Uhhhh, did Bush inherit a depression?
Man, I have never seen anyone work so hard to perpetuate their own mythology of hatred of FDR as waaaaay past his prime...
Man, I have never seen anyone work so hard to perpetuate their own mythology of hatred of FDR as waaaaay past his prime...
Quote from Pa(b)st Prime:
In 1934 21.7% of American's were unemployed. In 1938 the figure still stood at 19%. If that's a gigantic improvement then you're delusional.
GDP didn't eclipse 1929's levels until 1937. (the adjusted data you posted is messed up in the 1930's because it assumes deflation during that period). The REAL data is what it is.
http://www.huppi.com/kangaroo/GDPreal.htm
Stocks improved under FDR in 33-37 about the same as the NAZ has bounced under Bush. In fact a Dow 1923-1937 chart has close serial correlation to Nasdaq 1994-2007. Do you give Bush props for the post 9/11, post Clinton tech bubble?
I'm sure you don't.
Naturally in your view deficit spending under FDR equaled good (7% of GDP vs. Bush's 3.5%) while Bush deficits are bad.