Business Maverick: Biden Assails Putin, Pledges Inflation Fight in State of Union

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Vladimir Putin “badly miscalculated” with his invasion of Ukraine, President Joe Biden said in his first State of the Union address on Tuesday, calling the Russian leader a “dictator” and warning that the war will leave his country weaker.

In a show of solidarity with Ukraine, Biden asked the audience for his speech to stand. Many lawmakers and guests held Ukrainian flags. Ukraine’s ambassador to the U.S., Oksana Markarova, was present and Biden also announced that the U.S. will close its airspace to Russian airlines, following the lead of more than a dozen European countries.

Though the war in Ukraine forced the White House to recast Biden’s speech, he spent less than 10 minutes discussing the conflict and Putin before turning to the issue Americans care most about: the economic hardships of the pandemic. “It’s time for Americans to get back to work and fill our great downtowns again,” he said. “People working from home can feel safe to begin to return to the office.”

The president outlined a new economic plan to replace an earlier proposal, “Build Back Better,” that was rejected by Republicans and a key Senate Democrat, West Virginia’s Joe Manchin. The measures in his rebranded plan are aimed at two issues at the front of mind for most Americans: rising consumer prices and the still-lingering pandemic.But the re-branded agenda includes few new offerings, raising immediate questions about whether it can gain traction in Congress.

“One way to fight inflation is to drive down wages and make Americans poorer,” Biden said. “I think I have a better idea to fight inflation. Lower your costs, not your wages.”

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