Paul Krugman: Partisan Growth Gaps

Last week The Wall Street Journal published an op-ed article by Carly Fiorina titled “Hillary Clinton Flunks Economics,” ridiculing Mrs. Clinton’s assertions that the U.S. economy does better under Democrats. “America,” declared Ms. Fiorina, “needs someone in the White House who actually knows how the economy works.”

Well, we can agree on that much.

Partisan positioning on the economy is actually quite strange. Republicans talk about economic growth all the time. They attack Democrats for “job-killing” government regulations, they promise great things if elected, they predicate their tax plans on the assumption that growth will soar and raise revenues. Democrats are far more cautious. Yet Mrs. Clinton is completely right about the record: historically, the economy has indeed done better under Democrats.