Good afternoon. Yesterday, we had an election, and it was a good day for democracy and America. Our democracy has been tested in recent years, but the American people have spoken with their votes, proving once again that democracy is who we are. States across the country saw record voter turnout, and the heart and soul of our democracy—the voters, poll workers, and election officials—did their job without much interference. This is a testament to the American people.
While we don’t know all the results yet, here’s what we do know. Despite predictions of a giant red wave, it didn’t happen. I felt optimistic throughout the process, and it turns out we did fine. While any seat lost is painful, Democrats had a strong night. We lost fewer seats in the House of Representatives than any Democratic President’s first midterm election in the last 40 years, and we had the best midterms for governors since 1986.
Voters spoke clearly about their concerns, particularly about rising costs and the need to get inflation down. They also sent a clear message that they want to preserve our democracy and protect the right to choose in this country. I especially want to thank the young people of this nation who voted in historic numbers again, just as they did two years ago. They voted to continue addressing the climate crisis, gun violence, their personal rights and freedoms, and student debt relief.
Last night, I was pleased to call Maxwell Frost, the 25-year-old who got elected to the United States Congress. I told him that I was the second-youngest person ever elected to the United States Senate at 29 and that I have no doubt he’s off to an incredible start in what will be a long, distinguished career.
The voters were also clear that they’re still frustrated. I understand it’s been a tough few years for many people. When I came to office, we inherited a nation with a pandemic raging and an economy that was reeling. We acted quickly to vaccinate the country and create stable and sustained growth in our economy. We made long-term investments to rebuild America’s infrastructure, including roads, bridges, ports, airports, clean water systems, and high-speed Internet.
We’re just getting started. The impact of these investments will become clearer in the coming months. I’m optimistic about how the public will embrace what we’ve done. Historic investments are leading companies to invest hundreds of billions of dollars to build semiconductor factories and other advanced manufacturing in America, creating tens of thousands of good-paying jobs. Many of these jobs will pay an average of $126,000, and you don’t need a college degree to get them.
We’re dealing with global inflation due to the pandemic and Putin’s war in Ukraine, but we’re handling it better than most other advanced nations. We’re lowering gas prices and taking on powerful interests to lower prescription drug costs, health insurance premiums, and energy bills. After 20 months of hard work, the pandemic no longer controls our lives. Our economic policies have created a record 10 million new jobs since I came into office, and the unemployment rate is down to 3.7 percent, near a 50-year low. We’ve also lowered the federal deficit by $1.7 trillion in two years, the largest reduction ever.
Reducing the federal deficit is one of the best things we can do to lower inflation. While we’ve made real progress, I know it’s hard for folks to see that progress in their everyday lives. It takes time to see the results of our actions, but I believe we took the right steps for the country and the American people. An overwhelming majority of Americans support the elements of my economic agenda, from rebuilding infrastructure to lowering prescription drug costs to tackling the climate crisis.
I’m confident these policies are working, and we need to stick with them. As these initiatives take hold, people across the country will see the positive effects on their day-to-day lives. I understand why people are hurting right now, but I’m going to continue to work across the aisle to deliver for the American people. We’ve signed over 210 bipartisan laws since I’ve become President, revitalizing American manufacturing, improving gun safety, and positively impacting our veterans.
Regardless of the final tally in these elections, I’m prepared to work with my Republican colleagues. The American people expect Republicans to work with me as well. In foreign policy, I hope we’ll continue the bipartisan approach of confronting Russia’s aggression in Ukraine. When I return from the G20 meetings in Indonesia, I’ll invite leaders of both political parties to the White House to discuss how we can work together to advance the economic and national security priorities of the United States.
I’m open to any good ideas, but I won’t support any Republican proposal that will make inflation worse. I won’t walk away from our commitments to tackle the climate crisis or support tax cuts for the super-wealthy and biggest corporations. I’ll continue to focus on cost-cutting for working- and middle-class families and building an economy from the bottom up and the middle out.
I’m committed to ensuring that no one earning less than $400,000 a year will see their federal taxes go up. I won’t support any proposal to cut or make fundamental changes to Social Security and Medicare. I will veto any attempt to pass a national ban on abortion. I’m ready to compromise with Republicans where it makes sense, but I’ll always put the needs and interests of the American people first.
The American people made it clear that they don’t want constant political battles. The future of America is too promising to be trapped in endless political warfare. We need to look to the future, not fixate on the past. I’m optimistic about America’s prospects. We’re the only nation that comes out of every crisis stronger than we went in. I’ve never been more optimistic about America’s future, especially because of the young people who are the best-educated, least prejudiced, most engaged, and most involved generation in American history.
After a long campaign season, I still believe this is a great nation, and we’re a great people. It’s never been a good bet to bet against America. There’s nothing beyond our capacity if we work together. We just need to remember who we are: the United States of America. There’s nothing beyond our capacity, and I’m convinced we’re going to get a lot done.
Source: Associated Press, CBS
