Presidential economics, 2004 vintage
Mike Tomasky writes with some surprise in The Daily Beast (“The 24 and the 42 million, and Basic Competence”) that both the job market and the stock market have done better under Democratic presidents than under Republican. He comments: “ And yet, no one in America knows. No one.”
That’s not true. Subscribers to Left Business Observer knew that years ago. I first reviewed the post-World War II record of the two parties in 1996, and updated the study in 2004. The results: Dems are better for growth in both jobs and GDP, and for stock returns as well. Reps are better for the bond market and excel at getting inflation down.
I’m too lazy to turn the 2004 article into a web posting, but I’ve posted a PDF of that issue of LBO. I will be updating the numbers in October, just before the election.
Note: LBO has been on hiatus for several months now. But it’s coming back very soon. Subscribe now and mention this post in the comments field and your first issue is free.
Here’s the issue. “Presidential economics” begins on p. 3.