I was recently challenged (yet again) to support this contention:
"The economy has done better under Democrats than Republicans, in spite of the hackneyed sayings pushed by conservatives."
I was asked:
Whats your source for that radical opinion?
Here was/is my reply, in part, with most data covering the time from Ronald Reagan until Autumn of 2024 (e.g., including DJT-45 and most of Biden's term):
Facts from the real world.
How about this quote:
It just seems that the economy does better under the Democrats than the Republicans.[13]
(See https://simple.m.wikipedia.org/wiki/U.S._economic_performance_under_Democratic_and_Republican_presidents)
Do you know who said that? DJT said that.
But let's dig in to some recent reality, with info from:
the Bureau of Labor Statistics:
1) US Job Growth by Pres (1981 - Sep 2024)
Do you see who lost MORE THAN 2.7 MILLION JOBS? DJT!
Who ADDED jobs, more than DJT lost? BIDEN.
2) Change in US Unemployment Rate by Pres (1981 - Sep 2024)
Do you see who INCREASED unemployment? DJT!
Who DECREASED unemployment, more than DJT increased it? BIDEN.
3) Change in US Manufacturing Jobs by Pres (1981 - Sep 2024)
Do you see who lost 178,000 manufacturing jobs? DJT!
Who ADDED 4x MORE manufacturing jobs than DJT lost? BIDEN.
the Bureau of Economic Analysis:
4) Change in Real US GDP (chained 2017 dollars) by Pres (1981 - Q2 2024)
Do you see who grew the economy LESS than Biden? DJT!
Who grew the economy MORE than DJT? Biden.
the Congressional Budget Office:
5) US National Debt under DJT-45 and Biden - CRFB using CBO
Do you see who INCREASED the National Debt MORE than Biden? DJT!
Who INCREASED the National Debt LESS than DJT? Biden.
the US Census Bureau:
6) US Small Business Formation under DJT-45 and Biden (- Aug 2024)
Do you see who grew the Small Businesses LESS than Biden? DJT!
Who grew Small Businesses by 28% MORE than DJT? Biden.
7) Manufacturing Investments by Pres (2002 - Aug 2024)
Do you see who had LESS Manufacturing Investment than Biden? DJT!
Who hugely outpaced DJT's Manufacturing Investment? Biden.
If you disagree, What's YOUR source for YOUR opinion?
Any moment now, we will likely see the Democrat misinformation industry parade 51 Democrat economist bragging about the Biden economy :)
Here's one anti-Democrat (raising hand) bragging about the Trump economy:
I just checked my IRA accounts and ..
today I am $600 richer than I was yesterday, Yesterday (Tuesday) I was $1,600 richer than I was on Friday, On Friday I was $1,200 richer than I was on Thursday, On Thursday I was $400 richer than I was on last Wednesday ... and I can go on and on to the November election when I was $15,000 poorer than I was before Biden was elected.
Since Trump was elected, our IRAs recovered all that was lost during the 4 Biden years. Not only that but added yet another $15,000 beyond. And if the American people continue to ignore Democrat economist, at the end of the Trump administration I may be a MILLIONAIRE!
Becoming a millionaire in itself isn't a big deal, but as validation of my anti-Democrat political underpinnings it is indeed. Because not only will I experience a rewards for choking Democrats of their political power but the vast majority of my fellow Americans will likewise be better, far better off.
I'm old, and easily live within social security benefits. Also our kids are fine and really don't need a million dollar inheritance, so at the end of the Trump administration that million will just go to charity, with it will go a note: made possible because we didn't vote for Harris :)
@DomMan67 Well, extremism took Germany from what people of the era call the center of Western culture to a pariah, and it took time to rebuild.
And that's with people known to be logical, etc.
The fact that a segment of society here wants to purposefully march into a new "dark age" is so odd...denying intelligence, innovation, science...by using technology built upon applications of quantum mechanics...!
1929, 1987, 2008, 2020. Not a coincidence which party controlled the federal government every time the market takes historic dives. Not to mention recessions in 1958, 1973-74 and 1982.
It’s a fact that the market and economy are stronger during Democratic administrations.
One detail - Covid altered number from the normal course for both Trump and Biden. Had Covid not happened, I suspect a different outlook for Trump, and there would have been no Biden. Trump’s economy would have collapsed in his 2nd Term.
2. Administrations have far less to do with the overall economy than most people think.
3. Policies implemented by one regime are often reflected in the subsequent regime due to inherent lag in economic responses.
4. Throwing money at a perceived problem rarely (never) solves the underlying issue and often exacerbates the problems for future administrations. (The slinky effect)
@GerOttman 1. True, but we're talking about consistent correlations over decades when you look at all the data (which I'm putting together now).
2. Odd that DJT supporters think otherwise.
However, DJT's policies of economic terrorism ARE affecting the US NOW, and will likely change the median American's lifestyle far into the future, when the full effect of the global realignments he has forced our former allies, friends, etc., to undertake.
And under DJT, due to what DJT and the Republicans are doing to the country, right now, Moody's has downgraded the credit rating of our United States for the first time EVER.
That IS a realtime effect of DJT & the Republicans.
It will cost us in interest charges.
3. DJT's admin has forced out all manner of government workers. Right now, some are being paid big bucks TO DO NOTHING.
That is wasting OUR money by getting ZERO services for our money.
That's on him, as will be the bump in unemployment next January...
Just like his lack of support for Ukraine, in violation of our sworn treaty obligations, is killing Ukrainians and had made NATO allies shun us.
US leadership and standing in the international community is AGAIN a joke due to DJT & the extremists pushing all of this. We have become a cautionary tale.
4.
Throwing money at a perceived problem rarely (never) solves the underlying issue and often exacerbates the problems for future administrations.
You might want to review your economic history and how the government being the "consumer of last resort" helps the economy.
Some problems ARE about money. How about our decaying infrastructure? How about getting people educated / trained for gainful employment? How about having enough IRS agents to collect the taxes owed to all of us?
Do you think acting to downgrade our nation's credit will help future administrations?
@SomeMichGuy Look, I appreciate all the time and effort you put into this post. If anything this is the one thing about our current president I like best. People like you are actively engaged, reading, researching, formatting text!
To what end? When you tell me Trump is bad, what does that say about the democrats who let him win? What are they doing about it? A bunch of cherry picked data and deflections aren't going to change the fact that he won the election and the democrats were too busy stonewalling and virtue signaling to stop him!
If anything, I hope you and others like you stay the course. Don't change a thing, and you won't change a thing...
