Rep. Suzan DelBene, D-Wash., is Chair of the centrist New Democrat Coalition 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 their party is better for the economy, but when we look at what Democratic majorities have done in just two short years — including the recent passage of the Inflation Reduction Act and the CHIPS and Science Act — it’s clear that the Democratic Party’s only attitude is to align our country and our economy for long-term success.
In fact, history has shown that democratic policies make our economy grow, create, at a higher annual average rate Millions of good jobs, and strengthen our economy as a whole. Just last week, the GDP Quarterly Report showed that US GDP grew 2.6% in the third quarter of 2022 under Democrat leadership. All of this is a direct result of the work that Democrats have done in Congress and in the White House.
I have seen this work firsthand. As a former CEO, entrepreneur, and in my current role as chairman of the nearly 100-strong center-left New Democrat coalition, I know how hard the Democrats are working to grow our economy so that every American can thrive in it.
In February, New Dems established an inflation working group and met with industry and economic experts such as Commerce Secretary Gina Raimondo, former Treasury Secretary and economist Larry Summers, Deputy Treasury Secretary Wally Adeyemo, and others intel CEO Pat Gelsinger to find strategies to cut costs for Americans.
As a result, we have developed a comprehensive action plan to fight inflation, outlining an affordability agenda and actions that Congress and the Biden administration can take to lower the cost to families. We had one of the most productive conventions in recent memory and made great strides on the New Dem Action Plan, passing legislation to reduce healthcare and energy bills, secure supply chains, create jobs, fight climate change and improve infrastructure our country have adopted . Republicans have had every opportunity to join the Democrats in our efforts to strengthen our economy and lower costs for working families, but they voted almost unanimously against each of these measures.
In addition to these legislative gains, Democrats cut federal spending by $550 billion and reduced the deficit by $1.4 trillion in 2022 — the largest one-year deficit decline in American history. Thanks to the anti-inflation law, the deficit is expected to fall even further. Republicans have promised this for years but failed to deliver. Indeed, Republicans, led by former President Donald Trump, passed a tax bill that the CBO predicted would increase the deficit by $1.9 trillion, and the deficit has skyrocketed under the last three Republican presidents. Republicans’ attacks on Democrats fall flat when looking at their economic record, which also includes two recessions under recent GOP presidents.
As Democrats move America forward, Republicans work to move our country forward and economy backward. This is especially evident following the unveiling of the GOP’s “Commitment to America” agenda, which would deprive women of their basic freedoms, Social Security and Medicare and would threaten the sanctity of our elections. This is not an economic plan. The truth is, Republicans don’t have a plan. As they play the blame game and wage culture wars, we keep our heads in the game, improve our economies, and protect Americans’ hard-won freedoms.
Conventional wisdom holds that Republicans have the upper hand over the economy, but the New Dems are quick to dispel that myth.
Led by President Biden, the Democrats have grown our economy 3 times faster than when Republicans controlled Congress and the White House. We’ve also created 9.5 million jobs — five times the number of jobs under the last three Republican presidents combined — reduced unemployment to a historic low of 3.5%, raised wages above historic norms, and achieved long-term goals like protecting ours Planets reached and counteracted the rising costs. The Democrats managed all this even with the smallest majorities in Congress.
But our work is never done. If the Democrats win a majority on November 8th, we will continue our work to boost economic growth and improve Americans’ opportunities. New Dems are focused on passing paid family leave and childcare legislation to allow more parents to return to work, immigration reform to secure our border and address labor shortages, an expanded child tax credit to make the next generation prosperous , and so much more. This is what a pro-business, pro-worker, pro-business growth party and economic plan looks like. The Democratic Party is the only American political party that has delivered repeated economic growth and will continue to do so for years to come.
In stark contrast, the GOP agenda contains no real political plans and will only create an unstable and insecure economy for hard-working families. That’s not what Americans want or need. Republicans no longer deserve the title of economically responsible party. Democrats do.
As Republicans look to the past, New Dems look to the future — and in about a week, Americans will be choosing between the two.