US President Biden prepares the ground to run again

Significance

Biden said “let’s just finish” throughout the speech, suggesting that his campaign for a second term will be built on the need to complete his agenda. This would require Democrats to win the House and hold the Senate in 2024 to break the current gridlock in Washington.

Impacts

• Former President Donald Trump, already running in 2024, will urge congressional Republicans to oppose Biden at every turn.
• Biden will spend more time on foreign affairs as legislative achievements become less likely.
• Biden sends his budget to Congress on March 9, after which he will press House Republicans to present their own budget choices.
• By politicising the idea of cuts to Social Security and Medicare, Biden has made reforming the programmes less likely.