US Economy Grows Better Under Democrats
As the Ranking Member of the Joint Economic Committee, I recently shared with the House of Representatives some very interesting research about economic growth and trends under Democrat and Republican presidents.
While many Republicans often claim that their party manages the economy better than their Democrat counterparts, the data tells a different story.
Research by economists Alan Blinder and Mark Watson finds that by virtually every measure of economic health – including GDP growth and job creation – the economy has performed better during Democratic administrations than Republican ones.
Following this research, my staff on the Joint Economic Committee updated and expanded the data, finding that on average since World War II, real (inflation-adjusted) GDP has grown about 1.6 times faster under Democrats than under Republicans and that private-sector jobs have grown nearly 2.5 times faster under Democrats.
While we cannot fully attribute the gap in economic performance to policy choices, these facts clearly and unequivocally contradict the usual Republican claims. Numbers don’t lie, and these numbers show that economic growth and job creation have been stronger when a Democrat has been President.
CAROLYN B. MALONEY
Member of Congress
Crain's New York: Sorry, GOP, The Economy Has Done Better Under Democratic Presidents
My recent opinion article in Crain's New York discusses the research that shows by virtually every measure of economic health—including gross domestic product growth, job creation and industrial production—the economy has performed better during Democratic administrations than during Republican ones.