José E. Pérez
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Presidential Elections from Truman to Trump

From the 1948 until the 2016 election year, republicans won on ten occasions and democrats in eight. For the period, democrats were able to achieve a cumulative average annual increase in the GDP of 3.5%, and obtained a meaningful 13 million in average job growth per term. Democrats were better fiscal conservatives with an annual budget deficit of $917 million in comparison to $1.6 trillion for the republicans. The stock market increased 569% on the democrat’s tenure versus 306% for the republicans. It is clear that the economic performance of democrats was substantially better, suggesting that republicans have been able to do much better at the polls with a less impressive economic and fiscal record. The economic metrics of Clinton’s presidency were impressive. He was able to wipe out the budget deficit in eight years and finished his term with a surplus of $7.8 million. Under his command, 22.9 million jobs were created, and an annual GDP growth rate of 3.9% was achieved. The stock market increased 210% by the end of his presidency. In contrast to Clinton’s record, Bush II implemented controversial political and economic policies. He directed military actions in Iraq and Afghanistan simultaneously. The cost of his two wars to taxpayers has been estimated at $6.4 trillion, fully financed by borrowings. He left a cumulative deficit of $3.2 trillion, and the stock market declined by 51%.

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sábado, 19 de noviembre de 2022

La promesa rota de la reestructuración de la deuda

Si hubiéramos apoyado a la Junta desde un principio, quizás la deuda pudo haberse reestructurado en tres años… Mientras sigamos ignorando nuestros errores financieros, estaremos condenados a repetirlos, escribe José E. Pérez

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