Hoover turned a recession into a depression. But, FDR took the depression and made it GREAT.

“

The only things the New Deal succeeded in doing – prolonging economic recovery and growing the power of government.

"We have tried spending money. We are spending more than we have ever spent before and it does not work... I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot."



are startling. There is no doubt Obama inherited a mess caused by ruinous interventionist policy from previous administrations. The Bush administration

must be recognized as the antithesis of free-market;

a few examples include artificial expansions of the money supply, massive stimulus programs, radical increases in public debt, and politically motivated bailouts. As far as the economy is concerned,

just trying something

“If Coolidge made 1929 inevitable, it was President Hoover who prolonged and deepened the depression, transforming it from a typically sharp but swiftly-disappearing depression into a lingering and near-fatal malady... Roosevelt only advanced, to a greater degree, what Hoover had pioneered ... The Coolidge crisis had become the unprecedentedly prolonged Hoover-Roosevelt depression.”

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