president electron has said he wants to scale back -- elect trump has said he wants to scale back the u.s. presence in the middle east. the u.s. has about 2000 troops in iraq, about 900 in syria. they are there to counter isis. what impact do you think that will have, the more isolationist or america first agenda? >> we had three presidents in a row, all of whom have wanted to reduce our force posture overseas, focus here at home. at times when we have done that we saw the disastrous withdrawal from afghanistan. pres. biden: thanks for your patience. been a long day.

i would like to talk about the transformation of progress our economy has made over the past four years. this morning's jobs report showed the economy added 250,000 jobs in december. the unemployment rate was as low as 4.1%. all told, in your y -- in four years we created the most jobs of any presidential term in history. there was not a single month when the economy lost jobs, another record. last month, americans lost -- the last month americans lost jobs was the month i came to office. why did we make such progress? we fundamentally changed the economic policy of this country. after decades of trickle-down economics, kamala and our administration have written a new playbook that is growing the economy from the middle out and bottom up, that benefits

everyone. the new playbook is working, but in 10 days the new administration will begin. we will face another inflection point. do we continue to grow the economy from the middle out and bottom up, or do we backslide to an economic theory that benefits those at the very top while working and middle-class people struggle for their fair share of growth? four years ago, 3000 americans were dying per day because of the pandemic. millions of americans had lost their jobs and were at risk of losing their homes. hundreds of thousands of factories and businesses closed, creating despair all across america. supply chains were shattered. prices soared from everything from cars to home appliances. the previous administration had no real plan to get us through one of the toughest periods in

our nation's history. if the only tool is a hammer you have, everything looks like a nail. over the course of decades, the trickle-down leadership was a hammer and working people were in the nail. slashing taxes for the wealthy and biggest corporations, off shoring jobs for cheaper labor overseas while importing products that used to be made in america. advocates of trickle-down economics ripped the social safety net, trying to deny access to affordable health care and prescription drug costs. lifting the fortunes of the wealthy, often attacking the rights of workers. when we came to office with a different vision of america, in the first two months i was in office, i signed the american rescue plan. i put in arms and checks in pockets to vaccinate the nation and return us to full employment.

we followed up with long-term investments in our future. my investing in america agenda, which includes the bipartisan infrastructure law, the chips and science act, together marked the most significant investment in america since the new deal. the inflation reduction act alone is the most significant investment in climate and clean energy ever in the world. we make these investments. when we do, we buy american. it says that any money the president is authorized by congress to spend should be used on american workers and american products. the best administration -- past administration failed to use american workers, but not on our watch. we are modernizing roads, bridges, airports, clean water systems, affordable high-speed broadband systems and so much more. we have incentivized building

all these large projects with american products and american union labor. remember the shortage of semi conductors during the pandemic? those tiny little computer chips the size of your fingertip? the power -- they power our everyday lives from advanced weapons to your cell phones. americans and vintage -- americans invented these computer chips. when the pandemic hit, we found out how vulnerable america was. prices soared. it takes over 3000 of these computer chips to build an automobile today and went overseas factories making those chips shut down the production stopped in the cost of nuclear sword. did not have to be this way. i was determined to change that and that's what we have done

with the chips and science act which has attracted $350 billion, including for korea, taiwan and other countries. these investments are building new fabs, massive chip factories the size of several football fields. on fields all across america creating so far 125,000 jobs which ultimately creates tens of thousands more jobs. these jobs are paying over $100,000 a year and you don't need a college degree. these investments are creating opportunities for entire communities for small businesses to grade even more jobs. when they build these factories that will find out they will need trucks and shops and restaurants and everything grows. when faced with unfair practices

abroad we have taken tough but targeted action on behalf of american workers. we know the pandemic and russia's war against ukraine and the inflation they created caused pain and hardship across america and around the world. we took aggressive action and brought down prices. we reduced the price of gasoline at the pump in america and challenged the gas companies to take record profits and invest in more production and today american energy production is at record levels, including record oil and gas production. gas prices are three dollars a gallon, which is below the price before the invasion of ukraine. the inflation reduction act took on big pharma and reduce the price of insulins and $35 a month. the inflation reduction act also

finally gives medicare the power to negotiate lower drug prices across the board. as of this month, out-of-pocket prescription drug costs will be capped at $2000 a year no matter how expensive the drugs are. no senior will have to pay more than $2000 a year. these and other reforms not only save seniors money, it saves the american taxpayers money. $160 billion would be saved over the next decade because medicare will no longer have to pay the exorbitant prices that pharmaceutical companies have been charging. with our historic backing of unions, public support for unions is the highest it's been in more than half a century in the labor movement is expanding to new companies and industries. the middle out-bottom up

playbook is also about asking the very wealthy and most profitable corporations to begin to pay their fair share in taxes. my predecessor's tax cut the last time he was here not only increased the federal debt by $2 trillion but overwhelmingly benefit the biggest this benefit of the biggest corporations. you have heard me say it 100 times. we have over 1000 billionaires in america. they paid an average of 8.2% in federal taxes. look, my approach is leading to better results for everyone. i kept my commitment that no one earning less than $400,000 a year would pay a single penny more in federal taxes. i fought hard to expand the child tax credit for working families and cut child poverty nearly in half. i expanded tax credits to make health insurance more affordable

for millions of americans enrolled in the affordable care act. because of our policy, the confidence of entrepreneurs in our economy, we have seen 21 new billion -- 21 million new business applications filed during my presidency. it's important because every single one of those applications is an act of hope. there is so much more, but the bottom line is, we have come a long way from the crisis we inherited. let me close where i started. more than 250,000 jobs in december. in four years, the economy created 16.6 million new jobs, the most in any single presidential term. we have created jobs every single month i was in office. during my presidency, we saw the lowest average on employment

rate of any administration in the last 50 years, and battling through the worldwide effects of the pandemic, the war in ukraine and supply chain disruption, inflation ranges down to 2%. these are simple, well-established economic benchmarks, a measure of strength of any economy. i believe the economy i'm leaving is the best in the world and stronger than ever for all americans, so i think that's what we have. we will see what the next president does. thank you all, god bless you all. i'm happy to take some questions. >> you talked about gas prices coming down. you made today the decision about sanctions against russia. are you concerned that that decision will perhaps lead to gas prices going up and can you explain why those sanctions were imposed today and not earlier in the term? pres. biden: the sanctions were imposed today because they will have profound effects on the

growth of the russian economy, make it more difficult for putin to conduct his wars. it's probable that gas prices could increase as much as three cents or four cents a gallon, but it will have a more profound impact on russia's ability to continue the act and the waves acting -- act in the way it is acting. >> are you disappointed to not make that visit to the vatican before leaving office? pres. biden: truthfully i am disappointed but it was important i stayed here with everything going on. he understood that. we spoke with the apostolic delegate but i am disappointed. >> have you had any reaction to president trump's verdict today up in new york and whether you believe the punishment fit the crime? and on pardons, have you rolled out a pardon for yourself or any other additional members of the family? pres. biden: for myself? >> yes sir? pres. biden: what would i pardon myself for?

>> that's what i'm asking. pres. biden: i have not contemplated pardoning myself. i didn't do anything wrong. >> would you comment on the decision to end operations in the united states? was that a good decision in your opinion? pres. biden: look, the whole idea of walking away from fact checking as well as not reporting anything having to do with discrimination regarding dps, i find to be just contrary to american justice, american -- the way we talk about one another. tell them the truth matters. i mean, it's -- i know i'm on national television, but you are

local reporters and national reporters. this is not a real question but what do you think? you think it doesn't matter that they let it be printed where millions of people read it, things that are simply not true? i don't know what that's all about. it's just completely contrary to everything america is about. we want to tell the truth. we have not always done it as a nation but we want to tell the truth, and the idea that, you know, a billionaire could buy something and say, by the way, from this point on, we are not going to fact-check anything, and you know, when you have millions of people going online reading this stuff, it is -- anyway, i think it's really shameful. >> do you regret your decision to run for reelection? do you think that made it easier for your predecessor to become

your successor? pres. biden: i don't think so. i think i would have beaten trump, could have beaten trump, and i think that kamala could have beaten trump, would have beaten trump. it was not about -- i thought it was important to unify the party, and when the party was worried about whether or not i was going to be able to move, i thought, even though i thought i could win again, i thought it was better to unify the party and it was the greatest honor of my life to be president of the united states, but i did not want to be one who caused a party that wasn't unified to lose an election. that's why i stepped aside, but i was confident she could win. >> do you think she should run again? >> [indiscernible] pres. biden: well, i had a long talk with zelenskyy today.

and i think that as long as we continue to keep western europe united as it relates to ukraine that there's a chance that the ukrainians can prevail because the cost to russia is incredibly high, over 600,000 dead or wounded, the koreans they brought in our having high mortality rates as well -- in are having high mortality rates as well, and i made it clear that i provided every bit of funding with the authority i have as president to be able to do that now and i know that there are a significant number of democrats and republicans who think we should continue to support ukraine. it's my hope and expectation they will speak up and not agree

with the president if trump decides to cut off funding for ukraine. >> does the president-elect's position on the conflict influence your -- [indiscernible] pres. biden: the truth of the matter is, no, but if it hadn't, if those other conditions did not exist, it would have had an impact. i had already decided that -- putin is in tough shape right now and i think it's really important that he not have any breathing room to continue to do the god-awful things he's continuing to do, and as i said, he's got his own problems economically, significant problems economically, as well as politically, and so i decided to do everything i possibly could within my power and

authority to give ukraine every advantage it could have to be able to sustain support for an independent ukraine. >> you said vice president harris had a good shot to be trump. do you think she should run again in four years? pres. biden: i think she's competent to run again in four years. that would be a decision for her to make. >> on venezuela, are the sanctions -- on the sanctions your administration announced today, some say they do not go far enough by not targeting the petroleum sector. why was this administration hesitant? pres. biden: that's still being investigated in terms of what impact it would have and whether it would just be replaced by iran or any other country. it matters what would happen afterwards. i had a long discussion again with the man who should be appointed president on that score and but since i didn't have a clear answer to what that would be, if i had more time, i may very well do that, but

i didn't have enough data to make that judgment. >> if i could also ask about havana syndrome. today, the intelligence community assessment changed slightly, with two agencies saying there's an even chance this is being caused by a foreign adversary. do you think that? pres. biden: no. do i believe that isis's theology, if you will, has impacted people if you will, some, who are not well-suited to handle the life where they live. it has that effect, but i find no evidence -- i spent 17, 18 hours with the community right off the bat trying to determine whether or not there was any outside influence and, thus far, we find no connection between an outside player, individual, but

that does not mean someone reading the malarkey that's going out there is not influenced by it. both these men, both in nevada and in louisiana, have been men who have had their own problems, but not because they have been influenced by a specific individual. >> my question is on havana syndrome. the intelligence community today, part of their assessment changed, saying there's now an even chance that the havana syndrome cases and incidents, that there's a foreign actor potentially behind them. do you agree with that? pres. biden: i don't have a full brief on that right now. i'm not going to comment on that. >> do you have an update on austin tice in syria and whether or not he's -- pres. biden: the answer is i'm not going to respond to that because that's an ongoing issue. you know my attitude about getting prisoners released from abroad and i'm not going to

comment on that right now. >> one question on pardons and commutations. can you give us a sense of what of their pardons and commutations you are considering in your last 10 days? pres. biden: the answer is no because two things. one is that it depends on some of the language and expectations that trump broadcast in the last couple days here as to what he's going to do. the idea that he would punish people for not adhering to what he thinks should be policy related to his well-being is outrages but there's still consideration of some folks but

no decision. >> have you decided what kind of role you will have post-presidency, sir? do you plan to speak out after you leave washington or will you follow more of the bush model where you're kind of out of sight, out of mind? pres. biden: i will not be out of sight or out of mind. >> thank you, everyone. thank you. thank you. >> earlier today, the supreme cot ard oral argument in tiktok v garland and fir ebaugh v. garland. you can watch that tonight starting at 9:00 eastern on c-span, c-span now, our free mobile app, or online at

c-span.org. >> sharon mcmahon, host of the here is where it gets interesting podcast and author of the small and the mighty, is our guest sunday night on c-span's q&a. she profiles lesser-known americans who changed the course of american history, including retail pioneers richard sears and alvin roebuck, former slave in france opposed clara brown -- flava and philanthropist clara brown, and others. >> almost never, will they say jeff bezos right? almost never will they say some tv star. they will almost always say somebody that has impacted them in some important way and very often those people are not famous, they are not rich, they don't have daddy's money, don't have their name on the side of a