Great article here out of The Milwaukee Journal Sentinel comparing economies under GOP presidents versus economies under Democratic presidents. Here's a few snippets....
The wild stock market ride of recent weeks does not compare to the two worst stock events, the crash of 1929 and the 1987 free fall, which also occurred under Republican administrations. Since 1900, Democratic presidents have produced a 12.3% annual return on the S&P 500, Republicans only 8%. Gross Domestic Product growth since 1930 is 5.4% for Democratic presidents and 1.6% for Republican presidents.
Bush presided over the loss of 2 million American jobs in his first 2 1/2 years and has net gained 5.6 million in six years, the worst since Hoover. Clinton created 23 million jobs.
Contrary to opinion, we do not have record high stocks. It would take 14,300 for the Dow Jones industrial average just to match for inflation the 11,750 under Clinton in 2000. We're now around 13,000, meaning, in real terms, a stagnant market with a loss for the past six years.
You see...the problem with the GOP and their wingnut brigade of supporters is that they don't tell the truth. They say stuff over and over until what they repeat becomes an infectious viral meme our brains can't shake. But what they say is a lie. It always is. Tax cuts, primarily directed at the rich, don't "pay for themselves". Tax cuts mean there is less revenue generated. It's ridiculous to believe otherwise. We know it's ridiculous, but because of the non-stop GOP meme spinning machine, folks begin to doubt even the very obvious. It's really kind of insidious and I'm afraid, because of the success this tactic has found, we can expect a lot more of it.
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