MikeK
Gold Member
You are talking about Herbert Hoover, not FDR. And the "downturn" you mention was in fact a full-scale economic collapse. FDR commenced the mechanism of recovery by imposing a 91% tax on the rich and implementing the WPA and CCC programs -- which put money in circulation.FDR took a downturn in the economy and turned it into a soup line, bodies in ditches full scale depression in eight years.
That commonly held but nonsensical belief would be true if World War Two was conducted free of cost. But it wasn't. It was a financial disaster which was managed well by the FDR Administration. The advantage it did provide was a graceful introduction into the era of advanced industrial production that took place in the early 1950s.It took the carnage of a World War to turn the economy around.