[Congressional Record Volume 170, Number 19 (Thursday, February 1, 2024)]
[Senate]
[Pages S325-S326]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                              The Economy

  On the economy, Mr. President, the reports are in, the results are 
clear: Americans are feeling better and better about where the economy 
is headed under President Biden and congressional Democratic 
leadership. When

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you pass an ambitious agenda like the ones Democrats have passed under 
President Biden, it can take some time for the effects to take hold. 
But now we are starting to see these benefits gain momentum.
  Americans are starting to notice. As a Washington Post headline read 
this week:

       Falling inflation, rising growth give the United States the 
     world's best recovery.

  American citizens have noticed. The University of Michigan shows that 
consumer sentiment surged by nearly 30 percent over the last 2 months--
the biggest 2-month increase in over 30 years.
  Earlier this week, another survey by The Conference Board showed 
American consumers are more optimistic about the economy today than 
they have been in over 2 years. Let me say that again. According to a 
new survey by The Conference Board--very well-respected--American 
consumers are more optimistic about the economy today than they have 
been over the past 2 years.
  The chief economist at The Conference Board credited the surge in 
consumer optimism to ``slower inflation'' and ``favorable employment 
conditions.''
  Look, a year and a half ago, when Democrats passed legislation 
investing in the American people, like the Inflation Reduction Act, the 
hard right predicted America would sink into recession. Instead, the 
opposite has happened. Jobs are up, the economy is up, wages are up, 
and inflation has cooled down. None of this happened on its own. It is 
a result of Democrats choosing to invest in infrastructure, invest in 
manufacturing and scientific innovation, lowering prescription drug 
costs, and more.
  We are seeing big progress across the country. One year ago this 
week, I stood with President Biden to announce historic investment in 
one of the most important infrastructure projects in the country--the 
Gateway Tunnel. Just this morning, we learned that manufacturing 
investments--something that has plagued America for quite a while--is 
near an alltime high, more than double its highest point during the 
previous administration.
  Look, Republicans know the Democratic agenda is working. It is why so 
many Republicans in Congress are openly taking credit for our 
achievements. All over the country, you see Republicans bragging about 
projects and jobs that they actually voted against in Congress. The 
hard right knows they have no real agenda to tout. As one Texas 
Congressman said on the House floor:

       I want my Republicans colleagues to give me one thing--
     one--that I can go campaign on and say we did.

  Unfortunately, this Republican Congressman, his options are slim 
because they don't have much to tell the American people about that 
they did that was good.
  Without real accomplishments on their own, the hard right is trying 
to take credit for the things Democrats are doing. It is laughable. And 
the American people, frankly, aren't falling for it.
  So make no mistake. We still have a long way to go to make our 
economy more productive. But Americans can rest assured that under 
President Biden and congressional Democrats, we are on the right track.
  I yield the floor.