How much Democrat and Republican Presidents have influenced economic development? A simple question with no easy answers
In the Economist, a single simple video of how under Democratic Presidents have influenced stockmarket value got me thinking, How about other more ‘populist’ economist indexes (like, like, you know! Unemployment and Poverty), have behave under Democratic or Republican presidents.
Poverty rate: Under the Democrats from 1969 to 2011, poverty rate decrease 1.7%, and Republican presidents increased 2%.
Unemployment rate: Under the Democrats from 1969 to 2011, unemployment rate decrease 3.3%, and Republican presidents increased 5.2%.
This gains by democrats do not take into account Republican were more years in the White House (15 years versus 28 years), which would favor democrats because they had less time to move the trend up-or-downwards. Of course, most gains in both indexes have been under Clinton, the most successful ‘economic president’ to date.
This takes us to the fundamental philosophy question of what came first, the egg of the chicken. One can not attribute this success exclusively to Clinton or Obama (Carter actually increased both unemployment and poverty rate), or willingness to tackle problems, or the most overused phrase in politics:”I didn’t do it, my predecessor did…”. But it is nonetheless very, very, very interesting and worthy of a profound exploration.