Monday, October 29, 2012

It’s time for a little Calvin Coolidge in our economic approach

It’s time for a little Calvin Coolidge in our economic approach
Charles Cole
…..Sadly, our history books have followed a scripted narrative, omitting much important information that the American people need to consider this year.
Since the early years of the 20th Century, Americans have chosen various approaches to governance.  They have elected Republican presidents but given them Democratic-controlled congresses …..From these charts, we can see that there have been several Democratic presidents over the past 80 years who enjoyed very large majorities in both houses of Congress throughout their terms of office.…….Historical facts reveal that President Roosevelt took actions which, according to his theoretical approach to governance, would “stimulate the economy” and end the Great Depression…. Even Henry Morgenthau, FDR’s Secretary of Treasury (hardly a conservative naysayer or a “right wing extremist”) said the following in testimony before Congress several years into the Roosevelt Administration:
“We have tried spending money. We are spending more than we have ever spent before and it does not work….  We have never made good on our promises … I say after eight years of this administration we have just as much unemployment as when we started… and an enormous debt to boot!”

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