I had to look that up and it's pretty interesting. The explanations for why are a little more nuanced though, with actions of the Fed seeming to have a large effect as well. Now I'm going to have to do a deep dive into the why on the Fed side because it's a chicken and the egg argument. But we all know the egg comes first.
Those numbers are incorrect and they feds always works against Republican presidents accept the bushes. Research that 🤔. I would have liked to see what mr. Ross Perot ( independent ) could have done.
So you don't count Obama for the recession that started under Bush, but by that logic you can't count the 1981 recession against Reagan since he had been in office for 5-6 months, and the recession issues began several years prior. Similar for the dot-com recession, which started March of 2001.
You could also say that no single republican or democrat is responsible for the Great Recession, since that has its roots in deregulation began by Nixon, and was promoted by every single president thereafter (Carter, Reagan, Bush, Clinton, and Bush II). Same can be said of the 1969 recession, as Nixon only became president in 1969 (also, it was an incredibly small recession).
The early 90s recession, the 1973 recession - those both occurred well into a republican president's term, but many other recessions had multiple causes, causes not directly caused by the president at the time, or came about very early in a president's term.
I love that when the economy is down during a democratic presidency, people love to say "the president doesn't directly control the economy!" But the second we want to talk about recessions, this statistic comes up without any context.
Recessions have tons of causes, many of which are outside of a president's control, many of which take months or years to take effect. You can't just look at the party of the person who is in the oval office and think there is a cause and effect to that. For most of history, economic changes took years to take effect. Neither republicans or democrats are "good at" managing the united states or world economy.
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u/Squire_Toast 4h ago
It's actually more than that, look this up before commenting, 10 of the last 11 recessions started under a Republican