I do not understand the myth that Republicans manage the economy better than Democrats.
From Herbert Hoover to Ronald Reagan to both George Bushes and Donald Trump, economic outcomes have been significantly worse under Republican presidents than under Democratic. Hoover presided over the onset of the Great Depression. The deepest recessions since the Great Depression occurred under Reagan, George W. Bush, and Trump. Growth of GDP and household income was higher under Presidents Bill Clinton and Barack Obama than under both Bushes and Trump.
The presidencies of Reagan, George W. Bush, and Trump exploded federal budget deficits, while Clinton and now President Joe Biden each reduced those deficits. Clinton’s second term ended with the only budget surpluses since 1969. The last deficit of Obama’s presidency was more than quintupled by the end of Trump’s term. Clinton and Obama left office with the economy in far better shape than what they inherited, whereas the opposite was true of George W. Bush and Trump.
The reason for the poor economic performance of Republicans is simple – tax cuts for the rich and corporations do not pay for themselves, do not spur economic growth and do nothing to build a middle class of workers and consumers that is the backbone of a healthy economy. If your major worry for the future of the country is the economy, do not turn it over to Republican management.
Peter Toumanoff
Hancock