How many times have you heard the Con Man declare that his was the best economy in history?
Well, most economists measure the health of an economy in Gross Domestic Product (GDP) and now that the numbers are in we can measure his against other presidents.
GDP Growth Under Trump Was the Worst Since Hoover
Source: U.S. Bureau of Economic Analysis (charts are behind a firewall)
The final number for Trump’s full four years was 1.6% GDP.
www.bloomberg.com/…
Now back to Bloomberg for some analysis on Democrats in general:
All of those top performers except Reagan were Democrats, which has not gone unnoticed by economists. Over the nearly 75 years for which we have reliable quarterly GDP and monthly jobs numbers, the growth of both has been markedly faster during Democratic presidencies than Republican ones. In 2016 the very eminent Alan S. Blinder and Mark W. Watson of Princeton undertook “An Econometric Exploration” of this phenomenon for the American Economic Review and came to the not especially helpful conclusion that:
the Democratic edge stems mainly from more benign oil shocks, superior total factor productivity (TFP) performance, a more favorable international environment, and perhaps more optimistic consumer expectations about the near-term future.
Bloomberg.
Now that it is confirmed every single interview with any elected Democrat should begin with:
“President Trump’s economic record was the worst since the Great Depression”
That is how Republicans message. And I don’t want to hear about Covid. Obama had to deal with the Great Recession and six million foreclosures with a small $800 billion stimulus. Trillions were used to put out the Covid fire.
They win by fooling people that they are better on the economy.