from Skaneateles Lake, who was at Syracuse.  I met her on Spring Break and fell head over heels in love with her and gave up a starting job on the football team at Delaware to come up every weekend because I couldn\u2019t stay away from her.  (Laughter.)<\/p>\n<p>And her \u2014 her brother, Michael, is here.  Where \u2014 where\u2019s the family?  There they are, back there.  (Applause.)  The Hunter family \u2014 the Hunter family is here.  Marren and Greg; and the children, Gillian and Gregory; and Nancy Hunter and her daughter Jess; my brother-in-law, Johnny\u2019s wife and daughter; and \u2014 as well as one of Beau\u2019s best buddies, Andy Groat \u2014 an old friend who\u2019s here. <\/p>\n<p>Excuse this \u2014 again, as we used to say in the Senate \u2014 \u201ca point of personal privilege.\u201d  (Laughter.)  But it\u2019s like coming home, man \u2014 coming home.  (Applause.)  Molly, and her brother Jimmy Crehan.<\/p>\n<p>And the president of Syracuse University and the dean of the law school, who \u2014 probably I wouldn\u2019t get in these days, although I went there on a scholarship.  (Laughter.)<\/p>\n<p>And Mayor Walsh \u2014 Ben, thank you. <\/p>\n<p>County Executive McMahon.  It\u2019s good \u2014 you know, it\u2019s good to be in a place that means so \u2014 so much to me and that means so much to our country with the project we\u2019re here to celebrate today.<\/p>\n<p>Governor Hochul, thank you for the passport into the state.  Appreciate it very, very much.  (Applause.)  You\u2019ve been a great partner to me and a great leader for this state.<\/p>\n<p>You saw an opportunity to attract more semiconductor supply chain businesses, and you \u2014 you signed a law to make New York even more welcoming.<\/p>\n<p>We were down in Poughkeepsie not long ago.  A little outfit called IBM is spending $20 billion investing in \u2014 in incredible jobs \u2014 attracting companies and creating jobs.<\/p>\n<p>A century ago, this region was the heartland of manufacturing.  And when I was up here as a law student, you had Kodak, Corning, General Electric.<\/p>\n<p>The governor has always believed it could be that way again.  She thought that would be the case, and the region is poised to lead the world in advanced manufacturing \u2014 not a joke \u2014 poised to lead the world.  (Applause.)<\/p>\n<p>And I also want to thank my buddy, Chuck Schumer, the Senate Majority Leader.  This guy gets things done.  (Applause.)<\/p>\n<p>And a close-to-hometown girl, a senator from Upstate New York, Kirsten Gillibrand.  She gets things done.  (Applause.)<\/p>\n<p>I learned a long time ago: When Kirsten calls and asks something, just get \u2014 just say yes.  (Laughter.)  Just do it right away, because you\u2019re going to do that anyway.  (Laughter.)  So, good being with you, kid.<\/p>\n<p>And, look, it\u2019s a hell of a delegation.  I think it\u2019s one of the best delegations in the country.  And Chuck is a great Majority Leader.  (Applause.)  Getting big things done.  We wouldn\u2019t be here today \u2014 it\u2019s not hyperbole \u2014 we would be here today without him.  And Kirsten\u2019s, as I said \u2014 hometown here in Upstate New York.  She\u2019s a fighter for the families in this area.  And you\u2019ll be hearing from all these folks in a minute.<\/p>\n<p>But Congressman John Katko \u2014 where\u2019s John?  Johnny?  (Applause.)  Stand up.  John is a Republican, and I like him a lot.  (Laughter.)  I like him a lot. <\/p>\n<p>John, when I \u2014 I\u2019ve been in the Congress for a long time.  And we used to have \u2014 this is how we used to be.  We used to work together like you\u2019ve worked together with me and with the delegation.  Thank you very much.  I\u2019m, quite frankly, a little sorry you\u2019re leaving.  And thanks for what you\u2019ve done.  (Applause.)    And thanks for the passport into your district.  I appreciate it.<\/p>\n<p>And thanks for reaching across the aisle to support the CHIPS and Science Act, which this guy wrote, right here.  We\u2019ll talk about that in a minute.  (Applause.) <\/p>\n<p>You know, and we also have one of the leading members of the United States Congress, Chair of the House Intelligence Committee, Adam Schiff.  He came all the way from California just to see Chuck.  (Applause.)  Where \u2014 where is he?  There he is.  Good to see you, Adam. <\/p>\n<p>Adam and I talk together a lot.  We can\u2019t share any secrets with the rest of you, but you know, we can \u2014 we can talk.  He\u2019s the only guy I can talk to.  (Laughter.)  I\u2019m only kidding. <\/p>\n<p>Folks, we\u2019re here to celebrate one of the most significant investments in American history.  Again, not hyperbole: one of the most significant investments in American history. <\/p>\n<p>And it\u2019s going to ensure that the future is Made in America.  (Applause.)  It\u2019s one of the bright spots around the country that should give us a sense of optimism and hope about who we are as a nation. <\/p>\n<p>And it\u2019s part of a broader story about an economy we\u2019re building \u2014 one that works for everyone \u2014 that positions America \u2014 put \u2014 America to win \u2014 a position to win the economic competition of the 21st century.  And, again, that\u2019s not an exaggeration.  It\u2019s literally an accurate statement.  <\/p>\n<p>We\u2019re joined today by the CEO of Micron to celebrate their commitment to invest $100 billion over the next 20 years \u2014 (applause) \u2014 here in America to build American factories and make semiconductors \u2014 those small, little computer chips that power everything in our everyday lives from our smartphones, to our automobiles, to washing machines, hospital equipment, you name it.  It\u2019s the largest American investment of its kind ever, ever, ever in our history.  Thank you very much, Boss.  (Applause.)<\/p>\n<p>They\u2019re going to build factories the size of \u2014 this is not hyperbole \u2014 the size of 40 football fields.  Big enough to fit the Carrier Dome four times inside it and still have space left over.  And we\u2019re going to \u2014 this is amazing what\u2019s \u2014 what\u2019s going to happen here.  You guys have no idea yet.  It\u2019s going to run \u2014 (laughter) \u2014 and it\u2019s going to run entirely on renewable energy.<\/p>\n<p>Nine thousand jobs \u2014 (applause) \u2014 from PhDs and engineers, HVAC technicians, machine operators with an average salary of $100,000 a year and tens of thousands more jobs across the supply train [chain].<\/p>\n<p>Twenty unions working together to fill jobs for technicians, construction workers, electricians, operating engineers.<\/p>\n<p>And, by the way, it\u2019s the largest investment in American history that is also governed by a project labor agreement.  (Applause.)  That\u2019s a fancy way of saying \u201cunion.\u201d  Union.  Not labor, union.  (Applause.)<\/p>\n<p>They ensure that the major projects are handled by well-trained, well-prepared contractors, sub-contractors, and highly skilled workers.  These agreements make the construction a top-notch project because they\u2019re the best folks to do it.  Their projects are on time, on task, and on budget.<\/p>\n<p>Back in February, I signed an executive order to make sure large federal construction projects use project labor agreements, and it means that Micron is using one here as well.<\/p>\n<p>Micron is also playing \u2014 paying a prevailing wage for funding apprenticeship programs so folks can get trained at places like this community college for one of the thousands of good-paying jobs in this new site.  And it really matters.  It matters a lot.<\/p>\n<p>America invested in these chips.  The federal in- \u2014 the federal investment helped reduce their cost, creating a market and an entire industry that\u2019s American led.   <\/p>\n<p>You know, that\u2019s how it all started.  Over \u2014 as a result, over 30 years ago, America had more than 30 percent of the global chip production.  Thirty percent. <\/p>\n<p>Then something happened, American manufacturing \u2014 the backbone of our economy \u2014 got hollowed out.  Companies moved jobs overseas from the industrial Midwest as well as from the Northeast and manufacturing towns like here in central New York and upstate New York. <\/p>\n<p>And as a result, today we\u2019re down to producing only around 10 percent of the world\u2019s chips.  We invented them, but only we\u2019re \u2014 we\u2019re producing only 10 percent despite leading the world in research and design of new chip \u2014 new chip technology as well.  It\u2019s here in the United States.<\/p>\n<p>But because of the new law I signed and Chuck designed and delivered, we\u2019re turning things way around \u2014 around in a very big way.<\/p>\n<p>When a \u2014 with Micron\u2019s $100 billion investment alone, we\u2019re going to increase America\u2019s share of global memory chips and production by 500 percent.  (Applause.)  <\/p>\n<p>The company Intel in Ohio and other companies, including foreign companies that are investing billions of dollars \u2014 billions of dollars across America to make these chips here.  And it matters to you all.  No matter where you live, it matters a great deal. <\/p>\n<p>Making these chips in America is going to help lower the costs for families looking to buy a car, to replace your washing machine, get a new cell phone.  It also helps companies outcompete the rest of the world.<\/p>\n<p>And I\u2019ve got \u2014 I heard from Xi Jinping that he\u2019s a little concerned about that.  (Laughter.)  No, I \u2014 I\u2019m not joking.  It\u2019s not \u2013 as I told him, it\u2019s not about conflict, it\u2019s about competition.  And we\u2019re back in the game.  We\u2019re competing again in a big way.  (Applause.) <\/p>\n<p>Think about it this way: IBM needs these chips to build the fastest quantum computers ever built in the world in Poughkeepsie, New York.<\/p>\n<p>Instead of relying on chips made overseas that could be delayed because of a pandemic or some other global supply chain issue, they can get their chips in a few hours \u2014 in a few hours.  It\u2019s a gamechanger.<\/p>\n<p>You know, where is it written \u2014 where is it written that the United States of America can\u2019t be the manufacturing capital of the world?  Think about this.  (Applause.)   No, I \u2014 I mean it sincerely.  Where in the hell is it written that says we cannot be \u2014 as we\u2019ve been hearing for the last 25 years \u2014 the manufacturing capital of the world? <\/p>\n<p>This country lost over 180,000 manufacturing jobs under the last guy that had this job.  We\u2019ve created 700,000 manufacturing jobs on my watch, adding manufacturing jobs at a faster rate than in 40 years.  (Applause.) <\/p>\n<p>The previous President made a string of broken promises in places like Wisconsin, Indiana, Ohio, where promised investments and jobs in manufacturing never materialized but layoffs and shuttered factories did materialize.  On my watch, we\u2019ve kept our commitments.  On my watch, \u201cMade in America\u201d is just a \u2014 it isn\u2019t just a slogan, it\u2019s a reality.  Made in America.  (Applause.)  <\/p>\n<p>Today\u2019s announcement is the latest example of my economic plan at work. <\/p>\n<p>I\u2019ve said from the beginning that my objective is to build an economy from the bottom \u2014 bottom up and the middle out. <\/p>\n<p>An economy that rewards work, not just wealth.<\/p>\n<p>An economy that works for everyone so the poor have a ladder up, the middle class can do better.  And when that happens, the wealthy do very well.  They don\u2019t get hurt at all.  They do very well. <\/p>\n<p>It\u2019s a fundamental shift, and it\u2019s working compared to what the very conservative Republicans are offering these days.<\/p>\n<p>Let\u2019s just take a look at the facts.  When I took office, the economy was in ruins.  My predecessor was the first President since Hebert Hoover \u2014 not a joke \u2014 to lose jobs in the entirety of his administration.  The first.  Unemployment, when I was sworn in, was at 6.4 percent.<\/p>\n<p>Hundreds of thousands of small businesses closed.  The irony is that, during the pandemic, the record number of Americans became, at the same time we lost all of these small companies, the \u2014 a record number of Americans became billionaires in the middle of this crisis while more than 9 million people were still out of work from the pandemic when I took office.<\/p>\n<p>Today, with the help of the people behind me, we\u2019re in a much better place.  Ten million jobs created since we took office \u2014 a record for any administration in American history.  (Applause.) <\/p>\n<p>Unemployment is at 3.5 percent \u2014 the lowest it\u2019s been in 50 years.  (Applause.)  5.4 million Americans applied to start new businesses \u2014 the highest level ever in American history.  And because of the actions we\u2019ve taken, gas prices are declining. We\u2019re down $1.25 since the peak this summer, and they\u2019ve been falling for the last three weeks at well \u2014 as well.  That\u2019s adding up to real savings for families.<\/p>\n<p>Today, the most common price of gas in America is $3.39 \u2014 down from over $5 when I took office.  (Applause.)<\/p>\n<p>We need to keep making that progress by having energy companies bring down the cost of a gallon of gas that reflects the cost they\u2019re paying for a barrel of oil.  There used to be a direct correlation: A barrel of oil goes down, the price at the pump goes down at the same time. <\/p>\n<p>If we\u2019re taking average profits they\u2019ve been making over the last 20 years instead of the historic profits they\u2019re making today, the price of gas would be down an additional 40 percent \u2014 40 cents today to $3 a gallon.<\/p>\n<p>And by the way, last quarter, the five largest oil companies made \u2014 in the last quarter \u2014 $70 billion in profit in 90 days.<\/p>\n<p>And Shell announced just this morning that it made $9.5 billion in profits in the third quarter: $9.5 billion.  That\u2019s more than twice of what they made in third quarter of last year.  And they raised their dividends as well, so the profits are going back to their shareholders instead of going to the pump and lowering the prices. <\/p>\n<p>Because if they charge the same amount as they were \u2014 as they\u2019re acting as they did a year and two years ago when the price of gas goes down, the price of oil \u2014 I mean, the price of oil goes down, the price of gas goes down.<\/p>\n<p>And even though my Republican friends in Congress seem to be hoping for a recession \u2014 many of them \u2014 present company excluded \u2014 (laughter) \u2014 today, the GDP results came out and the economy in fact is growing.<\/p>\n<p>In fact, the economy grew at 2.6 percent rate last quarter.  And although it may not feel like it for everyone, people\u2019s incomes went up last quarter more than inflation went up. <\/p>\n<p>And enough growth \u2014 (applause) \u2014 so economic growth is up; the price of inflation is down; real incomes are on \u2014 are up; and the price of gas is down.<\/p>\n<p>Folks continue to spend, but now at a more stable pace than during our rapid recovery last year.<\/p>\n<p>Businesses continue to invest in America.<\/p>\n<p>Exports are up, which means we\u2019re making things here in America and shipping the products overseas instead of shipping jobs overseas and sending them back here.  (Applause.)<\/p>\n<p>The supply chains are running more smoothly, helping companies build up inventories.<\/p>\n<p>Here\u2019s another thing.  My predecessor promised \u2014 and you heard it for four years \u2014 \u201cInfrastructure Week\u201d seemingly every week for four years, but it never got it done.  It became a punchline when he\u2019d talk about Infrastructure Week.<\/p>\n<p>Well, on my watch, we turned \u201cInfrastructure Week\u201d into the \u201cDecade of Infrastructure\u201d and a headline \u2014 (applause) \u2014 a once-in-a-generation investment in our nation\u2019s roads, highways, bridges, railroads, ports, airports, water systems, high-speed Internet.<\/p>\n<p>And the American people are seeing the benefits of this economy that works for them.<\/p>\n<p>Families have more net worth today than they did before the pandemic.  Fewer families are behind on their mortgages, their credit card bills than they were before the pandemic.<\/p>\n<p>More Americans\u2019 health insurance \u2014 more Americans have health insurance than before the pandemic.<\/p>\n<p>And we\u2019re doing everything we can to give folks just a bit \u2014 as my dad would say, just a little bit of breathing room.<\/p>\n<p>We\u2019re giving Medicare the power to negotiate lower drug prices.  (Applause.)  Folks, we\u2019ve been trying this for as long as I was in the Congress.<\/p>\n<p>We pay the highest price for prescription drugs of anywhere in the world.  And I\u2019m talking the exact same prescription made by the exact same drug company sold in the United States and sold in France \u2014 you can buy it probably 30 percent cheaper in France or Canada or around the world.<\/p>\n<p>Where is it written that that\u2019s okay?  Where does it say that\u2019s okay to do?<\/p>\n<p>We\u2019re capping seniors\u2019 out-of-pocket prescriptions starting next year \u2014 prescription drugs \u2014 and it\u2019s the law now \u2014 will not have to pay, if they\u2019re on Medicare, more than $2,000 a year for their prescriptions \u2014 (applause) \u2014 no matter how much they cost, even if their drug costs are $10-, $12-, $14,000 a year, like some cancer drugs do cost.<\/p>\n<p>And now, if Big Pharma tries to raise drug prices faster than inflation, they\u2019re going to have to write a check to Medicare to cover the difference, because there\u2019s no rationale for it, unless they can prove they engaged in additional research to improve the product.  If it\u2019s the same exact product, they cannot raise the price beyond the cost of inflation for that particular drug.  (Applause.)<\/p>\n<p>And by the way, put this in perspective: Last year, the price of 1,200 specific prescription drugs went up faster than inflation.  We\u2019re going to put a stop to that.<\/p>\n<p>From now on, if drug companies raise the price faster than inflation, they\u2019re going to have to rebate the money back to Medicare.<\/p>\n<p>We\u2019re also capping the cost of insulin for seniors on Medicare at $35 [a month] per prescription instead of the average $400 a month \u2014 (applause) \u2014 like some are paying now.<\/p>\n<p>We passed tax credits to help families buy energy-efficient appliances, put solar panels on their homes, help them buy an electric vehicle, weatherize their home \u2014 things that are going to save, it\u2019s estimated by the utility companies, an average of $500 a year for the families \u2014 and much more if they were to purchase a vehicle.<\/p>\n<p>Yesterday, we announced steps my administration is taking to get rid of unfair hidden fees, known as \u201cjunk fees,\u201d that are \u2014 that are proliferating, like surprise banking overdraft fees \u2014 an average of $35 for every overdraft; or credit card late fees \u2014 an average of $50; or if you get on a plane and you want your two-year-old child to sit next to you, you\u2019re going to find out you paid a hell of a lot more for your ticket when you land \u2014 before you land if you find yourself in a position \u2014<\/p>\n<p>And it goes on and on and on, all these hidden fees.  Well, guess what?  These can add up and make \u2014 taking the real money out of the pockets of ordinary Americans.<\/p>\n<p>That\u2019s on top of actions we took earlier this month to lower the cost of hearing aids, to make them available over the counter at places like Walgreens and Walmart.<\/p>\n<p>This is going to save, on average, $3,000 for a pair of hearing aids for millions of Americans with hearing loss.  Three thousand dollars.  (Applause.)<\/p>\n<p>I took action to ease the burden of student debt for millions of working- and middle-class families \u2014 the average sa- \u2014 the average income $70,000 a family \u2014 recovering from the pandemic.<\/p>\n<p>My friends on the right, Republic- \u2014 they crit- \u2014 they criticized the move.  But I\u2019m never going to apologize for helping working- and middle-class families as they recover from the pandemic \u2014 (applause) \u2014 especially not to those same folks who voted for a $2 trillion tax cut before I got in office to give away \u2014 that mainly benefitted wealthy Americans and the biggest corporations.  Not a penny of it paid for.<\/p>\n<p>And we\u2019re doing all this while reducing the deficit at the same time.  I don\u2019t want to hear about \u201cbig-spending Democrats\u201d creating the deficit. <\/p>\n<p>Let me give you the facts: The very deficit reduction the Republicans voted against when they opposed the Inflation Reduction Act, this year \u2014 this year the deficit, under our leadership, is falling by $1.4 trillion. (Applause.)  Let me say it again: This year alone, the deficit is down $1.4 trillion.<\/p>\n<p>And my first year in office, the deficit fell \u2014 one year \u2014 one year by $350 billion.<\/p>\n<p>Ladies and gentlemen, the largest ever one-year cut in American history on the deficit \u2014 cut the deficit in half.  As I said, this follows a historic drop of $350 billion last year. <\/p>\n<p>And we\u2019re going to reduce the deficit by another $250 billion over the next \u2014 the next decade.  Why?  A big part of that is because corporations are finally going to have to pay something: a 15 percent minimum tax.<\/p>\n<p>You know, in 2000 \u2014 (applause) \u2014 in the year 2000, 55 corporations made $40 billion.  \u201cGod love them,\u201d as my mother would say.  But they paid zero in federal tax.  Zero in federal tax.<\/p>\n<p>So, guess what?  The Inflation Reduction Act \u2014 we made sure they have to pay a minimum of 15 percent.  That\u2019s less than you guys pay as union members in your tax \u2014 that\u2019s less than school teachers, firefighters, cops pay.  But that 15 percent increase in the \u2014 a minimum tax is going to make sure we\u2019re in good shape for a long time here.<\/p>\n<p>That\u2019s all in stark contrast to Kevin McCarthy, the Republican Leader of the House of Representatives, and his fellow MAGA Republicans, who say their number-one priority is to do the following \u2014 and they\u2019ve said it publicly.<\/p>\n<p>By the way, if I had asked you \u2014 and we\u2019re just walking down the streets \u2014 and said, \u201cCan you tell what the Republican platform is \u2014 what they\u2019re for?\u201d  I\u2019m \u2014 I\u2019m not joking.  I\u2019m being deadly earnest.  Like I said, I\u2019ve been around a long time in public life.  Republicans used to always have platforms to say, \u201cThis is what we\u2019re for.\u201d<\/p>\n<p>Well, they can\u2019t tell you what they\u2019re for, but they\u2019ll make sure \u2014 they\u2019ll tell you what they\u2019re against.  They\u2019re going to give the power we just gave to Medicare to lower drug prices back to Big Pharma to raise prices instead. <\/p>\n<p>The cap on \u2014 the $2,000 cap on prescription drugs for seniors, gone if they \u2014 Kevin has his way \u2014 McCarthy.<\/p>\n<p>The $35-a-month cap on insulin for diabetes for seniors \u2014 gone.<\/p>\n<p>Savings on healthcare premiums \u2014 the $800 a year for literally millions of Americans under the Affordable Care Act \u2014 gone.<\/p>\n<p>And, of course, they\u2019re still determined to repeal the Affordable Care Act overall, which would mean that tens of millions of American with pre-existing conditions who can\u2019t otherwise get insurance will lose the \u2014 even that insurance because they have a pre-existing condition.<\/p>\n<p>Those protections are gone as well if the Republicans get their way \u2014 if Kevin gets his way and the Republican se- \u2013Congress: <\/p>\n<p>Tax credits to lower energy bills \u2014 gone. <\/p>\n<p>The corporate minimum tax \u2014 gone. <\/p>\n<p>Under the Republican plan, some big corporations are going to go back to paying zero again. <\/p>\n<p>That\u2019s the plan.  I would argue it\u2019s reckless and irresponsible, and it will make inflation worse if they succeed.<\/p>\n<p>And then they\u2019re coming after Social Security.  Now it sounds like, you know, \u201cWhat\u2019s \u2014 there\u2019s Biden.  That\u2019s a typical Democrat saying Republicans are after Social Security.\u201d  This is the one thing they\u2019ve said out loud.  (Laughter.)  They\u2019ve written it down on pieces of paper.  <\/p>\n<p>Senator Rick Scott, the Republican from Florida who\u2019s in charge of getting Republicans elected to the Senate, has a plan that\u2019s laid out, and you can look it up.  You can \u2014 as my \u2014 they used to say, \u201cYou can Google it.\u201d<\/p>\n<p>The plan that Congress will give \u2014 give Congress a chance to cut Social Security and Medicare every five years.  Every five years, it\u2019s going to be up on the ballot.  It either gets voted on or it gets lost \u2014 every five years.  It\u2019s no longer \u2014 there\u2019s no such thing as a permanent plan.  Every five years.  You\u2019ve been paying your Social Security since you were 16 years old, in your first paycheck. <\/p>\n<p>Senator Ron Johnson, the senator from Wisconsin, he thinks that\u2019s taking too long.  He wants it done every year.  Every year, Social Security and Medicare on the chopping block.  Every single year.  And now they put forward a real ticking timebomb for the country, and you\u2019re going to hear a lot more about it.<\/p>\n<p>Republican leadership in the Congress has said \u2014 they\u2019ve made it clear that if they don\u2019t get their way \u2014 if I don\u2019t vote to shut down \u2014 excuse me, if I don\u2019t vote to reduce Social Security and Medicare \u2014 if I don\u2019t support that, they\u2019re going to shut down the government, refuse to pay America\u2019s bills for the first time in American history to put America in default.<\/p>\n<p>Again, read this.  That\u2019s what they\u2019re saying.  Unless we yield to their demands to cut Social Security and Medicare, they\u2019re determined to cut Social Security and Medicare, and they\u2019re willing to take down the economy over it.<\/p>\n<p>There is nothing, nothing that will create more chaos or do more damage to the American economy than that happening, if it were to happen. <\/p>\n<p>Let me close with this: It\u2019s been a rough few years for a lot of people I grew up with \u2014 hardworking Americans.  For a lot of families, things are still tough.  But there\u2019s some bright spots out there where America is reasserting itself.<\/p>\n<p>I\u2019ve asked CEOs, including Micron and CEOs in many other countries, the following question \u2014 when I spoke to the Business Roundtable, spoke to the Chamber of Commerce \u2014 National Chamber of Commerce: When the United States government decides to invest considerable resources in a new industry that we need to build up for our national security and economic wellbeing, does that encourage or discourage companies from getting in the game?<\/p>\n<p>The overwhelming answer is it encourages them to get in the game.  Federal investment attracts private sector investment, particularly in those things we need badly. <\/p>\n<p>Our national security depends \u2014 depends on us having access to the most modern computer chips in the world.  It depends on it.  One of the things I\u2019ve been able to do, and I make no bones about it, because of \u2014 with Russia\u2019s activities, we have curtailed their ability to access some of this stuff.  And guess what?  They\u2019re not able to rebuild those devastating weapon systems to take out those civilians in Ukraine as well.  Not a joke.  It makes a big difference.  These things matter.  They matter a great deal.<\/p>\n<p>And it creates jobs, and it creates industries.  It demonstrates we\u2019re all in this together.  And that\u2019s what today is all about.  I\u2019ve never \u2014 and I mean it sincerely \u2014 I\u2019ve never been more optimistic in my life about America\u2019s future.  I mean it sincerely.  (Applause.) <\/p>\n<p>Not because I\u2019m President, but because we have entrepreneurs and people who know what they\u2019re doing to lead us through through an \u2014 in a completely different era in terms of the kinds of technologies we need, like this man right here. <\/p>\n<p>Because I look out at that the younger generation.  It\u2019s the best-educated generation, the least prejudiced, the most engaged, and the most least self-serving generation in American history.<\/p>\n<p>Look, I hope you feel \u2014 (applause) \u2014 I hope you feel what I feel standing here today: pride \u2014 pride in what we can do when we do it together to build a better America, providing our \u2014 proving that \u2014 to everyone \u2014 proving to the world that our best days are ahead of us. <\/p>\n<p>I know every major world leader because of the nature of my job.  And before that, when I was Vice President, that was my job.  And before that, I was chairman of the Foreign Relations Committee.  And guess what?  There\u2019s not a single nation in the world \u2014 a major nation \u2014 that wouldn\u2019t trade places with the President of the United States in a heartbeat.  Not a si- \u2014 no, not a joke.  Think about it.  Not a single, solitary one.  Not a single one. <\/p>\n<p>And I talk to these folks all the time and meet with them all the time, and they want to know are we going to be okay.  Because if we\u2019re doing well, they think they got a shot to do well too.  And I \u2014 that\u2019s not hyperbole.  That\u2019s a fact.  But we just have to keep it going.  And I know we can. <\/p>\n<p>We just have to remember, for God\u2019s sake, who we are.  We are the United States of America.  (Applause.)  There is nothing \u2014 there is nothing, nothing beyond our capacity.  And we\u2019re the only nation in the world that has come out of every crisis better than when we went into the crisis.  And, folks, we\u2019re going to do it again.<\/p>\n<p>God bless you all, and may God protect our troops. <\/p>\n<p>And now I want to invite my good friend, the great partner Majority Leader Chuck Schumer, to the podium \u2014 author of the CHIPS and Science Act and one of the major reasons we\u2019re standing here.<\/p>\n<p>Chuck, the podium is yours.  (Applause.)<\/p>\n<p>4:54 P.M. EDT<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Syracuse, New York&#8230;Well, thank you very much. Hello, Syracuse! (Applause.) If you have a seat, take it. If you don\u2019t, I\u2019d probably leave. (Laughter.) Shawni, thank you for that introduction and for representing your sisters and brothers of the IBEW. One of the reasons I\u2019m standing here is because of the IBEW, not a joke. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":149991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[20,5,1],"tags":[],"class_list":["post-149990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2022\/10\/Fullscreen-capture-10282022-61902-PM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/149990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=149990"}],"version-history":[{"count":1,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/149990\/revisions"}],"predecessor-version":[{"id":149992,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/149990\/revisions\/149992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/149991"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=149990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=149990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=149990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}