Quote:
Originally Posted by Angry
Statistically a Dem pres is always best for the economy. I just threw that out ther so that you guys know what to do during the elections 2 years from now, (Put some Reps. in Congress!) But you are correct in your thinking. You want a Dem Congress if you have a Rep President.
|
I take MAJOR umbrage with this kind of reasoning - that a democratic president is better for the economy. This kind of pathetic, rudimentary analysis makes me feel ashamed of my fellow financial and economic analysts who put that crap out.
These morons simply take a look at GDP growth by year and line that up against the president who was in office at the time.
Well guess what, economic policies put in place by the president (but moreso the chairman of the Federal Reserve) take time to generate growth. You have certain policies/decisions that can act as an immediate shot in the arm, like an economic stimulus check. But then there are policies that take much longer to spur real wage and job growth because the policies are centered around encouraging investment. For example, lower income tax rates, lower corporate tax rates, expanded free trade agreements, flexible monetary policy, etcetera. All of these things take time to take hold.
Reagan's policies contributed to the growth we saw in the early 90's just as Clinton was taking office. Clinton's NAFTA policy had a positive impact on our economy from 2003-2006 while dumbass was in office.
Managing the economy is not a short term endeavor by any means, and trying to attribute economic growth to the president in office at the time is laughable and fundamentally wrong.