Rep. Tim Ryan (D., Ohio) said Thursday that the Democratic Party is headed in the right direction after its November loss, but can no longer only be the "party of redistribution of wealth."
MSNBC "Morning Joe" co-host Willie Geist asked Ryan if he felt the Democratic Party learned its lesson from the 2016 presidential election loss after seeing blue states go red.
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Ryan said he believes Democrats are "taking steps in the right direction," and what they need to do is focus on the American job market and economy right now.
"We have to say, look, we're the party to be able to handle the economy in the 21st century," Ryan said. "We have the convergence of so many different elements happening right now—globalization, automation, artificial intelligence, all of these different other opportunities within the economy right now."
Ryan said, however, that neither political party has tapped into that potential for economic growth. He hopes his party can make that move going forward.
"What I want the Democratic Party to be is to be a party that can set an agenda to try to deal with those issues that will drive up wages, help people to be able to afford college and health care and all the rest," Ryan said.
Ryan also said he does not believe government should be hostile to business, and it can create a balancing act where it increases the progressive tax code while also simplifying the tax code and lowering the corporate tax rate.
Ryan said the ultimate goal is to create new wealth in this new economic environment.
"We can't just be the party of redistribution of wealth," Ryan said. "We've got to be the party of creation of wealth."