The U.S. economy, if built on a solid policy foundation can accomplish much; if built on a foundation of ideology it accomplishes very little. And the record is clear that democratic administrations are best at handling the economy. A working economy creates jobs, reduces unemployment, reduces deficit spending and debt and also is the avenue to a balanced budget. It is the engine that drives the need for business expansion because of consumer demands.
The economy, if working properly is a key for fiscal stability; federal revenues will increase and the government will be allowed to take care of its responsibility to the people. The economy is also important for our national security and the ability to keep our country safe because that takes revenue to provide the means to keep the country safe at home and abroad. A good working economy is the part that starts every thing off that we do. The year 2008 is proof of what happens when the economy is not working.
This writer posted a 4 part commentary here in "PolitiDose" titled, The U.S. Economy, Which Party Performs Best dated 1/27/08 that ended with Part IV dated 3/2/08 (Recap and Conclusion) President George W. Bush was still in office at the time of the commentary so his full eight years could not be included but every one knows what happened to the economy and etc., on his watch.
Under President Obama the U.S. economy has performed better; so has the unemployment rate; deficit spending is lower; more jobs have been created by far; America and its people are safer at home and abroad; federal spending has increased at a lower rate than under Bush; the stock market index is up almost 100% and the national debt will see a smaller percentage increase than under Bush. There have been no bank failures of the scope of 2008. And the economy is the best on the world market.
Donald Trump will not release his tax returns because it will show he paid very little tax or no tax at all and would reveal his dealings with foreign countries. The economy would be tuned to his investments and would end up not working for the people or the country. On the other hand Hillary Clinton has nothing to hide as she has released her tax returns. She has not only paid her share of taxes but there is nothing there to hide.
President Obama's time in office so far has confirmed the 4 Part commentary's conclusion that democratic administrations do perform better for the country and its people than republican administrations.
Note: The below numbers for President George W. Bush's last two fiscal years was not available when the 4 part commentary was written. Below is what happened to the deficit his last two fiscal years.
Fiscal year 2008 ending 9/30/08 $454.8 billion deficit
Fiscal year 2009 ending 9/30/09 $l.42 Trillion deficit The largest single year fiscal deficit that still stands.
This commentary written by Joe Lorio
