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G_j

(40,394 posts)
Tue Feb 2, 2021, 08:42 AM Feb 2021

The Economy Does Much Better Under Democrats. Why? [View all]

https://nyti.ms/36xgxoa

G.D.P., jobs and other indicators have all risen more slowly under Republicans for nearly the past century.

By David LeonhardtGraphics by Yaryna Serkez
Mr. Leonhardt is a senior writer at The Times. Ms. Serkez is a writer and graphics editor for Opinion.

Feb. 2, 2021, 5:00 a.m

A president has only limited control over the economy. And yet there has been a stark pattern in the United States for nearly a century. The economy has grown significantly faster under Democratic presidents than Republican ones.

It’s true about almost any major indicator: gross domestic product, employment, incomes, productivity, even stock prices. It’s true if you examine only the precise period when a president is in office, or instead assume that a president’s policies affect the economy only after a lag and don’t start his economic clock until months after he takes office. The gap “holds almost regardless of how you define success,” two economics professors at Princeton, Alan Blinder and Mark Watson, write. They describe it as “startlingly large.”

Since 1933, the economy has grown at an annual average rate of 4.6 percent under Democratic presidents and 2.4 percent under Republicans, according to a Times analysis. In more concrete terms: 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. If anything, that period (which is based on data availability) is too kind to Republicans, because it excludes the portion of the Great Depression that happened on Herbert Hoover’s watch.

The six presidents who have presided over the fastest job growth have all been Democrats, as you can see above. The four presidents who have presided over the slowest growth have all been Republicans.

The big question, of course, is why. And there are not easy answers.

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Part of the reason is no Trickle-Down Economics. no_hypocrisy Feb 2021 #1
This, for the explanation. nt Buckeye_Democrat Feb 2021 #3
Yes. Just this morning my daughter was complaining about her Trumpy economy teacher Buckeyeblue Feb 2021 #5
This Tommymac Feb 2021 #7
Yes, and the GOP has been LYING about better economies... Buckeye_Democrat Feb 2021 #2
what too many people miss.. stevesinpa Feb 2021 #13
"Better" means different things to people... Harker Feb 2021 #4
But are Republican policies actually better for the rich? Relative to working class people, maybe, tclambert Feb 2021 #15
I appreciate your pizza math... Harker Feb 2021 #20
We don't do trickle down! Wawannabe Feb 2021 #6
the NYT, as usual... relies on the work of others. WarGamer Feb 2021 #8
I'll give one: Overall, liberals BELIEVE in government of, by and for the people Hortensis Feb 2021 #9
There's an old saying that every Republican knows, but never says out loud DFW Feb 2021 #10
We also invest in potential--the potential for something creative and small to grow Mike 03 Feb 2021 #11
"Over the last four decades... Republicans have run up larger deficits than Democrats" malthaussen Feb 2021 #12
This has been true for such a long time....WHY CAN'T DEMOCRATS PUBLICIZE THIS BETTER? LiberalLovinLug Feb 2021 #14
+1. . . . nt Bernardo de La Paz Feb 2021 #18
No, its not the news networks fault. We need to have a discussion on progressive messaging ... uponit7771 Feb 2021 #21
The GOP has been the one bit whore of big business since 1870. Dawson Leery Feb 2021 #16
TBF, you just left out the whole Progressive Teddy Roosevelt Era. Deffo NOT a big business Celerity Feb 2021 #19
Not difficult: Ds invest in people. Rs invest in trickle down. People work, trickles don't Bernardo de La Paz Feb 2021 #17
Democrats consult bona fide experts about the economy and what should be done to improve it. Vinca Feb 2021 #22
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