A lot of time, effort and money goes into presidential and national elections in the United States, and this year is no exception.
But combing through the data since 2009 shows that no matter who was in power, the economy seemed to be equally driven by global events, demographic developments and decisions made in the White House.
The period from 2009 to 2024 covers both of Barack Obama's two terms in office, plus the single terms of Donald Trump and Joe Biden, whose presidency is now coming to an end.
There were two major disrupters for the economy during this period. The first was the financial crisis that started before Obama took office in January 2009, and the second was the COVID-19 pandemic that struck in the final year of the Trump administration in 2020.
The financial crisis led some to fear the collapse of the entire banking system. Soon afterward, GM and Chrysler, two of the biggest American carmakers, declared bankruptcy to reorganize their businesses, and the housing market, specifically mortgages, spun out of control.
The COVID-19 pandemic had a more immediate impact on the US and global economies. Lockdowns, shortages due to delicate supply chains and the closure of borders caused deaths, economic chaos and massive job losses.
Partly through large stimulus checks, the US managed to quickly escape the pandemic slump,........