>>>Sorry, Don, but the Depression became much worse under FDR<<<
I found your comments on the Roosevelt Administration interesting so I went back to analyze government data. The data I used is provided by the Bureau of Economic Analysis which is a part of the federal Department of Commerce. Using 1996 dollars, I found that from 1929 through 1932, the gross domestic product (GDP) declined 26 percent. From 1932 through 1939, the GDP grew 48 percent. However, in 1933, there was a decline of 1.3 percent and, in 1938, there was a decline of 3.5 percent.
Since the data was available, I compared the same data for the Reagan and Clinton years to put Mr. Roosevelt’s accomplishment in perspective. From 1980 through 1988, the GDP grew by 29.9 percent and from 1992 through 2000, the GDP grew by 33.6 percent.
Using the above data, Mr. Roosevelt inherited an economy whose GDP had declined by 8.6, 6.4, and 13 percent in the three calendar years preceding his taking office in March 1933. Mr. Reagan and Mr. Clinton inherited economies in which the GDP had grown in 3 of the 4 calendar years preceding their inauguration.
I suppose someone could quibble over whether the 1.3 percent decline in 1933 GDP was attributable to the last two months of the Hoover Administration or whether it was attributable to the first 10 months of the Roosevelt Administration, but I see no point in it.
The source documents for my analysis are at
bea.doc.gov
I may have made some miscalculations in my haste but I think they are correct. |
