It's The Economy, Stupid

In 1991, the United States was in the midst of a recession.

Then-candidate Bill Clinton knew this. So too did his Louisiana political consultant, a man by the name of James Carville. In fact, the recession was such a prevalent part of the campaign that Carville's messaging of "it's the economy" not only was prominently displayed in the campaign's Little Rock headquarters but the phrase itself became the de facto slogan for the entire presidential campaign. Clinton, as skilled an orator as the American public had seen over the previous half-century, stayed on message and kept hammering incumbent President George H.W. Bush about the floundering economy, causing the incumbent president's approval rating to dip into the upper 30s. By the time the November 1992 general election finally arrived, Clinton and the Democratic Party were seen as much more trustworthy on the economy and with Ross Perot's third party bid essentially siphoning votes away from Bush, Clinton cruised to victory with 370 electoral votes and began immediately working to end the Bush recession.

Like Bill Clinton, Joe Biden knows the importance of having a strong economy. So it shouldn't surprise anyone that he has focused his first 18 months in office in rebuilding the recession left to him by his inept predecessor. But what has been particularly impressive has been not just how Biden has racked up victory after victory that has created a booming jobs economy but also how Biden has strategically enacted legislation that continuously builds off previous bills with long-term job stability in mind. Combining that with Biden being the strongest union president in a generation and we're not only seeing new jobs and new industries emerge but we're also seeing workers earn new levels of protection and job security, both of which equip them now as well as into the future. This Biden Boom, as it should be called, is adhering to Carville's 1991 messaging but with a 21st century spin that has made the work that he has already done so damn impressive.

It's the strategy itself that is the genius part. Biden started with infrastructure, something Trump boasted about but failed to enact. Within the Bipartisan Infrastructure Law was the opportunity for green energy, specifically green energy charging stations. And how do you ensure the technology is available for these charging stations? By ensuring that America is leading the world in the production of semiconductor chips, as was done with recent passage of the CHIPS Act. Already, we've seen Micron commit to $40 billion in chip manufacturing right here in the United States with more investments to follow. Both of these laws are also strongly connected with the Inflation Reduction Act that, when passed, will expand renewable energy production and fund the development of new technologies aimed at lowering carbon emissions. These three pieces of legislation, when taken together, are the most transformative jobs agenda since the New Deal and provide a robust foundation for the country moving forward.

We know we won't be at 3.5% unemployment in 27 months. There are events, both nationally and internationally that will be beyond Joe Biden's control. But he and his administration have set both Democrats and the country up for success in the years to come with the wheels are already in motion. Jobs from the Bipartisan Infrastructure Law are already in bloom. Signs are posted that various projects were funded by the law. Democratic candidates are running on this robust jobs creation and challengers are succinctly calling out Republican lawmakers who "voted no and took the dough" on this bill and others. While Republicans are openly rooting for a recession, Democrats can point to their policies that helped the country get back to where it was prior to the pandemic as well as their policies that addressed the day-to-day concerns of such as the baby formula shortage and having gas prices plummeting for 7 weeks straight. Combined with the inevitable prison time for TFG and Democrats will be an incredibly strong position heading into the 2024 election. 

That was not a given, especially with the state of the country when the Biden-Harris administration took over. But with Biden recognizing the importance of a strong economy and prioritizing it via his first 18 months of legislation, he has set the stage for not only continued job growth but also for candidates to run on the Biden Boom in 3 months time. That's the beauty of his agenda: it works both in the present and in the long-term. Republicans have nothing. Other than those that crossed over on the Bipartisan Infrastructure Law, it has been Democrats and Democrats alone who have spearheaded this remarkable economic turnaround. When the Inflation Reduction Act passes the House this Friday along ideological lines, it will be just one additional example of Democrats being the adults in the room. Of being the party actually getting people to work. Of being the party of union men and union women. And of being the party that 30 years later, has finally taken James Carville's words to heart. 

It's still the economy, stupid, and Democrats are the only ones who understand this.