Generally speaking, Republicans tend to restrict government intervention in the economy, while Democrats believe that government involvement may be more beneficial. However, there are a multitude of methods and equipment that politicians can use to influence the economy.
Princeton University economists Alan Blinder and Mark Watson say the economy has grown faster under Democratic presidents than under Republican ones. However, there are many points at stake, coupled with global economic and political forces, that make it difficult to verify this claim.
Both Republicans and Democrats can use financial and fiscal policy tools to try to mitigate the effects of a recession. This could include converting the money supply, adjusting the federal budget rate, and converting aspects of the tax code.
The New York Times. The Republican Party delivers its 2020 platform. It dates back to 2016. “
Republican National Committee. “Republican Platform 2016”. Page 1.
Republican National Committee. “Republican Platform 2016”. Page 2.
Democratic National Convention. ” Democratic Party Platform 2020. “Pages 11, 14.
Democratic National Convention. Democratic Party Platform 2020. ” Pages 22-23.
Blinder, Alan S. et Mark W. Watson. “Presidents and the American Economy: An Econometric Exploration. National Bureau of Economic Research, Working Paper No. 20324, July 2014, p. 1.
Blinder, Alan S. and Mark W. Watson. “Presidents and the American Economy: An Econometric Exploration. ” » National Bureau of Economic Research, Working Paper 20324, July 2014, summary page.
Bloomberg. La U. S. Economy on Election Day: Where It Stands and What It Means. “
Pew Research Center. In the United States and around the world, inflation is at its highest and rising. »
Political fact. ” That’s how the deficit has affected Republican and Democratic presidents, from Reagan to Trump. “
Blinder, Alan S. et Mark W. Watson. “Presidents and the American Economy: An Econometric Exploration. National Bureau of Economic Research, Working Paper 20324, July 2014, pages 1-63.
The White House, Office of Management and Budget. ” Historical paintings”. Table 1. 1: Summary of revenue, expenditure and surpluses or deficits (-): 1789-2025. Pages 27-28.