Pick any metric you want. Growing economy. Creating jobs. Getting rid of the debt. Increasing incomes…
Democrats have a better handle on the economy than Republicans do, according to practically every objective indicator.
To begin with the most obvious fact, the United States has had 17 recessions over the past 100 years. Thirteen of them began under the administration of a Republican president, including the four most severe ones: the Great Depression, the Recession of 1981, the Recession of 2007, and the Recession of 2020. The last time a Democratic president presided over the economy during a downturn was more than four decades ago, during the final year of Jimmy Carter’s presidency.
Now, let’s look into the other measures:
The most significant increases in the gross domestic product were seen under the administrations of Democratic presidents Franklin Roosevelt, John F. Kennedy, Lyndon B. Johnson, and Bill Clinton during the last century. Republicans George H.W. Bush, George W. Bush, and Donald Trump are the three of the four presidents that have presided over the United States during a time of lowest GDP growth. One person stood out, and that was Harry Truman.
President Biden is focused on growing our economy from the bottom up and the middle out.
Congressional Republicans are focused on implementing a trickle-down plan that will benefit the rich and raise costs for working families.
— The White House (@WhiteHouse) November 8, 2022
Roosevelt, Johnson, Carter, Truman, Kennedy, and Clinton were all Democrats, and they hold the record for having the fastest job growth rates among all sitting presidents. Eisenhower, both Bushes, and Trump, who finished in the last position, were the four Republicans who were the slowest in their respective terms. Trump was also the first president in the past 90 years to be responsible for the loss of more employment than he was responsible for creating.
Reducing the Deficit
The Democrat who was in office at the time, Jimmy Carter, left Republican President Ronald Reagan with a deficit of $79 billion. Since that time, the deficit has increased under every Republican president while it has decreased under every Democratic one. Examine the following statistics from the time each president departed office:
- Carter: $79 billion
- Reagan: $153 billion
- H.W. Bush: $255 billion
- Clinton: $236 billion
- W. Bush: $1.41 trillion
- Obama: $584 billion
- Trump: $3.1 trillion
- Biden (present): $2.8 trillion
Boosting Household Incomes
Every time a Republican is elected president, the median income of households experiences a fall. Incomes experienced a sharp increase under Clinton, a decline during George W. Bush’s first term in office, a rise during Bush’s second term, and then a sharp decline during Bush’s final year in office.
They continued their downward trend throughout Obama’s first time in office before experiencing a big uptick during his second term. The growth in the median household income that Obama began continued under Trump, but once it was adjusted for inflation, it began a downward trend around halfway through Trump’s final year in office.
The Stock Market
Let’s look at the last five presidents: the smallest measures of growth and the only measure of the decline happened under Republicans.
- H.W. Bush: Up 36%
- Clinton: Up 226%
- W. Bush: Down 23.7%
- Obama: Up 145%
- Trump: Up 37%
The rate at which the economy has grown has increased by a factor of three under the leadership of Vice President Joe Biden compared to when Republicans controlled both houses of Congress and the White House. In addition, the administration of Joe Biden has been responsible for the creation of 9.5 million new employment, which is five times as many as were produced by the three most recent Republican presidents combined.
The state of the economy is at the forefront of voters’ minds in 2022. Spread this information around to help others make decisions at the polls that are based on accurate facts.
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