A piece on Politico by Jennifer Granholm uses numbers from Bloomberg’s BGOV Barometer to illustrate just how disastrous having a Republican in the White House really is for America’s economy, from the little guy to the board room.
Among her findings…
For the near half-century following the Kennedy administration, Democrats created nearly twice as many private-sector jobs as Republicans. Even though Democrats held the presidency for only 23 years compared with 28 years of Republican rule.
Private-sector payrolls increased by 42 million jobs under Democratic administrations, and 24 million under Republican ones. That’s an average of 150,000 new paychecks a month under Democrats and 71,000 per month under Republicans.
Jobs, schmobs. What about the market? That’s what counts to the nation’s investors, right? And how about the GDP and personal income?
Again, Bloomberg analyzed the data. Investing $1,000 in a hypothetical fund that tracks the Standard & Poor’s 500 index over the past 50 years would have returned $10,920 when Democrats held the White House. The return when Republicans were in power? $2,087.
Annualized returns were 11 percent for the Democrats, 2.7 percent for the Republicans.
What about gross domestic product growth? Through 2008, real GDP grew faster under Democratic administrations — 4.1 percent to 2.7 percent for the GOP.
Income growth? Under Democrats, the real median income over the past 50 years grew at 2.2 percent. Republicans? 0.6 percent.