Joe Biden at DNC ahead of 'consequential' election: 'We're investing in all of America'

Oct. 24 (UPI) -- President Joe Biden extolled the political opportunity for his party in the upcoming midterm elections, touting accomplishments on the economy and healthcare costs in a speech Monday at Democratic National Committee headquarters in Washington.

"I can't think of a more consequential election," Biden said Monday. "So far we're running against the tide and we're beating the tide. It's going to shape the way this country looks like for the coming decade."

The state of the economy, job growth and Democrats' efforts on healthcare costs were among the topics Biden touted as the party's biggest accomplishments.

Biden has been stumping for Democratic candidates leading up to the Nov. 8 election, recently visiting his home state of Pennsylvania in support of Senate candidate John Fetterman. His messaging has been clear: These elections are crucial to the future of the United States.

The economy and inflation have been among the biggest hurdles for Democrats, particularly in the last six months. Biden said Republicans have been clear that their intentions are to raise costs and allow corporations to "go back to paying zero in federal taxes."

"We, the Democrats, are the ones that are fiscally responsible," Biden said. "We're investing in all of America. Reducing everyday costs while lowering the deficit at the same time."

The U.S. Department of the Treasury reported the national deficit has decreased by $1.38 trillion in 2022.

Biden said Democrats will continue to protect Social Security and Medicare against Republican efforts to cut them. House Minority Leader Kevin McCarthy, R-Calif., alluded to leaving Social Security and Medicare out of discussions about raising the debt ceiling last week. Rep. Nancy Mace, R-S.C., spoke Sunday about the plan as a way to cut spending.

Biden said the GOP will attempt to shut down the government and send the nation into default.

Biden compared his record to former President Donald Trump's term in office, when the national debt rose by about $8 trillion.

"We inherited a nation in crisis. A pandemic with no end; economy on the brink," he said. "Look at how far we've come. Twenty months ago, COVID ruled our lives. Today, infections are down 80% from the time we took office. Deaths are down 90%. We did it together."

The overturning of Roe vs. Wade in June created a galvanizing opportunity for Biden and Democrats, bringing something that was once a campaign warning to reality. The party has rallied around efforts to protect the right to abortion access while raising concern about what other rights could be on the table in the midterms. Biden said voters no longer need to imagine the stakes.

He did not rest solely on what has been done, but spoke about what is still to come. He leaned on the Inflation Reduction Act which capped out-of-pocket spending at $2,000 for people with Medicare prescription drug coverage. He wants to see this taken further, alleviating the effects of high drug costs. In August, Republicans voted down a bill to cap insulin costs, with only seven breaking from the party to vote in favor.

"Guess what. We're going to get it next time out," Biden said. "We are."

Midterm elections take place Tuesday, Nov. 8. There are 470 seats up for election, including 435 House seats and 35 Senate seats.