John Maddens Lunchbox
Socialism for Dummies
The last 5 recessions have occurred under Republican administrations and the last two economic booms have occurred under Democratic admins.
is it time to re-evaluate this stereotype? Democrats have not had a recession under their watch in over 40 years at the federal level.
Trump in 2004 said
Forbes from 2019
I’m open to a discussion on why Republicans should be considered good economic managers, but the image does not match the reality
is it time to re-evaluate this stereotype? Democrats have not had a recession under their watch in over 40 years at the federal level.
Trump in 2004 said
USA Today: “I’ve been around for a long time and it just seems that the economy does better under the Democrats than the Republicans.”
Five now with the Trump one added in.Under that Reagan-to-Trump timeline, the Republican presidencies had four recessions start in their terms: one each under Reagan and George H. W. Bush, and two under George W. Bush. By contrast, Democrats Bill Clinton and Barack Obama had zero.
"The U.S. economy has performed better when the president of the United States is a Democrat rather than a Republican, almost regardless of how one measures performance," according to the report titled "Presidents and the Economy: A Forensic Investigation."
Forbes from 2019
Maybe it’s one long coincidence over 40 years or maybe it’s time to re-evaluate.In a more brutal assessment from the Washington Post “Trump’s economic brain trust consists of a guy who plays an economist on TV, a crank who has been disowned by the (real) economics profession and the producer of “The Lego Batman Movie.”
Of course a recession during Trump’s term would fit the historical pattern which reveals that recessions are much more common under Republican presidents. This is graphically demonstrated in a pre-election 2016 CNBC article (see chart). It is also a concern that reportedly no one in the Trump administration is preparing for an economic slowdown as they do not want to admit it is a possibility.
I’m open to a discussion on why Republicans should be considered good economic managers, but the image does not match the reality