Vice President Kamala Harris’ economic agenda is a clear winner among experts, and on Wednesday more than half of the living winners of the Nobel Prize for economics signed a letter calling ‘vastly superior’ to Trump’s.
All in all, 23 Nobel Prize-winning economists signed the letter, which was drafted after the Vice President’s economic speech last month.
“While each of us has different views on the particulars of various economic policies, we believe that, overall, Harris’ economic agenda will improve our nation’s health, investment, sustainability, resilience, employment opportunities, and fairness and be vastly superior to the counterproductive economic agenda of Donald Trump,” they wrote in the letter obtained by CNN.
While a smaller number of this group (16) penned a letter endorsing President Biden’s economic vision in June, CNN explains that the new letter “includes seven new signatories and represents a wide cross-section in the field in terms of areas of expertise and approach to economics.”
The Biden-Harris administration has also overseen historic job growth and has radically transformed our country for the better in terms of addressing crumbling infrastructure that posed a safety risk as well as a supply chain risk, and created good paying jobs. Sec. Pete Buttigieg called the Biden-Harris Bipartisan Infrastructure Act ‘The Big Deal,’
likening it to FDR’s New Deal. He’s not lying and the impact of these jobs on the economy is hard to measure, but if we look at the economy as how it impacts working class people, the impact is impossible to overstate.
In June, a group led by Joseph Stiglitz, a Columbia University professor and 2001 winner of the prize, warned a second Trump term would have a “destabilizing effect” on the economy.
Trump has claimed that under his leadership, “inflation will vanish completely.”
But most mainstream economists warn that Trump’s plan will actually make inflation worse. They say his plans would likely send prices “surging.”
Trump is all talk when it comes to his policies, and he’s taken to pivoting to tariffs and weird, off-topic rants when asked questions about his economic plan.
It’s not a surprise that the man notorious for repeatedly filing for bankruptcy is bad on the economy. Even economists at the conservative-leaning Tax Foundation say Trump’s tariffs (i.e., the bulk of his economic plan) “will almost certainly increase the risk of a recession.”
Indeed, a Moody’s study found “Trump’s plan would trigger a recession by mid-2025… The U.S. would have 3.2 million fewer jobs and a 4.5% unemployment rate, a half percentage point higher, at the end of a Trump tenure.”
If you’re new around these parts, it might not seem strange that a Democratic nominee for President is being touted for her economic policy and national security policy. But it is definitely a political shift that voters shouldn’t sleep on, as concerned as they are about price gouging and inflation.
The DC narrative has long been that Republicans are good on the economy and national security, and then along came Trump, whose economy was faltering before the Covid pandemic and whose loyalties laid with countries hostile to the US, like Russia, whose national security experts he said he trusted more than his own.
But the times are changing, and now we hear repeatedly from actual experts, who aren’t infamous for declaring bankruptcy numerous times after inheriting some $413 million like Trump did, that Vice President Kamala Harris is the one to trust with the economy.
