CARLSBAD, Calif., Nov 4 (Reuters) – U.S. President Joe Biden, struggling to show calm voters that he has boosted the economy, touted his economic policies on Friday and said he plans to negotiate with oil companies as Democrats predict he will win. Although polls show that the Republican Party has won Tuesday’s midterm elections.
In a three-day, four-state campaign, Viasat Inc., a US communications company in Carlsbad, Calif., is looking to ramp up production of semiconductor chips and address supply chain issues. (VSAT.O) Biden stopped by. His presidency.
With some Republican support, Biden signed the Chips and Science Act in August to jumpstart domestic semiconductor production in response to slowing production of automobiles and high-tech products built by Viasat.
At ViaSat, Biden said the government’s latest jobs report showing the U.S. economy added 261,000 jobs last month was a sign of progress.
He said he is planning a “come to the Lord” discussion with US oil companies soon to complain about their record profits while Americans are paying higher prices at the pump.
The meeting has not yet been set, Biden clarified to reporters after the speech, and the White House made clear the president was serious only about forcing companies to change their behavior.
Biden has declared inflation his top priority, insisting he takes Americans’ economic concerns seriously as voters head to the polls on Tuesday to decide whether he and his Democrats win control of the US Congress.
[1/3] Viasat Inc., a technology company that will benefit from the passage of the CHIPS and SCIENCE Act, is welcomed by US President Joe Biden on November 4, 2022 in Carlsbad, California, US. Commented on CHIPS and the Science Act at REUTERS/Mike Blake
“Folks, our economy will continue to grow and add jobs even as gasoline prices continue to fall,” he said. “We also know that people are struggling from inflation.” But he said there were “bright spots” where the country could bounce back.
Projections show Republicans are poised to control the US House of Representatives and possibly even the Senate, giving them the power to block Biden’s legislative agenda for the next two years.
The party in the White House has historically lost control of Congress during the first half of a new president’s term.
However, Biden said he thinks Democrats can buck the trend this time. “We’re going to win this time. I feel pretty good about our chances,” he said, adding that Democrats have a good chance of winning the House of Representatives.
Biden’s campaign swing will conclude Saturday with a joint appearance in Philadelphia with former President Barack Obama.
Democrats’ electoral hopes have been hurt by voter concerns about high inflation, and Biden’s public approval has been below 50% for more than a year, most recently at 40% in a Reuters/Ipsos poll.
Biden warned that Republicans backed by former President Donald Trump are a threat to American democracy, which Democrats say is dangerous.
Reporting by Trevor Hunnicutt, Andrea Shalal and Steve Holland; Additional reporting by Daniel Trotta; Editing by Kim Coghill and Josie Cao
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