Republicans are wrong - the New Deal was a success

[Joanne98]

Since the economic crisis we're now in is being compared to the Great Depression, the solutions being offered are being routinely compared to the New Deal. Republicans in particular have been quick to pronounce the New Deal a failure as a way of justifying their opposition to the new stimulus package and any other federal response to our new Great Depression.
U.S. Rep. Steve Austria, R-Ohio, is so angry at the New Deal that he told an audience recently that Franklin Roosevelt's New Deal actually caused the Great Depression - quite an achievement given that the Great Depression was already three years deep by the time FDR was elected.

Whatever you think of the Obama administration's proposals, to declare the New Deal a failure gets the history fundamentally wrong. The legacy that FDR created proved remarkably successful and remarkably enduring.

The New Deal operated at three levels: first, the programs established by the New Deal worked immediately to bring economic relief; second, the long-term changes the New Deal made to the structure of our economy brought the cycles of the economy under better control; and, finally, the New Deal re-shaped the social contract between our citizens and our government.

We usually associate the New Deal with the programs it created to put people to work, such as the Works Progress Administration and the Civilian Conservation Corps. Republicans hated these programs. They denounced the WPA as "We Putter Around." But the New Deal did provide jobs to hundreds of thousands of unemployed Americans, and while they "puttered" those workers managed to build tens of thousands of bridges, paved countless miles of roads and planted 3 billion trees.

http://www.pressofatlanticcity.com/145/story/410108.html

[Captain Hilts]

1. Got that right.

FDR: Bravo Joanne98!
ER: Isn't that Joanne98 a dear?
FDR: Indeed she is!
ER: This whole debate reminds me why I'm not a Republican any more!

[Idealism]

2. Wheres Fala?!

[Captain Hilts]

3. Not born yet. But Meggie is...

you'd be surprised how many people bring their dogs to pose for photographs with Fala.

[theoldman]

4. The New Deal was a success because things got better, not worse.

Under Bush things got worse. Why is this so difficult to understand?

[mikekohr]

5. Republican Economic Record 1929-2008

1). FEDERAL SPENDING: since 1960 Republicans increased Federal Spending by 71% more than have Democrats

2). FEDERAL DEBT: since 1960 Republicans have increased the National debt by 100% more per year than have Democrats.

3). GROSS DOMESTIC PRODUCT: since 1921, adjusted for inflation, Democrats outproduce Republicans by 43% . Starting in 1940 the Democratic advantage is 23% better.

4). REAL PER CAPITA INCOME: since 1960 Democrats have outperformed Republicans by 30%. (This is perhaps the most important economic statistic of all)

5). INFLATION: since 1960, Democrats outperform Republicans 3.13% to 3.89%

6). UNEMPLOYMENT: since 1960 it decreases in an average Democratic year by 0.3% to 5.33%, and increases in average Republican year by 1.1% to 6.38%.

7). JOB CREATION: from 1945 to 2003, Democrats produced 174,200 jobs per month, Republicans have only produced 60,600 per month. Every time a Democrat succeeds a Republican, job creation soars. Every time a Republican succeeds a Democrat job creation plummets. NO EXCEPTIONS!


8). DOW JONES AVERAGE: since 1921 the DOW has increased by 52% more under Democratic administrations

9). THE BOND MARKET: since 1940 the value of 10 year Treasury bonds rose 1.2% under Democrats and fell 0.5% under Republicans

SOURCES-Bureau of Labor Statistics, Economic Policy Institute, Christian Science Monitor, AThe Los Angles Times -Michael Kingsley-

by mike kohr 3/7/2006



A HISTORY OF RECESSION IN THE UNITED STATES 1950 TO 2008
Written by: mike kohr 2/12/2008
There is a pattern here that is plain to all but the most partisan. Nine of the last ten recessions have occurred under the direction of Republican economic policy. And history does repeat itself. Look at the three greatest slowdowns in US economic history, 1929*, 1982, 2008, all three were attributed to poor economic and tight credit policy, all three featured deregulation and lack of oversight of the financial markets, and all three were presided over by a Republican President.

Recession/Depression of 2008 George W. Bush(R) Greatest downturn since 1929, blamed on lack of regulation of financial markets and collapse of credit markets

Recession of 2001 George W. Bush(R) Began in April of 2001, marked the beginning of greatest deficit spending in all of recorded human history

Recession of 1990-1991 George H.W. Bush(R) Deregulation of Savings and Loan industry led to a collapse and panic, which led to election of Bill Clinton, who produced the greatest increase in jobs and wealth in all of recorded human history

Recession of 1981-1982 Ronald Reagan(R) At the time, the most severe contraction of economy since the Great Depression, massive deficit spending/deregulation of markets, and tight fiscal policy in an effort to kill inflation were blamed for this downturn **

Recession of 1980 2nd & 3rd quarters Jimmy Carter (D) Shortest and least severe slow down, generally attributed to Iranian Revolution and increase in oil prices, led to the election of Ronald Reagan

Recession of 1973-1975 Richard M Nixon(R) OPEC’s increase in oil prices and massive spending in the escalation of war in Vietnam led to stagflation, the second economic crash of Nixon’s administration

Recession of 1969-1970 Richard M. Nixon(R) Credited to Nixon’s escalation of and massive spending in Vietnam War and OPEC’s increase in price of oil

Recession of 1960 -1961 Dwight D. Eisenhower(R) Noted for high unemployment, low GDP, high inflation JFK ended the recession by stimulating the economy 10 days after taking office

Recession of 1957-1958 Dwight D. Eisenhower(R) Eisenhower achieved the dubious distinction of achieving a second economic downturn on his watch, a record later matched by Richard M. Nixon, and George W. Bush

Recession of 1953 Dwight D. Eisenhower(R) Increased outlays to National defense and restrictive credit policies blamed for this downturn
---------------------------------------------------------------------------------------------------------------------------------------------------------------

*The Great Depression of 1929 Herbert Hoover(R) Lasted for 10 years, blamed on Hoover’s economic policy and lack of regulation of financial markets
** “The Reagan Recession” which ran from the 4th quarter of 1981 thru the 1st quarter of 1982 is often categorized as starting under Carter’s watch during the 2nd & 3rd quarters of 1980. By the end of the 3rd quarter of 1980 that brief recession had rebounded. Starting in the 4th quarter of 1980, 3 of the next 4 quarters produced increased GDP. Reagan’s tight fiscal policy and massive deficit spending contracted the economy again in late 1981, producing unemployment of 10.8% and prime interest rates that hovered between 15% and 20.5%

http://recession.org/history
http://en.wikipedia.org/wiki/List_of_recessions
http://www.sjsu.edu/faculty/watkins/rec1980.htm
http://en.wikipedia.org/wiki/Economic_history_of_the_United_States#Deregulation:_1974.E2.80.931992

MONTHLY JOB CREATION RECORDS BY PRESIDENT AND PARTY

Many Americans are aware that George W. Bush has had the worst job creation record since the government began tracking these figures in 1939. But Bush's colossal failure to manage the economy overshadows a much larger story. The record shows two unmistakable patterns:

1). Every time a Republican succeeds a Democrat in the White House, the job creation rate plummets.

2). Every time a Democrat succeeds a Republican in the White House, the job growth rate soars. Every time! No exceptions!

Over the last seventy years, the decrease in monthly job creation when a Republican succeeds a Democrat is 68,913



Considering the steady growth in population of the United States during this time frame the job creation rate should steadily increase each month (currently it must grow by 138,000 per month to keep up with population growth). This trend only manifests itself when examining Democratic administrations:

Listed below is the average job growth increase for all terms served:

Democratic Record:
Truman +86,500
Kennedy +100,000
Johnson +191,666
Carter +216,666
Clinton +241,666
------------------
+167,200
Jobs gained per month


Republican Record:
Eisenhower +36,500
Nixon +141,666
Reagan +166,666
G. H. Bush +52,083
G. W. Bush +31,250
------------------------
63,853
Jobs gained per month






By: michael kohr Graphics by: Bonny Kohr 1/16/2009

http://blogs.wsj.com/economics/2009/01/09/... /
Wall Street Journal

[jtrockville]

6. Of course Republicans are wrong. Of course FDR's ND was a success.

Sad we need to say these things. Who are these people who still take Republicans at face value anyway?

[zbdent]

7. as much as they blather,

the media ain't liberal ...

[Lizz Levan]

8. Everyone but Limbaugh et. al know it

but unfortunately these miscreants are allowed to have radio shows in which they reach millions with their nonsense.

[wilsonbooks]

9. They are not wrong. They are lying and they know it.

Typical right wing tactics.

Want to start a War? No problem just Lie lie lie


Don't like the historical record. No problem. Change it by using lies.

[GeorgeGist]

10. The operative word is WAS.

The main reason for the New Deals demise is that Americans left the door open for capitalism (aka anti-socialism) to destroy again.