President Joe Biden said on Tuesday that he regrets not putting his name on pandemic relief checks in 2021, something President-elect Donald Trump did during his first term.
What Did Biden Say?
Speaking at the Brookings Institution in Washington, D.C., Biden highlighted his economic achievements before bringing up the pandemic relief checks sent out by his administration in 2021.
"I signed the American Rescue Plan, the most significant economic recovery package in our history, and also learned something from Donald Trump," Biden said at the Washington-based think tank. "He signed checks for people for 7,400 bucks...and I didn't. Stupid."
Trump famously ensured that his name appeared on the checks issued as part of the coronavirus relief package, a first for any U.S. president to have their name appear on any IRS payments.
Biden's Economy
Biden's comments about the checks come as he seeks to solidify his legacy amid an economy showing signs of recovery. However, despite creating 16 million jobs, funding infrastructure projects and driving investments in renewable energy, it was not enough to overcome public exhaustion over inflation, which spiked in 2022 and left many households coping with elevated grocery, gasoline and housing costs.
In last month's elections, more than 6 in 10 voters described the economy as "poor" or "not so good," according to AP VoteCast, an extensive survey of the electorate.
The economic discontent played a significant role in Trump's return to the White House, where he will begin a second term after defeating Vice President Kamala Harris in the 2024 election.
Meanwhile, in Tuesday's speech, Biden argued Trump was inheriting a strong economy, pointing to low unemployment and easing inflation as the unemployment rate is a healthy 4.2 percent and applications to start new businesses are at record levels.
Biden called the numbers under his watch "a new set of benchmarks to measure against the next four years," adding, "President-elect Trump is receiving the strongest economy in modern history."
Looking Ahead
At the same time, Biden warned of potential economic pitfalls under Trump's leadership, criticizing proposed tax cuts and tariffs on foreign imports.
Treasury Secretary Janet Yellen echoed those concerns at a Wall Street Journal CEO summit, cautioning that broad tariffs could lead to price hikes for American consumers.
"I think the imposition of broad based tariffs, at least of the type that have been discussed, almost all economists agree this would raise prices on American consumers," Yellen said.
The president also took aim at Project 2025, a controversial policy framework from the Heritage Foundation, calling it a potential "economic disaster." While Trump has distanced himself from the initiative, its overlap with his stated policies has raised concerns among Democrats.
In a reflective moment, Biden urged Trump to keep the Democrats' momentum going and ignore the policies of his allies he views as harmful.
"I pray to God the president-elect throws away Project 2025. I think it would be an economic disaster," Biden said.
This article includes reporting from The Associated Press.
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