Shattering the GOP Economic Myth

The stubborn, decades-old myth that Republican policies are better for the U.S. economy than Democratic ones is finally shattering.

Americans are realizing that the false narrative that tax cuts for the wealthy and big corporations, coupled with the shredding of the social safety net, will lead to economic prosperity is bogus – and always has been.

It’s about time.

This week’s election results, along with recent polling, show that Americans now trust Democrats on the economy more than Republicans. It’s a welcome turnaround.

To be sure, President Trump’s disastrous and deeply unpopular economic policies – from his costly tariffs to his cold-hearted decision to kick millions of Americans off health care or double their costs, while slashing Medicaid and refusing to feed the hungry – are likely the main cause for the GOP’s current plummet in the polls and at the ballot box.

But it’s also possible that Americans are finally realizing that for years, they’ve been sold a bill of goods about Republican economic policies.

After all, the data is undeniable. In almost every measure of the U.S. economy – job growth, unemployment, economic growth, manufacturing growth, inflation, small business creation, contribution to the national debt – Democratic administrations have outperformed Republican ones across the board during the past century.

In fact, Republican administrations are far more likely to result in economic despair. The last five U.S. recessions started when a Republican was in the White House. And of the 11 recessions in the modern era, 10 began under a GOP president.

Research is crystal clear: Tax cuts for the wealthy and big corporations might lead to short-term gains, but more often result in economic stagnation or downturns and bigger deficits.

Democrats, meanwhile, have traditionally prioritized investing in the middle-class, supporting small businesses, expanding the economy, and providing a helping hand to those who it need it most.

And the results are conclusive. Take job growth: Since 1949, job growth has averaged 2.5% during Democratic administrations compared to just 1% in Republican ones. And since the early 1980s, the U.S. has added 50 million jobs during Democratic administrations compared to only 17 million in Republican ones.

The overall U.S. economy has also grown at a faster rate during Democratic administrations versus Republican ones, 3.8% to 2.6% since 1949.

The truth is – and has been for a very long time – Republicans often wreck the economy, and Democrats are forced to clean up the mess.

Let’s hope this week’s resounding repudiation of Trump’s policies in California, Virginia, New Jersey and beyond puts the false narrative about Republicans being better for the economy where it belongs: on the ash heap of history.

Some sources:

Shattering the GOP Economic Myth

California

Senator McNerney

Office Locations

Capitol

Stockton