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1/Thread. A new @bpolitics analysis ranks econ performance of recent US Presidents in this order: Clinton, Obama, Reagan, HW Bush, Carter, Trump, W Bush. Note Dems #1, #2, Rs bringing up the rear. bloomberg.com/opinion/articl…
2/That Dems have been so much better at managing the economy over the past generation of US politics is simply absent from the public debate. It's the fundamental asymmetry in our politics today, and is a reminder that the two parties are not mirror images of one another.
3/In a new analysis, NDN's @ctaylor551 shows that the difference in econ outcomes btn Ds and Rs has been particularly acute since the end of the Cold War, and a new global economic age began. Since 1989 Ds have brought prosperity, Rs decline. medium.com/@cktaylor55/in…
4/In this new @bpolitics analysis, critical to note that Trump not only places behind Clinton and Obama but also Jimmy Carter, and only ahead of W Bush, whose economic performance was certainly among the worst in all of American history.
5/Lets drill down on the data since 1989, when America entered a new post Cold War, global economic age and everything changed. Let's start with jobs. Clinton/Obama created almost 4 times as many jobs as Bushes/Trump, 34m to 8.8m.
6/Clinton and Obama also created jobs at annual rate of almost 4 times greater than Bushes/Trump, 2.1m per year to 0.6m per year.
7/Median income saw significant increases under Clinton and Obama, declines under both Bushes, and modest growth so far under Trump. Rs have not been able to match strong econ performance of Clinton, 2nd Obama term at any point since 1989.
8/On average median income grew by 1.2% in each year of the Clinton and Obama Presidencies, and declined by -0.4 annually under Bushes/Trump. Last 13 years of GOP Presidents have left Americans poorer. Pretty amazing stat.
9/Democrats have outperformed Rs in the stock market by 6 fold over last 5 Presidencies. Clinton/Obama averaged 14.9% gain each year in the S&P 500, Bushes/Trump 2.5%. Trump far behind Clinton and Obama.
10/On managing the budget, Clinton/Obama reduced the annual deficit of the US govt by 0.4% of GDP per year, Bushes/Trump have increased it by 0.5% of GDP per year. Trump may in fact be most fiscally reckless POTUS in US history.
11/The Bushes and Trump have all seen the uninsured rate climb during their Presidencies, Clinton and Obama saw declines. Years of dramatic declines under Obama have given way to a rising uninsured rate under Trump, even during a time of growth.
12/The poverty rate fell by 0.4 percentage points per year under Clinton/Obama, and has risen by 0.2 per year under the Bushes/Trump.
13/What my colleague @ctaylor551 argues is on this fundamental issue, the performance of the economy, there is a vast difference between the two parties, an asymmetry, and that kinds of bothsiderism we've heard from Schultz and others is just ignorant, wrong, polemical.
14/The story of the American economy, and America itself, since the end of the Cold War has been one of prosperity and progress under Democrats, under-performance and decline under Republicans. There isn't symmetry between the two parties - there is a dramatic, stark contrast.
15/Going into 2020, it is essential that all Democrats learn this data, and make this argument. Facile framing of D vs R, rather than prosperity vs decline, success vs failure, modern vs nostalgic, forward vs backward is just inaccurate and wrong. We have to make this case.
16/In this new age of globalization it isn't the nation which has failed, or our politics, it has been Republicans. Democrats have repeatedly governed well, brought prosperity. Rs have repeatedly brought decline. That is the central story of our time. medium.com/@cktaylor55/in…
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