Democrats support economic policies that help low- and middle-income families.
Democrats support economic policies that help low- and middle-income families. Democrats understand that reducing income imbalance is the best way to encourage economic growth. This is because low-income families contribute extra money on food, medicine, and shelter. That raises more demand than policies that help businesses.
Democrats describe the American Dream as having the right to education, a good job, decent housing, and also healthcare. President Roosevelt first drafted the Economic Bill of Rights (in his 1944 State of the Union address). President Truman's Fair Deal offered specific legislation to promote this extended vision of the Dream. In 2010, the Democrats developed the Dream to include healthcare with the Affordable Care Act.
Does It Work?
Bill Clinton's economic policies encouraged a decade of successfulness. He produced more jobs than any other president. Home ownership was up 67.7 percent, the highest rate ever recorded. The poverty rate fell to 11.8 percent.
President Roosevelt's policies ceased the Great Depression by spending on job creation programs. He invented Social Security, the U.S. minimum wage and he also created child labor laws. The Federal Deposit Insurance Corporation limits bank runs by insuring deposits.
President Obama's policies stopped the Great Recession with the Economic Stimulus Act. It spent more than $224 billion in extended unemployment benefits, education and healthcare. It produced jobs by allocating $275 billion in federal contracts, grants, and loans. It lowered taxes by 288 billion dollars. Obamacare stalled the growth of health care costs.