Biden Hails UAW Deal With Detroit's Big Three as Boon for US Economy
October 30, 2023
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0:57Now PlayingBiden Hails UAW Deal With Detroit's Big Three as Boon for US Economy
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as posted by the channelPresident Joe Biden lauded a tentative agreement between the United Auto Workers and all three of Detroit’s biggest automakers as a boost for the industry and the broader US economy.
“Today’s historic agreement is yet another piece of good economic news, showing something I’ve always believed: Worker power is critical to building an economy from the middle out and the bottom up, and so is economic growth,” Biden said Monday during an event at the White House.
Biden cited last week’s third-quarter gross domestic product report, which showed US economic growth accelerated to a 4.9% annualized rate, the fastest pace in nearly two years and more than double the second-quarter pace. The economy’s main growth engine — personal spending — jumped 4%, also the most since 2021.
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