 clipped from www.realclearpolitics.comIn the first half of last century two presidents inherited recessionary economies from their predecessors. Both campaigned on smaller government, and both blamed the profligate ways of the previous president for their economic problems. One ended the recession in less than three years; the other lengthened it by seven. prior to FDR's interventions, "The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies." Somehow, though, FDR is considered one of the best presidents in the history of the country, despite the millions of people out of work and in the breadlines. Hoover is rightfully considered one of the worst, but perhaps FDR should be, too. As Rexford Guy Tugwell, one of Roosevelt's top advisors commented, "We didn't admit it at the time, but practically the whole New Deal was extrapolated from programs that Hoover started." President Obama has mentioned his fondness for FDR. Let's hope he soon comes to prefer Harding. |
"The light of the body is the eye: if therefore thine eye be single, thy whole body shall be full of light." --Jesus
"Sometimes the first duty of intelligent men is the restatement of the obvious" --George Orwell
"The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function." --F. Scott Fitzgerald