Monday, January 20, 2014

Democratic Economic Policies Work

(In answer to one of these annoying forwards.)
Historically, the economy does better under Democratic Presidents than Republicans. Think about it. There was Hoover, who presided over the beginning of the 1930s depression, and then the two great borrow-and-spenders Reagan and Bush II. Bush II presided over the beginning of what is turning out to be the worst depression in US history. On the other hand, FDR presided over a decent recovery, and Truman, JFK, LBJ, and Clinton presided over prosperous times. Obama, embarrassingly, makes economic policy like a Republican, and we are now in a depression likely to dwarf that of the 1930s.

Democratic economic policies work better than Republican economic policies. I believe this is because they are closer to Keynesian macroeconomic reality.

(Reference, though not scholarly: Bulls, Bears, and the Ballot Box.)

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