Republican Presidents Are a Disaster for the Economy @alternet

Republican Presidents Are a Disaster for the Economy @alternet:

"Princeton economists Alan Blinder and Mark Watson found in 2013 that since World War II, the economy performed significantly better under Democratic presidents, regardless of the measurement used. For example, Democratic presidents average 4.35 percent Gross Domestic Product (GDP) growth. Under Republicans, it was 2.54 percent. Democratic presidents presided over higher stock market returns and corporate profits, greater compensation growth and productivity increases. Economist Steven Stoft analyzed 72 years of jobs data from the U.S. Bureau of Labor Statistics, during which Democrats controlled the White House for 36 years and Republicans for 36 years. He found that 58 million jobs were created under Democrats and 26 million under Republicans. That means Democratic presidents created more than twice as many jobs. Significantly, because Trump is telling African-Americans how horrible their lives and their communities and their schools are, and how great he would be as a Republican president for them, a study published by the American Political Science Association found that that over 35 years of Republican presidents, black unemployment rose 13.7 percent. On the other hand, over 22 years of Democratic presidents, black unemployment fell 7.9 percent. And here’s another noteworthy fact as Trump runs around claiming he’s going to bring manufacturing back, even though he manufactures his own signature suits and ties and shirts offshore in places like China and Mexico and Bangladesh: Democrats create manufacturing jobs; Republicans destroy them. Bloomberg news service analyzed data from the past eight decades and found manufacturing jobs increased under each of the seven Democrats and decreased under the six Republican presidents. Even as employment expanded, manufacturing jobs declined under Republican presidents. The largest losses occurred under Reagan and the two Bushes – an average of 9 percent. Republicans are bad for jobs. They’re bad for manufacturing. They’re bad for the GDP in general."