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Rose Siding

(32,623 posts)
Wed Aug 29, 2012, 12:10 PM Aug 2012

Oh Please Let Rick Santorum Be Right

Santorum on Fox via TPM

...This president is the most hostile president to the private sector since Franklin Roosevelt. Look what happened under Roosevelt. Years after years of playing the class warfare politics, which Roosevelt did during the Great Depression, and he drove businessmen away. He stopped creativity, he stopped innovation, he stopped people who were willing to risk and invest, and that's what's happening.


Because that would be awesome!


Source: US Department of Commerce (annually from 1929 through 1946 quarterly from 1947) http://www.bea.gov/national/index.htm#gdb (click on current dollar and real gdp)

Under Hoover, who saw the start of the Great Depression, the growth was spectacularly negative, reflecting the greatest economic catastrophe of that century. The value of the domestic economy (roughly, the average standard of living) had shrunk by fully one-fourth between Hoover’s inauguration in spring of 1929, and the end of his term in 1933.

Even more extraordinary is the rate the economy grew in Roosevelt’s first term—almost exactly erasing the losses during Hoover’s term. There is a common misconception that the economy didn’t begin to recover from the Great Depression until the onset of World War II. Perhaps this is because the economy started growing even faster in Roosevelt’s third term, but Roosevelt had robust economic growth in each of his terms.

http://economyinperspective.com/gdp
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