Bush-Obama, Hoover-FDR

President Clinton likes to bask in the glory of the brisk economy of his years (like he did in the convention), when with a Republican Congress government spending was cut more than any other president's term in modern history.  There was a slight recession at the end of his term and beginning of Bush’s but not many remember since it was 9/11 that really sent the economy spinning.  In the final 2 years of Bush's term he was weakened by a Democratic Congress and tried bailouts and redistribution to turn around the economy (it's odd that Obama bad-mouths him so since he loves that too, but FDR did the same to Hoover). Hoover didn't cause the Great Depression--the Fed did that by inflating the value of money--and it isn't even part of the government. To goose the economy in 1932 Hoover not only increased government spending, but increased taxes by raising the marginal tax rate from 24% to 63%, and then FDR took it to 79% and then 83%, extending the Great Depression by many years. Bush and Obama had plenty of history to go on for their failed policies since 2007-2009 wasn’t our first rodeo, but they blew it.

I could give you pages, if not books, of citations, but you wouldn’t read them, so here are just two cites.

http://online.wsj.com/article/SB10001424052702303753904577450910257188398.html

http://www.mtpioneer.com/March-deal-Hoover.html