A study released these days suggests that if Republicans would have controlled Capitol Hill in the current Congress, the US Budget deficit and Job market would have been worse than they are now.
This is what a Study says. However, FACTS say that the economy gained close to 200,000 jobs a month; the unemployment rate was at 5%; the budget deficits in the $240 billion range, and the Dow a few thousand points higher, when Republicans last controlled things on Capitol Hill.
Here are some detailed facts of the last three years that Democrats Controlled Congress, as of August 1, 2010, vs the last three years that Republicans controlled Congress, 2004 through the end of 2006.
JOBS!
Republican Years: 6.6 million gained; average monthly gain of 184,416 jobs.
Dem Years: 7.44 million lost; average monthly loss of 206,777 jobs.
UNEMPLOYMANT RATE!
Last three Republican Years: Dropped from 5.7% to 4.4%
Last three Dem Years: More than doubled from 4.6% to stand now at 9.5%
BUDGET DEFICITS!
Republican Years (ending/including with FY 2007 that started under Repub Controll): $734 billion in new debt – annual average $244.6 Billion.
Dem Years (ending/including the FY 2010): $3.15 trillion in new debt – annual average is $1.05 trillion.
NY EQUITY MARKETS! (DJIA, Nasdaq, S&P)
Republican Years: 20% to 25% gain, depending which index.
Dem Years: 18% to 21% loss, depending which Index.
In closing: I don’t know what theoretical stats researches used to get to the conclusion they came to in the Study. However, by looking at factual numbers, available at relevant websites, one sees clearly that Republican Control of Congress (especially if one wants to go back to 1995 all through the end of 2006) was the best for the nation’s economic and fiscal well-being that we had in any recent memory.
NOTE TO THOSE WHO RECEIVE MY POSTS VIA E-MAIL: if you have a comment that you want to send me regarding the issue I address or any posting in general, you can reply as you would in a regular e-mail: Hit the reply key; write what you please; press send, and I’ll be glad to read your thoughts.
NOTE TO THOSE WHO DON’T RECEIVE MY POSTS VIA E-MAIL: sign-up here to receive my writings directly into your inbox. Only your email address is needed.
Pingback: Liveshopping