President Joe Biden expressed his regret at not putting his name on stimulus checks handed out to Americans in 2021, which aimed to ease the stress that the pandemic placed upon many households.
On Tuesday, Biden admitted that it was "stupid" of him to not have done so when his predecessor, President-elect Donald Trump, had done exactly that in 2020 and has since received credit for the stimulus checks that were distributed under his administration.
Biden revealed this regret while addressing the Brookings Institution in Washington, delivering remarks which largely focused on defending his own economic policy and imploring the incoming president to prioritize ideals of democracy when he assumes office, according to AP News.
"I signed the American Rescue Plan, the most significant economic recovery package in our history, and also learned something from Donald Trump," Biden said in the speech. "He signed checks for people for 7,400 bucks ... and I didn't. Stupid."
Trump's name appearing on stimulus checks in 2020 marks the first time the name of a U.S. president has been included in an IRS payment.
Even though President Biden and Vice President Kamala Harris were able add about 16 million jobs to the economy, many American households fixated on inflation, noting how the steep price increases that began in 2022 precluded many households from affording necessities, such as groceries, as reported by AP.
In his speech, Biden stated that Trump was inheriting a strong economy. He stated that inflation was able to decline without triggering a recession and that the unemployment rate was at 4.2%.
Biden added that the economic achievements he accomplished under his term were "a new set of benchmarks to measure against the next four years."
"President-elect Trump is receiving the strongest economy in modern history," Biden said in the speech.
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