President Joe Biden smiles during a U.S.-E.U. Summit led by European Commission President Ursula von der Leyen and European Council President Charles Michel, in the Cabinet Room of the White House on Friday. Photo by Al Drago/UPI | License Photo
Oct. 23 (UPI) — President Joe Biden will give a speech on the economy at the Eisenhower Executive Office Building in Washington, D.C., Monday afternoon, during which he is expected to tout the benefits of his administration’s initiatives, especially in terms of new clean-energy jobs.
While the White House did not give advance details of the speech, it did release an analysis by Heather Boushey, chief economist in the president’s Investing in America Cabinet, in which she analyzed so-called “Bidenomics” in relation to investments in clean energy and its impact on the current robust economy.
Bidenomics has become a shorthand term to describe the administration’s economic push that puts a foremost focus on middle-income benefits.
Boushey said growth in the clean energy sector has been “a key pillar” in Bidenomics and his economic plan to expand the economy “from the middle out and bottom up.”
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“Strong investment in clean power generation and supply is critical to meeting President Biden’s goals of building the clean energy economy with high-quality job opportunities for American workers and addressing the climate crisis,” Boushey said in the released statement.
“Since the start of the Biden-Harris administration, private companies have announced plans for about 94 [giga-watts] of new clean power generation projects, representing an estimated $133 billion in investment as of August 2023.”
Boushey said 21,000 jobs were added to the economy in power generation and supply from 2021 to 2023. She said it marked the sector’s highest hiring total in more than a decade.
“These job gains were driven by increased employment in electricity transmission and distribution and increased clean electric power generation,” Boushey said. “Between January 2021 and March 2023, the economy added 11,000 jobs in electric power transmission and distribution,8,000 jobs in solar power generation, 2,000 jobs in wind power, and 1,000 jobs in hydroelectric power.”
The president increasingly has stressed his economic plan as part of his officials duties and on the campaign trail, too. This past month, Biden used a similar economic speech in Maryland to contrast his economic views with that of MAGA Republicans.
