President Biden made the case for his $1.75 trillion social agenda package, calling the economic framework "historic" during remarks from the White House.
"After months of tough and thoughtful negotiations I think we have an historic — I know we have an historic economic framework. It's a framework that will create millions of jobs, grow the economy, invest in our nation and our people, turn the climate crisis into an opportunity, put us on a path not only to compete but to win the economic competition for the 21st century against China and every other major country in the world," the President said.
Biden noted that the framework is not only "fully paid for" but also "17 Nobel prize winners in economics said it will lower the inflationary pressures on the economy. Over the next 10 years, it will not add to the deficit at all. It will actually reduce the deficit, according to the economists."
The President also explained how the current framework is a result of significant compromise.
"I want to thank my colleagues in the Congress for their leadership. We spent hours and hours over months and months working on this. No one got everything they wanted, including me, but that's what compromise is. That's consensus. And that's what I ran on," he said.
"I've long said compromise and consensus are the only way to get big things done in a democracy, important things done for country. I know it's hard. I know how deeply feel feel about the things they fight for. But this framework includes historic investments in our nation and in our people," Biden explained.