“Historic Record of Success”
America’s so-called “left behind” counties — the once-great manufacturing centers and other distressed places that struggled mightily at the start of this century — have staged a remarkable comeback. Those counties span the nation but are largely concentrated in the Southeast and Midwest. In the last three years, they added jobs and new businesses at their fastest pace since Bill Clinton was president.
Biden said: “We have an historic record of success to run on.” He cited his administration’s creation of more than 15 million jobs, leading to historic unemployment lows; revitalization of American manufacturing; expansion of affordable health care; rebuilding the country’s infrastructure; lowering the cost of prescription drugs; providing student debt relief; and making a historic investment in combating climate change.
“This is the kind of thing that we couldn’t have even dreamed about five or six years ago,” said John Lettieri, the president of the Economic Innovation Group, a think tank that studies economic distress in the U.S. His group is releasing a report today that details the recovery of left-behind counties.
From 2016 to 2019—mostly during Trump’s administration—those rural left-behind counties, which make up about 18% of the U.S. population, added 10,000 jobs. In 2023 alone, they added 104,000.
The other big news today was that the U.S. added 206,000 jobs in June, bringing the total number of jobs created under this administration to 15.7 million. Last month’s numbers were, once again, higher than economists expected and, according to economic analyst Steven Rattner, above job growth levels before the pandemic. He added that these jobs are not simply a bounceback from the depths of the pandemic: 6.2 million more Americans are employed now than before Covid hit.
Treasury Secretary Janet Yellen announced that the Internal Revenue Service (IRS) had collected more than $1 billion in overdue tax bills from millionaires. That crackdown was possible thanks to the Inflation Reduction Act, which funded an initiative to pursue high-income, high-wealth individuals who have an income of more than $1 million and owe more than $250,000 to the IRS.
“Biden has now done what Trump never will: He has placed the national interest above his own pride and ambition.”