History Lesson

2_great_depression

The New Deal didn’t work. Yeah, I said it.

Simple math really.

Stock Market crashes, 1929.

Herbert Hoover (R), is in office. He starts down a path of regulation, big government and other programs to fix the downturn instead of leaving it alone.

Economy sinks further, and Franklin Roosevelt (D) is elected in 1932. Unemployment at 25%.

“New Deal” passes. Lots of big government programs, social security, spending, etc, 1933.

Second “New Deal” passes. Even more spending, 1935.

Unemployment still at 15% in 1937, and rose in 38, and 39.

Unemployment is still high and still in a Depression, 1940.

December 7, 1941: World War II begins, Depression is over.

Nine Years of Big Government. It didn’t work folks.

Reagan inherited a horrible recession, inflation, and unemployment from the disaster of Jimmy Carter in 1980. Within two years of tax cuts, and staying out of the private sector, the economy was booming, and by the time he left office, America was unbelievably prosperous.

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Published in: on February 10, 2009 at 8:58 pm  Leave a Comment  
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