❝ Here’s a frightening factoid for Donald Trump as he prepares to take office next month: Every Republican president since World War II has been in power during at least one recession.
Of course, as the saying goes, past performance is not necessarily indicative of future results and the billionaire developer may well avoid a downturn on his watch.
But with the economic expansion soon to become the third-longest on record, the risk of a contraction occurring during his time in office can’t be cavalierly dismissed…
❝ The same can’t be said of Democrats. Outgoing President Barack Obama did preside over an economic downturn in his first six months in office – one he inherited from his predecessor, Republican George W. Bush. John F. Kennedy took office just before a recession ended. And the U.S. entered and exited slumps when Jimmy Carter and Harry Truman were in charge.
But it was recession-free during the tenures of Democrats Lyndon Johnson in the 1960s and Bill Clinton in the 1990s.
❝ “The U.S. economy has performed better when the president of the United States is a Democrat rather than a Republican,” Princeton University professors Alan Blinder and Mark Watson wrote in a paper published in the American Economic Review this year.
RTFA if you feel like spending a minute reading a journalist trying to cover his butt by sounding “fair and balanced”. Otherwise, take a look at the crowd of neo-cons and nutballs Trump has cobbled together for a cabinet. All the neo-con types who can’t win a primary in the 21st Century get to guide policy as a matter of choice instead of competency – once again. The losers who felt George the Little was too liberal – and demand economic policies formulated and failing since the days of Hoover and Hayek – get yet another chance at crushing the US economy with dribble-down crappola.
And, then, there are the nutballs. The leadership of stupid over ignorant. I quoted the usual misquote of Mencken in the weeks before the election: “No one ever went broke underestimating the intelligence of the American public.” It still stands. And the truly incompetent, conspiracy-nuts, the spooky fools who get daily headlines on FOX NEWS, led the least-educated portion of the American electorate down the same old primrose path that worked for Hoover and Reagan…and Trump.