If for nothing else, you have to give Republican leaders and their conservative echo chamber credit for staying on message. After Paul Ryan famously declared the America was becoming a nation of "makers versus takers," Jeb Bush praised Ryan's defense of "the right to rise" supposedly now under assault. Last week, supply-side propagandist George Gilder, perhaps best known for his mantra that "the poor most of all need the spur of their own poverty," returned to warn that "people will abuse any free good." And campaigned this weekend in Ohio, the GOP ticket of Mitt Romney and Paul Ryan claimed theirs is the party of "success."
As it turns out, there is one problem with this Republican chest-thumping. Because when it comes to which political party is best for the American economy, it's not the GOP. It's not even close.
As the historical record shows, from economic growth and job creation to stock market performance and just about every other indicator of the health of American capitalism, the modern U.S. economy has almost always done better under Democratic presidents. Despite GOP mythology to the contrary, America generally gained more jobs and grew faster when taxes were higher (even much higher) and income inequality lower.
While the U.S. recovery from the crippling Bush recession has been painfully slow, most economists--including the nonpartisan CBO and some of John McCain's own 2008 advisers--believe President Obama saved the American free-enterprise system from the abyss. And many economists are increasingly worried that businessman-turned-President Romney would lead the United States back into recession.
Here's why the economic debate between Democrats and Republicans is no contest at all. (Click a link below for the details on each.)
- Job Creation and Economic Growth
- The Stock Market
- Income Inequality
- National Debt
- The Bush Disaster and the Obama Recovery
- Looking Ahead to the Romney-Ryan Recession
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