Nicholas Langworthy (R-NY23) and Claudia Tenney (R-NY24) Attack the Harris Economy 

A prominent Republican talking point in this election cycle is inflation and the rising cost of food and housing, in the aftermath of the Trump pandemic. Western New York Congressmen Nicholas Langworthy (R-NY23) and Claudia Tenney (R-NY24) made these issues central to their re-election campaigns, arguing that inflation has harmed everyday Americans.

However, Langworthy and Tenney deliberately ignore other key metrics that paint a broader and more positive picture of the U.S. economy under the Harris administration. (Republicans often attempt to associate Vice President Kamala Harris with every policy of the Biden-Harris administration, so let’s refer to it as the “Harris administration” as they do.) While inflation was a big concern before the Federal Reserve’s successful fight against inflation, it must be weighed alongside the remarkable strength of the economy, as seen in the stock market, robust job creation, and historically low unemployment.

Republicans Focused on Inflation and the Border

Understandably, Republicans are focused on inflation and the border (which they chose not to fix) during this election.  They will not talk about their war against reproductive rights, which is killing women, or their authoritarian/fascist Project 2025 agenda, which they will implement if Trump is elected.

Congressmen Langworthy (R-NY23) and Tenney (R-NY24) represent safe Republican districts. Barring a major sex scandal (such as that of Republican Rep. Chris Lee – Rep. Langworthy was his campaign manager) or financial wrongdoing (such as that of Republican Rep. Chris Collins sentenced to 26 months), their re-election is virtually guaranteed. As a result, they can comfortably promote the radical MAGA narrative with little risk of accountability at the polls.

Rep. Brandon Williams (R-NY22)

The same cannot be said for Brandon Williams, who represents Syracuse-Rome-Utica in NY22. Despite raising twice as much money (mostly from out-of-state PACs) as his Democratic challenger, John Mannion, Williams is facing a tough re-election battle. Cook Political Report has the race D+3, “lean Democrat” as does Sabato’s Crystal Ball. His fragile hold on the NY22 seat keeps him from aggressively pushing Republican talking points. His website is remarkable for its lack of detail compared to Mannion’s. Also, Williams no longer answers questions about his well-publicized attack on his former campaign chairman last November at a lobbyist-sponsored holiday party.

Similarly, Langworthy and Tenney avoid discussing the whole truth about the economy or the potential disaster a second Trump presidency could bring. While inflation began during the Trump administration’s mishandling of the pandemic, the U.S. economy is now thriving under the Harris administration.

The Stock Market Is Booming Under Harris

The stock market has surged since 2021. Major indices like the S&P 500 and Nasdaq Composite have reached record highs. The S&P 500, for instance, has risen by more than 35% since Kamala Harris took office, fueled mainly by the post-pandemic economic recovery, growing corporate earnings, and strategic government policies aimed at long-term growth.

Clean energy, technological innovation (thanks to the 2022 Chips and Science Act), and investment in infrastructure (thanks to the 2021 Infrastructure Act and other Harris administration policies—most opposed by Nicholas Langworthy and Claudia Tenney—have contributed significantly to this economic surge.

A strong stock market often reflects healthy economic fundamentals. Corporate profits are up, consumer spending is robust, and industrial output is solid—all signs of a strong economy. Kamala Harris helped foster an environment where wages and consumer confidence are growing. This is excellent news for everyone, not just Wall Street.

 GDP Growth: Setting the Pace for the Economy

Under the Harris administration, the U.S. economy has seen significant GDP growth. It continues to be the world’s largest economy and the world’s largest producer of petroleum and natural gas. In 2021, the U.S. economy expanded by 5.9%, one of the highest rates in decades. Government stimulus programs and a sharp rise in consumer demand largely drove this surge. While growth has stabilized, 2023 still saw a healthy 2.4% GDP increase and it increased at an annual rate of 3.0 percent in the second quarter of 2024.

Harris administration policies play a large part in the booming economy. The bipartisan $1.2 trillion Infrastructure Investment and Jobs Act laid a strong foundation for sustained future growth, with renewable energy investments and advanced manufacturing playing key roles. The 2022 Chips and Science Act will reduce U.S. dependence on foreign chip sources, creating thousands of new jobs. In Rep. Williams’ NY24 district, this act spurred multimillion-dollar investments by the Micron Corporation, bringing thousands of jobs to Syracuse. Ironically, Williams opposed the Chips Act— “corporate welfare package for the profitable chip industry” – a fatal political position in a district that stands to benefit enormously from the Chips Act.

Job Creation and Unemployment

A hallmark of the Harris administration’s success is its record of job creation. Since taking office, over 13.4 million new jobs have been created, focused on new economy industries like clean energy, technology, and healthcare. In 2021 alone, over 6 million jobs were created, the largest single-year job growth in U.S. history.

The unemployment rate has also reached historic lows, dropping to 3.5% in 2023, down from 6.3% at the end of the Trump administration. This low unemployment rate signals a tight labor market, where businesses compete for talent, resulting in rising wages across many sectors. Wage growth, in turn, has supported increased consumer spending, further fueling economic growth.

Market Benefits for Stockholders and Pensioners

The stock market’s growth under the Harris administration brought significant benefits to both individual stockholders and Americans with public and private pensions.

For those invested directly in the stock market, the rise in stock prices means higher returns and increased personal wealth. This wealth increases consumer confidence and spending, further driving economic growth.

Perhaps even more important, however, is the benefit to pension holders. Public pension funds, which manage the retirement savings of millions of government employees such as teachers, firefighters, and police officers, rely heavily on the stock market to meet their obligations. As stock prices rise, the value of these pension funds increases, ensuring they can continue to provide retirement benefits without straining government budgets.

Private pension funds, including 401(k)s and other retirement accounts, also gained. Many Americans rely on these investment vehicles for their retirement security. The strong stock market has helped grow their savings, ensuring a comfortable retirement.