The numbers don’t lie – Democrats are better stewards of the economy

By James J. Devine

For decades, the Republican Party has portrayed itself as the guardian of fiscal responsibility and tirelessly accuses the Democrats of reckless waste of money and an inflated national debt.

But when you dig into the numbers, it becomes clear that this story is not just misleading—it’s a lie. In reality, Republican presidents were the primary cause of our country’s debt crisis, while Democrats have consistently proven to be better stewards of the economy.

Let’s start with the hard facts. Despite all the Republicans’ posturing about fiscal conservatism, the truth is that budget deficits have consistently been higher under Republican presidents.

Since 1981, U.S. national debt has skyrocketed under Republican leadership, and budget deficits have exploded during the administrations of Ronald Reagan, George HW Bush, George W. Bush and Donald Trump.

On the other hand, Democratic presidents like Bill Clinton and Barack Obama managed to get the deficit under control. Clinton even ran budget surpluses in his last four fiscal years – the first surpluses the country has seen since 1969.

And then there is Trump, the disgraced former president who took reckless spending to new levels.

According to the Committee for a Responsible Federal Budget (CRFB), Trump increased the national debt by a whopping $8.4 trillion within ten years.

His so-called milestone alone—the 2017 tax cuts—led to $1.9 trillion in additional borrowing. And let’s not forget the countless bipartisan spending deals he made that added another $2.1 trillion to our federal bill.

Even excluding necessary spending on Covid-19 relief, Trump’s actions have still added $4.8 trillion to the debt burden – a fiscal disaster of epic proportions. But there is no doubt that he is responsible for the botched response to this global pandemic.

In contrast, President Joe Biden’s administration, while not without its flaws, has been far more fiscally responsible. So far, Biden has added $4.3 trillion to the national debt, significantly less than Trump, despite inheriting an economy ravaged by the pandemic.

Biden’s big spending bills – budget bills, student debt relief and health care support for veterans – reflect his commitment to meeting urgent national needs rather than, as Trump did, serving the rich and powerful.

Excluding Covid-related spending, Biden’s policies have only increased the debt by $2.2 trillion – less than half of Trump’s total.

But it’s not just about national debt. Democrats regularly perform better than Republicans on other important economic indicators as well.

Under Democratic presidents, federal budget deficits averaged 2.1% of potential GDP, compared to 2.8% under Republican presidents, a difference that underscores Republicans’ penchant for reckless spending.

And yet, despite the higher deficits, Republicans have failed to achieve the economic growth they so often promise. In fact, economic growth has been higher under Democratic administrations, a fact that GOP supporters simply cannot argue away.

The Democrats also leave the Republicans far behind when it comes to job creation. From Truman to Trump, Democratic presidents created around 70.5 million jobs, while under Republican presidents the figure was only 29.1 million.

This means that on average, Democrats added 164,000 new jobs per month, compared to a measly 61,000 under Republicans. Democratic job gains were 2.4 times higher – a clear indication that Republican policies that emphasize tax cuts for the rich do not deliver for the average American.

The bottom line is this: The Republican Party’s claims of fiscal responsibility are a farce. The GOP’s reckless contribution to the national debt, coupled with its dismal record on economic growth and job creation, proves that the Republicans are not the party of fiscal discipline — they are the party of fiscal disaster.

Democrats, on the other hand, have proven themselves to be better stewards of the economy by making the needs of all Americans a top priority and taking the necessary steps to ensure long-term prosperity.

As we look to the future, it is time to reject the failed economic policies of the Republicans and not only support the proven leadership of the Democratic Party, but also work to ensure that the liberal lions stand up against the influence of corporations within the political establishment.

The numbers don’t lie: Democrats are the party of fiscal responsibility, economic growth, and job creation, while Republicans are the party of debt, stagnation, and broken promises. Unfortunately, not enough effort has been made to reverse Reaganomics and other failed trickle-down policies as elections in this country increasingly become auctions.

Many of the elected Democrats are in stark contrast to the wishes of most Democratic voters. This will require a purge of the neoliberal Vichy Democrats who represent the same billionaires as the Republicans while distracting us with divisive social issues.

It’s time to hold Republicans accountable for the multitude of budget disasters they have created. But we can only do that by demanding a government that works for everyone, not just the wealthy few.

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