Economist Brian Wesbury discusses the total cost of the Biden administration’s student loan handout on ‘Varney & Co.’
Letter from President Biden: 1/15/2025
Four years ago, we stood in a winter of peril and a winter of possibilities. We were in the grip of the worst pandemic in a century, the worst economic crisis since the Great Depression, and the worst attack on our democracy since the Civil War. But we came together as Americans, and we braved through it. We emerged stronger, more prosperous, and more secure.
Today, we have the strongest economy in the world and have created a record 16.6 million new jobs. Wages are up. Inflation continues to come down. The racial wealth gap is the lowest it’s been in 20 years. We’re rebuilding our entire nation—urban, suburban, rural, and Tribal communities. Manufacturing is coming back to America. We’re leading the world again in science and innovation, including the semiconductor industry. And we finally beat Big Pharma to lower the cost of prescription drugs for seniors. More people have health insurance today in America than ever before. I signed one of the most significant laws helping millions of veterans and their families who were exposed to toxic materials, as well as the most significant climate law ever and the first major gun safety law in nearly 30 years. Today, the violent crime rate is at a 50-year low.
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WASHINGTON, DC – APRIL 30: U.S. President Joe Biden departs the White House on April 30, 2024 in Washington, DC. Biden is traveling to Delaware for a campaign event. (Photo by Kevin Dietsch/Getty Images) ( Kevin Dietsch/Getty Images / Getty Images)
I ran for president because I believed that the soul of America was at stake. The very nature of who we are was at stake. And, that’s still the case. America is an idea stronger than any army and larger than any ocean. It’s the most powerful idea in the history of the world. That idea is that we are all created equal, endowed by our Creator with certain unalienable rights, among them life, liberty, and the pursuit of happiness. We’ve never fully lived up to this sacred idea, but we’ve never walked away from it either. And I do not believe the American people will walk away from it now.
Vice President Harris and I asked our staff to prepare a detailed summary of the progress we’ve made together throughout the last four years. Below, I’m sharing our record with you. I hope you’ll do your part to build on the progress we’ve made.
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WASHINGTON, DC – JANUARY 09: US Vice President Kamala Harris speaks to the media on the federal response to the Los Angeles wildfires at the White House on January 09, 2025 in Washington, DC. The wildfires in the Los Angeles area have killed at least (Tasos Katopodis/Getty Images / Getty Images)
It has been the privilege of my life to serve this nation for over 50 years. Nowhere else on Earth could a kid with a stutter from modest beginnings in Scranton, Pennsylvania, and Claymont, Delaware, one day sit behind the Resolute Desk in the Oval Office as President of the United States. I have given my heart and my soul to our nation. And I have been blessed a million times in return with the love and support of the American people.
President Joe Biden and his wife Jill Biden watch a military pass in review ceremony on the East Front of the Capitol at the conclusion of the inauguration ceremonies, in Washington, Wednesday, Jan. 20, 2021. (AP Photo/J. Scott Applewhite)
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History is in your hands. The power is in your hands. The idea of America lies in your hands. We just have to keep the faith and remember who we are. We are the United States of America, and there is simply nothing beyond our capacity when we do it together.
Thank you.
Joseph R. Biden
