Her remarks, however, seemed to overlook the economic challenges that have persisted under the leadership of her and President Joe Biden. Harris emphasized the need for Democrats to be candid about the state of the American dream, which she argued has become more of a "myth than a reality," as reported by Fox News.
According to the Daily Caller, Harris highlighted the "affordability crisis" that she attributed to Trump's tenure, despite the fact that inflation reached unprecedented levels during the Biden-Harris administration. In July 2022, inflation soared to a staggering 9.1%, and gas prices also saw a significant increase during Biden's presidency.
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Despite these economic hurdles, Biden has consistently defended his economic policies, asserting in May that his administration's economy was "growing," with the stock market on the rise and America's global influence expanding.
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During her speech, Harris urged Democrats to focus on the midterm elections while also contemplating the future beyond Trump. "We need to answer the question, 'What comes next for our party and our democracy?'" she stated.
Harris acknowledged the struggles many Americans face with the rising costs of essentials such as food, energy, healthcare, transportation, and housing, which she described as fueling a "system [of] fear, frustration, and a lack of confidence in our systems."
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President Trump, on the other hand, has consistently lauded the economic progress made during his administration. At a recent rally in Pennsylvania, he praised the improvements in the U.S. economy under his leadership. However, some polls indicate that a portion of the electorate remains dissatisfied with his economic policies.
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The Bureau of Labor Statistics (BLS) reported on October 24 that the Consumer Price Index (CPI), a comprehensive measure of the prices of everyday goods, rose by 0.3% in September and increased by 3% over the previous year. The index for all items excluding food and energy also saw a 0.2% rise in September, with a 3% increase over the year.
Meanwhile, the American Automobile Association noted that the national average for fuel prices fell below $3 per gallon in early December 2025, marking the first time in four years. Additionally, BLS data from May 2025 revealed a significant decline in grocery prices, particularly in egg prices, marking the most substantial drop since 2020.
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A recent AP-NORC survey released on Friday indicated that while many Americans continue to express concerns about high prices, the level of concern has diminished compared to the peak of Biden's presidency. This evolving economic landscape underscores the ongoing debate over the effectiveness of economic policies and the challenges that lie ahead for both parties.
