Biden: We have to 'restore the basic bargain' of middle class

Vice President Joe BidenJoe Biden Sanders: China had done more to address extreme poverty 'than any country in the history of civilization' 'Medicare Advantage for All' New Hampshire Journalist: When will the media start treating Andrew Yang as a contender? MORE on Saturday lauded the progress of the Obama administration in strengthening the U.S. working class and laid a vision for future reforms that should "make this resurgence permanent."

"Over the last eight years, we’ve created more jobs than all the advanced economies in the world combined. Unemployment has been cut in half. Wages are finally on the rise. We’ve gone from economic crisis to recovery to the cusp of genuine resurgence," Biden said during the White House weekly address. "And we’re better positioned to own the 21st century — economically and otherwise — than any other nation in the world."

"But we know there’s more we can do and more than needs to be done to make this resurgence permanent. And it begins and ends with what the president and I have believed since day one — we have to give the American workers a fighting chance," he added.

The key to progress, argued Biden, is the restoration of the middle class and an increase in minimum wages across the country.

"We have to build the middle class. Restore the basic bargain, which was if workers contribute to the success of an enterprise, then they should share in the gains. We have to make sure that everyone who’s worked hard and played by the rules has a real shot at getting into the middle-class and staying there," he said.

During his address, Biden summarized the policies that have passed under the Obama administration and showcased the efforts to bypass Republican resistance in Congress through the use of "our executive authority."

Likewise, the vice president praised the the states that have followed their call to increase the minimum wage of the woking families.

"From Alaska to California, Nebraska to Florida — workers now have a shot at a paycheck they can actually live on," Biden said.

According to Biden, the main challenge to the working class will be globalization and it will require a new set of policies.

"But we need to recognize that globalization hasn’t been an un-alloyed good — and we need to empower those who have paid the price of that globalization. There’s many things we can do to level this playing field. Because given a chance — American workers never, ever let their country down. But they need a chance," he said.

Following the tough election loss of Hillary Clinton