NYT: History Shows the U.S. Economy Performs Better Under Democrats.

[Barack_America]

Fascinating article and an absolute MUST READ!

Is History Siding With Obama’s Economic Plan?

By ALAN S. BLINDER
Published: August 30, 2008

CLEARLY, there are major differences between the economic policies of Senators Barack Obama and John McCain. Mr. McCain wants more tax cuts for the rich; Mr. Obama wants tax cuts for the poor and middle class. The two men also disagree on health care, energy and many other topics.

Such differences are hardly surprising. Democrats and Republicans have followed different approaches to the economy for as long as there have been Democrats and Republicans. Longer, actually. Remember Hamilton versus Jefferson?

Many Americans know that there are characteristic policy differences between the two parties. But few are aware of two important facts about the post-World War II era, both of which are brilliantly delineated in a new book, “Unequal Democracy,” by Larry M. Bartels, a professor of political science at Princeton. Understanding them might help voters see what could be at stake, economically speaking, in November.

I call the first fact the Great Partisan Growth Divide. 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.

(bolding mine)

More! (be sure to check out the last paragraph!)
http://www.nytimes.com/2008/08/31/business/31view.html?em

Apologies if this has already been posted. This is the first I've seen it. Pass it on to your friends and family! :hi:

[Triana]

1. This is exactly why McSame picked Hideous Sarah - as a distraction from that.. and...

..from the Repube's hideous record for the past 8 years - on the economy - and everything else. They'll do or say ANYTHING to avoid talking about the economy. And that article - along with the bu$h's record - is why.

What's everyone blathering about? The latest horrible jobless figures? The mortgage crisis?

Nope. Sarah Palin.

[alsame]

2. Of course it does. I've lived through enough administrations

to know this is true - my financial situation has always been better when Democrats are in control. I don't understand why people don't realize this just on the basis of their own lives.

[Barack_America]

3. It's amazing to me that more working Americans haven't put this together...

They actually believe that Obama wants to raise THEIR taxes, when exactly the opposite is true. They're stubbornly holding onto a falsehood that is jeopardizing their livelihoods.

[BrklynLiberal]

4. They are like zombies...no original thought passes thru their empt;y skulls...

They just do as they are told...

[endthewar]

5. The Young Turks had an excellent segment on this a few months ago

[Barack_America]

6. Good to know!

I'll look for that!

:hi:

[endthewar]

9. I think this might be the video I'm thinking of

I'll let you know if I find another one. :hi:

http://www.youtube.com/watch?v=DH7r1bYIBTE

[Zomby Woof]

7. Harry Truman once said

If you want to live like a Republican, vote Democrat!

[Barack_America]

8. Great quote!

And too true, lol.

[Quixote1818]

10. Obama should start pointing to this fact of history. Big K and R.

[endthewar]

11. Nah. Just gives McCain an opening for his reform/maverick message.

[Barack_America]

12. ?? How so? How are John McCain's economic policies "maverick"?

They're the same as Bush's.

[endthewar]

13. Of course we know that

but he's campaigning right now on fighting the broken system of the past and the media loves this talking point and will play it to death. It's as if they're trying to find out how many different ways they can put "McCain" and "maverick" in the same sentence. McCain even likes to tout Palin taking on corrupt Republicans. To people thinking for themselves, it doesn't make sense to ask for credit for going after corruption within your OWN party. That's like making a mess and then asking for a video crew to cover you while you clean up your own mess. Evidence of a broken system won't doom McCain, even if the focus is on Republicans.

I think the real reason why the Obama campaign shouldn't use this line of attack is because it's too generic. It's something better used by individuals like ourselves to convince people we know why to vote Democratic. :patriot:

[Barack_America]

17. But it seems to me that if Americans start to understand the truth behind income inequality...

It is game, set and match for the Democrats.

The Republican brand would be wiped out for the foreseeable future.

So, personally, I hope the campaign highlights this analysis.

[Number23]

14. Happy to Rec!

Good read. :thumbsup:

ETA: This here is the money quote:

"The accompanying table, which is adapted from the book, tells a remarkably consistent story. It shows that when Democrats were in the White House, lower-income families experienced slightly faster income growth than higher-income families — which means that incomes were equalizing. In stark contrast, it also shows much faster income growth for the better-off when Republicans were in the White House — thus widening the gap in income."

[Barack_America]

15. Thanks!

And I agree, I love that quote!

I'm glad you enjoyed the article; I found it to be the most interesting thing that I've read in the MSM in quite some time!

[demokatgurrl]

16. Yeah, well what do you expect

that fucking liberal rag to say?:sarcasm:

[Barack_America]

18. .

Kicking above the Palin threads.

:kick: