Sunday, July 3, 2016

Does The Economy Do Better Under Democrats Or Republicans?

The title of this blog is an often conversation (with contention) with my Democrat and Republican friends.  I thought this article by
 Rep. Carolyn Maloney U.S. Representative for New York’s 12th District; Ranking Democrat, Joint Economic Committee was extremely interesting read.  Below are a few snippets that jumped out at me:

"Research from Princeton University economists Alan Blinder and Mark Watson finds that, since World War II, the economy has performed substantially better by virtually every measure when Democrats have been in the White House. GDP growth, job creation and industrial production have all been stronger during Democratic administrations than during Republican ones.
As the Ranking Member of the Joint Economic Committee, I asked my staff to review the Blinder and Watson findings. They were able to update and build on the economists’ analysis and found that on average since World War II, real (inflation-adjusted) GDP has grown about 1.6 times faster and private-sector jobs have grown nearly 2.5 times faster under Democrats than Republicans.
The starting point does not matter: GDP and jobs have grown faster under Democrats regardless of whether the analysis begins with President Truman, President Kennedy or President Reagan.
Conservatives often point to Ronald Reagan as the model for strong economic leadership, invoking his time in office as the Golden Age. But, in fact, job creation and GDP growth during the Reagan administration fell short of the post-World War II average for Democratic presidents."