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The Last Time America Had A Republican President Not Named Donald Trump The Economy Crashed

  
By:  John Russell  •  2 years ago  •  24 comments


The Last Time America Had A Republican President Not Named Donald Trump The Economy Crashed
I honestly dont know what an objective rationale would be for insisting that the Republicans be given control now. Trump had a successful economy prior to the pandemic wiping him out on that front, but according to many on the right, Trump is out of the picture these days. Frankly, putting Trump back in power for ANY reason would destroy our society, which would make economic questions moot. 

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I'm not sure what the argument is that the Democrats have to be dumped and the Republicans need to be put in power on the economy. For one thing, unless the GOP retakes the senate majority, they will have a very limited ability to negotiate with the Biden administration to advance Republican ideas on the economy. But the better argument for keeping the Democrats in charge is that the Republicans dont do any better on the economy, and sometimes do worse. The last GOP president not named Trump presided over the biggest calamity for the US economy since the great depression, the crash of 2008. 

Republicans are perhaps best known, in terms of economics, for two things, lowering taxes on the wealthy and promoting the discredited "trickle down theory" of the economy which argues that letting the rich get richer is a good thing because then they will create more opportunities for the peons beneath them. 

One of the best economies in recent memory came when Bill Clinton was president, and President Obama gradually led the economy to good improvement even though he was left with the wreckage that befell the country the last year or two of the Bush II administration. 

I honestly dont know what an objective rationale would be for insisting that the Republicans be given control now. Trump had a successful economy prior to the pandemic wiping him out on that front, but according to many on the right, Trump is out of the picture these days. Frankly, putting Trump back in power for ANY reason would destroy our society, which would make economic questions moot. 

So let's be patriotic pro-Americans and assume Trump is in the garbage heap of politics for all time. Just what is it about the other Republicans that gives them some mojo to fix the economy? They all claim that the good Trump economy was all his doing, he was a god in that realm based on his personal know how, which cannot be imparted to, say Ron De Santis. For all we know DeSantis could drive the economy into the ditch the same way George Bush Jr. did. 

In these times, with the future of democracy, and national sanity, on the ballot, just blindly saying elect election denying Republicans because "economy" makes very little sense to objective people. 


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JohnRussell
Professor Principal
1  author  JohnRussell    2 years ago

The Party That’s Actually Best for the Economy

Many analyses look at which party is best for the economy. A study from the National Bureau of Economic Research found that Democratic presidents since World War II have performed much better than Republicans. On average, Democratic presidents grew the economy by 4.4% each year versus 2.5% for Republicans. 4

A study by Princeton University economists Alan Blinder and Mark Watson found that the economy performs better when the president is a Democrat. They report that “by many measures, the performance gap is startlingly large.” Between Truman and Obama, growth was 1.8% higher under Democrats than Republicans. 5

A Hudson Institute study found that the six years with the best growth were evenly split between Republican and Democrat presidents.

 
 
 
Sean Treacy
Professor Principal
1.1  Sean Treacy  replied to  JohnRussell @1    2 years ago

The economy is staggering under this democratic president  and this democratic controlled congress.  Arguing for   Giving  this failure of a president and congress greater opportunity to fail because the economy performed well generations ago under people who are now dead is desperate indeed. 

 
 
 
JohnRussell
Professor Principal
1.1.1  author  JohnRussell  replied to  Sean Treacy @1.1    2 years ago

Arguing to put the Republicans in charge makes no objective sense. 

The tie breaker in this election should be the profound damage anti-democracy right wing extremists is doing to the fabric of our society. 

 
 
 
Texan1211
Professor Principal
1.1.2  Texan1211  replied to  Sean Treacy @1.1    2 years ago
The economy is staggering under this democratic president  and this democratic controlled congress.  Arguing for   Giving  this failure of a president and congress greater opportunity to fail because the economy performed well generations ago under people who are now dead is desperate indeed. 

What's the matter--don't you like a tanking stock market and high inflation?

I wonder if unemployment is still so low because so many people are working two jobs?  (/s)

 
 
 
JohnRussell
Professor Principal
1.1.3  author  JohnRussell  replied to  Sean Treacy @1.1    2 years ago

I have zero confidence in either Kevin McCarthy or Mitch McConnell to improve the economy based on their own ideas. Their is no factual basis to put faith in them. 

 
 
 
Sean Treacy
Professor Principal
1.1.4  Sean Treacy  replied to  JohnRussell @1.1.3    2 years ago
n either Kevin McCarthy or Mitch McConnell to improve the economy based on their own ideas

Simply stopping Joe Biden's handlers  from doing more damage is all the "idea" anyone needs to be an improvement. 

 
 
 
Just Jim NC TttH
Professor Principal
1.1.5  Just Jim NC TttH  replied to  JohnRussell @1.1.1    2 years ago

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Drinker of the Wry
Junior Expert
1.1.6  Drinker of the Wry  replied to  JohnRussell @1.1.3    2 years ago

I have little confidence in either Party or the short-term impact that Congress has on the $25 trillion US economy.  These kind of articles are very simplistic and try to show a cause and effect instead of putting forth a economic model with a high R factor when viewing government induced variables. 

 
 
 
JohnRussell
Professor Principal
1.1.7  author  JohnRussell  replied to  Drinker of the Wry @1.1.6    2 years ago

The article, and I should know because I wrote it, concerns the rationale for electing extremist Republicans to office based on "the economy".  In my opinion there isnt any. Were there a guarantee that putting Kevin McCarthy in charge of Americas economic decisions would be a cure all , maybe there would be something of a case to be made. But I dont believe that is the case. 

 
 
 
Greg Jones
Professor Participates
1.1.8  Greg Jones  replied to  JohnRussell @1.1.1    2 years ago
"The tie breaker in this election should be the profound damage anti-democracy right wing extremists is doing to the fabric of our society."

You can't even define what that "profound" damage is or who those extremists are.

 
 
 
Ronin2
Professor Quiet
1.2  Ronin2  replied to  JohnRussell @1    2 years ago

WTF we are in a recession now with high gas prices, inflation, crime, and a wide open southern border! This is with Democrats controlling the White House and Congress!

Why the fuck would anyone vote for a damn Democrat now!

 
 
 
JohnRussell
Professor Principal
1.2.1  author  JohnRussell  replied to  Ronin2 @1.2    2 years ago

Why would anyone vote for a Republican when 40% of their candidates across the country deny who won the last presidential election?

 
 
 
Texan1211
Professor Principal
1.2.2  Texan1211  replied to  Ronin2 @1.2    2 years ago
WTF we are in a recession now with high gas prices, inflation, crime, and a wide open southern border! This is with Democrats controlling the White House and Congress!

I suppose some can ignore the reality and keep voting for the party in charge.

Remember, we can now just redefine words to suit political parties.

 
 
 
Ronin2
Professor Quiet
1.2.3  Ronin2  replied to  JohnRussell @1.2.1    2 years ago

Because Democrats are promising to fuck this country up even more than they already have!

In case you missed it still on the Democrat agenda after they have already weaponized the IRS, FBI, and DOJ against their political opponents:

  • nationalizing elections (fuck the Constitution, Democrats know what is best for everyone everywhere. Especially if it means them keeping power forever.);
  • ending the filibuster (because compromise is just too damn difficult for fascist Democrats)
  • and stacking the Supreme Court (Can't get their way all the time with 9 justices; so how about 15?)

We only have a two party system. Right now the Democrats are the ones destroying this country. Time to remove them from power. Don't worry the Republicans will fuck things up soon enough because they are the other side of the same coin; and then Democrats will be back in control.

 
 
 
Texan1211
Professor Principal
2  Texan1211    2 years ago

I find any claim that Biden and his handlers are doing the economy any good to be highly suspect at best.

 
 
 
Just Jim NC TttH
Professor Principal
2.1  Just Jim NC TttH  replied to  Texan1211 @2    2 years ago
highly suspect

You spelled bullshit wrong

 
 
 
Texan1211
Professor Principal
3  Texan1211    2 years ago

It is pretty hard to make a case for Biden to get reelected based on the economy. We have inflation not seen for 40 years despite a robust jobs market.

What policies of the Biden Administration have led anyone to think he is doing a good job on the economy?

 
 
 
Nerm_L
Professor Expert
4  Nerm_L    2 years ago

Hmm ...  I seem to recall that same Republican President was handed a recession by his Democrat predecessor, too.  But few seem to remember that; maybe because the recovery was fairly quick.

Recessions, economic downturns, and even economic crashes seem to repeat themselves under both Republican and Democrat Presidents.  The real distinction between the two is how the economy recovers.  And history does show that Democrats don't handle an economic recovery nearly as well as do Republicans.  Democrats seem to focus their attention on throwing money around in a populist manner.  Republicans seem to focus attention on getting the economy running again which naturally involves business and commerce.

It seems the problem of self-medication by Democrats is the side effect of memory loss.  Maybe that's why Democrats don't know where they've been or where they're going.  Democrats seem to just wander around the political stage until they have to be led off to get them out of the way.

320

 
 
 
Ender
Professor Principal
4.1  Ender  replied to  Nerm_L @4    2 years ago

A lot of words just to say nothing.

 
 
 
Nerm_L
Professor Expert
4.1.1  Nerm_L  replied to  Ender @4.1    2 years ago
A lot of words just to say nothing.

Democrats over reliance on myopia is all too evident in their telling of history, such as with this article.  Democrats focus their attention on economic downturns, recessions, and economic crashes.  But Democrats completely ignore the economic recovery in their partisan mythology.

Recessions of varying magnitude happen often enough that Democrats, by now, should have figured out how to manage a recovery.  But it seems economic recovery under Democrats always seems to favor the rich while the rest of the country struggles.  

 
 
 
Ender
Professor Principal
4.1.2  Ender  replied to  Nerm_L @4.1.1    2 years ago

Hahaha

Democrats this, Democrats that...only one party ever to blame for anything...

The fact that Bush left us in a disaster seems to escape all of you.

 
 
 
Greg Jones
Professor Participates
4.1.3  Greg Jones  replied to  Ender @4.1.2    2 years ago

It wasn't Bush' fault

 
 
 
Ender
Professor Principal
4.1.4  Ender  replied to  Greg Jones @4.1.3    2 years ago

So basically you all are going to claim Biden is at fault for every perceived slight yet a republican president isn't at fault. It was all others....

There is a word for that...

 
 
 
Tessylo
Professor Principal
4.1.5  Tessylo  replied to  Ender @4.1    2 years ago

That's always the case with Nerm.

 
 

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