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Tonight, I can announce that the United States has worked with 30 other countries to release 60 Million barrels of oil from reserves around the world.
America will lead that effort, releasing 30 Million barrels from our own Strategic Petroleum Reserve. And we stand ready to do more if necessary, unified with our allies.
These steps will help blunt gas prices here at home. And I know the news about what’s happening can seem alarming.
But I want you to know that we are going to be okay.
When the history of this era is written Putin’s war on Ukraine will have left Russia weaker and the rest of the world stronger.
While it shouldn’t have taken something so terrible for people around the world to see what’s at stake now everyone sees it clearly.
We see the unity among leaders of nations and a more unified Europe a more unified West. And we see unity among the people who are gathering in cities in large crowds around the world even in Russia to demonstrate their support for Ukraine.
In the battle between democracy and autocracy, democracies are rising to the moment, and the world is clearly choosing the side of peace and security.
This is a real test. It’s going to take time. So let us continue to draw inspiration from the iron will of the Ukrainian people.
To our fellow Ukrainian Americans who forge a deep bond that connects our two nations we stand with you.
Putin may circle Kyiv with tanks, but he will never gain the hearts and souls of the Ukrainian people.
He will never extinguish their love of freedom. He will never weaken the resolve of the free world.
We meet tonight in an America that has lived through two of the hardest years this nation has ever faced.
The pandemic has been punishing.
And so many families are living paycheck to paycheck, struggling to keep up with the rising cost of food, gas, housing, and so much more.
I understand.
I remember when my Dad had to leave our home in Scranton, Pennsylvania to find work. I grew up in a family where if the price of food went up, you felt it.
That’s why one of the first things I did as President was fight to pass the American Rescue Plan.
Because people were hurting. We needed to act, and we did.
Few pieces of legislation have done more in a critical moment in our history to lift us out of crisis.
It fueled our efforts to vaccinate the nation and combat COVID-19. It delivered immediate economic relief for tens of millions of Americans.
Helped put food on their table, keep a roof over their heads, and cut the cost of health insurance.
And as my Dad used to say, it gave people a little breathing room.
And unlike the $2 Trillion tax cut passed in the previous administration that benefitted the top 1% of Americans, the American Rescue Plan helped working people—and left no one behind.
And it worked. It created jobs. Lots of jobs.
In fact—our economy created over 6.5 Million new jobs just last year, more jobs created in one year
than ever before in the history of America.
Our economy grew at a rate of 5.7% last year, the strongest growth in nearly 40 years, the first step in bringing fundamental change to an economy that hasn’t worked for the working people of this nation for too long.
For the past 40 years we were told that if we gave tax breaks to those at the very top, the benefits would trickle down to everyone else.
But that trickle-down theory led to weaker economic growth, lower wages, bigger deficits, and the widest gap between those at the top and everyone else in nearly a century.
Vice President Harris and I ran for office with a new economic vision for America.
Invest in America. Educate Americans. Grow the workforce. Build the economy from the bottom up
and the middle out, not from the top down.
Because we know that when the middle class grows, the poor have a ladder up and the wealthy do very well.
America used to have the best roads, bridges, and airports on Earth.
Now our infrastructure is ranked 13th in the world.
We won’t be able to compete for the jobs of the 21st Century if we don’t fix that.
That’s why it was so important to pass the Bipartisan Infrastructure Law—the most sweeping investment to rebuild America in history.
This was a bipartisan effort, and I want to thank the members of both parties who worked to make it happen.
We’re done talking about infrastructure weeks.
We’re going to have an infrastructure decade.
It is going to transform America and put us on a path to win the economic competition of the 21st Century that we face with the rest of the world—particularly with China.
As I’ve told Xi Jinping, it is never a good bet to bet against the American people.
We’ll create good jobs for millions of Americans, modernizing roads, airports, ports, and waterways all across America.
And we’ll do it all to withstand the devastating effects of the climate crisis and promote environmental justice.
We’ll build a national network of 500,000 electric vehicle charging stations, begin to replace poisonous lead pipes—so every child—and every American—has clean water to drink at home and at school, provide affordable high-speed internet for every American—urban, suburban, rural, and tribal communities.
4,000 projects have already been announced.
And tonight, I’m announcing that this year we will start fixing over 65,000 miles of highway and 1,500 bridges in disrepair.
When we use taxpayer dollars to rebuild America – we are going to Buy American: buy American products to support American jobs.
The federal government spends about $600 Billion a year to keep the country safe and secure.
There’s been a law on the books for almost a century
to make sure taxpayers’ dollars support American jobs and businesses.