Capitalism and Skepticism

BALTIMORE – As each new day brings word of another Wall Street bailout even more colossal than the last, one question presents itself with ever-increasing force: why does America’s economy perform so badly under Republican presidents?

The facts are hard to dispute; indeed, the historical record is now so stark that diehard Republicans are probably starting to wonder if there is a curse. Over the period for which modern statistics are readily available, Democrats have outperformed Republicans by almost every traditional measure of economic performance (per capita GDP growth, unemployment, inflation, budget deficits).