![]() ![]() Small and family farms, first-time farmers - like veterans coming home and Black and Latino and Indigenous farmers - they’re seeing price hikes for seed, lopsided contracts, shrinking profits, and growing debt. That’s what a lack of competition does: it raises the prices you pay.Īnd it’s not just consumers getting hurt. Research shows, when you have unlimited Internet operation, you pay up to five times more on average than families in places with more choices. There are more than 65 million Americans who live in a place with only one high-speed Internet provider. That’s a big reason why just one in seven Americans with hearing loss actually use a hearing aid.Īnother example: Internet services. Not only does that make getting hearing aids inconvenient, it makes them considerably more expensive, and it makes it harder for new companies to compete, innovate, and sell hearing aids at lower prices.Īs a result, a pair - a pair of hea- a pair of hearing aids can cost thousands of dollars. You have to get it from a doctor or a specialist. Right now, if you need a hearing aid, you can’t just walk into a pharmacy and pick one up over the counter. And nearly one in four Americans struggles to afford their medication.Īnother example: hearing aids. As a result, Americans pay two and a half times more for prescription drugs than in any other leading country. Take prescription drugs: Just a handful of companies control the market for many vital medicines, giving them leverage over everyone else to charge whatever they want. Look at what that means for family budgets. And too often, the government has actually made it harder for new companies to break in and compete. Rather than competing for workers, they’re finding ways to gain the upper hand on labor. ![]() Rather than competing for consumers, they are consuming their competitors. We see it in big agriculture, in big tech, in big pharma. Fair competition is why capitalism has been the world’s greatest force for prosperity and growth.īy the same token, “competitive economy” means companies must do all they do to do - everything they do to compete for workers: offering higher wages, more flexible hours, better benefits.īut what we’ve seen over the past few decades is less competition and more concentration that holds our economy back. That competition keeps the economy moving and keeps it growing. The heart of American capitalism is a simple idea: open and fair competition - that means that if your companies want to win your business, they have to go out and they have to up their game better prices and services new ideas and products. That’s why today I’m going to be signing shortly an executive order promoting competition to lower price - to lower prices, to increase wages, and to take another critical step toward an economy that works for everybody. That’s what my Build Back Better agenda, including my Americans Family Plan and the bipartisan infrastructure agreement we reached last month - that’s what they’re all about: long term.īut to keep our country moving, we have to take another step as well - and I know you’re all tired of hearing me during the campaign and since I’m elected President talk about it - and that’s bringing fair competition back to the economy. That’s why the American Rescue Plan was designed to help people not just all at once, but over the course of a full year so we could continue supporting families, small businesses, state and local budgets to help them weather those ups and downs.Īnd now that the economy is back on track, we’re making progress on the second phase of our strategy: ensuring long-term growth. We designed our ecomi- our economic strategy to be durable through the ups and downs that come with recovery. We’re now on track for the highest economic growth in 40 years and among the highest growth records on record. And because our successful vaccination program strategy has been working and the immediate relief through the American Rescue Plan has brought back our economy from the worst economic crisis in nearly a century, America is now on track. We’re in the midst of a historic economic recovery. Well, it is not “good morning,” which my remarks say here, but - (laughter) - good afternoon. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””. ![]()
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