Republicans Are Bad for the Economy. Here’s Why.

[adrina]

https://www.thedailybeast.com/republicans-are-bad-for-the-economy-heres-why

History tells a very stark tale. Ten of the last 11 recessions began under Republicans. The one that started under former President Donald Trump and the current GOP leadership was the worst since the Great Depression–and while perhaps any president presiding over a pandemic might have seen the economy suffer, Trump’s gross mismanagement of COVID-19 clearly and greatly deepened the problems the U.S. economy faced. Meanwhile, historically, Democratic administrations have overseen recoveries from those Republican lows. During the seven decades before Trump, real GDP growth averaged just over 2.5 percent under Republicans and a little more than 4.3 percent under Democrats.

Republicans have also historically presided over huge expansions in the U.S. deficit, while Democrats (since Bill Clinton’s administration) have overseen dramatic deficit reduction. Ronald Reagan more than doubled the deficit from $70 billion to more than $175 billion. George H.W. Bush nearly doubled that to $290 billion. Clinton ended his administration with a $128.2 billion surplus.

What about job creation?

The U.S. lost jobs under Trump and created relatively few under George W. Bush. Of the 14 presidents since World War II, seven were Democrats and seven were Republican. Of the seven with the highest job creation rates, six were Democrats. Of the seven with the lowest job creation rates, six were Republicans. What about now? Biden and the current Democratic Congress have created more jobs than the past three Republican administrations combined.

Ok, you might say, but what about inflation?

Rising prices are a real problem for many Americans. But the origins of inflation have very little to do with the Biden administration or the Congress. Inflation is a global problem that is related, according to economists, primarily to supply chain problems associated with COVID, Vladimir Putin’s escalation of the war in Ukraine, and corporate profiteering.

Republicans are just plain bad at managing the economy. They have been for as long as anyone who is alive can remember. And they continue to be—although they are achieving previously unattained new levels of cynicism and obstructionism that make the current crowd of Republicans look even worse than their very unsuccessful predecessors.

In my life, conservative policies have led to continual recessions, the great recession, insane wealth inequity and a host of other issues. Republicans are great gaslighters, that's for sure. And too many Americans seem to be seriously stupid about how republican policies are not good for America or the economy.

 

[KeithD]

The current economic situation in the United States (A) isn't nearly as bad as the Republicans are painting it, (B) is so externally caused/controlled that it would be about the same whether the Democrats or the Republicans were in charge, and (C) is being exacerbated by the Republicans (purposefully) rather than helped in any way. The Democrats are trying to control it. The policy of the Republicans is just to say no. The Republicans are playing a lie on the economy and voters are easily bamboozled.

 

[SubzeroGirl]

I thought there would be more reasons.

 

[KeithD]

I thought there would be more reasons.

Looking at the historical record is the only reason needed.

 

[SubzeroGirl]

Looking at the historical record is the only reason needed.

Living in the past is definitely better than living for the future.

 

[KeithD]

Living in the past is definitely better than living for the future.

Poor try at distraction. Being informed by the past has nothing to do with living in the past. I'd say "nice try," but it wasn't. It was lame and irrelevant. The Republicans have no plan other than to line the pockets of the already rich--and it's a plan they've carried out whenever and however they could.

 

[SubzeroGirl]

I still think more reasons are needed.

Red is a violent color
Elephants are better suited for the circus
Supporting oil, coal and nuclear power kills jobs
Made in America is a recipe for racism
Being proud of America hurts puppies

There, that’s better.

 

[Chobham]

I still think more reasons are needed.

Red is a violent color
Elephants are better suited for the circus
Supporting oil, coal and nuclear power kills jobs
Made in America is a recipe for racism
Being proud of America hurts puppies

There, that’s better.

OK, that's funny.

 

[Chernosoth]

What corporate propaganda rags like to call "the economy" doesn't have much time left. People are walking away from corporate wage slave jobs. They are creating their own jobs, retiring early, and voting for less interference from government in becoming self-employed.

The other end is also failing. Corporate merchandise and services are losing consumer appeal.

 

[KeithD]

I still think more reasons are needed.

Red is a violent color
Elephants are better suited for the circus
Supporting oil, coal and nuclear power kills jobs
Made in America is a recipe for racism
Being proud of America hurts puppies

There, that’s better.

The lame attempts at distraction continue.

 

[Chernosoth]

We could watch for desperate and draconian moves to keep people trapped in wage slavery. One of the increasingly common alternatives is working under the table, to avoid regulations and taxes.

 

[SubzeroGirl]

The lame attempts at distraction continue.

You’re not distracted. You pay plenty of attention to me.

 

[KeithD]

You’re not distracted. You pay plenty of attention to me.

Which, being a bubblehead, is all you vainly are after here. And, for the record, I respond to your nonsense very rarely. That can be verified by anyone reading here.

 

[HisArpy]

Sorry, I'd pay more attention to you but I have ADHD issues.

Fixed so we all know what you refuse to acknowledge.

 

[phrodeau]

One of the increasingly common alternatives is working under the table, to avoid regulations and taxes.

Everybody does it. I heard that from an expert authority.

https://www.vanityfair.com/news/2021/07/don-jr-eric-trump-criminal-charges/amp

 

[coati]

But to be fair, Republicans.are really good at using fear and cultural wedge issues to keep the easily-manipulated masses enslaved.

Slavery to an autocratic corporate state is a form of economics.

 

[jaF0]

I personally don't think the economy is all that bad. Nearly everybody who wants to work is. Companies at most levels are still hiring. Money is flowing freely everywhere I look. Construction projects are plentiful. Real estate is the investment scam it's always been and is only hurting legitimate buyers trying for a first home. Fuel/Energy has always been a roller coaster. Medicine/health care is another major scam that needs to be addressed.


I recently found some old grocery store receipts from the late 90s and many of the prices were about the same as today. Some higher, some lower.

 

[AsmodeusPrime]

So why aren't companies and people fleeing red states for NY and CA???

Why is it the other direction in increasing record numbers???

Why is the most expensive stagnation on the planet the very best blue has to offer while red has 5 states absolutely blowing up so fast they are struggling to build the housing/infrastructure to keep up??? Why is Biden's economy almost as shitty as NY or CA's???

 

[icanhelp1]

But to be fair, Republicans.are really good at using fear and cultural wedge issues to keep the easily-manipulated masses enslaved.

Slavery to an autocratic corporate state is a form of economics.

^^^^^

https://positivepsychology.com/self-awareness-matters-how-you-can-be-more-self-aware/

Self-awareness is the ability to see yourself clearly and objectively through reflection and introspection.

While it may not be possible to attain total objectivity about oneself (that’s a debate that has continued to rage throughout the history of philosophy), there are certainly degrees of self-awareness. It exists on a spectrum.

 

[ffish1]

So why aren't companies and people fleeing red states for NY and CA???

Why is it the other direction in increasing record numbers???

because they want their daughters to be raped by their step-fathers & then forced to give birth

 

[AsmodeusPrime]

because they want their daughters to be raped by their step-fathers & then forced to give birth

Arguably the most unhinged response possible.

 

[HisArpy]

I personally don't think the economy is all that bad. Nearly everybody who wants to work is. Companies at most levels are still hiring. Money is flowing freely everywhere I look. Construction projects are plentiful. Real estate is the investment scam it's always been and is only hurting legitimate buyers trying for a first home. Fuel/Energy has always been a roller coaster. Medicine/health care is another major scam that needs to be addressed.


I recently found some old grocery store receipts from the late 90s and many of the prices were about the same as today. Some higher, some lower.

Have you seen the price of eggs lately?

Or tried to buy baby formula?

 

[wallstreetguy]

because they want their daughters to be raped by their step-fathers & then forced to give birth

I suggest you get help, immediately.

 

[Mom_nxtdoor]

Democrats are bad for the economy

 

[AlexBailey]

Republican policies increase disparity of wealth by discouraging higher tax rates for the wealthiest.

The wealthy buy up real estate and increase the cost of housing. Higher housing costs raise the cost of living while increasing how much of the GDP goes to the wealthy, creating a snowballing effect.

The lower taxes decrease the funds available for infrastructure, public services, and assistance while creating a greater need for the same expenditures.

More people end up in poverty so minimum wages are raised, causing inflation in the cost of goods, increasing the cost of living even more.

Government borrows money from the Federal Reserve to provide services but since it doesn’t get taxed back out of the economy it accumulates in the hands of the wealthy. Unpaid debt requires interest payments requiring more of the GDP just to service debt.

The wealthy buy up real estate (because it’s such a good investment) and raise the cost of living, repeat…. repeat….repeat….