Why are people so quick to blame a presidential administration for economic downturns?

Question

Aren't some recessions really just economic cycles? For example, people blamed the Bush (republican) administration for the enron era, the stock market crash/recession, and high fuel prices of the early part of this decade. Yet one can easily look back to the Carter (democrat) administration at a time with some of the worst inflation in the history of the US (double digit) and high fuel prices. Is either party necessarily better for the economy?

Answer 1

It's very difficult for a newly elected president to cause so many changes, most of which President Bush faced when he was first elected. People never think to look at the last presidency for reasons why things happened in the first year or two of Bush. The previous president should have just as much to do with economic and social events that arise during the infancy of a new president.

I understand your reasoning that some recessions are just economic cycles, but you have to remember that many corporations depend on poiltical policies in order to determine taxes and other liabilities that may arise. And depending on the party in control, it differs. So political parties do tend to influence the market, based on the policies they have made in the past and policies they are forecasted to make today.

Answer 2

Right after the last presidential election, my husband was asked to do an economics lecture to some of the big customers in his business. He worked hard to keep it unbiased, as he had no idea of the political feelings of his audience. {also ,it was in his best interest not to lose these customers!}

He used facts and figures for comparison of Papa Bush's term, Cinton's 1st and 2nd term, and baby Bush 1st term. George W economic numbers were better than both Papa and Clinton's numbers. Largely due to Bush's tax rebates.It was meant to give the economy a boost by putting more money back into the market. It worked. I was surprised when my husband practiced his speech in front of me. If you listened to the media, you would get a complete different story.

Answer 3

What economic downturn. The question is, how does the media invent economic crisis so effectively!!

Everytime a school levy comes up, I vote against it because I'm tirewd of paying for the system that 'educates' so many gullible people.

Answer 4

When they are responsible, they deserve the blame.
Bush was responsible for the economy in this decade. He gave tax cuts to millionaires and then started a war.
This is like agreeing to buy a house, and then cutting your work hours from 40 to 20 per week. Economic suicide.

Answer 5

It's always easier to blame the government for what ever is wrong with the world. It's part of what makes people to reluctant to accept responsibility for their own current situations.

Answer 6

Yes, we all hope our government doing well in economic, but in some case when things not going well, those who are unreasonable and ill minded just blindly blame the government.

Answer 7

Simple. If current administrations takes the credit for "any thing" good during term they must also take "any bad".

Answer 8

Liberals will blame everyone else when they cause a problem, but are quick to take credit when they don't deserve it.

Answer 9

Because people don't do their homework and research things out properly.

Neither party is better for the economy.

Answer 10

Because the average person does not understand basic econ.

It's not a put down; it's just fact.