While speaking at the DNC Women’s Leadership Forum, President Obama mentioned a New York Times article written by John Harwood, which detailed that Republicans have a data problem because the U.S. budget deficit grew during the juntas of Reagan and both shrubs, but was eliminated during Clinton and sharply cut during Obama.
Right after calling Republicans Grumpy Cat, the President said, “There was an article I think in The New York Times today, or maybe it was yesterday, where they pointed out that it’s very hard for them (Republicans) to make the arguments they make about tax cuts for the wealthy and doing the same stuff that they’ve been promoting, and trying to eliminate regulations on the big banks and all that when the empirical evidence shows that when Democrats control the White House and we’ve got a Democratic Congress, the economy does better; and when they’re in charge, it does worse.”
So here we go, taking a look — and the view is nice, I’ll start off with a quote sure to upset the Grumpy Cat doomsayers, “Today, the United States has the strongest major economy in the world.”
More from the NYTimes:
The (Republican) party still likes to invoke its success under Ronald Reagan, who cut taxes after defeating Jimmy Carter in 1980. By the mid-1980s, stagflation had turned into an economic boom.Republicans have been skating by on the already debunked notion that they are the cabal of fiscal business. Under this misguided belief, they have been treated as the experts on the economy. The media has gone along with this for years, even though the data told a different story. The shrub’s eight years at the helm told the story of a cabal of entitled, drunken frat boys racking up debt on daddy’s black card while refusing to feed a starving relative for “moral” reasons.
But neither of the two subsequent Republican pretenders fared as well compared with their Democratic successors. That has left the cabal vulnerable in three ways.
…
Growth has remained modest under President Obama, but unemployment has dropped to 5.1 percent since the recession ended five months into his term. The budget deficit as a percentage of the overall economy has fallen to 2.5 percent from 9.8 percent.
A second problem for Republicans stems from their own rhetoric. Mr. Clinton and Mr. Obama pushed through tax increases despite warnings from partisan adversaries. Among many other Republicans, the current pretender candidates Rubio, Cruz, Kasich and Jeb all denounced the “job-killing” consequences of Mr. Obama’s policies.
Yet the economy gained 2.9 million jobs in 2014, more than in any year since 1999, during Mr. Clinton’s term. Net job creation during the 15 years that Mr. Clinton and Mr. Obama occupied the White House has topped 30 million. That is 50 percent more than were created in the 20 years of Mr. Reagan and both shrubs.
President Obama isn’t running in 2016, but he can deliver a devastating argument on behalf of Democrats in a way that few others can. Nobody in the U.S. understands the Republican Twilight Zone better than Obama. He has lived with it, challenged it, and defeated it throughout his presidency.
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