The Real Economic Scorecard

Why don't you all google economy under republican and democrats.. Those are facts!!

Former Fed vice-chairman Alan S. Blinder reviews "Unequal Democracy", a book by poli-sci professor Larry M. Bartels. This book discusses why, since WWII, the economy has grown so much more under Democratic Presidents than Republican Presidents. This stark fact surprised and shocked me (in a good way!). I knew Democrats were better than the GOP, but I had no idea Democrats were 170% better!

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 (GDP) of 1.64 percent per capita under Republican presidents versus 2.78 percent under Democrats.

Beginning with the Reagan presidency, however, growth differences are smaller and tax and transfer policies have played a larger role. We know, for example, that Republicans have typically favored large tax cuts for upper-income groups while Democrats have opposed them. In addition, Democrats have been more willing to raise the minimum wage, and Republicans have been more hostile toward unions.

The two Great Partisan Divides combine to suggest that, if history is a guide, an Obama victory in November would lead to faster economic growth with less inequality, while a McCain victory would lead to slower economic growth with more inequality. Which part of the Obama menu don???t you like?

I don't know what planet Mr. Samuelson is living on, but it is not in this reality. I haven't had a raise in eight years (not because of poor work ethics, but because the companies I work for say "no one is getting raises this year"--what then? Quit and try to find something better? Most people don't have much choice but to live with it!) My job also keeps getting out-sourced to different companies and when that happens, I end up working for the same pay but with less benefits. Meanwhile gas, food, clothing, etc prices keep going up and UP. We are living with this every day, don't try to do a snow job on people who are struggling to just get by!

The Democrats are running a FDR campaign for 1932. A lot of things have changed since then.
Anyone who lived through the Carter Administartion knows we are not in dire straights. It's complete nonsense. If one compares unemployment to just the Clinton years we are near the lowest ever and things were much worse at the end of Clinton Administration.

Here's another disturbing statistic for the DOOMocrats. The famous "Misery Index"(combines the average inflation & unemployment rates) that Jimmy Carter used in 1976 (which backfiredon him in 1980), shows Bush at 8.01%, barely worse than Bill Clinton's 7.80% that's touted as a great success. For Carter, it was well over 16%. Go figure.

SKEW THE DATA ANY WAY YOU WISH MR.SAMUELSON IF IT MAKES YOU AND SOME OF THE OTHER WRITERS FEEL BETTER. I CAN ONLY PRAY THAT SOME DAY YOU WILL WAKE UP AND FIND THAT YOUR SERVICES ARE NO LONGER NEEDED (IF THEY EVER WERE) AND BE FORCED TO TAKE A JOB AT HALF THE PAY AND NO INSURANCE. PEOPLE WHO MAKE A LIVING ENGAGING IN SUCH DRIVEL DISGUST ME!

Voice of Moderation -- You are wrong. Obama is going to give handouts to everybody, including you! Isn't that nice. We will just sell more and more treasury bonds to China. And give everybody what they want. Free health care. Free college. Oh yeah, we will tax the rich even more, who by the way are already paying the largest share of the nations taxes. I'm part of a lower-middle class family. I pay no taxes. The government actually gives me money back at the end of the year in child tax credits. Yet Obama's plan is tax the rich. Of course, everybody but the richest 10% of american's like it, because it calls for little sacrifice from us. We want a politician that tells us what we want to hear.

"Hispanics numerically account for all the increase in the number of officially poor. Similarly, immigrants represented 55 percent of the increase of the uninsured from 1994 to 2006" Quick, hide this information, it might not bode well for Obama's "doom and gloom" view of the economy.

Yeah right, Samuelson. And if my aunt was my uncle she'd have.......! Well I think you might be able to fill in the blank. What a jerk!

This author is living in a dream world of his own. I was doing better when I was 28 than I am now at 38, even though I make more money. The cost of nearly everything has increased by 30- to 300% since then. I'd return both of George Bush's $600 tax rebates if I could have the Clinton years back.

Leave it to a media knucklehead like this guy to try and convince us that everything is just hunky dory and what we are seeing happen to our economy is just an illusion. Sorry pal but you can't just throw a couple of numbers at us a flip a couple of pie charts and convince us that somehow we're just fine. We all know what is happening to the lower, middle and now lower/upper classes in this country.

My business and those I deal with are strong. I do recognize that some in our neighborhood are worried about their jobs, but overall, the economy seems to be growing. If someone has not received a raise, then that is more of an individual challenge. I see the same that I have seen for years. The well run companies grow no matter the economy. Those companies who have too many employees because they can, and have not faced a challenge, are now passing the challenge on to the employees.

Mr. Samuelson - very good article...unfortunately good news doesn't get as much media play as the fear mongering does. Also, if I am correct, the poverty levels, when measured don't include the money and hand-outs that those who are classified as being poor. Once those amounts are added back into the equation - things are a bit more rosy. But although the increases were small - they are better than loses. But heck -

When 10 trillion is allowed to go unregulated, fringe benefits fail to make up thre difference........In California illegal immigrants are actually ahead of the game since they work under the table and demand higher pay.

Please! This has nothing to do with media, liberals, conservatives or whatever names you use.
THIS IS SERIOUS! Over the last 8 years our raises: 2000-0%, 2001-1%, 2002-1%, 2003-2%, 2004-3%, 2005-2%, 2006-1%, 2007-2%...rises in health care insurance went up more than the raises. Our company 'hunkered down' once Bush became president. We were supposed to be grateful we had a job. I used to think I made a good wage ($40,000) but with the costs of everything going up, I am living paycheck to paycheck. At my age, this is a worry.

Mr Samuelson, you are a brave man to dispute the current meme of gloom and doom bouncing around the echo chamber. Thank you for your courage, but be extra cautious on your way to your car tonight!