Democrat versus Republican Economic Records, 1981 to 2016

Over the last 35 years Democrats have been in charge for 15 years Republicans for 20. As Vice President Biden once said, “Past is prologue.” What then does the economic record of the last 35 years tell us about the future? A lot to anyone paying attention.

Reagan inherited stellar monthly job creation from President Carter of 218,000 per month. His economic and tax policies caused the Reagan Recession of 1982, then the 2nd greatest economic implosion in history. By the end of his 1st term Reagan had cut Carter's job creation number by more than half. The deficit exploded under Reagan and the debt tripled. His stacking of the labor relations boards devastated organized labor, a setback they have never recovered from. When he left office his average monthly job creation numbers were a mere 167,000, nearly 51,000 less per month than President Carter.

Reagan turned the reigns over to George H.W. Bush who rightly raised taxes that Reagan had cut to head off the stunning rise in the deficit and rapidly expanding national debt. But the damage done by Trickle Down was so great it only marginally reduced the ballooning debt. Bush I's policies created yet another recession and produced the lowest job creation numbers since Herbert Hoover.

Wild Bill took over, aggressively overturned much of Reagan's tax give-a-ways to the rich. Wild Bill balanced 5 budgets, which is 5 times as many balanced budgets as the prior 5 Republican Presidents combined. Clinton produced the greatest job creation numbers in recorded history, the greatest expansion in the stock market in recorded history, and the greatest increase in wealth in recorded human history. No recessions occurred under Clinton. His economic and tax policies produced the biggest surplus' in recorded history, $287 billion

George W. Bush, losing the popular vote by 597,897, was selected president by a partisan Republican Supreme Court. W re-installed Reagan's tax give-a-ways to the rich and by August of 2001 had taken the greatest surplus in history and driven us into the red. He embarked on the worst foreign policy blunder in history, the war of choice in Iraq, costing an estimated $6 trillion in spending, 4500 American dead and 10's of thousands of severely wounded soldiers. The occupation was perhaps one of the most stunning examples of ineptitude and abject failure in US history. His tax policies produced the greatest deficits in recorded history, $1.4 trillion in fiscal tear 2008-2009, and gave us The Great Recession, the 2nd greatest economic implosion in US history. His job creation numbers were the second lowest in history, 2nd only to Herbert Hoover (R). Bush has the dubious honor of having presided over 2 recessions a club exclusive to Republican presidents.

President Obama inherited an economy in free fall. Record deficits, record job losses and a culture of crony capitalism from his Republican predecessor. Obama saved the auto industry, which touches one of every 10 jobs in the US. He reversed the record job losses producing the greatest turn-a-round in that metric ever recorded. He cut the $1.4 trillion deficit by 2/3's an amount in raw numbers greater than every other president -combined.- His economic policies have produced the greatest increase in raw numbers of the DOW in recorded history, and in percentages second only to Wild Bill. His even hand and unblemished character and integrity have produced one of the most scandal free administrations in history. Compare that to the culture of corruption of George W. Bush or the 137 members of the Reagan administration that were under investigation, indictment and/or convicted of crimes.

And President Obama accomplished all this without a shred of co-operation, and in the bitter face of historic unprecedented Republican obstructionism.

One party has produced an 80 year record of unmatched economic success. The other a record of unmatched FUBAR, failure and foul-up. In 2016 we can choose to bet on the winning, undefeated horse or choose the sway backed, three legged pregnant nag that has never won a race. Choose wisely my friends.

 

 

President Obama, the greatest deficit reducer of all time

by mike kohr 5/1/2013

Super Deficit Reducer
-President Obama-

You'd never know this fact if all you listened to was the Chicken Little, sky is falling crowd, of Faux Gnus. And if all you listened to was the Nixon aide, turned right-wing propaganda huckster, Roger Ailes's, fact free network, you certainly would not be aware that President Obama's deficit reduction results would be even greater if the obstructionist Congress would allow the President to remove the biggest single contributors to today's yearly deficits, namely the George W. Bush era tax give-a-ways to the rich.   

Republicans ran the economy over a cliff, put in place spending and tax policies that exploded the debt, and then  after America elected Barack Obama as President, engaged in unprecedented obstructionism all the while crying that President Obama is not fixing their catastrophic failures quickly enough.

Most amazing in all this, is that on a political level, the Republican Party and Faux Gnus has succeeded. Most Americans are not aware that President Obama's economic policies have actually shrunk the yearly deficit both in raw numbers, and in relation to GDP, the only true way to examine the size of the national debt from administration to administration.

In the fiscal year 2008-2009, the last year of George W. Bush's budgets, the yearly deficit was $1.4 trillion dollars. According to the Congressional Budget Office (CBO) the upcoming 2014 deficit will :  "shrink this year to $845 billion, or 5.3 percent of gross domestic product (GDP), its smallest size since 2008."

Steve Benen of the Maddow Blog, notes that this is the fastest deficit reduction since the end of World War II and at the same time resulted in the strongest job creation in 8 years.

For the math impaired Republican Party and their hair on fire friends at Faux Gnus that is a reduction of $555 billion or a reduction of 40%. In raw numbers, -the misleading numbers that Faux Gnus uses- this is more deficit reduction than all other presidents in history combined.

Adversity presents opportunity, and President Obama, like every other Democratic President was presented with the opportunity to fix a failed economy from his Republican predecessor. President Obama has achieved historic accomplishment because in part he was presented with a a failure of epic proportions.

Republican criticism of the President is nothing more than they wishing to be the hero of their own self inflicted disaster.

sources: http://stuffthatmattersblog.com/2013/03/24/how-to-prove-obama-lowered-the-deficit-in-4-easy-steps/
http://maddowblog.msnbc.com/_news/2013/05/08/18127236-a-deficit-shift-the-gop-may-struggle-to-explain?lite 

INCOME GROWTH BY PARTY, 1948-2005

If there was ever one chart that summed up success of Democratic Bubble Up Economic policy, this is it.

The 95th percentile, or the top 5% of income earners in the country, do better under Democratic Economic Policy, as does EVERY other percentile. And Democratic Economic Principle performs vastly better as you descend the economic dogpile. Targeting tax cuts and investment to the benefit of the working people in this nation helps everyone in this nation.

Job Performance, Obama Versus Bush, -a microcosm of the last 80 years-

The above graph provides yet more documentation of the 80 year history of comparison of Democratic and Republican administrations on job growth. The red line documents private sector employment, the blue line government sector employment.

Under George W. Bush private sector employment DECREASED by 6oo,ooo jobs.
Under President Obama private sector employment INCREASED by  300,000 jobs.
Under George W. Bush government sector employment INCREASED by 1,700,000 jobs.
Under President Obama government sector employment DECREASED by 600,000 jobs.

While Republicans run on empty promises of smaller government and their imaginary ability to manage the economy their record always points in the opposite direction, big spending, pitiful job creation and massive deficit spending.

source material: http://www.motherjones.com/kevin-drum/2012/08/bonus-chart-day-public-vs-private-employment-under-bush-and-obama

ROMNEY IS RUNNING FOR GEORGE W. BUSH'S 3RD TERM, here's the graph

You are reading this right. There is nothing wrong with your eyes. Under Romney's plan, millionaires and billionaires will pay less in taxes while the poor will pay more. On the bright side the middle class would get a few meager crumbs.

 Romney is doubling down on the same tax policies that brought us a decade of no job growth, $9.3 trillion in National Debt, and plunged the nation into the second greatest economic free-fall in history.

source: http://www.cbpp.org/cms/index.cfm?fa=view&id=3695

Given the failed record of Trickle Down Economics why would Romney continue to insist on massive tax-give-aways to multi-millionaires like himself? The answer lies close to one of his many homes.

Willard Romney. he's not one of us. He never has been. He never will be.

Why Does Mitt Romney Like Firing People? Because He Made $20,000 On Every Laid-Off Worker

Why Does Mitt Romney Like Firing People? Because He Made $20,000 On Every Laid-Off Worker
June 15th, 2012 10:35 pm Axel Tonconogy

Mitt Romney would prefer for you to recall just one number regarding his record at Bain Capital. That would be 100,000 — the number of jobs that the Republican candidate claims he created during 15 years at the private equity firm.

But now there is a more interesting, plausible and relevant number: $20,000. That’s how much money Romney is estimated to have made from each worker laid off during Bain’s many corporate takeovers.

• American Pad & Paper: Bain invested $5 million in the Ohio paper company in 1992, and reportedly collected $100 million in dividends on that investment. But AMPAD went bankrupt in 2000, resulting in 385 employees losing their jobs.

• Dade Behring: Bain invested $415 million in a leveraged buyout in 1994, borrowed an additional $421 million, and ultimately walked away with $1.78 billion. Dade filed for bankruptcy in 2002, and laid off 2,000 employees.

• DDI Corporation: Bain reportedly invested $46.3 million in the electronic parts manufacturer 1997, earning $85.5 million in profits plus $10 million more in management fees. When the company went bankrupt several years later, 2,100 workers were laid off.

• GS Industries: In 1993, Bain invested $60 million in the Kansas City steel maker, borrowed a lot of money, and then took $65 million in dividends. But GS eventually went bankrupt in 2002, and 750 workers lost their jobs and pensions.

• Stage Stores: Bain invested $5 million to purchase the Houston-based retailer and took it public in the mid-’90s, reaping $100 million from stock offerings. In 2000, following Romney’s departure from Bain, Stage filed for bankruptcy and 5,795 workers were reportedly dismissed.

While it is true that some of those companies went under after Romney had left Bain, the job growth for which he now seeks credit also occurred after his departure in 1999. But the bankruptcies — and the bust-out scenario that helped Bain to profit anyway — are not news. What AOL’s Daily Finance has contributed to the Bain debate is a simple calculation: Bain Capital booked $1.995 billion in profits from the layoffs of 11,030 workers at various firms. And by that scoring, Romney earned roughly $20,000 himself for each of those fired employees. Nice work if you can get it (or take it away from someone else).
 
read full article:
http://www.nationalmemo.com/why-does-mitt-romney-like-firing-people-because-he-made-20000-on-every-laid-off-worker/

Trickle Down Has Never Worked. Not Once.

It added $9.2 trillion to the national debt.
see: http://bureaucountydems.blogspot.com/p/national-debt.html

It's produced less than 1/2 the job growth of Democratic Bubble Up Economic Principle. see: http://bureaucountydems.blogspot.com/p/job-growth.html

It's been in place for 4 of the last 4 recessions including 2 of the 3 greatest economic downturns in our nation's history.
 see: http://bureaucountydems.blogspot.com/p/history-of-recessions.html

It's produced the greatest income inequality in history. see: http://bureaucountydems.blogspot.com/p/income-inequality-99-versus-1.html

Romney is doubling down on the very economic principles that have all but killed the middle class and swelled the ranks of the poor. We should remember the record of the principles he champions.

Yet More Graphs Showing It's Not Spending, It's Revenue That Is Causing the Problems

The Bush tax give-a-ways to the rich remain today the greatest driver of today's national debt. When Republican's wax indignant about todays deficits and blame "out of control spending," call bullshit. Cause that's what you are hearing.

We are spending less per capita today than at any time since 1954, when the top tax rate was 90%. Reagonomics promised us that lower tax rates on the uber rich would produce rapid job creation and increased revenues. What they produced was a decade of no job growth, unprecedented income inequality, massive deficits, and 4 of the last 4 recessions, including 2 of the deepest economic downturns in our nation's history, the Reagan Recession of 1982 and the George W. Bush Great Recession of 2007-2009. Again proving the maxim that only two things grow when Republican economic and tax policies are in effect, unemployment and the national debt.

see also: http://bureaucountydems.blogspot.com/p/national-debt.html (see 5th graph)
               http://bureaucountydems.blogspot.com/p/history-of-recessions.html
               http://bureaucountydems.blogspot.com/p/income-inequality-99-versus-1.html

Debunking the Republican Talking Point of Blaming Democrat Control of the House For the National Debt

-When Republicans blame Democrats for their economic incompetence it sounds like bullshit because it is bullshit-

by mike kohr 4/4/2012

http://en.wikipedia.org/wiki/File:Federal_Debt_1901-2010.png

The complex chart above gives a great insight into the timeline of our National Debt. Click on it and expand the view and spend some time tracking the increases and declines. The chart is Debt compared to GDP the only true way to track National Debt.

A snap shot analysis shows 5 major spikes in growth of the National Debt:

1). 1915-1919, Democrat House and President, Cause: WW I
2). 1933-1945, Democrat House and President, Cause: Republican gifted Great Depression & WW II
3). 1981-1993, Democratic House and Republican Presidents, Cause: Trickle Down Economics
4). 2001-2009, Republican House and Republican President, Cause: Trickle Down Economics
5). 2009-2012, R/D House, Democratic President, Cause: Republican gifted Great Recession and Trickle Down Economics.

Major Declines in National Debt:
1). 1919-1932, Republican House and Republican President, Result: The Great Depression
2). 1946- 1981 Democratic House and D/R Presidents. Result: Greatest pay down of debt in history
3). 1993-2000, D/R House and Democratic President. Result: Greatest economic boom in history.

A summary of the evidence is clear: debt is caused NOT just by spending but also by tax and economic policy, economic downturns, and war. Yet of the 5 spikes in National Debt, 4 have been caused Republican economic policy including nearly all of the most recent increases in National Debt.

Only 1 of the 5 spikes in National Debt occurred for reasons other than Republican economic policy and that was the spike of 1915-1919, caused by WW I.

Republicans are currently trying to deflect blame for the $9.2 trillion in debt ran up by the last 3 Republican presidents by blaming Democrat's control of the House of Representatives. The record of the last 100 years shows clearly that the single biggest pay down of National Debt occurred under the longest control of the House by Democrats, 1945-1981, and that steady record of fiscal responsibility was only broken by the advent of Reagan's budget busting Trickle Down Economics of tax give-a-ways to the rich.

When Republicans blame Democrats for their economic incompetence it sounds like bullshit because it is bullshit.