The chart shows debt not, jobs?There is something else these Trumpacrats don't want you to notice about the jobs created chart I posted from Forbes magazine: democrats have significantly outperformed Republicans in job growth since Reagan. Here is a national debt comparison by presidential term and again, the republicans are out performed by far by the Democrats:
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Further look at stock performance and Clinton and Obama are number one and two by far. This article proposes that the president doesn't matter that much, but Dems still have performed better: We Looked At How The Stock Market Performed Under Every U.S. President Since Truman — And The Results Will Surprise You
So basically on most of the factors we typically watch to indicate the health of the economy, Dems perform better than Republicans by a good margin. Note the modern pole bearer for republican economic success (Reagan) ran the biggest debt before and since in both terms. And H. Bush followed behind him with the next highest debt.
The truth, as borne out by data, shows that the republican version of feudalism-based capitalism has not performed. The Democrat's investment-based governance (so-called "big government") outperforms the republicans on almost every metric except creating a massive wealth gap.
As per my previous post, the economy lost control 100% under Biden's watch, and yes he does not control the Fed, but he can sure influence them. It still happened under his watch>
Below is a chart, not from the internet, I drew this one for you myself, to debunk everything from the Forbes article.
So, look at the chart below and you will notice that over the past 10 years, the S&P500 growth followed a growth trend line pretty close to 13% per year. There are slight deviations, but the trend was pretty close to a constant, never mind which president was in charge.
Around April 2020, the market reacted to the Covid scare and dived, but it corrected itself pretty soon, this was under Trump.
Biden took office and from January 2021, the market reacted to free money, plus still very low interest rates and supply chain shortages. So prices went up, profits increased and the market was on steroids, it totally overheated. From January 2022, it started correction towards a bear market.
So in short, under Biden's watch the economy overheated over a 12 month period and the Fed did NOTHING to try and correct that. They have now responded with their first rate hike, but it is too late and this is not going to be fixed easily. We have the Ukraine problem, we have the highest inflation rate almost ever and we have the highest Producer Price Increase ever.
And when a Democrat tells you Biden had the best job growth and economy, that Democrat is not only lying, he is trying to fool the uninformed public who have little understanding of finances and the economy.
Trump for all his misdoings and terrible failures, got CEO's around the table, got on the phone with oil producing companies, sent his Vice President to meet with them. He was outspoken about the FED and influenced them. He had his finger on the pulse as far as the economy was concerned, handling unfair trade practices from China, trying to bring back manufacturing etc.
Interesting times indeed.
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