Ominous Parallels

Cybercast News Service ^ | 8/16/11 | Walter E. Williams

[Nachum]

People are beginning to compare Barack Obama's administration to the failed administration of Jimmy Carter, but a better comparison is to the Roosevelt administration of the 1930s and '40s. Let's look at it with the help of a publication from the Mackinac Center for Public Policy and the Foundation for Economic Education titled "Great Myths of the Great Depression," by Dr. Lawrence Reed.

During the first year of President Franklin D. Roosevelt's New Deal, he called for increasing federal spending to $10 billion while revenues were only $3 billion. Between 1933 and 1936, government expenditures rose by more than 83 percent. Federal debt skyrocketed by 73 percent. Roosevelt signed off on legislation that raised the top income tax rate to 79 percent and then later to 90 percent.

Hillsdale College economics historian and professor Burt Folsom, author of "New Deal or Raw Deal?", notes that in 1941, Roosevelt even proposed a 99.5 percent marginal tax rate on all incomes more than $100,000. When a top adviser questioned the idea, Roosevelt replied, "Why not?"

[Lazlo in PA]

I see more Nixon than FDR.

Nixon also gave us Price Controls, CAFE Standards and canned Bretton Woods.

[McGruff]

People are beginning to compare Barack Obama’s administration to the failed administration of Jimmy Carter

No disrespect Walter but, DUH!

[mjp]

Roosevelt's New Deal policies turned what would have been a three- or four-year sharp downturn into a 16-year affair.

but trying to help the poor by increasing government spending and taxing the rich makes libtards feeeeeel good

[DJ MacWoW]

47 Days And FR Is Still Short Of Its Goal
Name Another Site Where You Can Get As Much Information
Can't Think Of One?

Then Why Don't You Donate

[Jim Scott]

Walter Williams draws a compelling parallel between the economic strategies of Franklin D. Roosevelt and Barack Hussein Obama with the point that both had disastrous results for Americans. The left has lied about and obfuscated FDR's presidency for so long that only careful research can find the truth, anymore. FDR was a disaster for America and it's economy. The media of his day (1933-45) covered for him and there was no alternative. After FDRs untimely death in 1945, he was promoted by the left as 'ending the Great Depression' when, in reality, he had made it worse. The current shorthand dismissal of Roosevelt's administration 'ending the depression' is that World War II did that, not FDR. Close enough.

Obama's failed presidency is usually compared to Jimmy Carter's administration (1977 -1981) because Carter is in the living memory of a majority of Americans and, at almost 87, is still with us, spouting leftist nonsense from time to time and continuing to embarrass himself. Carter, like Obama, believed in Keynesian economics and his economic policies had the predictable result. Unemployment 7.5%, inflation rate: 13.5%, interest rates: 21%, the federal budget deficit 12 times larger than the deficit Carter 'inherited' from Nixon/Ford. Lots of folks can still remember that along with the gas lines and of course, the Iranian kidnapping and holding of 52 Americans for 444 days, a huge embarrassment for the United States. The short version of the Carter presidency is that he did everything wrong and caused a lot of grief for Americans.

Similarly, Barack Obama is doing everything wrong. Whether its his refusal to abandon Keynesian economics (Carter wouldn't, either) or his blunders in foreign policy (Libyan war, ostracizing Israel, cancelling missile defense programs for Poland and Czech Republic, 'the apology tour', etc), Barack Obama has been an embarrassing disaster for America. FDR was, too, but the left has re-written history to whitewash Roosevelt - and it has worked. I'm sure a majority of Americans believe Franklin D. Roosevelt was a great president who 'ended the depression'. However, Roosevelt has been gone for close to 70 years and his administration is fast receding into 'ancient history' for most Americans under 80. Carter is still remembered and he hasn't gotten the benefits of a whitewash. Obama is with us now, on TV every day and always making a speech. 9% unemployment is still with us too along with other problems only made worse by the Obama policies. Americans are not as uninformed as they were 75 years ago. The 24-hour news cycle is a reality. Obama's failures are writ large and he will be defeated for re-election, despite media striving to 'save' him. I just hope it is a true conservative - Sarah Palin - that has the pleasure of defeating Barack Obama on November 6, 2012.

[hosepipe]

[ Similarly, Barack Obama is doing everything wrong. ]

AND Cloward-Piven DEMANDS that he would.. its ON purpose..
Its not just incompetence.. its planned incompetence ON Purpose.. to bring “the system” down..

Wonder which incompetent Generals and Admirals Obama has appointed..
And which competent commanders have been passed over... same with the Clintoons..

[MondoQueen]

There was one newspaper in the United States that was opposed to Roosevelt. That was the Chicago Tribune. I think it was the only Republican paper in the country. I grew up in the Chicago area, and in fact in the same town as the publisher of the Tribune, and I couldn’t figure out why Col McCormack was so different in his views. Remember the Dewey headline?