Obama patterns himself after Franklin D. Roosevelt and tries to do as his hero did to get us out of the depression. We who suffered through the thirties thought Roosevelt’s financial maneuvers were on the mark because we knew less than he did about how to solve it. As it turned out his financial magic was a disaster. In 1929 the U.S. unemployment rate was the lowest in the world. In 1932 at the low point of the depression nearly 30 percent of the work force was unemployed. But by 1938, after two terms (8 years) of Roosevelt's destructive programs the unemployment rate was still 25 percent. We can give him credit for realizing Hitler was evil, and gearing us up for a war that may have saved the world.
It was the war that got us out of the depression.
1 comment:
Thank you for pointing this out. As someone who is a great deal younger, it is a fact that I would not have thought to look up.
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