Great Depression

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The '''Great Depression''' was the largest economic down-turn in the history of the [[United States]].  A confluence of things brought it about, including crop failures, stock speculation, and high tariffs.  It went on unabated for its first four years (1929-1933) because Herbert Hoover was a strong believer in [[rugged individualism]], and thus refused to use the power of the government to correct matters.  This led to the historic win by [[Franklin D. Roosevelt]] and an amendment to move up the date that the President takes office.  
 
The '''Great Depression''' was the largest economic down-turn in the history of the [[United States]].  A confluence of things brought it about, including crop failures, stock speculation, and high tariffs.  It went on unabated for its first four years (1929-1933) because Herbert Hoover was a strong believer in [[rugged individualism]], and thus refused to use the power of the government to correct matters.  This led to the historic win by [[Franklin D. Roosevelt]] and an amendment to move up the date that the President takes office.  
  
Some [[conservative]]s like to claim that the Depression was almost over when Roosevelt took office, and his policies set the country even further back.  However, it is clear from the margins by which he won re-election each time what people of the time thought about him. <ref>Bush won re-election, too.</ref>
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Some [[conservative]]s like to claim that the Depression was almost over when Roosevelt took office, and his policies set the country even further back.  They are correct only in that employment reached rock bottom when he took office, but it remained for the country to dig itself back up out of the hole. By 1937 employment reached a level roughly equal to the 1929 peak, but the economy slipped into a second, milder recession which delayed full recovery until the outbreak of [[World War II]]. However, it is clear from the margins by which Roosevelt won re-election each time what people of the time thought about him. <ref>Bush won re-election, too.</ref>
  
 
==Footnotes==
 
==Footnotes==

Revision as of 22:28, 4 October 2008

The Great Depression was the largest economic down-turn in the history of the United States. A confluence of things brought it about, including crop failures, stock speculation, and high tariffs. It went on unabated for its first four years (1929-1933) because Herbert Hoover was a strong believer in rugged individualism, and thus refused to use the power of the government to correct matters. This led to the historic win by Franklin D. Roosevelt and an amendment to move up the date that the President takes office.

Some conservatives like to claim that the Depression was almost over when Roosevelt took office, and his policies set the country even further back. They are correct only in that employment reached rock bottom when he took office, but it remained for the country to dig itself back up out of the hole. By 1937 employment reached a level roughly equal to the 1929 peak, but the economy slipped into a second, milder recession which delayed full recovery until the outbreak of World War II. However, it is clear from the margins by which Roosevelt won re-election each time what people of the time thought about him. [1]

Footnotes

  1. Bush won re-election, too.
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