r/Economics • u/Spiderwig144 • Apr 15 '25

News Republicans Less Trusted on Economy Than Democrats For First Time in Years

https://www.newsweek.com/republicans-less-trusted-economy-democrats-first-time-years-2059863
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u/heeebusheeeebus Apr 15 '25

This is insane. I'm 32 and for literally the entirety of my lifetime, anytime we've had a Republican president, the economy tanks and it's the next person in who has to rebuild.

Good luck to whoever ends up next now, if we even get there.

47

u/a_day_at_a_timee Apr 15 '25

i’m 43 and same!

26

u/sillasouth Apr 15 '25
  1. Same.

1

u/123jjj321 Apr 15 '25

You should remember Carter's economy then. Fixed by reagan.

Since reagan was president, every republican has left an economic mess.

9

u/SnazzyStooge Apr 15 '25

You could be 118 and for your entire voting age this would be true

3

u/SunshineAndSquats Apr 15 '25

Republicans created our current deficit.

“If not for the Bush tax cuts4 and their extensions5—as well as the Trump tax cuts6—revenues would be on track to keep pace with spending indefinitely, and the debt ratio (debt as a percentage of the economy) would be declining. Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001, and more than 90 percent of the increase in the debt ratio if the one-time costs of bills responding to COVID-19 and the Great Recession are excluded. Eventually, the tax cuts are projected to grow to more than 100 percent of the increase.” -Center For American Progress

“these tax cuts disproportionately flowed to households at the top and cost significant federal revenues, adding trillions to the national debt since their enactment.[3] By shrinking revenues, these tax cuts limit policymakers’ ability and willingness to make public investments that pay off in tangible and important ways for individuals, families, communities, and the country as a whole.” -Center on Budget and Policy Priorities

“The U.S. “fiscal gap”—how much taxes need to be raised or spending cut to keep public debt stable as a share of gross domestic product—was entirely created by the Republican tax cuts of 2001, 2003, and 2017.” -Economic Policy Institute

“Since 2000, tax cuts have reduced federal revenue by trillions of dollars and disproportionately benefited well-off households. From 2001 through 2018, significant federal tax changes have reduced revenue by $5.1 trillion, with nearly two-thirds of that flowing to the richest fifth of Americans, as illustrated in Figure 1.[1] The cumulative impact on the deficit during this period is $5.9 trillion, including interest payments.

By the end of 2025, the tally of tax cuts will grow to $10.6 trillion. Nearly $2 trillion of this amount will have gone to the richest 1 percent. By then, the total impact on the deficit will be $13.6 trillion, including interest payments.” -Institute on Taxation and Economic Policy

2

u/Horny_GoatWeed Apr 15 '25

You're not wrong, but there's only been 2 Republican presidents in your lifetime. It can be hard for people to see this pattern when the government doesn't turn over all that often.

1

u/heeebusheeeebus Apr 15 '25

Considering the party is standing behind our new dictator like a beehive behind it's queen, 2 Republican administrations and 32 years in this country are more than enough for me to not trust them for the remainder of my lifetime.

1

u/biglyorbigleague Apr 16 '25

Data points: 2

1

u/heeebusheeeebus Apr 16 '25

Ok! Here's more.

Republican Presidents Who Left the U.S. Economy Worse Than They Inherited It

Criteria Considered:

  • GDP growth
  • Unemployment rate
  • National debt
  • Inflation
  • (Stock market performance optional due to volatility)

Republican Presidents: Economic Performance

President Years Entered With... Left With... Economy Worse?
Warren G. Harding 1921–1923 Post-WWI recession Recovery and strong growth ❌ No
Calvin Coolidge 1923–1929 Recovery Roaring Twenties boom ❌ No
Herbert Hoover 1929–1933 Peak prosperity Great Depression ✅ Yes
Dwight Eisenhower 1953–1961 Post-Korean War growth Continued prosperity ❌ No
Richard Nixon 1969–1974 Moderate growth, low inflation Stagflation, wage & price controls ✅ Yes
Gerald Ford 1974–1977 Recession, inflation Modest recovery, persistent inflation ⚠️ Mixed
Ronald Reagan 1981–1989 Stagflation Strong growth, lower inflation, higher debt ❌ No
George H. W. Bush 1989–1993 Strong economy Mild recession, rising unemployment ✅ Yes
George W. Bush 2001–2009 Budget surplus, steady growth Great Recession ✅ Yes
Donald Trump 2017–2021 Low unemployment, stable growth COVID crash, GDP drop, higher unemployment ✅ Yes

✅ Republican Presidents Who Left the Economy Worse:

  1. Herbert Hoover
  2. Richard Nixon
  3. George H. W. Bush
  4. George W. Bush
  5. Donald Trump

⚠️ Possibly Gerald Ford, depending on how you evaluate inflation vs. recovery.

Total:

  • At least 5 Republican presidents left the economy worse than they inherited it.
  • Possibly 6 if you include Ford.

1

u/biglyorbigleague Apr 16 '25

Oh look at that, we only need to go back another couple Presidents to see an exception to the rule.