SALON
Monday, May 4, 2015 02:58 PM EDT
Republican presidents flunk the economy: 11 reasons why America does worse under the GOP
The data is unequivocal: The economy performs far better under Democrats than Republicans. Here's why
Topics:
Hillary Clinton,
2016 Elections,
Economics,
Ronald Reagan,
Barack Obama,
The Republican Party,
The Democratic Party,
economic policy, News, Politics News
Consider
the following fact: The last time a Republican president created an
average of 1 million jobs a year over the course of his presidency was
nearly three decades ago, under Ronald Reagan. When the the 2016
election comes around, a full 44 percent of voters will have entered the
workforceafter that period of time. Then consider that Barack Obama has created 7.35 million jobs since
taking office, and will almost certainly cross the million-per-year
threshold. And that, for many Americans, the last time the economy was
working for them was under Bill Clinton.
As the chart below (using data from the Economic Policy Institute) shows, the last time Americans at the bottom of the income distribution had a raise was during the sustained employment growth under Bill Clinton.
The conclusion? If Democrats want to win the White House, they need to promote a progressive, pro-jobs agenda.
I’ve previously discussed the rather large body of research suggesting that not only does the economy perform better under Democrats, it tends toperform better for everyone under Democrats. People of color do far better in terms of employment, incarceration and income growth when a Democrat is in office. The incomes of the poorest tend to increase more rapidly as well. Both effects are likely tied to two major policies: First, Democrats tend to preside over lower unemployment rates; and, second, they are far more likely to raise the minimum wage. There are other factors at work, of course: I’ve noted how market conditioning (things like regulatory policy) can change outcomes as well. But another major factor is that the key to increasing the bargaining power of workers and creating a more racially just society is jobs. And progressive policy creates jobs.
Sean McElwee's writing may be viewed at seanamcelwee.com. Follow him on Twitter at @seanmcelwee.
As the chart below (using data from the Economic Policy Institute) shows, the last time Americans at the bottom of the income distribution had a raise was during the sustained employment growth under Bill Clinton.
The conclusion? If Democrats want to win the White House, they need to promote a progressive, pro-jobs agenda.
I’ve previously discussed the rather large body of research suggesting that not only does the economy perform better under Democrats, it tends toperform better for everyone under Democrats. People of color do far better in terms of employment, incarceration and income growth when a Democrat is in office. The incomes of the poorest tend to increase more rapidly as well. Both effects are likely tied to two major policies: First, Democrats tend to preside over lower unemployment rates; and, second, they are far more likely to raise the minimum wage. There are other factors at work, of course: I’ve noted how market conditioning (things like regulatory policy) can change outcomes as well. But another major factor is that the key to increasing the bargaining power of workers and creating a more racially just society is jobs. And progressive policy creates jobs.