DEAR EDITOR:

In 2004, now President Donald Trump, told Wolf Blitzer, “I’ve been around for a long time and it just seems that the economy does better under Democrats than the Republicans.” I thought I would never agree with anything this president has said, but it seems he is correct. Nine out of the last 10 recessions have occurred under Republican presidents. If you check out PolitiFact’s Truth-O-Meter, the graph shows the Democrats do much better on job growth, business investment, GDP and budget deficits.

Allan S. Roth, a financial planner and Republican, gives us an insight into the stock market under Obama and Trump. According to him, U.S. stocks gained 21 percent for the first two years of the Trump administration. That translates into a 10 percent annual return, which is .5 percent points above the long-range average.  By comparison, U.S. stocks gained 71.2 percent in the first two years of the Obama administration. When Roth explained that stocks soared under Obama, many people responded to him that stocks had to increase as he took over in a market plunge. Roth pointed out that if that were true advisors didn’t know it and believed the opposite. He sighted 4,000 advisors in the TD Ameritrade platform allocated an average of 26 percent cash and bonds at the market high on Oct. 9, 2007, and nearly double that — 51 percent — on March 9, 2009, when the market bottomed! It is ironic that during all the stock market’s spectacular rise under Obama, corporations were under increasingly tough environmental regulations and thrived in spite of the increased regulation. We made substantial progress on CO2 emissions, and under Trump and Republicans, we are abandoning efforts by the government to save our planet.

Tom Heffernan

Ridgway