Hillary Clinton wants Americans to believe the economy does better with a Democratic president than a Republican in the White House—that is simply false.
Unless a president presides over an absolute economic disaster—as did George W. Bush or Herbert Hoover—comparing one with another is tricky business.
So much depends on the circumstances each inherits and the state of the wider global economy.
The best apples-to-apples comparison is between the rather difficult conditions presidents Ronald Reagan and Barack Obama inherited and how the fortunes of America’s families then progressed, with Reagan relying on conservative prescriptions and Obama on activist government to stimulate growth.
Obama took office during a terrible financial crisis and endured a punishing recession. Unemployment peaked at 10 percent in his first term but since then, the economy has reclaimed and added 13.2 million jobs and employment is up about 10 percent.
Reagan faced tough times, too: double-digit unemployment and interest rates and a bruising recession. Unemployment peaked at 10.8 percent but subsequently the economy added more than 17.2 million jobs and employment rose about 20 percent.
