ICYMI: Fortune: "Biden's State of the Union–and the stories people from across the country are telling us–make the case for economic optimism"

In his State of the Union address, President Biden outlined his economic plan: "Investing in places and people that have been forgotten. … That's why we're building an economy where no one is left behind. Jobs are coming back, pride is coming back because of choices we made in the last several years. … A blue-collar blueprint to rebuild America and make a real difference in your lives at home."

Today, an opinion article in Fortune detailed the real-life impact of the President's policies on working families. Stories from Americans "show just how transformative and significant these policies are. For instance, Americans have already saved thousands of dollars on health care costs, including through a $35 cap on insulin costs for Medicare beneficiaries. That's life-changing for people like Robin, a senior who still works part-time because she's been paying for insulin priced at $1,800 a month."

We need to finish the job, but Americans are feeling increasingly optimistic. Today, we learned consumer sentiment reached a 13-month high after more than half a million jobs were created in January and annual inflation fell for the sixth straight month.

Read full story below:

Fortune (Commentary): Biden's State of the Union–and the stories people from across the country are telling us–make the case for economic optimism
[Sage Warner, 2/10/23]

President Biden's State of the Union address outlined the progress the U.S. has made on a multitude of fronts over the past two years. The president highlighted major economic legislation that he has signed into law to rebuild America's crumbling infrastructure, boost domestic manufacturing and adoption of clean energy technologies, and lower costs for working families' major expenses, like prescription drugs, health care, and utilities.

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The timeline of policy implementation for new programs can range from months to years, so communities may not always experience benefits right away. Though the president recognized the current realities of economic hardship, Biden gave a preview of an economic hope that is bound to grow as investments begin to transform American lives. As these policies go into effect, more economic success stories will emerge.

The stories that real people volunteer to the Center for American Progress show just how transformative and significant these policies are. For instance, Americans have already saved thousands of dollars on health care costs, including through a $35 cap on insulin costs for Medicare beneficiaries. That's life-changing for people like Robin, a senior who still works part-time because she's been paying for insulin priced at $1,800 a month. Others, like Bernetha, who began forgoing prescriptions for her chronic illness because she couldn't afford them, are eagerly anticipating other policy successes that are yet to go into effect–such as the $2,000 out-of-pocket maximum for Medicare beneficiaries' prescription drug spending. Thanks to those savings, she will not only be able to fill her prescriptions, but also start her overdue retirement.

Investments in America's infrastructure have given municipalities tools to modernize and expand economic opportunities. In Chickasaw Nation land, Oklahoma, Kandie's internet bill dropped from $100 to $24 a month because of Biden's internet affordability program. Meanwhile, in Cochise County, Arizona, Mignonne's organization opened a new telehealth hub for rural community members because fiber optic cables connected the facility to the wider broadband grid.

America's investment[s] in clean energy aim to create 1 million new jobs in the U.S.–and some experts predict that the actual number could be significantly higher. It's brought hope to people like Jacob, a third-generation boilermaker in Arizona. He sees the new Southwest regional hydrogen hub being built as the best avenue for boilermakers to transfer their skills, strengthen union membership, and predicts 240 new boilermakers will be hired there because of the president's plan.

President Biden has presided over a successful series of legislative accomplishments in an economy that is doing well by the numbers. The unemployment rate is the lowest it's been in 54 years–since 1969. Americans have created more small businesses in the last two years than in any two-year span on record. Annual inflation is down six months in a row. These numbers mean more when people can feel the effects in their everyday lives. While not all Americans are familiar with Biden's agenda now, it will significantly transform their lives in the coming years.