Wry Catcher
Diamond Member
- Banned
- #81
One could argue that Franklin Roosevelt hated business. His family had been rich for generations. He viewed businessmen as social inferiors.
Nevertheless, there was nearly as much economic growth during his first term as during the terms of Warren G. Harding and Calvin Coolidge. There was certainly more job creation. After his inauguration in 1933 there was a steady decline in unemployment except for a year after 1937 when he reduced government spending.
Roosevelt's method of ending the Great Depression was fairly simple. He raised taxes on the well to do, hired people at government expense, and raised wages of people in the private sector by passing a minimum wage law and by strengthening labor unions.
Those who claim that the New Deal did not end the Great Depression, the Second World War did, forget that military spending and employment is government spending and employment.
More recently, from the presidencies of Harry Truman to that of George W. Bush there was nearly always more job creation per year under Democratic presidents than under Republican presidents.
Thanks for a clear and concise post. I'm surprised the echo chamber has not yet responded with quotes from the latest tome published by the Ministry of Truth. Soon another thread will be posted by a member of the reactionary forces on the fringe of the Republican Party [yes PC that b u).