The last THREE Republican presidents crashed the economy. I mean, they ruined it. Ran it into the ground. DESTROYED tens of million of lives.
And, it took THREE consecutive subsequent Democratic presidents and administrations and policies who followed them to clean up their messes.
FACTS:
—– In 1992, George Bush, Sr.’s policies which were little more than an extension of “Reaganomics” (i.e. “Voodoo-nomics” as it was called by candidate Bush before lap-dogging his way onto the ticket as Veep) which later exploded the national debt, led to the Black Monday (1987) stock market crash, and plunged America into a deep recession into early 1990s. By the 1992 election, Bush’s approval ratings were in the tank. Fortunately, things were about to change, and improve. From the period 1993-2001, Clinton helped to spark a massive recovery, oversaw a booming economy, and even left a government with a budget surplus! Imagine that — a surplus!!! Thanks, Mr. Democrat!
—– In the fall of 2008, after eight years of reckless government deregulations, slashing Wall Street oversights, massive tax cuts for the wealthy under the falsehood of “trickle-down” economics, and two catastrophic costly wars bleeding America’s national treasury dry, George W. Bush II’s policies sparked an colossal international banking meltdown that nearly tumbled the entire world into a global Depression. Thanks to the highly unpopular, but necessary government bailout of banks, the economy was stabilized–but the damage had been done. President Obama took office in Jan. 2009, and his first year was tumultuous because the state of the economy was so bad. But over the next two terms due in part to Obama’s leadership, America enjoyed it’s LONGEST period of extended economic growth in history. He tripled the stock market and oversaw a record 75 straight months (75 STRAIGHT MONTHS!) of economic expansion, including low inflation and low unemployment. For this he was criticized by Republicans, even though he was the one who cleaned up their disaster. They fucked it. Obama FIXED it.
— In 2017, after inheriting a booming economy under Obama, Donald Trump decided to goose the healthy patient with a crazy cocktail of steroids. Gradual steady growth wasn’t good enough for the guy who repeatedly failed in every business venture, so obscene tax cuts were gifted to the super rich and giant corporations which took effect in 2018. Within a year, the economy began slowing down, forecasts warned that ADDING $8 TRILLION IN DEBT would lead to disaster, and then in early 2020 Trump’s grotesque denial and criminal mismanagement of COVID led to a total meltdown. Unemployment soared. The national (and global) economy crashed. But this was an election year. Every economist predicted the recovery period would be painful, leading to high inflation — NO MATTER WHO was elected in 2020. Even if it was the right policy, sending out a hundred million stimulus checks (twice) was CERTAIN to be inflationary. Granting more than a million companies loans that would ultimately be forgiven was CERTAIN to be inflationary. It’s debatable just how much Trump’s incompetence worsened the crisis and how many thousands of deaths he needlessly added to America’s graveyards, but when he was removed from office (despite trying to OVERTHROW the government in a coup attempt), his carnage and legacy was a RUINED ECONOMY in shreds. It took the Biden Administration two long, very difficult years to clean up much of the mess (and oddly enough, he got the blame!), and EVERY major economist now says the United States as of 2024 came out of the COVID crisis much faster and stronger than any other major nation.
Question: Is anyone surprised that REPUBLICANS, with their constant beat of battle drums calling for mass deregulation and tax cuts for the rich have ALWAYS been the party of ECONOMIC FAILURE AND COLLAPSE? There’s a long pattern here. It all goes back to the time of Herbert Hoover’s “Great Depression.” Didn’t we learn ANYTHING from nearly a century ago when Republicans threw a drunken decade-long frat party, ran up all the credit cards, and left the house like an animal farm for the next guy (Democrat, FDR) to clean up the shit show?
Apparently, not. We’ve only repeated the SAME MISTAKE three more times since then. And now there’s some chance it will happen again if Trump returns to office and does his crazy shit.
Here’s the conservative, pro-free market Wall Street Journal headline earlier this week:
Democratic leadership has stabilized inflation, calmed economic fears, produced record levels of energy production, and created a stock market growth now at an all time high —— and yet due largely to a disinformation pipeline of far-Right wing extremist media lies and constant propaganda, nearly half the country has a terrible case of COLLECTIVE AMNESIA about American history.
Should Trump win the election, there is a very high probability that the economy will take a dive, and inflation in particular will rise due to his insane proposed tariffs. Don’t take my word for it–most economists say Trump’s economic proposals (which are intentionally vague) will have an adverse affect, maybe even disastrous impact on the economy, and especially the middle class. Even the *Wall Street Journal* is posting repeated criticisms of Trump’s economic plans.
No, WE DON’T WANT TO GO BACK. Not to the recessions, and depressions, and disasters that every recent REPUBLICAN has unleashed on our nation.
The successful economic records of FDR, CLINTON, OBAMA, and now BIDEN (All Democrats) tower over the colossal failures of HOOVER, BUSH I, BUSH II, and TRUMP (all Republicans) — and history proves it.