How Four Republican Presidents Destroyed America’s Economy, and the Last Was the Worst

republican president
republican
Courtesy of Trump White House Archived (Flickr CC0)

The Worst Economic Policy in History

He called it “Supply Side Economics,” but it is better known as “Trickle-Down Economics.” The idea was asinine to begin with: “give the super-rich more money, and they will take care of the less fortunate. Ronald Reagan was no “economic genius.”

However, the three Republicans who followed him used the same failed fiscal policy, and the last, Donald Trump, was the worst, increasing the national debt by about 25 percent.

Trump Loves Using Other People’s Money

Of course Trump did something that no other president did in history. He was allowed to use the national treasury as his own personal bank account by the “give taxpayer money to the rich” party. He was seldom in the White House, spending most of his four years partying at Mar-a-Lago, golfing at one of his resorts, and holding rallies in red states. When he was in the White House, he was watching television or talking to Fox News personalities on the phone. Most of the cost of his many, many excursions were at taxpayer expense. His use of Air Force One cost a whopping $200,000 per hour. Taxpayer money was also used to house multiple members of his entourage, and of course the Secret Service.

Four Republicans, Four Failures, Bigger Deficit

Each of these four Republicans added to the deficit. When Reagan left office in 1989, the debt was nearly one-trillion dollars. His Democratic successor, Bill Clinton, left office in 2001. Not only had he erased the national debt left by Reagan and George H.W. Bush, the treasury experienced a surplus for the first time in decades.

However, when George W. Bush left the White House in 2009, the national debt was once again in the trillions. Two unwinnable and costly wars, combined with Reagan’s trickle-down economic policy, pushed our nation into what became a “near depression.” However, to hide his administration’s mistakes, the cost of the wars in Afghanistan and Iraq were not included in the nation’s budget.

To say that President Barrack Obama was left with a “mess” may be the greatest understatement in history. However, he selected some of the best economic minds in our nation as his advisors. When he left office in 2017, the recovery was “full speed ahead,” until Donald Trump removed many of Mr. Obama’s policies and once again implemented Reagan’s policy of giving tax breaks to the wealthy and their corporations.

Trump chose some of the least qualified people for his administration, with the exception of his first Secretary of Defense, James “Mad Dog” Mattis. His personal philosophies were reducing taxes for his wealthy friends, and spend money freely for his own benefit. When he was evicted in 2021, our economy was nearing another recession.

Democrats Prove to be Competent and Efficient Leaders

With a Democrat in the White House our nation’s economy is beginning to grow. Jobs are available for those who want them, and the average wage has been increased. The housing market is strong. New apartments and single-family homes are springing up all over in Norther Nevada. “Greedflation” is a problem, but it is not preventing overall growth.

Republicans have proven themselves incapable and unwilling to create efficient and wise economic policies. They are the party of special interests.

Op-ed by James Turnage

Find my novels on Amazon’s Kindle

 

Sources:

Law and Crime: Kellyanne Conway’s Husband Trolls the Trump Economy in One Tweet About the National Debt

Intelligencer: Kellyanne Conway Tells Trump to Blame His Advisers for Losing in 2020

 

Top and featured image courtesy of Trump White House Archived‘s Flickr page – Creative Commons License

Leave a Reply

Your email address will not be published. Required fields are marked *