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dcnovice -> Are Democrats Better for the Economy? (10/8/2008 4:54:56 PM)
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Yes, argues Kevin Drum in the latest issue of The Washington Monthly (no link, alas). He draws on the work of economists studying "political business cycles" as well as Princeton political scientist Larry Bartels.
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Democratic presidents consistently produce higher growth rates, lower unemployment, better stock market growth, and less income inequality than Republican presidents. Nobody quite knows why, but the results are surprisingly robust.
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Add up growth rates under Democratic administrations, and you get a higher number than under Republican administrations. Ditto for employment levels. Inflation rates are about the same. Do it again with lag times, since presidents inherit economies from their predecessors, and you get the same result.
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Annual economic growth is over a point higher under Democrats than Republicans. Unemployment is more than a point lower. Income growth among poor families is two points higher, among the middle class a point higher, and even among the rich about 0.2 percent higher.
Food for thought.
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