According to the Labor Department, nonfarm unemployment fell to 7.5 percent last month and nonfarm payrolls increased by 165,000 jobs. Biden painted a bright picture for U.S. as it competes with China’s economy.
“American workers, American entrepreneurs, American companies are more innovative, more imaginative than any country in the world including in China. How many times have you heard graduation speeches down here of someone standing up and saying, ‘since the mid-nineties, China produces six times as many engineers as we have.’ They do,” Biden told the crowd.
“Name me one product that they brought to the international market. Name me one innovative change they made. Why? Because in order to innovate, you have to challenge orthodoxy. You have to challenge what went before and you can’t do that in a country that doesn’t allow you to breathe free and speak openly.”
Blessing himself, Biden joked about the “fiscal cliff” agreement he negotiated with Senate Republicans earlier this year.
“I always have to be the bearer of bad news because I’m always asked at the end to negotiate these fiscal cliff deals,” Biden said.
“Well, the last one wasn’t a bad deal.”
The former Delaware senator praised the deal for raising taxes on the wealthy, which he claimed would lower the nation’s deficit by $600 billion.
He added that the tax hikes were not “a punishment.”