Former Vice President Kamala Harris attempted to dunk on President Donald Trump’s economy Friday, while seemingly ignoring the affordability headaches many Americans faced under her and former President Joe Biden’s watch.
During a speech at the Democratic National Committee’s (DNC) annual winter meeting in Los Angeles, Harris said Democrats must “be honest” and acknowledge the American dream has now “become more of a myth than a reality,” Fox News reported Saturday. She also claimed Americans are currently grappling with an “affordability crisis” under Trump.
“Obviously, we must focus on the midterms,” Harris said during the speech. “But Democrats, we must also have a clear vision for what comes after the midterms and then after Trump. We need to answer the question. We need to answer the question, ‘What comes next for our party and our democracy?’”
“And in so doing, we must be honest that for so many, the American dream has become more of a myth than a reality,” she continued. “Whether it’s the cost of food, energy, health care, transportation or housing, America is facing an affordability crisis, a crisis that we are witnessing is fueling a system [of] fear, frustration, and a lack of confidence in our systems.”
U.S. inflation surged to record highs under the Biden-Harris administration, reaching a peak of 9.1% in July 2022. Gas prices in the U.S. also jumped during a portion of Biden’s sole presidential term.
Despite these low points, Biden has touted his economic policies since exiting the White House, claiming in May that his administration’s economy was “growing … the stock market was way up … we were expanding our influence around the world.”
Trump praised the U.S. economy as having improved under his leadership during a Tuesday rally in Pennsylvania. Some recent polling, however, suggested many voters are unhappy with Trump’s economic policies.
In September, the Consumer Price Index (CPI), a broad measure of the prices of everyday goods, rose 0.3% and increased 3% over the preceding 12 months, the Bureau of Labor Statistics (BLS) reported Oct. 24. Meanwhile, the index for all items besides food and energy jumped 0.2% in September and increased 3% over the year, according to the BLS.
The U.S. national average for fuel prices dipped below $3 per gallon at the beginning of December 2025 for the first time in four years, the American Automobile Association reported Dec. 4. In May 2025, BLS data showed grocery prices in the U.S. declined more in April 2025 than they did at any time since 2020, driven largely by a drop in egg prices.
Additionally, a new AP-NORC survey released Friday found many U.S. adults still have concerns about high prices, but less so than during the middle of Biden’s presidency.
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