Scranton or Wall Street: President Biden is Building an Economy from the Middle Out and Bottom Up, Not the Top Down

FOR IMMEDIATE RELEASE: June 14, 2022
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SCRANTON OR WALL STREET: PRESIDENT BIDEN IS BUILDING AN ECONOMY FROM THE MIDDLE OUT AND BOTTOM UP, NOT THE TOP DOWN

President Biden’s plan to cut costs is fully paid for by ensuring the ultra wealthy and big corporations pay their fair share – while the MAGA agenda threatens to end Medicare, Social Security, Medicaid and more

WASHINGTON, D.C. — Today at the 29th AFL-CIO Quadrennial Convention, President Biden laid out his vision for an economy that works for working families – a vision that looks out from Scranton, his hometown, not down from Wall Street. The MAGA party has a different approach: one that caters to the top 1% and big corporations while hanging working families out to dry.

MAGA politicians have no plan to lower costs for families. They’re more focused on proposals that would raise taxes on most Americans, eliminate Affordable Care Act protections, and put Medicare, Social Security, and Medicaid on the chopping block every five years – a plan they doubled down on this week. President Biden believes this is the wrong approach; he’s fighting to build an economy from the middle out and the bottom up, not the top down.

Watch President Biden contrast his economic vision with the extreme MAGA agenda:

President Biden: “Republicans have it all backwards. Their plan literally calls for increasing taxes on middle class people and cutting taxes on corporations. And I’m not talking about punishing anyone. Just pay your fair share. It’s a matter of decency, it’s a matter of dignity, it’s a matter of fiscal responsibility…The fact is Republicans in Congress are still in the grip of the ultra MAGA agenda…They seem to think that the problem in America today is that working families aren’t paying enough.”

President Biden: “Republicans in Congress are doing everything they can to stop my plans to bring down costs for ordinary families. That’s why my plan is not finished, and why the results aren’t finished either…Here’s the deal. America still has a choice to make, a choice between a government by the few, for the few, or government for all of us, democracy for all of us, and an economy where all of us have a fair shot and a chance to earn our place in the economy.”

Meanwhile, just yesterday, Senator Lindsey Graham reaffirmed the dangers the MAGA agenda poses to critical programs like Social Security:

• Politico: “Lindsey’s pledge: If Republicans regain control of the Senate following the midterms, the current Senate Budget ranking member is laying the groundwork: ‘Entitlement reform is a must for us to not become Greece.’”

And Senator Rick Scott has doubled down on his plan that would threaten to end Social Security and Medicare every five years:

• Punchbowl News: “Sen. Rick Scott (R-Fla.), the NRSC chair, has a new ad up on the air – yes, he’s running TV ads – to boost his 11-point plan “to rescue America.”

• Washington Post: “Scott’s plan would also sunset — eliminate — all federal legislation over five years, under the (risky) assumption that worthy laws would be reenacted. That could mean an end to Social Security, Medicare, Medicaid, everything else mentioned above — and potentially more.”

• Miami Herald: “Florida seniors at risk of losing Social Security, Medicare under Scott’s harmful plan.”