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Here's the Economic Sweepstakes Quiz. Guess which president since World War II did best on these eight most generally accepted measures of good management of the nation's economy.
You can choose among six Republicans: Eisenhower, Nixon, Ford, Reagan, G.H.W. Bush and G.W. Bush; and five Democrats: Truman, Kennedy, Johnson, Carter and Clinton. (No peeking.)
Whose watch produced:
1. The highest growth in the gross domestic product?
2. The highest growth in jobs?
3. The biggest increase in personal disposable income after taxes?
4. The highest growth in industrial production?
5. The highest growth in hourly wages?
6. The lowest Misery Index (inflation plus unemployment)?
7. The lowest inflation?
8. The largest reduction in the deficit?
The answers are: 1 Harry Truman; 2 Bill Clinton; 3 Lyndon Johnson; 4 John F. Kennedy; 5 Johnson; 6 Truman; 7 Truman; 8 Clinton. In the Economic Sweepstakes, Democratic presidents trounce Republicans eight times out of eight!
once again, those were democrats that lowered taxes, not raised them, thereby creating job growth and more prosperity. obama plans nothing like that, plus his spending index is unbelievable!
"It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ... Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."
– John F. Kennedy, Nov. 20, 1962, president's news conference
"Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government."
– John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964
The quiz would seem to suggest that the party of big business messes up the economy, and the party of the middle class cleans it up. Yeah, that sounds about right.
once again, those were democrats that lowered taxes, not raised them, thereby creating job growth and more prosperity. obama plans nothing like that, plus his spending index is unbelievable!
And Obama plans to lower taxes (for the middle class) and has said several times that he wants a "pay as you go" form of government. That doesn't seem to matter to those who have made up their minds against him though.
During the 20th century, the Dow Jones industrial average rose 7.3 percent per year on average under Republican presidents. Under Democrats, it rose 10.3 percent - which means that investors gained a whopping 41 percent more. And the stock market declined further during George Bush's two terms.
Moreover, according to research from Professor Larry Bartels of Princeton, real middle class wage growth is double when a Democrat is president, contrasted to that growth under a Republican president.
Since World War II, Democratic presidents have increased the national debt by an average of 3.7 percent per year, and Republican presidents have increased it an average of 10.1 percent. During the same time period, the unemployment rate was, on average, 4.8 percent under Democratic presidents; it was 6.3 percent under Republicans.
OK, but heres the thing......what party controlled the house and senate during the dems presidencies? To me, our system works best when one party controls the presidency while another controls the congress. To have one party rule both spells economic disaster.
It is a funny thing. The Republicans screech about free market, low taxes, fiscal responsibility, etc. yet the economy does better under the Democrats, the fed budget gets into better shape, and taxes are no worse. We've got more socialism and worse deficits than ever with unfairer tax structure under the Repubs. I've come to the conclusion that what Wall St. wants is the worst thing for the economy. They do better when they don't get what they want and do terrible when they do.
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