Tuesday, November 8, 2022

Republicans v Democrats on the economy

According to a wave of recent polls, the economy is the dominant issue on the minds of Americans.

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[E]very bit of available evidence makes clear that the GOP is the wrong party to which to turn if you seek better U.S. economic performance in the future.

In fact, it is not close. When it comes to the economy, the GOP is the problem and not the solution. If anything, it is a greater obstacle to our economic well-being today than it has ever been.

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At the same time, the economic record of President Joe Biden and the Democrats is not just consistent—in creating jobs, reducing the deficit, and enhancing our competitiveness—during the past two years their record has been one of extraordinary, often record-breaking success.

  Daily Beast
I don't know about mainstream media, but I sure don't see much about this where I go on the internet, which is mostly political sites - and not conservative ones.
Ten of the last 11 recessions began under Republicans. [...] Meanwhile, historically, Democratic administrations have overseen recoveries from those Republican lows.

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Republicans have also historically presided over huge expansions in the U.S. deficit, while Democrats (since Bill Clinton’s administration) have overseen dramatic deficit reduction.

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Of the 14 presidents since World War II, seven were Democrats and seven were Republican. Of the seven with the highest job creation rates, six were Democrats. Of the seven with the lowest job creation rates, six were Republicans.

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Biden and the current Democratic Congress have created more jobs than the past three Republican administrations combined.

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Inflation is a global problem that is related, according to economists, primarily to supply chain problems associated with COVID, Vladimir Putin’s escalation of the war in Ukraine, and corporate profiteering.

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What makes the Republican focus on this issue so shockingly hypocritical is that Trump’s mismanagement of the COVID crisis, his support for Putin, and Republicans’ protection of Big Oil (and big businesses) actually helped create the conditions that have driven prices up. Further, Republicans unanimously opposed every single measure by the Biden administration to reduce prices and help those hit by inflation.

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At the same time, a substantial majority within the GOP have sought to block virtually every single new economic measure proposed or passed by Biden and the Democratic Congress. That includes the America Recovery Act that lifted millions out of poverty and drove job creation, the Chips and Science Act to enhance competitiveness, and even the so-called “Bipartisan Infrastructure Bill” which garnered the support of fewer than half of the GOP caucus in the Senate.

You might assume that if the GOP opposed these initiatives but were critical of what Biden was doing, that they had alternative plans that they have presented to the American people. But, you would be wrong.
Continue reading.

...but hey, do what you want...you will anyway.

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