President Clinton made a shocking statement at the DNC. 50 of the 51 million jobs created after the Cold War were under Democratic presidents. MSNBC fact-checked it. IT IS TRUE.
Democrats are responsible for most jobs.
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The narrative that Democrats are better for job creation than Republicans is not just political rhetoric—hard data back it. In a powerful piece of commentary, Bill Clinton, one of the most successful Democratic presidents in terms of economic performance, underscored a stark reality. Since the end of the Cold War in 1989, the United States has added approximately 51 million jobs, and 50 million were created under Democratic administrations. This assertion initially met with skepticism, has been repeatedly verified, painting a clear picture of the economic prowess of Democratic policies.
The Numbers Don’t Lie
The claim that Democrats are responsible for 50 of the 51 million jobs created since 1989 is true. When one delves into the data, the difference between Democratic and Republican administrations becomes strikingly evident. For instance, during Bill Clinton’s presidency, the economy added a staggering 23.1 million jobs, a record that remains unbeaten today. In contrast, George W. Bush, who followed Clinton, only managed to add 2.5 million jobs over his two terms.
Ronald Reagan, often heralded by Republicans as an economic savior, added 16 million jobs during his presidency. While this number is significant, it pales simultaneously compared to the 7 million more jobs created under Clinton. Jimmy Carter, often overlooked in these discussions, added 10.5 million jobs in his single term, a performance better than Reagan’s on a per-term basis. These numbers unequivocally demonstrate that Democratic policies consistently yield better job growth.
The Power of Keynesian Economics
One of the critical reasons for the Democrats’ superior job creation record is their adherence to Keynesian economic principles. Named after the British economist John Maynard Keynes, this approach emphasizes the role of government intervention in stabilizing the economy, especially during downturns. Despite his conservative rhetoric, Ronald Reagan implemented policies that mirrored Keynesian economics by cutting taxes and increasing government spending, particularly in the military. This paradoxically Keynesian approach by Reagan is what contributed to his relatively strong job creation numbers.
However, Bill Clinton took a more traditional Keynesian route by focusing on investment in technology, education, and other social investment spending. His policies resulted in an economic boom that created more jobs than any other president in modern history. Barack Obama, despite inheriting the worst economic crisis since the Great Depression, also adhered to Keynesian principles through the stimulus package and other interventions, ultimately leading to a recovery that added 11.3 million jobs.
The Messaging Problem
Despite these impressive numbers, Democrats often struggle to communicate their economic successes to the public. The right-wing media and Republican politicians have been more effective in promoting the narrative that Republicans are better for the economy, even though the data tells a different story. This disconnect between reality and perception is partly due to the Democrats’ historical reluctance to tout their economic achievements aggressively.
However, there are signs that this is beginning to change. The Democratic Party has become more comfortable embracing its pro-union stance, a critical element of its economic platform that has historically been downplayed. At the recent Democratic convention, union members and leaders were front and center, highlighting the party’s commitment to working-class Americans and the labor movement. This renewed focus on labor could help bridge the messaging gap and allow Democrats to better capitalize on their economic successes in the future.
The Republican Paradox
It’s important to note that Ronald Reagan was the only Republican president in recent history who came close to the Democrats in terms of job creation, and that was because he borrowed heavily from Keynesian economics. Other Republican presidents, such as George H.W. Bush and George W. Bush, presided over much more modest job growth, with the latter even leaving office with the economy in free fall due to the 2008 financial crisis.
The paradox here is that while Republicans often criticize government intervention and advocate for laissez-faire policies, they have seen significant job growth when they adopt policies that align with Keynesian economics, the very approach they often deride. This contradiction underscores the fundamental flaws in the Republican economic model, prioritizing tax cuts for the wealthy and deregulation instead of investing in infrastructure, education, and the social safety net—policies that have consistently led to economic growth and job creation under Democratic administrations.
Conclusion: Democrats as the Stewards of Job Creation
The data is clear: Democratic policies have been overwhelmingly responsible for job creation in the United States since the end of the Cold War. While Republicans may be more effective in messaging their economic narrative, the reality is that their policies have consistently fallen short in delivering jobs and economic growth. As the country moves forward, it is crucial for Democrats to continue implementing policies that promote job growth and improve their messaging to ensure that the public is fully aware of who the true stewards of the economy are. The future of American workers depends on it.
If Democrats can successfully convey this message, they stand a better chance of maintaining and expanding their influence, ensuring that the economic prosperity they have historically delivered continues to benefit all Americans.