Political Deformity

A Handshake of Carbon Monoxide

Big-Ass Data Point

From Alan S. Blinder, a professor of economics and public affairs at Princeton and former vice chairman of the Federal Reserve, via NYT:

The stark contrast between the whiz-bang Clinton years and the dreary Bush years is familiar because it is so recent. But while it is extreme, it is not atypical. Data for the whole period from 1948 to 2007, during which Republicans occupied the White House for 34 years and Democrats for 26, show average annual growth of real gross national product of 1.64 percent per capita under Republican presidents versus 2.78 percent under Democrats.

That 1.14-point difference, if maintained for eight years, would yield 9.33 percent more income per person, which is a lot more than almost anyone can expect from a tax cut.

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August 30, 2008 Posted by | Democrats, Economics | , | Leave a comment