Democratic Presidents Are Better for the Economy – Bloomberg

The prevailing political wisdom says that a U.S. president should win re-election if gasoline prices are stable, the stock market is climbing and monthly jobless numbers are declining.There is some logic to this: Such indicators affect our pocketbooks and our psyches, whether or not the president has much control over them. Yet short-term economic fluctuations are not what make the nation strong or a president great.Enlarge image Presidential Economic PerformanceData: U.S. government statistics and “The President as Economist: Scoring Economic Performances From Harry Truman to Barack Obama,” by Richard J. CarrollA president is a success economically if he can help steer the country onto a longer-term path of broadly shared economic growth, and if his policies lay a foundation for sustainable prosperity for the future. Although it isn’t easy for voters to determine if a president is contributing to long-term economic success, they can do better than base their decisions on gas prices.

via Democratic Presidents Are Better for the Economy – Bloomberg.

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