Businessmen as President?

Mitt Romney is hoping to become President and is touting his business experience as the best reason why he should receive our votes. 

Of the men who have sat in the big chair in the Oval Office, only six of them have had any business experience at all.  They have all been elected within the past 100 years.  Those six are:

Warren G. Harding owned and operated a newspaper.           

Herbert Hoover was a mining engineer and investment banker.

Harry Truman owned a haberdashery.

Jimmy Carter was a peanut farmer.

George H.W. Bush, oilman, founded of Zapata Petroleum

George W. Bush, oilman, owned the Texas Rangers

The historical rankings of these men as President are as follows:

Warren Harding 43           

Herbert Hoover 29           

Harry Truman 7

Jimmy Carter 27

George H.W. Bush 22

George W. Bush 34

I am surprised that Carter ranks as high as he does.  I have always thought that he was the best person to hold the office, but that he was also the most ineffective.  That's why they have these historical rankings, and why they ask the political science and history experts to judge not me.

Let me examine each briefly. 

Warren G. Harding arguably ended up with the most corrupt administration in history.  After he appointed several of his donors and friends to positions, several scandals ensued, most notably the Teapot Dome Scandal.  Although his policies help the post World War I country recover, the nation still suffered three recessions during his term.

Herbert Hoover's ineptness in the handling of the stock market crash of 1929 led to his losing reelection to Franklin Roosevelt.

Harry Truman took over after Roosevelt's death, dropped the boom on Japan, and had to endure, in part, the goofy Joe McCarthy era.  His haberdashery was a failed business.

Jimmy Carter left the military to take over the family peanut farm.  He served a term of recession and high unemployment.  After he left office the business failed for a variety of reasons. 

The first Bush was a successful businessman, but he could not help the nation out of a recession and served only one term.

The second Bush was not as successful as his father in the oil business, but did make a profit on his sale of the Texas Rangers.  His Presidency saw a cut in the tax rates and an increase in the wealth gap in this nation.  Despite entering office with a surplus, he and his GOP controlled Congress quickly eliminated that surplus and ramped up national spending over his eight years in office.  The growth of federal spending increased by 7.3 percent and 8.1 percent in his two terms. 

For comparison the growth of spending under Obama so far has been a mere 1.4, the lowest in thirty years. (Click here for Wall Street Journal numbers) 

Four of the six men with business experience were Republicans.  Five were successful.  Only the highest ranked, Truman, was not a successful businessman. 

Why do we keep hearing that only a businessman can lead this nation?  The evidence shows that it doesn't make a difference.  Well maybe it shows that if you can't run a business you can still be a damn good President like Truman.  But, if you are successful in business, odds are that your Presidency will be less than stellar.