To the editor:
The most common political message delivered by the American people during election years is the rather rude phrase, “It’s the economy, stupid!” In the present day, this issue resonates with particular vigor.
Democrats have prioritized investing in the middle class, supporting small businesses and improving economic resilience. This is known as Keynesian economic theory. It is clear that Democratic administrations consistently help the U.S. economy perform better than Republican administrations. Of the 11 recessions in the modern era, 10 have begun under Republican presidents. Let us not forget the economic downturn that cost Donald Trump the presidency in 2020.
Republicans make tax cuts their signature goal, benefiting the wealthy. This is known as “trickle down” economics, which is both a misnomer and a failure. They mask their failure by launching incessant culture war attacks, sowing fear and doubt in American institutions. Check the Congressional Joint Economic Committee report from 2024.
Job growth has been greater under Democratic administrations since the 1980s. Under the last seven presidents, job growth was 50 million under Democrats as opposed only 17 million under Republicans. There were 2.7 million net job losses during Trump’s first term.
Again, under seven presidents, the unemployment rate was low at the end of all three Democratic terms and lower only under the Ronald Reagan administration. Under Trump, the rate jumped from 4.7% at his inauguration to 6.4% at his term’s end. Joe Biden got it down to 4.1% by September 2024. In manufacturing, the total number of jobs decreased by 178,000 under Trump and grew by 729,000 under Biden. A record of 19 million new business applications were filed under Biden, 70% of which were for small businesses.
Currently our economy is not serving the American people, but rather the president’s cronies. Inflation is raging as is the tragic war of choice started by Trump. The deficit and inflation soar on the heels of the massive tax breaks for the ultrarich and his tariffs. Trump’s love for the Arab states’ oil wealth is devastating middle class budgets. Inflation is climbing again. Trump won’t curb his greed and stop his vanity projects.
Since World War II, the economy has performed better under Democratic presidents with stronger job growth, lower unemployment, higher GDP growth and higher stock market gains.
Don’t let hateful governance blind you to the truth.
Stephen Menard, Shawano
