By almost every measure, the U.S. economy has fared better under Democratic Presidents than under Republicans. Some of this may be due to chance. A President, after all, does not control the timing of the economic cycle.
But I think a lot of it is due to the fact that Democrats historically have been more oriented to wage-owners, and Republicans to holders of financial assets. When there is a full-employment, high-wage economy, everybody does well. A policy of “percolate up” beats one of “trickle down.”
Here are links that show what I mean.
Politicians Lie, Numbers Don’t by Michael Kinsley
Presidents and Congress, Democrats and Republicans, Spending, Taxation, Debt and GDP on the Angry Bear web site.
The Laffer Curve in real life by Jay Bookman, a blogger for the Atlanta Journal-Constitution [added 9/20/10]
Here are charts if you don’t want to plow through the links. I admit I didn’t get sources for all the information in the charts, but you can get confirmation of the basic information in the links.
Also. keep in mind that, as they say on Wall Street, past performance is no guarantee of future results.
Jeb Bush’s Claims and Reality by Mark Thoma for Economist’s View. [added 9/26/2015]