America is back to work. The number of Americans forced to rely on unemployment insurance programs for support has fallen to its lowest level in more than 52 years. When I took office, there were nearly 20 million Americans on unemployment insurance to feed their families and keep a roof over their heads. Today, that number is around 1.3 million. Millions of families are moving from government support to a salary.
Today, the percentage of people receiving unemployment insurance has fallen below 1% for the first time since 1969. This historic progress is the result of my economic plan to grow the economy from the bottom up.
Today, the fight against inflation is my main economic priority. My plan to fight inflation is to reduce the costs families face and reduce the federal deficit, and we are making progress every day. The federal budget deficit has already shrunk by $1.5 trillion this year, and I have proposed a plan to reduce it even further by ensuring that big business and the wealthy pay their fair share of taxes. Congressional Republicans have a different approach — their plan would raise taxes on working families and jeopardize programs like Social Security, Medicare, Medicaid and the Affordable Care Act.