Strangers in Their Own Land: Anger and Mourning on the American Right

by Arlie Russell Hochschild

“The economy always does better under a Republican president.” For the years 1949–2009, unemployment has been lower and gross domestic product has been higher under Democratic presidents. Political scientist Larry Bartels has also shown that inequality has increased greatly under Republican presidents and decreased slightly under Democrats. Recently, economists at Princeton confirmed that the U.S. economy has grown faster under Democratic presidents, who have also produced more jobs, lowered the unemployment rate, generated higher corporate profits and investments, and seen higher stock market returns. They attribute this, however, to the timing of oil shocks and when major technologies debuted that had positive effects on the economy (e.g., the Internet under Clinton)—in other words, some of the correlation is due to factors outside a president’s control. Republican presidents have also added far more to federal debt levels than Democrats have, as a percent of GDP; since 1945, Reagan has added the most, with an almost 60 percent increase in federal debt to GDP. Presidents Truman, Kennedy, Johnson, Carter, and Clinton all managed to reduce debt as a percentage of GDP.