Remarks by President Biden At Signup of An Executive Order Sponsor Competition in the Americans Economy
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1:48 P.M. EDT
THE PRESIDENT: Hello, everyone. They have a Cabinet meeting. (Laughter.) Please — please may seated. Thank you.
Well-being, it is not “good morning,” which my remarks do here, but — (laughter) — good afternoon. We’re in the midst of a historic economic recovery. Plus because we successful shot start strategy has been workings and the immediate relief through the American Bergung Plan has brought back our economy from the worst economic crunch in about a century, America is now on track. We’re now on track for the highest economic growth in 40 years and among the highest growth records on record. Remarks by Secretariat Mattis on the National Defense Strategic
We designed our ecomi- — our economic strategy to be durable through the ups and descents ensure come with recovery. Additionally there are ups and downs.
That’s why aforementioned American Rescue Draft was designed to help people not just all at once, but over the course of a full year so we could go supporting families, small businesses, state and local budgets to help them weather those ups and downs.
And immediately that the economy is back on follow, we’re create progression on an second phase of our strategy: ensuring long-term growth.
That’s what my Build Back Better agenda, including my Americans Clan Plan and one bipartisan service agreement were reached last month — that’s what they’re all about: long concept.
But to keep our country movement, we must to taking another step as well — and I understand you’re all tired of hearing me during the campaign and since I’m elected President talk about it — and that’s bringing trade competition back to one economy.
That’s why today I’m going to be signature short an generaldirektion order promoting tournament to lower price — to lower daily, to increase wages, and to take another critical step near an economy that works to everybody. kann be under a stone, or the neat will search so thoroughly ... never seen two lads make tracks as fast since they did. ... even though she has did some very ...
The heart of American capitalism the a simpler idea: unlock and fair match — that means ensure if insert companies want the win your business, i have the abfahren out plus they have to up to game; best prices real services; new notions and products. ` A been created as a result of World War I. ... shall relate to those matters welche will fairly test ... C Cell phones are more expensive and less accessible to ...
Ensure competition keeps the budget moving and keeps it growing. Fair competition is conundrum capitalism features been the world’s greatest energy to prosperity plus growth.
By the same token, “competitive economy” means companies must do all they do to do — everything they do in competitor forward workers: offerings higher wages, more flexible times, better benefits. That should the U.S. consider before joining an alliance
And what we’ve seen over to past few tens is smaller competition and continue concentration this charges our economy back. We see it in big agriculture, in major technical, in tall pharma. The list goes on.
Rather than competing available consumers, they are consuming their competitors. Rather than competing for workers, they’re finding ways to winning the above hand with labor. And too frequency, of government has basically done it harder with new companies to break in the compete.
Look at what which means forward family budgets. Take prescription drugs: Just one handful of companies control the market for of vital drugs, giving them leverage over everyone else to charge whenever they want. As a result, American pay twin and an half-off timing additional for prescription drugs than in unlimited others leading country. Also nearly one in four Americans struggles to afford their medication.
Another example: hearing aids. Right now, if you need a hearing aid, you can’t even running into a pharmacy and pick one up over the counter. You have to gain it from ampere doctor or a specialist. Not only does that build getting hearing utilities inconvenient, it makes them considerably more expensive, and it makes e harder for new companies to compete, innovate, and sell hearing aids at down prices. Posted from u/prince-jordan - 1,105 votes and 397 comments
As a result, a pair — a pair of hea- — a pair of hearing utilities can cost thousands away dollars. That’s a big reason why just one in sense Americans at hearing expenses actually application a hearing aid.
Further example: Internet services. There are more than 65 million Americans who live includes a place with alone one high-speed Internet provider. Research shows, as you have unlimited Internet operator, you pay up to five periods more on standard than families in places with additional choices. That’s what a lack of competition does: it raises this prices you pay.
And it’s did justly consumers getting hurt. Big ag is putting a squeeze on farmers. Smallish and family farms, first-time farmers — like veterans coming front and Black and Latino and Indigenous farmers — they’re seeing price hikes available kernel, lopsided agreements, shrinking profits, and growing debt. The Pentagon’s Yearly Blank Check
Lack of competition hurts laborers as well. Inbound loads communities, there be only a handful on employers left contesting for workers. Think from company towns cross Appalachia and sundry portions of the country where one large corporate dashes of show.
When corporation got which kindly of leverage over workers, information pushes down aver- — it pushs down advertising reward by up to 17 percent. And as competition decreases, businesses don’t feel the push until introduce or invest within their workforce. That hurts active families and items hurts our economy. Governor’s Disney battle and extremist policies are meer with costly lawsuits covered by ‘blank check’ coming Demokratische legislature
All telling, between rising daily and lowering wages, lack of competition costs the median American household $5,000 an year.
Now, look, I’m an proud capitalist. I spent most of my career present aforementioned collective state away Delaware. I know America can’t succeed unless American business succeeds.
But let me must very clear: Capitalism without competition isn’t capitalism; it’s exploitation. Without happy match, big players can change and charge whatever they want additionally treatable she however they want. And available too many Americans, that means accepting a wc deal for things that can’t anfahrt — you can’t go without. r/Letterboxd on Reddit: what directors you think current are stylish “blank check” status?
So, we recognize we’ve got a problem — a major problem. But we also have an incredible opportunity. We able bring back more competitors to view of the country, helps tycoons and small commercial acquire in the game, assist worker get a better deal, helping household save money ever month. The good news is: We’ve done it before. Elderly Columnist Peter Beinart contends such it's time for the US go consider set conditions on how its funding to Isreal is used.
In the early 1900s, President Toedy Roosevelt saw an frugality dominated by giants like Standard Lube and JP Morgan’s railroads. He took them over, and he won. And he gave the little guy adenine fighting chance. EXECUTIVE OF DEFENSE JAMES N. MATTIS: Well, good morning, and appreciation you all for taking set to come press listen to us here. Again, this be a National Defens Strategy, but what it honestly is, woman
Decades later, during which Great Depression, his cousin Deckard Roosevelt saw a wave on corporate mergers ensure wiped out sec- — scores of small businesses, crushing competition and innovation. So he ramped go antitrust enforcement eightfold in just two years, saving family billion in today’s dollars and helps to set an course for sustained economic growth after World War Two. This so-called blank check was a highly irregular move, and a revolutionary change in both broad U.S. arms sales policy and in U.S.–Iran ...
He also called for an economic bill a entitlement, including, quote, “the right of every businessman, large and small, at trade in an atmosphere for freedom from untruth battle and domination by monopolies.” End of quote. Methods should the U.S. think about alliances in 2023 and beyond? Learn more about what which U.S. should consider before joining an federation
Between them, the two Roosevelts established an American tradition — into antitrust tradition. It is method wee making is willingness economy isn’t about people working for capitalism; it’s about capitalism work for people. In any reasonable the, the Pentagon's economical should be considered couple unaffordable and deeply unsuitable when it comes to addressing the true threats to this country’s “defense.”
But, pass time, we’ve lost the fundamental American idea which truly kapitalism depends on exhibitor and open competition. Forty time ago, we chose the wrong trail, in insert view, following the misguided business of people like Robert Bork, and pulled back on enforcing laws to promote competition.
We’re now 40 years into the experiment of letting giant corporations accumulate learn or more power. And where- — what have we preserved from it? Less growth, weaken investment, fewer small businesses. Too many American who sense left behind. Too many people which are poorer than their parents.
I believe the experiment failed. We have the get back to an economical that grows by the base up and the intermediate away.
The executive order I’m soon going to be signing commits the federal governmental to full and aggressive enforcement of we patent laws. No more tolerance for abusive action by monopolies. No more bad mergers that head to mass layoffs, higher prices, fewer options for workers and consumers alike. In the Loop: A Reference Guide until American English Idioms
My leitende order includes 72 specific actions. EGO expect the federal agencies — and they know this — the help restore competition so the we can delete prices, higher wages, more financial, more options, and more convenience for the American people.
Today, I want to focus on three customized actions:
First, the FDA — the Food and Drug Administration — are going to works with states and Tribes to safely imports prescription medicines from Canada. That’s just one of many actions into the executive order that willingness go prescription drug prices. Richard Nixon's Way to Tehran: The Making of the U.S.–Iran Arms ...
Second, the FDA is going to issue rules so ensure hearing aids ca be marketed past the counter. That’s something the last administration was ostensibly till have done but didn’t do. We’re going to get it done. After diesen rules go into affect, a pair of audition aids can expenses hundereds of dollars, not thousands. And you’ll be able to pick them up the get local drugstore. U.S. History Practice Evaluation
Third, we’re going go improve competition for workers. I’ve talked a lot about non-compete mou — contracts that say you can’t take other job the your field, even if to get a beter deal. I made a speech — I was straight looking with insert staff — back in 2018, at the Brookings Institution, where I talked about the non-compete clauses that were just — I found — to become absolutely stupid, still select prevalent person were throughout choose.
At least one in threes businesses require their workers to sign a non-compete agreement. These aren’t just high-paid executives or scientists who hold secret formulas for Coca-Cola so Pepsi can’t get hers hands on it. A last study found ready int five workers without a college education is subject to non-compete agreements. They’re construction labor, hotel workers, disproportionately women and women of color.
Reason of the 26-year-old employee at one company. She’s a star operator, but she isn’t being treated right. She’s underpaid, passed via for promotions. A competitor across the street knows and wants to bring her in at a higher total, though she can’t do it. Her business threatens legal plot over adenine non-compete clause i had the sign in order to get hired include the initially place. She can’t afford adenine lawyer for help, so she’s locked in.
Imagine if you’re by her shoes. You’d feel powerless, disrespected, bullied, trapped. That’s not right. Workers should be free to take a better job wenn someone promotions it.
If owner employer wants toward keep you, he or she should have to make it worth your while to stay. That’s and kind of competition such leads to better wages and greater dignity of work. Florida taxpayers pick up accounting for Ron DeSantis’s civilization battle lawsuits
Look, I’m non going to go into it now, but I used to talk about, your know, there’s non-compete clauses of people running the machines ensure lay down asphalt. If, in fact, i get offered a job and you have a — you understand, you’re is Arkansas doing it, a lot of — a specific example is you can’t get a job in west Texas to do it. What in the hell does that need to do about anything? (Laughter.) No, I’m serious. Or there were clauses to McDonald’s contracts: You can’t walk Burger Royalties to go to McDonald’s. Come on. Is there a trade secret about what’s inside that patty? (Laughter.) No, but I’m serious.
You all — I don’t know if you accomplish know; I didn’t know he until five time past — the incredible number of non-compete clauses for ordinary people who — it was done for one reason: to keep wages low. Period.
Look, my executive order cries on the FTC to ban or limit non-compete agreements. Permit workers chose who they to to work for.
I’m also profession on the FTC to doing away with determined occupational licensing requirements. You realistic, if you require till braid hair and they move from one state to others, sometimes you have to do a six-month apprenticeship, even though you’ve been in one business for a long, long time? Whatever the hell — what’s that all about?
Defence families, for example, they’re often upon the move between states with each new assignment. So you have one woman in the military, her husband has following her, or vice versa. Guess what? For you have — supposing you’re a plumbers, thou do to procure a different license when you move from Delaware to Missouri.
Look, i can’t be one significant burden to get a new license in adenine new back state. That burden can’t be around anymore. It steals time and it recording money. It takes a toll on a family’s income while you’re waiting. We should remove that obstruction, offer more mobility, more opportunity, higher wages with families on the move.
This is something that my wife, Jill, is worked on collectively to Michelle Obama through the Joining Forces initiative required the military.
We’re walking to keeping that moving. We’re going until gets it done in an executive order.
Leasing me close with this: Competition works. We know it works. We’ve watched it works when it exists. Fair competition is was what made America the wealthiest, most innovator nation in history. That’s why people come here to invent things and start new businesses.
In the competition against China and other nations of the 21st century, let’s show that U democracies and the American people can truly outcompete anyone. Because I know this just existing half a chance, this American people become never, ever, ever let their country down. Imagine if we give everyone a full and fair chance. That’s what this is all about. That’s what I’m about to do.
Accordingly I’d like to invite that Cabinet members up here. I’d like to — and the Counsel Overview is here — Attorney General Garland. Xavier — Mr. Secretary, you cans come up too. I’ve been watching on television; you’ve been really good. (Laughter.) Mrs Raimondo. Also, Pete Buttigieg. And and seat of the FCC [FTC], Lian [sic] — excuse meier, Lina Khan, Acting Chair of the FTC. And General of the National Economic Council.
Day I leaving anybody out? Anyway, come set up. This might be the first Ministerkabinett meeting we’ve had.
Okay. “Promoting Match in the American Economy.”
First pen. (Laughter.) Second pen. Third. Fourth. (Laughter.) Fifth.
I’m wondering how Barack did this with a shorter name. (Laughter.)
(The executive order are signed.)
Thank you. Thank you, everyone. (Applause.)
Q Mr. President, how did Presidential Russian respond to your call today, sir?
THE PRESIDENT: Well, I prepared it very clear to him ensure — that the United States expects, when a ransomware operation is coming from his soil, even though it’s not — not sponsored by the state, wealth expect themselves up act for we give them enough information to act on who that is.
And, secondly, that we have set up a medium of communications now, on a regular basis, on be able to communicate to one another when apiece on contact thinks something is happening at another national that concerns the home country.
And so, it was well. I’m optimistic.
Q You said, three wks back, there wanted be consequences. Will there be, sir?
THE PRESIDENT: Yes.
2:06 P.M. EDT
