Sunday, September 7, 2008

Is History Siding With Obama’s Economic Plan?

A friend sent me this New York Times article, which examined the effect Democratic and Republican presidents have had on the national economy.

The article includes some really pertinent information, especially as it relates to the upcoming election.

"Simply put, the United States economy has grown faster, on average, under Democratic presidents than under Republicans.

The stark contrast between the whiz-bang Clinton years and the dreary Bush years is familiar because it is so recent. But while it is extreme, it is not atypical. Data for the whole period from 1948 to 2007, during which Republicans occupied the White House for 34 years and Democrats for 26, show average annual growth of real gross national product of 1.64 percent per capita under Republican presidents versus 2.78 percent under Democrats.

That 1.14-point difference, if maintained for eight years, would yield 9.33 percent more income per person, which is a lot more than almost anyone can expect from a tax cut."

So regardless of your views on the upcoming presidential election or your opinions on the differences between Barack Obama and John McCain's respective economic plans, the article definitely makes for an interesting read.

Is History Siding With Obama’s Economic Plan?

No comments: