Economy Performs Better Under Democratic Presidents
On September 5th, in his speech at the Democratic National Convention, former president Bill Clinton asserted that “ since 1961, for 52 years now, the Republicans have held the White House 28 years, the Democrats 24. In those 52 years, our private economy has produced 66 million private sector jobs. So, what’s the job score? Republicans, 24 million, Democrats, 42 (million).”
PolitiFact rates Clinton’s claim: True
Click on the PolitiFact article Bill Clinton says Democratic presidents top Republican presidents in job creation for more information. It provides the net increases in private-sector employment under each president, chronologically by party. Source: the Bureau of Labor Statistic.
The NBC News. com Economy Watch post titled Clinton was right: The economy really does perform better under Democrats reports:
" In his folksy speech at the Democratic National Convention, former President Bill Clinton introduced a clever new measure of presidential performance: the 'jobs score.'
Clinton pointed out that under Democratic presidents since 1961, the economy has added 42 million private-sector jobs, while under Republicans it has added just 24 million. He used the same concept to argue that President Obama has outscored both congressional Republicans and his GOP presidential opponent, Mitt Romney, in terms of creating jobs."
The article goes on to say:
"Clinton only mentioned private-sector jobs, so I pulled the data for all jobs, including government. Again, the Dems have a big edge, accounting for 48 million new jobs, compared with 31 million for Republicans."
And---
"Other measures also show that the economy performs better under Democratic presidents. Sam Stovall, chief equity strategist for S&P Capital IQ, conducted an analysis recently showing that GDP, stock prices, and corporate earnings have all increased more under Democratic presidents than under Republicans."
Oh, and speaking of job creation, when Mitt Romney was governor, Massachusetts ranked 47 out of 50 states in job creation.
