DomYngBlk -> RE: Is a Businessman President Good for Business? (10/21/2012 5:35:26 PM)
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ORIGINAL: dcnovice Historian Robert S. McElvaine says no. While it sounds intuitive that a businessman would have the surest handling of the economy, the data suggest otherwise. quote:
Since Herbert Hoover’s 1928 election, the American people have voted out of office after a single term only three elected presidents: Hoover, Jimmy Carter and George H.W. Bush — all of whom were successful businessmen before they were president. And the only successful business-trained president who was reelected, George W. Bush, oversaw an economic collapse at the end of his second term. As measured in constant 2005 dollars starting on Jan. 1 of the year after they took office — the economy’s performance in the first year of a presidency is better assigned to the preceding administration — the four presidents with successful business careers had the four worst records in terms of gross domestic product performance. . . . The startling bottom line is that the nation’s GDP has grown more than 45 times faster under presidents with little or no business experience than it has under presidents with successful business careers. And on average, when there has been a successful businessman in the Oval Office (so, Truman is excluded), GDP growth has been negligible. On average, under presidents with successful business experience, GDP has increased 0.12 percent. And under presidents with little or no business experience, GDP has grown 5.46 percent. Complete essay at The Washington Post Thoughts? Perhaps the skills that work in business are different from those needed in government? Bush worked out well..fuck no
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