The parallels with our current president are astounding.
. . .
When the economy tanked, he increased government spending, cut taxes, bailed out businesses “too big to fail,” and proposed a massive infrastructure bank to employ men in shovel-ready jobs. Contemporaries called this stimulus package “priming the pump.”
Hoover blamed his woes on the international economic situation and his political opponents. Sound familiar?
. . .
He is very seldom willing to take advice. Since he knows more than any advisers could, why should he?”
August 24, 2011
Jonathan Bean: You’re not Reagan, you’re HooverPosted by wfl under Economy, Reagan | Tags: economy, FDR, Great Depression, Herbert Hoover |
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