From WSJ.com (April 12):
It's a myth. FDR did not get us out of the Great Depression—not during the 1930s, and only in a limited sense during World War II.Not stated in the article, right after FDR died the Congress passed a presidential term-limit law. Why? Because he accumulated way too much power.Let's start with the New Deal. Its various alphabet-soup agencies—the WPA, AAA, NRA [the author might meant the NIRA] and even the TVA (Tennessee Valley Authority)—failed to create sustainable jobs. In May 1939, U.S. unemployment still exceeded 20%. European countries, according to a League of Nations survey, averaged only about 12% in 1938. The New Deal, by forcing taxes up and discouraging entrepreneurs from investing, probably did more harm than good.
What about World War II? We need to understand that the near-full employment during the conflict was temporary. Ten million to 12 million soldiers overseas and another 10 million to 15 million people making tanks, bullets and war materiel do not a lasting recovery make. The country essentially traded temporary jobs for a skyrocketing national debt. Many of those jobs had little or no value after the war. [read more]
Just think during his campaign Senator John McCain said this president he admired. Then he wonders why he lost the election. McCain still would have been better president than Obama.
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