(By The Pragmatic Pundit)
Bill Clinton’s convention speech discussion of arithmetic inspired me to rename and repost this information about economic and fiscal performance under Democratic Presidents versus Republican ones.
Most government spending occurs automatically, without any action by the Congress or the President. Since fiscal year 1957, the amount of debt held by the federal government has increased each year.
But Democratic presidents are better at debt reduction.
Balancing the Budget
President Clinton balanced the budget, giving the government a surplus. Not one single Republican in either house voted for the balanced budget.
Only 5 (five) current Presidents have governed with a surplus. They were all Democrats!
2. Recession of 1953: Dwight D. Eisenhower (Republican)
3. Recession of 1957: Dwight D. Eisenhower (Republican)
4. Recession of 1960: Dwight D. Eisenhower (Republican) *
5. The Oil Crisis: Richard Nixon (Republican)
6. 1980′s Recession: Ronald Reagan (Republican)
7. 1990 Recession: George H.W. Bush (Republican)
8. 2002 Recession: George W. Bush (Republican)
9. The Second Great Depression: George W. Bush (Republican)The Debt Ceiling
The Federal Workforce
Reagan began office with a total of 4,982,000 employees and ended his term with 5,292,000 employees. President Obama took office with a federal employee roster of 4,430,000 employees. At the end of 2010 President Obama’s federal workforce numbered 4,443,000; that’s 849,000 fewer employees than Reagan, the advocate of small government! Add to this the fact that President Reagan governed during peacetime, while President Obama inherited two wars.
When it comes to job creation, the Democrats again do a better job than Republicans.
From the U.S. Department of Labor; data is listed from the best to the worst:
Clinton 1994-2001 average unemployment rate of 4.9%.
Kennedy 1962-1965 average unemployment rate of 5.2%.
Nixon 1970-1977 average unemployment rate of 6.3%.
Bush 1990-1993 average unemployment rate of 6.7%.
Carter 1978-1981 average unemployment rate of 6.7%.
Reagan 1982-1989 average unemployment rate of 7.3%.