“I guess Steve missed the study released from UCLA in the last couple weeks that showed that FDR’s policies extended the Great Depression by 7 years.”
The important thing is that the great depression was fostered by 3 things – high tariffs, high taxes, and deflationary monetary policy.
And since FDR never fixed the real causes, he never really cured anything. He applied New Deal snake oil that did absolutely nothing to help the economy but act as snake oil to give the impression that ‘something’ was being done. Alleviate symptoms not the disease.
Our economy really only came back after WWII and the post-war GOP Congress relaxed some of the New Deal legislation and laws.
Japan went through a similar experience in the 1990s. They tried Keynesianism. It failed. Japan had a ‘lost decade’ of zero growth.
Obama and the Democrats will do a similar thing now. Their policies will create a sluggish economy, they will solve absolutely nothing. However, since the result of their failed policies will make people poorer, the economic insecurity will ironically lead to political success, as more people desire/demand a handout to alleviate their condition.
Only a clear and bold market-oriented New Conservative Ecnomic Agenda will take us out of the wilderness.
“FDR was a great war President but his domestic policies were a disaster.”
Actually he was a lousy war President in many ways, but lets deal with one phony liberal rewrite of history at a time.
