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Biden highlights growing economic divide in US
TIWN
Biden highlights growing economic divide in US
PHOTO : TIWN

Washington, Jan 16 (TIWN) US President-elect Joe Biden has highlighted a growing economic divide between those few people "at the very top" and the rest of America, calling on further relief to provide financial assistance to those who need it the most.

"Just as we are in the midst of a dark winter of this pandemic as cases, hospitalizations, and deaths spike at record levels, there is real pain overwhelming the real economy," Xinhua news agency quoted Biden as saying in an address to the nation on Thursday night from Wilmington, Delaware.  However, "you won't see this pain if your score card is how things are going on Wall Street", the President-elect noted.  "You will see it very clearly if you examine what the twin crises of the pandemic and the sinking economy have laid bare: the growing divide between those few people at the very top who are doing quite well in this economy -- and the rest of America," Biden said. 

"Just since this pandemic began, the wealth of the top 1 percent has grown by roughly $1.5 trillion since the end of last year -- four times the amount for the entire bottom 50 per cent.  Noting that some 18 million Americans are still relying on unemployment insurance, and some 400,000 small businesses have permanently closed their doors, the President-elect said "a crisis of deep human suffering" is in plain sight.  Calling the recently approved 900-billion-dollar bipartisan relief package "an important first step", he said "we need more action, more bipartisanship, and we need to move fast."

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