Tuesday, February 20, 2007

How does the economy do under Democrats vs. Republicans

Kevin Drum has a fascinating blog on how the U.S. economy fares under Democratic Presidents vs. how it fares under Republican Presidents. The answer is quite clear. Go Read. And look at the graph. It answers a question I have had for years.

Consider the employment claims the Bush administration. They talk about how many jobs have been created under the Bush reign. What they don't talk about is how many additiional people have entered the work force during that time. Every new person who enters the workforce automatically creates new demand for goods and services, so any increase in the working population automatically creates new jobs. So any increase in employment that does not exceed the number of new workers entering the workforce is an automatic effect of the population increast, not of any policies about the economy.

The graphic takes this into consideration, and it will not surprise anyone that the two worst Presidents have been Hoover and Bush 43.

As I say, go look.

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