Congress holds purse strings
Talk about misinformation (“Market best under Democrats” – Nov. 15). Margaret Davies should do some research before regurgitating partial information.
The Spokesman-Review should have expanded the story to include control of Congress as well as the president because everyone knows (or should know) that the president really has very little power when it comes to the economy. Congress controls the purse strings and creates laws, so therefore affects the economy much more.
Presidents Bill Clinton and George W. Bush had their best years when Republicans controlled both House and Senate, and had their worst years when Democrats controlled them. And the long stretch when Democrats controlled both between 1955 and 1980 ended with one of the worst economic periods we’ve ever had before Republicans gained some power over spending again.
So, before giving credit to the president, dig a little deeper to see who’s controlling the real power of the purse strings.