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FDR’S Rotten Deal

Unleash Prosperity Hotline
Issue #216
1) FDR’S Rotten Deal

Last week we mentioned a New York Times analysis that rated Trump as the worst president on the economy in modern times. We showed that this conclusion was laughable given the pre-COVID record U.S. prosperity. Even more comical was the NYT conclusion that the best economic record belonged to…FDR. Roosevelt’s apparent success is the rationale for the Biden $2 trillion New Deal – Green, Blue, Purple, whatever color as long as the government spends and borrows till the cows come home.

So with apologies to those over the age of 40 who may have actually learned real American history in school, we present the numbers below on unemployment:

World War II ended the Hoover-FDR Great Depression, not the New Deal. The AVERAGE unemployment rate in FDR’s first two terms (pre-WWII) was just below 15% and eight years into his presidency unemployment still stood above 14%. Today’s rate is half that, 6.4%, and we are told this is a crisis of epic proportions. After-tax worker incomes also crashed under FDR and through the war. 

Under the influence of what hallucinogenic drug is FDR’s record anything but a failure of spectacular proportions? Why would we do this again?

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