How, how, how do the Republicans continue to make the claim (and be believed by at least some people) that the Democrats are the fiscally irresponsible party? This interesting article looks at economic data going back to 1948. Here is one juicy tidbit:
Data for the whole period from 1948 to 2007, during which Republicans occupied the White House for 34 years and Democrats for 26, show average annual growth of real gross national product of 1.64 percent per capita under Republican presidents versus 2.78 percent under Democrats.
That 1.14-point difference, if maintained for eight years, would yield 9.33 percent more income per person, which is a lot more than almost anyone can expect from a tax cut.
I’ll just say right off the bat that I am not qualified to interrogate these numbers, but I assure you Princeton University Press did.
shows that the wealthy top 20% of families do BETTER with dems and that the lowest 20% suffer GREATLY at the hand of Republican adminstrations. (Think marginal dollars here people — what is the marginal utility of the next dollar to a family of 4 whose income is going from $30,000 to $30,001 versus the marginal utility of the dollar for someone whose family income is going from $200,000 to 200,001). Attention rich people: YOU WILL DO BETTER IF WE ELECT BARACK OBAMA.
Yes, this is all high quality peer-reviewed data adjusting for inflation, cost of living and all of that. And, it confirms what anyone who lived through Bush-Clinton-Bush intuitively knows. (EVEN WHEN you throw in the Reagan and Carter years which are the outliers in this thesis).
So how do they get away with claiming that the Dems will make us worse economically? Seriously — watch them say it over and over and over in the debates. I hereby reclaim this argument for the democrats. Want a good economy? Want lower taxes? Want your family income to grow? Elect a democrat. His name is Barack Obama.