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“...data show that the economy has performed much better during Democratic administrations. Economic growth, job creation and industrial production have all been stronger.” https://www.jec.senate.gov/public/in...can-presidents
For the 13 presidents beginning with Truman, total job creation was about 70.5 million for the 7 Democratic presidents and 29.1 million for the 6 Republican presidents.
CNN reported in September 2020 that GDP grew 4.1% on average under Democrats, versus 2.5% under Republicans, from 1945 through the second quarter of 2020, a difference of 1.6 percentage points.[3] The New York Times reported in February 2021 that: "Since 1933, the economy has grown at an annual average rate of 4.6 percent under Democratic presidents and 2.4 percent under Republicans...The average income of Americans would be more than double its current level if the economy had somehow grown at the Democratic rate for all of the past nine decades
Blinder and Watson reported that budget deficits tended to be smaller under Democrats, at 2.1% potential GDP versus 2.8% potential GDP for Republicans, a difference of about 0.7 of a percentage point.
CNN reported in September 2020 that: “Since 1945, the S&P 500 has averaged an annual gain of 11.2% during years when Democrats controlled the White House, according to CFRA Research. That's well ahead of the 6.9% average gain under Republicans.”
Think about that last one. The last time a recession started during a Democrat administration was Jimmy Carter, 45 years ago. But Trump, Bush, Bush Sr, Reagan, Nixon and Eisenhower all had recessions.
The New Republic thinks Republican Presidents are bad for the economy? Shocker. I'm sure the extremist wingnuts over there came to that conclusion before even looking at any data.
Anyone who's lived through Republican and Democrat presidents knows from personal experience which party is better for the economy. And it isn't the tax and spend open borders terrorism-loving Democrats.
Economic Recessions, for whatever reason perhaps not their fault, seem to fall on Republican Presidents. Nixon, Bush Senior, Hoover, George Bush Jr. and in the early days of Reagan. If Trump gets re-elected, he'll probably fall victim as well.
We're way overdue for an Economic Recession, and if Biden gets re-elected, there's one Democratic President that may face an Economic Recession.
The bigger failure of the GOP is the rare occasion when the have the WH and both chambers of Congress. Since Eisenhower it’s happened only twice -
2017-19 was followed by the year from hell: 2020 Part II
2003-07 was followed by the year from hell: 2008 Part I
2020's recession was due to COVID. Trump did not start the pandemic. Trump did not shut down cities either, which obviously caused the GDP to temporarily plummet. It was democrats who promoted hard lock downs, shutting schools down in favor of remote learning, etc. The GOP perhaps deserves some blame for not doing more to stand in their way.
2008's financial meltdown didn't have anything to do with republicans. It was largely the result of people being given mortgages who in no way qualified for mortgages. The house of cards had to fall eventually, and it happened to fall on GWB's watch.
Let me guess: this article counts Obama and Biden as being good for the economy as jobs that were lost due to (1) the Great Recession and (2) Covid shutdowns came back as expected Biden is a disaster for the economy which is why his numbers are in the toilet.
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Biden is a disaster for the economy which is why his numbers are in the toilet.
