well, since Roosevelt was brought up........
Re: WWII and Roosevelt
Quote:
|
# Although the war is the largest tragedy in human history, the United States emerges as the world's only economic superpower. Deficit spending has resulted in a national debt 123 percent the size of the GDP. By contrast, in 1994, the $4.7 trillion national debt will be only 70 percent of the GDP!
|
Quote:
As you can see, Roosevelt began relatively modest deficit spending that arrested the slide of the economy and resulted in some astonishing growth numbers. (Roosevelt's average growth of 5.2 percent during the Great Depression is even higher than Reagan's 3.7 percent growth during his so-called "Seven Fat Years!") When 1936 saw a phenomenal record of 14 percent growth, Roosevelt eased back on the deficit spending, overly worried about balancing the budget. But this only caused the economy to slip back into a recession, as the above chart shows.
I have been unable to find reliable economic growth figures from World War II, but as a generalization it is safe to say the economy exploded, experiencing it’s greatest growth in U.S. history. Between 1940 and 1945, the GDP nearly doubled in size, from $832 billion to $1,559 billion in constant 87 dollars. And this occurred as deficit spending soared, to levels Keynes had earlier and unsuccessfully recommended to Roosevelt.
|
1933 - New Deal Begins
1937 & 1938 - Large recession with unemployment rates of up to 19%
If we compare the numbers and figures relatively, Bush's economic record is as good or better than Roosevelt's.
Any economic number can be made to look bad (i.e. Clinton and Bush have similar numbers, but Bush is bashed for his numbers--i.e. unemployment--and Clinton is lauded).
LINK