Representative Susan DelBene, D-Washington, is the chairwoman of the centrist coalition of New Democrats in the US House of Representatives.
When voters head to the polls next Tuesday, they will look at what Congress has accomplished, and the economy will come first. Republicans often claim that their party is better for the economy, but when we look at what the Democratic majority has done in just two short years — including recently passing the Inflation Reduction Act and the CHIPS and Science Act — it’s clear that the Democratic Party is the only way to set our country and economy up for long-term success.
In fact, history has shown that democratic policies grow our economy at a higher average annual rate, create tens of millions of good jobs, and strengthen our economy as a whole. just last week the quarterly GDP report shows that US GDP grew by 2.6% in the third quarter of 2022 under Democratic leadership. All of this is a direct result of the work done by Democrats in Congress and in the White House.
I have seen this work with my own eyes. As a former business executive, entrepreneur, and in my current role as chairman of the nearly 100-member center-left New democratic coalitionI know how Democrats are working to grow our economy so that every American can succeed.
In February, the New Democrats created an inflation task force and met with industry and economic experts such as Commerce Secretary Gina Raimondo, a former Treasury secretary and economist Larry SummersDeputy Minister of Finance Wally Adeyema and Intel CEO Pat Gelsinger to find cost-cutting policies for Americans.
As a result, we developed a complex an action plan to combat inflation which outlined the affordability agenda and actions that Congress and the Biden administration can take to reduce costs for families. We had one of the most productive Congresses in recent memory and made great progress on the new Democratic Action Plan, passing legislation to lower health care and energy costs, secure supply chains, create jobs, fight climate change, and improve our nation’s infrastructure. Republicans had every opportunity to join Democrats in our efforts to strengthen our economy and lower costs for working families, but they voted almost unanimously against each of these policies.
In addition to these legislative accomplishments, Democrats cut federal spending by $550 billion and cut the deficit by $1.4 trillion by 2022 – the biggest drop in one year in short supply in American history. Thanks to the anti-inflation law, the deficit is projected to fall even further. Republicans have promised this for years, but failed to deliver. In fact, under the former president Donald Trump leadership, Republicans passed a tax bill that CBO projects will increase the deficit by $1.9 trillion and the deficit exploded under the last three Republican presidents. Republican attacks on Democrats don’t matter when you look at their economic record, which also includes two recessions under recent GOP presidents.
While Democrats move America forward, Republicans work to move our country forward and the economy is backward. This is especially evident after the House GOP’s opening.”Commitment to America” agenda that will strip women of their basic freedoms, destroy Social Security and Medicare, and jeopardize the sanctity of our elections. This is not an economic plan. The truth is, Republicans have no plan. While they are taking the blame game and running the cultural wars, we keep our heads in the game, improving our economy and protecting Americans’ hard-earned freedoms.
Conventional wisdom says that Republicans have the upper hand on the economy, but the New Democrats are quick to dispel that myth.
Under the leadership of President Biden, Democrats have developed our economy 3 times faster than when Republicans controlled Congress and the White House. We also created 9.5 million jobs – five times more than under the last three Republican presidents combined – reduced unemployment to a historically low 3.5%, increased wages above historical norms, achieved long-term goals such as protecting our planet, and managed rising costs. The Democrats managed to achieve all this even with the slimmest majority in Congress.
But our work is never done. If Democrats win the majority on November 8, we will continue our work to spur economic growth and improve opportunities for Americans. New lawmakers are focused on passing legislation on paid family leave and child care so more parents can return to work, immigration reform to secure our border and address labor shortages, expanding the child tax credit to set the next generation up for success, and much more. This is what the party and the economic plan look like, which are in favor of business, workers, and economic growth. The Democratic Party is the only American political party that has repeatedly delivered economic growth and will continue to do so in the years to come.
In contrast, the GOP agenda contains no real policy plans and will only create an unstable and uncertain economy for hard-working families. This is not what Americans want or need. Republicans no longer deserve the title of economically responsible party. Democrats do.
While Republicans are looking to the past, New Democrats are looking to the future — and in about a week, Americans will decide between the two.
This article is first published on Source link
