Not long before Wall Street cratered, economist Alan Blinder published a piece in the New York Times’ business section that compared McCain’s and Obama’s economic plans. In the piece, Blinder argues that “the United States economy has grown faster, on average, under Democratic presidents than under Republicans.”
… his conclusion is based on data from 1948 to 2007, in case you were wondering. The data comes from a new book, “Unequal Democracy,” by Princeton professor Larry Bartels, which calculates a 1.14-point difference in gross national product per year between Democratic and Republican administrations.
“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,” Blinder says.
About two weeks later, Slate.com picked up the exact same theme, only they used the annual Economic Report of the President, and concluded, “what these numbers show almost beyond doubt is that Democrats are better at virtually every economic task that is important to Republicans.”
What numbers are those? Percent change in GDP, inflation, unemployment, federal spending (yes, Demos are lower!), and surplus vs. deficit. The only place the Repubs are better? Taxes, by a paltry 17.97 to 18.4.
If you’re going to vote with your pocketbook, you might start by having a look at these two articles.