VOTE DEMOCRAT IF YOU WANT A HEALTHY ECONOMY

History proves the wisdom of the admonition in my title.

Various statistical sets demonstrate that throughout American history, the economy had fared better under Democratic Presidents and Democratic Congresses.

That is the essence of this article in Huffington Post by Eric Zuesse. http://www.huffingtonpost.com/eric-zuesse/mitt-romney-bain-a-look-a_b_1594319.html

Zuesse examines the lies the GOP promulgates to claim the nation would be better off economically under its watch. The facts easily put the lie to that claim.

For instance he dissects the allegation by Mitt Romney that his tenure at Bain Capital resulted in the creation of over 100,000 jobs. Most analysts have declared this assertion is impossible to track due to the nature of Bain’s involvement which varied from deal to deal.

But Zeusse narrows the focus to jobs created with the success of Staples, the office supplies behemoth. He notes that while Staples was growing, overall employment in the office supplies sector dwindled.

The U.S. Bureau of Labor Statistics has published throughout the 22-year period from 1990-2012 the number of employees working in this retail segment: They’ve tracked the “Production and Nonsupervisory Employees” in “Office Supplies and Stationery Stores.” This 22-year period fortunately covers virtually all of the direct jobs-impact that actually resulted from Bain’s success in its Staples investment – both the jobs-created and the jobs-lost, from the office-superstore phenomenon that Staples pioneered. These data show that, during this 22-year period, the number of employees in this segment declined by about ten thousand until 1993, then increased 50,000 under Bill Clinton (when 19 million private nonfarm jobs were being added to the nation’s economy, so this sector was adding jobs at only one-quarter the rate the national economy was), then lost 60,000 jobs from 2000-2012. There was a net loss of 13.5% or 18,000 jobs throughout this retail field, during this 22-year period in which Staples was adding jobs continually. In this 22-year period, the entire national economy increased employment 46%; so, Staples’ superstore model was simply decimating employment in its field.

 
Furthermore while during that same period wages grew by 71%, the Consumer Price Index advanced 78% which means that, despite booming productivity, the workers in this field earned less over 22 years.

But there’s still more here: Romney also says that Republicans in power have better economic ideas, and will be better for the economy, than Democrats. What does the actual historical record show, regarding such questions? Have Republicans in power actually improved the economy more, or instead perhaps less, than Democrats in power?

Let’s focus on the stock market, because many people think of that as the Republican Party’s particular economic strength.

It turns out the stock market has consistently realized better gains under Democratic leadership than under Republican stewardship.

Zuesse relies on a number of sources and reports, issued at different times, that are unanimous in their conclusions. Democrats are better for the stock market.

And it’s not just the stock market either.

These and other studies have also found similar differences regarding economic growth, unemployment, average length of unemployment, inflation, federal debt, and other economic indicators. In all cases, during Democratic and Republican presidencies and congresses, the economic trend-lines have been stunningly better when Democrats were in power, than when Republicans were. No finding, anywhere in the social sciences, is more consistent than this finding: the difference is so great, they’re not even close.

Zuesse also chides the Mittster for promoting the notion that only a successful businessman can properly shepherd the nation’s economy from the Oval Office. Then again, Harry S Truman did own a haberdashery.

So remember this as you run the gantlet of Photo ID checkers this November,

To vote for a Democrat is to help the U.S. economy.

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Comments

  • little_minx  On June 15, 2012 at 10:13 AM

    Not to go all picky on you, but Harry S Truman only CO-owned a haberdashery — and more significantly, the business FAILED! Truman didn’t achieve professional success until he got involved in KC area Democratic politics, dominated by the renowned/notorious Pendergast Machine.

    The last President with a successful career in private business was Herbert Hoover, who for nearly 3½ years applied that philosophy to the Great Depression — which, instead of improving conditions, dug the nation even deeper into it. BTW, one of my grandfathers persisted in saying “Boulder Dam” after it was renamed Hoover, because he claimed that HH was not only a lousy President but even a crappy engineer 😉

    • umoc193  On June 15, 2012 at 1:49 PM

      Notice I only said Truman owned, not successfully owned his haberdashery. And I included him since he was a Democrat who, though a businessman, was not known for his brilliance there but is considered one of our better Presidents.

      On the other hand, Dubya is sometimes called a successful businessman but he only personally profited due to his connections, not his own skills. And of course he ruined the economy.

      Did you happen to read about or see clips of Jamie Dimon’s appearance before the Senate committee? Reps falling all over themselves trying to blame JPMorgan’s problems on over regulation. Stewart highlighted that last night.

  • little_minx  On June 15, 2012 at 3:28 PM

    Dimon’s appearance was unavoidable on the news. No cable, so don’t see Stewart (or Colbert).

  • little_minx  On June 15, 2012 at 4:59 PM

    The significant differences between Truman and W are that Truman came from modest origins and really and truly was in business — whereas W was born with even more of a silver foot in his mouth than his Poppy was, and his private-sector jobs were concocted by Poppy’s cronies.

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