Why Do People Trust Republicans More Than Democrats on the Economy?

Voters consistently list “the economy” at the top of their list of concerns, for good reason. Unfortunately, even as Republicans are more open about their defense of capitalist interests to the detriment of everyone else, polls also show that voters still have less faith in Democrats when it comes to managing the economy. Jen Pan examines why this might be the case, and argues that the role of NAFTA as an intense betrayal is still felt among many voters.

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[jessewood]

It reminds me of the principle that we ultimately spend more energy and suffer more from our fake friends, than we do from our outright enemies.

[jesusacosta]

The economy has always perform better under Democrats than Republicans. Further more, every Republican administration has faced a recession.

[peterstafford]

Since Reagan people have thought the GOP is better on the economy. Its wrong.

[brianlaudrupchannel]

Theres no such thing as trickle down economics. No such theory exists.

[oomenacka]

Ring wing propaganda is also just really effective. The squad has pushed (with more or less success) for social democracy in the us, yet your average right winger is more focused on their race, gender, and abstract ideas about their democratic party affiliation than anything material that they're actually doing. It turns out that fewer people than you think really care about policy.

[jeffreycheng]

Reagan and Thatcher. The Ultimate Team.

[wvu]

My theory: Republicans actually celebrate gains, no matter how small, whereas Democrats tend to complain about anything not going well. For example: look at all the talk of inflation. No news stories on 2018 pointed out the obviously inflated stock market that was headed towards an inevitable fall.

[brianlaudrupchannel]

Democrats higer gdp does not mean better economy, you have more chance affording a nice house etc in republican states than democratic states

[venividivici]

The answer to this question is simple. The majority of Americans have never taken an economics class in their lives.

[TheCommuted]

The wealth of nation should be based on median weath. The US is North of 25th in the world

[sugardragon]

Bernie Sanders has been fighting for so long...😥

[rrubens]

Great topic enjoyed the krystal ball and Chris hedges clip too

[browk]

Answer: people take austerity very seriously, and think everyone deserves tax cuts

[colibri]

It is, though, odd that so many Americans don't learn that Republicans/Libertarians are more devoted to investors' rights agreements like NAFTA etc than Democrats, as you say here when you mention that NAFTA was supported by Reagan before Clinton took it up, i.e. Democrats are just following the Republicans'/Libertarians' lead.

[kevinth]

Sounds great and oh so logical. Now explain Canada, where this theory falls flat on its face.

[MattmanAZ]

Both parties have terrible monetary policies based on ever expanding fiat currencies.

[colibri]

Another big reason for the switch among Democratic voters to the Republican party in the early 1990s is because of the newly nation-wide right-wing media enabled by Reagan's deregulation of the media in the late eighties. You see a huge switch to the Republicans among particularly white voters then after exposure to right-wing media. That's also when you start seeing hundreds of the right-wing paramilitaries called militias springing up all across the country, for the same reason, the poisonous influence of right-wing media being allowed to spread nation-wide at that time and turning whites particularly into enraged lunatics with an irrational hatred of Democrats and "the left, " something they didn't feel before hearing the likes of Rush Limbaugh et al.

[RoobieRhoo]

That's odd because free trade and deregulation are neoliberalism (Reaganomics) ideals. Clinton rode the wave from the "roaring" 80's, a system which finally crashed in 2007. Republicans voted not to offer sufficient fiscal stimulus to recover the economy because they do not like it when democratic Presidents spend money and raise the national debt because Republicans also do not like to increase tax revenue on the wealthy to grow the economy, either.

This left the Federal Reserve and trickle down economics as the only game in town and resulted in an agonizingly slow recovery while the financial system was necessarily bailed out to prevent a depression. Main street was left to struggle, the labor force participation rate fell, and the occupy Wall Street and Tea Party movements which led to Donald Trump's populist movement.

Not until CoVid did the US finally get the fiscal stimulus needed to recovery quickly and finally bring in the inflation the Fed needed to come off the zero interest rate policy ending the era of free money thus returning our economy to a more normal higher interest rate policy stance. The banking system will have to adjust to a more normal Fed policy stance and hopefully lower inflation to its 2% target.

It's interesting to note there is a theory of price level targeting as opposed to 2% inflation targeting. That is the idea to allow inflation to run a little hot for a period so, in theory, wages and prices would move to the price level trend prior to a supply shock such as the financial crisis and the pandemic lock down. Fed Chairman Bernanke did not favor that idea, but Chairman Powell may have experimented with it while calling inflation transitory.

[adhhxgxhhg]

Great video, glad to see this wasn't a "harm reduction" apologia for the dnc.

[sp]

DUUUUH just look at California this is exactly where the country is going