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August 06, 2004
Voting your pocketbook
Michael Kinsley of the LA Times (founder of Slate) analyses some trends from 1960 to 2002 in "Democrats vs. the GOP: Do the Math" and comes up with some unsurprising (for me) results. Here's the meat:
Real growth averaged 4.09% in Democratic years, 2.75% in Republican years. Unemployment was 6.44%, on average, under Republican presidents, and 5.33% under Democrats. The federal government spent more under Republicans than Democrats (20.87% of GDP, compared with 19.58%), and that remains true even if you exclude defense (13.76% for the Democrats, 14.97% for the Republicans).
As Kinsley himself puts it, "past results are no guarantee of future performance," but I'd say the smart money should back the Dems over the GOP. Unless, of course, you are a millionaire with no brain. In that case, you should vote for the Republicans.
Posted by glyphic at August 6, 2004 08:32 PM