FDR or Ronald Reagan

@gewcew23 (8011)
United States
January 12, 2009 12:20pm CST
Both Presidents inherited an economy on the brink, but the two decided to handle the economy totally differently. The Great Depression began with the Great Crash of 1929. By 1931, unemployment had reached 16 percent. By 1933, 89 percent of stock value had been wiped out, the economy had shrunk by one-third, thousands of banks had closed, a third of the money supply had vanished, and unemployment had reached 25 percent. FDR's answer was vast federal spending, tough new regulations on business and higher taxes. What did that accomplish nothing except keep the American economy depressed. The Jimmy Carter era was the worst economy since the great depression interest rates had reached 21 percent and inflation 13 percent which we call stagflation. This is what Ronald Reagan inherited. His answer was the tight money policy of the Fed and across the board tax cuts of 25 percent, while slashing the highest rates from 70 percent to 28 percent. What did that accomplish a boom that created 20 million jobs and has been credited as America's seven fat years. So which one would you choose?
1 person likes this
5 responses
• United States
12 Jan 09
Reagan is my favorite president so I guess you know what my choice is.
1 person likes this
@gewcew23 (8011)
• United States
12 Jan 09
Well there you go again showing your intelligence:-)
@Destiny007 (5820)
• United States
12 Jan 09
We need another Reagan, and not another FDR. The 0bamunist has been portrayed as another FDR... and for anyone with an understanding about the damage that FDR's policies did to our economy and to our country, that is not a compliment.
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@gewcew23 (8011)
• United States
12 Jan 09
True, true, true!
@irisheyes (4373)
• United States
13 Jan 09
FDR. The situation when he came into office was much graver than that inherited by Reagan. It wwas the worst financial crises in our nation's history and there was a total vacuum of leadership. Even today things are not so terrible as they were then.
@suspenseful (40316)
• Canada
13 Jan 09
I would have chosen Ronald Reagan. It seemed that the eighties were a very good decade and part of that is due to his term of office. Then suddenly the 90s come in with the start of businesses laying people off, and with the start of those people bothering us with telemarketing because they had been laid off and had to work at what they could get. I missed the 80s. It was one of the best decades and now I learn it was because of Reagan's policies.
@stephcjh (32327)
• United States
13 Jan 09
I guess that I would have to choose ronald Reagan. I was alive during his presidency and know alot more about what he had done for us.