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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Steve Dietrich who wrote (476598)	4/30/2009 10:51:06 AM
From: Wharf Rat	Read Replies (2) \| Respond to of 1573901

Had to be FDR's fault; he gave us Hoot Smalley. The rest is herstory. Historian Michele Bachmann Blames FDR's "Hoot-Smalley" Tariffs For Great Depression By Eric Kleefeld - April 29, 2009, 11:08AM Make no mistake: When it comes to economics, Rep. Michele Bachmann (R-MN) knows her history -- even if that history is from another planet. On Monday night, our friends at Dump Bachmann reported, Bachmann took to the House floor and paid tribute to the economic policies of Calvin Coolidge and the "Roaring 20s" (the era that ended with a massive monetary contraction and the Great Depression). One particular line really does stand out, though -- saying Franklin Roosevelt turned a recession into a depression through the "Hoot-Smalley" tariffs: Here's what really happened: When Franklin Roosevelt took office, unemployment was already about 25%. And the tariff referred to here was actually the Smoot-Hawley bill, co-authored by Republicans Sen. Reed Smoot of Utah and Rep. Willis Hawley of Oregon, and signed into law by President Herbert Hoover. Interestingly, this speech also happened on the same day as when Bachmann connected the 1970s swine flu outbreak to Democrat Jimmy Carter being president, even though it was actually Gerald Ford in office at the time. Late Update: A shout-out to Liberal in the Land of Conservative for also noticing Bachmann's false attribution of the tariff bill to Roosevelt -- and also to Matt Yglesias for pointing to the metaphysical possibilities. tpmdc.talkingpointsmemo.com

To: Steve Dietrich who wrote (476598)	4/30/2009 11:05:20 AM
From: i-node	Read Replies (1) \| Respond to of 1573901

FDR himself would want to undo the New Deal Hypothetical arguments are for people who can't win actual arguments. Nothing hypothetical about it. FDR made it clear he believed SS and UI, as they exist today, would be considered "failures" in his eyes. And I suspect he would also recognize what a mess the unions have become with the bankruptcy of DCX. The period from WWII until now is the period of greatest economic progress in the history of man. Yeah, it was bad when we weren't $60 Trillion in debt. It's time to fold on FDR. Hardly. The abject failure of FDR economic policy is just now starting to come to light, as people are finally realizing what a mess he left behind. Was a great wartime president, though. Anyway, that's my last post for a few days Best news I've heard all day.