In a recent address, President Biden outlined his administration's commitment to reducing the cost of living for American families, emphasizing a stark contrast between his economic plans and those of former President Donald Trump. Biden highlighted that while inflation has decreased and wages have risen, everyday prices remain too high for many citizens. He criticized Trump’s business record, claiming that Trump’s past financial failures undermine his credibility as a businessman.

Biden asserted that his \"common sense plan\" aims to lower costs across essential areas such as prescription drugs, groceries, and housing. He pointed to independent economists, including Nobel laureates, who have analyzed both his and Trump's economic proposals, concluding that Biden's plan would reduce costs and strengthen the economy, while Trump's agenda could lead to increased inflation and a potential recession.

A significant point of contention was Trump's proposed 20% national sales tax on basic necessities, which Biden argued would cost the average family nearly $4,000 annually. In contrast, Biden promised to combat corporate price gouging and provide tax cuts for middle-class families, including substantial support for children in their first year of life.

Biden also addressed healthcare, vowing to protect the Affordable Care Act and ensure that healthcare remains accessible, particularly for those with pre-existing conditions. He criticized Trump for plans that could dismantle Medicare and Social Security, warning that such actions could jeopardize the financial security of seniors.

The president concluded by reaffirming his dedication to supporting small businesses, reducing healthcare costs, and ensuring that all Americans have access to essential services, framing his administration's efforts as a direct response to the needs of the middle class.